Jiangxi Ganneng Co., Ltd. (000899)

Jiangxi Ganneng Co., Ltd. (000899)

Jiangxi Ganneng Co., Ltd., established in November 1997, is the only listed power enterprise in Jiangxi Province. The company's main business scope is thermal power, hydropower, energy-saving project development, boiler installation and maintenance.

Relying on the two major shareholders, Jiangxi Investment Group Corporation and Jiangxi electric power company, which are large enterprise groups engaged in power production, operation and management in Jiangxi Province, the company has formed a generator assembly capacity of 510mw through three stages of internal integration, active consolidation and stable development, including 470MW of thermal power installation capacity, 40mW of newly added hydropower installation capacity, and 510mw of power generation capacity In addition, the installed capacity of hydropower under construction is 60MW, and the development pattern of combining water and fire and focusing on electricity is also presented.

Jiangxi Ganneng Co., Ltd. is jointly established by Jiangxi investment group company and Jiangxi electric power company. It was issued and listed in November 1997 and is the only electric power listed enterprise in Jiangxi Province at present (in October 2007, Jiangxi investment group company transferred all the shares held by Jiangxi electric power company, holding 58.43% of the total shares of the company, being the controlling shareholder of the company). The company's main business scope is thermal power, hydropower, energy-saving project development, boiler installation and maintenance. Since its listing, the company has been growing through three stages of internal integration, active consolidation and stable development. From the initial installed power generation capacity of 250MW to the current installed power generation capacity of 1500MW, including thermal power installed capacity of 1400mw and hydropower newly installed capacity of 100MW, forming a diversified development pattern of simultaneous development of hydro thermal power and electricity. As of June 30, 2008, the total assets of the company is 6759.6246 million yuan, and the net assets is 1410.2587 million yuan. The company has one wholly-owned thermal power plant, two wholly-owned hydropower plants, and seven other joint-stock companies. The company adheres to the operation and development strategy of focusing on electricity, actively makes itself better and stronger, and strives to build a first-class power listed company. On the one hand, excellent power assets have been injected one after another. Since the completion of the reform of non tradable shares at the end of March 2006, in accordance with the relevant commitments of the share reform, through the integration with the high-quality power assets owned by the major shareholders, we have continuously improved and optimized the quality of the company's main business assets, and enhanced the overall strength of the company. In October 2006, Jiangxi Fengcheng phase II Power Generation Co., Ltd. was established with 50% investment from Jiangxi Investment Group Co., Ltd. the two 700 MW supercritical units of the company were connected to the grid in December 2006 and May 2007 respectively, becoming the largest thermal power plant with single unit capacity in Jiangxi and even central China. On the other hand, we will gradually peel off the small thermal power plants that are facing shutdown, so as to transform the company. In September 2007, the company transferred all the assets of the thermal power unit (200MW) of its Xinyu power generation branch to the unrelated third party; In July 2008, through negotiation with the controlling shareholder, the company and the controlling shareholder implemented major asset replacement: the whole assets of Pingxiang Power Plant (125 MW + 135 MW) owned by the company were transferred to the controlling shareholder, and the controlling shareholder transferred the total assets of Jiangxi Fengcheng phase II Power Generation Co., Ltd. (2 MW) × Jiangxi Fengcheng phase II Power Generation Co., Ltd. was changed into a wholly-owned subsidiary of the company (now renamed "Jiangxi Ganneng Fengcheng phase II power plant"). The company adheres to the strategic thinking of resource conservation and environmental friendliness. While actively developing traditional power projects, it has determined the overall strategic goal of taking new energy as a breakthrough and public utilities as a supplement. It has participated in the development of Jiangxi high tech Industry Investment Co., Ltd., Jiangxi Changtai Expressway Co., Ltd Investment and construction of Taihao Software Co., Ltd. In the new era, the company is adhering to the spirit of "unity, integrity, pragmatism and innovation", and is in good order and management. While doing a good job in material civilization, we must conscientiously grasp the building of spiritual civilization and political civilization. The company has won many "100 Chinese mainland listed companies sixty-first", "a class a tax credit unit in Nanchang", and "a civilized unit of the city". "Nanchang high tech Zone advanced enterprise", "provincial state tax bureau special tax credit enterprise" and other honors.

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