Chairman's Statement
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Dear shareholders,
2023 marked the beginning of the thorough implementation of the guiding principles of the 20th National Congress of the Communist Party of China (CPC). It also demonstrated economic recovery and development following three years of COVID-19 prevention and control. Despite the complex and volatile environment at home and abroad, China pursued development while safeguarding security. To facilitate economic development in the course of green and low-carbon transformation, China made active efforts to establish a clean, low-carbon, safe and efficient energy supply system, and further improved the establishment of a unified national power market regulatory system. The electricity traded in the market registered year-on-year growth. As a clean energy company, we insisted on high-quality development and put our work style focusing on “Strict Compliance, Prudent Decision-making, Detail-oriented and Fact-based Approach” into practice to assure nuclear safety, and thus maintained sound operations and further improved operating results. This is attributable to the long-term and unremitting efforts of all our employees, and the trust and full support of our shareholders, customers, partners, national ministries and local governments, and other related parties. On behalf of the Board, I would like to express my sincere gratitude to our shareholders and all those who support the development of the Company.
For 2023, the Group recorded revenue of approximately RMB82,549 million, representing a slight decrease of 0.33% as compared with 2022, and net profit attributable to shareholders of the parent company of approximately RMB10,725 million, representing an increase of 7.64% as compared with 2022 (restated). The Board recommended a dividend payment of RMB0.094 (tax inclusive) per share for the year, representing an increase of 8.05% as compared with 2022, showing a further increase in both dividend amount and dividend distribution ratio.
Taking active, safe and orderly steps to develop nuclear energy is a strategic direction specified at the 20th CPC National Congress. It is of great strategic significance for securing national energy supply, achieving the national goals of “achieving peak carbon dioxide emissions” and “carbon neutrality” (the “Dual Carbon Goals”), and constructing a new power system. In recent years, China has promulgated a range of policies to specify the goals as to nuclear power development, and approved new projects on a regular basis. In 2023, China approved five more nuclear power projects. In various provinces and regions, key tasks regarding the construction of nuclear power projects have been incorporated into the energy and power planning for 2024.
2023 was a year to continue implementing our “14th Five-Year Plan”. Based on our judgment of changes in the internal and external environment, we conducted a comprehensive evaluation on the “Nuclear Energy Industry Medium and Long-term Development Strategy and 14th Five-Year Plan” (《核能产业中长期发展战略及「十四五」规划》). We believe that we should adhere to our established development strategies and aim at our goal to become a world-class company by strengthening, optimizing and expanding our business. Focusing on advanced nuclear technology and technological innovation, and safeguarding nuclear safety, we optimized our third-generation nuclear power technology with further increased investment in technology R&D. We also continued to enhance our capacity as to sustainable development by means of commercialization of scientific and technological advances, digital transformation, and rational use and maintenance of human capital.
In 2023, we elected a new session of the Board upon approval at the general meeting. We believe that our level of corporate governance will be boosted with diverse, specialized and distinctive Board members. The new session of the Board comprises members with different professional backgrounds such as industry management, financial and accounting management, law, safety management, as well as supervision and management of state-owned enterprises, and also has two female directors, thereby attaining our goal towards Board diversity. The new session of the Audit and Risk Management Committee under the Board consists solely of independent non-executive Directors, allowing full play to the role of independent non-executive Directors in “decision-making support, supervision and balance, and professional consultation”. The independence of the committee has also been further strengthened, which will continue to promote the supervision over our internal audit and risk management.
2024 marks the 75th anniversary of the founding of the People’s Republic of China. It is also a crucial year for implementing the “14th Five-Year Plan”. Despite the current international environment is complicated and intertwined, the fundamentals of long-term positive economic growth remain unchanged in China, and the energy revolution featuring safe, low-carbon, innovative and high-quality development continues to advance. Standing at a new historical starting point, we must firmly adhere to our original aspiration and determination to develop nuclear energy and safeguard nuclear safety. Strengthening execution of strategies as always, we will harness the opportunities of the times, face up to new missions, make new accomplishments, and take the initiative to cultivate new quality productive forces for future development, in order to create value for the society, shareholders, employees and all stakeholders on an ongoing basis.
Yang Changli Chairman
March 27, 2024