JEI(SZ:000600)2025-04-30 08:54Group 1: Production and Financial Performance - In 2024, the company achieved a total electricity generation of 500.1 billion kWh, an increase of 27.5% year-on-year, with an average settlement price of 437.37 RMB/MWh (including tax), a decrease of 2.82% [1] - For the first quarter of 2025, the company reported a generation of 129.58 billion kWh, a decrease of 7.23% year-on-year, and a sales heat volume of 4,017.89 million GJ, down 3.48% [2] - The company’s total revenue for 2024 was 235.17 billion RMB, a year-on-year increase of 20.09%, with a net profit attributable to the parent company of 5.3 billion RMB, up 181.59% [2] Group 2: Cost Management and Coal Supply - In 2024, the company procured 34.01 million tons of electricity coal, with an average comprehensive benchmark price of 775.12 RMB/ton, a decrease of 10.07% year-on-year [1] - The company’s long-term coal supply agreements cover over 80% of its coal needs, with primary sources being Shanxi, Shaanxi, Inner Mongolia, and local Hebei [5] Group 3: Future Projects and Capacity Expansion - In 2025, the company plans to add a controlled installed capacity of 132,000 kW and an equity installed capacity of 119.5 million kW [8] - Ongoing projects include the construction of the Xibaipo Power Plant Phase IV (2×66,000 kW) and the Renqiu Thermal Power Plant Phase II (2×35,000 kW), both expected to be operational by 2026 [8] Group 4: Market Conditions and Trading - The company reported that approximately 80% of the electricity traded in 2025 was through bilateral negotiations [3] - The Hebei region's spot market began trial operations on March 1, 2025, with the company prepared for normal trading activities [4] Group 5: Dividend Policy and Investor Relations - The company has increased its cash dividend distribution from 30% to 50% of the distributable profits as part of its three-year shareholder return plan (2024-2026) [8]