Group 1 - The core viewpoint of the report is that Dongwu Securities has given a "buy" rating for Jiantou Energy (000600.SZ) based on several positive factors [2] - The company plans to raise 2 billion yuan through a private placement to fund the Xibaipo Phase IV project, which primarily supplies electricity and centralized heating to Hebei Southern Power Grid [2] - Jiantou Energy's interim performance is strong, benefiting from its advantageous location, with stable growth in thermal power and accelerated development in photovoltaic energy [2] - The company is expected to benefit from the supply structure of non-nuclear and hydropower resources, with forecasts indicating that Hebei Province's thermal power prices and output will lead the industry from 2025 to 2027 [2]