JEI(000600)2025-02-08 09:12Group 1: Company Overview - Hebei Jiantou Energy Investment Co., Ltd. was established on January 18, 1994, and is a key domestic capital operation platform under Hebei Construction Investment Group [1] - The company was listed on the Shenzhen Stock Exchange in June 1996 [1] Group 2: Financial Performance - As of the end of 2023, the total assets of the company amounted to 384.49 billion yuan, with net assets of 98.87 billion yuan [2] - The controlling shareholder, Jiantou Group, holds 64.99% of the company's shares, totaling 11.76 billion shares [2] Group 3: Operational Capacity - The company operates 14 wholly-owned and controlled thermal power generation companies, with a total controlled thermal power installed capacity of 11.77 million kilowatts [2] - The company's controlled installed capacity accounts for over 20% of the total coal-fired installed capacity in both the southern and northern power grids of Hebei [2] Group 4: Production and Sales - In the first three quarters of 2024, the company achieved a cumulative power generation of 36.56 billion kilowatt-hours, a year-on-year increase of 16.70% [2] - The average utilization hours of the power generation units increased by 119 hours year-on-year, reaching 4,409.30 hours [2] Group 5: Future Development Plans - The company plans to add 1.32 million kilowatts of controlled installed capacity and 1.195 million kilowatts of equity installed capacity in 2025 [3] - Ongoing projects include the construction of the Xibaipo Power Plant Phase IV and the Renqiu Thermal Power Plant, both expected to be operational by 2026 [3] Group 6: Market and Pricing - The capacity price in Hebei Province is currently set at 100 yuan per kilowatt annually, with monthly settlements [3] - The company has a long-term coal supply coverage exceeding 80%, primarily sourcing from Shanxi, Shaanxi, Inner Mongolia, and local Hebei [3] Group 7: Investor Relations and Dividends - The company has a stable profit distribution policy, committing to distribute at least 30% of the distributable profits as cash dividends annually [4] - Future efforts will focus on enhancing investor returns while balancing short-term and long-term interests [4]