May 10thDragon'slairarcadeChina Power Construction held a 2023 annual performance and cash dividend presentation. Chairman Ding Yanzhang, independent director Xu Donggen, chief accountant Yang Liang, and heads of the company's major business units and subsidiaries were all present. In nearly two hours of interactive exchange, questions were answered around dividend policy, new energy business, market capitalization management, digital transformation and so on.
The tone of the meeting was closely linked to the words "steady growth".
Ding Yanzhang said that in 2023, the company's main business indicators increased "quantity" and "quality", and its comprehensive strength and professional ability continued to improve, making it firmly at the top of the ENR global design enterprises and global power engineering contractors. For investors, Ding Yanzhang stressed that respecting and caring for investors has always been the primary task and basic work of China Power Construction in the capital market, which will enhance investor returns and boost investor confidence with real gold and silver.
Persist in making progress in a stable way to highlight the effectiveness of high-quality development
Referring to the answers handed over by China Power Construction in the past year, Ding Yanzhang mentionedDragon'slairarcadeA few key words: facing difficulties, forge ahead, it is not easy. "2023 is a very unusual and critical year in the process of company reform and development."
The company adheres to the sound business philosophy and makes steady progress in its business performance. In 2023, China Power Construction completed 11428 of the newly signed contract.Dragon'slairarcade.44 billion yuan and operating income of 6084Dragon'slairarcade3.9 billion yuan, up 13.24% and 6.44% respectively over the same period last year; the total profit realized was 20.916 billion yuan, up 8.67% over the same period last year; and the net profit returned to the home was 12.988 billion yuan, up 13.58% over the same period last year.
The company pays close attention to the national strategy and the 14th five-year Plan, and accelerates the strategic transformation. Promote the business structure to focus on "water, energy, city and quantity", tilt the investment structure to strategic emerging industries such as new energy, water and other industries related to the national economy and people's livelihood, and change the industrial structure to "project contracting + integrated service of the whole industrial chain". Profound changes have taken place in the quality, efficiency and driving force of the company's management and development, and the strategic transformation is beginning to show results.
The company's scientific and technological innovation continues to create high-quality development, new kinetic energy and new advantages. In 2023, China Power Construction invested about 23.2 billion yuan in science and technology research and development, an increase of 11.54 percent over the same period last year, accounting for 3.82 percent of operating revenue. New progress has been made in tackling major key problems in the fields of far-reaching sea wind power, solar energy and new energy storage, and breakthroughs have been made in the development of the first set of major equipment in the field of new energy.
Ding Yanzhang said that the compound growth rate of the company's newly signed contracts, operating income and other major operating indicators in the first half of the 14th five-year Plan are higher than the planned growth rate, and the contract stock is abundant, which can ensure the company's safe and sustainable business development. In 2024, we will strive to achieve an 11% year-on-year increase in newly signed contracts and a 6% year-on-year increase in operating revenue, and strive to achieve all the targets for the whole year.
Share the development dividend and boost investor confidence with real gold and silver
Yang Liang, chief accountant of China Power Construction, also introduced the cash dividend for 2023: he plans to distribute a cash dividend of 1.3649 yuan (including tax) to all shareholders for every 10 shares, with a total cash dividend of 2.351 billion yuan. It accounts for 20% of the net profit of the current year's consolidated accounting statements belonging to the common shareholders of listed companies, and the cash dividend ratio is the same as that of the previous year.
The adjustment and implementation of the dividend policy is undoubtedly a major event that investors pay most attention to at present. In this regard, Ding Yanzhang and Yang Liang expressed their position many times in interactive exchanges that they would continue to enhance the stability, sustainability and predictability of the company's cash dividends, and combined with the actual situation of enterprises, to explore the feasible path of multiple dividends in a year, pre-dividends, and dividends before the Spring Festival, so as to protect the rights and interests of shareholders.
Ding Yanzhang said that China Power Construction has always attached great importance to the protection of investors' rights and interests, adhering to the concept of "investor-oriented" and "boosting investor confidence with real money and silver". From 2011 to 2022, China Power Construction accumulated 12 dividends and accumulated cash dividends of 14.771 billion yuan (excluding repurchase amount of 788 million yuan). In addition, at the end of 2023, the company's controlling shareholder, Power Construction Group, increased its holdings by 213 million shares, or 1.23%, with an increase of about 1.122 billion yuan, effectively maintaining the stability of the company's stock price.
Yang Liang said that in recent years, SASAC's assessment system for core central enterprises has been continuously enriched, from the "two benefits and one rate" proposed in 2019, the "two benefits and three rates" in 2020, to the "two benefits and four rates" proposed in 2021 and the "one interest and five rates" proposed in 2022. Now it is studying to include market value management into the assessment system, and the assessment indicators of central enterprises are gradually refined. The follow-up company will strictly implement the relevant requirements of SASAC, comprehensively implement policies, and promote market value management as a whole.
Accelerate the green transformation and show the efficiency-creating ability of new energy business.
In recent years, China Power Construction has further promoted the strategic transformation and upgrading with new energy as the core, actively responding to the national "double carbon" goal. In 2023, the contract amount of newly signed solar power generation business and pumped storage business increased greatly compared with the same period last year, while accelerating the promotion of clean energy as the core of power investment and operation business. It can be said that new energy-related business has become an important engine for the company's sustained growth.
At this performance presentation meeting, according to Yang Liang, the company obtained a new energy construction target of more than 22 million kilowatts in 2023, and the acquisition of new energy resources reached a record high. by the end of December 2023, the company's installed capacity of new energy connected to the grid reached 16.14 million kilowatts, with an increase of 5.82 million kilowatts over the previous year, and the holding installed increased by 56%. In 2023, the revenue of the company's new energy sector increased by 11% compared with the same period last year, and profits increased by 34%. The effect of transformation and upgrading of companies driven by new energy investment has been further revealed.
Yang Liang said that the new energy installation plan of China Electric Power Construction has not been adjusted in the 14th five-year Plan, and is promoting related work in accordance with the original installation schedule, and is also further promoting the adjustment, transformation and upgrading of the company's business structure, and firmly implement the national "double carbon" strategy.
At the same time, Li Yuejun, chairman of the Power Construction New Energy Company, believes that on the whole, whether in the later period of the 14th five-year Plan or for a longer period in the future, under the guidance of the goal of "double carbon" and the strong support of China's new energy production capacity, new energy is still in a period of rapid development. (Wen / Li National Day holiday