Recently, Yongtai Energy (600157. SH) released its Q3 2024 report, achieving a revenue of 22.375 billion yuan in the first three quarters of 2024, an increase of 1.80% compared to the same period last year, and a net profit attributable to the parent company of 1.464 billion yuan. It is worth noting that benefiting from the reasonable range of thermal coal prices, the company's power business performance significantly improved in the first three quarters of 2024, achieving a revenue of 13.906 billion yuan, a year-on-year increase of 11.24%, and a gross profit of 2.1 billion yuan, a year-on-year increase of 79.86%.

      In terms of the power sector, Yongtai Energy adheres to the principle of "competing for every kilowatt hour of electricity", continuously optimizes its power generation strategy, actively competes for power generation and increases the amount of electricity connected to the grid, and continuously reduces fuel costs, achieving remarkable results. Data shows that from January to September 2024, Yongtai Energy completed a cumulative power generation of 31.489 billion kilowatt hours, an increase of 3.189 billion kilowatt hours or 11.27% year-on-year, setting a new historical high for the same period; The sales of electricity reached 29.853 billion kilowatt hours, an increase of 11.35% compared to the same period last year. Among them, in August 2024, Zhangjiagang        Shazhou Power completed a power generation of 1.98 billion kilowatt hours, and Yuzhong Energy completed a power generation of 1.36 billion kilowatt hours, both breaking records since their commissioning, providing strong energy guarantees for the local economy to recover and improve.

     At the same time, in order to increase operating revenue, the company continues to expand into the heating market. Data shows that from January to September 2024, the company's affiliated power enterprises provided a total of 18.3225 million GJ of external heating, an increase of 3.6397 million GJ compared to the same period last year, further increasing the heating capacity to enhance the company's overall revenue. It is reported that Yuzhong Energy, a subsidiary of the company, actively promotes the investment of the Aviation Port Heating Company in adding 175MW heating network heaters to further release the heating capacity of one million kilowatt units. After being put into operation, it can further release the second phase heating capacity of 175MW and increase the heating area by 3.5 million square meters; Zhoukou Longda has completed the heating renovation work for Unit # 1, with an additional heating capacity of 420MW; Zhangjiagang Huaxing Electric Power Co., Ltd. has completed the construction of the Shenghong steam supply line and is currently actively promoting the new combined line heating network project, which is expected to be completed and put into operation in November; The Erling Line construction project of Danyang Zhongxin Huahai Clean Energy Co., Ltd. is expected to be completed and put into operation before the end of the year; After the above project is put into operation, it will further increase the company's market share in the heating industry.

       Yongtai Energy is firmly committed to the development strategy of "coal-fired power as the foundation and energy storage as the wing", constantly actively exploring and developing the energy storage field. Currently, the company is orderly promoting the strategic layout of the entire vanadium liquid flow energy storage industry chain, relying on the advantages of upstream vanadium ore resources to create high-quality electrolyte suppliers.

       It is reported that the Nanshan integrated photovoltaic energy storage power station, which is the first independent EPC general contracting project of the company's subsidiary Detai Energy Storage, passed a 72 hour trial operation and was officially put into operation on September 29, 2024, marking the official landing of the company's 4-hour all vanadium flow battery energy storage project. In addition, the DeTai Energy Storage 250kW/1000kWh Vanadium Liquid Flow Demonstration Project was officially put into operation in August.

      The first phase of the company's all vanadium flow battery energy storage project, a 3000 ton/year high-purity vanadium pentoxide beneficiation and smelting production line, and the first phase of a 300MW/year new generation high-capacity all vanadium flow battery production line, are continuously optimizing their production line construction based on technological innovation achievements. They are applying advanced short process technology to directly prepare electrolytes on site, effectively reducing costs. Relying on core technology and research and development advantages, the company continues to carry out stack iteration upgrades, and the development of 32kW vanadium battery stacks has been iterated to version 1.3.

      In the future, with the accelerated construction of the energy storage sector and the continuous landing of energy storage projects, it will bring greater growth space for the company's performance growth.

Based on multiple benefits, Yongtai Energy has been continuously increasing its holdings by management personnel in recent years. According to the announcement, on September 12, 2024, the company completed its seventh stock increase plan ahead of schedule, with a total increase of 14050000 shares and a total transaction amount of 15159555 yuan. This marks the firm confidence of the company's core management in the future development of the company. Recently, Yongtai Energy has increased the per share distribution ratio of its 2023 profit distribution plan. The cash dividend per share has been increased from 0.0055 (including tax) to 0.00556 yuan (including tax), which is conducive to enhancing public investors' confidence in the company, promoting the reasonable return of the company's stock value, and effectively protecting the legitimate rights and interests of all shareholders.