证券代码：600821 证券简称：金开新能 公告编号：2024-068 重要内容提示： | 回购方案首次披露日 | 2023/11/22 | | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 12 个月 | | 预计回购金额 | 万元 0 万元~24,000 | | 回购用途 | 用于员工持股计划或股权激励 | | 累计已回购股数 | 万股 2,993.85 | | 累计已回购股数占总股本比例 | 1.50% | | 累计已回购金额 | 16,973.92 万元 | | 实际回购价格区间 | 5.046 元/股~6.12 元/股 | 一、 回购股份的基本情况 公司于 2023 年 11 月 21 日召开第十届董事会第四十四次会议，审议通过了《关 于以集中竞价交易方式回购公司股份方案的议案》，同意公司使用自有资金或其他 合法资金以集中竞价的方式回购公司股份，回购资金总额不超过人民币 24,000 万元(含)，回购价格不超过人民币 8.00 元/股（含），回购期限自董事会审议通 过本次回购股份方案之日起不超过 12 个月。具体内容详见公司分别于 2023 年 11 月 22 日、2023 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [1][3][10] Core Views - The company's revenue has shown growth, but the net profit attributable to shareholders has decreased due to a decline in investment income and an increase in income tax expenses. For the first half of 2024, the company reported revenue of 1.881 billion yuan (+10.26%) and a net profit of 487 million yuan (-5.70%) [1][4] - The installed capacity of the company is steadily increasing, and the trading of green electricity and green certificates is expected to enhance project profitability. As of June 2024, the company's grid-connected capacity reached 4,767 MW, a year-on-year increase of 11% [1][9] - The company emphasizes shareholder returns and plans to distribute a cash dividend of 1.97 billion yuan for the first half of 2024, which accounts for 40.38% of the net profit attributable to shareholders [1][10] Summary by Sections Financial Performance - In the first half of 2024, the company achieved revenue of 1.881 billion yuan (+10.26%) and a net profit of 487 million yuan (-5.70%). The second quarter saw revenue of 1.040 billion yuan (+11.75%) and a net profit of 269 million yuan (-22.50%) [1][4] - The decrease in net profit is attributed to a reduction in investment income from joint ventures and an increase in income tax expenses due to the expiration of tax exemptions for certain power station projects [1][4][6] Installed Capacity and Market Position - The company’s grid-connected capacity reached 4,767 MW, an 11% increase year-on-year, while the approved installed capacity grew by 18% to 6,958 MW. This growth is expected to support stable performance in the future [1][9] - The company is actively participating in green electricity and green certificate trading, with a total of 305 million kWh traded in the first half of 2024, which is anticipated to improve project revenue [1][9] Shareholder Returns - The company is committed to shareholder returns, proposing a cash dividend of 1.00 yuan per share (before tax), totaling 1.97 billion yuan, which reflects a strong commitment to maintaining a regular cash dividend policy [1][10] Profit Forecast - Due to the decline in investment income and increased tax expenses, the profit forecast for 2024-2026 has been adjusted, with expected net profits of 970 million yuan, 1.20 billion yuan, and 1.42 billion yuan respectively, reflecting year-on-year growth rates of 21.0%, 23.1%, and 18.9% [2][10]

Investment Rating - The report maintains a "Buy" rating for the company, citing strong growth potential due to its substantial approved projects and diversified asset portfolio [2][4] Core Views - The company achieved revenue of RMB 1,883 million in H1 2024, up 10.26% YoY, while net profit attributable to shareholders declined by 5.70% YoY to RMB 487 million [1] - In Q2 2024, revenue increased by 11.75% YoY to RMB 1,040 million, but net profit attributable to shareholders fell by 22.50% YoY to RMB 269 million, primarily due to reduced investment income and increased tax expenses [1] - The company's installed capacity reached 4,767 MW by the end of H1 2024, with a 12% YoY increase, contributing to revenue growth [1] - The company allocated 70.85% of its H1 2024 net profit to shareholder returns, including a share buyback of RMB 148 million and a cash dividend of RMB 197 million [1] Financial Performance - The company's revenue is projected to grow from RMB 3,082 million in 2022 to RMB 6,176 million in 2026, with a CAGR of 17.59% [3] - Net profit attributable to shareholders is expected to increase from RMB 732 million in 2022 to RMB 1,587 million in 2026, with a CAGR of 24.61% [3] - EPS is forecasted to rise from RMB 0.37 in 2022 to RMB 0.79 in 2026 [3] - ROE (attributable to shareholders) is projected to improve from 8.74% in 2022 to 13.80% in 2026 [3] Business Development - The company is expanding its "new energy + high-energy-consuming/high-value-added" industrial chain, with a focus on diversified assets such as solar, wind, energy storage, and hydrogen energy [2] - It has secured key projects, including a 100 MW solar project in Tibet and a 150 MW wind project in Xinjiang, marking its first project development in Tibet [2] - The company's approved installed capacity stands at 6,958 MW, reinforcing its growth prospects [2] Valuation Metrics - The company's current PE ratio for 2024 is 10x, with a projected decline to 6x by 2026 [3] - PB ratio is expected to decrease from 1.2x in 2022 to 0.9x in 2026 [3] - EV/EBITDA is forecasted to remain stable, ranging from 10.4x to 9.8x between 2024 and 2026 [7] Profitability and Efficiency - Gross margin is expected to decline slightly from 62.7% in 2022 to 52.8% in 2026, while net profit margin is projected to improve from 23.7% to 25.7% over the same period [7] - ROA is forecasted to increase from 2.4% in 2022 to 3.7% in 2026, reflecting improved asset utilization [7] - The company's debt-to-equity ratio is expected to remain stable at around 73% from 2024 to 2026 [7]

Financial Performance - For the first half of 2024, the company reported a net profit attributable to shareholders of 487,215,091.02 CNY, a decrease of 5.70% compared to the same period last year[3]. - The total operating revenue for the first half of 2024 was 1,883,403,476.38 CNY, representing a year-on-year increase of 10.26%[7]. - The net cash flow from operating activities was 331,954,959.58 CNY, down 55.75% from the previous year[7]. - Basic earnings per share for the reporting period (January to June) decreased to 0.25 CNY, down 3.85% from 0.26 CNY in the same period last year[8]. - Net profit attributable to shareholders decreased by 29.47 million CNY, a decline of 5.70%, primarily due to a reduction in investment income from joint ventures by 46.98 million CNY[8]. - The company's total equity reached ¥8,200,003,302.34 as of June 30, 2024, compared to ¥8,197,452,576.70 at the end of 2023, indicating a slight increase[59]. - The company's net profit for the first half of 2024 is CNY 520,556,319.12, a decrease from CNY 551,663,579.50 in the same period of 2023, representing a decline of approximately 5.5%[61]. Asset and Liability Management - The company's total assets as of June 30, 2024, amounted to 34,771,394,652.43 CNY, an increase of 8.89% compared to the end of the previous year[7]. - Total liabilities amount to approximately ¥24.31 billion, with current liabilities at approximately ¥6.31 billion[56]. - Long-term borrowings stand at approximately ¥18.10 billion, an increase from ¥17.30 billion at the end of the previous year[56]. - The debt-to-asset ratio increased to 72.29%, up by 1.71 percentage points from the previous year[54]. - The total amount of cash and cash equivalents at the end of the period is RMB 280,115,975.56, compared to RMB 24,428,166.31 at the beginning of the period, indicating a significant increase[178]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.00 CNY per 10 shares, totaling approximately 196,732,495.30 CNY, which is 40.38% of the net profit for the first half of 2024[3]. - The total amount of dividends expected to be distributed in the first half of 2024 is approximately 345,211,280.92 CNY, accounting for 70.85% of the net profit[3]. - The company distributed cash dividends of RMB 148 million for the fiscal year 2023, accounting for 18.39% of the net profit attributable to shareholders[16]. Operational Highlights - Total power generation reached 4.167 billion kWh, an increase of 14.64% year-on-year[11]. - The approved installed capacity reached 6,958 MW, with a grid-connected capacity of 4,767 MW, representing year-on-year growth of 18% and 12% respectively[11]. - The company is expanding its business across more than 20 provinces, autonomous regions, and municipalities in China[11]. - The company is actively exploring strategic opportunities in green electricity and high-value-added industries[11]. Research and Development - The company’s R&D expenses rose by 36.38% to ¥8,544,938.74, compared to ¥6,265,755.70 in the previous year, reflecting increased software development costs[21]. - The company obtained two invention patents related to drone technology for wind turbine blade inspection and photovoltaic panel thermal spot detection, enhancing operational efficiency[19]. Market and Economic Context - In the first half of 2024, China's GDP reached 61.68 trillion yuan, growing by 5.0% year-on-year, meeting the government's target[12]. - Total electricity consumption in China for the first half of 2024 was 4.66 trillion kWh, an increase of 8.1% year-on-year, with significant contributions from the secondary industry (57%) and the tertiary industry (26%)[12]. - The government aims for non-fossil energy consumption to reach about 20% by 2025, with a focus on energy-saving and carbon reduction measures[13]. Risk Management - The company faces risks related to the potential decline of supportive policies for the renewable energy industry, which could impact its operational performance and profitability[31]. - The company is exposed to market risks as the proportion of electricity traded in the market increases, potentially squeezing project profit margins[31]. - The company has a significant portion of interest-bearing liabilities linked to LPR, which could increase financial expenses if LPR rises significantly[31]. Environmental and Social Responsibility - The company actively engages in ecological protection and climate change response, focusing on the application of renewable energy and technology innovation[37]. - The company is committed to supporting poverty alleviation and rural revitalization by building and operating poverty alleviation power stations and providing job opportunities[39]. Corporate Governance - The company has appointed You Mingyang as the chairman of the board, while he resigned as general manager due to work adjustments[35]. - The company has ensured compliance with related party transaction regulations and internal management systems[42].

证券代码：600821 证券简称：金开新能 公告编号：2024-062 金开新能源股份有限公司 第十届董事会第五十次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 号：2024-065）。 表决结果：9 票同意、0 票反对、0 票弃权。 本议案尚需提交股东大会审议。 四、关于提请召开 2024 年第二次临时股东大会的议案 董事会同意召开 2024 年第二次临时股东大会。 一、关于审议公司《2024 年半年度报告》及其摘要的议案 本议案已经审计委员会审议通过，并同意提交董事会审议。董事会同意本 议案。具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）披 露的《2024 年半年度报告》全文及摘要。 表决结果：9 票同意、0 票反对、0 票弃权。 二、关于审议《公司 2024 年半年度募集资金存放与使用情况的专项报告》 的议案 本议案已经审计委员会审议通过，并同意提交董事会审议。董事会同意本 议案。公司 2024 年半年度募集资金存放与使用情况符合中国证监会及上海证券 交易所的相关规定，符合公司 ...

证券代码：600821 证券简称：金开新能 公告编号：2024-066 金开新能源股份有限公司 关于公司 2024 年半年度主要经营数据的公告 | | 电站 | 装机容量 | 1-6 月 发电量 | 1-6 月 上网电 | 1-6 月 结算电 | | 上 网 电 价 | 第二季 | 第二季 | 第 二 季 度 结 算 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 加 权 均 价 | 度发电 | 度上网 | | | 区域 | 类型 | （兆瓦） | （万千 | 量（万千 | 量（万 | | （含补贴） | 量（万千 | 电量（万 | 电量（万 | | | | | | | 千 | 瓦 | （含税元/ | | | | | | | | 瓦时） | 瓦时） | | | | 瓦时） | 千瓦时） | 千瓦时） | | | | | | | 时） | | 千瓦时） | | | | | 西 北 地 区 | 光伏 | 1,176.58 | 90,02 | 89,181 | 89,113 | | 0.46 ...

证券代码：600821 证券简称：金开新能 公告编号：2024-063 金开新能源股份有限公司 第十届监事会第三十九次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、关于审议公司《2024 年半年度报告》及其摘要的议案 （一）公司《2024 年半年度报告》全文的编制和审议程序符合相关法律、法 规、《公司章程》和有关制度规定的要求； （二）公司《2024 年半年度报告》全文的内容和格式符合中国证监会和上海 证券交易所的各项规定，所包含的信息公允、全面、真实地反映了公司本报告期 内的财务状况和经营成果等事项； （三）我们未发现参与公司《2024 年半年度报告》的编制和审议人员有违反 保密规定的行为； （四）我们保证公司《2024 年半年度报告》全文所披露的信息真实、准确、 完整，承诺本报告所载资料不存在任何虚假记载、误导性陈述或重大遗漏，并对 其内容的真实性、准确性和完整性承担个别及连带责任。 具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）披露的 《2024 年半年度报告》全文及摘要。 ...

证券代码：600821 证券简称：金开新能 公告编号：2024-067 重要内容提示: 本次担保情况：2024年8月份，金开新能源股份有限公司（以下简称 "公司"）及下属子公司新增对外担保金额为0元。 对外担保逾期的累计数量：截至本公告披露日，公司及子公司实际发 生的对外担保余额为1,637,111.22万元，占公司最近一期经审计归母净资产 的比例为183.06%，无逾期对外担保事项。 一、担保情况概述 （一）2024 年度对外担保额度预计情况 金开新能源股份有限公司 关于子公司2024年8月提供担保的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 （二）2024 年 8 月公司对外担保业务发生情况 2024 年 8 月份，公司及下属子公司新增对外担保金额为 0 元。 二、累计对外担保数量及逾期担保的数量 截至公告日，公司及子公司提供的实际担保余额为 1,637,111.22 万元，其 中上市公司为子公司提供的实际担保金额为 0 元，上述数额分别占上市公司最近 一期经审计归母净资产的 183.06%和 0%，公司无逾期担 ...

一、利润分配方案内容 根据金开新能源股份有限公司（以下简称"公司"）2024 年半年度财务报 告（未经审计），2024 年半年度公司合并利润表实现归属于上市公司股东的净 利润为 487,215,091.02 元；截至 2024 年 6 月 30 日，母公司可供分配利润为 414,377,710.53 元。为回报广大股东，秉承长期现金分红的原则，公司 2024 年 上半年度利润分配预案如下： 1、公司拟以实施权益分派股权登记日登记的总股本扣除公司回购专用账户 的股份余额为基数向全体股东每 10 股派发现金红利 1.00 元（含税）。以截至 2024 年 7 月 31 日公司总股本股扣减公司回购账户 29,938,500 股后的股本数 1,967,324,953 股测算，拟派发现金红利 196,732,495.30 元（含税）,占公司 2024 年上半年度归属上市公司股东净利润（未经审计）的 40.38%。 证券代码：600821 证券简称：金开新能 公告编号：2024-065 金开新能源股份有限公司 关于 2024 年上半年度利润分配的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 证券代码：600821 证券简称：金开新能 公告编号：2024-059 金开新能源股份有限公司 2024 年第一次临时股东大会决议公告 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 269 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 622,951,534 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 31.66 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会采取现场投票与网络投票相结合的表决方式，均符合《公司法》及 《公司章程》的规定。本次股东大会由公司董事会召集，公司董事长尤明杨先生 因工作原因未能出席，经半数以上董事推荐，由公司董事、董事会秘书范晓波先 生主持本次股东大会，符合《公司法》和《公司章程》的有关规定。 (五) 公司董事、监事和董事会秘书的出席情况 (一) 股东大 ...