证券代码：001289 证券简称：龙源电力 公告编号：2026-007 龙源电力集团股份有限公司 注：1.本公告中提供的数字经过整数调整，因此若总计数字与所列各项之和出现尾数差异， 皆因整数调整所致。 2. 因乌克兰项目所在当地电网升压站受损停运仍在维修，导致当月无法实现并网发电。 以上发电量数据来自本公司内部统计。数据在月度之间可能存在较大差异， 其影响因素包括但不限于天气变化、设备检修、季节性因素和安全检查等。数据 可能与相关期间定期报告披露的数据有差异。投资者应注意不恰当信赖或使用以 上信息可能造成投资风险。 龙源电力集团股份有限公司 董 事 会 2026年1月发电量数据公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 龙源电力集团股份有限公司（以下简称"本公司"）2026 年 1 月按合并报 表口径完成发电量 7,162,732 兆瓦时，较 2025 年同期同比增长 12.05%。本月风 电发电量同比增长 8.11%，太阳能发电量同比增长 42.25%。 | | | | | | | 年累计发 | | --- | --- | --- | --- | ...

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。 龍 源 電 力 集 團 股 份 有 限 公 司（以 下 簡 稱「本公司」，連 同 其 附 屬 公 司 合 稱「本 集 團」）2026年1月按合併報表口徑完成發電量7,162,732兆 瓦 時，較2025年 同期同比增長12.05%。本月風電發電量同比增長8.11%，太陽能 發電量同 比增長42.25%。 – 1 – 2026年1月 本 集 團 發 電 量 詳 情 如 下： | | 2026年1月 | 2025年1月 | 1月 | 2026年 | 2025年 | 年累計 發電量 | | --- | --- | --- | --- | --- | --- | --- | | 業務板塊及地區分佈 | 發電量 | 發電量 | 同比變化率 | 累計發電量 | 累計發電量 | 同比變化率 | | | （兆 瓦 時） | （兆 瓦 時） | (%) ...

资料显示，龙源电力集团股份有限公司位于北京市西城区阜成门北大街6号(c幢)20层2006室,香港铜锣湾 希慎道33号利园1期19楼1917室，成立日期1993年1月27日，上市日期2022年1月24日，公司主营业务涉 及电力系统及电气设备的技术改造、技术服务和生产维修;与电力相关的新技术、新设备、新材料、新 工艺的研制、开发、生产、成果转让;电站污染物治理;风力发电、节能技术及其他新能源的技术开发、 项目投资管理;进出口业务;电气设备的租赁;与主营业务相关的咨询服务;承办展览会、展销会;机电产 品、化工原料及制品(危险化学品除外)、建筑材料、五金交电、日用百货、汽车配件、电力系统专用车 辆的销售;出租写字间。主营业务收入构成为：电力产品99.22%，其他收入0.78%。 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，龙源电力实现营业收入222.21亿元，同比减少15.67%；归母净利润43.93亿元，同比减 少19.76%。 分红方面，龙源电力A股上市后累计派现68.14亿元。近三年，累计派现55.82亿元。 机构持仓方面，截 ...

来源：新浪证券-红岸工作室 机构持仓方面，截止2025年9月30日，龙源电力十大流通股东中，香港中央结算有限公司位居第五大流 通股东，持股305.39万股，相比上期减少81.99万股。华泰柏瑞沪深300ETF（510300）位居第七大流通 股东，持股269.01万股，持股数量较上期不变。易方达沪深300ETF（510310）位居第九大流通股东， 持股186.07万股，相比上期减少7.82万股。华夏沪深300ETF（510330）位居第十大流通股东，持股 138.91万股，相比上期减少2.35万股。交银国企改革灵活配置混合A（519756）、嘉实沪深300ETF （159919）退出十大流通股东之列。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 2月2日，龙源电力跌0.89%，成交额7812.10万元。两融数据显示，当日龙源电力获融资买入额682.54万 元，融资偿还650.75万元，融资净买入31.78万元。截至2月2日，龙源电力 ...

FF301 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: 2026年1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: 龍源電力集團股份有限公司（於中華人民共和國注冊成立的股份有限公司） 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00916 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,317,882,000 | RMB | | 1 RMB | | 3,317,882,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 3,317,882,000 | RMB | | 1 RMB | | 3,317,882,000 | | ...

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 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 has been actively involved in the national carbon market since its launch in 2021, facilitating diverse development in carbon trading [2] Financial Performance - As of September 30, Longyuan Power reported a revenue 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 [8] - The company has distributed a total of 6.814 billion yuan in dividends since its A-share listing, with 5.582 billion yuan distributed over the past three years [9] Shareholder Information - As of September 30, the number of shareholders for Longyuan Power was 34,200, a decrease of 16.42% from the previous period [8] - Major shareholders include Hong Kong Central Clearing Limited and various ETFs, with some shareholders reducing their holdings [9]

Investment Rating - The report provides a positive outlook on the electricity and natural gas sectors, highlighting stable revenue mechanisms and growth potential in consumption and pricing [1][10]. Core Insights - The report emphasizes the importance of a refined capacity pricing mechanism for electricity generation, which aims to stabilize revenue and ensure fair compensation for various power sources [4][6]. - It notes that natural gas consumption is expected to grow, supported by favorable weather conditions and improved economic indicators, despite short-term price fluctuations [10][29]. Summary by Sections 1. Electricity: Improved Capacity Pricing Mechanism - The National Development and Reform Commission and the National Energy Administration have issued a notification to enhance the capacity pricing mechanism for electricity generation, addressing mismatches in supply and demand within the new power system [4]. - The new mechanism aims to ensure that different types of power generation, including coal, gas, and new energy sources, receive fair compensation based on their peak supply capabilities [6][7]. - The report highlights that the refined pricing structure will lead to more predictable revenue for power generation companies, reducing volatility in earnings [7]. 2. Natural Gas: Continued Growth in Consumption - The report indicates that the apparent consumption of natural gas in China is projected to grow by 0.1% in 2025, with December consumption reaching 38.57 billion cubic meters, a year-on-year increase of 1.9% [29]. - It notes that the recent cold weather has supported high natural gas prices, with the U.S. Henry Hub spot price at $7.18/mmBtu, while European prices remain elevated due to low inventory levels and geopolitical tensions [10][12]. - The report suggests that the natural gas sector will benefit from a combination of lower costs and improved pricing mechanisms, leading to a recovery in profitability for city gas companies [31]. 3. Investment Recommendations - For coal-fired power, companies like Guodian Power and Inner Mongolia Huadian are recommended due to their stable revenue sources [8]. - Hydropower companies such as Yangtze Power and State Power Investment Corporation are highlighted for their potential to improve profit margins through reduced capital expenditures [8]. - In the nuclear sector, China National Nuclear Power and China General Nuclear Power are suggested for their growth potential as new units are approved [8]. - The report also recommends focusing on integrated natural gas companies like ENN Energy and China Gas Holdings, which are expected to benefit from lower costs and increased sales [31].

Investment Rating - The report maintains a positive outlook on the power and gas sectors, indicating a favorable investment environment due to policy improvements and market dynamics [1]. Core Insights - The report highlights the recent improvements in the capacity pricing mechanism for power generation, which aims to stabilize revenue and enhance the profitability of various power sources [6][10]. - It notes a slight increase in natural gas consumption in 2025, with a projected growth of 0.1% year-on-year, indicating a stable demand outlook for the gas sector [32]. Summary by Sections 1. Power Sector: Capacity Pricing Mechanism Improvement - The National Development and Reform Commission and the National Energy Administration have issued a notification to enhance the capacity pricing mechanism for power generation, addressing mismatches in supply and demand within the new energy system [6]. - The new mechanism introduces differentiated pricing for various types of regulatory power sources, ensuring that their capacity value is adequately compensated [7]. - A unified compensation standard for peak capacity across different power sources is established, promoting rational investment and resource allocation in the power sector [8][10]. 2. Gas Sector: Continued Growth in Natural Gas Consumption - Natural gas consumption in China is expected to reach 385.7 billion cubic meters by December 2025, reflecting a year-on-year increase of 1.9% [32]. - The report emphasizes the impact of cold weather on gas prices, with global prices remaining high, particularly in the U.S. and Europe, which supports the profitability of gas companies [13][19]. - The report suggests that the gas sector will benefit from a combination of lower costs and improved demand, particularly for city gas companies, with recommendations for several key players in the market [34]. 3. Weekly Market Review - The report notes that the public utility, power, gas, and environmental sectors underperformed relative to the Shanghai and Shenzhen 300 index during the week of January 24 to January 30, 2026 [36]. 4. Company and Industry Dynamics - As of the end of 2025, the total installed power generation capacity in China reached 3.89 billion kilowatts, a year-on-year increase of 16.1%, with significant growth in solar and wind power installations [43]. - The report includes various company announcements, highlighting performance forecasts and operational updates from key players in the energy sector [44].

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 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]. - The company has an operational wind power capacity of 1.5908 million kilowatts in Xinjiang [3]. - The company 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 electrical systems and equipment [6]. Financial Performance - For the period from January to September 2025, Longyuan Power reported operating revenue 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 [7]. - The company has distributed a total of 6.814 billion yuan in dividends since its A-share listing, with 5.582 billion yuan distributed over the past three years [8]. Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders of Longyuan Power was 34,200, a decrease of 16.42% from the previous period [7]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited and various ETFs, with some shareholders reducing their holdings [9]. Market Activity - On February 2, Longyuan Power's stock fell by 0.89%, with a trading volume of 78.121 million yuan and a turnover rate of 0.10%, resulting in a total market capitalization of 129.744 billion yuan [1]. - The main net inflow of funds was -4.6104 million yuan, indicating a reduction in main funds over three consecutive days [4].

Investment Rating - The report maintains a "Buy" rating for the public utility sector [6] Core Insights - The commercial model of the power sector is continuously transforming, with a reduced reliance on annual long-term contracts for electricity and prices. The sector is shifting towards mid-to-long-term markets, spot markets, and capacity markets, indicating a comprehensive push for marketization [19][3] - The capacity price mechanism is being refined, with the aim to optimize the electricity market and ensure fair compensation reflecting the contributions of different power plants to peak demand [15][3] - The report highlights the importance of capacity market development, with current subsidies in Gansu and Yunnan reaching 330 RMB/kW·year, which helps offset the decline in electricity prices [19][3] Summary by Sections Market Performance - The SW public utility sector index fell by 1.66% this week, ranking 16th among 31 SW sectors. In comparison, the CSI 300 index rose by 0.08%, while the Shanghai Composite Index and Shenzhen Component Index fell by 0.44% and 1.62%, respectively [33][33] - Within sub-sectors, thermal power decreased by 2.78%, hydropower increased by 0.3%, while solar and wind power fell by 4.53% and 2.49%, respectively [33][33] Price Updates - Domestic and imported thermal coal prices have rebounded slightly, with domestic Qinhuangdao port 5500 kcal thermal coal rising by 4 RMB/ton, remaining below 700 RMB/ton. Imported coal prices also saw a slight increase [12][12] - The average clearing price for electricity in Shanxi and Guangdong has significantly increased due to cold weather, while the monthly agent purchase electricity costs are trending upwards due to rising capacity prices and the entry of renewable energy into the settlement cycle [13][12] Key Events - The National Development and Reform Commission and the National Energy Administration issued a notice to improve the capacity price mechanism for power generation, which includes optimizing compensation for coal and gas power generation [3][15] - Recent policy changes include relaxing the annual long-term contract signing ratio for coal-fired power companies and the cancellation of time-of-use electricity pricing in multiple regions [3][15] Recommendations - The report suggests focusing on national thermal power operators such as Huaneng International and Guodian Power, which are expected to maintain stable cash dividends. The profitability of thermal power is anticipated to gradually detach from coal cost dependency, shifting towards multiple influencing factors [19][3] - For long-term stable investment needs, the report recommends attention to companies like Yangtze Power, State Power Investment Corporation, and China National Nuclear Power [19][3]