CSG Energy(SZ:003035)2023-11-16 00:22Group 1: Company Performance and Outlook - The company anticipates challenges in achieving growth for the full year 2023 due to ongoing poor profitability in the biomass business, but remains optimistic about future opportunities in comprehensive energy development [1] - For 2024, the company plans to explore both internal and external growth strategies, focusing on optimizing energy-saving and distributed photovoltaic (PV) businesses to ensure stable development [2] - The company aims to accelerate the deployment of distributed wind power in response to national initiatives, with specific financial indicators and investment plans to be disclosed after the April 2024 board meeting [2] Group 2: Project Development and Investment - The construction period for distributed PV projects typically ranges from 3 to 6 months, although some may exceed 6 months due to various factors [2] - The company requires a minimum internal rate of return of 6% for investments in distributed PV projects, with flexibility based on project specifics [2] - The company has developed strategies for distributed wind power and has signed framework agreements for projects involving over 400 wind turbines and a total installed capacity exceeding 2 GW [3] Group 3: Financial Metrics and Subsidies - The average financing cost for the company was 3.9% in 2022, with an expected decrease of 20-40 basis points in 2023 [3] - As of the end of September 2023, the company had recovered approximately 45 million yuan in renewable energy subsidies, with a remaining balance of about 2.067 billion yuan [4]