归母净利润下滑近四成 国电电力仍计划豪气分红超12亿元，年度分红比例不低于60％

Core Viewpoint - The financial report of Guodian Power Development Co., Ltd. shows mixed results for the first half of the year, with a significant decline in net profit but an increase in non-recurring net profit due to previous asset transfers [2][4]. Financial Performance - The company achieved an operating revenue of 77.655 billion yuan, a year-on-year decrease of 9.52% [2]. - The net profit attributable to shareholders was 3.687 billion yuan, down 45.11% year-on-year [2][4]. - The non-recurring net profit reached 3.410 billion yuan, an increase of 56.12% year-on-year, attributed to lower comparative figures from the previous year [2]. Power Generation and Pricing - The average on-grid electricity price was 409.70 yuan per megawatt-hour, a decrease of 29.51 yuan per megawatt-hour compared to the previous year [3]. - Total power generation was 2,060.26 billion kilowatt-hours, down 3.61% year-on-year, with on-grid electricity down 3.53% [3]. - The company purchased 80.97 million tons of raw coal, with a significant portion being long-term contracted coal [3]. Segment Performance - The wind power segment saw an increase in generation, with wind power generation up 10.37% and solar power generation up 122.55% year-on-year [6]. - The fire power segment's profit decreased slightly from 1.995 billion yuan to 1.967 billion yuan, while the solar segment's profit increased from 431 million yuan to 591 million yuan [7]. Dividend Policy - The company plans to distribute a cash dividend of 0.10 yuan per share, amounting to approximately 1.784 billion yuan, which represents 48.38% of the net profit for the first half of the year [8]. - The company has set a high dividend payout ratio for the next three years, committing to distribute at least 60% of the net profit as cash dividends [9]. Stock Performance - As of August 20, the company's stock price was 4.77 yuan per share, with a total market capitalization of 85.1 billion yuan, reflecting a year-to-date increase of 6.56% [10].