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分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。 CHINA SUNTIEN GREEN ENERGY CORPORATION LIMITED* 新天綠色能源股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00956） 2024年第三季度報告 本公告乃根據《香港聯合交易所有限公司證券上市規則》（「香港上市規則」）第13.09條和第13.10B條及 《證券及期貨條例》（香港法例第571章）第XIVA部刊發。 茲載列新天綠色能源股份有限公司（「本公司」）及其附屬公司截至2024年9月30日止九個月的2024年第 三季度報告（「季度報告」），其所載財務報告乃根據中國會計準則編製，且未經審計。季度報告以中 文編製，並翻譯為英文。如中英文版本有任何不一致，以中文版本為準。 承董事會命 新天綠色能源股份有限公司 譚建鑫 執行董事及總裁 中國河北省石家莊市，2024年10月30日 於本公告日期，本公司非執行董事為曹欣博士、李連平博士、秦剛先生及 ...

证券研究报告 公用事业|电力 投资要点： 证券分析师 刘晓宁 S1350523120003 liuxiaoning@huayuanstock.com 查浩 S1350524060004 zhahao@huayuanstock.com 邹佩轩 S1350524070004 zoupeixuan01@huayuanstock.com 研究支持 联系人 市场表现： -30% -20% -10% 0% 10% 20% 30% 2023-01-032023-02-012023-02-232023-03-172023-04-112023-05-082023-05-302023-06-212023-07-172023-08-082023-08-302023-09-212023-10-232023-11-142023-12-062023-12-282024-01-222024-02-212024-03-142024-04-092024-05-062024-05-282024-06-202024-07-102024-08-012024-08-232024-09-18 新天绿色能源 恒生指数 相关研究 2024 年 10 月 9 ...

Financial Performance - The company reported a total power generation of 1,200 GWh for the first half of 2024, representing a 15% increase compared to the same period last year[6]. - The company's operating revenue for the first half of the year reached ¥12,137,162,312.65, representing a 20.80% increase compared to ¥10,047,361,793.42 in the same period last year[14]. - Net profit attributable to shareholders was ¥1,429,607,248.17, showing a slight decrease of 0.62% from ¥1,438,596,728.65 year-on-year[14]. - The net cash flow from operating activities increased by 14.63% to ¥2,096,087,747.38, compared to ¥1,828,546,420.15 in the previous year[14]. - Total assets at the end of the reporting period were ¥81,774,294,311.91, a 3.49% increase from ¥79,016,593,096.75 at the end of the previous year[15]. - The net assets attributable to shareholders decreased by 2.11% to ¥21,415,054,297.89 from ¥21,876,733,637.92 at the end of the previous year[15]. - Basic earnings per share remained stable at ¥0.34, unchanged from the same period last year[16]. - The weighted average return on net assets decreased by 0.48 percentage points to 6.57% from 7.05% year-on-year[16]. - The net profit for the reporting period was RMB 1.68 billion, a year-on-year decrease of 1.89%, with the wind and solar segments reporting a net profit of RMB 1.20 billion, down 9.98% due to a reduction in average utilization hours[53]. - The company reported a net cash increase of RMB 709 million in cash and cash equivalents, with a net current liability of RMB 6.77 billion as of June 30, 2024[57]. Operational Highlights - The installed capacity reached 2,500 MW, with an average utilization rate of 85%, indicating a strong operational performance[6]. - Future operational plans include the development of three new renewable energy projects, expected to contribute an additional 300 MW by 2026[6]. - The company is actively promoting the development of large-scale wind and solar energy bases, with over 45 million kW already connected to the grid and more than 50 million kW approved for construction[22]. - The offshore wind power development plan in Hebei aims to achieve a cumulative installed capacity of 5 million kW by 2027, supported by government initiatives[23]. - The company is focusing on pumped storage and new energy storage as critical supports for the new power system, with policies enhancing profitability for independent storage projects[24]. - The company is advancing distributed wind power projects, targeting the construction of wind power in 10,000 administrative villages across rural areas[25]. - The company operates as a leading renewable and clean energy developer in North China, leveraging rich local resources and extensive project management experience[29]. - The company's renewable energy business primarily involves the construction and operation of wind farms and photovoltaic power stations, as well as electricity sales to downstream grid customers[30]. Market Expansion and Strategy - The company plans to expand its market presence by entering two new provinces, aiming for a 20% increase in market share by the end of 2025[6]. - Future guidance indicates a focus on sustainable energy solutions and potential mergers and acquisitions to strengthen market position[1]. - The company is actively pursuing technological innovation and digital transformation to enhance operational efficiency and reduce costs[37]. - The company is committed to optimizing resource combinations and expanding market reach in response to increased competition from upstream suppliers in the natural gas sector[83]. Financial Management and Governance - The financial report for the first half of 2024 is unaudited, ensuring transparency in financial disclosures[3]. - The company maintains a strong governance structure, with all board members present during the meeting[3]. - The company has outlined potential risks in its management discussion, emphasizing the importance of investor awareness[3]. - The company has established a robust internal control system to safeguard assets and protect shareholder interests, which has been effectively operating in financial, operational, compliance, and risk management areas[119]. - The audit committee reviewed the company's financial reporting procedures and internal controls, affirming that the accounting policies used are appropriate and sufficient disclosures have been made[123]. Risks and Challenges - The company faces risks related to wind resource uncertainty, with potential wind speed decreases in 2024 compared to 2023[78]. - The company anticipates that power output limitations may worsen in areas with concentrated wind and solar resources due to lagging grid construction[79]. - The company is closely monitoring interest rate changes, as they significantly impact capital costs for wind and natural gas project investments[85]. - The company faces exchange rate fluctuation risks due to LNG imports being settled in USD while domestic sales are generally settled in RMB, leading to uncertainty in procurement costs[86]. Environmental and Social Responsibility - The company strictly adheres to national and local environmental protection laws and regulations, implementing a comprehensive management approach for environmental protection across all business segments[128]. - The company has established emergency response plans for environmental incidents and has signed agreements for the collection, transportation, and disposal of hazardous waste[126]. - The company is actively involved in rural revitalization efforts, providing assistance to impoverished villages and monitoring poverty risks through a "monthly visit, quarterly monitoring" system[130]. - The company has implemented measures to reduce carbon emissions by strictly following standardized operating procedures to prevent equipment leaks and failures[129]. Shareholder and Incentive Plans - The company has proposed a three-year dividend return plan for shareholders from 2024 to 2026[115]. - The company has received approval for its 2023 A-share restricted stock incentive plan from the Hebei Provincial Government[94]. - The total number of restricted shares granted represents approximately 0.44% of the company's total share capital of 4,187.0931 million shares[99]. - The incentive plan aims to align the interests of shareholders, the company, and management to promote long-term development[97]. - The performance assessment for the first unlock period requires a revenue growth rate of no less than 25.44% in 2024 compared to 2022, and earnings per share must be at least RMB 0.60[105]. Debt and Financing - The company's total borrowings as of June 30, 2024, were RMB 40.98 billion, an increase of RMB 3.07 billion from the end of 2023[60]. - The asset-liability ratio increased to 67.67% as of June 30, 2024, up from 66.16% at the end of 2023, primarily due to increased external financing[62]. - The company has received a total bank credit line of RMB 113.82 billion, with RMB 38.19 billion utilized[57]. - The company has not reported any changes or termination of fundraising projects during the reporting period[163].

证 券 研 究 报 告 | --- | --- | |-----------------------------|--------------------------------------------------------------------------------------| | 即时点评 | 天然气售气量强劲增长，积极扩充风资源储备 | | 新天绿色能源（ 0956 HK ） | 2024-08-29 星期四 | | | 事件： | | | 截至 2024 年 6 月 30 日止六个月， 公司营业收入为人民币 121.37 亿元， | | | 较去年同期增长 20.8% ；归属于上市公司股东的净利润为人民币 14.30 | | | 亿元，较去年同期下降 0.62% ；及基本每股收益为人民币 0.34 元。 | | 相关报告 | 点评观点： | | | ➢ 上半年天然气业务盈利表现良好： | | | 上半年，公司实现净利润 16.82 亿元，同比下降 1.89% ；其中天然气 | | | 业务实现净利润 4.49 亿元，同比增长 44.98% ；新能源业务实现净利 | | | 润 11.64 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分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。 CHINA SUNTIEN GREEN ENERGY CORPORATION LIMITED* 新天綠色能源股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00956） 截至2024年6月30日止六個月之中期業績 | --- | |------------------------------------------------------------------------------| | | | 財務資料摘要 | | 截至 2024 年 6 月 30 日止六個月： | | ‧ 營業收入為人民幣 121.37 億元，較去年同期增長 20.8% ； | | ‧ 歸屬於上市公司股東的淨利潤為人民幣 14.30 億元，較去年同期下降 0.62% ；及 | | ‧ 基本每股收益為人民幣 0.34 元。 | 新天綠色能源股份有限公司（「公司」或「本公司」，連同其附屬公司，統稱「本集團」）董 ...

新天绿色能源（956 HK） | 2024 年 7 月 30 日 香港股市 | 新能源 | 风电及天然气 新天绿色能源（956 HK） 上半年风电发电量下跌，但天然气销量胜预期 1H24 风电发电量同比下跌 3.6% 因为风资源受压，1H24 风电发电量同比下跌 3.6%至 7,444GWh。按季度，第二季发电量 同比下跌 7.96%，第一季同比上升 0.4%。我们预计 FY24-26 风电发电量分别同比上升 5.6%、15.2%、20.6%至 14,867GWh、17,128GWh、20,656GWh。 1H24 天然气销量同比增长 46.5% 由于需求多于预期，1H24 公司天然气销量同比增长 46.5%至 30.2 亿立方米，其中批发及 零售量分别同比上升 10.6%及 16.1%至 12.3 亿立方米及 10.6 亿立方米。基于去年 6 月唐 山 LNG 项目一期投运后日渐顺利，LNG 气量同比增长 27,186.0%至 6.9 亿立方米。按季 度，第二季天然气销量同比上升 62.6%，增幅高于第一季的 39.4%。我们预计公司 FY24- 26 天然气销量分别同比增长 34.3%、18.2%、10. ...

各位嘉宾大家好今天欢迎来到新疆绿色能源的投资交流会那么首先我来介绍一下公司参会的嘉宾首先第一位是公司副总裁董事会秘书班泽峰第二位是公司资本运营与投资者关系部主任张芳芳非常欢迎大家今天一起来进行交流那么首先由我代表公司为各位投资者介绍一下公司2024年一季度的整体经营业绩情况 首先呢2024年公司一季度实现了控股发电量41.17亿千瓦时同比增长了0.27%那么其中风电的发电量是40.78亿千瓦时同比增长0.36% 第一季度公司新能源板块的平均电价为四毛三较上年同期的四毛四下降了一分钱公司的上网电量为40.22亿千瓦时其中市场化交易电量是14.35亿千瓦时占当期上网电量的35.67%较上年同期增加了3.59个百分点 那么对于TNT我来说截至到2024年的3月31日公司共完成了总的出售气量是22.3亿立方米同比增加了33.86%其中代出气量是2.43亿立方米同比增加130%售气量是19.87亿方同比增加39.35% 那么售期量其中包括了批发售期量为9.66亿方同比增加10.58%零售期量是6.38亿方增加20.12%LNG售期量是3.63亿方那么因为这个LNG项目的投产跟去年同比增加了可以说是有显著的增加 那么针对 ...

各位嘉宾大家好今天欢迎来到新疆绿色能源的投资交流会那么首先我来介绍一下公司参会的嘉宾首先第一位是公司副总裁董事会秘书班泽峰第二位是公司资本运营与投资者关系部主任张芳芳非常欢迎大家今天一起来进行交流那么首先由我代表公司为各位投资者介绍一下公司2024年一季度的整体经营业绩情况 首先呢2024年公司一季度实现了控股发电量41.17亿千瓦时同比增长了0.27%那么其中风电的发电量是40.78亿千瓦时同比增长0.36% 第一季度公司新能源板块的平均电价为四毛三较上年同期的四毛四下降了一分钱公司的上网电量为40.22亿千瓦时其中市场化交易电量是14.35亿千瓦时占当期上网电量的35.67%较上年同期增加了3.59个百分点 那么对于TNT我来说截至到2024年的3月31日公司共完成了总的出售气量是22.3亿立方米同比增加了33.86%其中代出气量是2.43亿立方米同比增加130%售气量是19.87亿方同比增加39.35% 那么售期量其中包括了批发售期量为9.66亿方同比增加10.58%零售期量是6.38亿方增加20.12%LNG售期量是3.63亿方那么因为这个LNG项目的投产跟去年同比增加了可以说是有显著的增加 那么针对 ...

更新报告 买入 天然气售气量高增长，全年盈利持续改善 新天绿色能源（0956.HK） 2024-05-22 星期三 投资要点 目标价： 4.52 港元 ➢ 2024Q1盈利为人民币8.32亿元，同比下降0.89%： 现 价： 3.66港元 公司2024Q1实现收入79.07亿元人民币，同比增长20.55%；归属股东 预计升幅: 23% 净利润8.32亿元人民币，同比下降0.89%；基本每股收益0.2元，同比 持平；加权平均净资产收益率3.82%，同比下降0.2个百分点。 重要数据 ➢ 2024Q1天然气总售气量增长33.86%，预期后续盈利持续改善： 日期 2024-05-21 一季度，公司天然气总输气量为 22.3 亿立方米，同比增长 33.86%；售 收盘价（港元） 3.66 气量19.87亿立方米，同比增长39.93%，其中零售气量6.38亿立方米， 流通股本（百万股） 1,839 同比增长20.12%；批发气量9.66亿方，同比增长10.58%；LNG售气量 流通市值（百万港元） 6,878 3.63 亿立，同比增长+46589.68%，主要受益唐山 LNG 投产带来爆发式 总股本（百万股） 4,20 ...

申万宏源研究 上海市南京东路99号 | +86 21 2329 7818 www.swsresearch.com 简单金融 成就梦想 公用事业 | 公司研究 风况不佳略有拖累 天然气产业链价值加速 2024年4月26日 释放 买入 新天绿色能源(00956.HK) 维持评级 新天绿色能源发布2024年第一季度报告。公司实现营业收入79.07亿元，同比增长20.55%； 归属于母公司股东的净利润人民币8.32亿元，同比下降0.89%，低于我们的预期。公司基本每 市场数据：2024年4月25日 股收益0.20元，与同期持平。加权平均净资产收益率3.82%，同比下降0.2个百分点。 收盘价（港币） 3.22 交易电量占比继续提升，平均上网电价小幅下滑。2024年1-3月，公司完成发电量41.17亿度， 恒生中国企业指数 6120.37 上网电量 40.22亿度，分别同比提升 0.27%及 0.16%。一季度公司完成市场化交易电量 14.34 52周最高/最低价 (港币) 3.43/2.51 亿度，占比35.67%，同比增加3.59个百分点。根据全国新能源消纳监测预警中心，2月河北省 H股市值（亿港币） 134.82 ...