证券简称：上海电力 证券代码：600021 编号：临 2025-117 上海电力股份有限公司 关于选举职工董事的公告 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。 上海电力股份有限公司（以下简称"公司"）近期召开了公司四届四次职代会联 席会，会议选举梁宝生先生为公司第九届董事会职工董事。 梁宝生先生，男，55岁，硕士学位，高级政工师。现任公司职工董事、党委副书 记、工会主席。曾任国家电投集团河南电力有限公司纪委书记、工会主席，国家电投 集团内蒙古能源有限公司、中电投蒙东能源集团有限责任公司、内蒙古电投能源股份 有限公司（原露天煤业）党委委员、纪委书记、工会主席，国家电力投资集团有限公 司党建部（党组办公室）副主任，山东电力工程咨询院有限公司党委副书记、工会主 席。 梁宝生先生当选职工董事后，公司第九届董事会中兼任高级管理人员职务的董事 以及由职工代表担任的董事，总计人数未超过公司董事总数的二分之一，符合相关法 律法规的要求。梁宝生先生的任职资格和条件符合《公司法》《公司章程》等相关规 定。 特此公告。 上海电力股份有限公司董 ...

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 财经频道更多独家策划、专家专栏，免费查阅>> 国家知识产权局信息显示，国网上海市电力公司、上海电力大学取得一项名为"一种适应电动汽车充电 的配网末端电压调节系统"的专利，授权公告号CN118763676B，申请日期为2024年6月。 ...

Group 1 - As of December 4, a total of 621 stocks in the Shanghai and Shenzhen markets have experienced a net outflow of main funds for five consecutive days or more [1][2] - WanTai Biologics has the longest streak of net outflow, with 27 consecutive days, followed by Zhongyou Capital with 26 days [1] - BlueFocus Media has the largest total net outflow amount, with 4.874 billion yuan over eight days, followed by Shanghai Electric with 3.172 billion yuan over 11 days [1] Group 2 - The stock with the highest percentage of net outflow relative to trading volume is Guanghui Energy, which has seen a 1.19% decline over the past seven days [1] - The table lists various companies with their respective net outflow days, amounts, percentages, and cumulative price changes, indicating a trend of declining stock prices among those with significant net outflows [1][2][3] - Notable companies with substantial net outflows include Longi Green Energy, Zhongyou Capital, and Guanghui Energy, all showing negative cumulative price changes [1][2]

证券简称：上海电力 证券代码：600021 编号：临2025-115 上海电力股份有限公司2025年度 第十八期超短期融资券发行结果公告 ■ 本期超短期融资券通过簿记建档集中配售的方式在全国银行间债券市场公开发行，募集资金主要用于偿 还到期债券。 特此公告。 上海电力股份有限公司董事会 二〇二五年十二月四日 上海电力股份有限公司于2025年12月2日发行了2025年度第十八期超短期融资券，现将发行结果公告如 下： 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。 ...

| 债务融资工 | 上海电力股份有限公司2025年 | 债务融资工具 | 25沪电力SCP018 | | --- | --- | --- | --- | | 具名称 | 度第十八期超短期融资券 | 简称 | | | 代码 | 012582936 | 债务融资工具 期限 | 65日 | | 计息方式 | 付息固定利率 | 发行总额 | 21亿元/人民币 | | 起息日 | 2025年12月3日 | 兑付日 | 2026年2月6日 | | 发行价格 | 100元/百元 | 票面利率 （年化） | 1.64% | | 承销商 | 上海浦东发展银行股份有限公司、杭州银行股份有限公司 | | | 本期超短期融资券通过簿记建档集中配售的方式在全国银行间债券市场公开发 行，募集资金主要用于偿还到期债券。 证券简称：上海电力 证券代码：600021 编号：临 2025-115 上海电力股份有限公司 2025 年度 第十八期超短期融资券发行结果公告 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。 上海电力股份有限公司于2025年12月2日发行了 ...

Core Insights - A total of 355 stocks in the Shanghai and Shenzhen markets have experienced net outflows of main funds for five consecutive days or more as of December 1 [1][2] - WanTai Biologics has the longest streak of net outflows, with 24 consecutive days, followed by Zhongyou Capital with 23 days [1] - Dongfang Caifu has the highest total net outflow amount, with 5.21 billion yuan over 12 days, while BlueFocus Media follows with 3.13 billion yuan over 5 days [1] Summary by Category Stocks with Longest Net Outflow Duration - WanTai Biologics: 24 days of net outflow [1] - Zhongyou Capital: 23 days of net outflow [1] Stocks with Highest Total Net Outflow Amount - Dongfang Caifu: 5.21 billion yuan over 12 days [1] - BlueFocus Media: 3.13 billion yuan over 5 days [1] Stocks with Highest Net Outflow Proportion - *ST Dongyi: 23.45% over 9 days, with a cumulative decline of 30.12% [2] - Shanghai Electric: 14.10% over 8 days, with a cumulative decline of 14.49% [1] Other Notable Stocks - Longi Green Energy: 2.45 billion yuan over 8 days, with a cumulative decline of 11.56% [1] - Aier Eye Hospital: 1.32 billion yuan over 15 days, with a cumulative decline of 7.22% [1]

Core Viewpoint - The data indicates significant capital outflows from the top 20 stocks as of December 1, with notable amounts withdrawn from various companies [1] Group 1: Major Capital Outflows - Industrial Fulian experienced the highest outflow at -9.20 billion yuan [1] - Sunshine Power followed with an outflow of -7.95 billion yuan [1] - Shenghong Technology saw a capital outflow of -7.62 billion yuan [1] Group 2: Additional Notable Outflows - Qianzhao Optoelectronics had an outflow of -6.50 billion yuan [1] - Changxin Bochuang recorded -4.69 billion yuan in outflows [1] - Shannon Chip Creation experienced -4.47 billion yuan in capital outflows [1] Group 3: Other Companies with Significant Outflows - BlueFocus Media had an outflow of -3.86 billion yuan [1] - Dongfang Fortune saw -3.76 billion yuan in outflows [1] - Shanghai Electric experienced a capital outflow of -3.09 billion yuan [1] Group 4: Remaining Companies in the Top 20 - Dongxin Co. had an outflow of -2.79 billion yuan [1] - Zhongwei Company saw -2.76 billion yuan in outflows [1] - 360 Security Technology experienced a capital outflow of -2.65 billion yuan [1] - Other companies with notable outflows include Dongtian Micro (-2.40 billion yuan), Aerospace Power (-2.34 billion yuan), and Huagong Technology (-2.30 billion yuan) [1]

Investment Rating - The report maintains an "Outperform" rating for the public utility and environmental sectors [1][6][8]. Core Views - The report highlights a 7.9% year-on-year increase in national electricity market trading volume from January to October 2025, with significant growth in green electricity trading [2][15]. - The controlled nuclear fusion industry is experiencing accelerated capital expenditure, with a notable increase in project bidding activity [3][17]. - The report emphasizes the importance of policies supporting renewable energy development, predicting stable profitability for new energy generation [4][22]. Summary by Sections Market Review - The Shanghai Composite Index rose by 1.64%, while the public utility and environmental indices increased by 0.89% and 1.59%, respectively [1][14]. - Within the electricity sector, thermal power increased by 1.60%, while hydropower and new energy generation saw smaller gains [1][24]. Important Events - In October 2025, the national electricity market trading volume reached 563.8 billion kWh, marking a 15.6% increase year-on-year [2][15]. - The cumulative trading volume for the first ten months of 2025 was 5,492 billion kWh, accounting for 63.7% of total electricity consumption, up 1.5 percentage points from the previous year [2][15]. Specialized Research - The report details 35 public bidding projects in the controlled nuclear fusion sector from October to November 2025, with a total estimated contract value of 2.6 billion yuan [3][17]. - The bidding activity has significantly accelerated compared to previous months, indicating a growing interest and investment in this area [3][17]. Investment Strategy - Recommendations include major thermal power companies like Huadian International and Shanghai Electric, as well as leading new energy firms such as Longyuan Power and Three Gorges Energy [4][22]. - The report also suggests focusing on water and waste incineration sectors, which are entering a mature phase with improved cash flow [4][22]. Key Company Earnings Forecasts - The report provides earnings forecasts and investment ratings for various companies, all maintaining an "Outperform" rating, including Huadian International, Longyuan Power, and China Nuclear Power [8][22].

Group 1 - The company will hold its fourth extraordinary general meeting of shareholders on December 16, 2025, at 14:00 in Shanghai [1][3] - Voting will be conducted through a combination of on-site and online methods, with specific time slots for each [1][5] - Shareholders must register to attend the meeting, with registration open from December 11, 2025 [11][12] Group 2 - The company plans to conduct a perpetual trust financing of up to 4.2 billion yuan, which requires shareholder approval [22][24] - The financing will be directed towards domestic thermal power and renewable energy projects [24][36] - The transaction is classified as a related party transaction due to the involvement of the controlling shareholder [22][25] Group 3 - The company intends to reappoint Zhonghui Certified Public Accountants as its auditing firm for the year 2025 [39][40] - Zhonghui has a strong track record, with 694 registered accountants and a revenue of 1.014 billion yuan in 2024 [41][42] - The reappointment process has been approved by the company's audit and risk committee and requires shareholder approval [47][48] Group 4 - The company has approved a proposal to consolidate its subsidiary Xinjiang Shenyuan Energy Co., Ltd. under Xinjiang Energy Chemical Co., Ltd. [75][76] - This consolidation aims to leverage local advantages and optimize resource allocation [82][83] - The transaction has been reviewed and approved by the board, ensuring compliance with regulations [83][84]

Investment Rating - The report maintains an "Outperform" rating for the public utility and environmental protection sectors [5][7]. Core Views - The report highlights that coal and electricity prices are declining simultaneously, which is expected to maintain reasonable profitability for thermal power [22]. - Continuous government policies supporting renewable energy development are anticipated to lead to gradually stable profitability in renewable energy generation [22]. - The report emphasizes the importance of the new retail pricing mechanism in Sichuan's electricity market, which is expected to enhance the integration of commercial storage resources by virtual power plants [18][20]. Summary by Sections Market Review - The Shanghai Composite Index fell by 3.77%, while the public utility index dropped by 4.33% and the environmental index decreased by 6.02% [15][25]. - Within the electricity sector, thermal power declined by 4.68%, hydropower by 1.44%, and renewable energy generation by 5.67% [15][26]. Important Events - The Ministry of Finance has allocated the first batch of ecological and environmental protection funds for 2026, totaling 40 billion yuan for integrated protection projects, 153 billion yuan for ecological restoration of abandoned mines, and 136 billion yuan for marine ecological protection projects [16][17]. Investment Strategy - Recommendations include major thermal power companies like Huadian International and Shanghai Electric, as well as leading renewable energy firms such as Longyuan Power and Three Gorges Energy [3][22]. - The report suggests focusing on water and waste incineration sectors, which are entering maturity with improved free cash flow, and highlights investment opportunities in companies like China Everbright Environment and Zhongshan Public Utilities [23]. - The report also points out the potential in the domestic waste oil recycling industry due to the EU's SAF blending policy, recommending companies like Shangaohuaneng [23]. Key Company Earnings Forecasts - The report provides earnings forecasts for various companies, indicating a positive outlook for those in the public utility and environmental sectors [8].