2025年首十一个月附属电厂累计售电量达到204,885,875兆瓦时，同比增加了7.1%，其中，附属风电场 累计售电量达到48,340,837兆瓦时，同比增加了15.8%；附属光伏电站累计售电量达到12,069,023兆瓦 时，同比增加了55.4%。 格隆汇12月11日丨华润电力(00836.HK)公告，2025年11月附属电厂售电量为18,866,666兆瓦时，同比增 加了8.6%，其中，附属风电场售电量达5,260,109兆瓦时，同比增加了29.5%；附属光伏电站售电量达 1,020,094兆瓦时，同比增加了71.2%。 ...

2025年首十一个月附属电厂累计售电量达到204,885,875兆瓦时，同比增加了7.1%，其中，附属风电场 累计售电量达到48,340,837兆瓦时，同比增加了15.8%;附属光伏电站累计售电量达到12,069,023兆瓦时， 同比增加了55.4%。 智通财经APP讯，华润电力(00836)公布，2025年11月附属电厂售电量为18,866,666兆瓦时，同比增加了 8.6%，其中，附属风电场售电量达5,260,109兆瓦时，同比增加了29.5%;附属光伏电站售电量达1,020,094 兆瓦时，同比增加了71.2%。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 承董事會命 華潤電力控股有限公司 主席 史寶峰 香港，2025年12月11日 （股份代號：836） 2025年11月電廠售電量數據 所附的新聞稿載列華潤電力控股有限公司（「本公司」）及其附屬公司2025年11 月電廠售電量數據。新聞稿載列的資料可能為股價敏感資料。因此，本公告所 附的新聞稿乃按《證券及期貨條例》第XIVA部發出。新聞稿載列的資料根據內 部管理記錄編製，未經外聘核數師審核或審閱。 本公告乃本公司根據《證券及期貨條例》第XIVA部發出。 本公告載列的資料根據內部管理記錄編製，未經外聘核數師審核或審閱，因此該 等數據僅供投資者參考。 投資者在買賣本公司股份時務必審慎行事。 （根據公司條例在香港註冊成立的有限責任公司） 於本公告日期，本公司的董事會包括四名執行董事，即史寶峰先生（主席）、王波 先生、宋葵先生及劉秀生先生；三名非執行董事，即周波先生、李傳吉先生及曾 俊先生；及六名獨立非執行董事，即 ...

Core Viewpoint - China Resources Power (00836.HK) announced the issuance of a new tranche of perpetual corporate bonds aimed at professional investors, with a total issuance amount of 1.8 billion yuan and a coupon rate of 3.93% [1] Group 1 - The company will pay interest and principal for the bonds on December 12, 2025, covering the period from December 12, 2024, to December 11, 2025 [1] - The bond is referred to as "22 China Resources Y4" with the code 148144.SZ [1]

华润电力(00836)发布公告，华润电力投资有限公司(以下简称"发行人"或"公司")2022年面向专业投资者 公开发行可续期公司债券(第三期)(品种二)将于2025年12月12日支付自2024年12月12日至2025年12月11 日期间(以下简称"本年度")的利息和本期债券本金。本期债券简称"22华润Y4"，债券代码148144.SZ， 票面利率为3.93%，发行总额为18亿元。 ...

智通财经APP讯，华润电力(00836)发布公告，华润电力投资有限公司(以下简称"发行人"或"公司")2022 年面向专业投资者公开发行可续期公司债券(第三期)(品种二)将于2025年12月12日支付自2024年12月12 日至2025年12月11日期间(以下简称"本年度")的利息和本期债券本金。本期债券简称"22华润Y4"，债券 代码148144.SZ，票面利率为3.93%，发行总额为18亿元。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 海外監管公告 本海外監管公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 以下為華潤電力控股有限公司（「本公司」）就本公司全資附屬公司華潤電力投資有 限公司於2025年12月10日在深圳證券交易所網站(http://www.szse.cn)刊發的資料 全文，僅供參閱。 承董事會命 華潤電力控股有限公司 主席 史寶峰 香港，2025年12月10日 於本公告日期，本公司的董事會包括四名執行董事，即史寶峰先生（主席）、王波 先生、宋葵先生及劉秀生先生；三名非執行董事，即周波先生、李傳吉先生及曾 俊先生；及六名獨立非執行董事，即楊玉川先生、梁愛詩女士、錢果豐博士、蘇 澤光先生、陳克勤先生及陳勇先生。 （根據公司條例在香港註冊成立的有限責任公司） （股份代號：836） 债券代码：148144.SZ 债券简称：22华润 Y4 华润电力投资有限公司 2022 年面向专业投资者公开发行可续期公司债券（ ...

Investment Rating - The report provides a positive investment outlook for various sectors within the energy industry, particularly highlighting opportunities in hydropower, thermal power, nuclear power, green energy, and gas companies [11][13]. Core Insights - The mechanism electricity pricing results across multiple regions are approaching their upper limits, indicating strong demand and government support for renewable energy projects [4][7]. - Natural gas prices in Europe are declining, while U.S. gas prices have reached a new high for 2023, driven by increased heating demand due to cold weather [13][20]. - The report emphasizes the importance of operational efficiency in renewable energy projects, as profitability varies significantly across different regions [10][11]. Summary by Sections 1. Electricity Pricing - Recent mechanism electricity pricing results show that several regions, including Hebei and Ningxia, have prices close to the upper limits, reflecting strong demand and sufficient mechanism electricity indicators [4][8]. - The competitive pricing results indicate a disparity based on local consumption capacity and policy direction, with some provinces achieving significantly lower prices due to weaker demand [9][10]. 2. Natural Gas Market - U.S. Henry Hub spot prices reached $5.19/mmBtu, marking a 12.91% increase week-on-week, while European gas prices, such as the TTF, have seen a decline [13][20]. - The report notes a 1.3% year-on-year decrease in China's natural gas consumption in October, with expectations for growth in the upcoming winter months due to heating demand [30][32]. 3. Investment Recommendations - Hydropower: Favorable conditions for winter and spring generation, with recommendations for companies like Yangtze Power and Guodian Power [11]. - Thermal Power: Companies with diversified income sources are recommended, including Guodian Power and Inner Mongolia Huadian [11]. - Nuclear Power: Continued growth expected with new approvals, suggesting a focus on China Nuclear Power and China General Nuclear Power [11]. - Green Energy: Increased stability in project returns with recommendations for companies like Xintian Green Energy and Longyuan Power [11]. - Gas Companies: Recommendations include Kunlun Energy and New Hope Energy, benefiting from cost reductions and improved profitability [32].

Investment Rating - The report maintains a positive outlook on the public utility and environmental sectors, particularly in electricity and natural gas [3][4]. Core Insights - The report highlights significant regional differences in mechanism electricity pricing, with recent auction results approaching upper limits across multiple provinces, indicating strong demand and government support for renewable energy projects [4][10]. - Natural gas prices in Europe continue to decline, while U.S. prices have reached a new high for 2023, driven by increased heating demand due to cold weather [14][21]. - The report emphasizes the importance of refined operational strategies for power stations, as profitability varies significantly across regions and projects [11][12]. Summary by Sections 1. Electricity - Recent mechanism electricity auction results show prices close to upper limits in regions like Hebei and Ningxia, with significant volumes of wind and solar energy being auctioned [8][9]. - The report notes that the differences in mechanism electricity pricing reflect local consumption capabilities and policy directions [10][11]. 2. Natural Gas - U.S. Henry Hub spot prices reached $5.19/mmBtu, a 12.91% increase week-on-week, while European gas prices, such as TTF and NBP, have seen declines of 5.57% and 9.96% respectively [14][15]. - The report indicates a 1.3% year-on-year decline in China's apparent natural gas consumption in October, with expectations for growth in Q4 due to seasonal heating demands [31][33]. 3. Investment Recommendations - Recommendations include investing in hydropower companies like Yangtze Power and Guodian Power, as well as coal-fired power companies such as Guodian Power and Inner Mongolia Huadian [12]. - For natural gas, the report suggests focusing on integrated companies like Kunlun Energy and New Hope Energy, which are expected to benefit from cost reductions and improved profitability [33][34].

Core Insights - China Resources Power Holdings Company Limited (CR Power) is one of the most efficient and profitable integrated energy companies in China, involved in various sectors including wind power, thermal power, photovoltaic power, hydropower, distributed energy, electricity sales, and comprehensive energy services [1][6] - CR Power is a subsidiary of China Resources Group, a diversified enterprise with over 80 years of history, ranking 72nd in the 2024 Fortune Global 500 [3][8] - The company operates across all 31 provinces, autonomous regions, municipalities, and special administrative regions in China, emphasizing its commitment to green energy and improving the quality of life [1][6] Company Overview - CR Power was established in August 2001 and listed on the Hong Kong Stock Exchange in November 2003 under stock code 836 [1][6] - The parent company, China Resources Group, has a diverse business portfolio covering six major sectors: consumer goods, integrated energy, urban construction and operation, health care, industrial finance, and technology and emerging industries [3][8] - CR Power's Zhejiang Company, established in January 2021, manages various energy projects including thermal, wind, and photovoltaic power, as well as electricity sales [3][8] Employment Opportunities - CR Power is actively recruiting for various positions in Zhejiang, including roles in electrical engineering, project management, and safety supervision, with requirements typically ranging from 2 to 5 years of experience and a bachelor's degree [4][5][9][10]