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华能水电拟募58亿加码水电站 2024年分红36亿占净利43.4%

Core Viewpoint - Huaneng Hydropower plans to raise up to 58.25 billion yuan through a private placement to fund the construction of two hydropower projects, RM and TB hydropower stations, contributing to China's clean energy goals and regional energy supply security [2][3][4]. Fundraising and Project Details - The total amount to be raised is not more than 58.25 billion yuan, with net proceeds after issuance costs allocated to the RM and TB hydropower projects [2][3]. - RM hydropower station, located in Southwest China, has a total investment of approximately 584 billion yuan, with 43.25 billion yuan from the fundraising [3][4]. - TB hydropower station, the fourth cascade on the upper reaches of the Lancang River, has a total investment of about 200 billion yuan, with 15 billion yuan from the fundraising [4][5]. Strategic Importance - The RM hydropower station will primarily supply electricity to the Guangdong-Hong Kong-Macao Greater Bay Area, enhancing energy supply security and promoting a low-carbon energy structure in China [4][5]. - The development of the TB hydropower station aligns with the goals of "West-to-East Power Transmission" and "Cloud Power Transmission to Guangdong," supporting sustainable economic development [5]. Financial Performance - In 2024, Huaneng Hydropower reported operating revenue of 24.882 billion yuan, a year-on-year increase of 6.05%, and a net profit of 8.297 billion yuan, up 8.63% [8][10]. - The company achieved a significant increase in power generation, with a total of 1,120.12 billion kilowatt-hours, reflecting a 4.62% year-on-year growth [8]. - The financial structure has been optimized, with a 2.04% reduction in financial expenses, contributing to the increase in net profit [8]. Dividend Distribution - For the fiscal year 2024, Huaneng Hydropower plans to distribute a total cash dividend of 3.6 billion yuan, representing 43.39% of the net profit attributable to shareholders [2][10]. - The company has a history of consistent dividend payments, with a total of 223.64 billion yuan distributed since its listing [11].