湖北能源：加快培育新质生产力 迈向综合能源供应解决方案服务商

Core Viewpoint - The article highlights the development journey of Hubei Energy, emphasizing its transformation into a comprehensive energy group supported by capital market empowerment and strategic partnerships, particularly with China Three Gorges Corporation, to enhance energy security and drive regional economic growth [1][2]. Financing and Business Expansion - Hubei Energy became the first listed company in Hubei's energy sector in 2010, initially focusing on hydropower and thermal power, with limited asset scale [2] - The company has successfully utilized capital market tools, conducting three rounds of private placements in 2012, 2015, and 2025, which have continuously injected funds into its energy business [2] - The 2015 private placement marked a significant milestone, as China Three Gorges Corporation became the actual controller, facilitating resource, technology, and management collaboration [2] Shareholder Returns and Financial Performance - Since its listing, Hubei Energy has maintained a consistent cash dividend policy, with total cash dividends exceeding 8.2 billion yuan and an average payout ratio of 35.9% [3] - The company has diversified from a single power producer to a comprehensive energy group, with a total installed capacity of 18.33 million kilowatts as of June 2025, including hydropower, thermal power, wind, solar, and energy storage [3] Energy Security and Structural Advantages - Hubei Energy's core advantages include strong regional market absorption capacity, with its main power generation concentrated in Hubei province, enhancing energy security [4] - The company has a balanced energy source structure, with hydropower, thermal power, and renewable energy making up approximately 25.4%, 36.2%, and 38% of its installed capacity, respectively, which mitigates performance volatility [4] Technological Efficiency and Competitiveness - Hubei Energy has implemented advanced operational management in its hydropower stations, significantly improving water resource utilization [5] - The company operates four ultra-supercritical thermal power units, which account for 60.33% of its thermal capacity, showcasing competitive advantages in efficiency and operational costs [5] New Growth Opportunities and Carbon Goals - In response to national carbon neutrality goals, Hubei Energy is investing in wind, solar, and energy storage projects, increasing the share of clean energy to 37.96% of total installed capacity, a 30 percentage point increase since its listing [6] - The company is exploring new business areas such as virtual power plants and carbon trading, aiming to transform its clean energy advantages into economic benefits [6] Innovation and Future Development - Hubei Energy is committed to enhancing its technological innovation and digital transformation, with plans to increase R&D investment and develop impactful technologies by 2030 [7] - The company aims to become a comprehensive energy service provider characterized by clean, low-carbon, and intelligent solutions, contributing to national energy security and high-quality economic development [7]