WTECL(SH:600157) Zhong Guo Jing Ji Wang·2025-12-02 01:45Core Viewpoint - Yongtai Energy plans to repurchase a portion of its A-shares to optimize its capital structure and enhance investor confidence, with a total repurchase amount between RMB 300 million and RMB 500 million, at a price not exceeding RMB 2.50 per share [1] Group 1: Financial Performance - In Q3 2025, Yongtai Energy's power segment achieved a record generation of 13.535 billion kWh, a year-on-year increase of 11.65%, contributing to a gross profit of RMB 2.656 billion, up 26.48% year-on-year [1] - The company reported a net cash flow from operating activities of RMB 4.450 billion for the first three quarters of 2025, providing strong support for business expansion and share repurchase [2] Group 2: Coal Business - In Q3, Yongtai Energy's raw coal production reached 4.4179 million tons, a year-on-year increase of 12.02%, with enhanced cost control due to smart upgrades and process optimization [2] - The Haizetang coal mine project is progressing well, with trial mining expected to start in July next year, which will significantly boost the company's long-term performance [2] Group 3: Energy Storage Innovations - Yongtai Energy has made breakthroughs in vanadium flow battery technology, developing a first-generation solid-state positive electrode material that could reduce electrolyte costs by 40%-60% [2] - As of September 2025, the company holds 26 patents related to energy storage, establishing a solid technological barrier for entering the trillion-yuan energy storage market [2] Group 4: Strategic Initiatives - The share repurchase plan aims to optimize Yongtai Energy's capital structure and enhance earnings per share, reflecting the company's recognition of its intrinsic value and commitment to shareholder returns [2]