Core Viewpoint - The company is actively adapting to the evolving energy landscape in China, focusing on flexibility and low-carbon transformation of coal power plants, while also expanding its energy-saving and new energy technologies to drive future growth [4][6][7][8]. Company Overview - The company has maintained its accounting firm as Zhongxinghua Accounting Firm (Special General Partnership) for the reporting period, receiving a standard unqualified audit opinion [2]. - The company has proposed a cash dividend of 1.00 yuan per 10 shares to all shareholders, with no stock dividends [3]. Industry Context - As of the end of 2024, China's total installed power generation capacity is projected to reach 3.35 billion kilowatts, with non-fossil energy surpassing coal power for the first time [4]. - By the end of 2025, coal power's share of total installed capacity is expected to drop to one-third, while solar and wind power will exceed coal capacity [4]. Business Performance - The company achieved a revenue of 1.276 billion yuan, a year-on-year increase of 13.06%, while total profit decreased by 31.33% to 79.77 million yuan [8]. - The energy-saving segment saw a revenue increase of 65.18%, driven by the company's focus on coal power flexibility and new energy storage technologies [8]. - The environmental protection segment's revenue decreased by 57.02%, attributed to fewer upgrade projects as most coal power plants completed their ultra-low emission modifications [9]. - The new energy segment's revenue decreased by 45.84%, with biomass coupling technology still in the early demonstration phase [10]. Technological Advancements - The company is promoting deep flexibility transformation technologies for coal power plants, including plasma ignition and digital boiler technologies, to enhance efficiency and adaptability [6]. - The company has made significant progress in low-carbon transformation technologies, achieving stable operation of ammonia co-firing in coal-fired boilers, recognized as a top innovation in the energy sector [7].