Core Viewpoint - The company, Guiguan Electric Power, has demonstrated resilience and quality in growth during the "14th Five-Year Plan" period, achieving breakthroughs in performance and capital operations while focusing on technological innovation and shareholder returns [2]. Group 1: Performance and Dividends - The company has shown a strong performance in both operational results and dividend distribution, benefiting from improved water inflow and efficient management [2]. - From 2022 to 2024, the company plans to distribute a dividend of 0.2 yuan per share (including tax) annually, with an average dividend payout ratio of approximately 82.83% over the past three years [2]. Group 2: Power Generation Capacity - As of mid-2025, the company has an installed capacity of 14.1777 million kilowatts, including 10.2404 million kilowatts from hydropower, 1.33 million kilowatts from thermal power, 0.9447 million kilowatts from wind power, and 1.6626 million kilowatts from solar power [3]. - The company has made significant progress in green energy construction, acquiring a total of 981,000 kilowatts of new energy construction indicators and achieving a record high in installed capacity [3]. Group 3: Capital Operations and Strategic Development - The company is strategically investing in high-quality new energy projects, with core assets like the Longtan Hydropower Station operating efficiently, achieving a daily power generation of over 100 million kilowatt-hours [3]. - The company is poised for high-quality development, leveraging its achievements from the "14th Five-Year Plan" to embark on a new journey of growth [3].

Core Viewpoint - The company, Guiguan Electric Power, has demonstrated resilience and quality in growth through technological innovation and shareholder returns during the "14th Five-Year Plan" period, showcasing its strength as a leading hydropower enterprise [1] Performance and Dividends - Guiguan Electric Power has shown steady operational performance, benefiting from improved water inflow and refined management, with a consistent annual dividend of 0.2 yuan (including tax) per share from 2022 to 2024 [1] - The company has implemented a mid-year and annual dividend strategy starting in 2023, with an average dividend payout ratio of approximately 82.83% over the past three years, reflecting the resilience of its operating cash flow [1] Capacity and Generation - As of mid-2025, Guiguan Electric Power has an installed capacity of 14.1777 million kilowatts, including 10.2404 million kilowatts from hydropower, 1.33 million kilowatts from thermal power, 0.9447 million kilowatts from wind power, and 1.6626 million kilowatts from solar power [1] Green Energy Initiatives - The company has actively promoted the construction of green and clean energy, achieving a cumulative new energy construction target of 981,000 kilowatts and a record high of 879,700 kilowatts in production capacity [2] - Through project optimization and a framework procurement model, the company has successfully reduced the unit cost of wind and solar power, achieving both qualitative improvements and reasonable quantitative growth [2] Capital Operations - Guiguan Electric Power has strategically invested in high-quality new energy projects, with core assets like the Longtan Hydropower Station operating efficiently, achieving a daily generation capacity that once exceeded 100 million kilowatt-hours [2] - The company is poised for high-quality development, leveraging its achievements from the "14th Five-Year Plan" to embark on a new journey [2]

Core Insights - The electricity sector experienced a slight increase of 0.03% on the trading day, with Min Dong Power leading the gains [1] - The Shanghai Composite Index closed at 3897.71, down 0.42%, while the Shenzhen Component Index closed at 13056.7, down 0.68% [1] Stock Performance - Min Dong Power (000993) closed at 12.67, up 3.68% with a trading volume of 442,700 shares and a transaction value of 556 million [1] - Other notable gainers included ST Lingda (300125) with a 3.43% increase, and Zhongmin Energy (600163) with a 3.04% increase [1] - Conversely, Tianfu Energy (600509) saw a decline of 3.78%, and Shanghai Electric (600021) fell by 3.56% [2] Capital Flow - The electricity sector saw a net outflow of 757 million from institutional investors, while retail investors contributed a net inflow of 842 million [2] - The capital flow data indicates that retail investors were more active in the market compared to institutional investors [2] Individual Stock Capital Flow - Huadian New Energy (600930) had a net inflow of 193 million from institutional investors, while it experienced a net outflow of 12 million from speculative funds [3] - Jiangsu Guoxin (002608) reported a net inflow of 13 million from institutional investors, but a net outflow of 4 million from speculative funds [3] - Overall, the data suggests a mixed sentiment among different types of investors within the electricity sector [3]

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个别及连带责任。 广西桂冠电力股份有限公司（以下简称"公司"）分别于2025年6月23日召开第十届董事会第十一次会 议、2025年7月9日召开的2025年第二次临时股东大会，审议通过了《关于公司2025年度续聘会计师事务 所的议案》，同意聘请天职国际会计师事务所（特殊普通合伙）（以下简称"天职国际"）为公司2025年 度财务审计机构。具体内容详见公司于2025年6月24日在上海证券交易所网站披露的《关于续聘会计师 事务所的公告》（编号：2025-024）。 近日，公司收到天职国际出具的《关于更换签字会计师的告知函》，现将具体情况公告如下： 一、本次签字会计师变更的基本情况 天职国际作为公司2025年度财务审计机构，原指派李晓阳、梁杰为项目签字注册会计师，因天职国际内 部工作调整，天职国际拟将签字注册会计师梁杰变更为蒋樟桦，变更后，公司2025年度审计的签字注册 会计师为李晓阳、蒋樟桦。 签字注册会计师蒋樟桦近三年不存在因执业行为受到刑事处罚，受到证监会及其派出机构、行业主管部 门的行政处罚、 ...

股票代码：600236 股票简称：桂冠电力 编号:2025-042 广西桂冠电力股份有限公司 关于更换签字会计师的公告 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个别及连带责任。 广西桂冠电力股份有限公司（以下简称"公司"）分别于 2025 年 6 月 23 日召开第十届董事会第十一次会议、2025 年 7 月 9 日召开的 2025 年第二次临时股东大会，审议通过了《关于公司 2025 年度续聘 会计师事务所的议案》，同意聘请天职国际会计师事务所（特殊普通合 伙）（以下简称"天职国际"）为公司 2025 年度财务审计机构。具体内 容详见公司于 2025 年 6 月 24 日在上海证券交易所网站披露的《关于 续聘会计师事务所的公告》（编号：2025-024）。 近日，公司收到天职国际出具的《关于更换签字会计师的告知函》， 现将具体情况公告如下： 一、本次签字会计师变更的基本情况 天职国际作为公司 2025 年度财务审计机构，原指派李晓阳、梁杰 为项目签字注册会计师，因天职国际内部工作调整，天职国际拟将签 字注册会计师梁杰变更为蒋樟桦 ...

Core Insights - The report highlights the growth and challenges in China's hydropower industry, with a significant increase in hydropower generation in September 2025 compared to the previous year, indicating a year-on-year growth of 31.9% [1] - Cumulative hydropower generation from January to September 2025 shows a slight decline of 1.1% compared to the same period in the previous year, suggesting potential fluctuations in the market [1] Company Overview - Listed companies in the hydropower sector include: Changjiang Electric Power (600900), Huaneng Hydropower (600025), Guotou Power (600886), Chuan Investment Energy (600674), Guiguan Electric Power (600236), Qianyuan Electric Power (002039), Hubei Energy (000883), Mindong Electric Power (000993), Leshan Electric Power (600644), and Chenzhou International (600969) [1] Market Analysis - According to the National Bureau of Statistics, the hydropower generation in China reached 158.9 billion kilowatt-hours in September 2025, reflecting a robust performance in the sector [1] - The cumulative hydropower output for the first nine months of 2025 was 997.05 billion kilowatt-hours, indicating a need for further analysis on the factors contributing to the decline in cumulative output [1]

证券日报网讯桂冠电力11月27日在互动平台回答投资者提问时表示，公司股东人数会按照相关规定在定 期报告中披露。除定期报告外，其他时点股东人数属于非强制性披露内容。 （文章来源：证券日报） ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600236 证券简称：桂冠电力 公告编号：2025-041 广西桂冠电力股份有限公司 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12月03日（星期三）09:00-10:00 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26日（星期三）至12月02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ggep600236@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。 （二）投资者可于2025年11月26日（星期三）至12月02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（https://roadshow.sseinfo.com/preCallQa），根据活动时间， ...

证券代码：600236 证券简称：桂冠电力 公告编号：2025-041 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： https://roadshow.sseinfo.com/） 广西桂冠电力股份有限公司（以下简称公司）已于 2025 年 10 月 31 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入 地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 12 月 03 日（星期三）09:00-10:00 举行 2025 年第三季度业绩说 明会，就投资者关心的问题进行交流。 一、说明会类型 会议召开时间：2025 年 12 月 03 日（星期三）09:00-10:00 会议召开地点：上海证券交易所上证路演中心（网址： 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 26 日（星期三）至 12 月 02 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 gg ...

Group 1 - The core viewpoint of the article highlights the growth trend in the number of bidding projects in China's hydropower industry from 2020 to 2025, with a projected total of 2,291 projects in 2024 and 2,640 projects in the first nine months of 2025 [2][4] - The main entities involved in bidding projects in the hydropower sector are other general enterprises and state-owned enterprises, with 6,464 projects (49%) attributed to general enterprises and 5,576 projects (42%) to state-owned enterprises as of September 2025 [4] - Yunnan Province is identified as the second-largest hydropower resource province in China, with a total hydropower resource capacity of 104 million kW and a potential installed capacity of 97.95 million kW, accounting for approximately 25% of the national total [7] Group 2 - The total water resources in Yunnan Province have shown fluctuations from 2017 to 2024, with a total of 176.039 billion cubic meters reported in 2024, reflecting a year-on-year increase of 17.2% [8] - As of the end of 2024, Yunnan Province's total installed capacity reached 15.188 million kW, with hydropower accounting for 8.36 million kW, representing 55% of the total capacity [11] - The hydropower generation figures for major companies in Yunnan include 6.698 billion kWh from Guotou Power and 6.173 billion kWh from Datang Power [11]