从资金流向上来看，当日电力板块主力资金净流入10.58亿元，游资资金净流出8.52亿元，散户资金净流 出2.06亿元。电力板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600021 上海电力 | | 4.30 Z | 11.32% | -1.98 Z | -5.21% | -2.32 乙 | -6.11% | | 601985 中国核电 | | 2.50 Z | 9.00% | -1.39 Z | -5.00% | -1.11 Z | -4.01% | | 600900 长江电力 | | 1.73亿 | 5.55% | -1.59亿 | -5.12% | -1326.78万 | -0.43% | | 003816 中国广核 | | 1.38亿 | 8.25% | -3055.27万 | -1.83% | -1.07 Z | -6.42% | | 600795 国电电力 | | 9194.7 ...

Core Viewpoint - The report highlights the successful completion of China's first ship-based green methanol refueling operation at Ningbo Zhoushan Port, marking a significant milestone in the development of green fuel capabilities in the region [3]. Market Review - In September, the CSI 300 Index rose by 3.20%, while the public utility index increased by 0.41% and the environmental index by 0.77%. The relative monthly returns for these indices were -2.80% and -2.43% respectively [2]. - Among the 31 primary industry sectors, public utilities and environmental sectors ranked 13th and 11th in terms of growth. The environmental sector saw a 0.77% increase, while the electricity sector's thermal power rose by 2.34%, and hydropower fell by 3.08% [2]. Important Events - The successful refueling of the "COSCO Shipping Libra" with 230 tons of green methanol at Ningbo Zhoushan Port signifies the port's capability to handle LNG, biofuels, and methanol, enhancing its status as an international hub [3]. - This operation involved collaboration between China Ship Fuel, Zhejiang Port Group, and Ningbo Zhoushan Port Group, utilizing seven specialized methanol transport tankers and explosion-proof refueling equipment [3]. Investment Strategy - Public Utilities: Recommendations include Huadian International for thermal power, Longyuan Power and Three Gorges Energy for renewable energy, and China Nuclear Power for stable nuclear power operations [4][5]. - Environmental Sector: Focus on companies like China Everbright Environment and Zhongshan Public Utilities, as well as opportunities in the domestic waste oil recycling industry due to upcoming EU SAF policies [5].

证券研究报告 | 2025年10月08日 公用环保 2025 年 10 月投资策略 优于大市 中国船燃成功完成浙江省首单船用绿色甲醇加注业务，关注四季度聚 变装备招标需求释放 市场回顾：9 月沪深 300 指数上涨 3.20%，公用事业指数上涨 0.41%，环 保指数上涨 0.77%，月相对收益率分别为-2.80%和-2.43%。申万 31 个一 级行业分类板块中，公用事业及环保涨幅处于第 13 和第 11 名。分板块 看，环保板块上涨 0.77%；电力板块子板块中，火电上涨 2.34%；水电 下跌 3.08%，新能源发电下跌 1.36%；水务板块上涨 1.27%；燃气板块上 涨 5.65%。 重要事件：中国船燃成功完成浙江省首单船用绿色甲醇加注业务。9 月 29 日，随着 7 台专业槽罐车通过防爆加注橇装设备将 230 吨绿色甲醇注 入停靠在宁波舟山港梅山港区 9 号泊位的"中远海运天秤座"轮，中国 船燃联合浙江省海港集团、宁波舟山港集团，在宁波梅山港区成功为"中 远海运天秤座"轮完成绿色甲醇加注，这标志着浙江省首单船用绿色甲 醇加注业务圆满落地。这一里程碑事件标志着宁波舟山港成为国内少数 同时具备 LNG ...

Market Overview - The electricity sector experienced a decline of 0.19% on the trading day, with Lianmei Holdings leading the drop [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Stock Performance - Notable gainers in the electricity sector included: - Hengtong Co., Ltd. (600226) with a closing price of 4.70, up 7.55% [1] - Shanghai Electric (600021) at 21.16, up 7.52% [1] - ST Yinda (300125) at 8.88, up 6.35% [1] - Lianmei Holdings (600167) was the biggest loser, closing at 9.05, down 9.95% [2] Trading Volume and Value - Hengtong Co., Ltd. had a trading volume of 1.477 million shares and a transaction value of 681 million yuan [1] - Shanghai Electric recorded a trading volume of 1.747 million shares with a transaction value of 359.5 million yuan [1] - Lianmei Holdings had a trading volume of 882,100 shares and a transaction value of 824 million yuan [2] Capital Flow - The electricity sector saw a net outflow of 984 million yuan from institutional investors, while retail investors contributed a net inflow of 735 million yuan [2] - The capital flow for key stocks showed: - Shanghai Electric had a net inflow of 395 million yuan from institutional investors [3] - ST Yinda experienced a net inflow of 19.5 million yuan from institutional investors [3]

华西证券表示，按当前装机进度测算，风电、光伏为主的新能源在2025~2035年仍有近20亿千瓦的新增 空间。第二、第三批大型风光基地加速建设，深远海风电、分散式风电稳步推进，集中式与分布式光伏 持续扩容。行业有望在"双碳"目标驱动下实现长期增长，仍看好新能源产业机会。 （文章来源：每日经济新闻） 9月30日，A股三大指数继续上行，电力板块早盘维持低位震荡，午后持续拉升。截至14:23，绿电ETF （562550）强势翻红，持仓股上海电力涨超8%，嘉泽新能、桂冠电力、吉电股份、建投能源、晶科科 技等股跟涨。 消息面上，国资委召开部分国有企业经济运行座谈会，首次提出"稳电价反内卷"，绿电行业有望迎来反 转。 ...

Core Points - Shanghai Electric's stock price increased by 5.03% on September 30, reaching 20.67 CNY per share, with a trading volume of 1.966 billion CNY and a turnover rate of 3.47%, resulting in a total market capitalization of 58.222 billion CNY [1] - The stock has risen for four consecutive days, with a cumulative increase of 4.68% during this period [1] Company Overview - Shanghai Electric Power Co., Ltd. is located at No. 1, Gaoke West Road, Pudong New District, Shanghai, established on June 4, 1998, and listed on October 29, 2003 [1] - The company's main business includes power generation, heating, and electricity services, with revenue composition as follows: electricity 92.90%, heating 5.49%, and others 1.61% [1] Shareholder Information - Among the top ten circulating shareholders of Shanghai Electric, a fund under Southern Fund holds a significant position. The Southern CSI 500 ETF (510500) increased its holdings by 2.9551 million shares in the second quarter, totaling 20.9028 million shares, which accounts for 0.8% of the circulating shares [2] - The estimated floating profit from the recent stock price increase is approximately 20.6937 million CNY, with a floating profit of 18.3944 million CNY during the four-day rise [2] Fund Performance - The Southern CSI 500 ETF (510500) was established on February 6, 2013, with a current scale of 113.438 billion CNY. Year-to-date returns are 30.2%, ranking 1800 out of 4220 in its category, while the one-year return is 43.13%, ranking 1608 out of 3846 [2] - The fund manager, Luo Wenjie, has a tenure of 12 years and 165 days, with a total fund asset size of 138.999 billion CNY. The best fund return during his tenure is 148.18%, while the worst is -47.6% [2]

资金流向方面，主力资金净流入192.80万元，特大单买入3464.56万元，占比5.11%，卖出3512.85万元， 占比5.19%；大单买入1.34亿元，占比19.84%，卖出1.32亿元，占比19.48%。 9月30日，上海电力盘中上涨2.03%，截至10:01，报20.08元/股，成交6.77亿元，换手率1.21%，总市值 565.60亿元。 责任编辑：小浪快报 上海电力所属申万行业为：公用事业-电力-火力发电。所属概念板块包括：氢能源、光伏玻璃、新能 源、风能、太阳能等。 截至6月30日，上海电力股东户数14.40万，较上期减少1.03%；人均流通股18177股，较上期增加 1.04%。2025年1月-6月，上海电力实现营业收入204.75亿元，同比增长1.76%；归母净利润19.09亿元， 同比增长43.85%。 分红方面，上海电力A股上市后累计派现68.21亿元。近三年，累计派现14.51亿元。 机构持仓方面，截止2025年6月30日，上海电力十大流通股东中，南方中证500ETF（510500）位居第五 大流通股东，持股2090.28万股，相比上期增加295.51万股。香港中央结算有限公司位居第六 ...

Market Overview - The Shanghai Composite Index fell by 0.65% on September 26, with 10 industries experiencing gains, led by the oil and petrochemical sector with a rise of 1.17% and the environmental sector up by 0.38% [1] - The utilities sector ranked third in terms of daily gains, while the computer and electronics sectors faced the largest declines, down 3.26% and 2.75% respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 83.579 billion yuan, with five industries seeing net inflows. The automotive sector led with a net inflow of 0.882 billion yuan despite a decline of 0.56% [1] - The banking sector also saw a slight increase of 0.08% with a net inflow of 0.0566 billion yuan [1] - A total of 26 industries experienced net capital outflows, with the electronics sector leading at a net outflow of 29.836 billion yuan, followed by the computer sector with a net outflow of 13.807 billion yuan [1] Utilities Sector Performance - The utilities sector rose by 0.35% with a net capital outflow of 0.317 billion yuan. Out of 131 stocks in this sector, 80 saw gains, including 2 hitting the daily limit, while 45 declined, with 2 hitting the lower limit [2] - Among the stocks with net capital inflows, Shanghai Electric led with a net inflow of 0.270 billion yuan, followed by Changjiang Electric and Shimao Energy with inflows of 84.043 million yuan and 38.960 million yuan respectively [2] - The stocks with the largest capital outflows included Dazhong Public Utilities with a decline of 9.97% and a net outflow of 173.835 million yuan, followed by Luxin Technology and Tianfu Energy with outflows of 98.760 million yuan and 65.848 million yuan respectively [3]

Market Overview - The electricity sector increased by 0.65% compared to the previous trading day, with Jiaze New Energy leading the gains [1] - The Shanghai Composite Index closed at 3828.11, down by 0.65%, while the Shenzhen Component Index closed at 13209.0, down by 1.76% [1] Top Performers - Jiaze New Energy (601619) closed at 5.58, up by 10.06% with a trading volume of 1.7655 million shares and a transaction value of 979 million yuan [1] - Shimao Energy (605028) closed at 31.57, up by 10.00% with a trading volume of 49,800 shares and a transaction value of 153 million yuan [1] - Longyuan Power (001289) closed at 17.40, up by 3.26% with a trading volume of 108,800 shares and a transaction value of 2.6881 million yuan [1] Underperformers - Lianmei Holdings (600167) closed at 9.50, down by 10.04% with a trading volume of 916,900 shares and a transaction value of 889 million yuan [2] - Hengsheng Energy (605580) closed at 27.20, down by 4.33% with a trading volume of 71,100 shares and a transaction value of 29,671 yuan [2] - Guangdong Construction (002060) closed at 3.81, down by 3.54% with a trading volume of 924,400 shares and a transaction value of 357 million yuan [2] Capital Flow - The electricity sector experienced a net outflow of 191 million yuan from institutional investors, while retail investors saw a net inflow of 80.2183 million yuan [2] - Major stocks like Shanghai Electric (600021) had a net inflow of 373 million yuan from institutional investors, but a net outflow of 497 million yuan from retail investors [3] - Shimao Energy (605028) had a net inflow of 40.1514 million yuan from institutional investors, but also saw a net outflow of 27.2485 million yuan from retail investors [3]

二〇二五年第三次临时股东会 会议资料 二○二五年十月 2025 年第三次临时股东会 会议资料 现场会议开始时间：2025 年10 月13 日（周一） 下午14 时整 网络投票起止时间：自2025 年10 月13 日 至2025 年10 月13 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间 为股东会召开当日的交易时间段，即9:15-9:25,9:30-11:30，13:00-15:00； 通过互联网投票平台的投票时间为股东会召开当日的9:15-15:00。 现场会议地点：上海天诚大酒店 8 楼第二会议室 （上海市徐家汇路 585 号） 1 2025 年第三次临时股东会 会议资料 资 料 目 录 | 一、会 议 | 议 程 1 | | --- | --- | | | 二、关于终止并核销巴基斯坦 KE 公司股权收购事项的议案 2 | | | 三、关于修订《上海电力股份有限公司章程》的议案 7 | | 附件 | 1：《上海电力股份有限公司章程》修订对比表 8 | | 附件 | 2：《上海电力股份有限公司章程》（修订稿） 9 | 2025 年第三次临时股东会 会议资料 会 议 议 程 大会主持人宣 ...