Huaihe Energy(SH:600575) Zheng Quan Zhi Xing·2025-07-01 16:30Core Points - The article outlines the investment management measures of Huaihe Energy Group, emphasizing the need to strengthen investment management, standardize procedures, and enhance work quality to prevent investment risks and ensure returns [1][2]. Investment Principles - Investments must comply with national laws, local economic layouts, and industry policies [1]. - Investments should align with land spatial planning and adhere to ecological protection standards [1]. - Focus on core business and optimize the upstream and downstream industrial chain while strictly controlling non-core investments [1]. - Investment scale should match the company's asset size, debt level, financing capacity, and management ability [1]. - There should be reasonable expected returns on investments, meeting economic evaluation criteria [1]. - All investment projects must follow a comprehensive management process, prohibiting arbitrary decisions and blind project initiation [1]. Negative List Management - The company implements a negative list management system for investment projects, categorizing them into prohibited, specially regulated, and restricted types [2]. Responsibilities and Decision-Making - The Planning and Engineering Department is responsible for overseeing investment management and guiding fixed asset and equity investments [6]. - The company employs a centralized control and unified decision-making approach for equity investments, while fixed asset investments follow a graded control and decision-making process [7]. - Specific thresholds for decision-making are established based on asset totals, net asset percentages, and profit contributions [8][9]. Annual Investment Planning - The company mandates annual investment planning, prohibiting unplanned investments [10]. - Investment plans must meet safety, production, operational, and developmental needs, with a focus on sustainable development and addressing major safety hazards [11]. Project Preparation and Feasibility Studies - Investment projects require thorough preliminary work, including opportunity research and feasibility studies, to ensure alignment with the company's strategic goals [20][21]. - Feasibility studies must adhere to national and local regulations, ensuring compliance with industry standards and project viability [16][17]. Risk Management - The company has established a risk management framework to address potential investment risks, including project termination under certain adverse conditions [33][34]. - A reporting system for significant investment matters is in place to ensure timely communication of any major changes or risks [25][26].