晶科科技(601778) - 晶科科技投资者关系活动记录表（7月）

Group 1: Company Performance and Strategy - The company aims to enhance business management to achieve steady performance, with an expected increase in annual power generation due to the growth in self-owned installed capacity [1] - The gross profit margin from power generation is anticipated to remain stable, supported by the company's leading position in securing centralized power station indicators and distributed project contracts [1] - The company plans to increase the scale of project sales in the second half of the year, contributing to its asset-light operational model [1] Group 2: Investor Relations and Shareholder Returns - The company is considering increasing shareholder returns through cash dividends, building on its history of consistent payouts [1] - The company is closely monitoring stock price trends and is prepared to implement measures such as share buybacks if necessary [2] Group 3: Financial Health and Cash Flow Management - The company’s convertible bonds are currently under pressure due to market sentiment, but there is no inherent risk as the company has sufficient cash reserves and stable profit contributions from its power generation business [2] - The negative operating cash flow is primarily due to rapid growth in new household photovoltaic projects, which are temporarily classified as inventory [2] - The company is accelerating the transfer of household photovoltaic assets to improve cash flow, with 130 MW already signed for sale by the end of Q2 [2] Group 4: Market Adaptation and Innovations - The company is diversifying its electricity product offerings to mitigate the impact of market-driven price fluctuations, including energy storage and virtual power plants [3] - The company has established an asset management department to develop targeted electricity trading strategies, enhancing its competitive edge in market transactions [3] - The company is actively participating in the carbon market and has developed services for clients in emission control through its electricity sales business [3]