Financial Performance - The company’s financial report is guaranteed to be true, accurate, and complete by the board of directors and senior management[9]. - The company achieved operating revenue of RMB 3,398,572,272.66, a decrease of 14.08% compared to CNY 3,955,548,511.61 in 2023[26]. - Net profit attributable to shareholders for 2024 is CNY 585,082,147.27, down 7.02% from CNY 629,281,357.74 in 2023[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is CNY 578,600,321.04, a decrease of 6.36% from CNY 617,906,499.99 in 2023[26]. - The net cash flow from operating activities increased by 47.13% to CNY 1,438,470,488.62 in 2024, compared to CNY 977,677,149.93 in 2023[26]. - The net assets attributable to shareholders at the end of 2024 are CNY 8,052,817,092.46, an increase of 3.14% from CNY 7,807,439,716.26 at the end of 2023[26]. - Total assets at the end of 2024 are CNY 21,988,772,935.44, a decrease of 2.43% from CNY 22,537,265,642.95 at the end of 2023[26]. - Basic earnings per share decreased by 6.67% to RMB 0.42 in 2024 compared to RMB 0.45 in 2023[27]. - The weighted average return on equity fell to 7.32% in 2024, down from 8.31% in 2023, a decrease of 0.99 percentage points[27]. - The total comprehensive income attributable to the parent company's shareholders for the reporting period was RMB 585,082,147.27, a decrease from RMB 629,281,357.74 in the same period of 2023, primarily due to a reduction in net profit[125]. Dividend and Shareholder Returns - The company announced a cash dividend of RMB 0.2 per share (pre-tax) based on the total share capital as of the profit distribution record date[6]. - The company will not increase share capital from reserves or issue bonus shares for the fiscal year 2024[6]. - The company will carry forward the remaining undistributed profits to the next fiscal year[6]. - The company has implemented a mid-term cash dividend for the first time and established a three-year shareholder dividend return plan (2024-2026)[35]. - The company plans to pay a final dividend of RMB 0.2 per share (pre-tax) for the year ending December 31, 2024, totaling approximately RMB 278,690,500[128]. - The distributable reserves for dividend payments calculated according to relevant regulations amount to RMB 1,511,674,690.45, with no share premium account available for capitalized dividend distribution[137]. Operational Efficiency and Innovations - The company plans to deepen technical innovation and enhance operational efficiency to strengthen its core competitiveness[36]. - The company is focused on enhancing operational efficiency through technology development and facility upgrades to counteract rising environmental costs[116]. - The company has successfully implemented digital transformation initiatives, including the application of artificial intelligence in waste incineration management, leading to improved operational efficiency[43]. - The company is addressing public concerns regarding waste incineration by adhering to environmental standards and increasing community engagement[119]. Market and Industry Trends - The demand for harmless treatment of urban waste is increasing significantly, driven by the overall goals of ecological civilization construction and carbon neutrality[45]. - The waste incineration industry is entering a stable development phase, with key tasks focusing on quality improvement and efficiency enhancement[45]. - The company is positioned to leverage the growing emphasis on ecological civilization and environmental protection in China, which prioritizes waste management as a strategic emerging industry[52]. - The company has expanded its market presence to economically developed regions such as the Yangtze River Delta and Pearl River Delta, as well as central and western regions including Anhui, Hubei, and Sichuan[53]. Risks and Challenges - The company faces risks related to the fluctuation of waste supply and calorific value, which can impact operational efficiency and profitability[120]. - The company is subject to strict environmental regulations, which may increase operational costs and affect profitability due to rising environmental investment[116]. - The company is at risk of project cost overruns and delays due to external factors such as material price fluctuations and labor disputes[121]. - The company has established measures to mitigate risks from delayed accounts receivable, emphasizing strong communication with clients to ensure timely collections[118]. Governance and Management - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange rules and has not implemented any share incentive plans for the fiscal year ending December 31, 2024[155]. - The supervisory board held eight meetings during the year to monitor the company's operations and ensure compliance with legal and regulatory requirements[149]. - The company has maintained a stable management structure with no significant changes in shareholding among directors and supervisors[160]. - The total pre-tax compensation for the board members and senior management during the reporting period amounted to CNY 1,817.96 million[161]. Research and Development - The company is investing $50 million in R&D for new technologies aimed at enhancing operational efficiency[5]. - The company’s R&D expenses were RMB 7,097,412.89, showing a slight decrease of 3.73% compared to the previous year[67]. - The company has obtained a total of 80 authorized patents, including 19 invention patents, by the end of 2024, reflecting its commitment to technological innovation[43].
绿色动力环保(01330) - 2024 - 年度业绩