电建新能主板IPO获受理：新能源国家队冲刺90亿募资，加速构建清洁能源帝国

Core Viewpoint - China Electric Power Construction New Energy Group Co., Ltd. (referred to as "Electric Power New Energy") has received acceptance for its main board IPO application, which, if successful, will provide a key target for global capital in China's "dual carbon" strategy [1] Industry Position - As of March 2025, Electric Power New Energy's installed capacity reached 21.2461 million kilowatts, accounting for 1.43% of the national market share, ranking among the industry leaders [2] - The company has 9.8909 million kilowatts of wind power installed capacity, with a market share of 1.85%, and 11.3552 million kilowatts of solar power installed capacity, with a market share of 1.20% [2] - The company's assets cover 28 provinces (autonomous regions and municipalities) in China, with a focus on large wind and solar bases in the "Three North" regions and distributed energy projects in load centers like the Yangtze River Delta and Pearl River Delta, forming a "base + distributed" network [2] Financial Profile - Electric Power New Energy's revenue for 2022, 2023, and 2024 was 8.382 billion, 8.728 billion, and 9.810 billion yuan respectively, with a compound annual growth rate of 8.2% [3] - The net profit attributable to the parent company increased from 1.768 billion yuan to 2.589 billion yuan [3] - In the first half of 2025, the company achieved revenue of 5.472 billion yuan and a net profit of 1.127 billion yuan [3] - The company's receivables from renewable energy subsidies have been rising, reaching 10.8 billion yuan as of March 2025, accounting for over 50% of current assets [3] Fundraising Purpose - Electric Power New Energy plans to raise 9 billion yuan, focusing on four strategic areas: 1. Large clean energy base projects, emphasizing the construction of large-scale wind and solar projects 2. Green ecological civilization projects, implementing eco-friendly initiatives such as agricultural-solar, pastoral-solar, and fishery-solar complementary projects 3. Local load center projects, constructing supporting renewable energy power stations in concentrated power load areas 4. Industrial integration development projects, collaborating with local governments to enhance project efficiency through infrastructure development [4]