Jiangsu Sunshine (600220): Huangtang Thermal Power Co., Ltd., A Holding Subsidiary, Stopped Production

Jiangsu Sunshine (600220) announced on the evening of the 5th that huangtang thermal power, a holding subsidiary, would stop production on February 6. In 2019, the operating revenue of huangtang thermal power is 413 million yuan, accounting for 17.60% of the company's total revenue, and it contributes 62.44 million yuan of net profit to the company, accounting for 89.10% of the company's net profit. After the shutdown, huangtang thermal power will receive compensation income of 22 yuan per ton of steam (excluding tax). According to the estimation of steam sales in 2020, the annual income is about 35.64 million yuan, and the annual profit is about 21 million yuan. Affected by the actual sales volume of steam, the impact on the company's future revenue and profit is uncertain.