Kyrgyzstan Electric shares additional 2 billion behind: Power investment in the northeast

Every reporter Tombellou intern Yang Jie from the Beijing financial crisis, China Electric Power Investment Group (hereinafter referred to as the CLP) finally increased investment in Kyrgyzstan electric shares (000875,SZ), and the opportunity to restructure the Northeast power market. June 15, Kyrgyzstan Electric shares announced that the Jilin Provincial Development and Reform Commission approved Jilin China Electric Power Investment Co., Ltd. to undertake a full 2 wind farm project Construction and operation (that is, changling waist well wind farm project and Changling No. 30th wind Farm project). Earlier, the company issued a stake in the issuance of additional plans, the proposed private 550 million shares, raising funds of about 2.068 billion yuan. Among them, about 1.8 billion yuan for the expansion of thermal power generating units, about 200 million yuan for investment in wind projects.　　and the actual control of the company's shares of electric power investment will be in cash for the private issue of shares of not less than 260.1 million shares.　　Reporter learned that once the above additional completion, the 2 billion yuan will become the CLP to restructure the Northeast power Market Touchstone. The average installed capacity of the Northeast power Market is much lower than that in east China, South China and other regions. "Yesterday, Wang Yonggan, secretary-general of China Electric Power Enterprise Federation, said to reporters," This is the key reason why the Chinese power Investment invests in the northeast, and will not rule out further investment.　　"The reporter learned that the CLP invested in the stake in Kyrgyzstan, its larger plot is to cultivate a strategic platform, so as to further restructure the Northeast power market." CLP Investment in July 2005, the first to take the stake in Kyrgyzstan, for 4 years, there has been no substantive restructuring action.　　Industry insiders believe that because of the lack of action by the CLP, the company's shares in recent years have been mired in the plight of long-term losses. The latest announcement of the company's shares shows that it is expected to lose 150 million yuan this January-June.　　In 2008, the operating income of 1.56 billion yuan, reduced by 14.35%, net profit loss of 440 million yuan.　　Kyrgyzstan shares in the announcement that the loss is mainly due to the state shutdown of small and medium-sized power plant policy, Kyrgyzstan Electric shares have been shut down Hunjiang Power generation company 1~4 unit A total of 250,000-kilowatt generating capacity, directly led to the 2008 settlement of electricity consumption reduction of 1.081 billion kwh, electricity revenue year-on-year reduction of 315 million yuan. "If no further measures are taken, the company will wear St's hat." The CLP will take out about $800 million in cash to subscribe for a stake in the company's shares.　　UBS Securities and electricity industry analyst Zhao said.　　From the above measures, the CLP launched both industrial strategy and capital strategy to try to save the company from long-term losses.　　"For the shares of the company, while the national emphasis on the closure of small and medium-sized power plants, but also actively expand the large power plants, which is the opportunity to expand," Zhao said. Among them, the CLP must consider two factors: first, the state does not advocate the closure of large thermal power plants, or even support; At present, the total shareholding ratio of CLP's shares in the company is about 25%, which is obviously a low percentage. If you continue to increaseWithout subscription shares, dilution will lead to a loss of Hard-won holding status, so the CLP has finally decided to take a 800 million yuan cash subscription.　　Kyrgyzstan electricity frequency financing expansion according to the planning of Jilin Provincial development and Reform Commission, Jilin Province 2008 new production unit 1.2 Million-kilowatt, 2009 about 3 Million-kilowatt units will be put into operation. In response to this, China and the CLP invest more investment to promote the rapid expansion of the four power generation projects. Once the expansion was completed in 2010, the company's production capacity was further enhanced.　　At that time, the capacity of Kyrgyzstan electric shares will increase from 850,000-kilowatt to 2.149 million kilowatts. "The four major projects have been planned for 2007 years and have not been completed because of lack of funding."　　"A person in the securities Department of Kyrgyzstan shares said.　　It is understood that Kyrgyzstan shares in September 2007 to put forward the total installed capacity of the strategic objectives of the two-time, in the overall planning, Kyrgyzstan to invest in the construction of four major generators, the total investment amounted to 9.931 billion yuan. In fact, in the context of the country's revitalization of the Northeast, industrial electricity consumption in the Northeast region is showing a big increase.　　In order to occupy the market share, Kyrgyzstan shares in addition to the financing through the issuance of additional, but also actively through the new, mergers and acquisitions, and other ways to expand their production scale.　　China electric power to restructure northeast electricity it is understood that China-electricity investment in the Northeast is currently the main assets in Liaoning Province, including Dalian, Fuxin, Fushun and other fields of several power plants.　　January 16, 2008, China Power Investment in northeast New Energy development company was established.　　May 26, 2008, China Electric Power investment Northeast Electric Co., Ltd. was set up in Shenyang ... For these initiatives, China Electric Investment Group deputy general manager Ding Zhongji pointed out: "Comprehensive integration of northeast regional assets, long-term commitment to the Northeast region of the orderly development of energy industry, this is the CLP investment planning Northeast Power Co., Ltd. to the overall listing of a consideration."　　"After increasing the stake in Kyrgyzstan, China Electric Investment Group will have the highest quality power assets in Jilin Province, broaden its platform to integrate the Northeast Strategic resources, and provide a good foundation for the northeast power market."　　In addition, the company's shares in the north-east is the only one listed companies in the northeast, objectively to make the CLP shares into the integration of the north-east resources of the Platform for the development of the business of Kyrgyzstan Electric shares brought a historic opportunity. Despite the bright future, the company still faces a $3 billion shortfall in capital. The capital pressure will further test the strategic layout of the CLP to restructure the Northeast power market.