GGEP(SH:600236) Zheng Quan Shi Bao·2025-12-02 17:58Core Viewpoint - The company, Guiguan Electric Power, has demonstrated resilience and quality in growth through technological innovation and shareholder returns during the "14th Five-Year Plan" period, showcasing its strength as a leading hydropower enterprise [1] Performance and Dividends - Guiguan Electric Power has shown steady operational performance, benefiting from improved water inflow and refined management, with a consistent annual dividend of 0.2 yuan (including tax) per share from 2022 to 2024 [1] - The company has implemented a mid-year and annual dividend strategy starting in 2023, with an average dividend payout ratio of approximately 82.83% over the past three years, reflecting the resilience of its operating cash flow [1] Capacity and Generation - As of mid-2025, Guiguan Electric Power has an installed capacity of 14.1777 million kilowatts, including 10.2404 million kilowatts from hydropower, 1.33 million kilowatts from thermal power, 0.9447 million kilowatts from wind power, and 1.6626 million kilowatts from solar power [1] Green Energy Initiatives - The company has actively promoted the construction of green and clean energy, achieving a cumulative new energy construction target of 981,000 kilowatts and a record high of 879,700 kilowatts in production capacity [2] - Through project optimization and a framework procurement model, the company has successfully reduced the unit cost of wind and solar power, achieving both qualitative improvements and reasonable quantitative growth [2] Capital Operations - Guiguan Electric Power has strategically invested in high-quality new energy projects, with core assets like the Longtan Hydropower Station operating efficiently, achieving a daily generation capacity that once exceeded 100 million kilowatt-hours [2] - The company is poised for high-quality development, leveraging its achievements from the "14th Five-Year Plan" to embark on a new journey [2]