Financial Performance - The company's operating revenue for the first half of the year reached RMB 212,091,238 thousand, representing a year-on-year increase of 9.18% compared to RMB 194,261,759 thousand in the same period last year[29]. - The total profit for the reporting period was RMB 6,562,291 thousand, up 5.49% from RMB 6,220,555 thousand in the previous year[29]. - The net profit attributable to shareholders of the listed company was RMB 2,801,838 thousand, a slight increase of 0.72% from RMB 2,781,881 thousand year-on-year[29]. - The net cash flow from operating activities was negative at RMB -13,400,893 thousand, an improvement from RMB -14,514,997 thousand in the previous year[29]. - The total assets at the end of the reporting period were RMB 938,735,064 thousand, reflecting an 8.02% increase from RMB 869,004,776 thousand at the end of the previous year[29]. - The net assets attributable to shareholders of the listed company increased to RMB 117,990,852 thousand, a growth of 1.71% from RMB 116,011,181 thousand[29]. - The basic earnings per share remained stable at RMB 0.063, while the diluted earnings per share also stood at RMB 0.063[30]. - The weighted average return on net assets decreased by 0.15 percentage points to 2.41% compared to the previous year[30]. - The company reported non-recurring gains and losses totaling RMB 280,455 thousand, after accounting for tax effects and minority interests[34]. Strategic Initiatives - The company is committed to innovation and green development, aligning with its strategic goals for the future[1]. - The company aims to establish a "Four New" alliance focusing on new energy, new infrastructure, new industries, and new materials, initiated in November 2023[21]. - The "1466" strategy emphasizes becoming a world-class energy integration solution provider and enhancing core competitiveness through six major breakthroughs[21]. - The company reported a significant focus on green and low-carbon transformation, aligning with national energy revolution goals[21]. - The establishment of a new energy international investment alliance in June 2018 aims to enhance China's influence in the global clean energy sector[21]. - The company is actively involved in the supply chain alliance to improve management efficiency and resource stability in the construction industry[21]. - The new energy storage alliance, launched in November 2023, aims to innovate and lead the industry in energy storage technology[21]. - The company is committed to digital intelligence and shared integration as part of its transformation strategy[21]. - The focus on public-private partnerships (PPP) aims to enhance public service efficiency through collaboration with social capital[21]. - The company is dedicated to promoting the integration of energy networks, transportation networks, and digital networks to support sustainable development[21]. - The company emphasizes the importance of technological innovation and resource sharing to drive high-quality development in the energy sector[21]. Market and Industry Trends - The company operates in a stable economic environment, with China's GDP growing by 5.3% year-on-year in the first half of 2025, indicating a positive outlook for the industry[38]. - In the first half of 2025, new installed capacity for wind power reached 51.39 million kW, solar power 212 million kW, and biomass power 710,000 kW, with year-on-year growth of 22.7%, 54.2%, and 3% respectively[40]. - The total investment in the hydrogen energy sector in the first half of 2025 was approximately RMB 230.4 billion, a year-on-year decrease of 40.2%[40]. - New energy storage capacity reached 94.91 million kW (222 million kWh) in the first half of 2025, an increase of about 29% compared to the end of 2024[41]. - The total investment in national power engineering in the first half of 2025 was RMB 363.5 billion, a year-on-year increase of 5.9%[43]. - The total investment in the national grid engineering was RMB 291.1 billion, a year-on-year increase of 14.6%[43]. - In the first half of 2025, the total cross-regional electricity transmission reached 436.6 billion kWh, a year-on-year increase of 11.8%[43]. - The total investment in water conservancy construction in the first half of 2025 was RMB 532.9 billion, with 34,400 water projects implemented[45]. Corporate Governance and Compliance - The report complies with the disclosure requirements of the Shanghai and Hong Kong stock exchanges[10]. - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans[8]. - There are no instances of non-operational fund occupation by controlling shareholders or related parties reported[9]. - The company has not violated decision-making procedures in providing guarantees[9]. - The company has conducted related party transactions in compliance with the Hong Kong Listing Rules and Shanghai Stock Exchange Listing Rules[155]. - The company guarantees that all assets are under its control and will not illegally occupy funds or assets[152]. - The company has committed to independent financial decision-making and tax obligations[152]. - The company has outlined plans for future compliance with new regulations from the China Securities Regulatory Commission regarding performance compensation measures[151]. Investment and Financing Activities - The company plans to raise up to RMB 9 billion through a private placement to invest in multiple renewable energy projects, including a 300 MW compressed air energy storage project in Hubei[119]. - The company completed external investments totaling RMB 41.2 billion during the reporting period, with RMB 15.3 billion allocated to new energy and integrated smart energy businesses[96]. - The company signed new contracts worth RMB 174.1 billion in the surveying, design, and consulting business in the first half of 2025, reflecting a year-on-year growth of 52.1%[50]. - The engineering construction business of the company reported new contracts worth RMB 717.04 billion in the first half of 2025, marking a year-on-year increase of 9.2%[51]. - The company’s strategic emerging industries revenue increased by 14.6% year-on-year in the first half of 2025, accounting for 37.3% of total revenue[64]. Human Resources and Training - The company has conducted extensive training programs covering over 600,000 participants to enhance employee skills and capabilities[116]. - The company has organized numerous training sessions, including specialized programs in artificial intelligence, to foster technological innovation[116]. - The company has appointed new executives, including two vice presidents, to strengthen its management team[123]. Shareholder and Equity Information - The total number of ordinary shareholders as of the end of the reporting period is 334,967[192]. - China Energy Engineering Group holds 18,847,137,078 shares, accounting for 45.21% of the total shares[194]. - The company’s total share capital structure remained unchanged during the reporting period[189]. - The largest shareholder, China Energy Engineering Group, plans to increase its shareholding by April 14, 2025[198]. - The ownership structure indicates significant control by major shareholders, with various entities holding substantial stakes in both A and H shares[200].

A 股代码：601868 A 股简称：中国能建 公告编号：临 2025-050 H 股代码：03996 H 股简称：中国能源建设 中国能源建设股份有限公司 关于接待机构投资者调研活动的公告 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。 一、机构调研情况 1.调研时间：2025年9月16日 2.调研形式：现场交流 3.调研机构（排名不分先后）：中金公司、中信证券、华 泰证券、广发证券、浙商证券、国盛证券、国联证券、国泰海 通、方正证券、财通证券、开源证券、长江证券、光大证券、 天风证券、诚通证券、申万宏源、华创证券、华安证券、太平 洋证券、国海证券、金元证券、华福证券、中移资本、国新资 管、中金资管、中银资管、泰康基金、幸福人寿、天弘基金、 富国基金、银华基金、平安基金、南方基金、长城基金、新华 资产、中邮基金、前海开源、众安保险、国新投资、国厚资 产、南华资管、清河泉、太平洋资管、润晖投资、中邮保险资 管、长盛基金、民生加银、征金资本等 4.调研主题：中国能建与控股上市公司易普力联合反向路 演 未来，中国能建将以国家八大算 ...

Group 1 - On September 15, China Energy Construction Co., Ltd. (China Energy) saw a stock price increase of 0.41% with a trading volume of 977 million yuan [1] - The financing data for China Energy on the same day indicated a financing purchase amount of 173 million yuan and a financing repayment of 223 million yuan, resulting in a net financing outflow of approximately 50.5 million yuan [1] - As of September 15, the total balance of margin trading for China Energy was 1.364 billion yuan, with the financing balance accounting for 1.71% of the circulating market value, which is above the 80th percentile level over the past year [1] Group 2 - China Energy was established on December 19, 2014, and went public on September 28, 2021, primarily engaged in construction contract business [2] - The company operates through five business segments, with construction services contributing 85.81% to total revenue, including 32.38% from new energy and integrated smart energy [2] - Other revenue sources include industrial manufacturing (7.66%), investment operations (7.16%), and surveying, design, and consulting (4.29%) [2] Group 3 - As of June 30, the number of shareholders for China Energy was 335,000, a decrease of 2.54% from the previous period [3] - For the first half of 2025, China Energy reported a revenue of 212.09 billion yuan, representing a year-on-year growth of 9.18%, and a net profit attributable to shareholders of 2.802 billion yuan, with a growth of 0.72% [3] - The company has distributed a total of 4.686 billion yuan in dividends since its A-share listing, with 3.748 billion yuan distributed over the past three years [3]

Core Insights - The new campus of Anhui Medical University, with a total investment of approximately 6.7 billion yuan, officially opened with nearly 15,000 faculty and students moving in, marking a significant expansion in both space and development philosophy [1][9] - The campus aims to become a national-level medical innovation hub, integrating "smart and green" concepts into its design and operations [1][6] Infrastructure and Facilities - The new campus covers over 2,000 acres with a total construction area of 970,000 square meters, featuring three core teaching buildings named "Zhiyuan," "Tanwei," and "Xunzhen," which symbolize the academic journey from knowledge acquisition to truth exploration [2][3] - The campus includes a comprehensive research building that houses six major departments, promoting interdisciplinary collaboration and the cultivation of compound talents in the "new medical" field [3][4] Technological Integration - The East District's "Tanwei Building" connects with the high-level public health college, enhancing interdisciplinary cooperation and resource sharing [4] - The campus is equipped with 162 smart classrooms and a library with nearly 10,000 volumes, designed to foster an engaging learning environment [6] Sustainability Initiatives - The campus emphasizes sustainability, featuring extensive photovoltaic panels on rooftops to provide clean energy and a "sponge city" system for rainwater collection and purification [8][9] - The landscaping includes a variety of trees and plants, contributing to a rich ecological environment that also serves to regulate the microclimate [8] Project Management and Recognition - The project, led by China Energy Construction Anhui Electric Power Construction Company, has been recognized as a model for high-quality public welfare projects in Anhui Province, integrating advanced management techniques such as AI and BIM for lifecycle management [9][11] - The project has received multiple accolades for safety and innovation, showcasing the company's commitment to quality and excellence in construction [9][11]

"刚到公司时，我既期待又忐忑，不知道该如何快速适应职场生活。但这场迎新主题座谈会，让我心里 的石头落了地。" 新员工小李在参加完座谈会后，脸上露出了轻松的笑容。为帮助新员工缓解初入职场 的陌生感与焦虑感，东电二公司第一时间组织开展迎新主题座谈会。会上，老员工与新员工围坐在一 起，像朋友般畅聊起来。老员工们结合自身经历，分享了职业发展过程中的宝贵经验，也毫无保留地传 授了环境适应、人际关系处理等方面的实用技巧；新员工们则积极提问，将心中的困惑与迷茫一一倾 诉。现场氛围热烈而温馨，一阵阵欢声笑语拉近了彼此的距离。 "我们深知，新员工能否快速融入团队，是他们实现角色转换的关键。因此，公司特别安排业务骨干与 新员工'结对子'，建立'一对一'帮扶机制。" 各工程公司项目负责人在座谈会上明确表示。这些业务骨 干不仅会在工作中为新员工提供指导，帮助他们熟悉工作流程、掌握工作方法，还会在生活中关心他们 的需求，为他们解决住宿、饮食等方面的问题。通过这种 "一对一" 的帮扶，新员工们感受到了公司的 温暖与关怀，也更快地找到了归属感，逐步融入东电二公司这个大家庭。 知识赋能："理论 + 实践"，夯实专业根基 来源：环球网 八月流 ...

Group 1 - The project management team of China Energy Construction Gezhouba Group's Mengdigou project focuses on resource allocation and optimizing construction processes to ensure project implementation and achieve annual goals [1] - The team emphasizes cost control and enhancing operational efficiency, adhering to the principle of "profit is honor, loss is shame" [1] - As of now, 90% of site traffic has been completed, and 90% of the right bank's dangerous rock slope treatment has been finished [1] Group 2 - The project management team has improved the quality management system, enhancing daily quality supervision and training, which has significantly reduced quality issues on-site [2] - The team has successfully created demonstration processes and model warehouses in the Mengdigou construction area, setting a benchmark for similar projects [2] Group 3 - The project department's party branch has deepened grassroots party building efforts, optimizing organizational mechanisms and promoting the integration of party work with production management [3] - The project has actively engaged in community activities, addressing 12 urgent issues for workers and fostering a vibrant work environment through various cultural events [3]

Core Viewpoint - The Hebei Fengning Pumped Storage Power Station, the world's largest in terms of installed capacity, has officially commenced commercial operation, contributing to energy security with green power [1][3]. Group 1: Project Overview - The Fengning Pumped Storage Power Station is located in Fengning Manchu Autonomous County, Chengde City, Hebei Province, with a total installed capacity of 3.6 million kilowatts [3]. - The annual designed power generation capacity is 66.12 billion kilowatt-hours, while the annual water pumping capacity is 87.16 billion kilowatt-hours [3]. - The project holds the world record for total installed capacity, energy storage capacity, underground plant chamber scale, and single underground plant scale, earning it the nickname "the world's largest power bank" [3]. Group 2: Construction and Technology - China Energy Construction Gezhouba Group Co., Ltd. is responsible for key construction tasks including the upper and lower reservoirs, water inlet and outlet, gate wells, and dam [3]. - The project management team has implemented advanced technologies such as digital dam management, rapid quality testing for roller compacted concrete, intelligent digital grouting, and slipform construction techniques [3]. Group 3: Energy Integration and Environmental Impact - The Fengning Pumped Storage Power Station is the first to connect to a 500 kV flexible DC grid, achieving multi-energy complementarity and enhancing the ability to absorb and deliver renewable energy [3]. - Since the first batch of units was put into operation in December 2021, the station has generated a total of 86.16 billion kilowatt-hours and absorbed 109.02 billion kilowatt-hours of renewable energy and off-peak electricity [3]. - Upon full operation, the station is expected to save 480,800 tons of standard coal annually and reduce carbon dioxide emissions by 1.2 million tons, playing a significant role in optimizing energy structure and reducing carbon emissions [3].

Group 1 - The construction of the granite mining project in Deqing County, Zhaoqing City, Guangdong Province is nearing completion and is expected to commence operations by the end of this year, becoming a significant high-end sand and gravel aggregate supply base for the Guangdong-Hong Kong-Macao Greater Bay Area [1] - The project represents the largest reserve and highest annual production capacity sand and gravel project in China Energy Construction's history, with a total investment of approximately 3.05 billion yuan and a recoverable resource of nearly 364 million tons, with a production scale of 16 million tons per year [1] - As of now, the industrial square's civil engineering work is nearly complete, with 90% of equipment installation and steel structure factory installation progressing smoothly, while safety facility construction at the mining sites is also advancing [1] Group 2 - Once operational, the project will significantly enhance China Energy Construction's competitiveness and influence in the building materials sector, aiming to provide not only products but also to share green mining construction and management experiences, contributing to the high-quality development of the regional economy [2] - The project is expected to contribute over 80 million yuan in tax revenue annually to Deqing County and directly provide over 300 stable jobs, playing a crucial role in driving local economic development and increasing employment for the community [3]

Group 1 - The core point of the article is the announcement of an EPC contract between Heze Shango Energy and a joint contractor for a wind power project in Shandong Province, China [1] - The total contract value is approximately RMB 1.011 billion, which includes all taxes and may be adjusted based on changes in national tax policies [1] - The project involves a distributed wind power capacity of 175 megawatts located in Yuncheng County, Heze City, Shandong Province [1]

Core Viewpoint - Shandong High New Energy and Shandong High Holdings announced the signing of an EPC contract for a 175 MW distributed wind power project in Shandong Province, with a total contract value of approximately RMB 1.011 billion, including all taxes [1] Group 1 - The EPC contract was signed between Heze Shandong High Energy, a wholly-owned subsidiary of Shandong High New Energy, and the joint contractors, China Energy Engineering Second Construction Company and Zhengchen Technology [1] - The project is located in Yuncheng County, Heze City, Shandong Province [1] - The total contract price is subject to adjustment based on changes in national tax policies [1]