| 证券代码：600863 | 证券简称：内蒙华电 | 公告编号：临 | 2024-040 | | | --- | --- | --- | --- | --- | | 债券代码：185193 | | 债券简称：21 | 蒙电 | Y1 | | 债券代码：240363 | | 债券简称：23 | 蒙电 | Y1 | | 债券代码：240364 | | 债券简称：23 | 蒙电 | Y2 | 内蒙古蒙电华能热电股份有限公司 第十一届监事会第十一次会议决议公告 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、监事会会议召开情况 （一）本次监事会的召开符合有关法律、行政法规、部门规章、规 范性文件和公司章程的规定。 （四）公司监事 3 人，参加表决 3 人。 二、监事会会议审议情况 （一）以 3 票赞成，0 票反对，0 票弃权，审议批准了公司《关于 投资建设察右中旗灵改配置新能源项目的议案》。认为董事会审议该议 案程序合法，符合公司章程及相关规定的要求，不存在损害公司及股东 特别是中小股东利益的情形。 （二）以 3 票赞成，0 票 ...

| 证券代码：600863 | 证券简称：内蒙华电 | 公告编号：临 | 2024-037 | | | --- | --- | --- | --- | --- | | 债券代码：185193 | | 债券简称：21 | 蒙电 | Y1 | | 债券代码：240363 | | 债券简称：23 | 蒙电 | Y1 | | 债券代码：240364 | | 债券简称：23 | 蒙电 | Y2 | 债券代码：185193 债券简称：21 蒙电 Y1 债券代码：240363 债券简称：23 蒙电 Y1 债券代码：240364 债券简称：23 蒙电 Y2 内蒙古蒙电华能热电股份有限公司 第十一届董事会第十一次会议决议公告 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。 一、董事会会议召开情况 （一）本次董事会的召开符合有关法律、行政法规、部门规章、规 范性文件和公司章程的规定。 （二）召开本次会议的通知及资料于 2024 年 11 月 21 日以电子邮 件、书面方式送达。 （三）本次会议以现场结合通讯的方式召开，于 2024 年 12 月 ...

证券代码：600863 证券简称：内蒙华电 公告编号：2024-041 内蒙古蒙电华能热电股份有限公司 关于召开 2024 年第一次临时股东大会的通知 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： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2024 年第一次临时股东大会 召开的日期时间：2024 年 12 月 23 日 10 点 00 分 召开地点：内蒙古呼和浩特市锡林南路工艺厂巷电力科技楼三楼会议室 (五) 网络投票的系统、起止日期和投票时间。 股东大会召开日期：2024年12月23日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 12 月 23 日 至 2024 年 12 月 23 日 采用上海证券交易所网络投票系统，通过交易系统投票 ...

内蒙华电 2024 年第一次临时股东大会 会议议程 一、会议时间：2024 年 12 月 23 日 二、会议地点：内蒙古蒙电华能热电股份有限公司三楼 会议室 三、主持人致欢迎辞 内蒙古蒙电华能热电股份有限公司 2024 年第一次临时股东大会 会议资料 2024 年 12 月·呼和浩特 | | | | 会议议程 | 3 | | --- | --- | | 关于投资建设库布齐沙漠基地鄂尔多斯新能源风电项目（二 | | | 期暖水 60 万千瓦风电项目）的议案 | 5 | | 关于投资建设金桥和林火力发电灵活性改造配套消纳新能 | | | 源 480 兆瓦项目的议案 | 9 | | 关于投资建设察右中旗灵改配置新能源项目的议案 | 12 | | 关于变更公司第十一届董事会部分董事的议案 | 15 | 4.审议公司《关于变更公司第十一届董事会部分董事的 议案》。 七、议案表决 八、监票人、计票人统计表决情况 四、宣布大会参加人数、代表股数。介绍会议出席人员， 介绍律师事务所见证律师。 五、主持人提议监票人、计票人、记录人 六、股东及股东代表逐项审议以下议案： 1.审议公司《关于投资建设库布齐沙漠基地鄂尔多斯新 能源风 ...

Investment Rating - The report maintains an "Outperform" rating for Inner Mongolia Huadian Power (600863 SH) [1][12] Core Views - The company's power business faces pressure due to declining electricity prices, while its coal business shows steady growth [1] - Revenue decreased due to lower electricity prices, but net profit increased driven by coal business and investment income [1][5] - The company achieved operating revenue of 16 583 billion yuan in the first three quarters of 2024, a year-on-year decrease of 2 36% [1] - Net profit attributable to shareholders reached 2 469 billion yuan, a year-on-year increase of 13 08% [1] Power Business - In the first three quarters of 2024, the company's cumulative power generation was 45 103 billion kWh, a year-on-year decrease of 1 77% [2] - Electricity sold to the grid was 41 782 billion kWh, down 1 85% year-on-year [2] - The average electricity selling price was 334 78 yuan/MWh (excluding tax), a year-on-year decrease of 11 93 yuan/MWh or 3 44% [2] Coal Business - Coal production reached 10 556 million tons in the first three quarters of 2024, a year-on-year increase of 2 34% [2] - Coal sales volume was 5 2293 million tons, a year-on-year increase of 10 67% [2] - The average coal selling price was 413 29 yuan/ton (excluding tax), a year-on-year increase of 12 38 yuan/ton or 3 09% [2] Financial Performance - The company's gross profit margin was 22 19% in the first three quarters of 2024, a slight decrease of 0 24 percentage points year-on-year [7] - Net profit margin increased by 1 67 percentage points to 16 60% [7] - ROE reached 14 77%, an increase of 1 07 percentage points year-on-year [8] Profit Forecast - The report adjusts the profit forecast, expecting net profit attributable to shareholders to be 2 52/2 87/3 17 billion yuan for 2024-2026 [12] - EPS is expected to be 0 39/0 44/0 49 yuan for 2024-2026 [12] - The current PE ratios are 11 6/10 2/9 2x for 2024-2026 [12] Industry Comparison - Comparable companies include Shanghai Electric Power (600021 SH) with a PE ratio of 10 8x for 2024E [13] - Funeng Power (600483 SH) has a PE ratio of 9 2x for 2024E [13] - Guangdong Electric Power Development (000539 SZ) has a PE ratio of 17 1x for 2024E [13]

尊敬的各位投资者和广大支持内蒙华电的朋友们大家上午好欢迎大家参加内蒙华电2024年第三季度业绩说明会本次会采取视频录制加网络文字互动的形式和大家进行交流我是董事会秘书赵立坤 首先非常感谢上海中线交易所商政路远中心为公司搭建与投资者交流的平台增加公司向资本市场展示的机会增进投资者对公司的了解及时传递公司投资价值出席本次业绩说明会的嘉宾有董事长高原先生独立董事严杰慧先生总经理王曾锐先生副总经理王小龙先生总会计师王自南女士 今天的业绩说明会主要分为两个部分首先由公司总经理对本次活动进行致辞并详细介绍公司2024年第三季度经营情况然后是针对投资者关心的一系列问题和大家进行交流也希望今天的业绩说明会能够让大家进一步了解内蒙华电的经营情况和投资价值首先有请总经理王曾锐先生致辞并介绍公司经营发展情况 尊敬的各位股东投资者朋友们大家上午好我是内蒙华电总经理王真瑞很高兴能和大家相聚一次共同参加内蒙华电2024年第三季度业绩说明会我们十分重视此次与大家共同交流的机会在此我代表内蒙华电向一直以来关心和支持内蒙华电改革和发展的各位股东投资者朋友们表示衷心的感谢 内蒙华电是内蒙古自治区首家商业公司,是区域大型的综合性能源公司之一,发电 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [3] Core Views - The company's performance in Q3 2024 was below expectations, with a revenue of 5.81 billion yuan, a year-on-year decline of 1.22%, and a net profit attributable to shareholders of 702 million yuan, a year-on-year increase of 0.19% [3] - The decline in investment income led to lower profit growth; excluding this impact, net profit growth was 7.5% [3] - The company achieved a coal production of 3.727 million tons in Q3, a year-on-year increase of 17.8%, while the electricity generation from thermal power decreased by 5% [4] - The company maintains a commitment to a dividend payout ratio of 70%, with a projected dividend yield of 5.6% for 2024 [5] Summary by Sections Financial Performance - In Q3 2024, the company reported an operating income of 5.81 billion yuan, a decrease of 1.22% year-on-year, and a net profit of 702 million yuan, which is a slight increase of 0.19% year-on-year [3] - The investment income for Q3 was 56 million yuan, down by 63 million yuan year-on-year, primarily due to reduced dividend income from associated companies [3] - The company's coal production increased to 3.727 million tons in Q3, with external sales of 1.709 million tons, a year-on-year increase of 10.9% [4] Market Performance - The average on-grid electricity price for the first three quarters was 0.3348 yuan per kilowatt-hour, a decrease of 1.2 cents year-on-year [4] - The company’s coal sales price averaged 413.3 yuan per ton, an increase of 12.38 yuan per ton year-on-year, which is higher than the first half of the year [4] Profit Forecast and Valuation - The forecast for net profit attributable to shareholders for 2024-2026 is 2.476 billion yuan, 2.812 billion yuan, and 3.008 billion yuan, with year-on-year growth rates of 23.5%, 13.5%, and 7.0% respectively [5] - The current stock price corresponds to a P/E ratio of 12, 10, and 10 times for the years 2024, 2025, and 2026 respectively [5]

感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 各位参会人员本次会议观点和信息仅限于此次受邀的海庚证券客户中的专业投资者参考所有参与者均负有合规参会义务和保密义务 严禁私自录音 录像严禁传播会议纪要或泄露会议内容严禁发表 诱导他人发表或传播违规言论市场有风险 投资需谨慎投资者应自主独立决策一海之言 一海通达 海通研究小程序金门财经 全时等是研究所指定会议平台 各位投资者大家下午好欢迎各位参加内蒙华电的三级报的业余交流我是海同志圈的公用分析师严实今天由吴杰老师和我一起作为主持人我们邀请了内蒙华电的董地赵总和大家交流一下内蒙华电三级报的一个情况首先我们就先把时间交给赵总请赵总简单介绍一下公司的经营情况之后再由各位投资者和上市公司领导做一个交流 好的 谢谢吴总 谢谢袁老师这样 我简单的说一下内蒙华电三季度的情况吧那么截止到三季度呢我们这个规模净利润呢实现的是24.69个亿 然后扣费以后呢是24.05个亿这个同比呢去实现一个双位数的一个增长吧然后其实在去年的三季度呢我们也是实现了一个比较高位的一个增长那么今 ...

Investment Rating - The report maintains a "Buy" rating for the company [4][7] Core Views - The company reported a slight increase in profit year-on-year for Q3, with a net profit of 7.02 billion yuan, reflecting a 0.19% growth [4][5] - The overall revenue for the first nine months of 2024 was 165.83 billion yuan, a decrease of 2.36% compared to the previous year [4] - The company's coal production capacity has increased to 15 million tons per year, supporting profitability in the coal sector [5][6] - Financial costs have significantly decreased, contributing positively to the company's performance [6] Summary by Relevant Sections Financial Performance - For the first nine months of 2024, the company achieved a net profit of 24.69 billion yuan, a year-on-year increase of 13.08% [4] - The average selling price of electricity decreased by 3.44% to 334.78 yuan per megawatt-hour [5] - The company's coal production reached 10.56 million tons, a 2.34% increase year-on-year, with sales volume up by 10.67% [6] Profitability Forecast - The forecasted net profits for 2024, 2025, and 2026 are 26.19 billion yuan, 28.15 billion yuan, and 32.02 billion yuan respectively, with corresponding PE ratios of 11, 11, and 9 [7] - The company plans to distribute at least 70% of its distributable profits as dividends in 2024, leading to a projected dividend yield of 5.8% [7] Market Comparison - The company's stock price closed at 4.59 yuan, with a market capitalization of approximately 29.96 billion yuan [1][2] - The stock has shown a performance trend compared to the CSI 300 index, indicating relative market behavior [3]

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 股 票 研 究 证 券 研 究 报 告 股票研究 /[Table_Date] 2024.10.29 ——内蒙华电 2024 年三季报点评 业绩略超预期，一体化优势显现 内蒙华电(600863) [Table_Industry] 电力/公用事业 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------|-------------------------------------|-------------------|----------------------------|-------|-------|--------|----------------|-------|-------|-------|-------------------------|-------| | | | | | | | | | | | | | | | | [table_Authors ...