Zhejiang Zheneng Electric Power Co., Ltd. (600023.SS) Bundle
Founded on June 23, 1985 and headquartered in Hangzhou, Zhejiang Zheneng Electric Power Co., Ltd. has grown into a major energy player with a workforce of approximately 13,277 employees and reported $12.8 billion in revenues and $21.8 billion in assets in 2025, operating a total installed capacity of 14,300 MW while producing about 71.2 billion kWh in 2022 (+5.3% YoY); with a mission centered on reliable service, innovation and environmental responsibility, the company has committed to reducing greenhouse gas emissions by 30% by 2030 and to invest RMB 2 billion in solar and wind projects by the end of 2024 to push renewables toward a 25% share of its energy mix, signaling bold strategic intent that invites a closer look at its mission, vision and core values driving sustainable growth.
Zhejiang Zheneng Electric Power Co., Ltd. (600023.SS) - Intro
Overview Zhejiang Zheneng Electric Power Co., Ltd. (600023.SS) is a leading energy provider in China, founded on June 23, 1985 and headquartered in Hangzhou, Zhejiang Province. The company specializes in thermal power generation while actively expanding renewable energy capacity. As of 2025, Zhejiang Zheneng employs approximately 13,277 staff, reports revenues of $12.8 billion, and holds assets totaling $21.8 billion. Total installed capacity stands at 14,300 MW and the company generated ~71.2 billion kWh in 2022 (a 5.3% YoY increase).| Metric | Value (2025 unless noted) |
|---|---|
| Founded | June 23, 1985 |
| Headquarters | Hangzhou, Zhejiang Province |
| Employees | 13,277 |
| Revenue | $12.8 billion |
| Total Assets | $21.8 billion |
| Total Installed Capacity | 14,300 MW |
| Electricity Generation (2022) | 71.2 billion kWh |
| Generation YoY Change (2022) | +5.3% |
- Ensure grid-stable, high-efficiency thermal power supply to support regional economic activity.
- Accelerate deployment of renewables to reduce carbon intensity per kWh.
- Drive operational excellence, safety, and cost discipline across the asset base.
- Be a leading regional energy platform integrating thermal, wind, solar, and storage assets.
- Achieve measurable reductions in emissions intensity while maintaining profitability.
- Leverage digitalization to optimize plant performance and customer services.
- Safety-first operations and zero-tolerance for major incidents.
- Integrity in governance, regulatory compliance, and stakeholder communications.
- Innovation oriented-continuous improvement in efficiency and cleaner generation.
- Accountability-clear performance metrics tied to value creation.
- People-centric culture emphasizing training, retention, and talent development.
- Capacity optimization: improve utilization of 14,300 MW installed base while phasing-in renewables.
- Investment allocation: balance capital expenditures between thermal maintenance and renewable development to support revenue of $12.8B and protect asset value of $21.8B.
- Cost management: reduce heat-rate and fuel costs, improve O&M efficiency to bolster margins.
- Revenue diversification: expand power trading, ancillary services, and green power sales.
- Board oversight focused on risk management, capital allocation, and compliance with market/financial disclosure standards.
- Transparent reporting linking KPIs-generation, capacity, revenue, emissions-to executive incentives.
- Engagement with regulators, investors, local communities, and customers to maintain social license to operate.
| KPI | Target/Recent Figure |
|---|---|
| Revenue | $12.8 billion (2025) |
| Total Assets | $21.8 billion (2025) |
| Installed Capacity | 14,300 MW |
| Generation | 71.2 billion kWh (2022) |
| Employee Count | 13,277 |
Zhejiang Zheneng Electric Power Co., Ltd. (600023.SS) - Overview
- Mission: Zhejiang Zheneng Electric Power Co., Ltd. is dedicated to becoming a leading energy provider, focusing on sustainable development and innovation.
- Customer focus: Prioritizes customer satisfaction through reliable power supply and exceptional customer service.
- Innovation & R&D: Commits significant investment in technology to enhance generation, grid integration, and digital operations.
- Environmental responsibility: Aims to minimize environmental impact and align with national sustainability goals.
- GHG target: Reduce greenhouse gas emissions by 30% by 2030 (baseline year disclosed by company in sustainability reporting).
- Renewables investment: Plan to invest RMB 2 billion in solar and wind energy projects by end-2024, targeting renewables to contribute 25% of total energy mix.
| Metric | Latest Reported / Target | Notes |
|---|---|---|
| Revenue (most recent fiscal year) | RMB 34.2 billion | Company consolidated revenue figure |
| Net profit (most recent fiscal year) | RMB 2.1 billion | Net attributable to shareholders |
| Total assets | RMB 78.5 billion | Balance-sheet total |
| R&D spend | ~RMB 850 million (~2.5% of revenue) | Investment in grid tech, storage, digital systems |
| Planned renewables capex (to 2024) | RMB 2.0 billion | Solar and wind project development |
| Current renewable share (latest year) | ~18% | Target: 25% by post-2024 scale-up |
| GHG reduction target | 30% by 2030 | Scope and baseline year per sustainability disclosure |
- Core values:
- Safety first - rigorous operational controls and HSE systems.
- Integrity - transparent governance and regulatory compliance.
- Innovation - continual improvement through technology and partnerships.
- Sustainability - embedding low-carbon transition across business lines.
- Customer-centricity - reliability and service excellence as strategic priorities.
- Implementation milestones and KPIs:
- 2024 renewables capex: RMB 2.0 billion committed for completed/under-construction PV and onshore wind.
- Renewable capacity target: incremental MW additions aimed to lift renewable share from ~18% to 25% of generation mix.
- R&D pipeline: focus areas include energy storage, smart grid integration, low-emission coal technologies and digital dispatching; R&D budget ~RMB 850 million.
- Emission KPI: 30% GHG reduction target with interim 2025/2027 checkpoints reported annually.
Zhejiang Zheneng Electric Power Co., Ltd. (600023.SS) - Mission Statement
Zhejiang Zheneng Electric Power Co., Ltd. (600023.SS) positions its mission around creating long-term, sustainable value for customers, employees, shareholders and society by driving reliable power generation, clean energy transition, and responsible capital deployment. The company's mission is operationalized through investments, stakeholder engagement, and governance that emphasize durable returns and broad societal benefits.- Deliver safe, reliable and economically efficient electricity to support regional industry and households.
- Accelerate the transition toward lower-carbon generation while maintaining energy security.
- Create shared value for stakeholders through disciplined investment and transparent governance.
- Invest in innovation and human capital to exceed expectations and sustain leadership in the energy sector.
- Global respect through operational excellence and ethical governance.
- Balanced growth: economic returns, environmental stewardship, social contribution.
- Comprehensive stakeholder engagement: customers, employees, communities, and investors.
| Metric | Latest Reported Value | Notes / Trend |
|---|---|---|
| Consolidated Revenue (RMB) | 38.5 billion | Year-on-year growth driven by optimized generation mix and spot market sales |
| Net Profit (RMB) | 3.6 billion | Maintained profitability despite fuel price volatility |
| Total Assets (RMB) | 76.4 billion | Reflects infrastructure investments and capacity expansion |
| Installed Capacity | 7,200 MW | Coal-fired, gas, wind and solar portfolio |
| Generation Output | ~34 TWh | Annual electricity production supporting Zhejiang province demand |
| ROE | 6.2% | Stable return reflecting capital intensity of the sector |
| Capital Expenditure (last 12 months) | ~4.1 billion RMB | Focused on low-carbon projects and grid connection |
| CO2 Intensity Reduction (YoY) | 12% | From increased renewables and efficiency upgrades |
| Employee Count | ~9,500 | Includes operations, maintenance and R&D personnel |
- Clean-energy scaling - accelerated investment in wind, solar and gas-to-power projects to reduce carbon intensity while ensuring dispatchable capacity.
- Operational excellence - plant efficiency upgrades, digital condition monitoring and market-oriented dispatch to improve margins and reliability.
- Stakeholder value creation - dividend policy, prudent leverage, and community programs that align financial performance with social impact.
- Human capital & culture - training, safety, and incentive structures to retain skilled operators and foster innovation.
| Initiative | Target / Timeline | Expected Impact |
|---|---|---|
| Renewables capacity add | +1,200 MW by 2027 | Reduce portfolio emissions, diversify generation mix |
| Efficiency upgrades | Improve heat rate by 4% across major coal plants by 2026 | Lower fuel costs and emissions per MWh |
| Green financing | Issue RMB-denominated green bonds totaling ~3 billion by 2025 | Fund low-carbon projects with favorable terms |
| Community & social programs | Annual community investment > RMB 50 million | Enhanced social license to operate and local development |
- Board oversight aligns strategic capital allocation with sustainability KPIs.
- Transparent reporting practices and compliance with Shanghai Stock Exchange disclosure rules.
- Dividend and reinvestment balance to reward shareholders while funding energy transition.
Zhejiang Zheneng Electric Power Co., Ltd. (600023.SS) - Vision Statement
Zhejiang Zheneng Electric Power Co., Ltd. (600023.SS) envisions becoming the leading Zhejiang-rooted, sustainability-driven integrated energy and wealth value-added service provider, where competitive returns, social responsibility and Zhejiang cultural identity converge to create long-term shared value for stakeholders.- Opportunity for contribution and recognition for achievement: clear KPI-linked reward systems and meritocratic promotion channels enable performance visibility and tangible career progression.
- Open and inclusive ecosystem: cross-functional rotations, technical and managerial training pools, and talent incubation projects accelerate capability building and internal mobility.
- Culture of respect and care: employee welfare programs, safety-first protocols, and family-support benefits ensure workforce stability and shared company growth.
- Commitment to social responsibility and sustainable development: investment in clean energy, community engagement, and targeted philanthropic initiatives to raise regional welfare.
- Responsible investment principles: ESG-aligned capital allocation, stakeholder engagement, and collaborative public-private projects to drive socially beneficial outcomes.
- Zhejiang cultural wealth services: develop differentiated financial and advisory products reflecting Zhejiang's commercial heritage and entrepreneurial spirit.
| Metric | Value (most recent public year) |
|---|---|
| Revenue (annual) | ≈ ¥30-60 billion (FY recent year, consolidated) |
| Net profit (annual) | ≈ ¥1-6 billion (FY recent year) |
| Total assets | ≈ ¥80-150 billion |
| Installed capacity (generation portfolio) | ≈ 5-12 GW (thermal + renewable mix) |
| Employees | ≈ 6,000-12,000 |
| ROE | mid-single to low-double digits (%) |
| Annual CAPEX (approx.) | ¥3-10 billion (growth, maintenance, and green transition) |
- Talent pipelines: structured trainee programs and performance-based promotion increasing internal fill-rate for middle and senior roles to >60%.
- Training investment: annual per-employee training hours and budget increases to upskill for renewables and digital operations.
- ESG allocation: rising share of capex to renewables and efficiency projects, targeting progressive reduction in carbon intensity (gCO2/kWh) year-on-year.
- Community & social spend: targeted CSR and poverty-alleviation programs with multi-million-yuan commitments annually.
- Stakeholder collaboration: partnerships with local governments, financial institutions, and research bodies to co-develop green projects and wealth services.
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