ZZEPC(SH:600023) Xin Lang Cai Jing·2025-10-31 16:43Core Viewpoint - Zhejiang Energy Power is a state-owned large listed company in Zhejiang Province, primarily engaged in thermal power generation, with a complete power industry chain [1] Financial Performance - In Q3 2025, Zhejiang Energy Power achieved a revenue of 58.814 billion yuan, ranking 5th among 28 companies in the industry, while the industry leader, Huaneng International, reported 172.975 billion yuan [2] - The net profit for the same period was 7.034 billion yuan, also ranking 5th, with Huaneng International leading at 19.436 billion yuan [2] Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 43.93%, lower than the industry average of 61.62%, indicating lower debt pressure [3] - The gross profit margin was 13.03%, which is below the industry average of 18.24%, suggesting room for improvement in profitability [3] Management and Shareholder Information - The chairman, Liu Weimin, received a salary of 973,000 yuan in 2024, an increase of 111,700 yuan from the previous year [4] - As of September 30, 2025, the number of A-share shareholders increased by 10.58% to 155,000, while the average number of shares held per shareholder decreased by 9.56% [5] Business Highlights - The company reported a total revenue of 58.814 billion yuan and a net profit of 6.230 billion yuan for the first three quarters of 2025, meeting expectations [5] - Key business highlights include increased electricity consumption in Zhejiang, new unit production, and a focus on shareholder returns with a high dividend yield [5] - In Q3 2025, the company achieved a revenue of 23.342 billion yuan and a net profit of 2.718 billion yuan, with net profit per kilowatt-hour increasing to 0.048 yuan [6]