Hengyun A

Guangzhou Hengyun Enterprise Group Co., Ltd. (stock abbreviation: Hengyun A, stock code: 000531) is a state-controlled listed company in Guangzhou Development District, primarily engaged in the production and sales of electricity and heat. After more than two decades of development, Hengyun has grown from a local small-scale heating and power plant with an installed capacity of 24,000 kW into a large group with electricity and heat as its main business, also venturing into finance, securities, and real estate. As of now, the company's registered capital is 685.08282 million RMB, with the main shareholding structure as follows: Guangzhou Kaide Holdings Co., Ltd. holds 26.12%, Guangzhou Electric Power Enterprise Group Co., Ltd. holds 18.35%, Guangzhou Development District Industrial Development Group Co., Ltd. holds 13.47%, and other shareholders (including public shareholders) hold 42.06%.
As one of the first listed companies in Guangzhou, Hengyun has maintained the principle of protecting investors' fundamental interests over the years, established a sound corporate governance structure, adhered to the management philosophy of "refinement, standardization, and scientific approach," continuously strengthened its core competitiveness, with a prominent main business, excellent asset quality, and clear profit model. Currently, the company is implementing the strategy of "focusing on the main business, developing selectively, and pursuing scientific development" to achieve coordinated development of electricity, finance, and real estate, constructing a rational industrial structure. It now has four coal-fired combined heat and power units with a total installed capacity of 1.08 million kW (including two 210,000-kW units and two 330,000-kW units at Hengyun D Plant), ranking second among local power generation enterprises in Guangzhou. The company is also one of the five centralized heat source supply points designated by the Guangzhou municipal government. Its annual power generation capacity is 8 billion kWh, and heating capacity is 655 tons/hour. Currently, the company holds a 24.48% stake in Guangzhou Securities, a 52% stake in Guangzhou Jinze Real Estate Development Co., Ltd., and a 7.5% stake in Yichun Rural Commercial Bank Co., Ltd.
In 2016, despite adverse macroeconomic impacts on electricity production, Hengyun overcame difficulties and achieved excellent operating results in its main power business. The annual on-grid electricity reached 4.769 billion kWh, an increase of 18.66% compared to the same period in 2015. Annual heating volume reached 2.5418 million tons, achieving 105.47% of the annual plan, a growth of 56.51% over 2015. In 2016, operating revenue reached 2.635 billion RMB, up 18.43% year-on-year, and total profit and taxes reached 945 million RMB, up 17.01% from 2015, achieving a good level within the industry. The company has been awarded honors such as "National Excellent Enterprise in the Power Industry," "Guangdong Province Civilized Unit," "Guangdong Province Integrity Demonstration Enterprise," "Guangzhou Advanced Unit for Corporate Culture Construction," "Guangzhou Harmonious Labor Relations Enterprise," "Advanced Unit for Standardized Management in the Power Industry," "Guangdong Province Independent Innovation Demonstration Enterprise," and "Development District Major Taxpayer."