GEPIC(SZ:000791) Chang Jiang Shang Bao·2025-08-18 00:19Core Viewpoint - Gansu Energy (000791.SZ) has reported strong financial performance for the first half of 2025, with significant growth in net profit and a robust asset base, driven by strategic acquisitions and a diversified energy portfolio [1][2][3]. Financial Performance - In the first half of 2025, Gansu Energy achieved revenue of 3.931 billion yuan, a year-on-year increase of 0.19%, and a net profit of 825 million yuan, up 16.87%. The non-recurring net profit reached 823 million yuan, soaring by 190.41% [1][2]. - The company reported a total asset growth of 77.1% year-on-year, reaching 36.66 billion yuan, marking a historical high [1][6]. Strategic Acquisitions - The acquisition of a 66% stake in Changle Company for 7.628 billion yuan in November 2024 has significantly contributed to Gansu Energy's performance, integrating a major thermal power project into its operations [3][4]. - Changle Company reported a net profit exceeding 1 billion yuan in the first half of 2025, becoming a key growth driver for Gansu Energy [4]. Energy Portfolio - Gansu Energy has established a diversified energy structure, including thermal, hydro, wind, and solar power, with a total installed capacity of 7.5397 million kilowatts as of mid-2025 [5][6]. - The company has actively engaged in market transactions, with 99.19% of its electricity sales coming from market trading, reflecting a strategic push towards long-term water power trading [2][5]. Future Outlook - Gansu Energy is focusing on expanding its renewable energy projects, including a significant 6 million kilowatt renewable energy project in the Tengger Desert, which is expected to enhance its green energy portfolio [5][6]. - The company is well-positioned to benefit from the dual carbon goals and the ongoing implementation of its multi-energy complementary strategy, which is anticipated to strengthen its market position [6].