Financial Performance - For the year ending December 31, 2024, the company's revenue was RMB 20,561.7 million, an increase of 0.57% compared to the previous year[4] - The profit attributable to equity holders for the year was RMB 3,245.0 million, representing a growth of 6.13% year-on-year[4] - The basic and diluted earnings per share for the year were RMB 39.36[4] - The company's operating profit for the year was RMB 5,261.1 million, compared to RMB 5,187.9 million in the previous year[5] - The total comprehensive income for the year was RMB 3,367.9 million, up from RMB 3,264.8 million in the previous year[7] - Revenue from customer contracts for the year ended December 31, 2024, was RMB 20,512,847, an increase from RMB 20,364,969 in 2023, representing a growth of 0.73%[17] - Total revenue for the year ended December 31, 2024, reached RMB 20,561,740, compared to RMB 20,446,028 in 2023, indicating a growth of 0.56%[17] - The company reported a year-on-year increase in segment profit to RMB 5,257,422,000 for the year ended December 31, 2024, compared to RMB 5,172,960,000 in 2023[34] - The company reported a net profit attributable to ordinary shareholders of RMB 3,245,045,000 for 2024, up from RMB 3,057,641,000 in 2023, reflecting a growth of about 6.1%[61] Dividends - The board proposed a final dividend of RMB 0.143 per share, totaling approximately RMB 1,179.0 million[3] - The company approved a final ordinary share dividend of RMB 0.1398 per share for the year ending December 31, 2023, totaling RMB 1,152,582,000, to be paid on July 31, 2024[62] - For the year ending December 31, 2024, the board proposed a final ordinary share dividend of RMB 0.1430 per share, amounting to RMB 1,178,964,000, pending shareholder approval[62] - The company will withhold a 10% corporate income tax on dividends distributed to non-resident corporate shareholders[152] - Non-resident individual shareholders will not be subject to Chinese personal income tax on the dividends distributed by the company[153] Assets and Liabilities - Non-current assets increased to RMB 76,988.2 million from RMB 73,782.6 million year-on-year[8] - Cash and cash equivalents rose to RMB 7,401.6 million, compared to RMB 6,605.1 million in the previous year[8] - As of December 31, 2024, the total current liabilities amounted to RMB 28,114,771,000, an increase from RMB 22,211,211,000 in 2023, representing a growth of approximately 26.8%[9] - The net current liabilities stood at RMB (4,049,535,000) as of December 31, 2024, compared to RMB (2,399,402,000) in 2023, indicating a deterioration in liquidity position[9] - Total assets minus current liabilities reached RMB 72,938,670,000 in 2024, slightly up from RMB 71,383,230,000 in 2023[9] - Non-current liabilities decreased to RMB 35,455,895,000 in 2024 from RMB 36,862,552,000 in 2023, reflecting a reduction of about 3.8%[9] - The company's net asset value increased to RMB 37,482,775,000 in 2024, up from RMB 34,520,678,000 in 2023, marking an increase of approximately 8.5%[9] - The total equity attributable to equity holders of the company rose to RMB 33,161,082,000 in 2024, compared to RMB 30,678,046,000 in 2023, representing a growth of about 8.1%[9] - Total assets reached RMB 1010.5 billion by the end of 2024, marking an 8.0% increase year-on-year, and the first time total assets surpassed the RMB 100 billion mark[76] Revenue Segmentation - The revenue breakdown for 2024 shows electricity sales at RMB 18,342,675, heat sales at RMB 2,157,466, and maintenance services at RMB 12,706[21] - The report indicates that the performance of the gas power and heating segment generated revenue of RMB 12,410,304, while wind power, solar power, and hydropower contributed RMB 4,709,301, RMB 3,086,397, and RMB 294,139 respectively[30] - The revenue from the gas power and heating segment decreased by 1.26% from RMB 12,568.2 million in 2023 to RMB 12,410.3 million in 2024, primarily due to a reduction in electricity prices and sales volume[102] - The wind power segment's revenue increased by 4.38% from RMB 4,511.9 million in 2023 to RMB 4,709.3 million in 2024, attributed to an increase in grid-connected capacity[103] - The photovoltaic segment's revenue rose by 4.35% from RMB 2,957.8 million in 2023 to RMB 3,086.4 million in 2024, also due to increased grid-connected capacity[105] - The hydropower segment's revenue decreased by 8.86% from RMB 322.7 million in 2023 to RMB 294.1 million in 2024, resulting from a decline in sales volume[106] Government Support and Subsidies - The company received government subsidies related to clean energy production amounting to RMB 22,760 and subsidies related to asset construction totaling RMB 60,887[30] - The company received government subsidies related to clean energy production amounting to RMB 589,835,000, with additional subsidies for asset construction totaling RMB 42,650,000[32] Strategic Initiatives and Future Outlook - The company anticipates continued growth in revenue and profitability driven by increased demand for clean energy solutions and government support[40] - The company plans to enhance its market presence through strategic investments in new technologies and potential acquisitions in the renewable energy sector[40] - The company is focusing on developing renewable energy businesses and exploring hydrogen energy and energy storage to adapt to macroeconomic changes[145] - The company plans to accelerate the development of strategic emerging projects, including the completion of the first batch of the integrated wind and sand control project in Xilin Gol League[95] - The company aims to enhance its market awareness and utilize AI tools to optimize trading strategies and improve marketing efficiency[92] - The company will actively explore new business models such as "new energy+" and virtual power plants to solidify its foundation for high-quality development[96] Corporate Governance - The company is committed to maintaining high standards of corporate governance and has complied with the relevant rules during the year ending December 31, 2024[156] - The audit committee has reviewed the group's annual performance and the financial statements prepared in accordance with international financial reporting standards[160] - The annual performance announcement is published on the Hong Kong Stock Exchange's "Disclosure Easy" website and the company's website[161] - The company will release its 2024 annual report containing all information required by the Listing Rules at an appropriate time[161] Research and Development - Research and development investment for the year was approximately RMB 880 million, with an R&D intensity of 3.6%, resulting in 19 invention patents and 76 utility model patents[86] Market Position and Recognition - The group was recognized as one of the "Top 500 Global New Energy Enterprises" and ranked among the "Top 100 ESG Best Practices" in 2024[88]
京能清洁能源(00579) - 2024 - 年度业绩