证券代码：600027 证券简称：华电国际 公告编号：2025-070 华电国际电力股份有限公司 关于发行股份及支付现金购买资产并募集配套 资金暨关联交易之募集配套资金向特定对象 发行股票发行结果暨股本变动的公告 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法律责任。 重要内容提示： 发行数量和价格： 股票种类：人民币普通股（A 股） 发行价格：4.86 元/股 发行数量：705,349,794 股 预计上市时间： 本次发行的新增股份已于 2025 年 8 月 22 日在中国证券登记结算有限责任公司上海 分公司（以下简称"中证登上海分公司"）办理完毕股份登记手续。本次新增股份可在 其限售期满的次一交易日在上海证券交易所上市交易（如遇法定节假日或休息日，则顺 延至其后的第一个交易日）。限售期自股份发行结束之日起开始计算。 一、本次发行概况 （一）本次发行的内部决策程序、中国证监会同意注册的决定及文号 1. 本次交易已经华电国际电力股份有限公司（以下简称"本公司"或"华电国际"） 2024 年第四次临时股东大会审议通过； 1 2. 本次交 ...

证券代码：600027 证券简称：华电国际 上市地点：上海证券交易所 华电国际电力股份有限公司 发行股份及支付现金购买资产并募集配套资金 暨关联交易 实施情况暨新增股份上市公告书（摘要） 独立财务顾问（联席主承销商） 1 上市公司声明 本部分所述词语或简称与公告书"释义"所述词语或简称具有相同含义。 1、本公司及全体董事、监事、高级管理人员保证公告书内容的真实、准确、完整， 并对其虚假记载、误导性陈述或者重大遗漏承担法律责任。 二〇二五年八月 特别提示 一、本次发行仅指本次交易募集配套资金部分的股份发行。 二、本次发行新增股份上市数量为 705,349,794 股人民币普通股（A 股）。 三、本次发行新增股份的发行价格为 4.86 元/股。 四、本次发行股份购买资产的新增股份已于 2025 年 8 月 22 日在中国证券登记结算 有限责任公司上海分公司办理完成了登记手续，并取得中国证券登记结算有限责任公司 上海分公司出具的《证券变更登记证明》。 五、本次发行完成后，上市公司股份分布仍满足《公司法》《证券法》及《上市规 则》等法律、法规规定的股票上市条件。 2、本公司负责人和主管会计工作的负责人、会计机构负责人 ...

证券代码：600027 证券简称：华电国际 上市地点：上海证券交易所 华电国际电力股份有限公司 发行股份及支付现金购买资产并募集配套资金 暨关联交易 三、本次发行新增股份的发行价格为 4.86 元/股。 四、本次发行股份购买资产的新增股份已于 2025 年 8 月 22 日在中国证券登记结算 有限责任公司上海分公司办理完成了登记手续，并取得中国证券登记结算有限责任公司 上海分公司出具的《证券变更登记证明》。 实施情况暨新增股份上市公告书 独立财务顾问 二〇二五年八月 特别提示 一、本次发行仅指本次交易募集配套资金部分的股份发行。 二、本次发行新增股份上市数量为 705,349,794 股人民币普通股（A 股）。 五、本次发行完成后，上市公司股份分布仍满足《公司法》《证券法》及《上市规 则》等法律、法规规定的股票上市条件。 1 上市公司声明 本部分所述词语或简称与本公告书"释义"所述词语或简称具有相同含义。 1、本公司及全体董事、监事、高级管理人员保证本公告书内容的真实、准确、完 整，并对其虚假记载、误导性陈述或者重大遗漏承担法律责任。 2、本公司负责人和主管会计工作的负责人、会计机构负责人保证本公告书中所引 ...

华电国际最新一期业绩显示，截至2025一季报，公司营业总收入265.77亿元、同比减少14.14%，归属净 利润19.30亿元，同比增长3.66%，扣非净利润18.96亿元，同比增长17.01%，流动比率0.395、速动比率 0.344、资产负债率60.35%。 金融界消息 截至2025年8月25日收盘，华电国际（600027）报收于5.49元，上涨1.48%，换手率1.66%， 成交量140.95万手，成交金额7.71亿元。 资金流向方面，今日主力资金净流入3230.62万元，占比成交额4.19%。其中，超大单净流入4651.68万 元、占成交额6.03%，大单净流出1421.07万元、占成交额1.84%，中单净流出流出5438.02万元、占成交 额7.05%，小单净流入2207.40万元、占成交额2.86%。 来源：金融界 天眼查商业履历信息显示，华电国际电力股份有限公司，成立于1994年，位于济南市，是一家以从事电 力、热力生产和供应业为主的企业。企业注册资本1022756.1133万人民币，实缴资本784651万人民币。 公司法定代表人为刘雷。 通过天眼查大数据分析，华电国际电力股份有限公司共对外投资 ...

Investment Rating - The report provides a positive investment outlook for the electricity and natural gas sectors, recommending specific companies for investment based on their performance and market conditions [4][16]. Core Insights - In July, the national electricity consumption exceeded 1 trillion kWh for the first time, reaching 10,226 billion kWh, a year-on-year increase of 8.6% [4][7]. - The increase in electricity consumption was primarily driven by urban and rural residents, contributing 38% to the total growth, with significant contributions from the secondary and tertiary industries as well [8][9]. - The report highlights the impact of high temperatures on electricity demand, noting that July was the hottest month since 1961, which significantly boosted residential electricity usage [8][9]. - Natural gas prices in Europe have rebounded due to geopolitical tensions, while prices in Asia and the US have decreased, indicating a mixed market environment [16][20]. - The report emphasizes the potential for improved profitability in the biomass energy sector following the introduction of new methodologies for carbon emissions reduction [4][16]. Summary by Sections Electricity - July's total electricity consumption reached 10,226 billion kWh, marking a historic milestone with an 8.6% year-on-year growth [4][7]. - The first, second, and third industries, along with urban and rural residents, contributed to the overall electricity consumption growth, with the second industry showing a recovery in electricity usage [8][9]. - Recommendations include investing in hydropower, green energy, nuclear power, and thermal power companies such as Guodian Power and Huaneng International [14][15]. Natural Gas - The report notes a stable supply-demand balance in the natural gas market, with US prices dropping to $2.76/mmBtu, while European prices have seen fluctuations due to geopolitical risks [16][20]. - Recommendations for investment include companies in the city gas sector and integrated natural gas traders, highlighting firms like Kunlun Energy and New Hope Energy [41][42]. Environmental Sector - The introduction of new methodologies for biomass energy projects is expected to enhance profitability, with a focus on companies like Evergreen Group and China Everbright [4][16]. Market Performance - The report reviews market performance from August 18 to August 22, indicating that the gas, public utility, electricity, and environmental sectors underperformed compared to the Shanghai and Shenzhen 300 index [43][44].

Investment Rating - The report maintains a positive outlook on the electricity and gas sectors, indicating a favorable investment environment [5]. Core Insights - In July, the national electricity consumption exceeded 1 trillion kWh for the first time, reaching 10,226 billion kWh, a year-on-year increase of 8.6% [10][11]. - The increase in electricity consumption was primarily driven by urban and rural residents, contributing 38% to the total growth, while the secondary and tertiary industries contributed 33% and 25%, respectively [11]. - The report highlights the impact of high temperatures in July, which were 1.3°C above the historical average, leading to increased electricity demand from residential sectors [11]. - In the gas sector, European gas prices have rebounded due to geopolitical tensions, while Asian and US gas prices have declined [19][30]. - The report suggests that the gas supply-demand balance remains loose, with US gas production at historical highs, contributing to lower prices [22][23]. Summary by Sections 1. Electricity: July National Electricity Consumption Exceeds 1 Trillion kWh - The national electricity consumption reached 10,226 billion kWh in July, marking a historic milestone [10]. - The first industry saw a 20.2% increase in electricity consumption, while the second and third industries grew by 4.7% and 10.7%, respectively [12]. - Cumulative electricity consumption from January to July was 58,633 billion kWh, a 4.5% year-on-year increase [14]. 2. Gas: Gas Supply-Demand Remains Loose, Geopolitical Tensions Affect European Gas Prices - As of August 22, the Henry Hub spot price in the US was $2.76/mmBtu, a weekly decrease of 7.19% [19]. - The TTF spot price in Europe rose to €33.10/MWh, reflecting an 8.17% increase due to geopolitical tensions [20]. - The report notes that European gas inventories are significantly lower than last year and the five-year average, raising concerns about supply stability [30]. 3. Weekly Market Review - The report indicates that the gas, public utilities, electricity, and environmental sectors underperformed relative to the CSI 300 index during the period from August 18 to August 22 [47]. 4. Company and Industry Dynamics - The report mentions the release of a notice regarding the bidding arrangement for new energy projects in Gansu Province, indicating ongoing developments in the renewable energy sector [54]. - Key announcements from companies such as Guodian Power and Kunlun Energy highlight their financial performance and strategic initiatives [55][58]. 5. Key Company Valuation Table - The report includes a valuation table for key companies in the public utility sector, indicating buy ratings for several firms, including China Nuclear Power and Huaneng International [59].

Group 1 - Huadian International Power Co., Ltd. has invested 180 million RMB to establish Jiangsu Huadian Wangting Energy Development Co., Ltd., holding 100% of the shares [1] - Jiangsu Huadian Wangting Energy Development Co., Ltd. was established on December 2, 2024, with a registered capital of 180 million RMB [1] - The company is located in Suzhou and operates in the electricity and heat production and supply industry [1] Group 2 - The company is authorized to engage in power generation, transmission, and supply (distribution) activities, subject to approval from relevant authorities [1] - The company is also involved in heat production and supply, operating independently based on its business license, except for projects requiring legal approval [1]

Core Viewpoint - China's heavy-duty gas turbine technology has achieved a significant breakthrough with the "Hua Dian Rui Yi" F-class gas turbine's first-stage blade operating for over 2000 hours, setting a new record for domestic production [2][3][4]. Group 1: Breakthrough Details - The "Hua Dian Rui Yi" F-class gas turbine's first-stage blade achieved over 2000 hours of operation at Jiangsu Huadian Qishuyan Power Generation Co., marking a milestone in domestic heavy-duty gas turbine technology [2][3]. - The project involved extensive testing, including 48-hour and 1000-hour trials, which provided critical data for the long-duration operation [3]. - The first-stage blade is a key component of heavy-duty gas turbines, characterized by complex design and manufacturing processes, and its successful operation indicates a significant advancement in China's capability to produce high-temperature components [3][4]. Group 2: Industry Implications - The success of the "Hua Dian Rui Yi" project paves the way for fully domestically produced F-class gas turbines, enhancing China's position in the high-end equipment manufacturing sector [4]. - The global gas turbine market is projected to reach $28.14 billion in 2024, with a compound annual growth rate of 7.4% from 2025 to 2034, indicating a growing demand for gas turbines [5]. - The economic value of the hot-end components in heavy-duty gas turbines is significant, accounting for 30% to 40% of the total value, despite representing only 10% of the components [5][6]. Group 3: Recent Developments - In July, Dongfang Electric announced the successful commissioning of its M701F5 gas turbine, achieving an 85% localization rate, marking a significant step in domestic gas turbine production [6]. - The M701F5 project utilized advanced materials and designs, resulting in improved efficiency and output, further demonstrating the progress in China's gas turbine technology [6].

天眼查商业履历信息显示，华电国际电力股份有限公司，成立于1994年，位于济南市，是一家以从事电 力、热力生产和供应业为主的企业。企业注册资本1022756.1133万人民币，实缴资本784651万人民币。 公司法定代表人为刘雷。 通过天眼查大数据分析，华电国际电力股份有限公司共对外投资了136家企业，参与招投标项目5000 次，专利信息36条，此外企业还拥有行政许可22个。 来源：金融界 金融界消息 截至2025年8月22日收盘，华电国际（600027）报收于5.41元，下跌0.18%，换手率0.87%， 成交量73.98万手，成交金额3.98亿元。 资金流向方面，今日主力资金净流入4112.29万元，占比成交额10.33%。其中，超大单净流入2597.39万 元、占成交额6.52%，大单净流入1514.90万元、占成交额3.8%，中单净流出流出1715.43万元、占成交 额4.31%，小单净流出2396.86万元、占成交额6.02%。 华电国际最新一期业绩显示，截至2025一季报，公司营业总收入265.77亿元、同比减少14.14%，归属净 利润19.30亿元，同比增长3.66%，扣非净利润18.96亿元， ...

Group 1 - The Shanghai Composite Index opened high and fluctuated, with the CSI 300 Power Index reported at 2572.78 points [1] - The CSI 300 Power Index has decreased by 3.70% in the past month, 5.87% in the past three months, and 6.77% year-to-date [1] - The CSI 300 Index is categorized into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] Group 2 - The top ten weights in the CSI 300 Power Index are: Changjiang Electric (48.32%), China Nuclear Power (10.65%), Three Gorges Energy (8.79%), Guodian Power (5.75%), State Power Investment (5.02%), Huaneng International (4.56%), Chuanwei Energy (4.27%), China General Nuclear Power (4.15%), Zhejiang Energy (2.98%), and Huadian International (2.79%) [1] - The market segment of the CSI 300 Power Index is dominated by the Shanghai Stock Exchange at 95.49%, while the Shenzhen Stock Exchange accounts for 4.51% [1] Group 3 - In terms of industry composition within the CSI 300 Power Index, hydropower accounts for 59.96%, thermal power for 16.09%, nuclear power for 14.80%, and wind power for 9.15% [2] - The index sample is adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the CSI 300 Index [2]