黔源电力：2025年发电收入及发电利润增加 净利润同比预增160%-190%

Core Viewpoint - Qianyuan Power (002039) expects a significant increase in net profit for 2025, projecting a growth of 160.00%-190.00% year-on-year, with net profit attributable to shareholders estimated between 567 million to 633 million yuan [1] Financial Performance - The company anticipates a non-recurring net profit for 2025 to be between 562 million to 633 million yuan, reflecting a year-on-year growth of 138.00%-168.00% [1] - The expected hydropower generation for 2025 is 12.12 billion kilowatt-hours, which represents a year-on-year increase of 71.90%, contributing to higher revenue and profit from power generation [1] Operational Overview - Qianyuan Power primarily engages in the development, construction, and management of hydropower stations, focusing on the "Two Rivers and One River" (Beipan River, Furong River, and Sancha River) in Guizhou for tiered hydropower and clean energy development [1] - As of the end of 2024, the total installed capacity of the company is projected to be 4.1056 million kilowatts, with hydropower station capacity at 3.2335 million kilowatts and photovoltaic power station capacity at 872.1 thousand kilowatts [1]