GDG(600098)2023-10-19 10:41Group 1: Company Growth and Investment Plans - The company aims to become a leading green low-carbon integrated smart energy enterprise during the 14th Five-Year Plan, with three major doubling tasks: total investment, installed capacity, and asset scale [1] - Investment will exceed 500 billion CNY, with energy installed capacity projected to increase from nearly 100 million kW to 300 million kW by the end of the 14th Five-Year Plan [1] - The company plans to upgrade existing coal power units and actively participate in the expansion and construction of new coal power projects [1] Group 2: Electricity Demand and Supply - As of September, the national electricity load increased by 5.6%, with the company's unit utilization rate exceeding 90% [2] - The LNG power plant plays a crucial role in peak regulation and ensuring grid safety, contributing to the national green low-carbon energy strategy [1][2] Group 3: Sales and Market Performance - The company's electricity sales subsidiary primarily operates in Guangdong, serving 300-400 customers, with a contracted electricity volume of approximately 57 billion kWh in 2022 [2] - The company has begun expanding its business outside the province this year [2] Group 4: Future Energy Strategy - The company recognizes the irreplaceable role of coal power in ensuring electricity supply and grid stability, while also investing in gas power as part of its low-carbon strategy [2] - By the end of the 14th Five-Year Plan, the installed capacity of new energy is expected to exceed 800 million kW, with green low-carbon capacity accounting for over 78% [2] Group 5: Financial Performance and Shareholder Returns - The company has implemented share buybacks, with 36.62 million shares canceled, reducing total shares from 3,544,055,525 to 3,507,435,237 [3] - The company has maintained a cash dividend policy for 24 consecutive years, with an average cash dividend ratio exceeding 40% of net profit [3][4] - In 2022, the cash dividend amounted to 701 million CNY, accounting for 51.77% of net profit attributable to shareholders [4]