Shanghai Electric Power (600021.SH) announced 2024 annual results, with net profit of 2,046 billion yuan, an increase of 28.46% over the previous year

According to the Zhitong Finance App, Shanghai Electric Power (600021.SH) disclosed its 2024 annual report. During the reporting period, the company achieved revenue of 42,734 billion yuan, up 0.78% year on year; net profit to mother was 2,046 billion yuan, up 28.46% year on year; after deducting non-net profit of 1,895 billion yuan, up 26.57% year on year; basic earnings per share were 0.6172 yuan. It is proposed to distribute a cash dividend of $0.28 (tax included) per share.

By the end of 2024, the company controlled an installed capacity of 24.6531 million kilowatts, up 9.8% year on year, and clean energy accounted for 60.05%, up 3.93 percentage points year on year. In 2024, the company approved (registered) 7.889 million kilowatts, the project under construction at the end of the period was 8.143 million kilowatts, and an additional production capacity of 2,225,500 kilowatts.

By the end of 2024, with an installed capacity of 2,0553,900 kilowatts and an installed capacity of 430,900 kilowatts under construction, a new production capacity of 246,200 kilowatts was added in that year. The new national project, the Romanian Prime 129,000 kilowatt PV project, was delivered and started. It became the first state-owned enterprise investment project to pass the FDI review in Romania, and won the bid for Romania's renewable CFD at the next highest price. The Hunutlu Power Plant has been using more than 8,000 hours for two consecutive years, and has received honors such as China Electric Power Quality Project, Advanced Collective of Central Enterprises, and the Belt and Road International Cooperation Award.