The two -year revenue of the two power generation companies exceeds 10 billion yuan, and the Ministry of Finance is expected to issue another 39.9 billion subsidy models | Electricity Weekly Rating List

Data combing and watch: Xing Qixin

Huaxia Times (chinatimes.net.cn) reporter Xing Qixin Lu Xiaoxiao Beijing report

This week (July 18-July 22), the Oriental Fortune Power Industry sector trended down. Except for a few stocks such as Changjiang Electric Power, more than half of the sectors are on the downward range of the stocks. Among the 10 appliance companies that the reporter of the Huaxia Times focusing on, one of the week has risen and 9 declines. The Yangtze River Electricity increased by 2.77 % during the week, and was also the highest increase in TOP10.

The total transaction volume of the Oriental Fortune Electric Power Industry Platethon this week was 153.7 billion yuan, a decrease from last week. The overall increase of the sector was 2.05 %.

Two power generation companies have exceeded 10 billion revenue in the first half of the year

On the face of the company, Huaneng and Huaneng Hydropower announced in Inner Mongolia in the first half of the year.

On July 22, Huaneng Hydropower issued the "Announcement of the Half -Annual performance Express in 2022" (hereinafter referred to as the "Performance Express"). Huaneng Hydropower stated in the "Performance Express" that the company achieved total operating income of 11.130 billion yuan in the first half of 2022, an increase of 12.91%year -on -year; the total profit was 4.648 billion yuan, a year -on -year increase of 39.58%; the net profit attributable to shareholders of listed companies was 3.842 billion yuan , A year -on -year increase of 42.64%.

Regarding the reasons for the growth of performance, Huaneng Hydropower replied: "First, because in the first half of 2022, the Lancang River Basin Xiaowan and Nuozha Datu's broken noodles were over 30%year -on -year. The comprehensive settlement electricity price increased year -on -year, making operating income increased year -on -year. Third, due to the company's continuous optimization of debt structure, refined cost control, and efforts to reduce costs and efficiency, the financial expenses of the reporting period decreased by about 10.94%year -on -year. "

In addition, Inner Mongolia Huadian also announced this week that its total operating income was 10.970 billion yuan, an increase of 33.94 % year -on -year. While publishing the performance trailer, Inner Mongolia China also announced the dividend plan. According to Inner Mongolia Huadian's "Announcement on Implementation of the 2021 Annual Research Research", "The total share capital of the company before the implementation of the plan was based on the total share capital of the plan. Yuan."

In terms of the trend of the sector, the TOP 10 stocks trend almost similar, rising on Monday, and fell all the way down on Tuesday.

According to the flow of funds after a week (5th) of the Oriental Wealth Network, the power industry sector was 5.633 billion yuan within 5 days. The net inflow of the medium, large single, and large orders and the main force is negative, respectively, -328 million yuan, -3.305 billion yuan, -1.999 billion yuan and -5.304 billion yuan.

The Ministry of Finance is expected to issue another 39.9 billion subsidies

In terms of industry, on July 15, the State Grid Corporation issued the "Announcement of National Power Grid Co., Ltd. on the first renewable energy electricity price additional subsidy funds of the annual budget of 2022" (hereinafter referred to as the "Announcement"), released in 2022 A batch of subsidy funds.

The "Announcement" pointed out that the first invitation of the annual budget in 2022, the Ministry of Finance predicts that the company's annual budget for renewable energy electricity price additional subsidy funds is 39.937 billion yuan. Among them, wind power generation was 10.518 billion yuan, solar power generation was 26.067 billion yuan, and biomass energy power generation was 3.352 billion yuan.

After the relevant funds will subsidize the funds of the Ministry of Finance, the project owner unit will issue an invoice, and strictly shall be transferred in a timely and in time in accordance with the requirements of policy documents. The document clearly clarifies the first fund allocation. It is expected that with the completion of the subsidy verification, subsequent batch subsidies will be issued one after another. Prior to this, the Ministry of Finance had successively issued at least 56.2 billion renewable energy subsidies.

In terms of research reports, on July 22, Southwest Securities Analyst Wang Yingting pointed out in the research report "The advantages of coal power associations with a significant advantage in the coal power association, and the performance and steady performance". Rising steadily, completing 29.02 billion kilowatt -hours of power generation, an increase of 6.7%over the same period of the previous year; the completion of 26.87 billion kilowatt -hours of internet power, an increase of 6.5%over the same period of the previous year. Including taxes), an increase of 94.30 yuan/MW (excluding tax) year -on -year, an increase of 34.0%year -on -year. Inner Mongolia has gradually released the market -oriented ratio of the electricity price of thermal power transactions since October 2021. Other industries do not exceed 20%, which has increased the company's aforementioned indicators compared with the same period of the previous year (after removing). The company is the only listed company in Inner Mongolia Group in Inner Mongolia. At the same time, the company will build two flexible transformation projects during the year, equipped with 850,000 kilowatts of photovoltaic, and realize the integrated development of scenery and fire through the flexibility of thermal power. "

Wang Yingting believes that the company's net profit is expected to be 2.96 billion yuan /36.60 billion yuan/40.3 billion yuan in net profit at 22-24 years. Considering that the company has the advantages of thermal power costs, various business collaborative effects have been significant, and the "buy" rating is maintained.

At the same time, Wang Yingting also proposed in the research report "New Energy Transitions and Speed ​​Cost of the Cost of thermal Power" issued by Guodian Power's release on July 19. As of June 30, 2022, the installed capacity of the National Power consolidation statement controlled control capacity was 100.4GW, and the installed capacity of 100.4GW, and the installed capacity of the caliber holding of the state power. Among them, thermal power is 76.5GW, hydropower 15.0GW, wind power 7.5GW, photovoltaic 1.5GW, clean energy installation accounts for 23.8%, an increase of 1.3PP from the end of 2021; The amount of wind power capacity rises by 0.4GW, and the amount of photovoltaic installation rises by 1.1GW. The company clearly explicitly accelerate the development of new energy in 2022. It plans to obtain more than 10GW of new energy resources and approve 9.3GW. The growth rate of new energy installations is expected to accelerate. Therefore, Wang Yingting expects that Guodian Power's net profit attributable to his mother from 22-24 years will be 4.79 billion yuan/6.25 billion yuan/7.97 billion yuan. Considering that the company has the advantages of thermal power costs, various business collaborative effects have been significant, and the "buy" rating is maintained.

What is the demand for electricity consumption in various places? Qi Haikun, President of Beijing Sunshine New Energy, said in an interview with the "Huaxia Times" reporter: "Since June, the national epidemic situation is generally controllable. Then there is the increase in the amount of new energy electric vehicles. The soaring fuel prices caused new normalization of electrification and improved electricity. "

Editor -in -chief: Editor of Lu Xiaoxiao: Zhang Yuning

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