GCEG(SZ:002060)2022-11-21 15:52Group 1: Company Overview - The main business of the company includes hydropower, water conservancy, rail transit engineering construction, and clean energy generation from hydropower, wind power, and solar photovoltaic sources [1] - The total installed capacity of clean energy generation currently in operation is 1,517.38 MW, comprising 238 MW from hydropower, 673 MW from wind power, and 606.38 MW from photovoltaic power [1][2] Group 2: Ongoing Projects - The company has ongoing clean energy projects, including the Hami Shisan Wind Power Project (50 MW) and a 150 MW integrated solar-storage project in Bachu County, Xinjiang [2] - The integrated solar-storage project has a construction scale of 22.5 MW/45 MWh and is currently under construction [2] Group 3: Business Operations - The company has qualifications and experience in constructing pumped storage power stations, having participated in several projects in Guangdong and Hainan [2] - The wind tower manufacturing business includes both onshore and offshore wind towers, with an annual production capacity of approximately 200,000 tons [2] Group 4: Financial Performance - In the first half of 2021, engineering construction revenue accounted for 80.76% of total operating revenue, while power generation revenue accounted for 12.45% [2] - The low gross profit margin in engineering construction is attributed to intense market competition, rising costs of materials and labor, and increased management standards [4] Group 5: Debt Management - The company plans to reduce its debt-to-asset ratio by improving project settlement processes, enhancing accounts receivable collection, and diversifying financing channels [4]