Core Viewpoint - The company reported an increase in power generation and grid-connected electricity for the first three quarters of 2025 compared to the same period last year [1] Group 1: Power Generation - As of September 30, 2025, the company's total power generation reached 192,176.64 million kWh, which is a 1.25% increase from 189,810.13 million kWh in the same period last year [1] - The cumulative grid-connected electricity amounted to 186,519.82 million kWh, reflecting a 1.32% increase from 184,095.70 million kWh year-on-year [1] Group 2: Company Assurance - The company's board of directors guarantees that the announcement contains no false records, misleading statements, or significant omissions, and they assume legal responsibility for the authenticity, accuracy, and completeness of the content [1]

（编辑 楚丽君） 证券日报网讯 10月15日晚间，中闽能源发布公告称，据中闽能源股份有限公司（以下简称"公司"）统 计，截至2025年9月30日，公司下属各项目累计完成发电量192，176.64万千瓦时，比去年同期189， 810.13万千瓦时增加1.25%；累计完成上网电量186，519.82万千瓦时，比去年同期184，095.70万千瓦时 增加1.32%。 ...

Group 1 - High Energy Environment reported a net profit of 646 million yuan for the first three quarters, a year-on-year increase of 15.18% [1] - Tianzhun Technology received approval from the China Securities Regulatory Commission for issuing convertible bonds to unspecified objects [1] - Energy Conservation Wind Power achieved a cumulative power generation of 9.349 billion kWh, a year-on-year increase of 1.72% [1][2] Group 2 - Sichuan Road and Bridge's total amount of projects won in the first three quarters reached 97.173 billion yuan, a year-on-year increase of 25.16% [3] - Shaanxi Energy's power generation in the third quarter decreased by 1% year-on-year, while its coal sales increased by 136.98% [3][4] Group 3 - Jintuo Co. announced that four shareholders plan to reduce their holdings by up to 2.95% of the company's shares [5] - Tailin Microelectronics expects a net profit increase of 118% year-on-year for the first three quarters, with revenue of approximately 766 million yuan [6] - Asia-Pacific Co. anticipates a net profit of 310 million to 335 million yuan for the first three quarters, a year-on-year increase of 97.38% to 113.30% [8] Group 4 - He Sheng New Materials expects a net profit increase of 60% to 80% for the first three quarters, with a projected profit of 137 million to 154 million yuan [9] - Spring Airlines reported a passenger turnover of 4.835 billion person-kilometers in September, a year-on-year increase of 22.87% [10][11] Group 5 - Mingxin Xuteng received a notification from a leading new energy vehicle company for a project worth approximately 650 million yuan [12] - Acolyte's subsidiary received a government subsidy of 47.13 million yuan for fixed asset investment [13] Group 6 - Fangsheng Pharmaceutical's subsidiary received approval for clinical trials of a new drug for treating advanced prostate cancer [14] - Aofu Technology plans to sell idle factory assets for a total price of 23.852 million yuan [16] Group 7 - Ganyue Expressway reported a service income of 313 million yuan in September [18] - Dong'an Power secured five new market agreements in the third quarter, with a total projected sales volume of approximately 1 million units [20] Group 8 - Zhongmin Energy achieved a cumulative power generation of 1.922 billion kWh, a year-on-year increase of 1.25% [21] - Pan-Asia Micro-Pore's application for issuing shares to specific objects has been accepted by the Shanghai Stock Exchange [23] Group 9 - Shenghui Integration reported an order balance of 2.214 billion yuan as of September 30, a year-on-year increase of 21.21% [24] - Jineng Technology's vice president resigned for personal reasons [25] Group 10 - Ruixin Microelectronics expects a net profit increase of 116% to 127% for the first three quarters, with a projected profit of 760 million to 800 million yuan [33] - Shanghai Pharmaceuticals received FDA approval for a new drug application for doxycycline capsules [34] Group 11 - Ruima Precision's subsidiary received a project notification for air suspension systems from a domestic automaker, with a total sales forecast of approximately 265 million yuan [36] - Galaxy Magnetics anticipates some impact on its export business due to the Ministry of Commerce's announcement on export controls for certain rare earth items [37] Group 12 - Ba Tian Co. expects a net profit increase of 230.79% to 260.15% for the first three quarters, with a projected profit of 676 million to 736 million yuan [43] - Donglai Technology plans to reduce its repurchased shares by up to 1% of the total share capital [45] Group 13 - Guangkang Biochemical announced that shareholders plan to reduce their holdings by up to 2.68% of the company's shares [46] - Nanwang Energy reported a net profit increase of 37.13% for the first three quarters, with a total revenue of 5.32 billion yuan [48] Group 14 - Yahua Group expects a net profit increase of 106.97% to 132.84% for the first three quarters, with a projected profit of 320 million to 360 million yuan [49] - Hualitai's annual production project for 20,000 tons of benzidine has been successfully completed and is now in full production [51]

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。 证券代码：600163 证券简称：中闽能源 公告编号：2025-034 中闽能源股份有限公司 2025 年前三季度发电量完成情况的公告 据中闽能源股份有限公司（以下简称"公司"）统计，截至 2025 年 9 月 30 日，公司下属各项目累计完成发电量 192,176.64 万千瓦时，比去年同期 189,810.13 万千瓦时增加 1.25%；累计完成上网电量 186,519.82 万千瓦时，比 去年同期 184,095.70 万千瓦时增加 1.32%，详情如下： | 经营地区/ 发电类型 | | 发电量(万千瓦时) | | | 上网电量(万千瓦时) | | | --- | --- | --- | --- | --- | --- | --- | | | 本期 | 上年同期 | 同比 | 本期 | 上年同期 | 同比 | | 福建省 | | | | | | | | 风电 | 174,104.64 | 168,855.00 | 3.11% | 169,406.66 | 164,107. ...

Core Viewpoint - China Minmetals Energy (600163.SH) reported an increase in power generation and grid-connected power volume for the period ending September 30, 2025, indicating positive operational performance compared to the previous year [1] Group 1: Power Generation - The total power generation reached 192,176.64 million kWh, representing a year-on-year increase of 1.25% [1] - The cumulative grid-connected power volume was 186,519.82 million kWh, which is an increase of 1.32% compared to the same period last year [1]

Group 1 - The core point of the article is that China Minmetals Energy (600163) reported an increase in power generation and grid-connected electricity for the period ending September 30 [1] Group 2 - The total power generation reached 1.922 billion kilowatt-hours, representing a year-on-year increase of 1.25% [1] - The total grid-connected electricity amounted to 1.865 billion kilowatt-hours, showing a year-on-year increase of 1.32% [1]

Core Viewpoint - The company reported an increase in electricity generation and grid-connected electricity volume for the first three quarters of 2025 compared to the same period last year [1] Group 1: Electricity Generation - The total electricity generation reached 192,176.64 million kilowatt-hours as of September 30, 2025, representing a 1.25% increase from 189,810.13 million kilowatt-hours in the same period last year [1] Group 2: Grid-Connected Electricity - The cumulative grid-connected electricity volume was 186,519.82 million kilowatt-hours, which is a 1.32% increase compared to 184,095.70 million kilowatt-hours in the previous year [1]

Core Viewpoint - The company reported an increase in electricity generation and grid-connected electricity volume for the first three quarters of 2025 compared to the same period last year [1] Group 1: Electricity Generation - The total electricity generation reached 192,176.64 million kilowatt-hours as of September 30, 2025, representing a 1.25% increase from 189,810.13 million kilowatt-hours in the same period last year [1] Group 2: Grid-Connected Electricity - The cumulative grid-connected electricity volume was 186,519.82 million kilowatt-hours, which is a 1.32% increase compared to 184,095.70 million kilowatt-hours in the previous year [1]

Core Insights - The company reported a cumulative power generation of 1.922 billion kWh as of September 30, 2025, representing a 1.25% increase compared to the same period last year [1] Summary by Category Wind Power Generation - Wind power generation in Fujian Province reached 1.741 billion kWh, showing a year-on-year growth of 3.11% [1] - Wind power generation in Heilongjiang Province totaled 122 million kWh, reflecting a year-on-year decline of 23.05% [1] Biomass Power Generation - Biomass power generation amounted to 43.4418 million kWh, which is a significant year-on-year increase of 52.98% [1] Photovoltaic Power Generation - Photovoltaic power generation in Hami, Xinjiang, was recorded at 15.3393 million kWh, indicating a year-on-year decrease of 32.42% [1] Total Power Supply - The total on-grid electricity generation reached 1.865 billion kWh, marking a 1.32% increase compared to the previous year [1]

Investment Rating - The report maintains a "Positive" investment rating for the utility sector [8] Core Insights - The auction results for mechanism electricity prices in Yunnan show that the clearing prices for photovoltaic projects are 0.33 CNY/kWh and for wind projects are 0.332 CNY/kWh, both very close to the auction ceiling [2][10] - The market expectations for Yunnan's new energy market are relatively stable and rational, with strong auction results reinforcing previous weak profitability expectations for new energy, especially photovoltaic [2][10] - Multiple provinces have initiated auction mechanisms for 2025 electricity prices, indicating a divergence in regional development rhythms, with provinces facing significant consumption pressure or high photovoltaic ratios likely to slow down photovoltaic development [2][10] Summary by Sections Auction Results - Yunnan's first auction for incremental new energy projects had a high bid success rate of 96.22%, with 509 out of 529 projects winning bids [10] - The auction price ranges for photovoltaic and wind projects were 0.22-0.3358 CNY/kWh and 0.18-0.3358 CNY/kWh respectively, with the clearing prices very close to the upper limits [10] Regional Development - Several provinces, including Jiangxi, Shanghai, Heilongjiang, and Xinjiang, have released their 2025 mechanism electricity price auction plans, with varying total scales and auction price ranges [10] - The report suggests that provinces with high photovoltaic ratios may see a slowdown in development through mechanism electricity allocation [10] Investment Recommendations - The report recommends focusing on quality transformation coal power operators such as Huaneng International, Datang Power, and Guodian Power, as well as hydropower companies like Yangtze Power and State Power Investment [10] - In the new energy sector, it suggests investing in companies like Longyuan Power, Xintian Green Energy, China Nuclear Power, and Zhongmin Energy, indicating a potential recovery in the industry [10]