YEIC(SZ:002053)2025-01-13 11:46Group 1: Company Overview and Strategy - The company is focused on a green energy strategy, rapidly increasing its installed capacity of renewable energy to 1.94 million kW, ranking first in the province for wind power projects over the past five years [2] - The salt industry segment is optimizing production resources and enhancing market competitiveness through capacity elimination and improved production-sales coordination [2] - Future plans include strengthening the core business of green energy and advancing the transformation of the salt industry [2] Group 2: Project Developments - The compressed air energy storage project is expected to commence in 2025, with a construction period of 2-3 years [2] - In 2025, the company will advance the construction of 670,000 kW wind power expansion projects and several photovoltaic projects, including a 50,000 kW project in Malong and an 85,000 kW project in Huize [3] - The company’s projects are financed with 20% self-funding and 80% loans [3] Group 3: Financial Information - As of September 2024, the company has a total receivable balance of national subsidies amounting to 1.375 billion yuan [3] - In 2023 and 2024, the company received national subsidy funds of 157 million yuan and 227 million yuan, respectively [3] - The provincial subsidy for the Shilin photovoltaic project is 0.841 yuan per kWh [3] Group 4: Operational Metrics - The average utilization hours for photovoltaic energy in Yunnan are approximately 1,300 hours [3] - The depreciation period for wind and photovoltaic projects is set at 20 years [4] - The Shilin photovoltaic project, with a capacity of 10 MWp, was commissioned in July 2010, indicating it has been operational for over 15 years [4]