Shenergy(600642)2025-04-30 02:40Financial Performance - The company's operating revenue for 2024 reached CNY 29,619,325,998.90, an increase of 1.64% compared to CNY 29,141,612,184.37 in 2023[21] - Net profit attributable to shareholders was CNY 3,944,332,272.25, reflecting a 14.04% increase from CNY 3,458,659,109.38 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 3,478,410,919.81, up 12.77% from CNY 3,084,395,912.38 in 2023[21] - The company's total assets at the end of 2024 amounted to CNY 101,665,731,911.61, a 7.91% increase from CNY 94,209,348,651.19 in 2023[22] - The net assets attributable to shareholders increased to CNY 37,766,085,640.89, representing a 12.61% rise from CNY 33,538,079,771.36 in 2023[21] - Basic earnings per share for 2024 were CNY 0.803, a 13.10% increase from CNY 0.710 in 2023[23] - The diluted earnings per share also rose to CNY 0.802, marking a 13.12% increase compared to CNY 0.709 in the previous year[23] - The cash flow from operating activities was CNY 7,164,477,967.39, a decrease of 2.46% from CNY 7,344,946,949.14 in 2023[21] - The weighted average return on equity for 2024 was 11.33%, an increase of 0.58 percentage points from 10.75% in 2023[23] - The company achieved a record revenue of 29.619 billion RMB and a net profit of 3.944 billion RMB for the fiscal year 2024, marking a historical high[34] Quarterly Performance - The first quarter revenue was 8.071 billion RMB, with a net profit attributable to shareholders of 1.159 billion RMB[25] - The second quarter revenue was 5.609 billion RMB, with a net profit attributable to shareholders of 1.032 billion RMB[25] - The third quarter revenue was 8.693 billion RMB, with a net profit attributable to shareholders of 1.090 billion RMB[25] - The fourth quarter revenue was 7.247 billion RMB, with a net profit attributable to shareholders of 664 million RMB[25] Renewable Energy Development - The company has made significant progress in large-scale and base-oriented development of renewable energy, with the Hainan CZ2 project achieving its first batch of wind turbines connected to the grid[35] - The company has secured construction indicators for 3.35 million kW of wind and solar projects in Xinjiang, with an additional 1.4 million kW wind project in the approval process[35] - The total installed capacity of renewable energy exceeded 6 million kW, with a steady increase in the proportion of installed capacity[36] - The installed capacity of renewable energy reached 6.1296 million kW, accounting for 34.1% of the company's total installed capacity[40] - The company is actively expanding its clean energy projects across multiple regions, including Anhui, Ningxia, Qinghai, Xinjiang, and Inner Mongolia[39] Business Segments Performance - The coal power business generated revenue of approximately ¥13.43 billion with a gross margin of 15.57%, reflecting a year-on-year increase of 4.89 percentage points[50] - The gas power business reported revenue of about ¥5.97 billion, achieving a gross margin of 12.98%, with a year-on-year increase of 1.18 percentage points[50] - The wind power business achieved revenue of approximately ¥2.80 billion, with a gross margin of 53.04%, marking a year-on-year increase of 3.53 percentage points[50] - The photovoltaic power business generated revenue of around ¥1.13 billion, with a gross margin of 44.86%, but experienced a year-on-year decrease of 3.05 percentage points[50] - The oil and gas pipeline transportation business reported revenue of approximately ¥3.38 billion, with a gross margin of 24.61%, reflecting a year-on-year increase of 19.87 percentage points[51] Operational Efficiency and Management - The company has implemented a digital transformation plan to enhance business development and operational efficiency[37] - The company has made significant progress in risk management and fuel management systems to mitigate operational risks[37] - Research and development expenses increased by 28.35% to CNY 21.75 million, indicating a strong focus on innovation[48] - The company is committed to improving operational efficiency by enhancing market awareness and optimizing cost management to strengthen its competitive edge[86] Governance and Compliance - The company held 1 shareholders' meeting, 7 board meetings, and 4 supervisory board meetings during the reporting period, ensuring compliance with legal and regulatory requirements[94] - The company maintains independence from its controlling shareholder, Shenneng (Group) Co., Ltd., in business, personnel, assets, institutions, and finance[95] - The company has established a comprehensive internal control system to effectively manage and mitigate various risks[94] - The independent directors are actively involved in protecting the interests of minority investors and ensuring compliance with operational regulations[94] Environmental and Social Responsibility - The company invested approximately 73.81 million yuan in environmental protection during the reporting period[135] - All power generation units achieved ultra-low emissions, with average emissions of particulate matter, sulfur dioxide, and nitrogen oxides below national standards[137][138] - The company has established an environmental self-monitoring plan, utilizing automatic monitoring systems to ensure real-time tracking of environmental indicators[141] - The company is actively participating in low-carbon and green development research, including a CO2 capture project[144] Shareholder and Equity Management - The company completed the repurchase and cancellation of 237,850 A-share restricted stocks, reducing the total share capital to 4,894,094,676 shares[127] - The total number of ordinary shareholders at the end of the reporting period was 78,746, down from 79,774 at the end of the previous month[174] - The largest shareholder, Sheneng Group Co., Ltd., holds 2,626,545,766 shares, representing 53.67% of the total shares[176] - The company has implemented an equity incentive plan, resulting in 1,474,300 restricted shares held by key individuals, with a vesting period of 36 to 48 months[179] Financing and Investment - The company issued green corporate bonds in January 2022, with a total balance of 1.2 billion RMB and an interest rate of 2.65%[188] - The total amount raised from the green bonds is 22 billion RMB, with all funds allocated for repaying existing green project debts[196][197] - The company has maintained compliance with regulations regarding the management of raised funds[200]