QYDL(SZ:002039) Chang Jiang Shang Bao·2025-10-12 23:31Core Viewpoint - Qianyuan Power (002039.SZ) is expected to achieve a net profit of 4.51 billion to 5.31 billion yuan in the first three quarters of 2025, representing a growth of 70% to 100% compared to the same period last year [1][2] Group 1: Financial Performance - In the first half of 2025, Qianyuan Power reported a net profit of 1.27 billion yuan, a decrease of 4.54% year-on-year [4] - The company achieved a net profit of 3.24 billion to 4.04 billion yuan in the third quarter, marking a year-on-year increase of 145% to 206% compared to 1.32 billion yuan in the same quarter last year [4][3] - The total revenue for the first half of 2025 was 8.83 billion yuan, reflecting a year-on-year growth of 1.23% [4] Group 2: Operational Highlights - Qianyuan Power experienced a 23.6% increase in water inflow compared to the previous year, contributing to a 50.09% rise in electricity generation [2] - The total electricity generation for the first three quarters of 2025 was 792,386.65 million kWh, up from 527,951.78 million kWh in the same period last year [2] Group 3: Company Background - Qianyuan Power is the only publicly listed power company in Guizhou Province and is one of six listed companies controlled by China Huadian Corporation [2] - The company primarily focuses on the development, construction, and management of hydropower stations [2] - As of the reporting period, Qianyuan Power had a total installed capacity of 4.1385 million kW, including 3.2335 million kW from hydropower and 0.905 million kW from photovoltaic power [2]