Shenzhen Energy(SZ:000027) Chang Jiang Shang Bao·2025-07-27 23:51Core Viewpoint - Shenzhen Energy, a major energy player with over 100 billion in assets, is intensifying its focus on its core business and promoting green low-carbon industry development through significant investments in renewable energy projects [2][5]. Investment and Project Development - Shenzhen Energy announced plans to invest approximately 7.897 billion in the Honghaiwan VI offshore wind power project, which will enhance the company's energy business portfolio and support Shenzhen's goal of creating a world-class green low-carbon industrial cluster [2][5]. - The company also plans to invest 6.332 billion in the Ma Wan Power Plant upgrade project to alleviate power supply pressure in western Shenzhen [2][6]. - The Honghaiwan VI project will have a planned capacity of 500 MW, featuring 36 wind turbines and a storage configuration of 50 MW/100 MWh [5]. Financial Performance - Shenzhen Energy has demonstrated strong profitability, with a net profit exceeding 2 billion for four consecutive years, and a net profit of 1.352 billion in Q1 2025, reflecting a year-on-year growth of approximately 22% [2][10]. - Cumulatively, the company has earned around 37.7 billion since its listing, distributing approximately 12.5 billion in dividends [3][11]. Business Diversification - The company has established a diversified business model, focusing on low-carbon power, ecological protection, integrated gas, and smart services, creating a "four-core" business structure [7]. - As of the end of 2024, clean energy accounted for 74.63% of the company's installed capacity, showcasing significant progress in its transformation efforts [7]. Strategic Partnerships and Collaborations - Shenzhen Energy has attracted strategic investors to its environmental subsidiary, raising 5 billion to enhance its operational capabilities in solid waste treatment [8][9]. - The company operates 42 waste incineration power plants across the country, with a daily waste processing capacity exceeding 50,000 tons, positioning it as a leader in the industry [9]. Asset Management - As of Q1 2025, Shenzhen Energy reported total assets of 172.435 billion, with a debt-to-asset ratio of 62.52%, maintaining stability around 60% [12].