JEP(000875)2024-08-21 00:32Company Overview - Jilin Electric Power Co., Ltd. was established in 1993 and listed on the Shenzhen Stock Exchange in 2002, becoming a major enterprise under the State Power Investment Corporation [1] - As of June 2024, total assets reached CNY 79.73 billion, with installed capacity at 13.6699 million kW, and clean energy installed capacity accounting for over 75% [1] Financial Performance - For the first half of 2024, the company achieved a total profit of CNY 1.642 billion, marking a historical high with a year-on-year increase of CNY 163 million (11.04%) [1] - Net profit attributable to shareholders reached CNY 1.095 billion, an increase of CNY 198 million (22.03%) year-on-year [1] - Since its listing, total assets have grown from CNY 2.8 billion to CNY 79.73 billion, a 28-fold increase, while installed capacity has increased from 850,000 kW to 13.6699 million kW, a 16-fold increase [2] Development Stages - The company has undergone three development phases: 1. 2002-2011: Rapid development of thermal power, increasing installed capacity from 850,000 kW to 4.48 million kW [2] 2. 2012-2020: Transition to renewable energy, with installed capacity of renewable energy reaching 4.83 million kW by 2020, surpassing thermal power [2] 3. 2021-Present: Focus on innovation and development of hydrogen energy and integrated smart energy [2] Strategic Initiatives - The company is a pioneer in the hydrogen energy sector, developing the largest green hydrogen synthesis ammonia project in China [2] - Plans to establish large-scale renewable energy bases in Shandong and Jilin, and to promote decentralized wind power projects [3] - Aiming for a total installed capacity of 20 million kW by 2025, with solar power accounting for 40% of new projects [5] Market Engagement - In the first half of 2024, approximately 50% of the new energy output participated in market transactions [4] - The company has established a joint venture with COSCO Shipping and Shanghai Port Energy for methanol consumption, holding a 55% stake [4] Future Outlook - The company plans to maintain a dividend payout of at least 30% of distributable profits annually, ensuring sustainable operations and long-term development [4] - It aims to enhance its core capabilities in investment, development, construction, technology, innovation, and operation to support high-quality growth [3]