Core Viewpoint - China Huadian Group's subsidiary, Huadian New Energy, successfully listed on the Shanghai Stock Exchange, marking it as the third solar and wind energy company to go public this year, following Shihang New Energy and Zerun New Energy [1] Group 1 - The stock was issued at a price of 3.18 yuan per share, and on its first trading day, it opened 72.96% higher at 5.5 yuan per share, with a total market capitalization of 225.3 billion yuan [1] - The total number of shares issued, after full exercise of the over-allotment option, reached 5.714 billion shares, with a maximum fundraising amount of 18.171 billion yuan, making it the largest IPO in A-shares this year [1] - Huadian New Energy serves as the sole integrated platform for Huadian Group's wind and solar energy business, focusing on the development, investment, and operation of wind and solar power plants [1] Group 2 - By the end of 2024, the company is expected to have a controlled installed capacity of 68.62 GW, comprising 32.02 GW from wind power and 36.59 GW from solar power, representing 6.15% and 4.13% of the national market share, respectively [1] - The projected operating revenue for 2024 is 34 billion yuan, with a net profit margin of 27.91% and a return on equity of 10.16%, indicating leading profitability metrics compared to peers [1] Group 3 - The funds raised from the IPO will be primarily allocated to projects such as large-scale wind and solar bases, local consumption load centers, new power system collaborative development projects, and green ecological civilization projects [2] - The company aims to leverage the core advantages of large-scale development to transform the raised funds into new momentum for high-quality development and performance enhancement, adapting to the requirements of market-oriented pricing reforms [2] - The company plans to optimize and construct its 13.2 million kW reserve projects, establishing a sustainable development framework characterized by orderly development, efficient construction, and stable operation [2]