IMDTECL(SZ:002128) Zheng Quan Shi Bao Wang·2025-11-15 00:14Core Viewpoint - Electric Power Investment Energy (002128.SZ) plans to acquire 100% equity of Baiyinhu Coal Power from State Power Investment Corporation Inner Mongolia through a combination of share issuance and cash payment, with a transaction value of 11.149 billion yuan [2] Group 1: Company Overview - Electric Power Investment Energy was established in 2001 and serves as an important investment and development platform for State Power Investment Corporation in Inner Mongolia [2] - The company has evolved from coal production and sales to a comprehensive clean energy enterprise focusing on coal, coal-electricity-aluminum integration, and clean energy [2] - As of November 14, the company's stock price reached a historical high of 28.98 yuan, with a market capitalization of 64.176 billion yuan, reflecting a year-to-date increase of 52.45% [2] Group 2: Financial Performance - For the third quarter of 2025, the company reported revenue of 22.4 billion yuan, a year-on-year increase of 2.7%, while net profit attributable to shareholders decreased by 6.4% to 4.1 billion yuan [2] Group 3: Acquisition Details - The acquisition of Baiyinhu Coal Power, which has an annual lignite production capacity of 15 million tons and an electrolytic aluminum capacity of 405,000 tons, is expected to enhance the company's capacity in core businesses [4] - Baiyinhu Coal Power is projected to achieve revenue of 11.402 billion yuan and a net profit of 1.396 billion yuan in 2024 [4] - The acquisition is anticipated to strengthen the company's leading position in the regional industry and open up broader long-term development opportunities [4] Group 4: Market Dynamics - Baiyinhu Coal Power primarily sells coal products to coal-fired enterprises in Inner Mongolia, Jilin, and Liaoning, and its aluminum products are sold to nearby processing companies [3] - The coal market in Northeast China is showing strong resilience due to the ongoing elimination of outdated production capacity, with the average price of 3200 kcal lignite in the region at 282 yuan/ton, only a slight decline of 3.6% compared to 2024 [3] - The company benefits from a high proportion of long-term contracts in its coal sales structure, which supports stable performance in its coal segment [3]