山高新能源 截至2025年7月31日止7个月，集团、其联营公司及合营企业所持有及╱或管理的项目累计总营运发电量 约428.86万兆瓦时，较2024年同期增长约7.4%。 山高新能源(01250)发布公告，2025年7月集团、其联营公司及合营企业所持有及╱或管理的项目的营运 发电量约61.71万兆瓦时，较2024年同期增长11.1%。 分时图 日K线 周K线 月K线 2.28 -0.02 -0.87% 2.61% 1.74% 0.87% 0.00% 0.87% 1.74% 2.61% 2.24 2.26 2.28 2.30 2.32 2.34 2.36 09:30 10:30 12:00/13:00 14:00 16:10 0 7333 1万 2万 ...

智通财经APP讯，山高新能源(01250)发布公告，2025年7月集团、其联营公司及合营企业所持有及╱或 管理的项目的营运发电量约61.71万兆瓦时，较2024年同期增长11.1%。 截至2025年7月31日止7个月，集团、其联营公司及合营企业所持有及╱或管理的项目累计总营运发电量 约428.86万兆瓦时，较2024年同期增长约7.4%。 ...

截至2025年7月31日止七个月，集团、其联营公司及合营企业所持有及╱或管理的项目累计总营运发电 量约4,288,565兆瓦时，较2024年同期增长约7.4%。 格隆汇9月9日丨山高新能源(01250.HK)宣布，根据公司现有的初步统计，2025年7月集团、其联营公司 及合营企业所持有及╱或管理的项目的营运发电量约617,130兆瓦时，较2024年同期增长11.1%。 ...

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。 （於開曼群島註冊成立之有限公司） 2 本公司股東及╱或潛在投資者應注意，上文的資料依據內部管理資料之初步評估 後提供，且該等資料僅供投資者參考。而並非本集團於本期間或二零二五年十二月 三十一日止全年度所產生或衍生的收入或溢利或本集團任何財務表現的陳述、參考 或計算基礎。 （股份代號：01250） 二零二五年七月發電量之概要 山高新能源集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）為了讓本公司 的股東及潛在投資者了解本集團的最新業務發展而刊發本自願性公告。 本公司董事（「董事」）會（「董事會」）宣佈，根據本公司現有的初步統計，二零二五 年七月本集團、其聯營公司及合營企業所持有及╱或管理的項目之營運發電量約 617,130兆瓦時（「兆瓦時」），較二零二四年同期增長11.1%。截至二零二五年七月 三十一日止七個月，本集團、其聯營公司及合營企業所持有及╱或管理的項目累計 總營運發電量約4,288,56 ...

Core Viewpoint - Shandong High New Energy (01250) and Shandong High Holdings (00412) announced a loan agreement with Ping An Bank Beijing Branch, indicating a strategic financial move to support their operations in the renewable energy sector [1] Group 1: Loan Agreement Details - Shandong High Photovoltaic, a wholly-owned subsidiary of Shandong High New Energy and a non-wholly-owned subsidiary of Shandong High Holdings, is the borrower in the loan agreement [1] - The loan amount provided by Ping An Bank Beijing Branch is RMB 868 million [1]

Group 1 - The core announcement involves a loan agreement between Shango New Energy and Ping An Bank, where Shango Photovoltaic, a subsidiary of Shango New Energy, will receive a loan of RMB 868 million [1] - The loan agreement is set to be executed on September 5, 2025, indicating a future financial commitment [1] - This financial arrangement highlights the ongoing investment and financing activities within the renewable energy sector, particularly in photovoltaic technology [1]

（於開曼群島註冊成立之有限公司） （股份代號：01250） （於百慕達註冊成立之有限公司） （股份代號：412） 聯合公告 有關貸款合同之關連交易 訂立貸款合同 山高新能源董事會及山高控股董事會各自宣佈，於二零二五年九月五日（交易時 段後），山高光伏（為山高新能源之間接全資附屬公司及山高控股之間接非全資附 屬公司，作為借款人）與平安銀行北京分行（作為貸款人）訂立貸款合同。根據貸款 合同，平安銀行北京分行同意向山高光伏提供人民幣868,334,134.50元的貸款。 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聯合公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本聯合公告 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。 上市規則之涵義 於本聯合公告日期，由於︰i)中國平安保險（集團）股份有限公司通過其附屬公司 持有天津富歡企業管理諮詢有限公司（為山高新能源之間接非全資附屬公司及山 高控股之間接非全資附屬公司）超過10%的股份，而平安銀行為中國平安保險（集 團）股份有限公司之附屬公司；及ii)山高控股直接持有山高新能源之已發行股本約 60.66%。根據 ...

Core Viewpoint - The report highlights the performance and strategic developments of Shango New Energy, emphasizing its financial results and growth potential in the integrated AI computing ecosystem [1][2][3] Financial Performance - For the first half of fiscal year 2025, the company reported total revenue of RMB 2.4 billion and net profit of RMB 287 million, aligning with previous estimates [1] - Profit improvement was driven by three main factors: enhanced profits from joint ventures and associates, refinancing to lower-cost financing, and effective cost control leading to reduced management expenses [1] Wind Power Development - As of June 30, 2025, the total installed capacity of wind power projects under construction and approved reached 4.9 GW, with 13 projects of 100 MW or more [2] - The company has a grid-connected wind power project capacity of 234 MW in Shandong and a wind power reserve of 991 MW, which could exceed 1 GW upon completion, representing a growth of over 300% [2] Integrated AI Computing Ecosystem - The collaboration with Century Internet for IDC business aims to create a synergistic effect, utilizing both "base-type" and "city-type" operations [2] - The Ulanqab base's single-unit design power density reaches 8 kW, 60% higher than traditional data centers, which will support AI infrastructure with green electricity once connected to the grid [2] Strategic Partnerships - A memorandum of understanding with Shandong High-speed Group aims to promote strategic cooperation, enhancing mutual advantages for high-quality development [3] - The comparison with Equinix, a global leader in AIDC, highlights the establishment of a competitive moat for Shango New Energy through deep engagement in renewable energy and green asset valuation premiums [3] ESG and Financial Strategy - Equinix's deep involvement in renewable energy, green bond financing, and ESG ratings is expected to lower WACC and operational costs, thereby increasing ROIC and attracting long-term capital [3] - The trend towards ESG is anticipated to enhance the valuation of "green assets," contributing to sustained growth in corporate market value [3]

Group 1: Financial Performance - In the first half of 2025, the company reported total revenue and net profit of RMB 2.4 billion and RMB 287 million, respectively, aligning closely with updated forecasts of RMB 2.479 billion and RMB 285 million [1] - Gross profit reached RMB 1.203 billion, with a gross margin of 50.2%, while administrative expenses decreased to RMB 201 million, reflecting ongoing cost optimization and operational efficiency efforts [1] - Net profit attributable to shareholders increased by 4% year-on-year, driven by improvements in joint ventures, refinancing to lower financing costs, and reduced management expenses [1] Group 2: Wind Power Development - As of June 2025, the company had a total installed capacity of 4.9 GW in construction and approved projects, including 13 projects of 100 MW or more and 890 MW of projects awaiting approval [1] - The company’s wind power project capacity in Shandong is 234 MW, with an additional 991 MW in reserve, indicating a potential increase of over three times in grid-connected projects once all reserves are completed [1] - The company is also pursuing offshore wind projects in Shandong [1] Group 3: AI and Data Center Integration - By the end of 2024, China's computing power is expected to reach 414 EFlops, with a projected compound annual growth rate of 44% from 2024 to 2026, leading to significant increases in data center capacity and electricity consumption [2] - The company has formed a partnership with Century Internet for IDC business, utilizing both "base" and "city" models, with the Ulanqab base achieving a power density of 8 kW per rack, 60% higher than traditional data centers [2] - The integration of green electricity from the Ulanqab project is anticipated to provide substantial support for AI infrastructure [2] Group 4: Strategic Partnerships and Valuation - The company is collaborating with Shandong High-Speed Group to enhance integrated energy capabilities, aiming for mutual benefits and high-quality growth [3] - Compared to global leader Equinix, the company is building a competitive edge through its integrated AI computing ecosystem and deep involvement in renewable energy [3] - The company's stock is currently undervalued at HKD 2.15, with a market capitalization of HKD 48.3 billion, and a forward P/E ratio of 16, below the industry average of 20, presenting an attractive investment opportunity [3]

Valuation Suggests Upside Potential. Despite its solid fundamentals and expansion momentum, SHNE remains undervalued relative to peers. The company's shares are currently trading at HK$2.15, equating to a market capitalization of HK$4,830 million. Based on projected CY2025 EPS of HK$0.14, this implies a forward P/E ratio of 16x—below the peer average of 20x. This valuation discount presents an attractive entry point for investors, especially considering SHNE's strategic focus on green computing power and it ...