银星能源:2025上半年净利润增长26.56%,新能源发电业务稳健增长

Core Viewpoint - Silver Star Energy (000862) reported a steady performance in its 2025 semi-annual report, driven by dual engines of new energy generation and equipment manufacturing, achieving a revenue of 652 million yuan, a year-on-year increase of 4.51%, and a net profit attributable to shareholders of 165 million yuan, a year-on-year increase of 26.56% [1] Financial Performance - The company's revenue from new energy generation was 638 million yuan, accounting for 97.82% of total revenue, with a year-on-year growth of 5.14% [1] - The net cash flow from operating activities was 193 million yuan, a slight decrease of 1.75% year-on-year, while cash outflow from investment activities was 207 million yuan, mainly for the Sun Mountain technology transformation and distributed photovoltaic projects [2] - As of the end of the reporting period, the company's cash and cash equivalents were 50.39 million yuan, a decrease of 23.54% from the beginning of the year, primarily used for repaying loans [2] Business Development - The company has a wind power installed capacity of 1.61 million kilowatts and a photovoltaic installed capacity of 390,000 kilowatts, with distributed photovoltaic capacity of 80,000 kilowatts [1] - The company is advancing the "large replaces small" project at the Sun Mountain wind farm, which has entered the trial operation phase, and the Longshantou project has been approved, expected to be connected to the grid within the year [1] - The company maintains an annual production capacity of 60,000 tons for tower manufacturing, covering a range of 500-800 kilometers in the northwest region, generating revenue of 7.9884 million yuan [1] Strategic Focus - The company plans to promote the "large replaces small" transformation project at the Helan Mountain wind farm and expedite the preliminary procedures for the Sun Mountain Phase III and IV projects [2] - The company emphasizes a green low-carbon development path, integrating deeply with the main business of the Aluminum Corporation of China, and actively laying out distributed photovoltaic and green electricity direct connection projects [2] - The company aims to enhance its brand influence and social credibility while fulfilling social responsibilities, contributing to rural revitalization and environmental beautification [2][3] Governance and Management - The company has adjusted some executive and supervisor positions and has decided to abolish the supervisory board, transferring its functions to the audit committee of the board of directors [2] - A "Market Value Management System" has been established to enhance corporate value and investor returns [2]