证券代码：001289 证券简称：龙源电力 公告编号：2025-069 龙源电力集团股份有限公司 第六届董事会 2025 年第 2 次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误 导性陈述或者重大遗漏。 一、董事会会议召开情况 龙源电力集团股份有限公司（以下简称"公司"或"龙源电力"）第六届 董事会 2025 年第 2 次会议（以下简称"本次会议"）已于 2025 年 11 月 3 日 以电子邮件等方式通知全体董事。本次会议于 2025 年 11 月 14 日以电话会议 方式召开，会议应出席董事 9 人，实际出席 9 人。本次会议由董事长宫宇飞先 生主持，公司高管人员列席会议。本次会议的召开符合《中华人民共和国公司 法》《龙源电力集团股份有限公司章程》（以下简称"《公司章程》"）《龙 源电力集团股份有限公司董事会议事规则》的规定。 二、董事会会议审议情况 表决结果：7 票同意、0 票反对、0 票弃权。 本次会议经审议，形成决议如下： 1.审议通过《关于设立如东龙源新能源有限公司的议案》 董事会同意公司与全资子公司雄亚（维尔京）有限公司（以下简称"雄亚"） 及国家能源 ...

龙源电力集团股份有限公司 第六届董事会 2025 年第 2 次 独立董事专门会议决议 会议认为，本次设立射阳龙源新能源有限公司有利于公 司大力发展主责主业，进一步拓展海上风电市场，投资协议 条款公允，不会对公司财务和经营产生不利影响，不存在损 害公司及股东特别是中小股东利益的情况。同意将此议案提 交董事会审议。 一、会议召开情况 龙源电力集团股份有限公司（以下简称"公司"）第六 届董事会 2025 年第 2 次独立董事专门会议（以下简称"会议" 或"本次会议"）于 2025 年 11 月 14 日在北京召开。会议 应出席独立董事为 3 人，实际出席 3 人，会议由魏明德先生 主持，会议的召集和召开符合《龙源电力集团股份有限公司 章程》及《独立董事工作制度》的有关规定。 二、会议审议情况 会议审议了 4 项议案。经表决，形成如下决议： 1. 审议通过《关于设立如东龙源新能源有限公司的议 案》 会议认为，本次设立如东龙源新能源有限公司有利于公 司大力发展主责主业，进一步拓展海上风电市场，投资协议 条款公允，不会对公司财务和经营产生不利影响，不存在损 害公司及股东特别是中小股东利益的情况。同意将此议案提 交董事会审 ...

来源：新浪证券-红岸工作室 资金分析 今日主力净流入-84.32万，占比0.02%，行业排名40/102，该股当前无连续增减仓现象，主力趋势不明 显；所属行业主力净流入-16.92亿，连续3日被主力资金减仓。 11月14日，龙源电力跌1.09%，成交额6157.49万元，换手率0.07%，总市值1442.90亿元。 异动分析 抽水蓄能+绿色电力+风电+新疆振兴 1、龙源电力与黑龙江省铁力市人民政府签订353万千瓦新能源发电项目合作开发框架协议。根据合作协 议，由龙源电力与新农创投资发展有限公司联合成立龙源盛达合资公司，并与铁力市政府展开合作，共 同开发300万千瓦抽水蓄能项目。 2、龙源电力集团股份有限公司的主营业务是风力、光伏发电。公司的主要产品是电力、热力。 风力、 光伏发电。 3、公司主要从事风电场的设计、开发、建设、管理和运营。 4、公司在新疆的在运风电装机容量为159.08万千瓦。 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 截至9月30日，龙源电力股东户数3.42万，较上期减少16.42%；人均流通股0股，较上期增加0.00%。 2025年1月-9月，龙源电力 ...

Core Viewpoint - Longyuan Power's stock experienced a slight decline of 0.40% on November 13, with a trading volume of 85.26 million yuan, indicating a low financing balance relative to its market value [1] Financing Summary - On November 13, Longyuan Power had a financing buy amount of 839.99 million yuan and a financing repayment of 730.26 million yuan, resulting in a net financing purchase of 109.72 million yuan [1] - The total financing and securities balance for Longyuan Power as of November 13 was 66.90 million yuan, with the financing balance at 66.52 million yuan, accounting for 0.08% of the circulating market value, which is below the 30th percentile level over the past year [1] Securities Lending Summary - On November 13, Longyuan Power repaid 400 shares in securities lending and sold 100 shares, with the selling amount calculated at 1,745.00 yuan based on the closing price [1] - The remaining amount of securities lent was 21,700 shares, with a balance of 378,700 yuan, which is above the 80th percentile level over the past year, indicating a high level of securities lending [1] Company Overview - Longyuan Power Group Co., Ltd. was established on January 27, 1993, and listed on January 24, 2022, with its main business involving technical transformation, services, and production maintenance related to power systems and electrical equipment [2] - As of September 30, the company reported a total of 34,200 shareholders, a decrease of 16.42% from the previous period, with an average of 0 circulating shares per shareholder [2] - For the period from January to September 2025, Longyuan Power achieved an operating income of 22.22 billion yuan, a year-on-year decrease of 15.67%, and a net profit attributable to shareholders of 4.39 billion yuan, down 19.76% year-on-year [2] Dividend Summary - Longyuan Power has distributed a total of 5.98 billion yuan in dividends since its A-share listing, with 4.75 billion yuan distributed over the past three years [3] Institutional Holdings Summary - As of September 30, 2025, Hong Kong Central Clearing Limited was the fifth-largest circulating shareholder with 3.05 million shares, a decrease of 819,900 shares from the previous period [3] - Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF were among the top ten circulating shareholders, with holdings remaining stable or decreasing slightly compared to the previous period [3]

Core Insights - The company reported a revenue of 22.221 billion yuan for the first three quarters of 2025, a year-on-year decrease of 17.29% [1] - The net profit attributable to shareholders was 4.393 billion yuan, down 21.02% year-on-year, with a basic EPS of 0.5255 yuan per share, a decline of 20.34% [1] - The average ROE was 5.88%, a decrease of 1.76 percentage points year-on-year [1] Revenue and Profit Analysis - The decline in revenue and profit is primarily due to the exclusion of thermal power revenue, which accounted for 5.7 billion yuan in 2024, representing 15.4% of total revenue [1] - The decrease in wind power prices due to increased parity wind projects and expanded market trading also contributed to the revenue drop [1] - The average utilization hours for wind power decreased by 95 hours to 1511 hours compared to the same period last year [1] Cash Flow and Subsidies - The significant increase in renewable energy subsidies received in the first three quarters led to a 53.33% year-on-year growth in operating cash flow, providing strong cash flow support for the main business [1] New Energy Capacity and Generation - The company added 2.2742 million kilowatts of new energy capacity in the first three quarters, with wind and solar power contributing 1.1347 million and 1.1695 million kilowatts, respectively [2] - Total electricity generation was 56.547 billion kilowatt-hours, a slight decrease of 0.53% year-on-year, but a 13.81% increase when excluding thermal power [2] - Wind power generation reached 46.188 billion kilowatt-hours, up 5.3% year-on-year, while solar power generation surged by 78.0% to 10.354 billion kilowatt-hours [2] Quarterly Performance - In Q3, the company generated 16.894 billion kilowatt-hours, a year-on-year increase of 0.77% but a quarter-on-quarter decrease of 12.8% [2] - Wind power generation in Q3 was 12.685 billion kilowatt-hours, reflecting a year-on-year increase of 3.33% but a quarter-on-quarter decrease of 19.3% [2] - Solar power generation in Q3 saw a remarkable year-on-year increase of 88.57% to 4.208 billion kilowatt-hours, with a quarter-on-quarter increase of 15.6% [2] Investment Outlook - Despite short-term impacts from the divestment of thermal power, the core business in new energy is showing strong growth [3] - Continued progress in installed capacity and expectations of resource injection from the group are expected to drive long-term development [3] - Projected revenues for 2025-2027 are 35.511 billion, 36.77 billion, and 38.722 billion yuan, with net profits of 6.329 billion, 6.853 billion, and 7.461 billion yuan, respectively [3]

Core Viewpoint - Longyuan Power has signed a cooperation framework agreement with the People's Government of Tieli City, Heilongjiang Province, to develop a 3.53 million kilowatt renewable energy power generation project, including a 3 million kilowatt pumped storage project [2] Company Overview - Longyuan Power Group Co., Ltd. is primarily engaged in wind and photovoltaic power generation, with its main products being electricity and heat [2][3] - The company is involved in the design, development, construction, management, and operation of wind farms [3] - As of September 30, the company has an operational wind power installed capacity of 1.5908 million kilowatts in Xinjiang [4] Financial Performance - For the period from January to September 2025, Longyuan Power achieved an operating income of 22.221 billion yuan, a year-on-year decrease of 15.67%, and a net profit attributable to shareholders of 4.393 billion yuan, down 19.76% year-on-year [9] - Since its A-share listing, the company has distributed a total of 5.978 billion yuan in dividends, with 4.746 billion yuan distributed over the past three years [10] Shareholder Structure - As of September 30, 2025, the number of shareholders of Longyuan Power is 34,200, a decrease of 16.42% from the previous period [9] - The top ten circulating shareholders include Hong Kong Central Clearing Limited and various ETFs, with some shareholders reducing their holdings [11]

Group 1 - The core viewpoint of the article emphasizes the integration of coal mining and renewable energy, advocating for the development of photovoltaic and wind power industries in mining areas [1] - The report highlights the importance of electrification transformation in key areas and encourages the construction of smart microgrids in mining regions [1] - It suggests orderly development of green electricity direct connection and aims to deeply explore the potential for green electricity consumption in the mining industry [1] Group 2 - The report indicates that the demand for new energy in mining is expected to expand from coal mining to other mining sectors [1] - It specifically recommends Longjing Environmental Protection (600388.SH) as a key investment opportunity [1] - Additionally, it suggests paying attention to high-quality green electricity operators such as Longyuan Power (00916) and Three Gorges Energy (600905.SH) [1]

Core Insights - The central theme of the news is the launch and progress of the "Co-chain Action" initiated by the State-owned Assets Supervision and Administration Commission and the Ministry of Industry and Information Technology, aimed at enhancing the resilience and competitiveness of China's industrial chains [1][4]. Group 1: Co-chain Action Overview - Since its initiation in September 2023, the Co-chain Action has led to the release of nearly 10,000 supply-demand matching lists by central enterprises, facilitating the integration of numerous small and medium-sized enterprises into the industrial chain [1][3]. - The action has evolved from ensuring the stability of supply chains to fostering a collaborative ecosystem that enhances innovation capabilities and international competitiveness [1][4]. Group 2: Offshore Wind Power Industry - The offshore wind power sector is highlighted as a key area for clean energy development, with China leading the world in both cumulative installed capacity and new installations for seven consecutive years, reaching 44.61 million kilowatts by September 2023 [2][3]. - The establishment of the Offshore Wind Power Modern Industrial Chain Alliance aims to promote collaboration among key enterprises across the entire industrial chain, transitioning from "single-point competition" to "ecological win-win" [3][4]. Group 3: Regional Development and Collaboration - The Co-chain Action promotes a new model of regional coordinated development, exemplified by the strategic cooperation agreement between Dalian City and the Three Gorges Group, focusing on resource integration and innovation in the offshore wind sector [5][6]. - The initiative encourages local governments to actively participate in national strategic industrial chains, transforming them into "capability co-builders" that foster a conducive environment for industrial development [7].

Core Viewpoint - Longyuan Power's stock experienced a slight decline of 0.51% on November 7, with a trading volume of 85.68 million yuan, indicating a low financing balance relative to its market value and a high short-selling balance compared to historical levels [1][2]. Financing and Trading Activity - On November 7, Longyuan Power had a financing buy amount of 10.49 million yuan and a financing repayment of 9.36 million yuan, resulting in a net financing buy of 1.14 million yuan [1]. - The total financing and securities balance for Longyuan Power reached 65.75 million yuan as of November 7, with the financing balance at 65.31 million yuan, accounting for 0.07% of the circulating market value, which is below the 20th percentile of the past year [1]. - In terms of short selling, there were no shares repaid on November 7, but 1,100 shares were sold short, amounting to 19,300 yuan at the closing price, with a short selling balance of 443,500 yuan, which is above the 90th percentile of the past year [1]. Company Overview - Longyuan Power Group Co., Ltd. was established on January 27, 1993, and listed on January 24, 2022. The company specializes in power system and electrical equipment technology transformation, technical services, and production maintenance, among other related activities [2]. - As of September 30, 2025, Longyuan Power reported a revenue of 22.22 billion yuan, a year-on-year decrease of 15.67%, and a net profit attributable to shareholders of 4.39 billion yuan, down 19.76% year-on-year [2]. Dividend and Shareholder Information - Since its A-share listing, Longyuan Power has distributed a total of 5.98 billion yuan in dividends, with 4.75 billion yuan distributed over the past three years [3]. - As of September 30, 2025, the number of shareholders decreased by 16.42% to 34,200, with significant changes in the holdings of major shareholders, including reductions in shares held by several ETFs [3].

Core Points - The establishment of the Offshore Wind Power Modern Industrial Chain Alliance aims to enhance collaboration among key enterprises in the offshore wind power sector, promoting a shift from "single-point competition" to "ecological win-win" [3] - China has become a global leader in offshore wind power, with a cumulative installed capacity of 44.61 million kilowatts as of September 2023, accounting for over half of the world's total [1][2] - The conference highlighted the strategic importance of offshore wind power in building a modern industrial system and advancing marine development [1][2] Group 1: Industry Developments - The Offshore Wind Power Modern Industrial Chain Alliance includes 26 enterprises and research institutions, focusing on joint research, standard formulation, and supply-demand matching [3] - The conference released a "2025 Offshore Wind Power Technology Challenge List," outlining key technological needs in areas such as core component localization and deep-sea transmission technology [3] - The alliance aims to address challenges in critical materials, core components, and wind power software, with a focus on advanced offshore wind power technologies [3] Group 2: Regional Collaboration - A strategic cooperation agreement was signed between Dalian City and the Three Gorges Group to promote resource integration and innovation in the renewable energy sector [4] - Liaoning Province has significant offshore wind resources, with a marine supply area of 41,300 square kilometers, ranking fifth in the country [4] - The Three Gorges Group plans to leverage the conference to deepen collaboration with upstream and downstream enterprises in the offshore wind power industry, aligning with Liaoning's development strategy [4]