股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年8月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 華潤電力控股有限公司 | | | 呈交日期: | 2025年9月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00836 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 5,177,057,740 | | 0 | | 5,177,057,740 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | ...

Group 1 - The core point of the article is that Run Electric Fuel (Shenzhen) Co., Ltd. has increased its registered capital from 100 million RMB to 500 million RMB, representing a 400% increase [1] - The company was established in 2023 and is fully owned by China Resources Power Investment Co., Ltd. [1] - The business scope of the company includes the sale of coal and related products [1]

Core Viewpoint - The Guangdong Marine Energy Industry Technology Innovation High-Quality Development Seminar highlighted Guangdong's achievements in marine energy development and its commitment to exploring new technologies, models, and business formats for high-quality growth in the marine economy [1][2]. Group 1: Marine Economic Development - Guangdong aims to transform its marine resource advantages into developmental strengths, contributing to the creation of a "new maritime Guangdong" and promoting high-quality economic and social development [1]. - The provincial government has set a target for the marine production value to exceed 2 trillion yuan by 2024, with traditional marine industries expected to grow by 7.5% and emerging marine industries by 8.3% [2]. - The offshore wind power sector has seen significant growth, with installed capacity reaching 12.51 million kilowatts, a tenfold increase since the end of the 13th Five-Year Plan, making Guangdong a national leader in this field [2]. Group 2: Technological Innovation - Guangdong is implementing an innovation-driven development strategy, establishing national-level energy research and innovation platforms to enhance collaborative development between industry, academia, and research [3]. - Notable technological advancements in offshore wind power include the establishment of the Yangjiang 500 kV offshore wind power reactive power compensation station and the world's first ultra-deepwater drilling vessel, "Dream," which signifies a breakthrough in deep-sea resource development [3][4]. - The province is also pioneering in deep-sea oil and gas development with the first fully green-designed offshore oil field and the first offshore CCUS project, promoting a new model of marine energy recycling [3]. Group 3: Energy Integration Models - Guangdong is exploring new paths for the integrated development of marine energy, focusing on a "green energy + blue granary" model that reshapes the marine economy [6]. - The province has developed a series of innovative projects, including the world's largest anti-typhoon wind-fish integration platform and the first semi-submersible wave energy farming platform, which contribute to a new industrial chain that integrates wind, fishery, and tourism [6]. - China General Nuclear Power Group is actively involved in exploring "energy +" integration models, including wind-fish integration and comprehensive energy islands, providing new solutions for marine economic development [6]. Group 4: Strategic Collaborations - The seminar featured several strategic collaborations, including projects focused on green ship fuel production and supply, offshore wind power-driven hydrogen production, and anti-typhoon floating photovoltaic demonstration projects [7]. - These collaborations reflect Guangdong's leading role in energy technology innovation and industrial synergy, contributing to China's modernization efforts [7]. - The event also included thematic reports and project presentations aimed at advancing Guangdong's marine energy industry to new heights [7].

Core Viewpoint - The company reported a decline in profit for the first half of 2025, primarily due to one-time non-cash losses and the impact of coal business, but core business performance remains resilient [1][3]. Financial Performance - In H1 2025, the company achieved revenue of HKD 50.267 billion, a year-on-year decrease of 1.67% [1]. - Shareholder profit was HKD 7.872 billion, down 15.92% year-on-year, while core profit attributable to shareholders was HKD 8.278 billion, a slight increase of 0.1% [1]. - The basic earnings per share were HKD 1.52, a decrease of 22.05% year-on-year [1]. - The return on equity (ROE) was 7.46%, down 2.89 percentage points year-on-year [1]. - The company declared a dividend of HKD 0.356 per share, with a cash dividend payout ratio of 23.42% [1]. Business Segments Coal Power Business - In H1 2025, coal power sales volume decreased by 1.4% due to a temporary slowdown in electricity demand and competition from new energy installations [3]. - The average coal price for the company's coal-fired power plants decreased by 11.8% to HKD 823.8 per ton, leading to a significant recovery in profitability [3]. - Core profit from pure coal power business increased by over 20% year-on-year, indicating a notable recovery [3]. Renewable Energy Business - In H1 2025, sales volume for wind and solar power increased by 15.5% and 31.3% respectively, contributing to a core profit of HKD 5.637 billion, up 1.5% year-on-year [4]. - The average selling price for wind and solar power decreased by 11.0% and 6.1% respectively, primarily due to the commissioning of grid parity projects [4]. - The company expects stable growth in renewable energy business driven by continuous installation and stable utilization hours [4]. Capacity and Projects - As of June 2025, the company's installed capacity reached 78,094 MW, with coal power accounting for 50.1% and renewable energy accounting for 49.9% [2]. - The company plans to add 10,000 MW of wind and solar capacity in 2025, with a capital expenditure of HKD 56.8 billion allocated for project development [2]. - The company has a robust pipeline of projects, with significant capacity under construction and approved for wind and solar energy [2]. Future Outlook - The company forecasts revenue growth of 1.68%, 6.17%, and 3.91% for 2025-2027, with net profit expected to fluctuate [5]. - The company maintains a balanced approach to shareholder returns and development, emphasizing a steady dividend policy [4].

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。 （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） 海外監管公告 本公司全資附屬公司 華潤電力投資有限公司 2025年半年度財務報告公告 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。 提述華潤電力控股有限公司（「本公司」）於2021年5月6日就華潤電力投資有限公 司（「華潤電力投資」）公開發行2021年公司債券（第一期）（「2021年公司債券」）的 公佈，本公司分別於2022年9月1日、2022年9月26日及2022年12月12日就華潤電 力投資公開發行2022年可續期公司債券（第一期）、（第二期）及（第三期）（「2022 年可續期公司債券」）的公佈，本公司分別於2024年8月12日、2024年9月19日就 華潤電力投資於中華人民共和國銀行間市場發行2024年中期票據（第一期）及（第 二期）（「2024年中期票據」）的公佈，本公司分別於2025年4月17日 ...

Core Viewpoint - China Resources Power has established a new wind power company in Heze with a registered capital of approximately 460 million RMB [1] Company Summary - The newly formed company is named China Resources Wind Power (Heze Mudan District) Co., Ltd. and is fully owned by China Resources Power New Energy Investment Co., Ltd. [1] - The legal representative of the new company is Zhao Baojian [1] - The business scope includes wind power generation technology services, solar power generation technology services, and investment activities using self-owned funds [1]

Core Viewpoint - Recently, China Resources Wind Power (Heze Peony District) Co., Ltd. has been established with a registered capital of approximately 460 million yuan, focusing on wind and solar power technology services and investment activities [1] Company Summary - The legal representative of the newly established company is Zhao Baojian [1] - The company is wholly owned by China Resources Power New Energy Investment Co., Ltd. [1] Industry Summary - The company's business scope includes wind power generation technology services and solar power generation technology services [1] - The establishment of this company indicates a continued investment and focus on renewable energy sources within the industry [1]

Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a projected stock price increase of 5% to 15% relative to the industry index over the next six months [5]. Core Views - The company's core business remains resilient despite a decline in net profit due to one-time non-cash losses and coal business impacts. The core profit showed a slight increase of 0.1% year-on-year, reflecting the robustness of the main operations [2][11]. - The company has a solid project reserve and orderly power generation construction, with a total installed capacity of 78,094 MW as of June 2025, split between thermal power (50.1%) and renewable energy (49.9%) [3]. - The company plans to invest HKD 56.8 billion in capital expenditures in 2025, focusing on renewable energy and thermal power projects, which will support future earnings growth [3][11]. Financial Performance - For the first half of 2025, the company reported a revenue of HKD 50.267 billion, a year-on-year decrease of 1.67%, and a net profit attributable to shareholders of HKD 7.872 billion, down 15.92% year-on-year [1][2]. - The company's earnings per share (EPS) for the first half of 2025 was HKD 1.52, a decrease of 22.05% year-on-year, with a return on equity (ROE) of 7.46%, down 2.89 percentage points year-on-year [1][2]. - The projected revenue for 2025 is HKD 107.056 billion, with a year-on-year growth of 1.68%, and a net profit of HKD 14.288 billion, reflecting a decline of 2.91% year-on-year [12]. Business Segments - The thermal power segment experienced a core profit of HKD 26.41 billion in the first half of 2025, a decrease of 2.7% year-on-year, but excluding coal impacts, the core profit from pure thermal power increased by 20.6% [2][10]. - The renewable energy segment saw significant growth, with wind and solar sales volumes increasing by 15.5% and 31.3% respectively in the first half of 2025, contributing to a core profit of HKD 5.637 billion, up 1.5% year-on-year [10][11].

Group 1 - The establishment of China Resources Wind Power (Heze Peony District) Co., Ltd. has been officially registered with a legal representative named Zhao Baojian [1] - The registered capital of the new company is approximately 460 million RMB [1] - The business scope includes wind power generation technology services, solar power generation technology services, and investment activities using self-owned funds [1] Group 2 - The company is wholly owned by China Resources Power New Energy Investment Co., Ltd. [1]

Group 1 - China Resources Power (00836) announced the issuance of a public offering of renewable corporate bonds aimed at professional investors, referred to as "22 China Resources Y1" [1] - The bonds will pay interest and principal from September 1, 2024, to August 31, 2025, with a maturity date of September 1, 2025 [1] - The coupon rate for this bond issue is set at 2.78%, with a total redemption amount of 1,027.80 yuan (including tax) for each bond with a face value of 1,000 yuan [1]