Xichang Electric Power (600505.SH) expects net profit of about 5 million yuan for the first three quarters to turn a year-on-year loss into profit

According to Zhitong Finance App News, Xichang Electric Power (600505.SH) issued an announcement. According to preliminary estimates by the finance department, the company's net profit loss is estimated to be about 7 million yuan in the 1st to 3rd quarter of 2024, a reduction of about 40 million yuan compared with 48.96 million yuan in the same period last year; net profit attributable to shareholders of listed companies was about 5 million yuan, compared with 32.54 million yuan in the same period last year, a reduction of about 37 million yuan. Net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss is about 11 million yuan.

The main reasons for the changes in the company's performance during the reporting period: First, direct electricity sales in the power supply chain increased 8.56% year on year; second, due to factors such as incoming water from in-grid power stations compared to the previous year, feed-in electricity from private power stations increased 29.91% year on year, in-network small hydropower feed-in electricity increased 27.06% year on year, and outsourced large grid electricity volume fell 8.28% year on year, affecting the 10.32% year-on-year decrease in electricity purchase costs; third, it was not affected by factors such as normal operating costs, financial expenses, and upstream reservoir water storage capacity after the Kangwu Power Station of the holding subsidiary Guzeng Company was put into operation Due to expectations.