国家电投再度整合，400亿煤电央企筹划资产重组

Core Viewpoint - The State Power Investment Corporation (SPIC) is consolidating its coal power assets by acquiring 100% equity of Inner Mongolia Baiyinhu Coal Power Co., Ltd. through its listed subsidiary, Power Investment Energy [1][2]. Group 1: Company Overview - Power Investment Energy, formerly known as Open-pit Coal Industry, is the largest coal enterprise in Eastern Mongolia and Northeast China, with a market capitalization of 40 billion yuan as of April 30 [1]. - The company has a coal production capacity of 48 million tons and operates a 600MW power generation unit that is a key peak-shaving unit in the Northeast power grid [1][2]. Group 2: Acquisition Details - Baiyinhu Coal Power, established in 2003, has a registered capital of 3.862 billion yuan and is fully owned by SPIC [2]. - Baiyinhu Coal Power's core asset is the Baiyinhu No. 2 mine, with an annual coal production capacity of 15 million tons, primarily supplying coal to Northeast China [2]. Group 3: Strategic Implications - The acquisition is expected to expand Power Investment Energy's business scale and align with its strategy of balanced growth, focusing on clean energy transition and intelligent coal mining [3][4]. - The company aims to develop a circular economy model integrating coal, electricity, and aluminum production, similar to its existing operations at the Hohhot River site [4]. Group 4: Industry Context - SPIC's coal production capacity is concentrated in Eastern Mongolia, totaling 86.3 million tons as of the end of 2023, with significant assets in the Hohhot River and Baiyinhu coalfields [5]. - The restructuring efforts are part of SPIC's broader strategy to optimize resource allocation and enhance its position in the energy sector, potentially leading to a more integrated energy group with diverse power generation capabilities [7].