Core Viewpoint - Tibet Tianlu has executed a strategic reduction of its holdings in China Power Construction Corporation, selling 25 million shares at an average price of 7.35 CNY per share, resulting in a total transaction value of approximately 184 million CNY, which significantly impacts its net profit for 2024 [4][3]. Group 1: Shareholding and Financial Impact - Tibet Tianlu sold 25 million shares of China Power Construction, realizing an estimated net gain of approximately 45.75 million CNY, which constitutes about 43.87% of the company's projected net profit for 2024 [4]. - Following the sale, Tibet Tianlu retains 41.77 million shares of China Power Construction [4]. - The average selling price of 7.35 CNY per share is notably higher than the closing price of 6.46 CNY on August 4 [3]. Group 2: Market Context and Performance - The stock prices of both Tibet Tianlu and China Power Construction have surged recently, with Tibet Tianlu's stock increasing by 107% and China Power Construction's by 34% [5]. - Tibet Tianlu's stock reached a historical high of 19.50 CNY on July 31, following significant investments in large infrastructure projects, including a major hydropower project with a total investment of approximately 1.2 trillion CNY [8]. - The company has a 65% market share in the cement sector in Tibet, positioning it as a key supplier in the region [8]. Group 3: Financial Performance and Future Outlook - The company has experienced fluctuations in its financial performance, with revenue and net profit showing declines in three out of the last four years [8]. - For the first half of 2025, Tibet Tianlu anticipates a net loss of between 77 million CNY and 115 million CNY, reflecting a year-on-year increase in losses [9]. - Despite a 10.76% increase in revenue to 339 million CNY in the first quarter, the company reported a net loss of 124 million CNY, indicating a trend of increasing revenue without corresponding profit growth [9].

Group 1 - The core point of the news is that Tibet Tianlu has sold 25 million shares of China Power Construction, realizing a transaction amount of 184 million yuan, which is 4.78% of the company's audited net assets attributable to shareholders for the last fiscal year [1] - The average transaction price for the shares sold by Tibet Tianlu is approximately 7.35 yuan per share, while the closing price on August 4 was only 6.46 yuan per share, indicating that the company sold at a relatively high price [1] - The net investment income from the sale of China Power Construction shares is estimated to be around 45.75 million yuan, accounting for 43.87% of the company's net profit attributable to shareholders for the last fiscal year [1] Group 2 - At the end of 2022, Tibet Tianlu signed a subscription agreement with China Power Construction to purchase approximately 66.77 million shares at a price of 6.44 yuan per share, totaling about 430 million yuan [2] - The financial outlook for Tibet Tianlu in 2024 is not optimistic, with projected revenue of 3.138 billion yuan, a year-on-year decline of 23.4%, and a net profit attributable to shareholders of -104 million yuan, marking three consecutive years of losses [2] - In the first quarter of 2025, Tibet Tianlu reported revenue of 339 million yuan, a year-on-year increase of 10.76%, but still recorded a net profit of -124 million yuan [2] - A positive signal was noted in the company's half-year performance forecast, indicating a reduced loss for the first half of 2025 compared to the first quarter [2] - Tibet Tianlu's stock price surged nearly doubling from July 21 to July 31, reaching 19.15 yuan per share, with a market capitalization of 25.4 billion yuan, driven by significant investments in the Yarlung Tsangpo River downstream hydropower project [2]

Group 1 - Tibet Tianlu (600326) reduced its stake in China Power Construction (601669) and achieved a net investment gain of 45.75 million yuan [1] - Since July, both Tibet Tianlu and China Power Construction have seen significant stock price increases, with Tibet Tianlu rising by 104% and China Power Construction by 33% [1][2] - The sale involved 25 million shares of China Power Construction, totaling 184 million yuan, with an average transaction price of 7.35 yuan per share [1] Group 2 - The purpose of the reduction was to further integrate the company's asset structure and focus on its core business [2] - Tibet Tianlu's main securities investment is in China Power Construction, with an initial investment cost of 430 million yuan for 66.77 million shares at 6.44 yuan per share [2] - The company reported a projected net loss of 1.04 billion yuan for 2024, with expectations of a continued loss in the first half of 2025 [1][2] Group 3 - The infrastructure sector, particularly large-scale projects like hydropower stations and cross-sea bridges, is expected to drive demand for construction materials [3] - Significant projects in the Greater Bay Area and Yangtze River Delta are underway, with total investments reaching approximately 100 billion yuan [3]