Electricity Consumption and Demand - In 2024, China's electricity consumption increased by 6.8%, outpacing GDP growth of 5%[10] - The number of newly registered electric vehicles surged to 11.25 million in 2024, up from 1.2 million in 2019, contributing to rising electricity demand[11] - Electricity consumption as a percentage of total energy consumption rose to 28.1% in 2023, compared to 25.5% in 2020, with expectations to reach 35% by 2030[11] - Total electricity generation reached 1,327.6 GWh, resulting in a reduction of approximately 430,000 tons of coal consumption and a decrease of 1,028,000 tons in carbon emissions[93] Wind and Solar Capacity - Wind capacity in China increased by 18% to 548 GW, while solar capacity rose by 45% to 854 GW, ahead of the 1,200 GW target for 2030[12] - Total wind power output increased by approximately 16.0% to 991,600 GWh, accounting for 11% of total power generation in China[53] - The Group operates 738 MW of wind and distributed solar projects across several provinces in China, contributing to local economic development[93] Power Dispatch and Performance - Total power dispatch from the company's wind farms in 2024 was 1,323.1 GWh, a decrease of 7% from 2023[13] - Power dispatch at Mudanjiang, Siziwang Qi, Danjinghe, Changma, and Songxian decreased by 7.5%, 8.1%, 11.6%, 13.5%, and 11.8% respectively[13] - Power dispatch at Lunaobao increased by 30% due to the construction of a new transmission line, reducing curtailment[13] - The performance of the wind farms was impacted by adverse weather conditions, particularly in the Songxian project[67] Financial Performance - For the year ended December 31, 2024, the Group recorded a turnover of HK$163.1 million, a 10% decrease from HK$181.3 million in 2023 due to poor wind conditions[38] - Gross profit declined 37% to HK$32.9 million compared to HK$52.1 million in 2023[38] - Net profit attributable to equity holders decreased 29% to HK$16.5 million, with earnings per share of HK$0.66, down from HK$23.3 million and HK$0.93 per share in 2023[40] - The Group's associate wind farms experienced a 61% decline in net profit to HK$22.2 million from HK$57.1 million in the previous year[39] Debt and Financial Management - The Group's finance costs dropped 52% to HK$11.6 million as a result of loan repayments, down from HK$24.2 million in 2023[29][38] - As of December 31, 2024, total bank borrowings were reduced to HK$227.6 million from HK$287.8 million in 2023, primarily due to principal repayments[41] - The Group's cash management resulted in a strong balance sheet, with bank deposits and cash totaling HK$232.2 million against bank borrowings of HK$227.6 million, yielding a net debt equity ratio of 0%[33][35] Corporate Governance - The Company is committed to good corporate governance principles and practices, ensuring accountability, transparency, and responsibility towards stakeholders[112] - The Company complied with the Corporate Governance Code during the year ended 31 December 2024, with a noted deviation regarding the separation of roles between the chairman and CEO[113][114] - The current structure has the CEO functions performed by the Chairman, Mr. OEI Kang, Eric, which the Board believes does not impair the balance of power[114] - The Board consists of seven directors, including four Executive Directors and three Independent Non-executive Directors, ensuring a balanced and independent governance structure[125] Diversity and Inclusion - The Company has appointed one female director to enhance board gender diversity as of May 31, 2024[126] - The Board consists of seven Directors, with a gender ratio of six males to one female, and plans to appoint an additional female director by May 31, 2024, to enhance gender diversity[179] - The Group's workforce gender ratio is approximately 8:2, indicating a commitment to diversity at all levels[180] Risk Management and Strategy - Risk management is integrated into daily business processes, covering project operations to corporate strategy development[74] - The Group's strategy "Grow Advance Sustain" focuses on evaluating investment opportunities based on economic, environmental, and social benefits[73] - The Group aims to continue developing renewable energy projects and seek growth investment opportunities[73] Future Outlook - The Chinese government aims to maintain a 5% GDP growth rate and increase the budget deficit to 4% to stimulate economic growth in 2025[78] - Wind speed increased by 11% year-on-year in January and February 2025, leading to a 37% year-on-year increase in electricity generation, and a 15% increase compared to the same period in 2023[79] - China's clean energy capacity has reached over 40% of the total energy generation capacity, with a shift to a market-based pricing system for new wind power projects expected by the end of 2025[80] Community and Environmental Commitment - The Group is committed to decreasing carbon emissions by investing in renewable energy projects and contributing to local communities[92] - The Company aims to continue investing in various renewable energy projects to support carbon emission reduction goals[94] - The Company is committed to complying with all local environmental regulations for its operational assets by 2024[93]

最近一个月来，中国再生能源投资累计跌幅11.93%，今年来累计跌幅11.93%，跑输恒生指数6.77%的涨 幅。 4月15日，截至港股收盘，恒生指数上涨0.23%，报21466.27点。中国再生能源投资（00987.HK）收报 0.103港元/股，上涨7.29%，成交量2.79万股，成交额2697港元，振幅8.33%。 资料显示，中国再生能源投资有限公司于2002年成立,中国再生能源为中国可再生能源行业其中一名外 来投资者兼运营商。作为一个先驱者并拥有超过十年的经验,公司在协助国家减少碳排放及实现非化石 燃料使用目标方面,担当关键角色。中国再生能源贯彻其清晰的投资策略谨慎地投资高质素的可再生能 源项目,并平衡公司业务中经济、社会及环境各方面的因素,以创造股东价值。中国再生能源在筛选方面 更为严格,且不会不惜代价实现增长,故中国再生能源的利用小时较全国平均水平为高,且装机容量的每兆 瓦时产生的现金值居于行业前列。目前,中国再生能源拥有八座风力发电场及一个分布式太阳能项目,总 容量合计为738兆瓦,而权益容量为427兆瓦。其中包括两个位于黑龙江省牡丹江,合共59.5兆瓦风力发电 场(分别占86%权益及86.7%权 ...

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was HKD 163,065,000, a decrease of 10.0% from HKD 181,337,000 in 2023[2] - The gross profit for the same period was HKD 32,947,000, down 36.8% from HKD 52,145,000 in 2023[2] - Operating profit improved to HKD 7,598,000 compared to an operating loss of HKD 9,868,000 in the previous year[2] - The profit attributable to equity holders for the year was HKD 14,409,000, down 23.0% from HKD 18,790,000 in 2023[3] - The total comprehensive loss for the year amounted to HKD 39,868,000, compared to a loss of HKD 28,230,000 in 2023[3] - The basic and diluted earnings per share for the year were HKD 0.66, down from HKD 0.93 in 2023[3] - The company's profit attributable to equity holders for 2024 was HKD 16,475,000, down 29.2% from HKD 23,281,000 in 2023[19] - Earnings per share for 2024 was HKD 0.66, compared to HKD 0.93 in 2023, reflecting a decrease of 29.0%[19] Assets and Liabilities - Non-current assets decreased to HKD 1,534,505,000 from HKD 1,730,040,000 in the previous year, indicating a reduction in asset value[4] - Current assets increased to HKD 596,608,000 from HKD 521,174,000, showing improved liquidity[4] - Total liabilities decreased to HKD 309,531,000 from HKD 377,233,000, reflecting a reduction in financial obligations[5] - The total bank borrowings decreased to HKD 227.6 million from HKD 287.8 million in 2023, primarily due to the repayment of existing project loan principal[29] - The net capital debt ratio as of December 31, 2024, was 0%, down from 7% in the previous year[32] - The company has a net capital debt ratio of 0%, indicating one of the strongest balance sheets in the industry[47] Revenue Sources - Power sales for the year 2024 amounted to HKD 163,065,000, a decrease of 10.0% from HKD 181,337,000 in 2023[12] - Total revenue from external customers for the year 2024 was HKD 163,100,000, down from HKD 181,300,000 in 2023, representing a decline of 10.0%[13] - The company has three customers contributing over 10% of total revenue, with the largest customer accounting for HKD 69,200,000 in 2024[13] Financing Costs - The net financing cost decreased significantly to HKD 11,643,000 from HKD 24,165,000, reflecting a reduction in financing costs[2] - Financing costs decreased to HKD 14,598,000 in 2024 from HKD 28,081,000 in 2023, a reduction of 48.0%[16] Dividends - Proposed final dividend for 2024 is HKD 0.005 per share, unchanged from 2023[20] - The company did not declare any interim dividends for the six months ending June 30, 2024, and declared a final cash dividend of HKD 0.005 per share for the year ending December 31, 2023[21][22] - The proposed final dividend is set at HKD 0.005 per ordinary share for the year ending December 31, 2024[52] Impairment and Accounting Standards - The company recognized a net impairment loss of HKD 30,620,000 in 2023, with no impairment losses recorded in 2024[14] - The company expects the application of new accounting standards to impact future financial statements, particularly in the presentation and disclosure of the income statement[11] - The company is currently evaluating the specific impact of the new Hong Kong Financial Reporting Standards on its consolidated financial statements[11] Renewable Energy Projects - The total installed capacity of the company's wind and solar projects reached 738 MW, with a net generation capacity of 427 MW[34] - The total electricity generation from the company's wind farms in 2024 was 1,323.1 GWh, a decrease of 7% from 1,423.8 GWh in 2023[35] - The total installed capacity of the Mudanjiang and Muling wind farms is 59.5 MW, with a generation of approximately 49.4 GWh in 2024, a decrease of 7.5% from 53.4 GWh in 2023[36] - The total installed capacity of the Siziwangqi Phase I and II wind farms is 99 MW, generating about 193.2 GWh in 2024, down 8.1% from 210.3 GWh in 2023[37] - The company holds a 40% stake in the 200 MW Danjinghe wind farm, which generated approximately 356.7 GWh in 2024, a decrease of 11.6% from 403.7 GWh in 2023[38] - The Changma wind farm, with a capacity of 201 MW, generated about 403.8 GWh in 2024, down 13.5% from 466.7 GWh in 2023[39] - The Lvnabao wind farm, with a capacity of 100.5 MW, saw an increase in generation to approximately 200.2 GWh in 2024, up 30.0% from 154.0 GWh in 2023[40] - The Songxian wind farm, with a total capacity of 74 MW, generated about 119.8 GWh in 2024, a decrease of 11.8% from 135.8 GWh in 2023[41] - The Nanzhen distributed solar project generated approximately 4.5 GWh in 2024, a decrease of 2.2% from 4.6 GWh in 2023[42] - The company plans to continue developing renewable energy projects and seek investment opportunities to enhance profitability and create long-term value[43] - The company plans to replace old 0.85 MW wind turbines with new 6.66 MW turbines, increasing the number of turbines from 70 to 9[46] - The company is seeking to increase the height of wind towers from 65 meters to 140 meters to capture higher wind speeds[46] - The company will continue to support carbon emission reduction goals through investments in various renewable energy projects[50] - The company has decided to suspend the development of new wind power plants until electricity pricing and demand become clearer[46] Human Resources and Governance - The company aims to improve and strengthen human resources through external recruitment and internal transfers in 2024[48] - The board of directors consists of seven members, including executive and independent non-executive directors[61] Future Outlook - The Chinese government aims for a GDP growth rate of 5% in 2025, which is expected to drive strong electricity demand due to various economic stimulus measures[45] - Wind speed increased by 11% in January and February 2025, leading to a 37% year-on-year increase in generation, compared to a 15% increase from the same period in 2023[45] Reporting and Compliance - The preliminary performance announcement aligns with the audited consolidated financial statements for the year ending December 31, 2024[58] - The annual report containing all information required by the listing rules will be published on the company's and the stock exchange's websites[59]

China Renewable Energy Investment Limited 中國再生能源投資有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號 : 987 2024 Interim Report 中 期 業 績 報 告 Contents Pages 頁次 Corporate Information 2 公司資料 Management Discussion and Analysis 4 管理層討論及分析 General Information 13 一般資料 Report on Review of Interim Financial Information 20 中期財務資料的審閱報告 Condensed Consolidated Statement of Comprehensive Income 22 簡明綜合全面收入報表 Condensed Consolidated Statement of Financial Position 24 簡明綜合財務狀況表 C ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部 份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA RENEWABLE ENERGY INVESTMENT LIMITED 中國再生能源投資有限公司 （於開曼群島註冊成立之有限公司） （股份代號：987） （網址：www.cre987.com） 截至二零二四年六月三十日止六個月之 中期業績公告 中國再生能源投資有限公司（「本公司」或「中國再生能源」）董事會（「董事會」）謹此公佈 本公司及其附屬公司（統稱「本集團」）截至二零二四年六月三十日止六個月之未經審 核簡明綜合中期財務資料如下： 簡明綜合全面收入報表 截至二零二四年六月三十日止六個月 | --- | --- | --- | --- | |---------------------|-------|-------------------------------------|----------------| | | 附註 | 截至六月三十日止六個月 \n二零二四年 | 二零二三年 | | ...

ai171376407239_240626 (CRE Investment) AR23_Cover_B01_OP.pdf 1 22/4/2024 13:34:32 Project in China 在中國之項目 Contents目錄 2 Corporate Information 公司資料 4 Chairman's Statement 主席報告書 8 Management Discussion and Analysis 管理層討論及分析 18 Directors and Senior Management 董事及高級管理層 21 Corporate Governance Report 企業管治報告 59 Environmental, Social and Governance Report 環境、社會及管治報告 78 Report of the Directors 董事會報告書 89 Independent Auditor's Report 獨立核數師報告 97 Consolidated Statement of Comprehensive Income 綜合全面收入報表 99 Consolidated St ...

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 181,337,000, a decrease of 8.06% from HKD 197,184,000 in 2022[3] - Gross profit for the same period was HKD 52,145,000, down 19.4% from HKD 64,665,000 in the previous year[3] - Operating loss for the year was HKD 9,868,000 compared to an operating profit of HKD 17,027,000 in 2022[3] - Net profit for the year was HKD 18,790,000, a decline of 37.0% from HKD 29,819,000 in 2022[4] - Basic and diluted earnings per share for the year were HKD 0.93, down from HKD 1.24 in 2022[4] - The group reported a net profit attributable to equity holders of HKD 23,281,000 for 2023, down 25.1% from HKD 31,111,000 in 2022, resulting in earnings per share of HKD 0.93[25] Assets and Liabilities - Total assets decreased to HKD 2,251,214,000 from HKD 2,618,999,000, representing a reduction of 14.0%[6] - Non-current assets totaled HKD 1,730,040,000, down 9.05% from HKD 1,902,662,000 in the previous year[6] - Current assets decreased to HKD 521,174,000 from HKD 716,337,000, a decline of 27.3%[6] - Total liabilities decreased significantly to HKD 377,233,000 from HKD 704,257,000, a reduction of 46.6%[7] - The total bank borrowings as of December 31, 2023, were HKD 287.8 million, down from HKD 440.9 million in 2022, primarily due to repayment of existing project loans[37] - The company had bank deposits and cash of HKD 164.3 million as of December 31, 2023, compared to HKD 232.4 million in 2022[39] - The net capital debt ratio decreased to 7% as of December 31, 2023, from 20% in the previous year[42] Revenue Sources - Total revenue from electricity sales for the year 2023 was HKD 181,337,000, a decrease of 8.1% from HKD 197,184,000 in 2022[18] - The group has three customers contributing over 10% of total revenue, with revenues of HKD 79,100,000, HKD 72,100,000, and HKD 25,200,000 respectively[19] Impairment and Financial Income - The group recognized a total impairment loss of HKD 30,620,000 in 2023, compared to no impairment losses in 2022[20] - The company reported a significant increase in financial income to HKD 3,916,000 from HKD 1,791,000 in the previous year[3] Cash Flow and Expenses - Cash flow from operating and investing activities increased to HKD 289.5 million, driven by strong cash flow from the company's wind power projects[35] - Financing costs decreased to HKD 28,081,000 in 2023 from HKD 36,173,000 in 2022, reflecting a reduction in bank loan interest expenses[22] - The group incurred a net foreign exchange loss of HKD 5,011,000 in 2023, a decrease from HKD 24,759,000 in 2022[22] - The company experienced a foreign exchange loss of HKD 5 million in 2023, significantly lower than the HKD 24.8 million loss in 2022[35] Dividends - The proposed final dividend for 2023 is HKD 0.005 per share, totaling HKD 12,531,000, unchanged from 2022[26] - The board has proposed a final dividend of HKD 0.005 per share for the year ending December 31, 2023, consistent with the previous year[69] Operational Focus and Strategy - The company has not reported any significant operations outside of China, focusing solely on the renewable energy segment[18] - The company operates eight wind farms and one distributed solar project, with a focus on expanding renewable energy projects[56] - The company aims to enhance profitability and create lasting value for shareholders through continuous innovation and operational improvements[56] - The company plans to continue investing in various renewable energy projects to support carbon emission reduction goals[66] - The company has maintained a cautious approach to expansion due to increased power rationing and declining electricity prices[61] Market and Industry Insights - China's GDP grew by 5.2% in 2023, with total electricity consumption increasing by 6.7% to 9,224,000 GWh[44] - Installed capacity for wind and solar power in China increased by 27.5% and 38.7%, reaching 464 GW and 589 GW respectively[44] - Total wind power generation output was 1,050,000 GWh, up approximately 38.5% year-on-year, accounting for 9% of the national total[44] - Total solar power generation output was 610,000 GWh, up approximately 41.2% year-on-year, accounting for 3% of the national total[44] - China's GDP growth is projected to be at least 5% in 2024, with electricity demand expected to increase by 6.0%[60] - The installed capacity of wind and solar energy is anticipated to reach 1,300 GW by the end of this year, exceeding the initial target of 1,200 GW set for 2030[60] - By the end of 2024, wind and solar energy capacity is expected to surpass coal-fired capacity, accounting for 40% of the total installed capacity[60] Environmental Impact - The company's total electricity generation for the company was 1,428.4 GWh, resulting in a reduction of approximately 463,000 tons of coal consumption and a decrease of 1,106,000 tons in carbon emissions[65] - The company is actively seeking to upgrade aging wind farms, encouraged by new policies from the National Energy Administration[61] Governance and Compliance - The roles of the Chairman and CEO are separated, with the current CEO being Mr. Huang Gang, who also serves as the Chairman[73] - The company has adopted the standard code of conduct for directors' securities trading, confirming compliance by all directors for the year ending December 31, 2023[74] - An Audit Committee has been established, consisting of three members, all of whom are independent non-executive directors, to review the audited financial statements for the year ending December 31, 2023[75] - The preliminary performance announcement aligns with the audited financial statements, confirming the accuracy of the financial data presented[77] - The annual report for 2023 will be published on the company's website and the Hong Kong Stock Exchange website, containing all required information[78] - The board of directors consists of six members, including three executive directors and three independent non-executive directors[80] Workforce - The company employs a total of 94 employees across its operations in Hong Kong and mainland China, focusing on attracting and retaining skilled personnel[64]

Tariff subsidy receivables of HK$274.0 million (31 December 2022: HK$271.5 million) was unbilled and has been classified under 'less than 30 days' in the above ageing analysis, while the remaining of HK$10.7 million (31 December 2022: HK$13.3 million) has issued invoices. 二零二二年末期股息每股普通股0.5港 仙，金額為12,531,000港元，已於二零 二三年七月六日派發予本公司股東。 14 TRADE AND OTHER PAYABLES (CONTINUED) 中國再生能源投資有限公司 China Renewable Energy Investment Limited 2023 中期 業 績 報 告 Pages 頁次 Management Discussion and Analysis 4 管理層討論及分析 Report on Revi ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部 份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA RENEWABLE ENERGY INVESTMENT LIMITED 中國再生能源投資有限公司 （於開曼群島註冊成立之有限公司） （股份代號：987） （網址：www.cre987.com） 截至二零二三年六月三十日止六個月之 中期業績公告 中國再生能源投資有限公司（「本公司」或「中國再生能源」）董事會（「董事會」）謹此公佈 本公司及其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月之未經審 核簡明綜合中期財務資料如下： 簡明綜合全面收入報表 截至二零二三年六月三十日止六個月 未經審核 截至六月三十日止六個月 附註 二零二三年 二零二二年 千港元 千港元 收益 5 97,820 108,343 ...

China Renewable Energy Investment Limited China 中國再生能源投資有限公司 Renewable Stock Code 股份代號 : 987 Energy Investment Limited 中國再生能源投資有限公司 A ...