Group 1 - The company Qianyuan Electric Power announced a profit distribution plan for the first half of 2025, proposing a cash dividend of 1.00 yuan (including tax) for every 10 shares held [1] - The total share capital used as the basis for the distribution is 427,558,126 shares [1] - The record date for shareholders to receive the dividend is set for September 25, 2025, with the ex-dividend date on September 26, 2025 [1]

1.公司于2025年5月9日召开2024年度股东大会，审议通过了《关于2024年度 利润分配预案及2025年中期现金分红规划的议案》，授权董事会在公司满足现金 分红条件，且不影响公司正常经营和持续发展的情况下，结合未分配利润与当期 业绩等因素综合考虑，制定2025年具体的中期分红方案。 2.公司于2025年8月27日召开第十届董事会第二十六次会议、第十届监事会 第十五次会议，审议通过了《关于2025年半年度利润分配方案的议案》，具体方 案为：以2025年6月30日总股本427,558,126股为基数，向全体股东每10股派发现 金红利1.00元（含税），共计派发现金红利42,755,812.60元（含税），不送红 股，不以资本公积金转增股本。如权益分派股权登记日前公司股本发生变动的， 将按照分配总额不变的原则对分配比例进行调整。 3.自分配方案披露至实施期间，公司总股本未发生变化。 4.本次实施的利润分配方案符合2024年度股东大会授权要求，且与董事会审 议通过的分配方案一致。 证券代码：002039 证券简称：黔源电力 公告编号：2025-044 贵州黔源电力股份有限公司 2025 年半年度权益分派实施公告 ...

Core Viewpoint - Guizhou Qianyuan Power Co., Ltd. announced the implementation of the 2025 interim dividend distribution plan, which includes a cash dividend of 1 yuan per 10 shares for shareholders [1] Summary by Relevant Sections - **Dividend Distribution Details** - The total share capital as of June 30 is 427,558,126 shares, resulting in a total cash dividend payout of 42,755,812.6 yuan [1] - The dividend will be distributed without any stock bonus or capital increase [1] - **Key Dates** - The record date for shareholders is September 25, and the ex-dividend date is September 26 [1] - Cash dividends for A-share shareholders will be credited to their accounts on September 26 [1]

Group 1: Report Overview - Report research company: Qianyuan Power [16] - Industry: Power industry [2] - Research date: September 12, 2025 [16] Group 2: Research Details 1. Research Basic Information - Research object: Qianyuan Power [16] - Industry: Power industry [16] - Reception time: September 12, 2025 [16] - Reception personnel: Host, Yang Yan (Chairman), Dai Jianwei (General Manager), Jin Dong (Financial Officer), Wang Bo (Secretary of the Board), Wang Guan (Independent Director) [16] 2. Detailed Research Institutions - Reception object: All investors [19] - Reception object type: Others [19] - Reception method: Network remote [19] 3. Main Content - **Investment in photovoltaic power stations**: The company focuses on the "One Profit and Five Ratios" target, aiming to increase power generation, improve defect elimination efficiency, reduce light abandonment rate, and enhance project benefits [23] - **Financing cost**: The company's financing cost difference is related to debt term structure, financing timing, and funds usage. Measures are being taken to reduce costs, and new financing rates decreased significantly in 2024 [23] - **Employee salary**: The company's salary level is determined by considering business structure, industry attributes, and regional development [25] - **Hydropower station dispatch and power generation**: Information on the third - quarter production and operation will be disclosed in the 2025 Q3 report [25]

Group 1: Financial Performance - The company's financing interest rate has decreased from over 5% to around 3%, indicating a positive trend in cost reduction [3] - However, the company's current financing rate is significantly higher than industry peers, with a 2024 rate projected to be above 3.5%, compared to competitors' rates below 3% [3] - The company is implementing measures such as debt replacement and optimizing financing terms to reduce costs and improve funding efficiency [3] Group 2: Operational Efficiency - The company focuses on the "one benefit, five rates" strategy to enhance project efficiency by increasing electricity generation and reducing abandonment rates [3] - The production and operational information for Q3 will be disclosed in the company's Q3 2025 report [4] Group 3: Employee Compensation - Employee salaries have been consistently rising, surpassing the growth rate of the broader society; the company considers various factors in determining compensation levels [3]

Group 1 - The core point of the article is that Qianyuan Power has experienced a continuous decline in the number of shareholders for three consecutive periods, with a notable decrease of 1,426 shareholders, representing an 8.13% drop from the previous period [2] - As of September 10, the number of shareholders for Qianyuan Power is 16,112, indicating a trend of decreasing shareholder engagement [2] - The company's stock price closed at 16.58 yuan, reflecting a slight decrease of 0.06%, while the stock has seen a cumulative increase of 3.43% since the concentration of shares began [2] Group 2 - In the first half of the year, Qianyuan Power reported total operating revenue of 883 million yuan, which is a year-on-year increase of 1.23% [2] - The net profit for the same period was 127 million yuan, showing a year-on-year decline of 4.54% [2] - The basic earnings per share were reported at 0.2974 yuan, with a weighted average return on equity of 3.20% [2]

Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company's short-term performance is under pressure due to reduced water inflow, but the major shareholder's increase in holdings reflects confidence in the company's future [5][7] - The company reported a revenue of 883 million yuan in the first half of 2025, a year-on-year increase of 1.23%, while the net profit attributable to shareholders decreased by 4.54% [7] - The company has no approved projects under construction, and the water inflow in the first half of 2025 was 23% lower than the same period last year [7] Financial Performance Summary - Revenue forecast for 2023 is 1,990 million yuan, with a year-on-year decrease of 23.83%, and is expected to grow to 2,379 million yuan by 2025, reflecting a growth rate of 23.10% [6][8] - The net profit attributable to shareholders is projected to be 265 million yuan in 2023, decreasing by 36.09%, and expected to rise to 401 million yuan by 2025, with a growth rate of 83.77% [6][8] - The earnings per share (EPS) is forecasted to be 0.62 yuan in 2023, increasing to 0.94 yuan by 2025 [6][8] Market and Operational Insights - The company operates under the Guizhou region's clean energy platform, with a total installed capacity of 4.14 million kilowatts, including 3.23 million kilowatts from hydropower [7] - The major shareholder, China Huadian, plans to increase its stake in the company, indicating strong support for its future development [7] - The company has a stable cash flow, with an average distributable cash flow of 750 million yuan over the past five years, suggesting potential for increased dividends [7]

Group 1 - The company, Guizhou Qianyuan Power Co., Ltd., will hold a 2025 semi-annual performance briefing on September 12, 2025, from 15:00 to 17:00 [1][3] - The performance briefing will be conducted online through the "Interactive Easy" platform provided by the Shenzhen Stock Exchange, allowing investors to participate remotely [1] - Key personnel attending the briefing include the Chairman, General Manager, Financial Officer, Board Secretary, and an Independent Director [1] Group 2 - The company is inviting investors to submit questions in advance for the semi-annual performance briefing, aiming to enhance communication and address investor concerns [2] - Investors can submit their questions by logging into the "Interactive Easy" platform and selecting the "Pre-collection of Questions" option [2]

Group 1 - The company Qianyuan Power announced that it will hold a semi-annual performance briefing on September 12, 2025, from 15:00 to 17:00 [2]

Core Viewpoint - Guizhou Qianyuan Power Co., Ltd. will hold an online performance briefing for the first half of 2025, allowing investors to participate and ask questions in advance [1][2] Group 1: Company Announcement - The company has disclosed its 2025 half-year report on August 28, 2025, on the Giant Tide Information Network [1] - The online performance briefing will be conducted via the "Interactive Easy" platform provided by the Shenzhen Stock Exchange [1] - Key personnel attending the briefing include the Chairman, General Manager, Financial Officer, Board Secretary, and an Independent Director [1] Group 2: Investor Engagement - The company is actively soliciting questions from investors prior to the briefing to enhance communication and address investor concerns [1] - Investors can submit their questions through the "Interactive Easy" platform by entering the company's stock code or name [1]