Guangxi Guiguan Electric PowerCo (600236) Q2 2024 earnings summary

Executive summary

• Net profit attributable to shareholders reached RMB 1.44 billion, up 57.40% year-over-year, driven by turnaround in thermal power and increased hydropower generation.

• Operating revenue rose 16.25% year-over-year to RMB 4.83 billion, mainly due to higher hydropower output.

• Cash flow from operating activities increased 16.17% year-over-year to RMB 2.88 billion.

• Interim dividend of RMB 0.85 per 10 shares (pre-tax), totaling RMB 670 million, was proposed.

Financial highlights

• Net profit attributable to shareholders: RMB 1.44 billion, up 57.40% year-over-year.

• Operating revenue: RMB 4.83 billion, up 16.25% year-over-year.

• Basic and diluted EPS: RMB 0.1769, up 59.51% year-over-year.

• Net assets attributable to shareholders: RMB 19.76 billion, up 7.93% from year-end.

• Total assets: RMB 48.45 billion, up 2.47% from year-end.

Outlook and guidance

• The company continues to focus on clean energy, with 90% of installed capacity from hydropower, wind, and solar.

• Ongoing investments in new energy projects, with over RMB 40 billion committed to wind and solar projects in 2024.

• Management highlights strong risk resilience and market competitiveness due to clean energy focus.