Summary by Futu AI
HUA RUN POWER (THE “COMPANY”) ANNOUNCED ITS ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023 WITH A NET PROFIT OF HK$110.03 MILLION, AN INCREASE OF 56.2% COMPARED TO 2022. Basic earnings per share were HK$2.29, up 56.2% year-on-year. The core profit of the renewable energy business contributed HK$97.6 million and the loss of the pyroelectric business contributed HK$36.1 billion. The Board of Directors proposes a final dividend of HK$0.587 per share, with a total annual dividend of HK$1.415 per share, with a dividend rate of 62%. In 2023, the Group achieved a renewable energy development construction target of 19,500 MW and actively promoted wind and photovoltaic projects with a target of more than 50% of renewable energy installations by the end of 2025. In 2024, the Group will continue to accelerate the development of renewable energy and expects to add 10,000 megawatts of installed capacity for wind and photovoltaic projects.