研报掘金丨中银证券：维持宝丰能源“买入”评级，看好内蒙项目投产业绩带来增量

Core Viewpoint - Baofeng Energy reported a net profit attributable to shareholders of 5.718 billion yuan in the first half of the year, representing a year-on-year increase of 73.02% [1] Financial Performance - In Q2, the net profit attributable to shareholders reached 3.281 billion yuan, showing a year-on-year growth of 74.17% and a quarter-on-quarter increase of 34.64% [1] - The significant increase in management and financial expenses is primarily due to the commissioning of new projects and a reduction in capitalized expenses [1] Project Developments - The company is optimistic about the incremental performance brought by the commissioning of the Inner Mongolia project and maintains a "buy" rating [1] - The sale of a 40% stake in the joint venture Ningxia Hongdunzi Coal Industry generated an investment income of 445 million yuan [1] - The Ningdong Phase IV Olefin Project is scheduled to commence construction in April 2025, with completion expected by the end of 2026 [1] - Preliminary work on the Xinjiang Olefin Project and the Inner Mongolia Phase II Olefin Project is actively progressing [1]