WTECL(SH:600157) Zheng Quan Shi Bao Wang·2025-04-28 15:12Core Viewpoint - Yongtai Energy is solidifying its coal and electricity business, showcasing strong operational performance and strategic project developments in the coal sector [1][2][3][4]. Group 1: Business Performance - The total installed capacity of Yongtai Energy's electricity generation reaches 9.18 million kilowatts, primarily located in Jiangsu and Henan, making it a key player in regional power supply [1]. - In 2024, the electricity business generated revenue of 18.406 billion yuan, a year-on-year increase of 10.14%, accounting for 64.91% of total revenue, with a gross margin of 14.42%, up by 3.74 percentage points [2]. - The company achieved a record electricity generation of 41.26 billion kilowatt-hours in 2024 [2]. - The coal business maintains stable production, with 13 out of 15 coal mines rated as "special grade safe and efficient mines" [2]. Group 2: Project Development - The Haizetang coal mine construction is progressing as planned, entering the second phase with all four shafts fully connected underground [3]. - The mine is expected to produce 3 million tons of coal in 2026 and reach full production of 10 million tons in 2027, significantly enhancing the company's competitive edge [3]. Group 3: Financial Strategy - Yongtai Energy has initiated a valuation enhancement plan to address its stock price being below net asset value, focusing on improving operational efficiency and accelerating key project developments [4]. - The company has implemented a share repurchase plan of 500 million to 1 billion yuan to support stock value recovery, with 293 million yuan spent on repurchases by April 10, 2025 [6]. - In 2024, the company reported total revenue of 28.357 billion yuan and a net profit of 1.561 billion yuan, despite a decline in coal product sales prices [5].