华润电力(00836) - 2019 - 年度财报

Operational Capacity and Energy Generation - As of December 31, 2019, CR Power operated 36 coal-fired power plants, 96 wind farms, 21 photovoltaic power plants, 2 hydro-electric plants, and 3 gas-fired power plants, with a total attributable operational generation capacity of 40,392 MW[7]. - The attributable operational generation capacity in renewable energy (wind, hydro-electric, and photovoltaic) totaled 9,420 MW, accounting for approximately 23.3% of the total capacity[7]. - CR Power's thermal power generation capacity includes 1,000MW, 600MW, and 300MW plants across various locations[13]. - The company operates multiple renewable energy projects, including wind and photovoltaic plants, contributing to a diversified energy portfolio[13]. - CR Power's renewable energy projects account for 62.94% of its total energy generation capacity[13]. - The total installed capacity across various provinces is 1,950 MW in Jiangsu, 2,000 MW in Guangdong, and 1,840 MW in Henan, among others[14]. - The Group's total attributable operational generation capacity was 40,392 MW, with thermal power plants accounting for 76.7%[161]. - The average full-load equivalent utilization hours of the Group's coal-fired power plants was 4,725 hours, a decrease of 5.5% from 2018, but exceeding the national average by 432 hours[161]. - The attributable generation capacity of newly commissioned wind and photovoltaic power projects reached 1,871 MW and 5.1 MW respectively in 2019[163]. - The average utilization hours for wind power generation units of the Group was 2,201 hours, exceeding the national average by 119 hours[162]. - The Group's attributable operational wind power generation capacity was 8,687 MW, with 3,809 MW under construction at the end of 2019[163]. - The Group's attributable operational photovoltaic generation capacity reached 453 MW, with 98 MW under construction[163]. Financial Performance - In 2019, the company's turnover was HK$67,757.6 million, a decrease from HK$76,940.1 million in 2018, representing a decline of approximately 11.4%[9]. - Profit attributable to owners of the company for 2019 was HK$6,950.3 million, an increase of 75.7$3,950.4 million in 2018[9]. - Basic and diluted earnings per share attributable to owners of the company were both HK$1.37 in 2019, up from HK$0.83 in 2018[9]. - The company declared a dividend per share of HK$0.548 for 2019, compared to HK$0.328 in 2018, marking a 67.1% increase[9]. - Revenue for the year decreased by 11.9% compared to the previous year, totaling HK$67.758 billion, primarily due to business restructuring from the disposal of coal mining assets in 2018[18]. - Profit attributable to owners of the company increased by approximately 66.8$6.59 billion[18]. - The Group's consolidated turnover for the year ended December 31, 2019, was HK$67,757,632, a decrease of 11.4$76,940,125 in 2018[184]. - Operating profit increased to HK$12,888,458 in 2019, compared to HK$11,348,285 in 2018, reflecting a growth of 13.6%[184]. - Profit for the year attributable to owners of the Company rose to HK$6,590,345, up from HK$3,950,435 in 2018, representing a significant increase of 67.1%[184]. - Total operating expenses decreased to HK$57,862,974 in 2019 from HK$66,175,052 in 2018, a reduction of 12.5%[184]. - The Group's profit before income tax for 2019 was HK$9,653,016, compared to HK$7,311,175 in 2018, marking a growth of 32.0%[184]. Investments and Capital Expenditure - Non-current assets increased to HK$186,166.2 million in 2019 from HK$178,274.1 million in 2018, reflecting a growth of approximately 4.0%[9]. - The Group's cash capital expenditure in 2019 was approximately HK$22,786 million, with HK$17,685 million allocated to renewable energy projects[173]. - The expected cash capital expenditure for 2020 is approximately HK$24 billion, with HK$19 billion earmarked for renewable energy projects[180]. - The Group plans to develop a total of 1,222 MW of new coal and gas power generation capacity in 2020, including a 1,000 MW supercritical unit in Hebei[181]. Environmental and Social Responsibility - The company invested RMB1.828 billion in environmental protection, improving key indicators of energy consumption and emissions[26]. - The average net generation standard coal consumption rate decreased to 296.64 g/kWh, down by 2.90 g/kWh from 2018[26]. - The company captured approximately 20,000 tonnes of carbon dioxide annually through its carbon capture testing platform, contributing to waste resource utilization[28]. - The company participated in charitable activities, donating approximately RMB117 million to support poverty alleviation and education initiatives[32]. - By the end of 2019, a total of 515 MW of renewable energy projects were implemented, contributing over RMB 36 million annually to poverty alleviation and effectively lifting approximately 36,000 people out of poverty[33]. - The company donated approximately RMB 117 million to social causes throughout the year, including poverty alleviation and educational support, while also creating 855 new jobs[35]. Strategic Initiatives and Future Outlook - The company aims to enhance service capabilities and customer engagement while focusing on industrial energy efficiency and smart energy solutions[2]. - CR Power plans to continue promoting advanced technologies such as energy storage and hydrogen energy in its operations[2]. - The company is focusing on expanding its renewable energy portfolio, particularly in wind and photovoltaic projects across multiple provinces[14]. - Future outlook includes maintaining high effective equity interests and increasing installed capacity in key regions[14]. - The company is exploring new technologies and products to enhance operational efficiency and sustainability in energy production[14]. - The company aims to enhance service capabilities and customer loyalty while expanding its power sales business in response to market reforms[38]. - The company plans to actively stock up on quality wind and solar power resources in Northern, Northeastern, and Northwestern China, as well as offshore locations, to drive earnings growth[37]. - The Group plans to accelerate the construction of wind power projects in response to the government's grid parity policy starting in 2021[176]. Governance and Leadership - The company has a diverse board with members holding qualifications from prestigious institutions, enhancing governance and oversight[52]. - The board includes members with significant experience in various sectors, including law, finance, and public service, contributing to strategic decision-making[53]. - The company has a strong leadership team with diverse backgrounds in finance, governance, and industry experience, enhancing its strategic decision-making capabilities[54][55][57][58]. - The management team collectively brings decades of experience in the energy sector, which is critical for navigating market challenges and opportunities[62]. - The leadership team's diverse expertise positions the company well for future challenges and opportunities in the energy sector[65]. Risks and Compliance - The Group faces various risks, including operational, policy, industry, market, business, and financial risks, which are outlined in the report[69]. - The Group has complied with all relevant laws and regulations that significantly impact its operations during the year ended December 31, 2019[75]. - The company has complied with the disclosure requirements regarding connected transactions for the year ended December 31, 2019[147]. - The auditor issued an unqualified letter regarding the continuing connected transactions disclosed by the group[141].