皖能电力(000543)：2Q25归母净利增速转正 毛利率环比修复

Group 1 - The company reported a revenue of 13.185 billion yuan in 1H2025, a year-on-year decrease of 5.83%, while the net profit attributable to shareholders was 1.082 billion yuan, a slight increase of 1.05% [1] - In 2Q2025, the company achieved a revenue of 6.766 billion yuan, down 3.57% year-on-year, but the net profit attributable to shareholders increased by 3.26% to 638 million yuan [2] - The decline in revenue is attributed to a 7.9% decrease in power generation from thermal power in Anhui province and a reduction in electricity prices [1][2] Group 2 - The company is accelerating its energy transition by increasing its renewable energy capacity, with 1.5 million kilowatts under construction and 523,000 kilowatts of renewable energy indicators acquired [3] - The company aims to have its large-scale photovoltaic project in Xinjiang and a wind power project in Suzhou fully connected to the grid by the end of 2025 [3] - Revenue projections for 2025-2027 are estimated at 32.086 billion, 30.722 billion, and 30.287 billion yuan, with net profits of 2.175 billion, 2.337 billion, and 2.436 billion yuan respectively [3]