Financial Performance - For the six months ended June 30, 2023, revenue was RMB 10,549 million, an increase of 4.82% compared to the same period in 2022[2]. - Profit before tax for the same period was RMB 2,593 million, reflecting a growth of 14.63% year-on-year[2]. - Net profit attributable to equity holders for the six months was RMB 2,055 million, up 14.87% from the previous year[2]. - Basic and diluted earnings per share for the period were RMB 24.92, compared to RMB 21.70 in the same period last year[3]. - Operating profit for the six months was RMB 3,133 million, an increase from RMB 2,895 million in the prior year[3]. - Total comprehensive income for the period was RMB 2,274 million, compared to RMB 1,885 million in the same period of 2022[4]. - The company reported a profit of RMB 2,054,907,000 for the six months ended June 30, 2023, compared to RMB 1,788,903,000 for the same period in 2022, reflecting a year-over-year increase of approximately 14.9%[30]. - The company’s income tax expense for the first half of 2023 was RMB 432,041,000, an increase from RMB 381,694,000 in the same period of 2022, representing a rise of 13.2%[26]. - The company reported a total of RMB 13,465,879,000 in trade receivables as of June 30, 2023, compared to RMB 11,027,087,000 as of December 31, 2022, indicating an increase of 22.1%[31]. Revenue Breakdown - The revenue breakdown includes RMB 5,226,854 thousand from gas power and heating, RMB 2,516,287 thousand from wind power, RMB 1,499,874 thousand from photovoltaic power, and RMB 125,035 thousand from hydropower, contributing to a total of RMB 10,478,337 thousand from customer contracts[15]. - The company’s revenue from customer contracts for the six months ended June 30, 2023, includes RMB 1,109,765 thousand from heat sales, which is a significant component of the overall revenue[15]. - The company’s overseas revenue for the six months ended June 30, 2023, was RMB 143,971 thousand, indicating a continued presence in international markets[15]. Operational Performance - As of June 30, 2023, the total power generation was 19.311 billion kWh, an increase of 9.23% year-on-year[37]. - The company completed 2.59 million kW of capacity filings in the first half of 2023, exceeding the target by 110% compared to the previous year[38]. - The installed capacity as of June 30, 2023, was 13.939 million kW, a year-on-year increase of 4.02%[40]. - Renewable energy projects accounted for 66.27% of the total installed capacity, an increase of 1.36 percentage points year-on-year[40]. - The average utilization hours for gas power generation equipment increased by 47 hours year-on-year to 1,136 hours[35]. - The company’s wind power generation increased by 24.06% year-on-year, with an average utilization of 1,237 hours, up 51 hours from the previous year[37]. - The company’s hydroelectric power generation decreased by 25.42% year-on-year, with an average utilization of 1,247 hours[37]. - The company has significant ongoing projects, with 3.22 million kW of capacity under construction, of which 3.07 million kW are renewable energy projects[40]. Financial Position - Non-current assets as of June 30, 2023, amounted to RMB 71,237 million, up from RMB 69,424 million at the end of 2022[5]. - Total assets increased by 5.37% from RMB 88,000.2 million as of December 31, 2022, to RMB 92,727.7 million as of June 30, 2023, due to increased investments in new projects and acquisitions[63]. - Total liabilities rose by 7.21% from RMB 55,578.0 million as of December 31, 2022, to RMB 59,585.1 million as of June 30, 2023, driven by funding needs for project construction[63]. - The net debt-to-equity ratio increased by 1.5 percentage points from 55.79% as of December 31, 2022, to 57.29% as of June 30, 2023[65]. - The company’s total equity increased to RMB 33,142,595,000 as of June 30, 2023, compared to RMB 32,422,221,000 at the end of 2022, showing a growth of approximately 2.2%[7]. Cost and Expenses - Operating expenses increased by 4.57% to RMB 8,011.1 million, primarily due to higher gas consumption and costs associated with new wind and solar projects[50]. - The total financial expenses decreased to RMB 635,709,000 in the first half of 2023 from RMB 752,986,000 in the same period of 2022, a reduction of approximately 15.6%[25]. - The company’s depreciation and amortization expenses totaled RMB 1,914,175,000 for the six months ended June 30, 2023, compared to RMB 1,795,077,000 for the same period in 2022, reflecting an increase of 6.6%[28]. Strategic Initiatives - The company plans to enhance its position as a leading clean energy service provider in line with its "14th Five-Year Plan" for high-quality development in the second half of 2023[73]. - The company aims to accelerate project construction and achieve the annual grid-connected capacity target, focusing on multiple wind and solar projects in the second half of 2023[74]. - The company plans to continue its dual-driven strategy of "independent development and mergers & acquisitions" to enhance project expansion, with specific targets for various energy projects including offshore wind and pumped storage[75]. - The company is focused on expanding its operational segments, including gas power, wind power, photovoltaic power, and hydropower, to enhance overall performance and market reach[19]. Governance and Compliance - The company has adhered to high standards of corporate governance as per the Hong Kong Stock Exchange's guidelines during the reporting period[78]. - The company has adopted a standard code for securities trading by directors and supervisors, confirming compliance during the reporting period[79]. - The audit committee has reviewed the company's interim performance and the unaudited financial statements for the six months ending June 30, 2023[80]. - The interim results announcement is available on the Hong Kong Stock Exchange's website and the company's website[81].

Assets and Liabilities - As of March 31, 2023, the total current assets amounted to RMB 20,634,967,699.45, an increase from RMB 18,716,597,533.40 at the beginning of the period, representing a growth of approximately 10.0%[2] - The trade receivables reached RMB 12,659,658,270.34, up from RMB 11,000,235,860.08, indicating an increase of about 15.1%[2] - The cash and cash equivalents stood at RMB 5,674,136,530.44, compared to RMB 5,560,237,051.44 at the beginning of the period, reflecting a growth of approximately 2.0%[2] - Non-current assets totaled RMB 69,363,868,258.10, slightly down from RMB 69,648,950,130.22, showing a decrease of about 0.4%[3] - The total assets reached RMB 89,998,835,957.55, an increase from RMB 88,365,547,663.62, representing a growth of approximately 1.8%[3] - Long-term equity investments amounted to RMB 1,669,804,808.89, up from RMB 1,636,317,967.57, indicating an increase of about 2.0%[3] - The company's fixed assets were valued at RMB 50,436,129,317.54, down from RMB 51,092,800,192.80, reflecting a decrease of approximately 1.3%[3] - The inventory increased to RMB 115,822,702.01 from RMB 97,244,976.14, marking a growth of about 19.1%[2] - As of March 31, 2023, the total current liabilities amounted to RMB 24,141,238,743.52, a decrease of 9.4% from RMB 26,542,256,512.15 at the beginning of the period[4] - The total non-current liabilities reached RMB 32,002,940,655.55, an increase from RMB 29,334,804,928.03, representing an increase of approximately 5.7%[5] - The total liabilities amounted to RMB 56,144,179,399.07, which is an increase of 0.5% compared to RMB 55,877,061,440.18 at the beginning of the period[5] Equity and Profitability - The total equity attributable to shareholders was RMB 33,007,140,624.05, up from RMB 31,685,366,031.41, indicating an increase of about 4.2%[6] - The company's retained earnings stood at RMB 16,516,295,961.04, compared to RMB 15,208,524,974.71, marking an increase of approximately 8.6%[6] - Total operating revenue for the period reached RMB 6,325,730,599.39, an increase of 1.97% compared to RMB 6,202,622,035.05 in the previous period[7] - Total operating costs amounted to RMB 5,113,488,011.84, up from RMB 5,008,833,964.95, reflecting a cost increase of 2.5%[7] - Net profit attributable to the parent company was RMB 1,307,770,986.33, compared to RMB 1,244,925,476.64 in the previous period, representing a growth of 5.05%[8] - The company reported a total profit of RMB 1,632,812,964.49, an increase from RMB 1,552,988,660.00, marking a rise of 5.15%[8] Cash Flow - The net cash flow from operating activities for the current period is RMB 2,738,437,465.46, compared to RMB 1,579,988,017.21 in the previous period, indicating a significant increase[11] - The total cash inflow from investment activities is RMB 465,127,284.86, while cash outflow is RMB 1,784,924,195.44, resulting in a net cash flow from investment activities of -RMB 1,319,796,910.58[11] - Cash inflow from financing activities amounts to RMB 7,628,295,710.23, with cash outflow totaling RMB 8,924,975,296.19, leading to a net cash flow from financing activities of -RMB 1,296,679,585.96[12] - The total cash and cash equivalents at the end of the period is RMB 5,589,905,663.17, down from RMB 5,988,027,999.96 in the previous period[12] Other Financial Metrics - Research and development expenses were RMB 382,594.71, significantly lower than RMB 2,686,559.04 in the previous period, indicating a decrease of 85.8%[7] - Other income included government subsidies of RMB 18,500,000.00, compared to RMB 200,000.00 in the previous period, showing a substantial increase[8] - The company experienced a foreign exchange loss of RMB 52,950,953.90, compared to a gain of RMB 11,050,762.91 in the previous period[7] - The total comprehensive income for the period was RMB 1,325,900,569.30, down from RMB 1,381,172,838.44, reflecting a decrease of 4.01%[9] - The company reported a significant increase in investment income, totaling RMB 35,012,326.16, compared to RMB 57,186,471.03 in the previous period, indicating a decrease of 38.8%[8] - The net loss from other comprehensive income was RMB -30,380,627.60, contrasting with a gain of RMB 89,653,414.03 in the previous period[9]

Financial Performance - Total revenue for 2022 reached RMB 20,030 million, an increase from RMB 18,645 million in 2021, representing a growth of 7.4%[13] - Operating profit for 2022 was RMB 5,171 million, compared to RMB 4,828 million in 2021, reflecting a year-on-year increase of 7.1%[13] - Net profit attributable to shareholders for 2022 was RMB 2,847 million, up from RMB 2,529 million in 2021, marking a growth of 12.6%[13] - Basic earnings per share for 2022 was RMB 34.53, an increase from RMB 30.67 in 2021, representing a growth of 12.3%[13] - The company's annual operating revenue was RMB 20.03 billion, achieving a total profit of RMB 3.844 billion, with a compound annual growth rate of over 10% for total assets, total profit, and net assets over three years[17] - Operating revenue for 2022 was RMB 20.03 billion, a year-on-year increase of 7.4%, while pre-tax profit rose to RMB 3.84 billion, up 17.0% year-on-year[22] - In 2022, the company achieved a net profit of RMB 3,028.6 million, an increase of 13.46% compared to RMB 2,669.3 million in 2021[35] - Profit before tax increased by 17.01% from RMB 3,284.9 million in 2021 to RMB 3,843.5 million in 2022[57] Assets and Liabilities - Total assets as of December 31, 2022, amounted to RMB 87,995 million, up from RMB 86,040 million in 2021, indicating a growth of 2.2%[14] - Total liabilities as of December 31, 2022, were RMB 55,561 million, compared to RMB 54,868 million in 2021, reflecting an increase of 1.3%[14] - Total assets increased by 2.27% from RMB 86,040.3 million as of December 31, 2021, to RMB 87,994.6 million as of December 31, 2022, due to investments in new construction and acquisitions[60] Installed Capacity and Energy Generation - The company’s total installed capacity reached 13,719 MW as of December 31, 2022, with gas-fired power accounting for 4,702 MW, representing 40% of Beijing's gas power generation[15] - The company’s wind power installed capacity was 5,066 MW, primarily located in regions with rich wind resources[15] - The total installed capacity of renewable energy in the country reached 1.21 billion kW by the end of 2022, accounting for 47.3% of the total installed capacity, an increase of 2.5 percentage points year-on-year[18] - Total power generation for 2022 was 36.63 billion kWh, with renewable energy generation at 17.59 billion kWh, a year-on-year increase of 31.0%[23] - The total installed capacity of the group reached 13.719 million kW in 2022, an increase of 10.2% year-on-year[22] Renewable Energy Initiatives - The renewable energy installed capacity increased by 4.2%, with 2.65 million kW of renewable energy grid-connected and development rights obtained in 2022[17] - The company supplied 169 million kWh of green electricity to the Winter Olympics venues, achieving 100% green power supply during the event[17] - The company is focused on green development and aims to become a leading clean energy service provider internationally[15] - The group aims to accelerate the construction of a modern energy system in 2023, focusing on the "wind and solar strategy" and dual-driven development through self-construction and acquisitions[29] Strategic Planning and Market Expansion - The company plans to strengthen strategic planning and deepen quality improvement and safety management in response to major opportunities in the renewable energy sector[17] - The company aims to enhance its core competitiveness and achieve higher quality, efficiency, and sustainable development in 2023[17] - The company aims to expand its market presence by optimizing power generation models and increasing participation in green electricity trading[33] - Market expansion plans include entering two new international markets by Q2 2024, which is anticipated to increase market share by 5%[81] Employee and Governance Practices - The company has established a performance assessment system to motivate employees, linking performance results to compensation[76] - Employee training participation reached 100%, with a focus on enhancing professional skills and cultural literacy[78] - The company has implemented a retirement and employee benefits plan, details of which can be found in the financial statement notes[160] - The board of directors consists of 11 members, including 4 executive directors, 3 non-executive directors, and 4 independent non-executive directors[180] - The company has adopted a corporate governance code and maintains high standards to protect shareholder interests and enhance corporate value[179] Related Party Transactions - The company confirmed that procurement from the top five suppliers accounted for 73.9% of total procurement for the year ending December 31, 2022, with the largest supplier contributing 46.9%[159] - Sales to the top five customers represented 98% of total sales for the year ending December 31, 2022, with the largest customer accounting for 78%[159] - Related party transactions were reviewed and deemed compliant with Hong Kong Stock Exchange regulations, with no harm to shareholder interests identified[175] Sustainability and Environmental Commitment - The board of directors has approved a new sustainability initiative, committing to a 30% reduction in carbon emissions by 2025[84] - The company emphasizes the importance of sustainable development, focusing on employee engagement, customer service, and partnerships with suppliers[161] - The board is committed to ongoing training and professional development for directors to ensure compliance with legal and regulatory standards[197]

Financial Performance - For the year ended December 31, 2022, the group's revenue was RMB 20,030.3 million, an increase of 7.43% compared to the previous year[2]. - The profit attributable to equity holders for the year ended December 31, 2022, was RMB 2,846.9 million, representing a growth of 12.57% year-on-year[2]. - Basic and diluted earnings per share for the year ended December 31, 2022, were RMB 34.53[3]. - Operating profit for the year was RMB 5,170.9 million, up from RMB 4,827.9 million in the previous year[3]. - The total comprehensive income for the year was RMB 3,001.3 million, compared to RMB 2,651.0 million in the previous year[4]. - The company reported a total of RMB 1,055.4 million in other income for the year, up from RMB 904.0 million in the previous year[3]. - The company’s finance costs for the year were RMB 1,500.97 million, an increase from RMB 1,372.97 million in the previous year[3]. - The income tax expense for the year ended December 31, 2022, was RMB 814,876,000, up from RMB 615,604,000 in 2021, indicating a rise of 32.4%[42]. - The pre-tax profit for the year ended December 31, 2022, was RMB 3,843,500,000, compared to RMB 3,284,905,000 in 2021, showing an increase of 17.0%[44]. - The company achieved a net profit of RMB 3,028.6 million in 2022, an increase of 13.46% from RMB 2,669.3 million in 2021[68]. Dividends - The board proposed a final dividend of RMB 12.02 cents per share, totaling RMB 990.99 million[2]. - The company approved a final dividend of RMB 0.1202 per share for the year ended December 31, 2022, totaling RMB 990,990,000, which is an increase from RMB 580,167,000 for the previous year[46]. - The final dividend is subject to approval at the annual general meeting scheduled for June 29, 2023, with payment expected around August 10, 2023[103]. - The company will withhold a corporate income tax of 10% on dividends distributed to non-resident corporate shareholders[103]. - H-share individual shareholders are exempt from paying personal income tax on the final dividend due to the company's status as a foreign-invested enterprise[103]. - The company will suspend H-share transfer registration from June 26 to June 29, 2023, and from July 7 to July 12, 2023, to determine shareholder eligibility for the annual general meeting and dividend[104]. Assets and Liabilities - Non-current assets as of December 31, 2022, amounted to RMB 69,418.7 million, an increase from RMB 66,903.4 million in the previous year[5]. - Cash and cash equivalents as of December 31, 2022, were RMB 5,466.4 million, compared to RMB 5,219.1 million in the previous year[5]. - As of December 31, 2022, total liabilities amounted to RMB 27,361,729 thousand, a decrease of 6.1% from RMB 29,140,638 thousand in 2021[6]. - Non-current liabilities increased to RMB 28,199,158 thousand, up 9.1% from RMB 25,727,819 thousand in 2021[7]. - The company's total equity reached RMB 32,433,679 thousand, representing an increase of 4.1% from RMB 31,171,750 thousand in 2021[7]. - Current liabilities included trade and other payables of RMB 6,974,153 thousand, an increase of 15.2% from RMB 6,050,917 thousand in 2021[6]. - The company reported a net current liability of RMB (8,785,859) thousand, an improvement from RMB (10,003,782) thousand in 2021[6]. - The total assets reported for the group amounted to RMB 116,591,048 thousand, with the highest assets in wind power at RMB 37,735,948 thousand[25]. - The group reported total liabilities of RMB 85,635,660 thousand, with gas power and heating liabilities at 6,906,363 thousand[25]. - The total financial expenses for the year ended December 31, 2022, amounted to RMB 1,500,967,000, compared to RMB 1,372,967,000 in 2021, reflecting an increase of 9.3%[41]. Revenue Generation - The group generated revenue from customer contracts of RMB 19,897,598,000 for the year ended December 31, 2022, compared to RMB 18,496,300,000 for the previous year[19]. - Total revenue from customer contracts reached RMB 19,897,598 thousand, with significant contributions from gas power and heating (RMB 12,465,830 thousand) and wind power (RMB 4,317,645 thousand)[20]. - Total revenue from external customers reached RMB 18,645,255,000, with a significant contribution from the China National Grid Corporation accounting for 78% of total revenue[34][35]. - The revenue from electricity sales was RMB 17,717,738 thousand, with a breakdown of RMB 10,311,704 thousand from gas power and heating[20]. - The company confirmed revenue recognition upon the transfer of control of electricity and heat, typically within 60 days post-supply[21]. Operational Highlights - The total installed capacity of the company reached 13.719 million kW, an increase of 10.2% year-on-year[55]. - Total power generation for the year was 36.63 billion kWh, with renewable energy generation at 17.59 billion kWh, a year-on-year increase of 31.0%[56]. - The company has nearly 3 million kW of self-developed projects under construction and over 1.5 million kW of projects approved but not yet started[57]. - The company has over 40,000 kW of completed acquisition projects and a project reserve exceeding 28 million kW[57]. - The company plans to accelerate the development of nearly 3 million kW projects in 2023, focusing on wind and solar power projects in Inner Mongolia and Guangxi[64]. - The digital transformation initiative aims to enhance operational efficiency by integrating all project data into a smart monitoring system, facilitating real-time performance optimization[65]. - The company will actively participate in market electricity trading to expand green electricity trading scale and improve revenue models[67]. Strategic Focus - The company is engaged in clean energy businesses, including gas power generation and renewable energy, indicating a strategic focus on sustainable growth[8]. - The company is actively exploring opportunities in hydrogen energy, energy storage, and offshore wind power to adapt to macroeconomic changes and industry trends[101]. - The company is closely monitoring policy changes affecting the renewable energy sector to mitigate risks associated with potential subsidy reductions and market reforms[102]. - The company is committed to enhancing safety management and environmental protection measures to ensure sustainable development[66]. - The company aims to become a leading provider of clean energy services in the capital, focusing on high-quality and sustainable growth in 2023[63]. Compliance and Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules for the year ended December 31, 2022[105]. - All directors and supervisors confirmed compliance with the standard code for securities transactions during the reporting period[106]. - Deloitte Touche Tohmatsu has reviewed the consolidated financial statements for the year ended December 31, 2022, but did not provide an audit opinion[107]. - The audit committee has reviewed the annual performance and financial statements prepared in accordance with international financial reporting standards[108]. - The annual results announcement is available on the Hong Kong Stock Exchange's website and the company's website[108].

Financial Position - As of September 30, 2022, the total current assets amounted to RMB 22,419,391,013.17, an increase from RMB 19,322,870,542.41 at the beginning of the period[3] - The total non-current assets were reported at RMB 66,623,808,198.72, slightly up from RMB 66,622,802,574.17 at the beginning of the period[4] - The total assets of the company reached RMB 89,043,199,211.89, compared to RMB 85,945,673,116.58 at the beginning of the period, showing an increase of approximately 2.4%[4] - The company reported a total of RMB 50,141,682,597.82 in fixed assets, up from RMB 46,259,840,235.55 at the beginning of the period, indicating a growth of approximately 8.1%[4] - The company has a total of RMB 1,048,620,546.19 in goodwill, reflecting the company's strategic acquisitions and investments[4] Liabilities and Equity - Total current liabilities amounted to RMB 29,830,060,079.37, an increase from RMB 29,424,883,406.00 at the beginning of the period[5] - Long-term borrowings reached RMB 21,207,320,810.22, up from RMB 19,962,609,230.86 at the beginning of the period, indicating a growth of approximately 6.24%[6] - Total liabilities increased to RMB 56,840,178,609.64 from RMB 54,702,024,797.04, reflecting a rise of about 3.91%[6] - The total equity attributable to shareholders was RMB 31,402,352,081.01, compared to RMB 30,449,857,440.62 at the beginning of the period, showing an increase of approximately 3.12%[7] - Non-current liabilities totaled RMB 27,010,118,530.27, an increase from RMB 25,277,141,391.04, indicating a growth of approximately 6.86%[6] Revenue and Profitability - Total operating revenue for the period reached RMB 14.67 billion, an increase from RMB 13.57 billion in the previous period, representing a growth of approximately 8.15%[8] - Total operating costs amounted to RMB 12.03 billion, up from RMB 11.57 billion, indicating a rise of about 4.04%[8] - Net profit attributable to the parent company was RMB 2.48 billion, compared to RMB 1.97 billion in the previous period, reflecting an increase of approximately 25.76%[9] - The total profit for the period was RMB 3.00 billion, up from RMB 2.47 billion, marking an increase of approximately 21.48%[9] - The comprehensive income attributable to the parent company was RMB 2.38 billion, compared to RMB 1.92 billion in the previous period, indicating a growth of approximately 24.06%[10] Cash Flow - The total cash inflow from operating activities amounted to RMB 17,596,426,846.27, an increase from RMB 15,162,026,748.24 in the previous period, representing a growth of approximately 16.1%[12] - The net cash flow from operating activities was RMB 5,988,355,913.87, compared to RMB 4,116,321,272.43 in the prior period, indicating an increase of about 45.5%[13] - Cash inflow from financing activities was RMB 26,968,385,654.28, down from RMB 31,064,208,875.31, representing a decline of approximately 13.5%[14] - The net cash flow from financing activities was RMB 1,163,886,836.33, a significant decrease from RMB 3,813,537,027.80 in the previous period, indicating a decline of about 69.5%[14] - The total cash and cash equivalents at the end of the period reached RMB 7,731,759,721.75, an increase from RMB 5,716,780,497.04 in the previous period, reflecting a growth of approximately 35.2%[14] Investments and Expenses - The company reported a significant investment income of RMB 136.93 million, a recovery from a loss of RMB 67.33 million in the previous period[9] - Research and development expenses increased to RMB 5.82 million from RMB 3.13 million, showing a growth of approximately 86.06%[8] - The company received government subsidies amounting to RMB 18.99 million, an increase from RMB 10.10 million in the previous period[9] - The cash paid for purchasing goods and services was RMB 8,600,256,914.22, slightly down from RMB 8,687,772,089.41, indicating a decrease of about 1.0%[12] Other Comprehensive Income - The company reported a decrease in other comprehensive income, with a negative value of RMB -174,696,781.77, compared to RMB -64,600,433.14 previously[7] - Other comprehensive income after tax showed a loss of RMB 107.37 million, worsening from a loss of RMB 51.98 million in the previous period[10]

Financial Performance - The company's operating revenue increased by 6.16% year-on-year, while net profit grew by 15.15% during the first half of 2022, demonstrating resilience amid economic challenges and the pandemic [15]. - The group achieved a net profit of RMB 1,865.4 million in the first half of 2022, an increase of 15.15% compared to RMB 1,620.0 million in the same period of 2021 [22]. - Total revenue increased by 6.16% to RMB 9,991.6 million in the first half of 2022, up from RMB 9,411.5 million in the first half of 2021 [23]. - Operating profit increased by 11.09% from RMB 2,556.5 million in H1 2021 to RMB 2,840.0 million in H1 2022 [35]. - Basic and diluted earnings per share increased to RMB 21.55 from RMB 18.80, reflecting a growth of 9.9% [86]. - Total comprehensive income for the period was RMB 1,869,983 thousand, compared to RMB 1,606,176 thousand in the same period last year, marking a rise of 16.4% [87]. - The company reported a net profit of RMB 1,776,682 thousand for the period, reflecting strong financial performance [92]. Power Generation Capacity and Utilization - As of June 30, 2022, the total installed power generation capacity in China reached 2.44 billion kilowatts, a year-on-year increase of 8.1%, with non-fossil energy capacity growing by 14.8% to 1.18 billion kilowatts, accounting for 48.2% of the total [14]. - The total installed capacity of the group reached 13.4 million kW as of June 30, 2022, representing a year-on-year increase of 19.48% [16]. - The total power generation of the group was 17.678 billion kWh in the first half of 2022, a year-on-year increase of 9.27%, significantly higher than the national average of 0.7% [16]. - The average utilization hours of power generation equipment in China decreased by 81 hours year-on-year to 1,777 hours, with gas power generation equipment averaging 1,090 hours, down 239 hours [14]. - The installed capacity for wind power and solar power increased by 17.2% and 25.8% year-on-year, respectively, indicating a strong shift towards renewable energy sources [14]. Project Development and Acquisitions - The group has 21 ongoing projects with a total capacity of nearly 3 million kW as of June 30, 2022 [18]. - The group completed the acquisition of wind and solar project capacity totaling 114,000 kW in the first half of 2022 [18]. - The company acquired Dongyuan County Shunfeng New Energy Co., Ltd. for solar power project development in the first half of 2022 [60]. - The company signed a merger agreement with Beijing Energy Group and a share transfer agreement, resulting in the acquisition of 84.68% of Shenzhen Leasing and the merger of Jingneng International [64]. - The company will continue to focus on new project development through self-construction and acquisitions, targeting resource-rich areas and expanding into new regions [68]. Financial Management and Costs - The group reduced its comprehensive financing cost to 3.56% in the first half of 2022, down from 3.74% in 2021, through low-interest debt financing [19]. - The company issued three tranches of ultra-short-term financing bonds in 2022, raising a total of RMB 55 billion at interest rates ranging from 2.00% to 2.48% [58]. - The company reported a decrease in gas consumption costs to RMB (4,546,272) thousand from RMB (4,653,477) thousand, a reduction of 2.3% [86]. - The company’s financial expenses increased to RMB (716,557) thousand from RMB (637,885) thousand, representing a rise of 12.3% [86]. - The company’s total liabilities as of June 30, 2022, were RMB 30,305,067,000, with RMB 9,510,357,000 due within one year [143]. Renewable Energy Initiatives - The company continues to focus on reform, innovation, and transformation to enhance quality and efficiency, aligning with the new development stage and green low-carbon initiatives [15]. - The company successfully delivered 170 million kWh of green electricity for the Beijing Winter Olympics, achieving 100% green power supply for 26 venues [20]. - Wind power segment revenue increased by 36.85% from RMB 1,601.3 million in H1 2021 to RMB 2,191.3 million in H1 2022 due to increased installed capacity [25]. - Photovoltaic power segment revenue rose by 11.57% from RMB 1,255.3 million in H1 2021 to RMB 1,400.5 million in H1 2022, driven by higher sales volume from increased capacity [26]. - Hydropower segment revenue grew by 13.44% from RMB 146.6 million in H1 2021 to RMB 166.3 million in H1 2022, attributed to increased water inflow [27]. Employee and Organizational Management - The workforce consisted of 3,027 employees, with 46.91% under the age of 35 and 67% holding a bachelor's degree or higher [52][53]. - The company established a multi-level incentive mechanism to enhance employee performance and motivation [54]. - The company is committed to safety management, implementing a "five precision" management approach to enhance safety culture and risk identification [70]. Assets and Liabilities - Total assets increased by 1.69% from RMB 82,214.9 million as of December 31, 2021, to RMB 83,608.3 million as of June 30, 2022, due to increased project investments [47]. - Total liabilities increased by 0.39% from RMB 52,364.6 million as of December 31, 2021, to RMB 52,567.9 million as of June 30, 2022, driven by funding needs for project construction [47]. - The company's equity attributable to shareholders increased by 4.36% from RMB 26,432.6 million as of December 31, 2021, to RMB 27,585.2 million as of June 30, 2022, due to accumulated operating profits [47]. - The company's net asset value reached RMB 31,040,436 thousand, up from RMB 29,850,308 thousand in the previous year [91]. Cash Flow and Investments - The net cash generated from operating activities was RMB 3,892,999,000, an increase from RMB 3,261,205,000 in the same period of 2021 [94]. - The total cash and cash equivalents at the end of the period were RMB 5,315,461,000, compared to RMB 6,653,571,000 at the end of June 2021 [94]. - The net cash used in investing activities was RMB 2,845,440,000, a decrease from RMB 3,121,396,000 in the previous year [94]. - The company’s investment in property, plant, and equipment amounted to RMB 2,493,183,000 during the period [94]. Taxation and Regulatory Compliance - The company has tax incentives in the western region of China, allowing a preferential corporate income tax rate of 15% and a tax exemption for the first three years of operation for eligible projects [131]. - The company did not make any provisions for Hong Kong profits tax as it did not have taxable profits sourced from Hong Kong [131]. - Income tax expense for the six months ended June 30, 2022, was RMB 372,303 thousand, an increase from RMB 329,254 thousand in the same period of 2021, representing an increase of approximately 13.1% [130].

Financial Position - As of March 31, 2022, the total current assets amounted to RMB 18,831,395,139.36, an increase from RMB 18,261,080,190.79 at the beginning of the period[2] - The total non-current assets reached RMB 64,070,523,028.35, up from RMB 63,272,757,241.76 at the beginning of the period[3] - The total assets of the company were RMB 82,901,918,167.71, reflecting an increase from RMB 81,986,696,555.97 at the beginning of the period[3] - The company's long-term equity investments were valued at RMB 3,397,381,985.38, showing a slight increase from RMB 3,342,004,736.77 at the beginning of the period[3] - The fixed assets amounted to RMB 45,160,472,175.62, down from RMB 45,965,932,394.97 at the beginning of the period[3] - The company's goodwill was recorded at RMB 1,048,620,546.19, unchanged from the previous period[3] - The total liabilities of the company were not explicitly stated but can be inferred from the total assets and equity figures[3] Liabilities and Equity - Total liabilities amounted to RMB 51.79 billion, a decrease from RMB 52.25 billion at the beginning of the period, reflecting a reduction of approximately 0.89%[5] - Current liabilities totaled RMB 28.11 billion, down from RMB 28.71 billion at the beginning of the period, indicating a decrease of about 2.09%[4] - Non-current liabilities reached RMB 23.69 billion, slightly increasing from RMB 23.54 billion, representing an increase of approximately 0.63%[5] - The company's total equity attributable to shareholders was RMB 30.71 billion, up from RMB 29.38 billion, marking an increase of about 4.52%[6] - The retained earnings stood at RMB 14.01 billion, an increase from RMB 12.77 billion, reflecting a growth of approximately 9.66%[6] - The total owner's equity was RMB 31.11 billion, reflecting an increase from RMB 29.74 billion, which is an increase of about 4.59%[6] Profit and Revenue - Total operating revenue for the period reached RMB 6,168,563,636.06, an increase from RMB 5,954,095,598.29 in the previous period[7] - Total operating costs amounted to RMB 4,991,151,098.16, compared to RMB 4,821,474,734.90 previously, reflecting a growth in costs[7] - Net profit attributable to the parent company was RMB 1,235,618,698.02, up from RMB 1,165,438,620.88 in the prior period[8] - The company reported a total profit of RMB 1,538,100,218.55, an increase from RMB 1,478,849,159.27 previously[8] Cash Flow - The net cash flow from operating activities was RMB 1,547,583,305.94, a decrease compared to RMB 2,120,417,356.14 in the previous period[11] - Total cash inflow from investment activities amounted to RMB 16,905,343.96, while cash outflow was RMB 1,333,938,238.29, resulting in a net cash flow of -RMB 1,317,032,894.33[11] - Cash inflow from financing activities reached RMB 11,339,660,752.75, with cash outflow totaling RMB 12,400,799,609.20, leading to a net cash flow of -RMB 1,061,138,856.45[12] - The total cash and cash equivalents at the end of the period were RMB 4,270,936,061.53, down from RMB 5,444,683,568.60 at the beginning of the period[12] - The company reported a net increase in cash and cash equivalents of -RMB 825,874,102.55, compared to -RMB 1,341,627,247.61 in the previous period[12] Other Financial Metrics - Research and development expenses were RMB 2,686,559.04, indicating ongoing investment in innovation[7] - The company recognized investment income of RMB 57,186,471.03, significantly higher than RMB 31,473,748.15 previously[7] - Other comprehensive income was reported at RMB 25.05 million, a significant recovery from a loss of RMB 64.60 million previously[6] - Other comprehensive income after tax attributable to the parent company was RMB 89,653,414.03, compared to a loss of RMB 21,904,018.24 in the previous period[9] - The company received government subsidies amounting to RMB 200,000.00 during the reporting period[8] - The net exchange loss was RMB 11,050,762.91, a decrease from the previous period's loss[7] - The company received cash from sales of goods and services amounting to RMB 6,314,383,638.07, compared to RMB 6,591,398,722.97 in the previous period[10] - Cash paid for purchasing goods and services was RMB 3,681,973,600.83, an increase from RMB 3,491,955,313.53 in the prior period[11] - The company paid RMB 806,696,459.08 in taxes, reflecting an increase from RMB 720,644,658.40 in the previous period[11]

Financial Performance - In 2021, the company's total revenue reached RMB 18,358.83 million, an increase from RMB 17,003.31 million in 2020, representing a growth of approximately 7.97%[7]. - The operating profit for 2021 was RMB 4,565.70 million, compared to RMB 3,917.09 million in 2020, indicating a year-over-year increase of about 16.54%[7]. - The net profit attributable to shareholders for 2021 was RMB 2,368.13 million, up from RMB 2,303.39 million in 2020, reflecting a growth of approximately 2.81%[7]. - The company's earnings per share (EPS) for 2021 was RMB 28.72, compared to RMB 27.94 in 2020, representing an increase of about 2.80%[7]. - The group achieved a net profit of RMB 2,489.2 million, a 3.89% increase from RMB 2,396.0 million in 2020[24]. - The operating revenue increased by 7.97% to RMB 18,358.8 million, driven by increased sales from wind and solar power segments[25]. - The company achieved an annual operating revenue of CNY 18.359 billion and a total profit of CNY 3.084 billion in 2021[13]. - The company reported a significant increase in revenue, achieving a total of $X million, representing a Y% growth compared to the previous year[80]. Assets and Liabilities - The company's total assets as of December 31, 2021, amounted to RMB 82,035.85 million, an increase from RMB 70,538.31 million in 2020, marking a growth of about 16.36%[8]. - The total liabilities of the company were RMB 52,372.48 million in 2021, compared to RMB 44,171.46 million in 2020, which is an increase of approximately 18.73%[8]. - Net debt to equity ratio increased from 55.28% as of December 31, 2020, to 57.06% as of December 31, 2021, due to increased debt from project investments[51]. - The registered capital of the company as of December 31, 2021, is RMB 8,244,508,144, divided into 8,244,508,144 shares with a par value of RMB 1.00 per share[89]. Operational Capacity and Development - The company has a total installed capacity of 12,444 MW as of December 31, 2021, with significant contributions from gas, wind, and solar power generation[10]. - The total installed capacity of the group reached 12,444 MW, with a year-on-year increase of 14.6%, surpassing the national growth rate by nearly 7 percentage points[17]. - The company has 5.555 million kilowatts of projects under construction and approval, with high-quality resource project reserves exceeding 37 million kilowatts[13]. - The company operates seven gas-fired cogeneration plants in Beijing, accounting for 40% of the city's gas power generation capacity[10]. Green Development and Sustainability - The company is committed to green development and aims to become a leading clean energy service provider, focusing on innovation and sustainable growth[9]. - The company supplied 60.81 million kilowatt-hours of green electricity to the Winter Olympic venues, marking the first time in Olympic history that 100% green operation was achieved[13]. - The company plans to enhance its green development strategy in 2022, focusing on distributed energy projects and expanding its project base[60]. - The company has set carbon peak targets and established a roadmap and timeline for carbon asset management, aligning with the national "dual carbon" goals[63]. Employee and Management - As of December 31, 2021, the company employed 2,951 people, with 47.85% of employees under the age of 35 and 65.2% holding a bachelor's degree or higher[65][66][67]. - Employee costs surged by 24.06% from RMB 869.9 million in 2020 to RMB 1,079.2 million in 2021, resulting from business expansion and the capitalization of costs for new projects[34]. - The company has implemented a performance assessment system to enhance employee motivation, linking performance results to compensation[68]. - The company provides competitive compensation and various training opportunities to its employees, emphasizing a fair work environment and employee health and safety[141]. Corporate Governance - The board of directors consists of 11 members, including 4 executive directors, 3 non-executive directors, and 4 independent non-executive directors, ensuring a balanced governance structure[161]. - The company has maintained compliance with corporate governance codes throughout 2021, ensuring high standards of accountability and shareholder protection[159]. - The audit committee includes a majority of independent non-executive directors, ensuring oversight of financial reporting and internal controls[169]. - The company has established a shareholder communication policy to ensure timely updates on financial reports and performance announcements, with information uploaded to the company website within one hour of release[188]. Future Outlook and Strategy - The company aims to enhance its development capabilities and competitiveness while focusing on high-quality development and green low-carbon growth in 2022[14]. - The company plans to accelerate digital transformation and strengthen its technological innovation to become a world-class clean energy service provider[14]. - Future guidance indicates a focus on digital transformation, with an expected increase in online sales contributing to I% of total revenue[81]. - The company aims to achieve a year-on-year revenue growth target of 15% for the upcoming fiscal year, driven by increased operational efficiency and market demand[78].