受益的行业非常多，这个要分短期和中长期，因为时间跨度很长，预期是10-15年，但按照中国的速 度，只要资金到位，10年内就完工并非不可能。 短期来看，最开始就是水泥建材这些先行一步，考虑到水泥有个运输半径问题，因此最大龙头是本地水 泥厂的西藏天路(600326.SH)，被巨量封住一字，再是离基地项目400公里的港股华新水泥(06655)，大涨 超85%。本地产能肯定是不够的，需要从其它地区引进，其它有华润建材科技(01313)、中国建材 (03323)、金隅集团(02009)、中国建材(03323)、海螺水泥(00914)均涨超10%。 【解剖大盘】 周末没啥利空，市场主要担心的无非是日本的参议院选举，最新情况是由自民党和公明党组成的执政联 盟丧失参议院过半数议席。但靴子落地后日元并未出现明显波动，市场预期石破茂依旧可以继续履行职 责，从而稳定局面。因此港股继续跳空上行，今天涨0.68%。 扰动市场的巨头内卷也开始收敛，7月18日，根据央视新闻，市场监管总局约谈饿了么、美团、京东三 家平台企业，号召理性参与竞争。美团-W(03690)、京东集团(09618)、阿里巴巴(09988)均涨幅超2%。 而爆炸性题材 ...

Core Viewpoint - Datang International Power Generation Co., Ltd. reported significant growth in net profit and operational efficiency for the year 2024, highlighting a strong performance in both traditional and renewable energy sectors [1][4]. Company Overview and Financial Indicators - The company achieved a total operating revenue of approximately 123.47 billion yuan, a year-on-year increase of 0.86% [2][7]. - Net profit attributable to shareholders reached approximately 4.51 billion yuan, representing a substantial increase of 229.70% compared to the previous year [2][5]. - The company's total assets amounted to approximately 322.60 billion yuan, reflecting a growth of 6.03% year-on-year [2][5]. - The net asset attributable to shareholders was approximately 76.56 billion yuan, up by 3.90% from the previous year [2][5]. Operational Performance - The company reported a net cash flow from operating activities of approximately 26.12 billion yuan, an increase of 23.01% year-on-year [2][7]. - The company’s total installed capacity reached approximately 79,111.227 MW, with a significant portion coming from coal-fired power plants and a growing share from renewable sources [5][6]. - The company added 6,700.263 MW of new installed capacity during the reporting period, with the proportion of low-carbon clean energy installations increasing to 40.37% [5][6]. Industry Context - National electricity consumption reached 9.85 trillion kWh in 2024, with a year-on-year growth of 6.8%, indicating a stable demand for electricity [4][5]. - The share of non-fossil energy generation capacity reached 58.2% of total installed capacity, reflecting a significant shift towards renewable energy sources [4][5]. - The company is positioned as a key player in the transition to low-carbon energy, with ongoing investments in renewable energy projects and a commitment to reducing carbon emissions [4][5].

Core Viewpoint - The company has issued a correction to its 2024 annual report, specifically addressing errors in the data units related to major sales customers and suppliers, clarifying that the actual unit should be "thousand yuan" instead of "ten thousand yuan" [1][2][3] Group 1: Sales and Revenue - The sales revenue from the top five customers amounted to 55,793,692 thousand yuan, representing 45.19% of the total annual sales [1][3] - There were no sales from related parties among the top five customers, which accounted for 0% of the total annual sales [1][2] Group 2: Suppliers and Procurement - The procurement amount from the top five suppliers was 25,317,493 thousand yuan, constituting 24.09% of the total annual procurement [2][3] - Among the top five suppliers, the procurement from related parties was 20,363,179 thousand yuan, making up 19.37% of the total annual procurement [2][3] Group 3: Correction and Apology - The company has stated that the correction will not affect the financial statements or the overall financial condition and operating results for 2024 [1][3] - The company expressed apologies for any inconvenience caused to investors due to the correction [3]

证券代码：601991 证券简称：大唐发电 公告编号：2025-034 大唐国际发电股份有限公司 关于 2024 年年度报告更正公告 特别提示 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 大唐国际发电股份有限公司（以下简称"公司"）于 2025 年 3 月 26 日在 上海证券交易所网站（www.sse.com.cn）及指定媒体披露了公司《2024 年年度 报告》。经公司事后审核，在编制 2024 年年度报告过程中，因工作人员疏忽， 2024 年年度报告中"第三节 管理层讨论与分析"之"五、报告期内主要经营 情况"之"（一）主营业务分析"之"3、收入与成本分析"之"（7）主要销 售客户及主要供应商情况"部分数据单位有误，实际单位为"千元"，本次更 正不会对财务报表产生影响，也不会对 2024 年年度财务状况和经营成果造成 影响。具体内容更正如下： 更正前： (7). 主要销售客户及主要供应商情况 A.公司主要销售客户情况 √适用 □不适用 前五名客户销售额 55,793,692 万元，占年度销售总额 45.19%；其 ...

Financial Performance - The company's operating revenue for 2024 reached CNY 123,473,629 thousand, representing a 0.86% increase compared to CNY 122,426,600 thousand in 2023[20]. - Net profit attributable to shareholders for 2024 was CNY 4,506,183 thousand, a significant increase of 229.70% from CNY 1,366,761 thousand in 2023[20]. - The net cash flow from operating activities for 2024 was CNY 26,123,073 thousand, up 23.01% from CNY 21,236,372 thousand in 2023[21]. - The total assets of the company as of the end of 2024 were CNY 322,601,537 thousand, reflecting a 6.03% increase from CNY 304,242,001 thousand at the end of 2023[21]. - The basic earnings per share for 2024 was CNY 0.1629, a substantial increase from a loss of CNY 0.0153 in 2023, marking a 1,164.71% change[22]. - The weighted average return on equity for 2024 was 10.44%, an increase of 11.47 percentage points from -1.03% in 2023[22]. - The net profit attributable to shareholders of the listed company for the current period is 4,506,183 thousand RMB, compared to 1,366,761 thousand RMB in the previous period, reflecting a significant increase[24]. - The total net assets attributable to shareholders of the listed company at the end of the period are 76,560,601 thousand RMB, up from 73,688,800 thousand RMB at the beginning of the period[24]. Operational Highlights - The operating income for the first quarter is 30,737,100 thousand RMB, while the second quarter is 27,572,741 thousand RMB, the third quarter is 32,675,879 thousand RMB, and the fourth quarter is 32,487,909 thousand RMB[27]. - The cash flow generated from operating activities for the third quarter is 10,959,166 thousand RMB, indicating strong operational performance[27]. - The company achieved a historical high in operating profit, with a focus on profit maximization and cost control strategies[33]. - The company completed a total electricity generation of approximately 269.322 billion kilowatt-hours, a year-on-year increase of 3.79%[46]. - The company's total main business income is approximately RMB 121.80 billion, with electricity sales accounting for 88.34% of total revenue[54]. - The company produced 285.15 billion kWh of electricity, reflecting a production increase of 3.69% year-on-year[55]. Energy Capacity and Projects - The installed capacity of new energy projects increased by 6,700.263 MW, with wind power projects contributing 2,594.2 MW and solar projects 1,704.823 MW, raising the proportion of low-carbon clean energy installations to 40.37%[35]. - The company approved power projects totaling 14,744.9 MW, including 4,660 MW for coal-fired projects and 8,053.1 MW for solar projects[35]. - The total installed capacity of the company was approximately 79,111.227 megawatts, with a low-carbon clean energy capacity ratio of 40.37%, an increase of 2.62 percentage points from the end of last year[44]. - The company added 6,700.263 megawatts of new installed capacity during the reporting period, including 2,400 megawatts of coal-fired capacity and 2,594.2 megawatts of wind power[44]. Financial Management and Investments - The company’s financing capabilities were strengthened with a total issuance of medium-term notes and short-term financing bonds amounting to 16 billion yuan[45]. - Total R&D investment amounted to 2,435,987,000 CNY, which is 1.97% of operating revenue, with capitalized R&D accounting for 79.58% of the total[59]. - The company reported a year-on-year increase of 109.35% in photovoltaic power generation, reaching 115.887 million kWh[71]. - The company has invested a total of RMB 5,498,410,000 in significant non-equity investments, with a 44% stake in Fujian Ningde Nuclear Power Co., Ltd. and a 28% stake in Datang Tashan Coal Mine Co., Ltd.[85]. Governance and Compliance - The company has established a comprehensive internal control system, with no major deficiencies identified in financial reporting controls[102]. - The company maintains independence from its controlling shareholder, ensuring separate assets, personnel, and financial management[103]. - The company has made commitments to avoid competition with its controlling shareholder, with ongoing updates to these commitments[104]. - The board of directors held 13 meetings during the reporting period, ensuring compliance with regulations and timely disclosure of decisions[101]. Environmental Responsibility - The company has established an environmental protection mechanism in compliance with regulatory requirements[147]. - The company achieved emissions compliance across all its thermal power plants, meeting or exceeding national emission standards[155]. - The company has implemented a self-monitoring scheme for environmental compliance, regularly reporting to the national pollution permit management platform[158]. - The company has invested a total of 1,802.498 million yuan in poverty alleviation and rural revitalization projects during the reporting period[164]. Future Outlook - The company aims to enhance its core functions and competitiveness while focusing on high-quality development and operational efficiency in 2025[92]. - The company plans to promote the clean and efficient use of coal power and accelerate the development of renewable energy projects[93]. - The company expects continued growth in electricity sales due to increased grid electricity volume in 2024[54]. - The company is focusing on expanding its renewable energy capacity, particularly in solar and wind, to align with market trends and regulatory requirements[78].

大唐国际发电股份有限公司 2025 年半年度上网电量完成情况公告 特别提示 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 证券代码：601991 证券简称：大唐发电 公告编号：2025-033 一、公司电量情况 大唐国际发电股份有限公司（"本公司"或"公司"）宣布，根据本公司 初步统计，截至 2025 年 6 月 30 日，本公司及子公司累计完成上网电量约 1,239.934 亿千瓦时，同比上升约 1.30%，其中： | 电源种类 | 2025 年半年度上网电量（亿千瓦时） | 同比 | | --- | --- | --- | | 煤机 | 873.518 | -1.65% | | 燃机 | 83.986 | -8.41% | | 水电 | 134.474 | 1.55% | | 风电 | 112.382 | 31.27% | | 光伏 | 35.573 | 36.35% | | 合计 | 1,239.934 | 1.30% | 本公司上网电量变化的主要原因是： 2025 年上半年，受全社会用电量增加、新能源装机容量持 ...

证券代码：601991 证券简称：大唐发电 公告编号：2025-032 大唐国际发电股份有限公司 关于完成 2025 年科技创新可续期公司债券（第一期） 发行的公告 特别提示 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 大唐国际发电股份有限公司("公司") 面向专业投资者公开发行面值不超 过人民币300亿元的公司债券已经上海证券交易所审核同意，并已收到中国证券 监督管理委员会《关于同意大唐国际发电股份有限公司向专业投资者公开发行公 司债券注册的批复》(证监许可〔2025〕1334号)。 公司已于2025年7月15日完成了"大唐国际发电股份有限公司2025年面向专 业投资者公开发行科技创新可续期公司债券（第一期）"（"本期债券"）的发 行。本期债券的发行规模为人民币20亿元，基础期限为5年，以每5个计息年度为 1个周期，在约定的基础期限期末及每一个周期末，公司有权行使续期选择权， 按约定的基础期限延长1个周期（即延长5年）；公司不行使续期选择权则全额到 期兑付本期债券。本期债券的票面利率为1.93%。 特此公告。 大唐 ...

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之任何損失承擔 任 何 責 任。 (II) 國資委批覆的專項債資金詳情 00991 補充公告 關連交易－提供委託貸款 茲提述大唐國際發電股份有限公司（「本公司」）日期為2025年6月27日的公告（「該 公 告」），內 容 有 關 通 過 大 唐 財 務 公 司 向 甘 孜 水 電 公 司 提 供 金 額 為 人 民 幣 10 億 元 的 委 託 貸 款，雙 方 均 為 本 公 司 關 連 人 士。除 文 義 另 有 所 指 外，本 公 告 所 用 詞 語 與 該 公 告 所 界 定 者 具 有 相 同 涵 義。 本 公 司 謹 此 提 供 有 關 該 公 告 的 其 他 資 料。 (I) 通過大唐財務公司提供委託貸款的原因 根 據 中 國 人 民 銀 行 發 佈 的《貸 款 通 則》第 六 十 一 條，企 業 之 間 不 得 直 接 辦 理 借 貸 業 務，但 通 過 金 融 ...

Summary of Key Points Core Viewpoint - As of July 14, a total of 138 stocks reached their 52-week highs, indicating a strong performance in the market, with notable leaders including Green Heart Group Holdings, OK Blockchain, and Pearl River Steel Pipe [1]. Group 1: Top Performers - Green Heart Group Holdings (02999) achieved a closing price of 0.013 with a peak of 0.017, marking a 70.00% increase [1]. - OK Blockchain (01499) closed at 0.680, reaching a high of 0.690, reflecting a 48.39% rise [1]. - Pearl River Steel Pipe (01938) had a closing price of 0.335 and a peak of 0.340, resulting in a 33.33% increase [1]. Group 2: Other Notable Stocks - Weishi Jiajie (00856) saw a 32.01% increase, closing at 8.870 with a high of 11.300 [1]. - Cloud Intelligence (09678) reached a high of 520.000, closing at 510.000, which is a 20.99% increase [1]. - China Chengtong Development Group (00217) closed at 0.165 with a peak of 0.166, marking a 14.48% rise [1]. Group 3: Additional Stocks with Significant Increases - Sihuan Pharmaceutical (00460) closed at 1.380, reaching a high of 1.430, which is a 14.40% increase [1]. - Taited Pharmaceutical (03880) had a closing price of 36.950 and a peak of 37.400, reflecting a 13.85% rise [1]. - Beihai Kangcheng-B (01228) closed at 0.850 with a high of 0.960, resulting in a 12.94% increase [1].

Group 1 - The maximum national electricity load reached 1.465 billion kilowatts, setting a historical record, which accelerates the construction of a new power system and enhances response capabilities [1] - The National Development and Reform Commission reported that the power supply capacity is being improved, with the power supply and demand situation for the summer peak being better than last year, ensuring overall balance [1] - The State Grid is deepening the application of "AI + repair" to enhance efficiency in energy management and fault recovery [1] Group 2 - In 2025, the total investment in the two grids is expected to reach a historic high of 825 billion yuan, with a focus on transmission grid investments [2] - The State Grid has initiated reforms to support incremental distribution reform trials and is actively researching virtual power plants and new energy storage [2] Group 3 - The Southern Power Market has transitioned to continuous settlement trial operation, allowing for daily trading and real-time cross-province electricity transactions [3] - The market now includes 220,000 market participants with daily trading volume of 3.8 billion kilowatt-hours, indicating a shift towards a more diversified electricity trading environment [3] - The upcoming summer peak demand and the acceleration of the national unified electricity market construction are expected to positively impact the electricity sector [3] Group 4 - Relevant Hong Kong stocks in the electricity sector include China Huadian Corporation (01071), Huaneng International Power Development (00902), China Power International Development (02380), China Resources Power (00836), Datang International Power Generation (00991), and China General Nuclear Power (01816) [4] Group 5 - Key companies in the power equipment sector include Dongfang Electric (01072), Shanghai Electric (02727), and Harbin Electric (01133) [5]