Gelonghui, December 12 | Huatai Securities Research Report pointed out that Jidian Co., Ltd. (000875.SZ) completed a fixed increase in capital raising of 4.185 billion yuan. The decline in the balance ratio led to a reduction in financial expenses and raised the company's 2024-26 net profit forecast for the year 2024-26. The high yield of the project hedges the potential risk of fluctuations in electricity prices, and the company's green power installed capacity is expected to grow at high quality. Profitability is expected to continue to increase, and cash flow improvements to increase capital reserves. Maintain an “Overweight” rating. This fixed capital increase will help the company reduce the level of leverage while expanding the scale of the project. The balance ratio is expected to decline year by year in 2024-26, to 69%/65%/63%, respectively. Financial expenses are second only to electricity and coal procurement costs in the company's variable costs. In 2021-23, financial expenses accounted for 12% to 14% of total operating costs; as the debt ratio declines, the company's financial expenses are expected to decrease simultaneously, thereby increasing profit levels.