In 2024, facing a complex external environment and the arduous tasks of reform, development, and stability, the management of the Group, under the strong leadership of the Board of Directors, led all the staff to conscientiously implement the spirit of our work conferences at the beginning and in the middle of the year, deeply implemented the development strategy of “one goal, three roles, and six responsibilities” and “41663” overall working guidelines of CHN Energy, actively practiced the “12556” work ideas, and comprehensively built a world-class leading enterprise in new energy technology, achieving new successes in major indicators.
The scale development remained at the forefront. We resolutely implemented the task of doubling installed capacity during the “14th Five-Year Plan” period, and improved the development strategy of “one province, one policy”. Throughout the year, we newly added 14.72 GW of development indicators as well as 7.48 GW of new energy installed capacity, achieving a record high in scale of production. Breakthroughs were achieved in key projects: the first batch of base projects under the National Energy Administration cumulatively reached full capacity production of 1.51 GW, while the third batch achieved cumulative on-grid power generation of 2.00 GW and commenced construction of 1.00 GW; the power supply plan for the Badain Jaran Base in Gansu was approved by the National Energy Administration, and the 4.00 GW desertification prevention and control project in Chifeng was successfully secured. Remarkable achievements were made in offshore resource acquisition: the Jiangjiasha 2.46 GW offshore photovoltaic project in Jiangsu, the largest of its kind in China was filed for record, and we successfully won the bid for the 0.70 GW offshore wind power project in Fuding, Fujian. Overseas markets were prudently expanded, with 0.88 GW projects in South Africa, Cambodia, and other regions being selected. We actively promoted the programme of “replacing small-capacity units with large-capacity units”, with capacity expansion and technical reform projects totaling 0.54 GW such as Rudong Phase II in Jiangsu and Nanri Island Phase III in Fujian receiving approval.
Production and operation showed steady improvement. We deepened the reform of operation and inspection model, optimized the forewarning model, and focused on tackling centralized defect management, resulting in 60% in the number of our units which operated for as long as 365 days. For the whole year, the accumulated power generation amounted to 75.546 billion KWh, and the average utilisation hours of wind power was 2,190 hours, which is 63 hours higher than the industry average. For the “one profit and five rates” indicators, we strengthened budget process control, deeply implemented net profit enhancement plans, and coordinated to optimize market transaction management strategies. Throughout the year, profit of the Group amounted to RMB8.368 billion, representing a year-on-year increase of 20.2%; earnings per share amounted to RMB76.30 cents, and total assets as at the end of the year amounted to RMB257.368 billion.
Digital intelligence innovation continued to empower. We implemented the “164” digital transformation and upgrading plan, launched the “Longteng No. 1” new energy intelligent management platform, released the industry’s first comprehensive meteorological big data pool, and digital achievement was selected as one of the top ten typical cases of the Ministry of Industry and Information Technology. We held the first “New Energy Intelligent Algorithm Competition”, integrating and absorbing 32 excellent competition models, and steadily improving the accuracy of fault warning. We continuously improved the “1+1+4+N” scientific and technological innovation system. The world’s first floating wind fishing integration technology has created a new quality productivity model of “green energy + blue granary”. Five scientific and technological achievements, including BIM+GIS localization system, have reached the international leading level. We have cumulatively released 114 national, industry, and group standards, continuously expanding its influence in the industry.
We deepened reforms to stimulate vitality. We launched the enhancement initiative of “Five capabilities”, initially forming a GREAT excellence capability model with distinctive new energy features. We built a specialized talent training system for skills and technology, continuously enhancing the training brands such as “Craftsman Training Camp” and “Famous Teacher Lecture Hall” as well as “three teams”. Reserves achieved simultaneous increases in quantity and quality. We systematically refined the assessment and incentive mechanism, emphasizing revenue growth sharing and encouraging value creation, thus fostering a more robust atmosphere for cadres and employees to be dedicated, enterprising and responsible. We continuously improved the quality of the listed company, engaged in multi-channel and high-frequency investor communications, efficiently promoted the injection of some new energy assets from CHN Energy, supported the release of the first domestic sustainability report guidelines for the new energy industry, and was honored with 12 awards including the CCTV ESG Pioneer 100.
Our achievements in 2024 were hard won, which were inseparable from the united efforts and selfless dedication of all our staff, as well as the consistent care and support from all walks of life and the investors. I, on behalf of the management of the Group, hereby extend our heartfelt gratitude to all of you!
2025 marked the final year for completing the “14th Five-Year Plan” and the key start to develop the “15th Five-Year Plan”. The Group will continue to deepen the construction of the “Five capabilities”, enhance the level of intrinsic safety, accelerate the pace of scale development, improve the quality and efficiency of project construction, increase the benefits of production and operation, boost technological innovation capabilities, advance the effectiveness of deepening reforms, and strengthen the leading role of party building, aiming to comprehensively build a world-class leading enterprise in new energy technology and rewarding the investors with excellent performance!