Core Viewpoint - Tongbao Energy's stock price has shown a year-to-date increase of 7.28%, but has recently experienced a decline of 4.13% over the past five trading days, indicating volatility in its market performance [2]. Company Overview - Tongbao Energy, established on August 28, 1992, and listed on December 5, 1996, is located at 272 Changzhi Road, Taiyuan, Shanxi Province. The company primarily engages in thermal power generation and distribution [2]. - The revenue composition of Tongbao Energy is as follows: 98.22% from electricity, 1.73% from heat, and 0.05% from other sources [2]. - The company is classified under the public utility sector, specifically in the electric power and thermal power generation industry [2]. Financial Performance - For the period from January to September 2025, Tongbao Energy reported a revenue of 8.185 billion yuan, reflecting a year-on-year growth of 4.11%. The net profit attributable to shareholders was 487 million yuan, marking a significant increase of 26.60% [2]. - Since its A-share listing, Tongbao Energy has distributed a total of 1.119 billion yuan in dividends, with 206 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Tongbao Energy was 32,500, a decrease of 2.18% from the previous period. The average number of circulating shares per shareholder increased by 2.23% to 35,311 shares [2]. - Among the top ten circulating shareholders, the Southern CSI 1000 ETF held 5.2436 million shares, a decrease of 47,800 shares from the previous period. The Hong Kong Central Clearing Limited held 4.8184 million shares, down by 383,960 shares [3].

Core Points - Tongbao Energy (600780) disclosed that as of September 30, 2025, the number of shareholders is 32,468 [1]

格隆汇11月17日丨通宝能源(600780.SH)在投资者互动平台表示,公司通宝平鲁风电项目尚未并网发电。 ...

Core Viewpoint - Tongbao Energy (600780) confirmed its stake in Jin Energy Holding Jinbei Energy Co., Ltd. during an investor Q&A on November 10, adhering to information disclosure requirements [1] Group 1 - Tongbao Energy is a shareholder in Jin Energy Holding Jinbei Energy Co., Ltd. [1] - The company complies with information disclosure obligations as mandated [1]

Group 1 - The company, Tongbao Energy (600780), responded to investor inquiries on November 10, indicating that all projects are following the bidding procedures for procurement [1] - Investors are advised to monitor the Shanxi bidding website for updates related to the company's projects [1]

证券日报网讯通宝能源（600780）11月10日在互动平台回答投资者提问时表示，根据公司2024年及2025 年半年报，火力发电毛利率分别为3.58%及6.09%(不考虑热力)。2024年主要受电力现货市场总体电价水 平较低，导致毛利率较低，2025年发电板块上网电价同比增加，同时增加低热值煤使用量，燃料采购综 合成本同比下降，使得毛利率有所提升，不存在购买高价煤的情形。 ...

Group 1 - The company, Tongbao Energy (600780.SH), stated on the investor interaction platform that it does not engage in purchasing high-priced coal [1]

Core Viewpoint - Tongbao Energy (600780.SH) stated on the investor interaction platform that the company does not engage in purchasing high-priced coal [1] Group 1 - The company clarified its position regarding coal procurement practices [1]

Core Viewpoint - Tongbao Energy, established in 1992 and listed in 1996, is a significant player in the Shanxi power grid, primarily engaged in thermal power generation and distribution, benefiting from regional advantages [1] Group 1: Business Performance - For Q3 2025, Tongbao Energy reported revenue of 8.185 billion, ranking 21st among 28 companies in the industry, while the top company, Huaneng International, achieved revenue of 172.975 billion [2] - The net profit for the same period was 486 million, placing the company 20th in the industry, with Huaneng International leading at 19.436 billion [2] Group 2: Financial Ratios - As of Q3 2025, Tongbao Energy's debt-to-asset ratio was 26.43%, lower than the previous year's 27.01% and significantly below the industry average of 61.62% [3] - The gross profit margin for Q3 2025 was 9.14%, an increase from 8.30% year-on-year, but still below the industry average of 18.24% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 2.18% to 32,500, while the average number of shares held per shareholder increased by 2.23% to 35,300 [5] - Among the top ten circulating shareholders, the Southern CSI 1000 ETF held 5.2436 million shares, a decrease of 47,800 shares from the previous period [5]

Core Insights - Tongbao Energy (600780.SH) reported a total operating revenue of 8.185 billion yuan for Q3 2025, marking an increase of 323 million yuan or 4.11% year-on-year [1] - The net profit attributable to shareholders reached 487 million yuan, reflecting a year-on-year increase of 26.60% or 102 million yuan [1] - The net cash inflow from operating activities was 1.141 billion yuan, up 16.37% year-on-year, continuing a two-year upward trend [1] Financial Performance - The latest debt-to-asset ratio stands at 26.43%, ranking 7th among disclosed peers, a decrease of 0.58 percentage points from the same period last year [3] - The gross profit margin is reported at 9.14%, an increase of 0.54 percentage points from the previous quarter and up 0.84 percentage points year-on-year [3] - Return on equity (ROE) is at 5.94%, ranking 29th among peers, with an increase of 0.85 percentage points year-on-year [3] Earnings Metrics - The diluted earnings per share (EPS) is 0.42 yuan, an increase of 0.09 yuan or 26.60% year-on-year, ranking 16th among peers [3] - The total asset turnover ratio is 0.76 times, ranking 1st among disclosed peers [3] - The inventory turnover ratio is 52.18 times, ranking 8th among peers [3] Shareholder Structure - The number of shareholders is 32,500, with the top ten shareholders holding 750 million shares, accounting for 65.46% of the total share capital [3] - The largest shareholder is Shanxi International Power Group Co., Ltd., holding 573 million shares [3]