Group 1 - The core view of the report emphasizes the acceleration of utility sector transformation, highlighting the increasing value of dividends [1] - The report maintains a "Buy" rating for the utility sector, consistent with previous ratings [3] - The report indicates that the utility sector has outperformed the market, with a relative performance increase of 30% from January 2025 to January 2026 [4] Group 2 - Electricity demand growth is expected to continue, driven by industrial transformation, with significant contributions from wind and solar power [17] - The report notes that from January to November 2025, wind and solar power accounted for 86.2% of the total electricity generation increase, indicating a strong shift towards renewable energy sources [17][18] - The structure of electricity consumption is shifting from secondary industry to tertiary industry and residential use, with the tertiary sector expected to account for 50.2% of the total electricity consumption increase by 2025 [17] Group 3 - The report highlights that the cash flow of thermal power companies is improving, with a potential increase in dividend payouts [17] - It suggests that the transition towards utility-like operations in thermal power is accelerating, with companies like Huaneng International Power and Huadian International Power showing strong performance and dividend management [17] - The report indicates that the capacity price for coal-fired power is expected to rise in 2026, which could enhance profitability [17] Group 4 - Hydropower is expected to benefit from high reservoir levels, ensuring stable electricity generation during dry seasons, with companies like Changjiang Electric Power showing promising performance [17] - The report emphasizes the importance of asset securitization in hydropower, with ongoing projects expected to enhance growth potential [17] - The report also notes that long-term interest rates remain low, which could further enhance the attractiveness of hydropower investments [17] Group 5 - The report discusses the challenges faced by green energy, particularly in terms of pricing and profitability, but anticipates improvements driven by policy changes [17] - Nuclear power is expected to see accelerated approvals and market-driven pricing, which could enhance its competitiveness [17] - The report highlights the need for a focus on demand recovery in the gas sector, with companies like Jiufeng Energy positioned to benefit from cost improvements [17] Group 6 - The report recommends specific stocks within the utility sector, including Huaneng International Power, Huadian International Power, and Changjiang Electric Power, based on their strong performance and dividend potential [17] - It also highlights the potential of gas companies like Jiufeng Energy and renewable energy firms like Longyuan Power and Fuyuan Co., which are expected to benefit from favorable market conditions [17] - The report suggests that the utility sector is entering a phase of increased dividend value, making it an attractive investment opportunity [17]

Group 1 - The core viewpoint of the news is that Longyuan Power's stock performance and financing activities indicate a mixed outlook, with a notable decline in revenue and profit year-on-year [1][2][3] Group 2 - On January 15, Longyuan Power's stock fell by 1.08%, with a trading volume of 71.58 million yuan. The financing buy-in amount was 4.01 million yuan, while the financing repayment was 3.21 million yuan, resulting in a net financing buy of 0.79 million yuan [1] - As of January 15, the total balance of margin trading for Longyuan Power was 110 million yuan, which accounts for 0.14% of its market capitalization, indicating a high level compared to the past year [1] - The company had no short selling activity on January 15, with a short selling balance of 2.18 million yuan, which is below the 10th percentile level over the past year, indicating a low level of short interest [1] Group 3 - Longyuan Power, established on January 27, 1993, and listed on January 24, 2022, primarily engages in power system and electrical equipment technology services, new energy technology development, and project investment management [2] - For the period from January to September 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] Group 4 - Since its A-share listing, Longyuan Power has distributed a total of 6.81 billion yuan in dividends, with 5.58 billion yuan distributed over the past three years [3] - As of September 30, 2025, the number of shareholders for Longyuan Power was 34,200, a decrease of 16.42% from the previous period [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 3.05 million shares, a decrease of 819,900 shares from the previous period [3]

Group 1 - The core viewpoint of the article highlights the establishment of two new power generation companies in Gansu, China, which are fully owned by a parent company involved in energy development [1] - The newly established companies, Gansu Guoneng Badanjilin No. 1 Power Generation Co., Ltd. and Gansu Guoneng Badanjilin No. 2 Power Generation Co., Ltd., each have a registered capital of 1 billion yuan [1] - Both companies have a business scope that includes heat production and supply, coal and related product sales, sales of wind power equipment, and biomass energy technology services [1] Group 2 - The legal representative for both companies is Pang Xin, indicating a centralized management structure [1] - The parent company, Guoneng Badanjilin (Gansu) Energy Development Investment Co., Ltd., is jointly held by Longyuan Power (001289) and China Energy Investment Corporation [1]

Core Viewpoint - Longyuan Power Group Co., Ltd. has successfully completed the issuance of its second phase of ultra-short-term financing bonds for 2026, aimed at supplementing working capital and repaying interest-bearing debts of the issuer and its subsidiaries [2][5]. Group 1 - The company received authorization from its shareholders on June 17, 2025, to apply for and issue debt financing instruments with a total new scale not exceeding RMB 500 billion (including 500 billion) [1][4]. - The company can register debt financing instruments with the China Interbank Market Dealers Association, with a total new scale not exceeding RMB 800 billion (including 800 billion), and may issue them in installments [1][4]. - The relevant documents for the bond issuance have been published on the China Money website and the Shanghai Clearing House website [2][6]. Group 2 - The first phase of ultra-short-term financing bonds for 2026 was also successfully issued on January 14, 2026, with similar purposes for the raised funds [5][6]. - The company’s board of directors has been authorized to handle related matters within the scope of the authorization granted by the shareholders [1][4].

Group 1 - The company Longyuan Power (001289)(00916) has completed the issuance of ultra-short-term financing bonds on January 14, 2026, totaling RMB 3.7 billion [1] - The bonds have a maturity period of 149 days and a face value of RMB 100, with a coupon rate of 1.54% [1] - The funds raised from this bond issuance will be used to supplement daily working capital and repay interest-bearing debts of the issuer and its subsidiaries [1]

Core Viewpoint - Longyuan Power (001289)(00916) has successfully issued a super short-term financing bond totaling RMB 3.7 billion with a maturity of 149 days and an interest rate of 1.54% [1] Group 1 - The total amount of the super short-term financing bond issued by the company is RMB 3.7 billion [1] - The bond has a maturity period of 149 days [1] - The face value of the bond is set at RMB 100 [1] - The interest rate for the bond is 1.54% [1] - Interest calculations for the bond will commence from January 14, 2026 [1]

Core Viewpoint - Longyuan Power (00916) has successfully completed the issuance of super short-term financing bonds totaling RMB 3.7 billion, with a maturity of 149 days and an interest rate of 1.54% [1] Group 1: Financing Details - The total amount of the super short-term financing bonds issued is RMB 3.7 billion [1] - The bonds have a maturity period of 149 days, with a face value of RMB 100 each [1] - The interest on the bonds will start accruing from January 14, 2026 [1] Group 2: Underwriters and Use of Proceeds - The lead underwriter for the bond issuance is CITIC Bank, with China Merchants Bank serving as the co-lead underwriter [1] - The funds raised from this bond issuance will be used to supplement the company's working capital and repay interest-bearing debts of the issuer and its subsidiaries [1]

Core Viewpoint - Longyuan Power (00916.HK) has successfully completed the issuance of ultra-short-term financing bonds totaling RMB 3.7 billion, with a maturity of 149 days and an interest rate of 1.54% [1]. Group 1 - The total amount of the ultra-short-term financing bonds issued by the company is RMB 3.7 billion [1]. - The bonds have a maturity period of 149 days [1]. - The face value of each bond is RMB 100, and the interest calculation starts from January 14, 2026 [1].

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之內 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 不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之 任 何 損 失 承 擔 任 何 責 任。 公 告 本 公 告 乃 由 龍 源 電 力 集 團 股 份 有 限 公 司（「本公司」）根 據《香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則》第13.09條及香港法例第571章《證 券 及 期 貨 條 例》 第XIVA部 項 下 內 幕 消 息 條 文 作 出。 茲提述本公司日期為2025年6月17日關於本公司股東批准發行債務融資 工具的本公司2024年 度 股 東 大 會 投 票 結 果 的 公 告。 本公司已於2026年1月14日 完 成 本 公 司 超 短 期 融 資 券（「本超短期融資券」） 發 行。本 超 短 期 融 資 券 發 行 總 額 為 人 民 幣37億 元，期 限 為149天，單 位 面 值為人民幣100元，票 面 利 率 為1.54%。利 息 自2026年1月14日 起 開 始 計 算。 本超 ...

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之內 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 不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之 任 何 損 失 承 擔 任 何 責 任。 完成發行超短期融資券 本 公 告 乃 由 龍 源 電 力 集 團 股 份 有 限 公 司（「本公司」）根 據《香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則》第13.09條及香港法例第571章《證 券 及 期 貨 條 例》 第XIVA部 項 下 內 幕 消 息 條 文 作 出。 茲提述本公司日期為2025年6月17日關於本公司股東批准發行債務融資 工具的本公司2024年 度 股 東 大 會 投 票 結 果 的 公 告。 本公司已於2026年1月14日 完 成 本 公 司 超 短 期 融 資 券（「本超短期融資券」） 發 行。本 超 短 期 融 資 券 發 行 總 額 為 人 民 幣37億 元，期 限 為149天，單 位 面 值為人民幣100元，票 面 利 率 為1.54%。利 息 自2026年1月14日 起 開 始 ...