建投能源(000600) - 建投能源调研活动信息

Group 1: Power Generation Performance - In the first half of 2020, the company generated 175.52 billion kWh of electricity, with a grid-connected power generation of 163.44 billion kWh, achieving an average utilization of 2,124 hours, which is 130 hours higher than the national average for thermal power [1] - The company expects a further recovery in electricity demand in the second half of 2020 as the pandemic situation improves [1] Group 2: Pricing and Market Transactions - The electricity price mechanism in Hebei for 2020 follows a "base price + floating" model, with no upward adjustment for non-market traded electricity [2] - The expected market transaction volume for Hebei South Grid is 650 billion kWh and for Hebei North Grid is 300 billion kWh, with a total estimated market transaction volume of around 420 billion kWh for South Grid and 200 billion kWh for North Grid [2] Group 3: Coal Procurement and Cost Control - The company has increased its long-term coal procurement ratio to approximately 60%, primarily sourcing from Shanxi, Shenhua Group, and local suppliers [2] - The average standard coal price for the company's controlled power generation companies was 551.58 yuan/ton, with a reduction of 61.73 yuan/ton compared to previous periods [2] Group 4: Future Projects and Environmental Initiatives - The company has successfully launched the second unit of the Zunhua Thermal Power Project and is expanding its heating network business [3] - Significant investments have been made in environmental protection, including deep emission reductions and coal yard closures, with ongoing projects for comprehensive wastewater treatment [3] Group 5: Shareholder Returns - The company has maintained a cash dividend policy, with an average dividend payout ratio of 43.35% over the past three years (2017-2019) [4] - Future dividend plans will be based on profitability and development needs, with a commitment to continue cash dividends to shareholders [4]