Beijing Jingneng Clean Energy (579) Q4 2024 earnings summary

Executive summary

• Revenue rose 0.57% year-over-year to RMB20,561.7 million, with profit attributable to equity holders up 6.13% to RMB3,245.0 million.

• Total assets surpassed RMB100 billion for the first time, reaching RMB101,053.4 million, an 8.0% increase year-over-year.

• Final dividend of RMB14.30 cents per share proposed, totaling approximately RMB1,179.0 million.

• Renewable energy segments (wind, photovoltaic, hydropower) achieved record operating profit, accounting for over 75% of total operating profit.

• Installed capacity of non-fossil fuel power increased 29.5% year-over-year to 12.662 million kW.

Financial highlights

• Operating profit increased 1.41% to RMB5,261.1 million; profit before tax rose 3.28% to RMB4,279.8 million.

• Net income attributable to equity holders was RMB3,245.0 million, up 6.13% year-over-year.

• Basic and diluted EPS reached RMB39.36 cents, compared to RMB37.09 cents last year.

• Finance costs decreased 7.29% to RMB1,152.7 million, with average interest rate down to 2.67%.

• Net gearing ratio slightly improved to 55.53% from 55.65% year-over-year.

Outlook and guidance

• Focus on strengthening market-driven development, leveraging AI and digitalization for operational efficiency.

• Plans to accelerate investment in strategic emerging projects, including offshore wind, hydrogen, and energy storage.

• Continued emphasis on safety, risk management, and market value enhancement through proactive investor relations and dividend planning.