金融界消息 截至2025年8月1日收盘，上海电力（600021）报收于9.69元，上涨2.32%，换手率3.62%， 成交量102.06万手，成交金额9.90亿元。 天眼查商业履历信息显示，上海电力股份有限公司，成立于1998年，位于上海市，是一家以从事电力、 热力生产和供应业为主的企业。企业注册资本281674.3645万人民币，实缴资本264701万人民币。公司 法定代表人为林华。 通过天眼查大数据分析，上海电力股份有限公司共对外投资了84家企业，参与招投标项目4239次，专利 信息58条，此外企业还拥有行政许可69个。 来源：金融界 资金流向方面，今日主力资金净流入4022.90万元，占比成交额4.06%。其中，超大单净流入2598.03万 元、占成交额2.63%，大单净流入1424.87万元、占成交额1.44%，中单净流出流出3537.18万元、占成交 额3.57%，小单净流出485.72万元、占成交额0.49%。 上海电力最新一期业绩显示，截至2025一季报，公司营业总收入104.43亿元、同比减少1.56%，归属净 利润8.29亿元，同比增长30.78%，扣非净利润8.08亿元，同比增长27.04 ...

Core Viewpoint - The A-share electricity sector experienced a short-term surge, with Huaneng International hitting the daily limit, followed by increases in Guodian Power, Longyuan Power, Shanghai Electric, Chuanwei Energy, *ST Baoshi, and Guotou Power [1] Company Summary - Huaneng International reached the daily limit in stock price increase, indicating strong market interest and potential investor confidence [1] - Guodian Power, Longyuan Power, Shanghai Electric, Chuanwei Energy, *ST Baoshi, and Guotou Power also saw significant stock price increases, reflecting a broader positive trend in the electricity sector [1]

Investment Rating - The report maintains an "Outperform" rating for the public utility and environmental sectors [1][6][10]. Core Views - The completion of the preliminary design for China's first 1 million kilowatt fourth-generation commercial fast reactor marks a significant advancement in the country's nuclear energy strategy [2][16]. - The public utility sector saw a 7.64% increase in the total market value of fund holdings, reaching 63.28 billion yuan in Q2 2025, with a focus on hydropower companies [3][17]. - The report emphasizes the importance of coal and electricity prices moving in tandem, which is expected to sustain reasonable profitability for thermal power companies [4][25]. Summary by Sections Market Review - The Shanghai Composite Index rose by 1.69%, while the public utility index fell by 0.27% and the environmental index increased by 1.66% [1][15]. - Within the power sector, thermal power decreased by 0.29%, hydropower by 1.31%, while new energy generation rose by 1.24% [1][28]. Important Events - The preliminary design of the CFR1000 fast reactor has been completed, which is crucial for energy security and sustainable development in nuclear energy [2][16]. - In August 2025, the electricity trading price in Jiangsu was 393.8 yuan per megawatt-hour, with a total transaction volume of 12.353 billion kilowatt-hours [2][16]. 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][25]. - The report suggests focusing on high-dividend hydropower stocks like Yangtze Power for their defensive attributes [4][25]. Fund Holdings - In Q2 2025, the total market value of fund holdings in the public utility sector was 63.28 billion yuan, with a notable increase in hydropower and gas sectors, while thermal power saw a reduction [3][19]. - The environmental sector's fund holdings totaled 7.352 billion yuan, showing a slight decrease from the previous quarter [21][24]. Key Company Predictions and Ratings - Companies such as Huadian International, Longyuan Power, and China Nuclear Power are highlighted with an "Outperform" rating, indicating strong future performance expectations [10][25]. - The report identifies significant investment opportunities in the environmental sector, particularly in waste management and renewable energy technologies [26][24].

Investment Rating - The report maintains an "Outperform" rating for the public utility and environmental sectors [1][10]. Core Views - The completion of the preliminary design for China's first 1 million kilowatt fourth-generation commercial fast reactor marks a significant advancement in the country's nuclear energy strategy [2][16]. - The public utility sector saw a 7.64% increase in the total market value of fund holdings, reaching 63.28 billion yuan in Q2 2025, with a focus on hydropower companies [3][17]. - The report emphasizes the importance of coal and electricity prices moving downward, which is expected to maintain reasonable profitability for thermal power companies [4][25]. Summary by Sections Market Review - The Shanghai Composite Index rose by 1.69%, while the public utility index fell by 0.27% and the environmental index increased by 1.66% [1][15]. - Within the power sector, thermal power decreased by 0.29%, hydropower by 1.31%, while new energy generation rose by 1.24% [1][28]. Important Events - The preliminary design of the CFR1000 fast reactor has been completed, which is crucial for energy security and sustainable development in China [2][16]. - In August 2025, the electricity trading price in Jiangsu was 393.8 yuan per megawatt-hour, with a total transaction volume of 12.353 billion kilowatt-hours [2][16]. 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][25]. - The report suggests focusing on water and waste incineration sectors, which are entering a mature phase, and highlights investment opportunities in companies like China Everbright Environment and Zhongshan Public Utilities [4][26]. Fund Holdings - In Q2 2025, the total market value of fund holdings in the public utility sector was 63.28 billion yuan, with a notable increase in hydropower and gas sectors, while thermal power saw a decrease [3][19]. - The environmental sector's fund holdings totaled 7.352 billion yuan, showing a slight decrease from the previous quarter [21][23]. Key Company Predictions and Ratings - Huadian International, Longyuan Power, and China Nuclear Power are among the recommended companies with an "Outperform" rating [10][25]. - The report highlights the strong growth potential in the domestic waste oil recycling industry, recommending companies like Shanggou Environmental [4][26].

Group 1 - The National Taxation Administration will introduce tax reform and development during the "14th Five-Year Plan" period in a press conference [1] - The Ministry of Transport will hold a press conference to discuss the protection of legal rights for truck drivers [2] - The National Health Commission will promote the Sanming medical reform experience and deepen public hospital reform in a press conference [3] Group 2 - A total of 350.8 billion yuan worth of restricted shares will be unlocked today, with 21 companies involved and a total of 1.417 billion shares released [4] - Nine companies have over 10 million shares unlocked, with Copper Crown Copper Foil, Shanghai Electric, and Luguan Technology leading in unlock volume [4] - The unlocking value for Copper Crown Copper Foil, Luguan Technology, and Yidong Electronics is 125.4 billion yuan, 85.29 billion yuan, and 33.96 billion yuan respectively [4] - Eight companies have an unlocking ratio exceeding 10%, with Copper Crown Copper Foil, Jun Cheng Technology, and Yidong Electronics having the highest ratios of 72.38%, 71.28%, and 60.55% respectively [4] Group 3 - 170.7 billion yuan of 7-day reverse repos will mature today, with an operation rate of 1.40% [5]

Group 1 - The US and EU have reached a new trade agreement imposing a 15% tariff on EU goods exported to the US, with key areas such as steel, aluminum, chips, and spirits still pending agreement [2] - The Chinese government has proposed the establishment of a World Artificial Intelligence Cooperation Organization, with the headquarters tentatively located in Shanghai, aiming to promote global governance and bridge the digital divide [13] - A new seed fund for artificial intelligence in Pudong has been launched, with a total scale of 2 billion yuan, focusing on seed-stage investments in innovative talent and cutting-edge technology [14] Group 2 - The Chinese Capital Market Society has been established to enhance research capabilities in the capital market, focusing on national strategies and regulatory issues [8] - The State Council's Food Safety Office has intensified regulatory efforts on food safety, particularly for infant food and disaster relief supplies, to ensure public health [7] - The Ministry of Agriculture and Rural Affairs, along with nine other departments, has issued a plan to promote agricultural product consumption, emphasizing quality supply and e-commerce advantages [9][10] Group 3 - The charging treasure industry in Shenzhen has responded to a self-discipline initiative to combat vicious competition and reject low-quality battery procurement, with increased government oversight expected [11] - In the stock market, over 10 billion yuan worth of restricted shares will be unlocked this week, with a peak on July 28, involving 54 companies and a total of 3.385 billion shares [24] - Three new stocks are set to be issued this week, including Tianfu Long on the Shanghai main board, Youli Intelligent on the Beijing Stock Exchange, and Guangdong Jianke on the ChiNext board [28]

Group 1: M&A Activity Overview - From July 14 to July 20, there were 77 M&A events involving listed companies, with 27 classified as significant M&A transactions[9] - Out of the total M&A events, 12 were completed, including 1 significant M&A transaction involving Baota Industrial[9] - There were 3 failed M&A attempts by listed companies, specifically by Lixing Co., Hongming Co., and Zhongji Health[15] Group 2: Policy Updates - On July 18, Tianjin's financial authorities released measures to support M&A, focusing on 12 key industrial chains and establishing a resource pool for quality M&A targets[7] - The Shanghai G60 Science and Technology Innovation Group held a summit on July 16 to discuss M&A and overseas expansion in the context of innovation and industry leadership[7] Group 3: Market Performance - During the week of July 14 to July 20, the restructuring index outperformed the Wind All A index by 0.27%[19] - Over a mid-term view, the restructuring index's rolling 20-day return shifted from negative to positive compared to the Wind All A index[19] Group 4: Control Changes - Two listed companies reported changes in actual control during this period, with Shenjian Co. and Hualan Group undergoing ownership transitions[17]

Core Viewpoint - Shanghai Electric Power Co., Ltd. is set to list 199,579,448 shares from a non-public offering, which will become tradable on July 28, 2025, representing 7.09% of the company's total share capital [1][3]. Summary by Sections Non-Public Offering Details - The non-public offering was approved by the China Securities Regulatory Commission, allowing the issuance of up to 199,579,449 new shares [1]. - The shares were registered and custodized on July 27, 2022, with a lock-up period of 36 months for the subscribers [2]. Share Capital Changes - Since the formation of the restricted shares, there have been no changes in the company's share capital due to actions like rights issues or capital increases [2]. Lock-Up Commitments - The controlling shareholder, State Power Investment Corporation, has committed not to transfer or dispose of the shares acquired in the offering for 36 months following the issuance [2][3]. Compliance and Verification - The underwriter, CITIC Securities Co., Ltd., confirmed that the listing of the restricted shares complies with relevant laws and regulations, and that the controlling shareholder has adhered to the lock-up commitments [3]. Listing Details - The total number of restricted shares to be listed is 199,579,448, which will be fully tradable after the lock-up period ends [4]. - The total share capital of the company post-listing will remain at 2,816,743,645 shares, with no changes in the overall structure [5].

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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为非公开发行股份；股票认购方式为网下，上市股数为 199,579,448股。 本次股票上市流通总数为199,579,448股。 证券代码：600021 证券简称：上海电力 公告编号：2025-069 上海电力股份有限公司 非公开发行限售股上市流通公告 三、本次限售股上市流通的有关承诺 本次股票上市流通日期为2025 年 7 月 28 日。 一、本次限售股上市类型 上海电力股份有限公司（以下简称"公司"或"上海电力"）本次限售股上市 类型为非公开发行的有限售条件流通股。 （一）非公开发行核准情况 2022 年 5 月 30 日，中国证券监督管理委员会出具的《关于核准上海电力股 份有限公司非公开发行股票的批复》（证监许可[2022]1123 号），核准公司非公开 发行不超过 199,579,449 股新股，发生转增股本等情形导致总股本发生变化的， 可相应调整本次发行数量、该批复自核准发行之日起 12 个月内有效。具体内容详 见公司于 2022 年 ...

中信证券股份有限公司 关于上海电力股份有限公司 非公开发行限售股上市流通的核查意见 中信证券股份有限公司（以下简称"中信证券"、"保荐人"）作为上海 电力股份有限公司（以下简称"上海电力"、"上市公司"、"公司"）持续 督导工作的保荐人，根据《证券发行上市保荐业务管理办法》《上海证券交易 所上市公司自律监管指引第 1 号——规范运作（2023 年 12 月修订）》《上海 证券交易所上市公司自律监管指引第 11 号——持续督导》《上市公司监管指 引第 2 号——上市公司募集资金管理和使用的监管要求（2022 年修订）》以 及《上海证券交易所股票上市规则（2024 年 4 月修订）》等相关规定，对上 海电力 2022 年度非公开发行 A 股股票限售股上市流通事项进行了审慎核查， 具体核查意见如下： 一、本次限售股上市类型 上海电力股份有限公司（以下简称"公司"或"上海电力"）本次限售股 上市类型为非公开发行的有限售条件流通股。 （一）非公开发行核准情况 2022 年 5 月 30 日，中国证券监督管理委员会出具的《关于核准上海电力 股份有限公司非公开发行股票的批复》（证监许可[2022]1123 号），核准公司 ...