15倍大牛股，控股股东拟最高增持80亿

Core Viewpoint - Changjiang Electric Power has announced a share buyback plan by its controlling shareholder, China Three Gorges Group, with a maximum investment of 8 billion yuan, marking the sixth buyback since its listing [1][2]. Group 1: Share Buyback Plan - The controlling shareholder plans to increase its stake in the company through the secondary market within the next 12 months, with a minimum of 4 billion yuan and a maximum of 8 billion yuan [1][2]. - The buyback methods include centralized bidding and block trading, funded by the shareholder's own and self-raised funds [1]. Group 2: Historical Performance - This is the sixth buyback plan since the company was listed, with previous buybacks occurring in 2006, 2009, 2012, 2016, and 2017 [2]. - Since its IPO on November 18, 2003, the stock price has shown a long-term upward trend, with a cumulative increase of over 15 times [2]. - The company has recorded positive returns in most years since its listing, with only slight declines in 2016 and 2022 [2]. Group 3: Recent Financial Performance - For the first half of 2025, the company reported a net profit of 12.984 billion yuan, a year-on-year increase of 14.22%, and total revenue of 36.587 billion yuan, up 5.02% year-on-year [4]. - Despite the overall market rising, the stock price has decreased by 2.59% this year, with a current market capitalization of 681.9 billion yuan [2]. Group 4: Dividend Policy - The company has announced a five-year dividend return plan, maintaining a payout ratio of no less than 70% of the net profit attributable to shareholders [5]. - The plan stipulates annual cash dividends based on the current year's profit, with the possibility of mid-term profit distribution under certain conditions [5].