煤电互补

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永泰能源(600157):2025年半年报点评:25Q3业绩有望修复,海则滩煤矿提供成长动力
Minsheng Securities· 2025-08-27 08:21
永泰能源(600157.SH)2025 年半年报点评 25Q3 业绩有望修复,海则滩煤矿提供成长动力 2025 年 08 月 27 日 ➢ 事件:2025 年 8 月 26 日,公司发布 2025 年半年报,上半年公司实现营业 收入 106.76 亿元,同比减少 26.44%;归属于母公司所有者的净利润 1.26 亿元, 同比减少 89.41%。 ➢ 25Q2 业绩环比增长。25Q2 公司实现营业收入 50.35 亿元,同比减少 29.98%,环比下降 10.73%;归属于母公司所有者的净利润 7485.32 万元,同 比减少 89.65%,环比增长 46.58%。 ➢ 25H1 电力业务增利显著。25H1 煤炭业务实现毛利 5.92 亿元,同比下降 77.19%,但电力业务实现毛利 16.4 亿元、同比增长 20.51%。公司煤电互补经 营优势有望对冲煤价波动带来的负面影响。 ➢ 25Q2 煤炭盈利下滑。25Q2 公司实现原煤产量 400.4 万吨,同比增长 11.58%,环比增长 37.47%,实现煤炭销量 398.56 万吨,同比增长 12.33%, 环比增长 37.22%。测算吨煤售价为 345.19 ...
永泰能源上半年实现营收106.76亿元 全面加快海则滩煤矿建设
Zheng Quan Ri Bao Wang· 2025-08-26 12:41
作为优质的区域绿色清洁能源供应商,永泰能源控股电力总装机容量918万千瓦,参股总装机容量为400 万千瓦,其所属电厂在江苏、河南等地成为区域主力电厂和保供主力军。公司煤电互补经营优势也助力 公司在今年上半年有效对冲煤价波动带来的影响。 对于电力业务,报告期内,公司强化电量营销,并通过年度双边协商交易、电网代理、省间外送电交易 等多种方式积极争取电量计划,同时,公司抓住煤价下行有利时机积极创效,累计完成发电量178.94亿 千瓦时、对外供热1535.4万吉焦。 本报讯(记者王僖)8月26日晚,永泰能源(600157)集团股份有限公司(以下简称"永泰能源")发布2025年 半年度报告,报告期内,公司聚焦煤电主业,科学调整生产经营策略,电力业务效益持续增长,煤炭业 务生产运营稳定,海则滩煤矿全面加快建设,企业发展稳定向好。 公司半年报数据显示,报告期内公司实现营业收入106.76亿元,归属于上市公司股东的净利润1.26亿 元,公司经营活动产生的现金流量净额为27.26亿元,显著高于净利润。永泰能源有关人士表示,这说 明公司主营业务的造血能力依然存在,这有助于公司维持正常的运营和发展。同时,公司上半年营业成 本为84 ...
永泰能源沙洲电厂单日发电量创新高 煤电互补优势尽显
Zheng Quan Shi Bao Wang· 2025-05-25 10:23
Group 1 - The core achievement of Zhangjiagang Shazhou Power Co., Ltd. is the record daily electricity generation of 75.661 million kWh, with a load factor of 96.70%, marking the highest daily output since its establishment [2] - The electricity generation has been consistently increasing, with 17 billion kWh in 2022, projected to reach 18.5 billion kWh in 2023, and 19.3 billion kWh in 2024, indicating a strong growth trajectory [2] - The recent daily output surpassed the previous record of 72.937 million kWh set on January 26, 2024, by nearly 3.7%, demonstrating the company's capability to meet regional power supply demands [2] Group 2 - Shazhou Power ranks seventh in total installed capacity in Jiangsu Province and second in the Suzhou area, highlighting its significance as a power support point for the southern Jiangsu power grid [3] - The plant's large-scale units achieve over 5,800 hours of annual utilization for million-kilowatt units and over 6,000 hours for 600,000-kilowatt units, showcasing industry-leading operational efficiency [3] - Yongtai Energy's power segment, with a total installed capacity of 9.18 million kW and a focus on large units and high technology, has effectively leveraged coal-electricity complementary advantages during periods of declining coal prices [3]
永泰能源(600157):2024年报、2025年一季报点评报告:煤价下行电力成本受益,延续回购回报投资者
KAIYUAN SECURITIES· 2025-05-08 14:11
Investment Rating - The investment rating for the company is maintained at "Outperform" [1] Core Views - The company benefits from declining coal prices, which positively impacts electricity costs, and continues to repurchase shares to reward investors [3][5] - The company reported a revenue of 28.36 billion yuan in 2024, a decrease of 5.9% year-on-year, and a net profit attributable to shareholders of 1.56 billion yuan, down 31.1% year-on-year [3][4] - The company is expected to see a significant recovery in net profit in 2026 and 2027, with projections of 904 million yuan and 1.48 billion yuan respectively, indicating a growth of 118.6% and 63.4% year-on-year [3][6] Financial Performance Summary - In 2024, the company achieved a coal production and sales volume of 13.68 million tons, an increase of 5.5% and 5.3% year-on-year respectively [4] - The average coal price in 2024 was 669.5 yuan per ton, down 23.3% year-on-year, while the cost per ton was 364.8 yuan, a decrease of 6.6% year-on-year [4] - The company's electricity generation in 2024 was 41.3 billion kWh, reflecting a year-on-year increase of 10.5% [4] Growth Potential - The Haizetang coal mine is expected to enhance coal production capacity, with plans for trial production in mid-2026 and full production in 2027, targeting an output of 10 million tons [5] - The company is actively advancing its energy storage projects, particularly in the all-vanadium flow battery sector [5] - A share repurchase plan for 2025 is being formulated, with a commitment to repurchase at least 300 million yuan worth of shares [5]