According to the disclosed institutional research information, on May 26, Essence Fund conducted a research on the listed company Suneng Shares (600925).
From the perspective of market performance, Suneng shares rose 1.32% in the past week and fell 1.29% in the past month.
(Data map)
According to the fund market data, Essence Fund was established on December 6, 2011. Up to now, its assets under management are 120.754 billion yuan, 146 funds under management and 29 fund managers. The fund product with the best performance in the recent year is Essence China Manufacturing Hybrid (004249), which recorded 7.18% of the income in the recent year.
The performance of the top ten products of Essence Fund in management scale is as follows:
| Fund abbreviation | Fund code | Fund type | fund manager | Scale (100 million yuan) | Annual increase and decrease (%) |
|---|
| Anxin Current Treasure B | 004167 | Currency type | Ren Bing, Zhu Luchen | one hundred and ninety-eight point five zero | two point zero eight |
| Anxin Robust Value Added Hybrid A | 001316 | mixed type | Zhang Yifei, Li Jun | one hundred and eighteen point three one | two point four |
| Anxin Robust Profit Increasing Hybrid A | 009100 | mixed type | Zhang Yifei, Li Jun | eighty-five point nine five | two point one six |
| Anxin Robust Profit Increasing Hybrid C | 009101 | mixed type | Zhang Yifei, Li Jun | fifty-six point nine three | one point eight five |
| Anxin Robust Huili holds Hybrid A for one year | 012609 | mixed type | Li Jun | forty-seven point eight three | two point four one |
| Anxin Robust Value added Hybrid C | 001338 | mixed type | Zhang Yifei, Li Jun | forty-three point seven one | one point eight nine |
| Essence Pharmaceutical Health Stock A | 010709 | Stock | Chi Chensen | thirty-three point five two | five point four one |
| Anxin Exclusive Pure Debt | 003395 | Bond type | Li Jun | thirty-two point three five | two point five |
| Anxin Robust Huili holds mixed C for one year | 012610 | mixed type | Li Jun | thirty-one point six seven | two |
| Essence Pharmaceutical Health Stock C | 010710 | Stock | Chi Chensen | twenty-nine point nine zero | four point nine |
(Data source: Flush (300033) iFinD)
Attached research content:
The main contents of communication during the activity are as follows:
Q: Does the company have brand effect in the competition of the same industry?
A: Hello! Our company started from the establishment of Xuzhou Liguo Mining Bureau by Zuo Zongtang, minister of the Westernization Movement in 1882, to the first party branch of Jiangsu industrial and mining enterprises in 1928; From entering the top 100 enterprises in China in the 1980s to creating a number of national firsts in the period of revolution, construction and reform and opening up, miners voluntarily donated the "Jiawang Miner" fighter during the War of Resistance against American Aggression and Aid Korea, took the lead in entering the economic general contracting in the 1980s, and first opened the coal price to the market in the 1990s. In the long-term development process, we have accumulated first-class mining technology, It has cultivated a first-class talent team, and many core technologies are at the leading international and domestic levels in the technical research of coal mine soft rock support, rockburst prevention, mine heat disaster management, mine ecological restoration, etc. Tianshan Mining, Zhangshuanglou Coal Mine and Guojiahe Coal Industry have built the first batch of intelligent demonstration mines. The national postdoctoral workstation has been settled in Suneng, and the first domestic million lignite unit has been settled in Suneng. After more than 140 years of experience, we have established a group of long-term loyal customers. With Jiangsu energy security as our mission, we have built an important platform for provincial energy cooperation and become an important channel for energy supply assurance. thank you!
Q: What measures does the company take to manage market capitalization?
Answer: Suneng has always adhered to the concept of focusing on the main business, taking root in the industry, improving professionalism, steady operation and standardized operation, and continued to improve the management level, development quality and sustainable development ability. In recent years, the company's production and operation have continued to be stable, asset quality has continued to improve, business quality and anti risk ability have significantly improved, and the company has maintained good profitability. In the next step, Suneng will actively respond to the complex operating situation in the capital market, comprehensively improve the level of market-oriented operation, continuously improve the management level of listed companies, and fully safeguard the legitimate rights and interests of Suneng and all shareholders. thank you!
Q: Please introduce the production capacity of the company's coal mines and the raw coal output in the first quarter.
Answer: The company now has 6 pairs of coal production mines with a production capacity of 18.3 million tons/year. In the first quarter of 2023, the output of raw coal will reach 4.7726 million tons. thank you!
Q: What is the cash dividend ratio of the company this time? Subsequent dividend plans.
Answer: The company focuses on high-quality development, fully implements the development idea of "stock efficiency improvement and incremental transformation", continuously improves profitability and capital efficiency, and has always maintained a stable cash dividend policy, giving maximum consideration to the overall interests of all shareholders and the sustainable development of the company. It is expected that the profit distribution plan for subsequent years will continue to be stable.
In order to continuously and stably repay shareholders, the company proposed to distribute cash dividends of 2 yuan (tax included) per 10 shares to all shareholders in combination with the actual situation of the company, with a total of about 1.378 billion yuan (tax included) to be distributed.
Subsequent companies will consider whether to increase the proportion of cash dividends or pay special dividends on the basis of full consideration of the overall operation, capital status and future development plans. thank you!
Q: Please introduce the layout and installed capacity of the company's power generation business?
Answer: At present, the company's thermal power business is distributed in Jiangsu (Xukuang Power Plant, Huamei Thermal Power) and Xinjiang (Aksu Thermal Power), both of which are cogeneration projects, with a total installed capacity of 1700MW.
The company accelerated the construction of Wulagai Power Plant and Baiyinhua Power Plant, the supporting power supply project for Mongolian power transmission to Jiangsu, and the construction of Neisheyanggang Power Plant in Jiangsu Province. The total installed capacity of the three power plants under construction is 4320MW.
In terms of new energy, a framework agreement has been signed with four districts and one county in Xuzhou City. The next step is to use the opportunity of enterprise land cooperation to integrate into local development and accelerate the development and construction of new energy projects.
The company will actively obtain resources from other places, strengthen communication with local governments, strive to support new energy projects, improve the scale of new energy, optimize the industrial structure, and help green transformation. thank you!
Q: What technical advantages does the company have?
A: Hello! In terms of technical research on soft rock support, rockburst prevention and control, mine heat hazard management, mine ecological restoration and other technologies, the company has many core technologies at the leading international and domestic levels, built the first intelligent comprehensive mining face in Jiangsu Province, and opened a new era of intelligent construction of Jiangsu coal mines, It has also built the first intelligent chemical working face in Baoji City of Shaanxi Province and the southern Xinjiang region of Xinjiang Autonomous Region. Zhangshuanglou Coal Mine and Tianshan Mining were listed in the national intelligent demonstration mine construction in 2021. Scientific and technological innovation has provided strong technical support for promoting high-quality development of enterprises.
The company's power generation enterprises have achieved fruitful results in the research of low nitrogen combustion, heat supply transformation, deep peak shaving, low-quality coal and sludge blending. Huamei Thermal Power Supercritical Circulating Fluidized Bed Unit has achieved a number of national leading technological achievements and won the "National Quality Engineering Award". Wulagai Power Plant under construction is the first domestic power generation project with millions of lignite units. The research and innovation of the "zero water make-up" system of the lignite units will build a national leading lignite power generation unit. thank you!
Q: In the external sales structure of the company's coal, how much is the sales volume of thermal coal under the long-term agreement? What are the main coal mines of CEA?
Answer: Suneng will produce 11.01 million tons of steam coal (thermal coal) in 2022, of which 9.963 million tons will be sold by the long-term association, accounting for 90.56%. In the first quarter of 2023, 2.689 million tons of steam coal (thermal coal) will be produced by itself, of which 2.601 million tons will be sold by the long-term association, accounting for 96.73%, mainly in Xinjiang, Shaanxi and Gansu, including Tianshan Mining, Guojiahe Coal, Baiguangou Coal, Xin'an Coal, etc. thank you!
Q: Energy storage power plants are the strategic focus this year. Please introduce the latest progress.
Answer: The company has not invested in the energy storage power station project for the time being. Investors should pay attention to the company's announcement for the future development of the company. thank you!
Q: In the power supply structure of Jiangsu, how will the utilization hours of thermal power online be affected when the proportion of wind power increases?
Answer: The total installed capacity of power generation in Jiangsu Province has reached 160 million kilowatts, and the proportion of wind power is relatively small at present (13.9%). Due to the increasing trend of power load and power consumption year by year, in order to meet the demand for power growth, 8 million kilowatts of new coal power has been approved, and 9.6 million kilowatts of wind power has been added in the 14th Five Year Plan. Although the proportion of wind power has increased, However, the impact on the utilization hours of thermal power is limited.
At the same time, in order to cope with the change, Jiangsu power plants have implemented flexible transformation. Currently, they have the ability of deep peak shaving. They actively participate in the deep peak shaving and frequency modulation of the power grid, strive to obtain more peak shaving and frequency modulation revenue, and hedge the impact of reducing power generation utilization hours on the operation. thank you!
Q: The current financing cost of Suneng shares, how much is the company's foreign borrowing?
Answer: The average loan interest rate is 2.99%. At the end of the first quarter, short-term borrowings were 3.803 billion yuan and long-term borrowings were 3.957 billion yuan. thank you!
Q: R&D expenses are rising year by year. What are the main aspects? How long will the trend continue?
Answer: From 2021-2022, the company's R&D expenditure will be 186 million yuan and 193 million yuan respectively, and from 2021-2022, the company's R&D investment will be 366 million yuan and 442 million yuan respectively. Both R&D investment and R&D expenditure will increase year by year. The company's R&D strategy focuses on independent R&D and independent innovation, relying on the platform to carry out industry university research cooperation with universities and research institutes as a supplement, and attaches great importance to the introduction and training of R&D talents and the construction of R&D platform.
With the increase of R&D expenditure, it will provide continuous impetus for the company's operation, cost reduction and efficiency increase. thank you!
Q: What is the current personnel structure of Suneng?
Answer: By the end of March 2023, there are about 16000 registered employees of Suneng, including about 9400 coal mine production, about 1300 power business, about 4200 service outsourcing and about 530 other employees. thank you;
key word:
