According to the Zhitong Finance App, Xintian Green Energy (00956) announced its results for the year ending December 31, 2017. The group's revenue during the year was RMB 7.058 billion (same unit), an increase of 61.0% over the previous year. Profit before tax was $1,204 million, an increase of 61.8% over the previous year. The net profit attributable to the company's shareholders was 940 million yuan, an increase of 73.4% over the previous year. The basic profit per share is $0.2,529, and a final dividend of $0.103 per share is proposed.
In 2017, the group added 552.2 megawatts of wind power holding installed capacity, with a cumulative holding capacity of 3348.35 megawatts; added 452.30 megawatts of wind power equity installed capacity, with a cumulative equity installed capacity of 3023.90 megawatts. During the year, 483.05 megawatts of new commercial operation project capacity were added, and the total capacity transferred to commercial operation projects was 2878.35 megawatts.
According to the announcement, the sales revenue of the Group's wind power business was 3.101 billion yuan, an increase of 56.3% over the previous year. The sales revenue of the wind power business accounted for 43.9% of the Group's sales revenue. The increase in revenue during the year was mainly due to the increase in the operating installed capacity of the group's wind farms and better wind resources than last year, which led to a year-on-year increase in electricity sales and an increase in electricity sales revenue.
The gross profit margin of the wind power business was 59.6%, an increase of 1.9 percentage points over the same period last year. Mainly, the wind resources in the region where the group operates wind farms were better than last year, leading to an increase in electricity sales revenue and an increase in gross margin.
Furthermore, during the reporting period, the group's natural gas sales revenue was 3,957 billion yuan, an increase of 64.8% over the previous year. The sales revenue of the natural gas business accounted for 56.1% of the group's sales revenue. The main reason for the increase in revenue was due to the significant increase in the Group's gas sales volume during the reporting period compared to the previous year.