HEGC(SZ:000883)2022-12-04 09:04Group 1: Hydropower Performance - In the first half of the year, hydropower generation was significantly affected, with a cumulative output of 3.842 billion kWh, a year-on-year decrease due to low water levels and insufficient rainfall [2] - The hydropower sector is expected to enter the flood season after February, but the company cannot accurately predict the annual water situation [2] Group 2: Thermal Power Generation - Thermal power generation saw a substantial increase, with a cumulative output of 1.504 billion kWh, representing a year-on-year growth of 77.14% [2] - The company anticipates that thermal power generation will continue to maintain high growth rates throughout the year [2] Group 3: Market Transactions and Pricing - In 2018, the company’s cumulative direct trading volume was 5.194 billion kWh, accounting for 25.79% of the total annual generation of 20.143 billion kWh [3] - The market transaction volume is expected to see significant growth in 2019 due to new thermal power installations [3] Group 4: Future Installations - Future hydropower projects include Jiangpinghe Hydropower Station (450,000 kW), Linxi River Hydropower Station (175,200 kW), and Xiakoutang Hydropower Station (58,000 kW) [3] - The company plans to add two thermal power units in Yingkou, totaling 1,000,000 kW [3] Group 5: Coal Supply and Costs - The Menghua Railway, as the longest coal transportation line in China, will improve coal supply channels for Hubei and surrounding provinces, benefiting local coal-fired power plants [3] - The impact of coal price reductions on thermal power generation costs remains uncertain due to various influencing factors [3]