本期债券的募集资金扣除相关发行费用后，拟将用于生产性支出，包括偿还有息债务、补充流动资金、 项目投资及运营等符合法律法规要求的用途。 华能国际（600011）电力股份(00902)公布，公司拟于2025年9月24日(T日)至2025年9月25日(T+1日)发行 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)，本期债券发行规模不超过人民币15 亿元(含15亿元)。 本期债券品种一票面利率询价区间为1.70%-2.70%，品种二票面利率询价区间为1.90%-2.90%。品种一简 称为"25HPI5YK"，债券代码为"243873.SH";品种二简称为"25HPI6YK"，债券代码为"243874.SH"。 ...

本期债券的募集资金扣除相关发行费用后，拟将用于生产性支出，包括偿还有息债务、补充流动资金、 项目投资及运营等符合法律法规要求的用途。 本期债券品种一票面利率询价区间为 1.70%-2.70%，品种二票面利率询价区间为 1.90%-2.90%。品种一 简称为"25HPI5YK"，债券代码为"243873.SH";品种二简称为"25HPI6YK"，债券代码为"243874.SH"。 智通财经APP讯，华能国际电力股份(00902)公布，公司拟于2025 年 9 月 24 日(T 日)至 2025 年 9 月 25 日(T+1 日)发行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)，本期债券发行规模 不超过人民币 15 亿元(含 15 亿元)。 ...

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 承董事會命 華能國際電力股份有限公司 黃朝全 公司秘書 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。 於 本 公 告 日，本 公 司 董 事 為： 王 葵 （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22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） 㜳ള䱻⭫࣑㛗Գᴿ䲆ޢਮ ᒪ䶘 ੇщѐ ...

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） 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22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） | 注册金额 | 不超过人民币 40 ...

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） 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22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） 发行人及董事会全体成员保证公告内容的 ...

Investment Rating - The report maintains a positive outlook on the power and gas sectors, indicating a favorable investment environment for these industries [4]. Core Insights - In August, the average daily power generation exceeded 30 billion kilowatt-hours for the first time, with total industrial power generation reaching 936.3 billion kilowatt-hours, a year-on-year increase of 1.6% [9][57]. - The report highlights the continued growth of thermal power and the significant contribution of renewable energy sources, particularly wind and solar power, to the overall power generation increase [10][11]. - Global gas prices are experiencing narrow fluctuations, with a stable supply-demand balance in the market, particularly in the U.S. and Europe [20][29]. Summary by Sections 1. Power Generation - In August, the total power generation was 936.3 billion kilowatt-hours, with a daily average of 30.2 billion kilowatt-hours, marking a 1.6% increase year-on-year [9][57]. - The breakdown of power generation types shows thermal power at 6,274 billion kilowatt-hours (up 1.7%), hydropower at 1,479 billion kilowatt-hours (down 10.1%), nuclear power at 645 billion kilowatt-hours (up 5.9%), wind power at 738 billion kilowatt-hours (up 20.2%), and solar power at 538 billion kilowatt-hours (up 15.9%) [11][58]. - The report emphasizes the strong growth of renewable energy, with wind and solar power showing significant year-on-year increases of 20.2% and 15.9%, respectively [10][11]. 2. Natural Gas - As of September 19, the Henry Hub spot price was $2.89/mmBtu, reflecting a weekly decrease of 1.80%, while the TTF spot price in Europe remained stable at €32.00/MWh [20][21]. - The report notes that U.S. natural gas production remains high, contributing to a stable supply-demand balance and low price fluctuations [23][29]. - The LNG ex-factory price in China was 4,019 yuan/ton, with a weekly decrease of 0.84%, indicating a softening market due to weak domestic demand [41][44]. 3. Investment Recommendations - For hydropower, the report recommends companies like Guotou Power, Chuan Investment Energy, and Yangtze Power due to stable growth and financial benefits from interest rate cuts [18]. - In the renewable energy sector, companies such as Xintian Green Energy and Funi Co. are highlighted for their stable returns and high profitability [18]. - The report suggests focusing on integrated natural gas traders like New Hope Energy and Shenzhen Gas, as well as city gas companies benefiting from cost reductions [44].

Core Viewpoint - Huaneng International's stock has experienced fluctuations, with a recent decline of 2.04% and a year-to-date increase of 11.08%, indicating volatility in the market [1]. Financial Performance - For the first half of 2025, Huaneng International reported operating revenue of 1120.32 billion, a year-on-year decrease of 5.70%, while net profit attributable to shareholders increased by 24.26% to 92.62 billion [2]. - Cumulative cash dividends since the company's A-share listing amount to 678.62 billion, with 73.78 billion distributed over the last three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Huaneng International decreased by 11.52% to 96,500, with an average of 0 circulating shares per shareholder [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 41.30 million shares to 229 million shares [3]. Market Activity - On September 22, Huaneng International's stock traded at 7.22 yuan per share, with a total market capitalization of 1133.40 billion [1]. - The stock has seen a trading volume of 1.46 billion, with a turnover rate of 0.18% [1].

Core Viewpoint - The Huaneng Longdong Energy Base's new energy project, including the F1 energy storage project, has been fully completed and is ready for power reception, contributing significantly to renewable energy consumption and grid stability [2][5]. Group 1: Project Overview - The F1 energy storage project has an investment of 1 billion yuan, with a capacity of 300,000 kW and 1.2 million kWh, expected to consume 420 million kWh of renewable energy annually, sufficient to meet the daily electricity needs of 240,000 households [2]. - The project utilizes Huaneng's independently developed single-stage distributed energy storage technology, which enhances battery compatibility and safety, addressing issues related to inter-cluster circulation and energy decay [2]. Group 2: Technical and Operational Details - The F1 project consists of four main components: energy storage, phase adjustment devices, a booster station, and wind-solar projects, with the energy storage component fully installed and awaiting grid connection testing [2]. - The "Long Electric into Lu" project is a significant initiative under China's 14th Five-Year Plan, representing the country's first integrated high-voltage project combining wind, solar, thermal, and storage [5]. Group 3: Industry Context - The total capacity of the new energy storage project at Huaneng Longdong Energy Base is 600 MW and 2,400 MWh, with two sites each hosting a 300 MW and 1,200 MWh electrochemical energy storage station [5].

Group 1 - The core viewpoint of the article highlights the growth in China's electricity generation, with a reported production of 737.8 billion kilowatt-hours in May 2025, reflecting a year-on-year increase of 0.5% [1] - Cumulative electricity generation from January to May 2025 reached 3,726.6 billion kilowatt-hours, showing a cumulative growth of 0.3% [1] - The article references a report by Zhiyan Consulting, which focuses on the investment potential and development trends in the Chinese electricity industry from 2025 to 2031 [1] Group 2 - Listed companies in the electricity sector include Huaneng International (600011), Datang Power (601991), Guodian Power (600795), Huadian International (600027), and others [1] - The data presented is sourced from the National Bureau of Statistics and organized by Zhiyan Consulting, indicating a strong foundation for industry analysis [1]

Core Viewpoint - CATL has signed two major strategic cooperation agreements with Li Auto and China Huaneng, focusing on battery technology innovation and expanding their business in both domestic and international markets [2][5]. Group 1: Cooperation with Li Auto - On September 18, Li Auto and CATL signed a five-year comprehensive strategic cooperation agreement, focusing on battery safety and ultra-fast charging technology [2]. - CATL will provide high-performance battery systems for all Li Auto products, including ternary lithium batteries, M3P batteries, lithium iron phosphate batteries, and sodium-ion batteries [2]. - The sodium-ion battery developed by CATL has an energy density of 175Wh/kg and can achieve over 500 kilometers of pure electric range, addressing over 40% of the domestic passenger car market demand [2]. - As of August 31, Li Auto has delivered a total of 1.3971 million vehicles, with over 1 million units equipped with CATL batteries, and has not experienced any thermal runaway incidents due to battery issues [3]. Group 2: Cooperation with China Huaneng - On September 17, CATL signed a strategic cooperation agreement with China Huaneng, the second-largest power generation group globally [5]. - The cooperation will leverage both parties' strengths in product manufacturing, renewable energy, energy storage construction and operation, scientific research innovation, and nuclear power industry [6]. - The aim is to enhance collaboration in response to national strategic needs, focusing on joint innovation and technology standards [7]. Group 3: Overview of Recent Collaborations - Since 2025, CATL has deepened cooperation with 10 leading automotive companies, covering battery research and development, battery swapping, new material applications, and overseas market expansion [3]. - The table summarizes recent partnerships, including collaborations with Geely, Dongfeng Nissan, Honda China, Changan Mazda, NIO, Volkswagen China, BAIC Foton, SAIC Group, and FAW Liberation, focusing on various aspects of battery technology and market development [4].