Group 1 - The A-share market saw a strong performance in the power sector, with several stocks hitting the daily limit up [1] - ShenNan Electric A, ZhaoXin Co., and MinDong Power all reached the daily limit up, indicating significant investor interest [1] - MeiYan JiXiang increased by over 6%, while NanWang Storage gained over 5%, and HuaYin Power rose over 4% [1] Group 2 - ZhongMin Energy and HuaDian Energy both experienced gains of over 3%, reflecting a positive trend in the industry [1]

Core Viewpoint - The company, Zhongmin Energy Co., Ltd., is set to hold a performance briefing for the third quarter of 2025 on November 14, 2025, to discuss its operational results and financial status with investors [3][6]. Group 1: Meeting Details - The performance briefing will take place on November 14, 2025, from 10:00 AM to 11:00 AM [2][6]. - The meeting will be conducted via video and online interaction at the Shanghai Stock Exchange Roadshow Center [3][6]. - Investors can submit questions from November 7 to November 13, 2025, before 4:00 PM through the Roadshow Center website or via the company's email [5][6]. Group 2: Participants - Key participants in the meeting will include the company's Chairman and General Manager, Guo Zheng, the Chief Financial Officer, Liu Shangying, the Board Secretary, Chen Hairong, and the Independent Director, Lin Lianqing [4]. Group 3: Contact Information - For inquiries, investors can contact the company's Securities Legal Affairs Department at 0591-87868796 or via email at zmzqb@zmny600163.com [7]. - After the meeting, investors can view the meeting's proceedings and main content on the Shanghai Stock Exchange Roadshow Center [7].

证券代码：600163 证券简称：中闽能源 公告编号：2025－038 中闽能源股份有限公司 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 14 日（星期五）上午 10:00-11:00 ●会议召开地点：上证路演中心 https://roadshow.sseinfo.com/ ●会议召开方式：上证路演中心视频和网络互动 一、说明会类型 本次业绩说明会以视频结合网络互动形式召开，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：2025 年 11 月 14 日（星期五）上午 10:00-11:00 （二）会议召开地点：上证路演中心 https://roadshow.sseinfo.com/ （三）会议召开方式：上证路演中心视频和网络互动 三、参加人员 公司党委书记、董事长兼总经理郭 ...

Core Viewpoint - The renewable energy sector in China is poised for significant growth, with projections indicating that renewable energy generation could double in the next five years, potentially replacing fossil fuels in the energy supply [2] Group 1: Industry Trends - The electricity sector is experiencing a transformation, with power operators gaining renewed vitality and intrinsic value being reassessed due to ongoing reforms [3] - The demand for electricity is robust, driven by the urgent need for smart grid upgrades and infrastructure improvements, leading to a high growth cycle in grid investment [5] - The photovoltaic (PV) industry is witnessing a trend of reducing losses, with the third quarter showing signs of recovery and a potential for performance improvement [5][6] Group 2: Investment Recommendations - Investors are encouraged to focus on high-quality thermal power operators such as Huaneng International and Datang Power, as well as major hydropower companies like Yangtze Power and Guotou Power [3] - The electricity sector's basic fundamentals are solidifying, with recommendations to pay attention to long-cycle growth areas such as ultra-high voltage and smart grid technologies [4] - The PV industry is expected to benefit from a dual boost of performance improvement and structural changes, suggesting a favorable environment for investment in this sector [5][6]

Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company's performance has been impacted by impairment losses from biomass units, but there has been a significant increase in subsidy receivables [5] - The company reported a 3.17% year-on-year increase in revenue for Q3 2025, but a 79.8% decline in net profit attributable to shareholders, primarily due to asset impairment [7] - The operational performance of the wind power business remains stable, with a slight increase in electricity generation [7] - The company has seen a notable increase in cash flow from operations, with a 197% year-on-year growth in net operating cash flow [7] - Recent policy changes in Fujian province are expected to stabilize returns on existing renewable energy projects [7] Financial Summary - The company’s projected revenue for 2025 is 1,791 million yuan, with a year-on-year growth rate of 2.84% [6] - The projected net profit attributable to shareholders for 2025 is 627 million yuan, reflecting a year-on-year decline of 3.72% [6] - The earnings per share (EPS) for 2025 is estimated at 0.33 yuan [6] - The company’s return on equity (ROE) is projected to be 8.70% in 2025 [6] - The price-to-earnings (P/E) ratio for 2025 is estimated at 15.85 [6]

Core Insights - The biomass power generation sector saw a 0.56% increase, ranking 8th among concept sectors, with 26 stocks rising, including Fulongma, Haitan Co., and Zhongmin Energy hitting the daily limit [1][2] Group 1: Stock Performance - Fulongma and Haitan Co. both experienced significant gains, with Fulongma rising by 9.99% and Haitan Co. by 9.97% [3][4] - Zhongmin Energy also performed well, increasing by 9.96% [3] - The top gainers in the sector included Makopolo and Feima International, which rose by 4.10% and 4.04% respectively [1][2] Group 2: Fund Flow - The biomass power generation sector attracted a net inflow of 448 million yuan, with 17 stocks receiving net inflows, and 5 stocks exceeding 10 million yuan in net inflow [2][3] - Fulongma led the sector with a net inflow of 541 million yuan, followed by Zhongmin Energy with 133 million yuan and Makopolo with 32 million yuan [2][3] Group 3: Net Inflow Ratios - Zhongmin Energy had the highest net inflow ratio at 30.89%, followed by Qianjiang Water with 14.54% and Fulongma at 13.65% [3][4]

中闽能源股份有限公司 ZHONGMIN ENERGY CO.,LTD. 2025 年第二次临时股东会 | 2025 | 年第二次临时股东会会议须知 2 | | --- | --- | | 2025 | 年第二次临时股东会会议议程 4 | | 议案 | 1：关于董事会换届选举第十届董事会非独立董事候选人的议案 6 | | 议案 | 2：关于董事会换届选举第十届董事会独立董事候选人的议案 8 | 中闽能源 2025 年第二次临时股东会会议资料 2025 年第二次临时股东会会议须知 为维护股东的合法权益，确保本次股东会的正常秩序及顺利召开，根据《中 华人民共和国公司法》《中华人民共和国证券法》《上市公司股东会规则》及《公 司章程》《公司股东会议事规则》等有关规定，特制定股东会须知如下，望出席 本次股东会的全体人员遵照执行。 会 议 资 料 2025 年 11 月 18 日 一、本次股东会设立会议登记处，具体负责会议组织工作和股东登记等相关 事宜。 二、出席本次股东会的对象为股权登记日在册的股东，本次股东会股权登记 日为 2025 年 11 月 12 日。涉及融资融券、转融通业务、约定购回业务相关账户 以及沪股通投资 ...

Core Insights - The electricity sector experienced a slight increase of 0.26% on the trading day, with Min Dong Power leading the gains [1] - The Shanghai Composite Index closed at 3960.19, down 0.41%, while the Shenzhen Component Index closed at 13175.22, down 1.71% [1] Electricity Sector Performance - Min Dong Power (code: 000993) saw a significant increase of 9.99%, closing at 11.67 with a trading volume of 299,700 shares and a transaction value of 342 million yuan [1] - Other notable performers included: - Zhongmin Energy (code: 600163) up 9.96% to 5.74 with a transaction value of 431 million yuan [1] - Tianfu Energy (code: 600509) up 5.05% to 8.74 with a transaction value of 740 million yuan [1] - Zhaoxin Co., Ltd. (code: 002256) up 4.21% to 3.22 with a transaction value of 652 million yuan [1] Capital Flow Analysis - The electricity sector experienced a net outflow of 231 million yuan from institutional investors and 369 million yuan from speculative funds, while retail investors contributed a net inflow of 600 million yuan [2] - Key stocks in terms of capital flow included: - Changjiang Electric (code: 600900) with a net inflow of 4.57 million yuan from institutional investors [3] - Min Dong Power (code: 000993) with a net inflow of 1.44 million yuan from institutional investors [3] - Zhongmin Energy (code: 600163) with a net inflow of 116 million yuan from institutional investors [3]

Core Points - The Shanghai Composite Index closed at 3969.05 points, remaining above the six-month moving average, with a slight decline of 0.19% [1] - A total trading volume of A-shares reached 1.231 trillion yuan [1] - 60 A-shares have surpassed the six-month moving average today, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - Zhongmin Energy (600163) saw a price increase of 9.96% with a deviation rate of 8.63% from the six-month moving average [1] - Mongolian Grass Ecology (300355) increased by 10.00%, with a deviation rate of 6.70% [1] - Everbright Jiabao (600622) rose by 9.86%, showing a deviation rate of 5.99% [1] Trading Activity - The trading turnover rate for Zhongmin Energy was 3.77% [1] - Mongolian Grass Ecology had a turnover rate of 14.09% [1] - Everbright Jiabao's turnover rate was 8.31% [1] Deviation Rate Rankings - The stocks with the largest deviation rates from the six-month moving average include Zhongmin Energy (8.63%), Mongolian Grass Ecology (6.70%), and Everbright Jiabao (5.99%) [1] - Other stocks with smaller deviation rates include Renxin New Materials, Jidong Equipment, and Huitong Holdings, which have just crossed the six-month line [1]

Group 1 - A-shares saw a total of 54 stocks hitting the daily limit up and 5 stocks hitting the limit down on November 4th [1] - Fujian state-owned assets concept stocks strengthened, with Zhongmin Energy and Zhangzhou Development hitting the limit up [1] - The ice and snow industry concept stocks rose, with Xue Ren Group hitting the limit up [1] Group 2 - *ST Yuancheng has experienced a continuous limit down for 17 days [2] - ST Dongni and ST Huizhou have faced limit down for 3 consecutive days [2] - Huide Technology has seen a limit down for 2 consecutive days, while ST Taizhong also hit the limit down [2]