证券代码：600027 证券简称：华电国际 公告编号：2025-094 华电国际电力股份有限公司 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。 附件：职工董事祝月光先生简历 1 附件： 职工董事祝月光先生简历 2025 年 11 月 18 日，华电国际电力股份有限公司（以下简称"本公司"）召开 2025 年第三次临时股东大会审议通过了《关于修订<公司章程>及取消监事会的议案》，依据 修订后的本公司《公司章程》，本公司董事会由 12 名董事组成，设职工董事 1 名，无 需提交股东会审议。本公司通过民主方式选举祝月光先生（简历详见附件）为本公司第 十届董事会职工董事，任期自 2025 年 11 月 18 日起至第十届董事会任期届满之日止。 祝月光先生当选本公司第十届董事会职工董事后，本公司董事会成员中兼任高级管 理人员职务的董事以及由职工代表担任的董事人数总计不超过公司董事总数的二分之 一，符合相关法律法规、规范性文件及《公司章程》的规定。祝月光先生的任职资格符 合《公司法》《上海证券交易所股票上市规则》 ...

北京市海问律师事务所 关于华电国际电力股份有限公司 2025 年第三次临时股东大会的法律意见书 致：华电国际电力股份有限公司 根据《中华人民共和国证券法》《中华人民共和国公司法》（以下合称"有关 法律"）及《华电国际电力股份有限公司章程》（以下简称"公司章程"）的规定， 北京市海问律师事务所（以下简称"本所"）作为华电国际电力股份有限公司（以 下简称"公司"）的法律顾问，应公司的要求，指派律师列席公司于 2025 年 11 月 18 日召开的 2025 年第三次临时股东大会（以下简称"本次会议"）现场会议， 对本次会议召开的合法性进行见证，并依法出具本法律意见书。 本所及经办律师依据《中华人民共和国证券法》《律师事务所从事证券法律 业务管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定及本法 律意见书出具日以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤 勉尽责和诚实信用原则，进行了充分的核查验证，保证本法律意见书所认定的事 实真实、准确、完整，所发表的结论性意见合法、准确，不存在虚假记载、误导 性陈述或者重大遗漏，并承担相应法律责任。 在本法律意见书中，本所律师仅对本次会议召集和召开的程序 ...

证券代码：600027 证券简称：华电国际 公告编号：2025-092 华电国际电力股份有限公司 2025年第三次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 736 | | --- | --- | | 其中：A 股股东人数 | 735 | | 股） 境外上市外资股股东人数（H | 1 | | 2、出席会议的股东所持有表决权的股份总数（股） | 6,262,401,040 | | 股股东持有股份总数 其中：A | 6,083,459,337 | | 境外上市外资股股东持有股份总数（H 股） | 178,941,703 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份总数 | 53.931475 | | 的比例（%） | | | 其中：A 股股东持股占股份总数的比例（%） | 52.390438 | | 境外上市外资股股东持股占股份总数的比例（%） | 1.541037 | （四） ...

证券代码：600027 证券简称：华电国际 公告编号：2025-093 华电国际电力股份有限公司 第十届董事会第二十九次会议决议公告 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。 华电国际电力股份有限公司（以下简称"本公司"）第十届董事会第二十九次会议 （以下简称"本次会议"）于 2025 年 11 月 18 日在中华人民共和国北京市西城区宣武 门内大街 4 号华滨国际大酒店召开。本次会议通知已于 2025 年 11 月 8 日以电子邮件形 式发出。本公司董事长刘雷先生主持了本次会议，本公司 12 名董事亲自或委托出席会 议，其中董事朱鹏先生委托董事王晓渤先生出席会议，董事曹敏女士委托董事曾庆华先 生出席会议，独立董事丰镇平先生委托独立董事黄克孟先生出席会议。本次会议符合有 关法律、法规及《公司章程》的规定，本次会议合法有效。 一、审议并批准《关于补选第十届董事会战略委员会委员的议案》，选举祝月光先 生担任战略委员会委员职务，任期至第十届董事会届满为止。 本议案的表决情况：12 票同意、0 票反对、0 票弃权。 则》，授权董 ...

Core Viewpoint - The Huadian Qiongjie Wind Power Project, located at an altitude of 5,370 meters, is the highest operational wind power project globally and the largest single-unit capacity wind power project in Tibet, contributing to green and low-carbon development in the region [3][5]. Group 1: Project Overview - The project has a total installed capacity of 60 MW, consisting of 11 units of 5.0 MW and 1 unit of 6.25 MW wind turbines, along with a 12 MW/48 MWh grid-connected energy storage system [5]. - It is expected to provide clean energy sufficient for approximately 120,000 households annually, reducing carbon dioxide emissions by about 128,700 tons per year [5]. Group 2: Technical Innovations - The project team overcame significant technical challenges due to extreme environmental conditions, such as low oxygen levels and temperature fluctuations, by innovating construction techniques and optimizing logistics [5][6]. - A single-blade hoisting technique was applied for the first time at altitudes above 5,000 meters, saving approximately 66% of the operational space required compared to traditional methods and increasing the effective working wind speed limit to 10 m/s [6]. Group 3: Environmental and Community Impact - The project adheres to the principles of being system-friendly, eco-friendly, and community-friendly, implementing a technology system that includes equipment selection, energy storage, and intelligent control to stabilize wind power fluctuations [6]. - It has restored 360,000 square meters of vegetation and laid protective nets over 120,000 square meters, ensuring that ecological protection is integrated with project construction [6]. - The project has directly increased local income by over 3.6 million yuan and boosted local industry revenue by more than 11 million yuan through land leasing, participation in construction, and skills training [6].

Core Points - China Huadian Group has successfully connected the Qiongjie Wind Power Project in Tibet to the grid, making it the highest wind power project in China at an elevation of 5,370 meters [1] - The project has a total installed capacity of 60 megawatts, consisting of 12 wind turbines, and includes a grid-connected energy storage system [1] - It is expected to provide clean energy sufficient for approximately 120,000 households annually [1] Summary by Sections Project Details - The Qiongjie Wind Power Project is located in Shannan City, Tibet, and features a total installed capacity of 60 megawatts with 12 wind turbines [1] - The project aims to address the energy supply fluctuations in Tibet, where hydropower and solar energy dominate the energy mix [1] Wind Resource and Challenges - Tibet has abundant wind resources, with about 30% of the region's area experiencing wind speeds above 7 meters per second, primarily at elevations above 4,800 meters [1] - The project team faced challenges such as low oxygen levels (57% of that at plain areas) and significant temperature fluctuations (over 20 degrees Celsius) [1] Innovative Construction Techniques - The project utilized optimized concrete mixing and a unique thermal insulation method to ensure the strength and durability of concrete in low-temperature conditions [1] - A single-blade hoisting technique was applied for the first time at elevations above 5,000 meters, saving approximately 66% of the operational space required compared to traditional methods [2] Economic Impact - The project has directly contributed to local income, generating over 3.6 million yuan for the community and boosting local industry by over 11 million yuan [2] - Ecological restoration efforts included high-performance substrate ecological spraying technology to repair vegetation [2]

Core Insights - The Qiongjie Wind Power Project in Tibet has officially commenced grid-connected power generation, becoming the highest-altitude wind farm in operation in China at an elevation of 5,370 meters [1][5] Group 1: Project Overview - The total installed capacity of the Qiongjie Wind Power Project is 60 megawatts, featuring 12 wind turbine units, which is the largest single-unit capacity in Tibet [5] - The wind farm is located in a prime wind energy resource area in the southern Himalayas of Tibet, with an average annual wind speed exceeding 8.0 meters per second, and exhibits characteristics of strong winter winds and nighttime energy production [5] Group 2: Energy Production and Impact - The project is expected to generate approximately 160 million kilowatt-hours of electricity annually, sufficient to meet the energy needs of around 120,000 households [5] - A 12 megawatt/48 megawatt-hour grid-connected energy storage system has been constructed alongside the wind farm to ensure clean energy supply for the upcoming winter and spring seasons in the Tibet Autonomous Region [5] Group 3: Construction Techniques and Environmental Considerations - To ensure successful construction under extreme natural conditions, advanced concrete pouring techniques were employed to address the challenges of high-altitude concrete work [5] - Environmental protection measures included the use of grassland greenhouse maintenance, resulting in the restoration of 360,000 square meters of vegetation, providing replicable technical experience for high-altitude wind power construction and ecological protection globally [5]

11月17日，记者从中国华电集团获悉，位于西藏山南的琼结风电项目正式并网发电。项目风机点位最高 海拔5370米，投产后成为我国在运行的海拔最高风电场。 琼结风电项目总装机60兆瓦，共安装12台风电机组，单台机组装机容量为西藏最大。风电场坐拥西藏南 部喜马拉雅山区优质风能资源区，场区年平均风速超8.0米每秒，同时具有"冬季强风、夜间发力"的资 源特性，这与电网的用电负荷形成天然互补。 据了解，为确保极端自然条件下项目建设的顺利推进，技术人员采用风机基础混凝土浇筑盖模施工工 艺，解决超高海拔混凝土浇筑恶劣自然环境影响，实现高寒地区大体积混凝土一次性连续浇筑。同时， 采取草皮温室养护等高寒草甸保护措施，累计修复植被达36万平方米，为全球超高海拔风电建设及生态 保护提供可复制技术经验。 （文章来源：央视新闻） 华电西藏琼结风电项目经理王世奎：项目投运后，预计每年发电量可满足大约12万户家庭的用电需求， 还同步配套建设12兆瓦/48兆瓦时构网型储能系统，为西藏自治区今冬明春电力保供提供清洁能源保 障。 ...

Investment Rating - The report maintains a "Positive" outlook on the public utilities and environmental protection sectors [3] Core Insights - The report highlights a significant increase in electricity production in October, with total generation reaching 800.2 billion kWh, a year-on-year growth of 7.9% [4][11] - Hydropower and thermal power contributed the most to the increase in electricity generation, while wind power saw a decline of 11.9% compared to the previous year [4][10] - Natural gas prices showed mixed trends globally, with stable prices in Asia and fluctuations in Europe and North America [22][40] Summary by Sections 1. Electricity Production - In October, thermal power generation was 513.8 billion kWh, up 7.3% year-on-year, while hydropower generation reached 135.1 billion kWh, up 28.2% [4][11] - The total increase in electricity generation for October was approximately 58.6 billion kWh, with thermal power contributing 35 billion kWh and hydropower contributing 29.7 billion kWh [10][11] - The Three Gorges Reservoir achieved its water storage target of 175 meters, supporting future hydropower generation [10] 2. Natural Gas Market - As of November 14, the Henry Hub spot price in the U.S. was $3.49/mmBtu, a weekly decrease of 7.32% [22] - The TTF spot price in Europe was €30.80/MWh, showing a slight weekly change of 0.81% [22] - Northeast Asia's LNG spot price remained stable at $11.10/mmBtu, with domestic supply being sufficient [22][40] 3. Investment Recommendations - For hydropower, the report recommends companies like Guotou Power, Chuan Investment Energy, and Huaneng Hydropower due to favorable autumn water conditions [20] - In the green energy sector, companies such as Xintian Green Energy and Longyuan Power are suggested for their stable returns and high utilization hours [20] - For nuclear power, the report highlights China Nuclear Power and China General Nuclear Power as key players due to ongoing approvals for new units [20] - In the thermal power sector, companies like Guodian Power and Inner Mongolia Huadian are recommended due to decreasing fuel costs [20] - The report also suggests focusing on integrated natural gas companies like Kunlun Energy and New Hope Energy for their potential recovery in profitability [42][43]

Group 1: Power Industry - The unified electricity market is accelerating construction, promoting high-quality development of renewable energy. The basic rules of the unified electricity market have been established, with a comprehensive coverage of the spot market and a market-driven pricing mechanism for renewable energy [1][24][29] - In the first three quarters of 2025, the national industrial power generation reached 72,557 billion kWh, a year-on-year increase of 1.6%, while the total social electricity consumption was 77,675 billion kWh, up 4.6% [20][22] - The electricity supply-demand situation is overall loose, but the peak load is tight, with the maximum electricity load reaching 1.506 billion kW on July 16, 2025, an increase of 0.55 million kW compared to the previous year [20][22] Group 2: Renewable Energy - The green electricity price has reached a bottoming point, with the core uncertainty regarding electricity prices gradually clarified, indicating that the industry's darkest hour is coming to an end [2][30] - The wind and solar installed capacity exceeded 1.7 billion kW in the first three quarters of 2025, accounting for nearly one-quarter of total social electricity consumption [36][40] - The challenges of renewable energy consumption remain, with increasing abandonment rates for wind and solar energy, indicating a mismatch between renewable energy development and consumption capacity [41][43] Group 3: Thermal Power - The transition of thermal power to a regulating power source is accelerating, with coal prices expected to support long-term contract prices, stabilizing thermal power profitability [2][10] - The capacity price for coal power is expected to increase further in 2026, promoting stable profitability for coal power [2][10] Group 4: Hydropower - Hydropower is experiencing a widening interest margin, with ample cash flow and stable performance supporting high dividends [3][10] - The core growth points for hydropower performance include increased installed capacity, rising electricity prices, and reduced financial costs and depreciation [3][10] Group 5: Nuclear Power - The nuclear power market is facing downward pressure on market prices, but there is a rebound in Guangdong's nuclear power pricing, indicating a strong momentum for new nuclear power development [3][10] - The approval of new nuclear units is regularized, with 10 units approved within the year, indicating a steady growth trajectory for the nuclear power sector [3][10] Group 6: Natural Gas - Domestic natural gas supply and demand are relatively loose, with a decline in apparent consumption by 0.2% year-on-year in the first nine months of 2025 [4][10] - The global natural gas market is entering a supply expansion phase, with overseas gas prices expected to decline [4][10] Group 7: Green Methanol - The promotion of green electricity consumption and the replacement of shipping fuels are expected to open up growth space for green methanol [4][9] - As of August 2025, there are 173 signed/registered green methanol projects in China, with a capacity of 53.46 million tons per year, indicating rapid growth in project numbers and capacity [9][10] Group 8: Environmental Protection - The water and waste incineration industries are entering a mature phase, with significant improvements in free cash flow [9][10] - The domestic waste oil resource utilization industry is expected to benefit from the EU's SAF mandatory blending policy, increasing demand for raw materials [9][10]