本期债券发行工作已于2025年9月25日结束，品种一(债券简称：25HPI5YK，代码：243873)实际发行规 模15亿元，最终票面利率为2.33%，认购倍数为2.59;品种二取消发行。 华能国际（600011）电力股份(00902)发布公告，华能国际电力股份有限公司2025年面向专业投资者公 开发行科技创新可续期公司债券(第四期)(以下简称"本期债券")拟发行不超过15亿元(含15亿元)，本期债 券分为两个品种，品种一基础期限为5年，以每5个计息年度为一个周期;品种二基础期限为10年，以每 10个计息年度为一个周期。 ...

本期债券发行工作已于2025年9月25日结束，品种一(债券简称：25HPI5YK，代码：243873)实际发行规 模15亿元，最终票面利率为2.33%，认购倍数为2.59；品种二取消发行。 格隆汇9月25日丨华能国际电力股份(00902.HK)公告，华能国际电力股份有限公司2025年面向专业投资 者公开发行科技创新可续期公司债券(第四期)拟发行不超过15亿元(含15亿元)，本期债券分为两个品 种，品种一基础期限为5年，以每5个计息年度为一个周期；品种二基础期限为10年，以每10个计息年度 为一个周期。在约定的基础期限末及每个续期的周期末，发行人有权行使续期选择权，按约定的基础期 限延长1个周期，或选择在该周期末到期全额兑付本期债券。 ...

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 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。 承董事會命 華能國際電力股份有限公司 黃朝全 王 葵 （執 行 董 事） 劉安倉 （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） 中國‧北京 2025年9月26日 夏 清 （獨 立 非 執 行 董 事） 賀 強 （獨 立 非 執 行 董 事） 張麗英 （獨 立 非 執 行 董 事） 張守文 （獨 立 非 執 行 董 事） 黨 英 （獨 立 非 執 行 董 事） 证券代码: 600011 证券简称: 华能国际 公告编号:202 ...

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 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。 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） 劉安倉 （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） 中國‧北京 华能国际电力股份有限公司（以下简称"发行人"）面向专业投资者公开发 行面值不超过400亿元（含400亿元）的公司债券（以下简称"本次债券"）已经 上海证券交易所审核通过，并经中国证券监督管理委员会同意注册（证监许可 〔2025〕1 ...

Core Viewpoint - The article highlights the significant contributions of China Huaneng in promoting clean energy development in Xinjiang, showcasing its commitment to the "dual carbon" goals and the overall socio-economic development of the region [1][32]. Group 1: Clean Energy Development - China Huaneng has been actively involved in the construction of wind and solar energy projects in Xinjiang, including the establishment of the Baiyanghe Wind Farm, which has generated over 4.5 billion kilowatt-hours of electricity since its inception [3][4]. - The company is set to launch a 1 million kilowatt wind power project in the Turpan area by 2025, which will be the first of its kind in China with a wind resistance capability of 57 meters per second, providing 2.2 billion kilowatt-hours of clean energy annually [4][29]. - As of August 2025, China Huaneng has generated over 50.4 billion kilowatt-hours of green electricity in Xinjiang, significantly contributing to the region's energy security and the well-being of its residents [29]. Group 2: Technological Innovation - The company has implemented advanced technologies in digital operation and maintenance, enhancing the efficiency and safety of its energy projects. The utilization of big data and AI has improved the operational efficiency of wind and solar power plants, achieving utilization rates of 98.76% for wind and 99.94% for solar [12][13]. - Innovative solutions such as drone inspections and remote monitoring systems have been introduced to enhance maintenance efficiency and reduce operational risks [15][16]. Group 3: Socio-Economic Contributions - Since 2005, China Huaneng has invested over 2.81 billion yuan in various social projects in Aheqi County, focusing on education, healthcare, and infrastructure development [18][22]. - The company has built modern schools and healthcare facilities, significantly improving local access to education and medical services, thereby enhancing the quality of life for residents [22][24]. - The establishment of the Biedili Water Power Station has not only provided substantial tax revenue but has also stimulated local economic development, transforming the area into a model for rural revitalization [28][29].

Group 1: CCUS Project Overview - The world's largest coal-fired carbon capture demonstration project at Huaneng Gansu Zhengning Power Plant has successfully completed a 72-hour trial run and is now in commercial operation, marking a historic leap in CCUS technology from "ten-thousand-ton demonstration" to "million-ton industrial application" [1][3] - The project is a major national technology demonstration project and one of the first green low-carbon demonstration projects approved by the National Development and Reform Commission, achieving a CO2 capture rate of over 90% with a purity of over 99% [3][5] - The facility can capture 1.5 million tons of CO2 annually, equivalent to the carbon emissions of 600,000 cars in a year, significantly contributing to deep emission reductions in coal-fired power plants and supporting carbon neutrality goals [5][8] Group 2: Technological Innovations - The project has overcome multiple technical bottlenecks in carbon capture, compression, and storage, creating several "global firsts" and "domestic innovations," with 100% of the core equipment being domestically produced [3][5] - Key technological achievements include the world's first "dual-tower integrated" absorption tower and the first domestic eight-stage supercritical CO2 compressor, which set new benchmarks for the coal power industry [3][5] Group 3: Broader Implications - The captured CO2 can be utilized in various applications, including enhanced oil recovery, green fuel synthesis, food processing, and mineralized building materials, thus establishing a complete "capture-utilization-storage" industrial chain [3][5] - The project positions China's CCUS technology at a world-leading level and sets a new standard for low-carbon transformation in the coal power sector [3][5]

Core Viewpoint - The report from Dongfang Securities indicates that electricity consumption in August 2025 increased by 5.0% year-on-year, with expectations for sustained high growth in electricity demand driven by high-tech manufacturing as the base effect diminishes in the following months [1][2]. Electricity Consumption Analysis - In August 2025, electricity consumption by different sectors showed year-on-year growth rates of +9.7% for primary industry, +5.0% for secondary industry, +7.2% for tertiary industry, and +2.4% for residential use, reflecting a decline compared to July 2025 [2]. - The manufacturing sector's electricity consumption rose by 5.5% year-on-year, marking the highest monthly growth rate for 2025, with high-tech and equipment manufacturing growing by 9.1% [2]. Power Generation Insights - In August 2025, the electricity generation from large-scale power plants increased by 1.6% year-on-year, with a decline in growth rates for thermal, nuclear, and solar power, while wind power saw an acceleration in growth [3]. - Hydropower generation decreased by 10.1% year-on-year, attributed to weaker water inflow, but is expected to improve marginally in the last quarter of 2025 due to a low base effect [3]. Investment Recommendations - The public utility sector is viewed positively, with expectations for continued growth in the thermal power industry due to improved commercial models and rising capacity price compensation [4]. - Recommended stocks in the thermal power sector include Guodian Power (600795.SH), Huadian International (600027.SH), and Huaneng International (600011.SH) [4]. - For hydropower, companies with strong basin advantages such as Yangtze Power (600900.SH) and Sichuan Investment Energy (600674.SH) are suggested for investment [4]. - In the nuclear power sector, China General Nuclear Power (003816.SZ) is highlighted for its strong long-term growth potential [5]. - Wind and solar sectors are expected to have significant growth opportunities under carbon neutrality expectations, with a focus on companies with high wind power ratios like Longyuan Power (001289.SZ) [5].

Core Viewpoint - The world's largest coal-fired carbon capture demonstration project has officially commenced operations, marking a significant advancement in China's carbon capture, utilization, and storage (CCUS) technology [1] Group 1: Project Overview - The project, located at Huaneng Gansu Zhengning Power Plant, has completed a 72-hour trial run and is now operational, with an annual CO2 capture capacity of 1.5 million tons [1] - The technology and equipment used in the project have achieved 100% domestic production, showcasing China's capabilities in CCUS technology [1] Group 2: Technical Achievements - The project has successfully captured over 90% of CO2 from the flue gas of the power plant's Unit 1, with a purity level exceeding 99% [1] - It has overcome several technical challenges, including low-energy absorption solvents and large-scale geological safety storage, achieving multiple "global firsts" and "domestic innovations" [1] Group 3: Environmental Impact - The captured CO2 will be utilized for geological storage, enhanced oil recovery, green fuel synthesis, and mineralized building materials [1] - The project supports large-scale, industrialized, and deep emission reductions in coal-fired power generation, contributing to China's dual carbon goals [1] Group 4: Operational Flexibility - The carbon capture demonstration project features an auxiliary peak-shaving capability, allowing for dynamic adjustments to the carbon capture system load [1] - This flexibility ensures stable and secure electricity supply while facilitating the low-carbon transition of coal power [1]

项目在碳捕集、压缩、封存等关键环节突破多项技术瓶颈，创造多项"全球首次"与"国内首创"，且核心 装备100%国产化。其中，全球首创"二塔合一"复合式吸收塔、国内首台八级超临界二氧化碳压缩机、 国内规模最大的深部咸水层多层封存体系等技术成果，不仅填补了行业空白，更将我国CCUS技术推向 世界领先水平，为煤电行业低碳转型树立新标杆。 华能正宁电厂厂长张延伟：作为全球最大的煤电碳捕集示范工程，我们这个项目二氧化碳捕集率超过 90%，每年可捕集二氧化碳150万吨，相当于处理了60万辆汽车一年的碳排放量，可助力燃煤电厂实现 大规模工业化深度减排，推动煤电绿色清洁发展，助推碳中和目标实现。 今天（9月25日），全球规模最大的煤电碳捕集示范工程在华能甘肃正宁电厂圆满完成72小时试运行， 正式投入商业运营。标志着我国CCUS也就是碳捕集、利用和封存技术实现从"万吨级示范"到"百万吨级 工业化应用"的历史性飞跃，为全球煤电绿色低碳转型提供"中国方案"，将有力助推"双碳"目标落地。 总台央视记者古峻岭：这座27层楼高的巨型装置，就是捕捉二氧化碳的关键设施——吸收塔。发电机组 排放的燃煤烟气里的二氧化碳，就是在这里被捕捉收集，它的 ...

Core Viewpoint - The world's largest coal-fired carbon capture demonstration project has officially commenced operations, marking a significant advancement in China's carbon capture, utilization, and storage (CCUS) technology, contributing to the achievement of carbon neutrality goals [1][2]. Group 1: Project Overview - The project, located at Huaneng Gansu Zhengning Power Plant, has completed a 72-hour trial run and is now operational, with an annual carbon dioxide capture capacity of 1.5 million tons [1]. - The carbon capture rate exceeds 90%, and the purity of captured carbon dioxide is over 99% [1]. - The captured carbon dioxide will be utilized for geological storage, enhanced oil recovery, green fuel synthesis, and mineralized building materials [1]. Group 2: Technological Achievements - The project has successfully overcome key technical challenges in carbon capture, compression, and storage, achieving several "global firsts" and "domestic innovations" [1]. - It has realized 100% domestic production of technology and equipment, facilitating the transition from technological breakthroughs to practical applications [1]. Group 3: Operational Capabilities - The carbon capture demonstration project features an auxiliary peak-shaving capability, allowing for dynamic adjustment of the carbon capture system load [2]. - This flexibility ensures that coal-fired power units can achieve large-scale carbon capture while maintaining stable and secure electricity supply, providing a viable path for the coordinated development of low-carbon coal power and energy security [2].