Core Viewpoint - Dalian Thermal Power (600719) is expected to report a net loss for 2025, with management changes pending shareholder approval, and is seeking new growth points after the termination of a major asset restructuring, facing operational pressure from industry policies and high debt levels [1] Group 1: Performance and Operating Conditions - The company announced a projected net loss for 2025 ranging from -92 million to -112 million yuan, indicating a year-on-year reduction in losses [2] - The official annual report's disclosure time and details will be crucial for future assessments [2] Group 2: Management Changes - In December 2025, the former general manager Zhang Yongjun resigned, and the board nominated Shen Jun as a candidate for a non-independent director, pending approval from the shareholder meeting [3] - Market attention is focused on whether Shen Jun can drive operational improvements [3] Group 3: Strategic Initiatives - Following the termination of the major asset restructuring, the company plans to leverage the Dalian state-owned asset platform to integrate resources, optimize its business structure, and seek new profit growth points [4] - Future focus will be on the company's ability to enhance profitability through clean energy transformation and cost control measures [4] Group 4: Industry Policies and Environment - The National Development and Reform Commission's coal power upgrade plan requires companies to undertake technological upgrades, while the company faces short-term operational pressures due to high coal prices, weak thermal demand, and high debt ratios [5] - The effectiveness of the company's response measures will be worth monitoring [5]

Core Viewpoint - Dalian Thermal Power reported that as of February 10, 2026, the total number of shareholders is over 29,000 [2] Company Summary - The company has engaged with investors through an interactive platform, providing transparency regarding its shareholder base [2] - The total number of shareholders indicates a potentially broad interest in the company's stock, which may reflect investor confidence [2]

Group 1 - The company Dalian Thermal Power (600719) reported that as of January 31, 2026, the total number of shareholders is approximately 30,000 [1]

Group 1 - The core point of the article is that Dalian Thermal Power (600719) has reported its total number of shareholders to be less than 32,000 as of January 20, 2026 [1]

Core Viewpoint - Dalian Thermal Power (600719) is expected to report a net loss of between -0.92 billion to -1.12 billion yuan for the fiscal year 2025, despite a decrease in operating costs due to lower coal prices [1] Group 1: Financial Performance - The company reported a net loss of -1.46 billion yuan for the same period last year, indicating a slight improvement in performance year-over-year [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be between -0.98 billion to -1.18 billion yuan for 2025 [1] Group 2: Business Operations - Dalian Thermal Power's main business includes combined heat and power generation and centralized heating, with key products being electricity and heat [1] - As of December 2024, the company has a combined heat and power installed capacity of 100,000 kilowatts, an annual electricity output of 14,679 million kilowatt-hours, and a heating area of 18.4462 million square meters [1] Group 3: Strategic Initiatives - The company aims to optimize its energy structure and increase the proportion of clean energy heating to align with national policies on clean heating and carbon neutrality [2] - Following the termination of a major asset sale and acquisition plan, the company plans to explore resource integration through the Dalian State-owned Assets platform to enhance its future development [3] - Dalian Thermal Power is focusing on improving operational management, optimizing production processes, and enhancing procurement management to reduce production costs and seek new profit growth points [3]

Core Viewpoint - Dalian Thermal Power (600719.SH) expects a net loss attributable to shareholders of the listed company in 2025, estimated between -0.92 billion to -1.12 billion yuan [1] Financial Performance - Despite a decrease in coal prices leading to a year-on-year reduction in operating costs, the company still anticipates losses due to increased asset impairment provisions [1] - The impairment provision for the remaining demolition compensation of Donghai Power Plant has been raised from 6% to 20%, significantly impacting financial results [1]

Core Viewpoint - Dalian Thermal Power (600719.SH) expects a net profit attributable to shareholders of the listed company to be between -92 million and -112 million yuan for the fiscal year 2025, indicating a continued loss despite lower coal prices reducing operating costs [1] Financial Performance - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, to range from -98 million to -118 million yuan for 2025 [1] - The decrease in coal prices has led to a year-on-year decline in operating costs, yet the company still projects a loss [1] Asset Impairment - The company has increased the asset impairment provision for the remaining demolition compensation of the Donghai Power Plant from 6% to 20%, amounting to 349.5674 million yuan [1]

Core Viewpoint - Dalian Thermal Power (600719) expects a net profit loss attributable to shareholders of the listed company between 92 million and 112 million yuan for the year 2025, compared to a loss of 146 million yuan in the same period last year [2] Group 1: Financial Performance - The company anticipates a net profit loss of 0.92 billion to 1.12 billion yuan for 2025 [2] - The previous year's loss was recorded at 1.46 billion yuan [2] - Despite a decrease in operating costs due to lower coal prices, the company still faces losses [2] Group 2: Asset Impairment - The company has increased the asset impairment provision for the remaining demolition compensation of the Donghai Power Plant from 6% to 20%, amounting to 350 million yuan [2]

Core Viewpoint - Dalian Thermal Power (600719) expects a net profit loss attributable to shareholders of the listed company between 92 million and 112 million yuan for the fiscal year 2025, compared to a loss of 146 million yuan in the same period last year [1] Financial Performance - The company anticipates a reduction in operating costs due to lower coal prices, which have contributed to a year-on-year decrease in operating costs [1] - Despite the decrease in costs, the company still projects a loss due to increased asset impairment provisions related to the remaining demolition compensation of 350 million yuan for the Donghai Power Plant, with the impairment ratio raised from 6% to 20% [1]

Financial Performance Forecast - The company expects a net profit attributable to shareholders of between -0.92 billion and -1.12 billion for the year 2025[5]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be between -0.98 billion and -1.18 billion[5]. - The previous year's net profit attributable to shareholders was -1.46 billion, and the net profit excluding non-recurring gains and losses was -1.48 billion[4]. - The estimated loss per share for the current period is -0.361 yuan[6]. Reasons for Expected Loss - The primary reason for the expected loss is an increase in the asset impairment provision for the remaining demolition compensation of the Donghai Power Plant from 6% to 20%, amounting to 349.57 million yuan[5][7]. - Despite a decrease in coal prices leading to a reduction in operating costs, the company still anticipates a loss due to the increased impairment provision[5][7]. Forecast Accuracy and Risks - The performance forecast has not been audited by registered accountants, and the accuracy of the forecast is based on the company's financial department's preliminary calculations[8]. - There are no significant uncertainties affecting the accuracy of this performance forecast[8]. - The forecast data is preliminary and the final financial data will be disclosed in the official 2025 annual report[9]. - Investors are advised to pay attention to investment risks related to the preliminary nature of the forecast[9].