万亿央企，大手笔增持

Core Viewpoint - China Three Gorges Group plans to increase its stake in Yangtze Power by investing between 4 billion to 8 billion yuan, marking its first share purchase in 12 years [2][4][7]. Group 1: Investment Details - The planned investment amount is between 4 billion to 8 billion yuan, with the funding sourced from self-owned and raised funds [7]. - The share purchase will occur over the next 12 months through various trading methods, including centralized bidding and block trading [7]. - As of August 22, the stock price of Yangtze Power was 27.87 yuan per share, allowing for an estimated acquisition of 144 million to 287 million shares [10]. Group 2: Historical Context - The last time China Three Gorges Group increased its stake in Yangtze Power was on October 9, 2012, with a total acquisition of 7.312 million shares by April 9, 2013 [4][11]. - In comparison, the current planned share acquisition significantly exceeds previous purchases, highlighting a strong commitment to the company [11]. Group 3: Company Performance - Yangtze Power reported a total revenue of 36.587 billion yuan for the first half of 2025, reflecting a year-on-year growth of 5.02%, and a net profit of 12.984 billion yuan, up 14.22% year-on-year [18][22]. - The increase in revenue is attributed to a rise in electricity generation from six major hydropower stations, which produced approximately 126.656 billion kilowatt-hours in the first half of 2025, a 5.01% increase compared to the previous year [22]. Group 4: Future Outlook - China Three Gorges Group's decision to increase its stake is based on confidence in Yangtze Power's future development, as the company is a leader in hydropower and clean energy [18][5]. - The company operates the world's largest clean energy corridor, consisting of six major hydropower stations, which are crucial for its growth strategy [22].