1. Huge circulation: 1997 When Guodian Power went public, the total share capital was only 5 1 10,000 shares, and now it has expanded to173 million shares. Circulating shares12.8 million shares, but currently as high as15.4 billion shares. As you said, the company has grown by 100 times (in fact, the stock has expanded by 245 times, without adding the factor of cash dividend). That is to say, after the listing of 1997, the company happened to meet the 20 years of rapid economic development in China, which is also the 20 years of rapid expansion of the power system.

2. Rapid growth into a stable growth company: After a period of rapid development and expansion, the company's historical mission was basically completed, and it entered the "slow lane" of stable development from the "fast lane" of rapid development. For stock investors, no one wants to invest in a company whose future earnings are easy to predict. Such a company is like a "middle-aged and elderly person". Everything is basically stable, and there is nothing exciting to expect.