JINKONG POWER(SZ:000767)2025-07-23 07:28Group 1: Coal Procurement and Pricing - The company's coal procurement primarily relies on long-term contracts, accounting for approximately 85% of total procurement, with market coal used as a supplement [2] - Fuel costs constitute 60-70% of the total generation and heating costs, influenced by market supply and demand dynamics, as well as changes in electricity prices [2] Group 2: New Energy Market Developments - Following the issuance of Document 136, there was a surge in new energy installations in Shanxi before May 31, with the market now awaiting further regulatory details [2] - The company currently has 300,000 kW of new energy capacity under construction, with future development contingent on the implementation of relevant provincial policies [3] Group 3: Power Generation Capacity and Goals - Shanxi Province has approved several clean and efficient coal-fired power projects, totaling approximately 8.64 million kW of installed capacity, with potential plans bringing the total close to 10 million kW [3] - The approved projects are expected to significantly enhance power supply and delivery capabilities in the short term, while long-term strategies will focus on technological upgrades and the integration of coal and new energy [3] Group 4: Financing Costs - The company's current comprehensive financing cost stands at 3.4% (excluding equity), a decrease of 20 basis points since the beginning of the year, with expectations to reduce it further to 3.15% [3]