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粤电力A:2025年度公司燃煤机组上网电价同比显著下行
Core Viewpoint - The company anticipates significant pressure on annual revenue for the fiscal year 2025 due to intensified competition in the electricity market and related policy adjustments, leading to a notable decline in the on-grid price of coal-fired power generation [1] Group 1 - The average gross profit from coal-fired power generation is expected to decrease year-on-year [1] - The decline in coal prices has a positive effect on the company's cost control, but it is insufficient to offset the negative impact of falling electricity prices on profits [1] - The company acknowledges the challenges posed by the competitive market environment and regulatory changes [1]