Recently, Power Construction Corporation of China (PowerChina) released its 2023 annual report, showcasing the company's strong performance and sustained growth momentum. According to the report, PowerChina achieved operating revenue of 608.439 billion yuan in 2023, a year-on-year increase of 6.44%; net profit reached 12.988 billion yuan, a year-on-year increase of 13.58%. This impressive achievement is the result of PowerChina's continuous efforts in business transformation and upgrading, as well as digital transformation.

More cases related to sand and aggregate equipment

In the sand and aggregate business, PowerChina also made significant progress. As of the end of the reporting period, PowerChina's green sand and aggregate resource reserves reached 8.934 billion tons, with a designed capacity of 505 million tons/year and an operational capacity of 132 million tons/year. Annual sales in 2023 were approximately 90 million tons, generating operating revenue of 4.63 billion yuan, providing strong support for the company's steady development.

Key operating indicators reach new highs, business scale steadily expands

PowerChina's business scale steadily expanded in 2023, with key operating indicators reaching new highs. The core business of engineering contracting and survey and design maintained steady growth, achieving operating revenue of 550.56 billion yuan, a year-on-year increase of 9.16%, accounting for 90.84% of the main business revenue. This growth is mainly attributed to the company's efforts in consolidating its traditional business advantages in water conservancy and hydropower while actively expanding into new energy businesses such as solar power generation engineering contracting, promoting a green and low-carbon business structure.

In the power investment and operation sector, PowerChina highlighted its new energy business, accelerating the development of power investment and operation in clean energy such as wind power, solar photovoltaic power generation, and hydropower. Annual operating revenue reached 9.509 billion yuan, a year-on-year increase of 10.04%. As of the end of 2023, clean energy accounted for 84.6% of the company's controlled grid-connected installed capacity, laying a solid foundation for the company's green and low-carbon development.

Digital transformation enters a new stage, innovation drives development

In terms of digital transformation, PowerChina also made significant progress. The company successively released implementation plans for future industries and construction plans for smart mining technology systems, actively promoting the construction of innovation hubs and the implementation of the "Sailing Plan" tasks, accelerating the improvement of data utilization capabilities. China Power Construction's big data system implementation plan has been fully implemented.  Its digital transformation case was selected for the first issue of the State-owned Assets Supervision and Administration Commission's (SASAC) "Science and Technology Innovation Dynamics: Special Issue on Digital Transformation of State-owned Enterprises," and the company shared its experiences at the conference as a representative of central state-owned enterprises.

China Power Construction, guided by value and centered on data, continuously deepens the integration of its "water, energy, and urban" businesses with digital technology, innovating its layout in the digital economy. The total value of newly signed purely digital contracts reached 9.9 billion yuan, driving over 40 billion yuan in new market project contracts throughout the year, achieving new growth in the digital industry.

Looking ahead to 2024, the target for new contracts is 1.27 trillion yuan.

For the future, China Power Construction has formulated an ambitious development plan. The company plans to achieve 1.27 trillion yuan (1,268 billion yuan) in new contracts and 646 billion yuan in operating revenue in 2024. To achieve this goal, China Power Construction has allocated a total investment plan of 138.9 billion yuan, of which the energy and power sector investment plan is 86.5 billion yuan, and the new energy project investment plan is as high as 81.1 billion yuan.

As a leading enterprise in the aggregate industry, Shibang Group pays close attention to China Power Construction's development in the aggregate business. Shibang Group believes that China Power Construction's layout and investment in the green aggregate industry will strongly promote the green transformation and high-quality development of the aggregate industry. At the same time, Shibang Group will also strengthen cooperation with China Power Construction and other partners to jointly promote the transformation, upgrading, and sustainable development of the aggregate industry.