The "gambling" market triggered by the "8 billion pumped storage power station project" seems to be coming to an end.
In the morning trading on March 4, Ningbo Energy Group Co.Ltd(600982) ( Ningbo Energy Group Co.Ltd(600982) . SZ) opened high and went low. Finally, it closed at the limit of 7.07 yuan / share, and the seventh trading limit of "looking forward to" failed.
In the previous six trading days, Ningbo Energy Group Co.Ltd(600982) rose for six consecutive days, because of a letter of intent for cooperation of pumped storage power station project with an investment of 8 billion yuan.
three years ago, pumped storage business
According to the data, Ningbo Energy Group Co.Ltd(600982) was originally named Ningbo thermal power on July 6, 2004, and was renamed Ningbo Energy Group Co.Ltd(600982) in October 2020.
In fact, Ningbo Energy Group Co.Ltd(600982) has no pumped storage business before 2019.
In order to avoid horizontal competition, Ningbo Development and Investment Group Co., Ltd. decided to entrust all energy enterprises, including thermal power enterprises, to Ningbo Energy Group Co.Ltd(600982) , including "Ningbo Xikou pumped storage power station Co., Ltd." (hereinafter referred to as Xikou company).
On May 25, 2019, Ningbo Energy Group Co.Ltd(600982) completed the transfer of ownership of the assets such as Xikou company. Since then, there has been the business of pumped storage power station, which has been less than 3 years.
"At present, the installed capacity of Xikou company is about 80 MW. It is a small project, mainly because it was built earlier and began to be built in the 1990s." On March 4, Ningbo Energy Group Co.Ltd(600982) Board Secretary Shen Qi said in an interview with the 21st Century Business Herald reporter that Xikou company's current operation is stable, "but compared with listed companies, its assets and revenue account for a relatively small proportion."
According to the data, from 2019 to the first half of 2021, Xikou company achieved operating revenue of 984249 million yuan, 929675 million yuan and 50.015 million yuan respectively; The net profit was 174348 million yuan, 154972 million yuan and 8.7758 million yuan.
From 2019 to the first half of 2021, the operating revenue of Ningbo Energy Group Co.Ltd(600982) was 3.412 billion yuan, 4.411 billion yuan and 2.111 billion yuan respectively, and the net profit attributable to the parent company was 119 million yuan, 253 million yuan and 93 million yuan respectively.
It can be seen that Xikou company has made little contribution to Ningbo Energy Group Co.Ltd(600982) current performance.
project is still in the intention stage
Ningbo Energy Group Co.Ltd(600982) this round of crazy rise began on February 24, 2022. The stock was pulled up to the daily limit 8 or 9 minutes after the opening. Although it was opened for many times, Ningbo Energy Group Co.Ltd(600982) finally closed at 4.87 yuan / share.
Since then, on February 25 and 28, and March 1, 2 and 3, Ningbo Energy Group Co.Ltd(600982) continuously increased the limit, so that the company had to issue risk tips continuously.
From the perspective of market news, the only news that can stimulate the "six link board" of Ningbo Energy Group Co.Ltd(600982) stock price is an announcement issued by the company on the evening of February 28, which shows that, "The company signed the letter of intent for investment and construction cooperation of Ningbo Fenghua pumped storage power station project (hereinafter referred to as the" letter of intent ") with the people's Government of Fenghua District, Ningbo and East China survey, design and Research Institute Co., Ltd. of the group. The installed capacity of the project is about 1.2 million KW and the investment is estimated to be about 8 billion yuan."
A securities firm power and utility analyst told the 21st Century Business Herald that the state's approval of the "pumped storage power station project" is very strict. "First, the project should be included in the national pumped storage development plan, and then approved by the national energy administration. After being approved, the local development and Reform Commission will approve the project for a long time span."
In the interview, the 21st Century Business Herald reporter learned that Ningbo Energy Group Co.Ltd(600982) 's letter of intent is really only in the "intention stage", which is likely to be an "exclusive" agreement.
"The three of us just reached a cooperation intention. As a listed company, the disclosure of this matter is mainly to remind the risk." Shen Qi told the 21st Century Business Herald that the project, like the letter of intent for construction cooperation of Haishu Longguan pumped storage power station project signed in November last year, "has not been incorporated into the national pumped storage development plan, and there is no substantive progress. What project site selection, construction and construction are still things in the future, and now we can't talk about them at all."
For the investment of 8 billion yuan, Shen Qi said frankly that this is a preliminary speculation based on the installed capacity estimated by the local head drop. "As for how to solve the specific amount of funds when it is really implemented in the future, it is nothing more than self owned funds, creditor's rights, equity, or the introduction of strategic investors."
