JEI(SZ:000600)2023-06-02 10:22Group 1: Operational Performance - In Q1 2023, the company generated a total electricity output of 12.60 billion kWh, a decrease of 1.86% year-on-year [1] - The average utilization hours for the group were 1,149 hours, down by 22 hours compared to the previous year [1] - The average comprehensive benchmark coal price for Q1 was 1,046.75 RMB/ton, an increase of 8.23% year-on-year [1] Group 2: Pricing and Market Conditions - The average on-grid settlement price for Q1 2023 was 400.00 RMB/MWh, reflecting a year-on-year increase of 2.94% [2] - The Hebei region implemented a 20% upward adjustment to the benchmark market electricity price in 2022, with a time-of-use pricing mechanism starting in April 2023 [2] - The company plans to optimize the electricity volume structure during peak and off-peak periods to enhance pricing levels and increase generation efficiency [2] Group 3: Coal Procurement and Future Outlook - The company's coal procurement sources are primarily from Hebei, Shanxi, Shaanxi, and Inner Mongolia, with local suppliers accounting for approximately 20% and external suppliers for about 80% [2] - The coal market is expected to ease in 2023 due to increased domestic production and imports, leading to a downward trend in coal prices [2] - The company will adopt strategies such as staggered procurement and small-batch purchases to reduce fuel costs [2] Group 4: Project Development - The company has two ongoing thermal power projects, with plans for commissioning in the second half of 2023 [3] - The company received approval for the Xibaipo Power Plant Phase IV and Renqiu Thermal Power Phase II projects in March 2023, with construction planned to start within the year [3] - The company is actively pursuing opportunities in photovoltaic and other renewable energy projects as part of its green transition strategy [3]