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。 一、董事会会议召开情况 浙江省新能源投资集团股份有限公司（以下简称"公司"）第二届董事会第 三十四次会议经全体董事一致同意豁免本次会议通知时间要求，会议通知于 2025 年 12 月 2 日以邮件形式通知全体董事，本次会议于 2025 年 12 月 3 日下午 以通讯方式召开。本次会议应出席董事 9 名，实际出席董事 9 名，公司高管等人 员列席了会议。会议由董事长张坚群先生主持，本次会议的召集、召开和表决程 序均符合《公司法》《公司章程》及相关法律法规的规定。 二、董事会会议审议情况 经与会董事认真审议，充分讨论，会议审议通过了以下议案： 1、审议通过《关于提名第三届董事会独立董事候选人的议案》 同意提名杨晓兰女士为公司第三届董事会独立董事候选人，具体内容详见公 司披露于上海证券交易所网站的《关于提名独立董事候选人的公告》。 证券代码：600032 证券简称：浙江新能 公告编号：2025-054 浙江省新能源投资集团股份有限公司 第二届董事会第三十四次会议决议公告 本议案已经公 ...

格隆汇12月3日丨浙江新能(600032.SH)公布，公司拟与浙江能源国际有限公司（以下简称"浙能国际"） 等股东共同对控股子公司文成光伏按持股比例进行增资，其中公司按持股比例26%增资4,466.28万元。 本次增资完成后，文成光伏注册资本将由50万元人民币增加到17,228万元人民币。各股东方持股比例不 变。根据文成光伏《公司章程》的有关规定，公司与浙能国际为一致行动人，浙能国际不参与文成光伏 的经营和管理，浙能国际委托公司就有关文成光伏经营发展的任何事项向股东会行使提案权和表决权， 故文成光伏纳入公司合并报表范围。 ...

Core Insights - As of December 2, a total of 128 stocks in the Shanghai and Shenzhen markets have experienced net buying through financing for five consecutive days or more [1] - The stock with the longest consecutive net buying days is Zhongchen Technology, which has seen net buying for 12 trading days [1] - Other notable stocks with significant consecutive net buying days include Saiwei Electronics, Hunan Gold, Huaxi Securities, Huada Technology, Shanghai Airport, Zhejiang Xinneng, Xiangyang Bearing, and Nanwei Medical [1]

Core Insights - Zhejiang Xineng experienced a decline of 3.96% in stock price on November 21, with a trading volume of 93.7362 million yuan [1] - The company reported a financing net purchase of 4.4837 million yuan on the same day, with a total financing and securities balance of 133 million yuan [1] Financing Overview - On November 21, Zhejiang Xineng had a financing purchase of 9.2887 million yuan, with a current financing balance of 132 million yuan, representing 0.73% of the circulating market value [1] - The financing balance is above the 60th percentile level over the past year, indicating a relatively high position [1] Securities Lending Overview - On November 21, the company repaid 1,000 shares in securities lending and sold 400 shares, with a selling amount of 3,004 yuan based on the closing price [1] - The securities lending balance is 727,000 yuan, which is below the 20th percentile level over the past year, indicating a low position [1] Company Profile - Zhejiang Xineng, established on August 1, 2002, and listed on May 25, 2021, is based in Hangzhou, Zhejiang Province [1] - The company focuses on investment, development, operation management, and electricity sales in renewable energy projects, including hydropower, photovoltaic, and wind power [1] - The revenue composition is as follows: wind power 39.90%, photovoltaic 37.95%, hydropower 20.83%, and other businesses 1.32% [1] Financial Performance - For the period from January to September 2025, Zhejiang Xineng reported a revenue of 3.855 billion yuan, a year-on-year decrease of 1.56%, and a net profit attributable to shareholders of 613 million yuan, down 4.74% year-on-year [2] Shareholder Information - As of September 30, 2025, the number of shareholders is 47,100, a decrease of 8.60% from the previous period, with an average of 51,056 circulating shares per person, an increase of 9.40% [2] - Cumulatively, the company has distributed 688 million yuan in dividends since its A-share listing, with 594 million yuan distributed over the past three years [3] - Notable shareholders include Southern CSI 500 ETF, which holds 10.5145 million shares, a decrease of 213,600 shares from the previous period, and Hong Kong Central Clearing Limited, a new shareholder holding 9.0037 million shares [3]

Core Insights - The recent implementation of the market-oriented pricing reform for renewable energy in Zhejiang marks a significant shift from subsidy-based and price parity systems to a market-driven approach [1][2][3] Summary by Sections Policy Changes - The reform eliminates the previous financial subsidies for renewable energy stations, transitioning to a model where electricity prices are determined by market supply and demand [2][3] - The core elements of the reform include the full integration of renewable energy into the electricity market, the establishment of a "price settlement mechanism" for sustainable development, and a clear timeline for existing and new projects [3][4] Market Structure - The electricity market in Zhejiang is divided into three categories: spot market, medium to long-term market, and ancillary services market [5][6] - Renewable energy stations will participate in the spot market with a simplified entry process, while also engaging in green electricity trading and ancillary services to diversify revenue streams [5][6] Impact on Investment and Operations - The reform necessitates a shift in investment strategies for renewable energy companies, moving from a focus on capacity expansion to optimizing the entire lifecycle of energy stations [6][7] - Companies must now consider market dynamics, cost management, and risk control in their operational strategies, as the previous guaranteed purchase policies are no longer in place [7] Future Outlook - The market-driven pricing mechanism is expected to reflect actual supply and demand, optimizing resource allocation and potentially lowering operational costs for businesses [7] - The demand for electricity in Zhejiang, combined with an active trading market, continues to present attractive investment opportunities for renewable energy projects [7]

Core Viewpoint - The establishment of Wencheng County Zhenxin Green Energy Photovoltaic Power Co., Ltd. indicates a growing focus on renewable energy solutions, particularly in solar and wind power sectors [1] Company Summary - Wencheng County Zhenxin Green Energy Photovoltaic Power Co., Ltd. has been recently established, with its business scope including wind power technology services, solar power technology services, wind farm-related system research and development, and engineering management services [1] - The company is co-owned by Zhejiang Xinneng (stock code: 600032) among other stakeholders, highlighting collaboration within the renewable energy sector [1]

Core Insights - Zhejiang Province has officially launched the market-oriented reform plan for new energy grid pricing, marking a transition from subsidy reliance to market-based pricing for renewable energy projects [1][2][4] - The reform includes a "price difference settlement mechanism" that will apply to existing projects and new projects starting from June 1, 2025, allowing for a competitive pricing model [1][4] Summary by Sections Market Transition - The new policy signifies the end of the subsidy era and the beginning of a market-oriented trading phase for renewable energy in Zhejiang [2] - The reform is rooted in previous policies that began to open the market, such as the 2025 Zhejiang Electricity Market Trading Plan, which allowed a portion of renewable energy to enter the spot market [3] Industry Background - Zhejiang has a robust renewable energy industry supported by policies like the "Wind and Solar Doubling Plan," leading to a complete industrial chain from production to application [3] - As of September, renewable energy installations accounted for nearly 40% of the total power capacity in the province, with solar power surpassing coal as the primary energy source [3] Policy Details - The "136 Document" issued earlier this year ended the decade-long reliance on fixed pricing and introduced a fully market-based trading system [4] - The policy differentiates between existing and new projects, providing a safety net for existing projects while encouraging new projects to improve quality and efficiency [4][5] Implementation Strategy - The reform includes a transitional phase where existing projects will continue under current pricing policies, while new projects will have a gradual entry into the market [5][6] - The plan emphasizes a "gradual market entry" approach, allowing smaller distributed solar projects to participate with reduced operational complexity [6][7] Financial Mechanisms - For existing projects, the mechanism electricity volume cap is set at 100%, ensuring a stable price of 0.4153 yuan per kilowatt-hour [7] - New projects will have flexible bidding options, allowing them to choose between competitive bidding or a lower-risk automatic bidding process [7][8] Cost Reduction Measures - The plan aims to reduce the market participation costs for renewable energy projects, enabling them to compete more effectively [9] - Additional revenue opportunities will be created through auxiliary service markets, allowing projects with adjustment capabilities to participate and earn extra income [8][9] Market Opportunities - The new regulations create opportunities for renewable energy companies to adapt and innovate, shifting from a focus on capacity to lifecycle efficiency [10][11] - The transition to a market-driven model is expected to enhance the overall efficiency of resource allocation in the power system, benefiting both businesses and consumers [12][13]

证券代码：600032 证券简称：浙江新能 公告编号：2025-053 浙江省新能源投资集团股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2025 年 11 月 19 日(星期三)13:00-14:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 12 日（星期三）至 11 月 18 日（星 期二）16:00 前登录上证路演中心网站首页点击"提问预征集" 栏目或通过公司邮箱 zjnepe@163.com 进行提问。公司将在说明会 上对投资者普遍关注的问题进行回答。 本次业绩说明会以网络互动方式召开，公司将针对 2025 年第三 季度经营成果及财务指标的具体情况与投资者进行互动交流和沟通， 在信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 （一）会议召开时间：20 ...

Core Insights - The Zhejiang state-owned enterprise reform sector saw a rise of 0.39% on November 10, with Zhejiang Dongri leading the gains [1] - The Shanghai Composite Index closed at 4018.6, up 0.53%, while the Shenzhen Component Index closed at 13427.61, up 0.18% [1] Stock Performance Summary - Zhejiang Dongri (600113) closed at 48.43, with a significant increase of 9.99% and a trading volume of 92,100 shares, amounting to a transaction value of 430 million yuan [1] - Dongwang Times (600052) rose by 5.80% to close at 5.11, with a trading volume of 615,500 shares and a transaction value of 317 million yuan [1] - Guyue Longshan (600059) increased by 4.07% to 9.98, with a trading volume of 293,900 shares and a transaction value of 290.6 million yuan [1] - Sanbian Technology (002112) saw a 4.04% increase, closing at 16.49 with a trading volume of 804,900 shares and a transaction value of 1.276 billion yuan [1] - Other notable performers included Yong'an Futures (600927) with a 3.70% increase and a transaction value of 153 million yuan, and Chuangyuan Co. (300703) with a 3.63% increase and a transaction value of 295 million yuan [1] Capital Flow Analysis - The Zhejiang state-owned enterprise reform sector experienced a net outflow of 503 million yuan from institutional investors, while retail investors saw a net inflow of 292 million yuan [2] - The capital flow data indicates that major stocks like Juhua Co. (600160) had a net inflow of 1.14 billion yuan from institutional investors, while retail investors had a net outflow of 787.9 million yuan [3] - Ningbo Jingda (603088) had a net inflow of 62.29 million yuan from institutional investors, but a significant outflow of 877.8 million yuan from retail investors [3]

Core Insights - Zhejiang Province has officially launched the market-oriented pricing reform for renewable energy, marking a transition from subsidy-based to market-based electricity pricing for wind and solar projects [1][3] - The reform includes a "price difference settlement mechanism" that will take effect from January 1, 2026, allowing for a maximum of 90% of the annual electricity volume of existing projects to be included in the mechanism [1][2] - The new policy aims to enhance the efficiency of the renewable energy sector and reduce reliance on guaranteed pricing, promoting a more competitive market environment [3][9] Summary by Sections Market Reform Implementation - The implementation of the market-oriented pricing reform is a significant step for Zhejiang's renewable energy sector, allowing all renewable energy projects to participate in market transactions [1] - The reform is rooted in previous policies that began to open the market, such as the 2025 Zhejiang Electricity Market Trading Plan, which introduced floating prices based on supply and demand [2] Industry Background - Zhejiang has established a robust renewable energy industry, supported by policies like the "Wind and Solar Doubling Plan" and substantial subsidies, leading to a complete industrial chain from production to application [2] - As of September, renewable energy installations accounted for nearly 40% of the total power generation capacity in the province, with solar power surpassing coal as the primary energy source [2] Transition Mechanisms - The reform includes a transitional phase where existing projects will continue to operate under current pricing policies until the new scheme is fully implemented [3] - The policy differentiates between existing and new projects, allowing for a gradual adjustment to market conditions [3] Support for Distributed Energy - The reform recognizes the importance of distributed solar power, which constitutes a significant portion of Zhejiang's renewable energy capacity, and provides a "buffer period" for smaller projects to adapt to market conditions [5][6] - The policy allows distributed energy projects to participate in market transactions with reduced operational complexity, lowering entry barriers for smaller operators [5][6] Financial Incentives - The reform includes differentiated revenue assurance policies for existing and new projects, ensuring that early-stage distributed solar projects receive a higher proportion of guaranteed electricity volume [6] - Additional measures aim to reduce the market participation costs for renewable energy projects, enabling them to compete more effectively [7] Market Opportunities - The new policy framework encourages renewable energy companies to adapt and innovate, fostering a shift from a focus on capacity expansion to optimizing operational efficiency and lifecycle benefits [8] - The transition to a market-driven model is expected to enhance the overall efficiency of resource allocation in the electricity system, benefiting both businesses and consumers [10]