三峡水利(600116) - 2025 Q2 - 季度业绩预告

Important Content Alert The company anticipates a substantial year-on-year decrease in its 2025 semi-annual net profit attributable to shareholders and non-recurring net profit - The company expects a significant pre-reduction in its 2025 semi-annual performance, with net profit attributable to shareholders decreasing by over 77% year-on-year, and net profit excluding non-recurring items decreasing by over 81% year-on-year[1] Key Indicators of 2025 Semi-Annual Performance Forecast | Indicator | Estimated Amount (CNY 10,000) | Year-on-Year Decrease (CNY 10,000) | Year-on-Year Decrease (%) | | :------------------------------------------ | :------------------------------ | :---------------------------------- | :------------------------ | | Net Profit Attributable to Parent Company | 4,000 - 5,200 | 18,903.07 - 17,703.07 | 82.54 - 77.30 | | Net Profit Excluding Non-Recurring Items Attributable to Parent Company | 2,600 - 3,800 | 18,395.99 - 17,195.99 | 87.62 - 81.90 | Current Period Performance Forecast This section details the company's specific financial projections for the 2025 semi-annual period, indicating a substantial year-on-year decline Performance Forecast Period This performance forecast covers the semi-annual financial results from January 1 to June 30, 2025 - The performance forecast period is from January 1, 2025, to June 30, 2025[2] Specifics of Performance Forecast The company projects 2025 semi-annual net profit attributable to the parent company between CNY 40-52 million and non-recurring net profit between CNY 26-38 million Detailed Data of 2025 Semi-Annual Performance Forecast | Indicator | Estimated Amount (CNY 10,000) | Year-on-Year Decrease (CNY 10,000) | Year-on-Year Decrease (%) | | :------------------------------------------ | :------------------------------ | :---------------------------------- | :------------------------ | | Net Profit Attributable to Parent Company | 4,000 - 5,200 | 18,903.07 - 17,703.07 | 82.54 - 77.30 | | Net Profit Excluding Non-Recurring Items Attributable to Parent Company | 2,600 - 3,800 | 18,395.99 - 17,195.99 | 87.62 - 81.90 | - The above forecast data has not been audited by a certified public accountant[2] Prior Period Performance This section presents the company's key financial performance indicators for the corresponding period in the previous year, serving as a benchmark for comparison 2024 Semi-Annual Performance | Indicator | Amount (CNY 10,000) | | :------------------------------------------ | :------------------ | | Total Profit | 28,282.76 | | Net Profit Attributable to Parent Company | 22,903.07 | | Net Profit Excluding Non-Recurring Items Attributable to Parent Company | 20,995.99 | | Earnings Per Share (CNY/share) | 0.12 | Main Reasons for Performance Change in Current Period This section outlines the primary factors contributing to the significant changes in the company's financial performance during the current semi-annual period Impact of Power Business The power business saw a net profit decrease of approximately CNY 71 million, mainly due to reduced hydropower generation, despite improved power sales - Net profit from the power business decreased by approximately CNY 71 million year-on-year[4] Key Data Changes in Power Business | Indicator | Jan-Jun 2025 | Year-on-Year Change | Impact on Profit (CNY million) | | :------------------------------------------ | :----------- | :------------------ | :----------------------------- | | Self-generated Hydropower Grid-connected Electricity (100 million kWh) | 9.67 | -2.90 (-23.05%) | -96 | | Power Sales (100 million kWh) | 68.02 | +1.76 (+2.66%) | +19 | - Power sales reached a historical high for the same period, combined with a decrease in external power purchase costs, increasing profit by approximately CNY 19 million[4] Impact of Tax Arrears Payment Subsidiaries' payment of outstanding corporate income tax and late fees for Western Development incentives reduced current period profit by approximately CNY 47 million - Subsidiaries' payment of outstanding corporate income tax and late fees for Western Development incentives from 2021-2023 reduced profit by approximately CNY 47 million[4] Impact of Other Businesses Other business segments faced profit reductions from an associate's declining performance, decreased asset disposal gains, and delayed rural grid loan subsidies - The operating performance of associate Chongqing Tiantai Energy Group Co., Ltd. declined, leading to a year-on-year decrease in investment income of approximately CNY 21 million[5] - Gains from the disposal of assets, including power lines and BOE substations, decreased year-on-year, reducing profit by approximately CNY 18 million[5] - Rural grid loan subsidy funds have not yet been received, resulting in uncompensated depreciation and financial expenses, reducing profit by approximately CNY 15 million[5] Risk Warning This section highlights that there are no significant uncertainties affecting the accuracy of the performance forecast, though the data remains unaudited - The company has no significant uncertainties that would affect the accuracy of this performance forecast[6] - This performance forecast has not been audited by a certified public accountant[6] Other Explanatory Matters This section clarifies that the forecast data is preliminary and advises investors to exercise caution, awaiting the final official semi-annual report - The forecast data represents preliminary calculations, and the final financial data will be subject to the company's officially disclosed 2025 semi-annual report[7] - Investors are advised to exercise caution regarding investment risks[7]