CHINA RES POWER(00836)2024-04-25 08:34Financial Performance - The company's turnover for 2023 was HK103,305,097 in 2022[7]. - Profit attributable to owners of the company for 2023 was HK7,042,478 in 2022[7]. - Basic earnings per share attributable to owners of the company rose to HK1.46 in 2022, marking an increase of 56.2%[7]. - The company declared a dividend per share of HK0.586 in 2022, reflecting a substantial increase[7]. - The total assets of CR Power reached HK283,387,646 in 2022, representing a growth of 13.8%[7]. - The Group's profit for the year ended December 31, 2023, is detailed in the consolidated statement of profit or loss on page 149[92]. - The Group's distributable reserves amounted to HK27,561,957,000 in 2022[112]. - The Group's financial statements include detailed notes on borrowings and issued bonds, providing transparency on funding strategies[116][117]. Operational Capacity and Renewable Energy - As of December 31, 2023, CR Power's total attributable operational generation capacity was 59,764 MW, with renewable energy sources (wind, hydro-electric, and photovoltaic) accounting for 22,597 MW, or approximately 37.8% of the total capacity[3]. - The operational generation capacity in Central China increased to 16,635 MW in 2023, up from 15,081 MW in 2022, showing a growth of 10.3%[7]. - The renewable energy attributable operational generation capacity was 22,597 MW, indicating a significant focus on sustainable energy sources[11]. - The company is committed to increasing its renewable energy capacity, as evidenced by the substantial figures in both installed and attributable capacities across various regions[11]. - The company is expanding its distributed photovoltaic projects, with several installations across provinces, contributing to its renewable energy goals[13]. - The company reported a significant increase in new energy development, aligning with the national "double carbon" policy and energy security strategy[21]. - The company achieved a year-on-year reduction of 2.5% in comprehensive energy consumption per ten thousand yuan of output value[38]. Corporate Governance and Leadership - Mr. Song Kui was appointed as Executive Director and Vice Chairman in May 2023, bringing extensive experience from Chongqing Energy Investment Group[51]. - Mr. Zhou Bo joined as a Non-executive Director in October 2023, with over 30 years of experience in finance and corporate management[53]. - The company is focusing on expanding its business units and enhancing corporate governance through the appointment of experienced directors[51][53][55][57][59]. - The company emphasizes the importance of independent directors in its governance structure to ensure accountability and transparency[66]. - The board includes members with experience in public service and advisory roles, which may benefit the company's strategic initiatives[64]. Strategic Initiatives and Future Growth - The company aims to become a world-class clean energy supplier and integrated energy service provider, focusing on enhancing core competitiveness and energy technology innovation[25]. - Future growth strategies include enhancing operational efficiency and increasing the share of renewable energy in the overall energy mix[14][15]. - The company plans to enhance investments in strategic emerging industries focused on clean and efficient power generation, integrated energy services, and energy technology innovation[44]. - The company aims to ensure that the terms of financial assistance are no less favorable than those with independent third parties[179]. Connected Transactions and Financial Agreements - The Group conducted certain connected transactions with connected persons during the year, as required under the Listing Rules[159]. - The annual caps for the Integrated Energy Projects have been revised to RMB 300 million for the financial year ending December 31, 2023, and RMB 400 million for the financial year ending December 31, 2024[168]. - The Company continues to engage in connected transactions with CR entities, reflecting ongoing collaboration in various sectors[176]. - The annual caps for the Financial Assistance Framework Agreement for the three financial years ending December 31, 2025, are RMB900 million, RMB1,900 million, and RMB2,560 million, respectively[182]. Social Responsibility and Environmental Commitment - The company emphasizes the importance of corporate social responsibility, actively participating in disaster relief, student aid, and poverty alleviation initiatives[39]. - The Group is committed to environmental sustainability, focusing on resource conservation and promoting clean energy projects[98]. - The company is committed to green development and has integrated environmental protection concepts into its entire business lifecycle[38]. Market Recognition and Index Inclusion - CR Power has been included in the Hang Seng ESG 50 Index for four consecutive years, highlighting its commitment to sustainable development[4]. - The company was also selected as a constituent of the Hang Seng Index on June 5, 2023, reflecting market recognition of its strategic transformation[4].