Group 1: Company Overview - The main business of Guangdong Water and Electricity Second Bureau Co., Ltd. includes hydraulic and hydropower engineering, as well as subway shield tunneling projects [2] - In 2013, the company undertook 76 projects with a total contract amount exceeding 9.17 billion yuan, representing a year-on-year growth of 181% [3] Group 2: Profitability and Market Position - The decline in gross profit margin for engineering construction is attributed to intense market competition and rising labor costs [3] - The company aims to increase its market share and improve gross profit margins by enhancing project management and reducing construction costs [3] Group 3: Subway Shield Tunneling Business - The company operates 16 shield machines and possesses advanced tunneling technology and rich experience in subway construction [3] - The business is expanding in regions such as Guangdong, Jiangxi, and Jiangsu, with a focus on securing more orders as the national government promotes urban rail transit construction [3] Group 4: Clean Energy Projects - The company has advantages in developing clean energy projects, including cost savings through optimized construction and good credit ratings leading to lower financing costs [5] - Funding for clean energy projects comes from self-accumulated funds and loans from financial institutions [5] - The operational personnel for clean energy projects are primarily trained internally, with some specialized talent being recruited [5] Group 5: Project Status and Future Plans - Unstarted clean energy projects are currently undergoing feasibility studies and preliminary preparations [7] - The annual utilization hours for clean energy projects vary by region, with wind power in Xinjiang around 2,500 hours and photovoltaic projects in Gansu between 1,300-1,400 hours [7] - The company has no current plans for refinancing or stock incentive programs [8]

Group 1: Company Development Strategy - The company adheres to a "construction + industrial investment + capital operation" model, focusing on strengthening its core businesses in hydropower, subway shield tunneling, and expanding clean energy generation in hydropower, wind, and solar sectors [3] - The company owns 16 shield machines and possesses advanced technology and rich experience in subway shield construction, with operations in Guangdong, Jiangxi, and Jiangsu [3] Group 2: Clean Energy Projects - The company has advantages in clean energy project development, including self-construction, cost savings through optimization, high-quality engineering, and low financing costs due to good credit [3] - Key areas for clean energy generation projects are located in Xinjiang [5] - All developed clean energy projects have completed the necessary approval processes and are capable of grid connection [5] Group 3: Project Progress and Financing - Ongoing clean energy projects include the Xinjiang Muli Laojun Temple Wind Farm and Daban City Wind Farm, with several other projects in the preparatory stage across various regions [5] - The company currently has no refinancing plans or equity incentive plans [5]

Group 1: Company Overview - The main business of Guangdong Water and Electricity Second Bureau Co., Ltd. is steadily developing, focusing on major water conservancy projects and increasing market share in construction [2][3] - The company aims to strengthen its engineering construction business and reduce costs while enhancing profitability [3] Group 2: Financial Goals - The company plans to achieve a total revenue growth of 13.19% and a net profit growth of 11.75% in 2016 [3] Group 3: Key Projects - The North River Navigation Capacity Upgrade Project spans 258 kilometers and includes the construction of 7 locks, with a total investment of approximately 7.325 billion yuan [3] - The project funding consists of 870 million yuan from the investment construction entity and the remainder from government contributions [3] Group 4: Market Challenges - The low gross profit margin in construction is attributed to intense market competition and rising labor costs, alongside the impact of the "VAT reform" policy [5] - The implementation of the policy has led to a decline in gross profit margins for various projects [5] Group 5: Clean Energy Initiatives - The company is actively developing clean energy projects, focusing on hydropower, wind power, and biomass energy generation [7] - As of now, the total installed capacity for hydropower, wind power, and photovoltaic projects is 560,500 kW, with hydropower at 213,000 kW, wind power at 297,500 kW, and photovoltaic power at 50,000 kW [7]

Group 1: Company Development Strategy - The company adheres to a "construction + industrial investment + capital operation" model, focusing on hydropower, rail transit, and PPP projects [2] - The 2016 operational targets include a revenue growth of 13.19% and a net profit growth of 11.75% [4] Group 2: Project Progress - The North River channel expansion project has a contract amount of CNY 1,604.71 million and is currently under construction [4] - The Han River high dam water conservancy project has a total investment of CNY 6.15 billion, with a financing amount of CNY 1,956 million and a total construction contract amount of CNY 2,911.82 million, also under construction [4] Group 3: Clean Energy Development - Key areas for clean energy generation include Xinjiang, with ongoing exploration of wind, solar, and biomass energy projects [4] - The total installed capacity for clean energy is 655,500 kW, comprising 213,000 kW from hydropower, 297,500 kW from wind power, and 145,000 kW from solar power [5] Group 4: Biomass Energy Projects - The company is preparing for investment in biomass energy projects in Hubei, Henan, and Heilongjiang provinces [5] Group 5: Heating Project - The company is developing a clean heating project with a heating area of 200,000 square meters, utilizing wind power to increase generation and revenue [5]

Group 1: Business Overview - The company's main business includes engineering construction and clean energy generation (hydropower, wind, and solar) [2] - In engineering construction, the company focuses on major water conservancy projects and aims to increase market share and reduce costs [3] - The company has acquired 60% of the shares in Foshan Design Institute to strengthen its engineering construction business [3] Group 2: Clean Energy Projects - The total installed capacity for hydropower, wind, and solar projects is 688,500 kW, with hydropower at 213,000 kW, wind power at 325,500 kW, and solar power at 150,000 kW [4] - The company is developing biomass power generation projects across multiple provinces, including Hubei, Henan, Heilongjiang, and Liaoning [4] Group 3: PPP Projects - The company is involved in several PPP projects, including the North River Channel Expansion and Upgrade Project and the Guangdong Hanjiang High Dam Water Conservancy Hub Project [5] - The company has a competitive advantage in rail transit construction due to its advanced technology and experience [5] Group 4: Financial Management - The company emphasizes the management of accounts receivable and has established a risk management mechanism to reduce outstanding receivables [6] - Currently, there are no refinancing plans in place [6]

Group 1: Company Business Development - The company focuses on the construction of water conservancy and hydropower, rail transit, and PPP projects, while actively developing clean energy generation from hydropower, wind, and solar sources [2] - The total installed capacity of the company's power generation is 668,500 kW, including hydropower (213,000 kW), wind power (305,500 kW), and solar power (150,000 kW); there is an additional 50,000 kW of solar projects that have not yet been put into operation [3] Group 2: Major Shareholder Operations - The main business operations of the company's controlling shareholder include real estate development and healthcare [3] Group 3: Financing and Employee Stock Plans - The company currently has no plans for refinancing [3] - The company currently has no employee stock ownership plan [3]

Group 1: Company Overview - The main business of the company includes engineering construction and clean energy generation (hydropower, wind, and photovoltaic) [1] - The company is focusing on key engineering projects such as "Hanjiang Gao Po," "Beijiang Navigation," and "Guangzhou Rail Transit" [1][2] Group 2: Competitive Advantages - The company possesses advanced construction technology and has 18 shield machines for rail transit projects, enhancing its competitive edge [2] - It has obtained various qualifications, including special-grade qualifications for hydropower engineering construction and first-class qualifications for multiple engineering sectors [2] Group 3: Project Portfolio - The company is involved in several PPP projects, including the Hanjiang Gao Po Water Hub and various municipal infrastructure projects in Huizhou and Heyuan [4] - The company has a robust pipeline of projects, with a total remaining construction amount of approximately 34.6 billion yuan as of September 30, 2019 [6] Group 4: Clean Energy Production - As of October 23, 2019, the company has a total installed capacity of 1202.33 MW for hydropower, wind, and photovoltaic projects, with hydropower contributing 213 MW, wind power 563 MW, and photovoltaic 426.33 MW [6] Group 5: Financial Performance - The company's revenue has seen rapid year-on-year growth due to new construction projects and increased income from ongoing projects during peak construction periods [6] - There are currently no employee stock ownership or equity incentive plans in place [6]

Group 1: Company Overview - The main business of Guangdong Water and Electricity Second Bureau Co., Ltd. includes engineering construction and clean energy (hydropower, wind power, photovoltaic) generation [2] - The company is focusing on key engineering projects such as "Hanjiang Gaoqi," "Beijiang Navigation," "Mile Urban Rail," and "Reclamation of Rice Fields" to enhance its market share and expand its construction business scale [3] Group 2: Clean Energy Strategy - The company aims to seize opportunities in the clean energy market, particularly in economically developed areas along the southeast coast, to maximize resource acquisition and steadily advance clean energy project development [3] - The company is committed to improving the profit level of its clean energy generation business through effective operational management [3] Group 3: PPP Projects - Current PPP projects undertaken by the company include the Hanjiang Gaoqi Water Hub Project, municipal infrastructure in Huizhou, and the reconstruction of National Road 238 [3] - Additional projects include the integrated utilization of water resources at the Lancang River Xiaowan Hydropower Station and urban rail transit construction in Mile City [3] Group 4: Competitive Advantages - The company possesses 17 shield tunneling machines and has advanced technology and rich experience in rail transit construction, ensuring high-quality engineering [4] - The company holds several invention patents related to tunneling technology, which help address technical challenges in construction [4] Group 5: Legal Matters - The company won a first-instance judgment in a construction contract dispute related to the Henan Province Nanyang to Dengzhou Expressway project, with an appeal filed by the opposing parties [4] Group 6: Employee Stock Ownership - Currently, the company does not have an employee stock ownership plan [4]

Group 1: Company Overview - The main business of the company includes hydropower, water conservancy, rail transit engineering construction, and clean energy generation from hydropower, wind power, and solar photovoltaic sources [1] - The total installed capacity of clean energy generation currently in operation is 1,517.38 MW, comprising 238 MW from hydropower, 673 MW from wind power, and 606.38 MW from photovoltaic power [1][2] Group 2: Ongoing Projects - The company has ongoing clean energy projects, including the Hami Shisan Wind Power Project (50 MW) and a 150 MW integrated solar-storage project in Bachu County, Xinjiang [2] - The integrated solar-storage project has a construction scale of 22.5 MW/45 MWh and is currently under construction [2] Group 3: Business Operations - The company has qualifications and experience in constructing pumped storage power stations, having participated in several projects in Guangdong and Hainan [2] - The wind tower manufacturing business includes both onshore and offshore wind towers, with an annual production capacity of approximately 200,000 tons [2] Group 4: Financial Performance - In the first half of 2021, engineering construction revenue accounted for 80.76% of total operating revenue, while power generation revenue accounted for 12.45% [2] - The low gross profit margin in engineering construction is attributed to intense market competition, rising costs of materials and labor, and increased management standards [4] Group 5: Debt Management - The company plans to reduce its debt-to-asset ratio by improving project settlement processes, enhancing accounts receivable collection, and diversifying financing channels [4]

广东水电二局股份有限公司 2022 年第三季度报告 证券代码：002060 证券简称：粤 水 电 公告编号：定 2022-004 广东水电二局股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度报告是否经过审计 □是 否 1 广东水电二局股份有限公司 2022 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |------------------------------------------------------|-------------------|-------------------------|----- ...