handzpokerplayer| Changjiang Power earned 4 billion yuan in the first quarter, with a market value of 643.5 billion yuan, and distributed a total of 182.8 billion yuan in cash dividends
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Source: Changjiang Business Daily
Shen Yourong, reporter of Changjiang Business Daily.
Since the beginning of the year, the global hydropower giant Changjiang Electric Power (600900Handzpokerplayer.sh) lead the way in the secondary market.
On May 24, the share price of Changjiang Electric Power rose 0. 5%.Handzpokerplayer.57% to close at 26.30 yuan per share. Share prices have risen 12.68% since the start of the year.
As of May 24, the company's market capitalization was 643.5 billion yuan, and its market capitalization and stock price reached record highs.
At the end of the first quarter of this year, funds held a total of 1.085 billion shares in Changjiang Power, the highest since 2009, according to Wind.
Why Changjiang Electric Power is so favored by fundsHandzpokerplayer?
In the first quarter of this year, Changjiang Electric Power achieved a net profit of 3.967 billion yuan (hereinafter referred to as "net profit") belonging to the shareholders of the parent company, continuing the growth momentum and reaching a record high in the same period.
Since 2016, the company's annual net profit has exceeded 20 billion yuan, and the net profit in 2023 was 27.239 billion yuan.HandzpokerplayerAn all-time high for the year. The stability of the company's profitability is evident.
The tradition of high proportion and stable dividend is one of the important factors that funds prefer Yangtze River Electric Power. In 2023, the company paid a cash dividend of 20.064 billion yuan to shareholders. Since listing, the company has distributed a cumulative cash dividend of 182.8 billion yuan, which is close to 67% of the company's accumulated net profit.
The market capitalization has increased by 520 billion in 10 years.
Changjiang Electric Power has performed well in the secondary market.
On May 24, the A-share market adjusted, and the three major indexes of Shanghai and Shenzhen all fell significantly. Changjiang Electric Power opened slightly higher in early trading, rising as high as 26.55 yuan per share in intraday trading. In the afternoon, the share price fell back and finally closed at 26.30 yuan per share, an increase of 0.57 percent.
The K chart shows that since March 2014, Changjiang Power's share price has continued to fluctuate upward from 5.54 yuan per share to 23.34 yuan per share on the last trading day in 2023. Since the beginning of this year, share prices have continued their volatile upward trend, rising 12.68% since the beginning of the year. The current share price is up 374.73% from its periodic low at the end of March 2014.
As of May 24 this year, Changjiang Power's market capitalization was about 643.5 billion yuan, an increase of about 72.4 billion yuan from the beginning of the year.
Ten years ago, in March 2014, Changjiang Power's market capitalization was about 121.9 billion yuan, and its current market capitalization is 521.6 billion yuan higher than in 2014.
At present, in the A-share market, Changjiang Power ranks 15th in market capitalization, ranking first in the industry.
Why does the share price of Changjiang Electric Power continue to rise? The organization is optimistic about the development prospect of Yangtze River Electric Power.
The shareholdings of the top 10 shareholders of Changjiang Power have not changed significantly since 2023. In the first quarter of this year, among the top 10 tradable shareholders, except for the company's controlling shareholders who changed their company interests as a result of the exchange of exchangeable bonds, three of the other nine major shareholders increased their holdings, one was new, and the other five shares remained unchanged.
As of the end of the first quarter of this year, fund companies had a combined 1.085 billion stake in Changjiang Power, the highest since 2009, according to Wind.
In addition to the attractiveness of Changjiang Power's own rising share price, Changjiang Electric Power continues to pay a high proportion of dividends, which is also an important reason to attract capital funds.
In 2022 and 2023, Changjiang Power paid cash dividends of 20.092 billion yuan and 20.064 billion yuan respectively, accounting for 94.29% and 73.66% of the net profit of that year, respectively.
Data from the Wind system show that since its listing in 2003, Changjiang Power has distributed a cumulative cash dividend of 182.868 billion yuan, with an overall dividend rate of about 67 per cent.
According to this, the company's average annual cash dividend is 8.708 billion yuan, and in the past 10 years, the average annual dividend is more than 10 billion yuan.
In contrast, Changjiang Power rarely carries out equity refinancing.
The installed capacity of hydropower accounts for 17.01% of the whole country.
The contribution of Changjiang Electric Power, in addition to bringing rich returns to shareholders, is more important to ensure the supply of electricity and energy.
Changjiang Power, whose main business is large-scale hydropower operation, is the largest listed hydropower company in the world. By the end of 2023, the company's total installed hydropower capacity was 71.795 million kilowatts, of which domestic hydropower installed capacity was 71.695 million kilowatts, accounting for 17.01 percent of the country's installed hydropower capacity. The company manages and operates six hydropower stations, including Wudong Germany, Baihetan, Xiluodu, Xiangjiaba, three Gorges and Gezhouba, to provide high quality, stable and reliable clean energy for the society.
The company's main business continues to improve, with excellent performance in safety and environmental protection, energy supply, reservoir dispatching, lean production, technology leadership and so on. In 2023, the company's six river basin cascade power stations generated 276.263 billion kilowatt-hours of electricity, which played an important role in giving full play to the comprehensive benefits of cascade power stations, saving energy and reducing emissions, ensuring energy supply, and promoting economic and social development.
By 2023, the company has achieved the goal of "zero personal casualties and zero equipment accidents" in production safety for 14 consecutive years, the number of unplanned outages of cascade power stations has reached a record low, and key indicators such as the equivalent availability coefficient of power station equipment have reached the international advanced level.
While persisting in strengthening and optimizing the main hydropower industry, Changjiang Electric Power actively carries out strategic investment in the upper and lower reaches of the industrial chain and related emerging fields. In 2023, the company started the main project of Gansu Zhangye pumped storage power station as scheduled, fully entrusted with the operation and maintenance of Zhejiang Changlongshan pumping and storage power station, and obtained 2.4 million kilowatts of pumped storage projects in Xiuning, Anhui and Ningxiang, Hunan.
According to the Changjiang Business Daily, Changjiang Power currently holds shares in 10 power companies, including Hubei Energy, Gansu Energy, Shanghai Electric Power, Zhejiang Xinneng, Guotou Electric Power, Chuantou Energy and Laureate Electric Power.
The investment income of Changjiang Electric Power is considerable. In 2023, the company achieved an investment income of 4.75 billion yuan.
Changjiang Electric Power is also actively generating new energy sources. The company promotes the development of the integrated renewable energy base of "water scenery storage" in the lower reaches of the Jinsha River. In 2023, the first batch of new energy stations were successfully put into production, and the practice of the integration of water and scenery has been deepened.
The company said that its intelligent integrated energy business is beginning to take shape, realizing a two-level jump in the field of distributed photovoltaic and energy storage, and a number of key demonstration projects such as the first shared energy storage project in Jiangsu Province (Jiangsu Fengchu 200 MW / 400 MW hour shared energy storage project) have been completed and put into production.
Yangtze Power is also actively promoting its international layout. The company's international business is making steady progress, and overseas operation and maintenance projects are carried out smoothly and orderly. In 2023, the company will track the installed capacity of new energy of approximately 974,000 kilowatts throughout the year, successfully achieve the successful delivery of the company's first overseas-controlled new energy project-the Arrow Photovoltaic Project in Peru, and promote the continuous strengthening of the company's development, distribution and sales industrial chain in Peru., basically forming a positive development pattern of "water, wind and light" complementary businesses.
Based on the above, Yangtze Power's profitability is stable and shows a growing trend. Since 2016, the company's annual net profit has exceeded 20 billion yuan. In 2023, the net profit will be 27.239 billion yuan, a year-on-year increase of 14.81%. In the first quarter of this year, net profit was 3.967 billion yuan, continuing to maintain growth.
Since its listing in 2003, Changjiang Power has achieved a cumulative net profit of 276.331 billion yuan, with an average annual profit of approximately 13.159 billion yuan.