TBEA(600089)2024-10-11 07:34Group 1: Company Performance and Capacity - The company currently has a polysilicon production capacity of 300,000 tons per year, with the industry facing an oversupply situation [1] - As of June 2024, the company's self-operated power station capacity reached 3.51 GW, with ongoing investments in new projects totaling 4 GW [2] - The gross margin for wind and solar power construction projects in the first half of 2024 was 19.35% [2] Group 2: Market and Financial Insights - In the first half of 2024, the company achieved a signed contract value of 23.961 billion yuan in the power transmission and transformation sector, representing a year-on-year growth of over 20% [4] - The company’s international system integration business has contracts exceeding 5 billion USD, with product exports in the first half of 2024 reaching 490 million USD, a growth of over 70% compared to the previous year [4] - The company has maintained a cash dividend payout ratio of 30% of net profit over the past decade, with future dividends to be determined based on profitability and development needs [6] Group 3: Strategic Development and Challenges - The company plans to increase the operational scale of BOO power stations to secure stable income and profits [2] - The company is actively seeking to obtain approval for increasing coal production capacity, which requires strict government oversight [4] - The company aims to leverage the synergy of its four major industries: power transmission and transformation equipment manufacturing, new energy, new materials, and energy to ensure steady growth [6]