GOLDWIND(002202)2025-03-28 13:40Financial Performance - The total operating revenue for 2024 reached ¥56,699,162,790, representing a 12.37% increase compared to ¥50,457,189,147 in 2023[18]. - The net profit attributable to shareholders was ¥1,860,446,163, marking a 39.78% increase from ¥1,330,997,963 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥1,777,275,338.53, up 38.26% from ¥1,285,485,594.34 in 2023[18]. - The net cash flow from operating activities was ¥2,315,845,800, a 24.91% increase from ¥1,854,041,184 in 2023[18]. - Basic earnings per share increased by 46.09% to ¥0.4206 from ¥0.2879 in the previous year[18]. - Total assets at the end of 2024 amounted to ¥155,224,285,481, an 8.17% increase from ¥143,494,599,670 in 2023[18]. - The weighted average return on net assets for 2024 was 4.91%, up from 3.45% in 2023[18]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥1.40 per 10 shares, based on a total share capital of 4,222,239,474 shares[4]. - The company reported a cash dividend of RMB 422,506,764.70, distributing RMB 1.0 per 10 shares based on a total share capital of 4,225,067,647 shares[184]. - The total cash dividend, including other methods, amounted to RMB 1,033,498,058.02, representing 100% of the total profit distribution[186]. - The cash dividend distribution is based on a total share capital of 4,222,239,474 shares after accounting for repurchased shares[187]. Operational Highlights - The company has engaged Deloitte as its accounting firm for the reporting period[18]. - The company has no changes in its main business since its listing[17]. - The company has implemented retrospective adjustments for quality assurance liabilities amounting to 2,058,312,926.77 CNY in the consolidated financial statements for 2023[20]. - The company anticipates that the new accounting standards will not have a significant impact on its financial statements starting January 1, 2024[19]. Market and Industry Insights - The total installed power generation capacity in the country reached approximately 3.35 billion kilowatts, a year-on-year increase of 14.6%[27]. - The national electricity consumption for 2024 is projected to be 9,852.1 billion kilowatt-hours, reflecting a year-on-year growth of 6.8%[27]. - In 2024, China's wind power installed capacity reached 79.82 million kW, a 6% increase year-on-year, with a total installed capacity of approximately 520 million kW, representing an 18% growth[37]. - The average utilization rate of wind power in China remained stable at 95.9%, with a total wind power generation of 991.6 billion kWh in 2024, marking a 16% increase from the previous year[38]. Research and Development - The company launched the new flagship model GWH300-20 (25) MW for deep-sea applications, which is expected to reduce the levelized cost of electricity (LCOE) by 10%[55]. - The company established a global R&D layout of "1+1+6", with 7 regional centers and 5 global solution factories, enhancing its international capabilities across 47 countries[48]. - The company’s GWHV17 platform has become a benchmark product for high wind speed areas, achieving over 10 GW in single platform deliveries for two consecutive years[54]. - The company’s new wind resource assessment software "Wind Craftsman 3.0" received the first DNV certification in the country, optimizing the assessment process for specific site evaluations[56]. Sales and Market Performance - The revenue from the sales of wind turbines and components was RMB 38,920.58 million, representing a year-on-year growth of 18.17%, accounting for 68.65% of the total revenue; the external sales capacity of turbines reached 16,052.99 MW, an increase of 16.56% year-on-year[50]. - The total external orders on hand reached 36,445.72 MW, with a year-on-year growth of 55.93%, including 7,031.82 MW from overseas orders[52]. - The company achieved a domestic wind power installation capacity of 18.67 GW, capturing a market share of 22%, maintaining the top position in China for 14 consecutive years; globally, the new installation capacity reached 19.3 GW with a market share of 15.9%, also ranking first for three consecutive years[49]. Financial Management and Investments - The company reported a significant increase in revenue, achieving a total of $1.5 billion for the quarter, representing a 20% year-over-year growth[149]. - The total debt-to-equity ratio improved to 0.5, reflecting a stronger financial position[157]. - The company has initiated a sustainability program aimed at reducing carbon emissions by 40% by 2030[158]. - The company has established a long-term incentive mechanism in 2024, linking executive compensation to performance metrics[194]. Governance and Compliance - The company has no controlling shareholder or actual controller, maintaining independence in operations, personnel, assets, and finances[133]. - The company emphasizes compliance with legal regulations and maintains a governance structure that aligns with the requirements of the Company Law and relevant regulations[132]. - The company has established a comprehensive internal control system that meets the requirements of the Ministry of Finance and the China Securities Regulatory Commission, ensuring the effectiveness of internal controls[196]. - The internal control self-assessment report for 2024 indicates that the company has no significant internal control deficiencies during the reporting period[199]. Human Resources and Employee Management - The total number of employees at the end of the reporting period was 11,126, including 802 at the parent company and 10,324 at major subsidiaries[179]. - The company has a training program with an average of 47.3 hours of training per employee planned for 2024[182]. - The company has a competitive salary management system, focusing on responsibility, capability, and performance as key evaluation criteria[180]. - The company’s management team includes several vice presidents with salaries ranging from CNY 2.59 million to CNY 5.13 million[168].