Shenyang Huitian Thermal Power (000692.SZ) expects to incur a net loss of 270-370 million yuan in 2024, turning from a profit to a loss year on year.

Shenyang Huitian Thermal Power (000692.SZ) announced its performance forecast for 2024, expecting a net loss attributable to shareholders of the listed company of 270 million to 370 million yuan for the full year, turning from profit to loss compared to the previous year. During the reporting period, the company received government subsidies of nearly 200 million yuan, which is considered as non-recurring gains, increasing the net profit by approximately 200 million yuan. The government subsidies received in this reporting period decreased by about 1.118 billion yuan compared to the same period last year. In the same period last year, the company received land acquisition compensation of 671 million yuan, but there was no land acquisition business in this reporting period. During the reporting period, the company effectively reduced coal procurement costs by taking advantage of the coal long-term pricing policy. The company's coal costs in 2024 decreased by about 20% compared to the same period in the previous year.