JXGNCL(SZ:000899)2025-07-22 08:38Group 1: Financial Performance - The company expects a net profit attributable to shareholders of between 399 million and 474 million yuan for the first half of 2025, representing a year-on-year growth of 17.70% to 39.83% [2] - The thermal power segment is the main source of revenue and profit, benefiting from a decrease in coal prices, which has led to improved profitability in this segment [2] Group 2: Market Conditions - The spot electricity price in Jiangxi Province is influenced by market supply and demand, generation costs, and load levels, with a unified pricing method based on "centralized bidding and time-based marginal clearing" [3] - The company is optimizing its trading strategies and pricing schemes in the electricity market to enhance efficiency [3] Group 3: Project Developments - The Jiangxi Ganneng 2×1000 MW clean coal power project is expected to be commissioned in 2025 [3] - The future profitability of the clean coal project will be affected by coal prices, electricity prices, and electricity generation, with efforts to reduce coal procurement costs and improve marketing strategies [3] Group 4: Hydropower Operations - The hydropower segment's generation volume has decreased compared to the previous year due to lower water inflow, resulting in a decline in hydropower revenue [3] Group 5: Capacity Pricing Policy - The capacity pricing policy in Jiangxi Province is implemented based on a notification from the National Development and Reform Commission, with the current coal power capacity price set at 100 yuan per kilowatt per year (including tax) [3]