HEGC(SZ:000883)2022-12-03 09:01Group 1: Hydropower Revenue and Forecast - The company's hydropower revenue is primarily dependent on the annual water inflow in the Qingjiang River basin, which is difficult to predict accurately due to its smaller area compared to the Yangtze River [2] - The company collaborates with meteorological departments to assist in forecasting water inflow, but predictions remain uncertain until the third quarter of each year [2] - There is currently no risk of shutdowns for the company's hydropower stations due to environmental policies [2] Group 2: Coal Procurement and Pricing - The company sources coal mainly from Henan, Shaanxi, Shanxi, and Anhui, with long-term contracts accounting for approximately 60% of procurement [3] - There is no import coal procurement, and coal prices have seen a slight decrease month-on-month as of January [3] Group 3: Power Generation and Market Dynamics - The available hours for thermal power generation in Hubei are influenced by electricity demand and hydropower output, prioritizing hydropower generation before planning thermal power [3] - The market trading price for electricity in Hubei is relatively low compared to regions like Henan and Guangzhou [3] Group 4: Future Development in Renewable Energy - The company is actively developing wind and solar projects, but faces increasing challenges due to industry and environmental policies, leading to a focus on acquisitions and mergers as primary growth strategies [3]