According to the official website of the Ministry of finance, in order to strengthen the guarantee of energy supply and promote high-quality development, the Tariff Commission of the State Council recently issued the announcement on adjusting coal import tariffs. The announcement said that from May 1, 2022 to March 31, 2023, the provisional import tax rate of zero will be implemented for all coal.
Tianfeng Securities Co.Ltd(601162) believes that with the coal price entering the downward channel, the cost pressure of thermal power generation is expected to be relieved, driving the improvement of profitability. At the same time, the market-oriented reform of electricity price continued to advance, the high price of electricity in many places rose, and some power generation costs were channeled downstream. Therefore, the performance of Q2 thermal power industry is expected to usher in marginal improvement. Under the background of the decline of thermal power investment, the coal price is expected to fall, which is expected to become a hedge in the thermal power industry.
Henan Yuneng Holdings Co.Ltd(001896) ( Henan Yuneng Holdings Co.Ltd(001896) ) company is deeply engaged in the energy industry, and the diversified development pattern has initially taken shape. It has become the only provincial capital holding comprehensive energy listed company in Henan province that integrates thermal power generation, new energy, pumped storage, coal trade logistics and comprehensive energy services.
Huadian Power International Corporation Limited(600027) ( Huadian Power International Corporation Limited(600027) ) company is one of the listed power generation companies with the largest installed capacity in China. Its power generation assets are distributed in 12 provinces, cities and autonomous regions across the country, with strong ability to resist system risks. In addition to coal-fired generator units, the installed types of power generation also include gas-fired power generation, hydropower generation and other types of units. The industrial chain is relatively perfect, and the coal industry, coal logistics and trade business are developed in the upstream.
Shanghai Electric Power Co.Ltd(600021) ( Shanghai Electric Power Co.Ltd(600021) ) power generation business is the core business of the company. By the end of 2021, the company's holding installed capacity was 190531 million KW, and clean energy accounted for 55.24% of the installed capacity, including 8.528 million kw of coal power, accounting for 44.76%, 2.8662 million kw of gas power, accounting for 15.04%, 3.7984 million kw of wind power, accounting for 19.94%, and 3.8605 million kw of photovoltaic power, accounting for 20.26%.
