Revenue and Profit Growth - Revenue for the third quarter reached RMB 5.59 billion, a year-on-year increase of 4.49%[2] - Net profit attributable to shareholders of the listed company for the third quarter was RMB 1.04 billion, up 26.85% year-on-year[2] - The company's total revenue for the first three quarters of 2024 was RMB 15.41 billion, up 6.73% year-on-year, driven by increased power generation from hydro, thermal, and new energy sources[4] - Net profit attributable to shareholders for the first three quarters was RMB 2.46 billion, a 43.27% increase year-on-year, primarily due to higher hydro and thermal power generation and lower coal prices[5] - Operating revenue reached 15.41 billion yuan, up 6.73% from 14.44 billion yuan in the previous period[16] - Net profit attributable to parent company owners increased to 15.08 billion yuan from 13.20 billion yuan, a growth of 14.22%[15] - Net profit attributable to parent company shareholders reached 2,461,194,619.88 yuan, an increase of 43.3% compared to the same period last year[17] - Total comprehensive income for the period was 2,820,172,135.83 yuan, a 34.6% increase from the previous year[17] - Basic earnings per share rose to 0.38 yuan, a 46.2% increase compared to 0.26 yuan in the same period last year[18] - Sales revenue from goods and services reached 40,933,241,605.68 yuan, a 9.7% increase year-over-year[19] Cash Flow and Financial Activities - Operating cash flow for the first three quarters of 2024 was RMB 5.91 billion, a significant increase of 105.28% year-on-year[2] - Net cash flow from operating activities increased by 3,031,253,824.90 yuan, a 105.28% rise compared to the same period last year, mainly due to increased income and higher electricity fee collections[8] - Net cash flow from financing activities decreased by 2,660,289,989.79 yuan, an 88.47% drop compared to the same period last year, mainly due to a net decrease in financing lease payments[8] - Operating cash flow increased significantly to 5,910,613,308.76 yuan, up 105.3% year-over-year[19] - Cash and cash equivalents at the end of the period stood at 2,422,038,668.22 yuan, a 66.1% increase from the beginning of the year[20] - Investment activities resulted in a negative cash flow of 5,287,190,137.84 yuan, reflecting ongoing capital expenditures[19] - Financing activities generated a positive cash flow of 346,804,772.11 yuan, primarily from new borrowings[20] Asset and Liability Changes - Total assets as of the end of the reporting period were RMB 98.61 billion, an increase of 8.01% compared to the end of the previous year[2] - Short-term borrowings rose by 86.78% to RMB 6.16 billion, driven by new short-term loans for production and project construction[6] - Contract liabilities increased by 40.68% to RMB 5.13 billion, mainly due to higher prepayments for coal[6] - Other payables surged by 109.78% to RMB 2.81 billion, reflecting increased financial obligations[6] - One-year non-current liabilities decreased by 3,002,676,648.32 yuan, a 35.44% drop from the beginning of the year, mainly due to the repayment of due loans[7] - Other current liabilities increased by 188,859,771.53 yuan, a 40.44% rise from the beginning of the year, primarily due to an increase in deferred output tax[7] - Long-term payables decreased by 603,141,915.12 yuan, a 55.04% drop from the beginning of the year, mainly due to the repayment of financing lease payments[7] - Treasury stock decreased by 42,235,740.48 yuan, a 50.90% drop from the beginning of the year, mainly due to the repurchase and cancellation of treasury stock[7] - Special reserves increased by 70,662,238.95 yuan, a 119.19% rise from the beginning of the year, mainly due to an increase in safety production expenses[7] - The company's monetary funds increased to 2.768 billion yuan from 1.625 billion yuan at the beginning of the period[13] - Accounts receivable slightly increased to 4.767 billion yuan from 4.740 billion yuan[13] - Prepayments significantly rose to 6.086 billion yuan from 4.097 billion yuan[13] - Inventory decreased to 680.32 million yuan from 717.23 million yuan[13] - Total current assets grew to 14.982 billion yuan from 11.939 billion yuan[13] - Long-term equity investments increased to 5.838 billion yuan from 5.521 billion yuan[13] - Fixed assets rose to 59.419 billion yuan from 57.874 billion yuan[13] - Construction in progress increased to 8.837 billion yuan from 7.259 billion yuan[13] - Total assets increased to 98.61 billion yuan from 91.29 billion yuan, a growth of 8.02%[14] - Total liabilities rose to 57.52 billion yuan from 52.80 billion yuan, an increase of 8.94%[14] - Owner's equity grew to 41.08 billion yuan from 38.49 billion yuan, up 6.73%[15] - Short-term borrowings surged to 6.16 billion yuan from 3.30 billion yuan, an increase of 86.76%[14] - Contract liabilities rose to 5.13 billion yuan from 3.65 billion yuan, up 40.66%[14] - The company's total assets grew by 6.8% compared to the beginning of the year, reaching 2,422,038,668.22 yuan[20] Expenses and Taxes - Development expenditure increased by 321.40% to RMB 3.25 million due to increased R&D investment[6] - Taxes and surcharges increased by 53,615,774.30 yuan, a 60.71% rise compared to the same period last year, mainly due to increased income leading to higher related surcharges[7] - Other income increased by 43,163,876.11 yuan, a 47.32% rise compared to the same period last year, mainly due to an increase in government subsidies included in other income[7] - Operating costs decreased to 12.23 billion yuan from 12.47 billion yuan, a reduction of 1.93%[16] - Interest expenses increased to 736.40 million yuan from 639.83 million yuan, up 15.09%[16] - Tax payments increased by 84.4% to 1,534,721,601.26 yuan, reflecting higher profitability[19] Shareholder and Equity Information - The total number of ordinary shareholders at the end of the reporting period was 73,227[9] - The company repurchased and canceled 19.781 million restricted shares due to unmet performance targets and retirement of incentive recipients[12] - The company distributed a cash dividend of 0.90 yuan per 10 shares for the 2023 fiscal year[12] - Other comprehensive income grew to 314.25 million yuan from 279.91 million yuan, up 12.27%[15] Corporate Governance and Meetings - Hubei Energy Group Co., Ltd. held its board meeting on October 25, 2024[21]

湖北能源集团股份有限公司 监事会关于公司 2024 年度向特定对象发行股票的 书面审核意见 根据《中华人民共和国公司法》（以下简称《"公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公 司证券发行注册管理办法》（以下简称"《发行注册管理办法》"） 等有关法律、法规和规范性文件以及《湖北能源集团股份有限公司章 程》（以下简称"《公司章程》"）的有关规定，我们作为湖北能源 集团股份有限公司（以下简称"公司"）监事，在全面审核公司2024 年度向特定对象发行A股股票（以下简称"本次发行"）相关文件后， 发表书面审核意见如下： 一、关于公司符合向特定对象发行A股股票条件的审核意见 根据《公司法》《证券法》《发行注册管理办法》等法律、法规 和规范性文件的有关规定，对照上市公司向特定对象发行股票的相关 资格、条件要求，经过对公司实际情况及相关事项进行自查论证，我 们确认公司符合向特定对象发行股票的资格和条件。 二、关于公司2024年度向特定对象发行A股股票方案的审核意见 我们认为，公司本次向特定对象发行股票方案符合《公司法》《证 券法》《发行注册管理办法》及其他有关法律、法规、规章和规范性 文件 ...

关于 2024 年 9 月发电情况的自愿性信息披露公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 证券代码：000883 证券简称：湖北能源 公告编号：2024-061 湖北能源集团股份有限公司 注：上述数据小数位差异主要因四舍五入导致。 单位：亿千瓦时 项目 本月发电量 同比变动 本年累计发电量 同比变动 水电 3.44 -73.78% 99.87 27.22% 火电 29.84 111.63% 189.24 24.61% 新能源 6.53 55.48% 49.03 34.29% 其中： 风电 2.10 27.27% 16.66 12.49% 光伏发电 4.43 73.05% 32.37 49.17% 合计 39.81 26.70% 338.14 26.71% 上述发电量数据系公司初步统计，公司发电量数据在月度之间可 能存在较大差异，其影响因素包括但不限于天气变化、来水情况、季 节因素、设备检修、安全检查等，最终数据请以公司披露的定期报告 为准。提醒投资者不宜以此数据简单推算公司业绩，并注意投资风险。 特此公告。 湖北能源集团股份有限公司董事会 2024 ...

证券代码：000883 证券简称：湖北能源 湖北能源集团股份有限公司投资者关系活动记录表 编号：2024009 | --- | --- | --- | |--------------|--------------------------|----------------------------------------------------| | | | | | 投资者关系活 | | 特定对象调研 □分析师会议 | | 动类别 | □媒体采访 | 业绩说明会 | | | □新闻发布会 | 路演活动 | | | □现场参观 | | | | 其他 | | | 参与单位名称 | 中信资管： | | | 及人员姓名 | 张晓亮 | 、卢华权、刘将超、许宏图、袁智志、秦雪峰 | | 时间 | 2024 年 9 月 10 | 日下午 5:00-6:00 | | 地点 | 公司 3708 室 | | | 上市公司接待 | 证券事务代表熊维祥、刘晓 | | | 人员姓名 | 董事会办公室专责刘俞麟 | | | | 1. 平？ | 今年公司水电项目来水是否可以达到多年平均水 | | | 回复： 2024 | 年 1-8 月，公 ...

公司本年累计完成发电量298.33亿千瓦时，同比增加26.71%。其 中水电发电量同比增加47.51%，火电发电量同比增加15.71%，新能源 发电量同比增加31.54%。 公司2024年8月发电情况表 证券代码：000883 证券简称：湖北能源 公告编号：2024-060 湖北能源集团股份有限公司 关于 2024 年 8 月发电情况的自愿性信息披露公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 为便于投资者及时了解公司生产情况，现将湖北能源集团股份有 限公司（以下简称公司）2024年8月发电量情况公告如下： 2024年8月，公司完成发电量41.13亿千瓦时，同比增加1.56%。 其中水电发电量同比减少54.97%，火电发电量同比增加28.32%，新能 源发电量同比增加56.56%。 湖北能源集团股份有限公司董事会 2024 年 9 月 10 日 单位：亿千瓦时 | 项目 | 本月发电量 | 同比变动 | 本年累计发电量 | 同比变动 | | --- | --- | --- | --- | --- | | 水电 | 6.57 | -54.97% | 96. ...

证券代码：000883 证券简称：湖北能源 湖北能源集团股份有限公司投资者关系活动记录表 编号：2024008 | --- | --- | --- | |-----------------|----------------------------|---------------------------------------------------------------------------------------------| | | | | | 投资者关系活 | 特定对象调研 | □分析师会议 | | 动类别 | □媒体采访 | 业绩说明会 | | | □新闻发布会 | 路演活动 | | | □现场参观 | | | | 其他 | | | 参与单位名称 | | 华泰证券李雅琳、长江证券宋尚骞、财通证券任子悦、 | | 及人员姓名 | 2024 | 华源证券邓思平、中信建投罗焱曦及其他线上参与公司 年半年度网上业绩说明会的投资者 | | 时间 | 2024 年 9 月 3 | 日下午 3:00-4:00 | | 地点 | 公司 3708 室 | | | 上市公司接待 | | 独立董事杨汉明先生、部分公司领 ...

Investment Rating - Investment Rating: Buy [1] - Target Price: RMB 6.80 [1] Core Views - The company's revenue and net profit for 1H24 were RMB 98.21 billion and RMB 14.26 billion, representing year-on-year increases of 8.05% and 58.14% respectively [2] - The significant growth in net profit is attributed to improved water inflow and a decrease in coal prices, leading to a 67.19% increase in hydropower generation and a 281% increase in net profit from thermal power [2][3] - The forecasted net profits for 2024-2026 are RMB 30.26 billion, RMB 32.10 billion, and RMB 34.41 billion respectively [2] Revenue and Profit Analysis - In 1H24, the company's hydropower generation increased by 67.19% to 69.3 billion kWh, resulting in a net profit of RMB 8.69 billion, a 133% increase year-on-year [4] - The thermal power segment saw a 16.54% increase in generation to 112.43 billion kWh, with net profit rising to RMB 4.52 billion [3] - The coal trading revenue decreased by RMB 10.41 billion due to a strategic shift to reduce external coal procurement, but the gross margin for coal trading and storage increased by 17.67 percentage points to 26.25% [3] Future Projections - The company expects to achieve a net profit of RMB 4.46 billion from new energy in 2024, with hydropower and thermal power net assets projected at RMB 137 billion and RMB 41 billion respectively [2] - The estimated PE/PB ratios for 2024 are 14.5 and 2.5, respectively, with a target market value of RMB 442 billion [2][15] Financial Metrics - The company's revenue for 2024 is projected to be RMB 21.022 billion, with a net profit of RMB 3.026 billion, reflecting a growth rate of 73.06% year-on-year [5] - The expected EPS for 2024 is RMB 0.47, with a ROE of 9.04% [5][17] - The company's financial ratios indicate a PE of 10.12 and a PB of 0.88 for 2024 [5][17]

证券代码：000883 证券简称：湖北能源 公告编号：2024-058 关于举办 2024 年半年度业绩说明会的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 重要内容提示： 1.会议召开时间：2024 年 9 月 3 日（星期二）下午 15:00-16:00； 2.会议召开方式：采用网络远程的方式召开 3.网络会议地址：小鱼易连（会议号9081740519，密码000883， 具体路径详见附件小鱼易连使用说明） 湖北能源集团股份有限公司 投资者请于 2024 年 9 月 3 日下午 15:00-16:00 登录小鱼易连（会 议号 9081740519，密码 000883）参加业绩说明会，公司将及时回答 投资者提问。 4.投资者可于2024年9月1日前通过公司邮箱（hbnyzq@hbny.com. cn）进行提问。公司将在业绩说明会上对投资者普遍关注的问题进行 回答。 湖北能源集团股份有限公司（以下简称公司）于 2024 年 8 月 28 日在巨潮资讯网（www.cninfo.com.cn)披露《2024 年半年度报告》。 为便于广大投资者进一步了解公司发 ...

Investment Rating - The investment rating for Hubei Energy (000883.SZ) is "Outperform the Market" [4][20]. Core Views - The company's operating revenue increased to 9.821 billion yuan (+8.05%) in H1 2024, with a significant improvement in net profit attributable to shareholders, reaching 1.426 billion yuan (+58.14%) [1][5]. - The growth in revenue is attributed to higher water levels and improved water inflow for hydropower, increased installed capacity for thermal power, and growth in renewable energy generation [1][5]. - The profitability of coal power is stabilizing, with ongoing projects expected to enhance capacity and profit margins in the future [1][16]. - The company is actively expanding its renewable energy and pumped storage projects, which are anticipated to contribute to further profit growth [1][16]. Summary by Sections Financial Performance - In H1 2024, the company achieved an operating revenue of 9.821 billion yuan, with a net profit of 1.426 billion yuan, reflecting a substantial year-on-year increase [1][5]. - The second quarter saw a revenue of 4.615 billion yuan (-7.63%) and a net profit of 646 million yuan (+9.33%) [5]. - The increase in net profit is primarily due to improved hydropower generation and reduced fuel costs for thermal power [1][5]. Revenue Breakdown - Hydropower revenue increased by 1.003 billion yuan, thermal power revenue rose by 677 million yuan, and renewable energy revenue grew by 95 million yuan [1][5]. - The company has reduced external coal procurement, focusing on internal sourcing, which has impacted coal trading revenue negatively [5]. Future Outlook - The company expects stable electricity and coal prices, which will help maintain reasonable profit levels in the coal power segment [1][16]. - Ongoing projects, including the Jiangling Phase II thermal power expansion with a capacity of 1.32 million kilowatts, are expected to enhance the company's coal power capacity and profitability [1][16]. - The company added 655,500 kilowatts of controllable power generation capacity in H1 2024, with a total capacity of 16.3273 million kilowatts as of June 2024 [1][16]. Valuation - The estimated net profit for 2024-2026 is projected to be 2.569 billion yuan, 2.926 billion yuan, and 3.322 billion yuan, respectively, with corresponding EPS of 0.39, 0.45, and 0.51 yuan [2][16]. - The current stock price corresponds to a PE ratio of 12.5 for 2024, with a target price range of 5.12 to 5.52 yuan per share, indicating a premium of 4% to 12% over the current price [2][16].

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 9,821,015,931.18, representing an increase of 8.05% compared to CNY 9,089,402,812.89 in the same period last year[11]. - Net profit attributable to shareholders was CNY 1,425,623,497.29, a significant increase of 58.14% from CNY 901,480,315.48 year-on-year[11]. - The net profit after deducting non-recurring gains and losses reached CNY 1,399,083,575.89, up 61.55% from CNY 866,055,957.00 in the previous year[11]. - The net cash flow from operating activities surged to CNY 3,778,009,634.26, marking a 323.78% increase compared to CNY 891,493,227.50 in the same period last year[11]. - Basic earnings per share rose to CNY 0.22, reflecting a growth of 57.14% from CNY 0.14[11]. - The company reported a total profit of CNY 2,050,235,211.48 for the first half of 2024, compared to CNY 1,284,148,810.21 in the first half of 2023, marking an increase of about 59.8%[148]. - The financial expenses for the first half of 2024 amounted to CNY 512,932,065.06, which is an increase from CNY 397,476,132.46 in the same period of 2023, representing a rise of approximately 29%[147]. Revenue Sources - The company's hydropower generation reached 6.930 billion kWh, a year-on-year increase of 67.18%[22]. - Hydropower revenue increased by 61.73% to ¥2,628,289,365.80, accounting for 26.76% of total revenue[36]. - Thermal power revenue rose by 17.41% to ¥4,568,045,191.06, representing 46.51% of total revenue[36]. - The company's controllable installed capacity for renewable energy projects reached 5.04 million kW, with renewable energy generation of 2.801 billion kWh, a year-on-year increase of 22.90%[28]. - The company achieved a total electricity sales volume of 20.071 billion kWh in the first half of 2024, representing a year-on-year increase of 30.57%[27]. Asset and Equity Changes - Total assets at the end of the reporting period were CNY 95,552,802,675.04, an increase of 4.67% from CNY 91,290,338,313.36 at the end of the previous year[11]. - The net assets attributable to shareholders reached CNY 33,257,623,949.41, up 3.17% from CNY 32,237,212,005.36[11]. - The total equity attributable to the parent company at the end of the current period is CNY 32,237,212,005.36, a decrease from CNY 32,688,771,076.34 at the end of the previous period[158]. - The total owner's equity increased to CNY 39.77 billion from CNY 38.49 billion, reflecting a growth of approximately 3.3%[142]. Investment and Capital Expenditure - The total investment during the reporting period was CNY 3.63 billion, a decrease of 2.67% compared to CNY 3.73 billion in the same period last year[44]. - The company has a total of CNY 2.10 billion in investments in various renewable energy projects, including solar power stations[47]. - The company invested CNY 145.83 million in the Jiangling Phase II thermal power expansion project, with a cumulative investment of CNY 173.21 million[44]. Environmental and Safety Compliance - The company adheres to various environmental protection laws and standards, including the Air Pollution Prevention and Control Law and the Water Pollution Prevention and Control Law[68]. - The company achieved ultra-low emissions across all coal-fired power plants, with nitrogen oxide emission limits reduced from 100 mg/Nm3 to 50 mg/Nm3 for the upgraded units[72]. - The company invested 99.49 million yuan in environmental governance and protection from January to June 2024[72]. - All four thermal power enterprises under the company have obtained pollution discharge permits and have complied with discharge requirements during the reporting period[68]. Shareholder Engagement and Governance - The company held several shareholder meetings in 2024, with participation rates of 58.50%, 73.70%, and 77.06% for different meetings, indicating strong investor engagement[61]. - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from capital reserves for the first half of 2024[64]. - The company has approved the repurchase and cancellation of a total of 19,780,564 restricted shares due to the disqualification of certain incentive targets[65]. - The company announced a three-year shareholder return plan (2024-2026) to enhance sustainable and stable profit distribution policies[107]. Legal and Regulatory Matters - The company reported a total of 4,059.24 million CNY in ongoing litigation cases from previous years, with 11 cases still unresolved[85]. - As of the end of the reporting period, the company had 8 new ongoing litigation cases with a total amount involved of 5,161.76 million CNY[85]. - There were no significant related party transactions during the reporting period[87]. - The company did not experience any penalties or rectification issues during the reporting period[86]. Financial Management and Debt - The company reported a loan amount of 1.267 billion yuan with an interest rate range of 3%-6%[91]. - The company has a total credit limit of 2 billion yuan with the financial company, with actual transactions amounting to 600,000 yuan[92]. - The company has signed a new financial service agreement with the financial company for a term of 3 years to enhance fund management[94]. - The debt-to-asset ratio was 58.37%, reflecting a 0.54% increase compared to the end of the previous year[138]. Market and Competitive Risks - The company faces risks related to declining electricity prices in the new energy sector due to increased market competition and will enhance its market analysis and trading strategies to mitigate these risks[55]. - The average utilization hours of thermal power units in Hubei province decreased due to increased hydropower and new energy output, impacting the profitability of thermal power operations[56]. - The company is actively managing risks associated with unstable water inflow in the Qingjiang River basin by optimizing water resource management and enhancing operational efficiency[57]. Strategic Focus and Community Engagement - The company is actively engaged in community support projects, including a 10 million yuan educational assistance program[76]. - The company plans to undertake 20 rural revitalization projects in 2024 to improve infrastructure and increase investment in public welfare[75]. - The company is focused on enhancing infrastructure, with multiple projects aimed at improving local roads and water supply systems[76].