Group 1 - Huaneng International has made progress in technological innovation by obtaining a utility model patent for a "detection device for power equipment," with the application number CN202421353416.7, officially authorized on July 18, 2025 [1] - The patent describes a detection device consisting of an upper box body, a lower box body, a control platform, and an innovative shielding mechanism that can switch between shielding and retracted states, enhancing operational safety by preventing external factors like rain from contacting the control platform [1] - The shielding mechanism includes a shielding plate and multiple auxiliary plates, which can rotate and slide, allowing for effective storage and portability of the device [1] Group 2 - Since the beginning of this year, Huaneng International has obtained 43 patent authorizations, a decrease of 59.43% compared to the same period last year [2] - Despite the reduction in patent authorizations, the company's R&D investment has increased, reaching 1.658 billion yuan, a year-on-year growth of 8.18% [2] - Huaneng International has invested in 208 enterprises and participated in 4,522 bidding projects, showcasing its extensive market activities [2] - The company holds 49 trademark registrations, 1,604 patent records, and 14 copyright registrations, along with 27 administrative licenses, indicating a strong accumulation and steady development across multiple fields [2]

Core Viewpoint - The Huaneng Binzhou New Energy 850,000 kW photovoltaic power generation project has transitioned to commercial operation, significantly enhancing clean energy supply for the manufacturing sector in Binzhou, Shandong Province [1] Group 1: Project Overview - The project covers an area of 15,800 acres and is the first three-dimensional confirmed photovoltaic sea project in China [1] - It was included in the national list of large wind and photovoltaic power generation bases in April 2023 and received approval for sea use in April 2024 [1] - The project is set to become the largest single renewable energy project in Shandong Province upon full capacity grid connection in March 2025 [1] Group 2: Technological Advancements - Advanced materials are utilized, including super weather-resistant steel for photovoltaic brackets and specialized marine photovoltaic components [2] - The project features high-efficiency N-type monocrystalline silicon batteries with a light-to-electricity conversion efficiency exceeding 24% [2] - The project employs a digital, intelligent, and unmanned operation and maintenance system, utilizing drones and robotic technology for automated inspections [3] Group 3: Environmental and Economic Impact - Since its commissioning, the project has generated a total of 380 million kWh of electricity, with an expected annual output of 1.286 billion kWh [3] - The project is projected to save 385,800 tons of standard coal and reduce carbon dioxide emissions by 917,700 tons annually [3] - It adopts a "fishing below, solar above" circular economy model, promoting ecological restoration and sustainable resource utilization [3]

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company's coal-fired power generation volume decreased by 3.46% year-on-year in Q2, but the decline was significantly narrower compared to Q1. Gas-fired power generation increased by 9.16% year-on-year. The average on-grid electricity price in Q2 was 0.482 yuan/kWh, a decrease of 0.017 yuan/kWh year-on-year. The average price of Qinhuangdao Q5500 thermal coal fell by 216.84 yuan/ton year-on-year, which will effectively alleviate the pressure from the decline in volume and price, leading to an expected improvement in coal-fired power performance in Q2. The rapid growth of renewable energy generation, driven by continuous capacity expansion, is also a positive factor for the company's performance outlook [2][12]. Summary by Sections Performance Overview - In Q2 2025, the company achieved an on-grid electricity volume of 99.049 billion kWh, a year-on-year increase of 1.44%. However, the total on-grid electricity volume for the first half of 2025 was 205.683 billion kWh, a decrease of 2.37% year-on-year. The average on-grid settlement price for the first half of 2025 was 485.27 yuan/MWh, down 2.69% year-on-year [6]. Cost and Pricing Analysis - The overall coal price has shown a downward trend in 2025, with the average price of Qinhuangdao Q5500 thermal coal at 631.61 yuan/ton in Q2, down 216.84 yuan/ton year-on-year. This significant reduction in costs is expected to alleviate the pressure from declining volume and price, leading to an improvement in the company's coal-fired power performance [12][12]. Renewable Energy Growth - The company added 1.0248 million kW of wind power and 2.8028 million kW of solar power in Q2 2025. By the end of June 2025, the total installed capacity for wind and solar power is expected to reach 20.04 million kW and 24.17 million kW, representing year-on-year growth of 21.31% and 60.18%, respectively. The rapid growth in renewable energy generation is anticipated to support stable performance in the company's renewable energy business [12][12]. Earnings Forecast - The earnings per share (EPS) for 2025-2027 are projected to be 0.78 yuan, 0.84 yuan, and 0.91 yuan, respectively, with corresponding price-to-earnings (PE) ratios of 9.02, 8.40, and 7.79 [12].

Group 1 - The Shanghai Composite Index opened lower but rose later, while the China Securities Public Utilities Index fell by 0.26% to 2486.53 points with a trading volume of 9.421 billion yuan [1] - The China Securities Public Utilities Index has decreased by 1.23% over the past month, increased by 0.59% over the past three months, and has declined by 3.17% year-to-date [2] - The top ten weights in the China Securities Public Utilities Index are: Changjiang Electric Power (15.15%), China Nuclear Power (10.46%), Three Gorges Energy (8.35%), Guodian Power (5.66%), State Power Investment (4.81%), Chuanwei Energy (4.29%), Yongtai Energy (4.2%), Huaneng International (4.15%), China General Nuclear Power (3.92%), and Zhejiang Energy Power (2.8%) [2] Group 2 - The China Securities Public Utilities Index consists entirely of public utility companies, with a sample adjustment occurring every six months [3] - The market share of the China Securities Public Utilities Index is 83.15% from the Shanghai Stock Exchange and 16.85% from the Shenzhen Stock Exchange [2] - Adjustments to the index sample occur on the next trading day following the second Friday of June and December each year, with weight factors generally remaining fixed until the next scheduled adjustment [3]

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。 海外監管公告 關於中期票據發行的公告 本公告乃根據香港聯合交易所有限公司證券上市規則（「上市規則」）第 13.10B條 而 作 出。 華能國際電力股份有限公司（「公 司」）2024年年度股東大會 於2025年6月24 日 通 過 決 議，同 意 公 司 自2024年年度股東大會批准時起至2025年年度股東 大 會 結 束 時 止，在 中 國 境 內 或 境 外 一 次 或 分 次 滾 動 發 行 本 金 餘 額 不 超 過 等 值 於 人民幣1,700億元的境內外債務融資工具（即在前述授權期限內的任 一 時 點，公 司 發 行 的 處 於 有效存續期內的境內外債務融資工具本金餘額 不超過1,700億元等值人民幣），包 括 但 不 限 於 境 內 市 場 的 公 司 債 券、企 業 債 券 和 銀 行 間 債 券 市 場 發 行 的 超 ...

华能国际电力股份有限公司 关于中期票据发行的公告 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个别及连带责任。 证券代码: 600011 证券简称: 华能国际 公告编号:2025-040 华能国际电力股份有限公司（"公司"）2024年年度股东大会于2025年6月24 日通过决议，同意公司自2024年年度股东大会批准时起至2025年年度股东大会结 束时止，在中国境内或境外一次或分次滚动发行本金余额不超过等值于1700亿元 人民币的境内外债务融资工具（即在前述授权期限内的任一时点，公司发行的处 于有效存续期内的境内外债务融资工具本金余额不超过1700亿元等值人民币）， 包括但不限于境内市场的公司债券、企业债券和银行间债券市场发行的超短期融 资券、短期融资券、中期票据等境内债务融资工具，以及境外市场的离岸人民币 债券、境外美元债券和其它外币债券等境外债务融资工具。 公司已于近日完成了华能国际电力股份有限公司2025年度第十二期中期票 据（"本期债券"）的发行。本期债券发行额为20亿元人民币，期限为五年，单位 面值为100元人民币，发行利率为 ...

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。 董事會會議召開日期 華 能 國 際 電 力 股 份 有 限 公 司 (" 本 公 司 ") 董 事 會 (" 董 事 會 ") 茲 通 告 謹 定 於 公 司 及 其 子 公 司 截 至 2025 年 6 月 30 日 止 之 六 個 月 的 中 期 業 績 公 告 及 其 他 事 項（如 適 用 )。 承董事會命 華能國際電力股份有限公司 黃朝全 公司秘書 於 本 公 告 日，本 公 司 董 事 為： 王 葵（執 行 董 事） 夏 清（獨 立 非 執 行 董 事） 黃 歷 新（執 行 董 事） 賀 強（獨 立 非 執 行 董 事） 杜 大 明（非 執 行 董 事） 張 麗 英（獨 立 非 執 行 董 事） 周 奕（非 執 行 董 事） 張 守 文（獨 立 非 執 行 董 事） 李 來 龍（非 執 行 董 事） 黨 英（獨 立 非 執 ...

Group 1 - Tiande Yu achieved a net profit of 1.52 billion yuan in the first half of 2025, a year-on-year increase of 50.89% [1] - Tiande Yu's operating income for the same period was 12.08 billion yuan, reflecting a growth of 43.35% year-on-year [1] - Fule New Materials plans to reduce its shareholding by up to 1.33%, amounting to 376.25 million shares, due to personal funding needs [1] - Jindi Co. signed an industrial project investment contract with a total investment of no less than 1.5 billion yuan [1] Group 2 - Tuo Xin Pharmaceutical intends to invest 10 million yuan in Jiangsu Jinsan Biotechnology, acquiring a 1.75% stake [1] - Pinming Technology expects a net profit of 28 million to 34 million yuan for the first half of 2025, a year-on-year increase of 231.79% to 302.89% [4] - Shuanglin Co. anticipates a net profit of 251 million to 310 million yuan, representing a growth of 1% to 25% year-on-year [7] Group 3 - Kangxino received approval for clinical trials of its trivalent poliovirus vaccine [8] - Bailian Co. signed a land storage compensation contract worth approximately 2 billion yuan [9] - Wukuang Development plans to issue short-term financing bonds and medium-term notes totaling up to 2 billion yuan each [10] Group 4 - Hengxin Life intends to invest 10 million yuan in a targeted equity investment [12] - Hengyin Technology expects a net profit of 13.5 million to 16.2 million yuan, marking a turnaround from losses [14] - *ST Jinglun anticipates a net loss of 19 million to 22 million yuan for the first half of 2025 [15] Group 5 - Baiyun Electric won a bid for a State Grid project worth 164 million yuan [16] - Zhejiang Energy completed a power generation of 788.48 billion kWh in the first half of 2025, a year-on-year increase of 4.48% [17] - Sheneng Co. reported a power generation of 259.51 billion kWh, a decrease of 1.7% year-on-year [19] Group 6 - Hengerd signed a strategic cooperation framework agreement with Tiangong International [21] - Baotai's application for the listing of Golimumab injection has been accepted by the FDA [23] - Yishitong received a government subsidy of 2 million yuan [24] Group 7 - Jinggong Steel signed a contract worth approximately 550 million yuan for the Jeddah Stadium project in Saudi Arabia [26] - Zhongwang Software received a government subsidy of 28 million yuan [27] - Rongxin Culture used idle funds of 100 million yuan to purchase financial products [29] Group 8 - Lingxiao Pump Industry invested 80 million yuan in financial products [31] - China Pacific Insurance reported a total original insurance premium income of 282 billion yuan from its subsidiaries [32] - Kema Technology expects a net profit of 165 million to 175 million yuan, a year-on-year increase of 18.59% to 25.77% [32] Group 9 - Qujiang Cultural Tourism anticipates a net loss of approximately 13 million to 16.9 million yuan [32] - Daoshi Technology expects a net profit of 220 million to 238 million yuan, a year-on-year increase of 98.77% to 115.03% [32] - Baicheng Medicine forecasts a net profit decline of 95.53% to 100% [33] Group 10 - Bertley plans to invest 198 million yuan to establish a partnership for investments in emerging fields [34] - China Merchants Highway announced the resignation of its chairman due to reaching retirement age [35] - Overseas Chinese Town A reported a 29% decrease in contract sales amount in June [36]

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。 華能國際電力股份有限公司("本公司")董事會("董事會")茲通告謹定於 2025年7月29日（星 期 二）召 開 本 公 司 董 事 會 會 議，以 審 議 及 批 准 刊 發 本 公司及其子公司截至2025年6月30日止之六個月的中期業績公告及其他 事 項（如 適 用)。 承董事會命 華能國際電力股份有限公司 黃朝全 董事會會議召開日期 王 葵 （執 行 董 事） 黃歷新 （執 行 董 事） 杜大明 （非 執 行 董 事） 周 奕 （非 執 行 董 事） 李來龍 （非 執 行 董 事） 李 進 （非 執 行 董 事） 曹 欣 （非 執 行 董 事） 高國勤 （非 執 行 董 事） 丁旭春 （非 執 行 董 事） 王劍鋒 （非 執 行 董 事） 夏 清 （獨 立 非 執 行 董 事） 賀 強 （獨 立 非 執 行 董 事） 張麗英 （獨 ...

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。 董事會會議召開日期 華能國際電力股份有限公司("本公司")董事會("董事會")茲通告謹定於 2025年7月29日（星 期 二）召 開 本 公 司 董 事 會 會 議，以 審 議 及 批 准 刊 發 本 公司及其子公司截至2025年6月30日止之六個月的中期業績公告及其他 事 項（如 適 用)。 承董事會命 華能國際電力股份有限公司 黃朝全 公司秘書 於 本 公 告 日，本 公 司 董 事 為： 王 葵 （執 行 董 事） 黃歷新 （執 行 董 事） 杜大明 （非 執 行 董 事） 周 奕 （非 執 行 董 事） 李來龍 （非 執 行 董 事） 李 進 （非 執 行 董 事） 曹 欣 （非 執 行 董 事） 高國勤 （非 執 行 董 事） 丁旭春 （非 執 行 董 事） 王劍鋒 （非 執 行 董 事） 夏 清 （獨 立 非 執 行 董 事 ...