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 ...

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。 2025年上半年上網電量完成情況公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 根 據 華 能 國 際 電 力 股 份 有 限 公 司（「公 司」）初 步 統 計，2025年 第 二 季 度， 公司中國境內各運行電廠按合併報表口徑完成上網電量990.49億千瓦時， 同比上升1.44%；2025年 上 半 年，公 司 中 國 境 內 各 運 行 電 廠 按 合 併 報 表 口 徑完成上網電量2,056.83億 千 瓦 時，同 比 下 降2.37%；2025年 上 半 年，公 司 中國境內各運行電廠平均上網結算電價為485.27元╱兆 瓦 時，同 比 下 降 2.69%。2025年 上 半 年，公 司 市 場 化 交 易 電 量 比 例84.64%，比 去 年 同 期 下 降2.27個 百 分 點。 公 司 電 ...

证券代码: 600011 证券简称: 华能国际 公告编号:2025-039 华能国际电力股份有限公司 2025 年上半年上网电量完成情况公告 上半年，公司持续推进绿色低碳转型，风电和光伏装机容量持续增长，促进 新能源电量同比增长；但受供需整体宽松、全国新能源装机增长等因素影响，公 司煤电机组电量同比降低，导致公司电量同比下降。 | 机组种类/ 地区 | 上网电量 | | | | | --- | --- | --- | --- | --- | | | 年 月 2025 4-6 | 同比 | 年 月 2025 1-6 | 同比 | | 煤机 | 754.26 | -3.46% | 1,583.63 | -7.06% | | 燃机 | 56.54 | 9.16% | 132.55 | 7.47% | | 风电 | 101.19 | 14.32% | 210.31 | 11.39% | | 光伏 | 73.71 | 48.06% | 122.43 | 49.33% | | 水电 | 2.87 | -9.37% | 3.89 | -22.13% | 2025 年上半年，公司境内各区域电厂上网电量（以亿千瓦时计）具体如下 ...

华能国际（600011）公告，2025年第二季度，公司中国境内各运行电厂完成上网电量990.49亿千瓦时， 同比上升1.44%；2025年上半年，完成上网电量2056.83亿千瓦时，同比下降2.37%。2025年上半年，平 均上网结算电价为485.27元/兆瓦时，同比下降2.69%。市场化交易电量比例为84.64%，比去年同期下降 2.27个百分点。 ...

Investment Rating - The industry investment rating is "Positive" and maintained [11] Core Insights - The increase in renewable energy consumption responsibility weight is expected to generate an additional demand of approximately 510 billion kilowatt-hours of new energy by 2025 [2][6][19] - The transition of the aluminum electrolysis industry from monitoring to assessment will significantly boost the demand for non-hydropower green certificates, estimated at around 150 million certificates [7][26] - The inclusion of four major energy-consuming industries (steel, cement, polysilicon, and data centers) into monitoring is projected to create a potential demand for approximately 800 million non-hydropower green certificates [8][29] Summary by Sections Renewable Energy Consumption Responsibility Weight - The responsibility weight for renewable energy consumption will significantly increase in 2025, with unfulfilled portions not carried over to the next year. The new policy mandates that the responsibility weight must be completed within the year [6][17] - The "Three North" regions have a higher responsibility weight, with provinces like Inner Mongolia, Gansu, Jilin, Heilongjiang, and Qinghai set at 30%, while regions like Shanghai and Guangdong remain below 15% [18] Electrolytic Aluminum Green Power Consumption - The green power consumption ratio for the electrolytic aluminum industry will shift from monitoring to assessment in 2025, leading to a significant increase in demand for non-hydropower green certificates [7][26] - The estimated demand for non-hydropower green certificates from the electrolytic aluminum sector is about 150 million certificates due to the new assessment requirements [26] Expansion of Monitoring to Other Industries - The addition of steel, cement, polysilicon, and data centers into the monitoring framework is expected to create a substantial potential demand for green certificates, estimated at around 800 million certificates [8][29] - The projected total demand from these sectors could reach approximately 980 billion kilowatt-hours of new energy, accounting for about 53% of the 2024 new energy volume [34] Supply and Demand Dynamics - The demand side is expected to expand significantly due to the assessment of the electrolytic aluminum industry and the inclusion of new energy-consuming sectors, while the supply side will see a reduction in the issuance of green certificates due to policy changes [8][34] - The overall market dynamics are anticipated to shift from a surplus supply to a more balanced state, providing long-term support for green certificate prices [8][34]

Investment Rating - The report maintains an "Overweight" rating for the industry [4] Core Viewpoints - The issuance of renewable energy power consumption responsibility weights for 2025 mandates green electricity consumption in five major industries, which is expected to alleviate renewable energy consumption issues [3][11] - The assessment scope has expanded to include steel, cement, polysilicon, and data centers, enhancing the focus on energy-intensive industries [3][12] - The provincial assessment targets for renewable energy consumption responsibility weights will range from 24.2% to 70% in 2025, with 19 provinces aiming for over 30% [3][15] Summary by Sections Industry Trends - The electricity and public utilities index rose by 1.60% during the week, outperforming the CSI 300 index by 0.78 percentage points [5][55] - The report highlights that over half of the listed companies in the electricity and public utilities sector experienced stock price increases [55] Key Industry Insights - The coal price has rebounded to 627 CNY/ton [13] - The inflow and outflow of water at the Three Gorges Dam decreased by 17.86% and 24.19% year-on-year, respectively [31] - The price of silicon materials remained stable, while mainstream silicon wafer prices decreased slightly [39] Investment Recommendations - Focus on the electricity sector due to the high temperatures across the country and the upcoming performance period [3] - Recommended stocks include Huaneng International, Jiantou Energy, Huadian International, and Qingda Environmental Protection, which are expected to have resilient quarterly earnings [3] - Emphasis on undervalued green electricity operators, particularly in Hong Kong and wind power sectors, such as Xintian Green Energy and Longyuan Power [3][8]

Summary of Key Points Core Viewpoint - Huaneng International's stock price has decreased by 5.14% this week, closing at 7.02 yuan, with a total market capitalization of 110.201 billion yuan, ranking 8th in the power sector and 130th in the A-share market [1]. Company Announcements - Huaneng International has successfully issued 30 billion yuan of ultra-short-term financing bonds with a maturity of 99 days and an interest rate of 1.42%. The funds raised will be used to supplement working capital, adjust debt structure, and repay bank loans and maturing bonds [1][4]. - The company's board of directors has appointed Mr. Wenming Gang as the new Chief Financial Officer. He has extensive experience in financial management and leadership, having previously served in significant positions within Huaneng Coal Industry Co., Ltd. [1][4].