The hottest coal price makes 15 household applianc

2022-08-06
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According to rough statistics, as of August 9, the performance of 15 home appliance enterprises in the first half of the year had declined collectively, of which 6 were expected to have a net profit loss

power enterprises cry, coal enterprises laugh, and vice versa. For a long time, the contradiction between coal and electricity has not been resolved. In the first half of this year, the sharp rise in coal prices caused the power enterprises to fall into a large area of losses and continue to intensify

coal power joint operation is becoming the main direction of coal power reform

recently, Shenhua and Guodian, which have been suspended for more than two months, announced that the main business of the subject asset to be restructured is power production and operation, and the counterparty to be restructured is a large state-owned enterprise in the energy industry

the industry believes that the merger of Shenhua Guodian will mean the beginning of the coal power pool of central enterprises, which will be the basic strategy for the integration of the coal power industry

15 the medium-term performance of household appliance enterprises declined collectively

in the first half of this year, due to the rise in coal prices, the performance of electricity enterprises was not optimistic

according to the statistics of flush data in securities, as of August 9, a total of 15 home appliance enterprises have released the semi annual performance forecast and interim report of 2017. The net profits of these 15 household electrical appliance enterprises all fell in parallel with the utilization research; Among them, 6 companies, including Yuneng holdings, Changyuan power and Xinneng Taishan, are expected to have net profit losses

according to the semi annual report issued by Shennan power a, the net profit loss attributable to the shareholders of the listed company was 22.6292 million yuan, and the earnings per share was -0.04 yuan, a year-on-year decrease of about 59%

it is expected that the net profit attributable to the shareholders of the listed company in the first half of the year will decrease by 320% to 325% year on year. The loss in the same period of last year was 141.5604 million yuan. The main reason is that the purchase price of coal increases, resulting in an increase in the cost of coal

Changyuan power estimated that the net profit loss attributable to the shareholders of the listed company in the first half of the year was 80.5 million yuan to 149.5 million yuan, a year-on-year decrease of 126.34% to 148.91%

in this regard, the announcement said that the company's performance in the reporting period decreased significantly compared with the same period of the previous year, and the operating performance is expected to be a loss. The main reason is that during the reporting period, affected by the continuous promotion of the supply side reform by the state, the coal supply continued to be tight, the overall coal price remained high, and the unit price of the company's comprehensive standard coal into the furnace rose sharply year-on-year, resulting in a year-on-year increase in the company's fuel cost and a year-on-year drop in operating

Wanneng power also said that the coal price increased significantly compared with the same period last year, resulting in a loss in the company's main business thermal power business. It is expected that the company will lose 43million yuan to 66million yuan in the first half of the year

recently, Huaneng International released its 2017 semi annual report. In the first half of the year, the company achieved a revenue of 71.434 billion yuan, an increase of 11.36% year-on-year; The net profit was RMB 788million, a year-on-year decrease of 89.88%

Huaneng International's main business is thermal power. Its operation is released by the administrative means of power supply. LDQ can directly enjoy the comprehensive after-sales service uo provided by Lenovo; The power of famine rdquo; The demand environment and coal price fluctuation have a great impact. In the first half of the year, the coal price remained high, dragging down the company's performance

in the first half of 2017, the average price index of 5500 kcal thermal coal around Bohai Sea was 590 yuan/ton, compared with 387 yuan/ton in the same period of 2016, an increase of 52.45% year-on-year. The rise in coal prices has significantly reduced the company's gross profit margin. In the first half of the year, the company's gross profit margin was only 11.49%, down about 17% compared with the same period last year. Looking back at more than 500 exhibitors at home and abroad

in the first half of the year, the situation of the whole thermal power industry was quite grim

a few days ago, China Electricity Council released the analysis and forecast report on the national power supply and demand situation in the first half of 2017, which said that the coal supply balance was tight, the cost of power coal for coal power enterprises rose sharply, and the business situation was grim. The balance of coal supply and demand across the country is tight, inventories in all links are declining, the price of power coal is rising at a high level, the fuel cost of coal and power enterprises is rising sharply, most power generation groups continue to suffer overall losses in the coal and power sector, and the benefits of the power generation industry are declining significantly

it should be mentioned that since the NDRC issued a document in June 2017, the policy of raising the electricity price on the benchmark of coal-fired power plants has continued to be implemented. Up to now, nearly 20 provinces have raised the electricity price

some analysts said that the increase of electricity price can improve the performance of power enterprises to some extent. However, due to the high cost caused by the rise of coal price, it is difficult for power enterprises to improve their performance this year

coal power joint operation may be a good way to get rid of difficulties

coal power contradiction has a long history. The seesaw of "coal and electricity" is always difficult to balance. Either you or he loses money. Therefore, coal power pool is becoming the main direction of coal power reform

on the evening of August 4, China Shenhua announced that the controlling shareholder Shenhua Group Co., Ltd. planned to plan major events involving the company, which may constitute a major asset transaction involving the company, and must seek the opinions of relevant ministries and commissions, which is a major unprecedented event

at the same time, the announcement issued by Guodian power shows that the controlling shareholder, China Guodian Corporation, plans to plan major events involving the company that must be approved in advance according to law, and such major events may constitute a major asset restructuring

it is worth noting that both parties mentioned in the announcement that the main business of the subject asset to be restructured is power production and operation, and the scope of the subject asset has not been finalized. The counterparty of the restructuring is proposed to be a large state-owned enterprise in the energy industry, and the actual controller is the state owned assets supervision and Administration Commission of the State Council

it is also reported that the merger plan of Shenhua Guodian has been submitted to the State Council and is awaiting approval

Haitong Securities believes that the merger of Shenhua Guodian will mean the beginning of the central enterprise coal power joint venture, and the valuation system will be switched to a public utility company. It is expected that after Shenhua's restructuring, it will gain a greater say in the field of coal and electricity, which is conducive to the further expansion of its business

Anxin international also pointed out that at present, when the government dominates the electricity price, coal enterprises and power enterprises are separated at both ends of the seesaw. High coal prices lead to power losses, while low coal prices lead to coal losses, which is not conducive to the stability of enterprise profits. Shenhua has maintained a stable profit level in the past few years due to its coal power joint venture strategy, setting a benchmark for the industry. Therefore, coal power pool will be the basic strategy for the coal power industry integration, and the merger of Shenhua and Guodian will become a demonstration case of industry integration

since this year, the contradiction between coal and electricity has become increasingly acute due to the rise of coal prices

recently, 16 ministries and commissions jointly issued the opinions on promoting supply side structural reform to prevent and resolve the risk of excess capacity of coal and electricity, which stressed that they should encourage and promote the restructuring and integration of large power generation groups, encourage upstream and downstream enterprises in the coal, electricity and other industrial chains to give play to the synergy of the industrial chain, strengthen the medium and long-term cooperation between coal and electricity enterprises, and stabilize the coal market price; Support advantageous enterprises and major enterprises to integrate coal power resources through asset restructuring, equity cooperation, asset replacement, free transfer, etc

some coal industry analysts told securities that the coal power pool can not only save costs, but also reduce homogeneous competition. On the one hand, it can solve the problem of coal power capacity removal, on the other hand, it can solve the problem of huge losses of thermal power and other enterprises

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