CN GREEN ELECTRICITY(SZ:000537)2025-09-09 12:48Group 1: Performance Overview - The company reported a market transaction volume of 65.28 billion kWh in the first half of 2025, accounting for 72.14% of the total grid-connected electricity, an increase from 70.15% in 2024 [6] - The company recovered subsidy payments of 0.6 billion yuan in the first half of 2025, with a total recovery of 16.67 billion yuan by the end of August, representing 211% of the total expected for 2024 [10] - The average electricity price for photovoltaic projects in Xinjiang rose to around 200 yuan/MWh in 2025, following supportive policy implementations [10] Group 2: Strategic Focus and Development Plans - The company aims to enhance its operational capabilities and achieve high-quality development during the second half of 2025, focusing on ten key tasks including power generation capacity enhancement and project cost control [3] - The company is transitioning its project focus from photovoltaic to wind energy, while also expanding its geographical presence from the northwest to the central and eastern regions of China [11] - The company is developing its "15th Five-Year Plan" to enhance its long-term development strategy in the renewable energy sector [11] Group 3: Technological Advancements - The company is actively exploring new technologies such as perovskite batteries and advanced wind power technologies, although no new projects were initiated in the first half of 2025 [8] - The company has implemented self-synchronizing voltage source technology to improve grid stability and has made significant progress in liquid air energy storage projects [9][12] - The company collaborates with various research institutions to develop advanced energy storage technologies and has not yet launched new core technology patents in the first half of 2025 [12] Group 4: Market Position and Competitive Advantage - The company's core competitive advantages include a strong industrial synergy mechanism and a focus on technology-driven strategies for high-quality development [9] - The company’s wind and solar power plants achieve industry-leading efficiency levels, with ongoing projects aimed at enhancing grid connection performance [9] - The company is cautious in its investment approach post-implementation of the "136 Document," ensuring that project investments meet internal return requirements [10]