CHINA RES POWER(00836)2022-09-28 08:40Financial Performance - For the six months ended June 30, 2022, the earnings per share decreased to HK 117.15 in 2021, representing a decline of approximately 22.5%[9]. - The turnover for the same period increased to HK 42,799,952,000 in 2021, reflecting a growth of about 17.5%[9]. - Profit attributable to owners of the Company was HK 5,635,468,000 in 2021, indicating a decrease of approximately 22.5%[9]. - Operating profit decreased to HK 7,979,180 in the previous year[63]. - Total comprehensive loss for the period was HK 7,363,727 in the same period last year[64]. - The Group's net profit for the first half of 2022 was approximately HK 5,635 million in the first half of 2021[122][123]. Operational Capacity - As of June 30, 2022, the total attributable operational generation capacity was 50,018 MW, an increase from 47,063 MW in 2021, representing a growth of approximately 6.3%[10]. - The total operational generation capacity of the company was 64,610 MW as of June 30, 2022, with an attributable operational generation capacity of 50,018 MW[16]. - The total gross generation volume of operating power plants was 112,470,302 MWh, slightly down from 114,442,088 MWh in 2021, a decrease of about 1.7%[9]. - The attributable operational generation capacity from wind, hydro-electric, and photovoltaic power combined was 16,302 MW, accounting for approximately 32.6% of the total capacity[3]. Renewable Energy Focus - The company has been included in the Hang Seng ESG 50 Index for three consecutive years, demonstrating its commitment to sustainable development[4]. - Attributable operational generation capacity of renewable energy increased from 7,024 MW in 1H18 to 16,302 MW in 1H22, reflecting a growth of approximately 132%[11]. - The renewable energy attributable operational generation capacity mix increased from 19.0% in 1H18 to 32.6% in 1H22, indicating a significant shift towards renewable sources[14]. - The core profit contribution from the renewable energy business amounted to HK 227,535,156,000 from HK 282.87 billion, with operational generation capacity of 64,610 MW and attributable operational generation capacity of 50,018 MW[24]. - Total equity attributable to owners of the Company was HK 88,991,769 at the end of 2021[66]. Cash Flow and Investments - Net cash flows generated from operating activities increased to HK 4,782,248, representing a growth of 71.5%[67]. - Cash capital expenditure in the first half of 2022 was approximately HK 9.47 billion allocated for wind and photovoltaic power plants[51]. - The Group's cash and cash equivalents at the end of the period were HK 4,326,081 at the end of the previous period, reflecting a substantial increase of 119.5%[68]. - The Group's repayment of bank and other borrowings was HK 14,317,136, indicating an increase of 16.7%[68]. Market Strategy and Future Outlook - The strategic focus remains on clean energy supply and integrated energy services, aligning with carbon peak and carbon neutrality goals[22]. - Future outlook indicates a commitment to further market expansion and potential acquisitions to enhance operational capabilities[17]. - The Group aims to increase its installed capacity of renewable energy by 40 GW during the 14th Five Year Plan period (2021-2025)[52]. - The company is actively pursuing new technology developments in energy efficiency and sustainability to align with market trends[17]. Accounting Policies and Changes - The Group's financial statements for the six months ended June 30, 2022, have been prepared on a historical cost basis, except for certain financial instruments measured at fair value[175]. - The Group has applied amendments to HKFRSs for the first time, effective from January 1, 2022, with no material impact on financial positions and performance[173]. - The application of the amendments to HKAS 16 resulted in a net increase in profit for the period of HK$ 146,493,000 for the six months ended June 30, 2022[192]. - The changes in accounting policy also affected the condensed consolidated statement of cash flows, although specific details were not provided in the extracted content[200].