QYDL(002039)2025-04-17 09:15Financial Performance - The company's operating revenue for 2024 was ¥1,932,832,751.59, a decrease of 2.89% compared to ¥1,990,382,923.61 in 2023[6]. - The net profit attributable to shareholders for 2024 was ¥218,212,297.43, down 17.59% from ¥264,777,678.08 in 2023[6]. - The cash flow from operating activities decreased by 30.39% to ¥1,257,245,813.58 in 2024, compared to ¥1,806,066,563.07 in 2023[6]. - The basic earnings per share for 2024 was ¥0.5104, reflecting a decline of 17.58% from ¥0.6193 in 2023[6]. - The total assets at the end of 2024 were ¥15,563,450,198.12, a decrease of 2.73% from ¥15,999,498,655.28 at the end of 2023[6]. - The net profit after deducting non-recurring gains and losses for 2024 was ¥236,146,213.18, down 11.53% from ¥266,929,384.10 in 2023[6]. - The total operating costs amounted to ¥904,690,027, representing a 1.72% increase compared to ¥889,359,150 in 2023[42]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a 15% year-over-year growth[90]. Dividend Distribution - The company plans to distribute a cash dividend of 0.6 yuan per 10 shares to all shareholders, based on a total of 427,558,126 shares[4]. - The total cash dividend for the year 2024 is projected to be RMB 68,409,300.16, which represents 31.35% of the net profit attributable to shareholders[116]. Operational Efficiency - The company plans to enhance its operational efficiency through remote control systems for hydropower stations, aligning with national policies on renewable energy[33]. - The average utilization hours of power plants increased to 1,733.79 hours, compared to 1,731.51 hours in the previous year[30]. - The company plans to implement new operational strategies to reduce costs by 15% over the next year[92]. Renewable Energy Focus - The company reported a significant increase in non-fossil energy generation, with a 15.4% year-on-year growth in 2024[28]. - The company is focusing on expanding its renewable energy capacity, with expectations of over 300 million kW of new renewable energy generation capacity added by 2025[67]. - The company anticipates that solar and wind power combined installed capacity will surpass that of thermal power by 2025, indicating a shift towards renewable energy sources[67]. Risk Management - The company has outlined potential risks in its future development plans, which investors should consider[4]. - The company faces risks related to water inflow fluctuations, which can significantly impact annual power generation and operational performance[70]. - The company is actively researching new energy policies to mitigate risks associated with policy uncertainties in the renewable energy sector[71]. Governance and Management - The company maintains a governance structure that complies with relevant laws and regulations, ensuring transparency and accountability[77]. - The company has established measures to enhance environmental protection and compliance with stricter regulations in the power industry[71]. - The company has implemented a value management system and has a valuation enhancement plan approved by the board[74]. - The company has a diverse board of directors, with members holding various positions and no interference from major shareholders in their appointments[81]. Shareholder Engagement - The annual shareholders' meeting had a participation rate of 44.06% on April 23, 2024, indicating active shareholder engagement[80]. - The first interim shareholders' meeting in 2024 had a participation rate of 43.08% on May 21, 2024, reflecting continued shareholder interest[80]. - The second interim shareholders' meeting in 2024 recorded a participation rate of 42.81% on September 13, 2024, showing consistent shareholder involvement[80]. Employee Management - Employee compensation increased by 8.66% to ¥177,180,606 in 2024, up from ¥163,060,306 in 2023, accounting for 18.20% of operating costs[42]. - The company has implemented a performance evaluation mechanism that combines annual and monthly indicators, promoting a "co-creation, sharing, and co-responsibility" philosophy[111]. - A total of 36 training sessions are planned for 2024, aiming for 100% completion rate to ensure comprehensive employee education[113]. Environmental Responsibility - The company has implemented measures to reduce carbon emissions, aligning with its mission of providing clean energy and contributing to environmental sustainability[124]. - The company was recognized as a best practice case for ESG sustainable development by the China Listed Companies Association in 2024[124]. - The company has undertaken six assistance projects to support rural revitalization and poverty alleviation efforts[125]. Financial Reporting and Audit - The audit opinion for the financial statements was a standard unqualified opinion, issued by Tianzhi International Accounting Firm[188]. - Management is responsible for preparing financial statements in accordance with accounting standards to ensure fair representation[195]. - The auditor evaluates the appropriateness of accounting policies and estimates made by management[199]. Related Party Transactions - The company reported a related party transaction amounting to 489.4 million yuan, representing 2.03% of similar transactions, with a market price settlement method[138]. - A related party transaction for 1,592 million yuan was noted, with a pricing increase of 5.40% compared to the previous amount of 2,300 million yuan[138]. - The company has no non-operating related party debts during the reporting period[145].