乐山电力：上半年扣非净利润增长66.35% 积极拓展新兴业务

Core Insights - Leshan Electric Power reported a revenue of 1.623 billion yuan for the first half of 2025, representing a year-on-year growth of 1.94% [1] - The net profit attributable to shareholders was 7.9031 million yuan, with a non-recurring net profit of 6.27 million yuan, showing a significant increase of 66.35% year-on-year [1] Traditional Business Performance - The company achieved a power generation of 24,575 million kWh and a sales volume of 228,743 million kWh during the reporting period [1] - Gas sales reached 9,190 million cubic meters, while water sales amounted to 3,084 million cubic meters, indicating stable performance across various business segments [1] Emerging Business Developments - The company successfully launched the 100MW/200MWh electrochemical energy storage project in Longquanyi District in July 2025, which is now undergoing network testing before commercial operation [2] - The company’s subsidiary, LeDian New Energy, won a bid for a 100MW/200MWh independent energy storage project in Chengdu, with a total of 8 user-side projects and 4 district-side projects currently in operation [2] - A "solar charging integration" demonstration project was completed in May 2025, featuring a total photovoltaic area of 1,469 square meters and an installed capacity of 205.7 kW, expected to generate approximately 160,000 kWh annually [2] Virtual Power Plant and Financial Adjustments - Leshan Electric Power's virtual power plant was integrated into the new load management system in June 2025, becoming the first in Leshan and one of the first in the province [3] - The platform has successfully aggregated a capacity of 526,200 kVA and an adjustable capacity of 142,500 kW from various entities [3] - The company plans to use surplus reserves and capital reserves to offset accumulated losses due to historical bankruptcies of subsidiaries, aiming to improve financial conditions and enhance investor returns [3]