证券代码：600483 证券简称：福能股份 公告编号：2025-019 福建福能股份有限公司 关于募集资金 2024 年度存放与实际使用情况的专项报告 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。 根据中国证券监督管理委员会（以下简称中国证监会）《上市公司监管指引第 2 号 ——上市公司募集资金管理和使用的监管要求(2022 年修订)》《上海证券交易所上市公 司自律监管指引第 1 号——规范运作》等相关规定，福建福能股份有限公司（以下简称 公司）将截至 2024 年 12 月 31 日止募集资金存放与实际使用情况专项报告如下： 一、募集资金基本情况 经中国证监会出具的《关于核准福建福能股份有限公司公开发行可转换公司债券的 批复》（证监许可〔2018〕1732 号）文件核准，并经上海证券交易所同意，本公司由主 承销商平安证券股份有限公司通过上海证券交易所系统于 2018 年 12 月 7 日采用全部向 二级市场投资者定价配售方式，向社会公众公开发行了可转换公司债券 283 万手（2,830 万张），发行价为每张人民币 100 ...

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。 福建福能股份有限公司 关于 2025 年度日常关联交易预计的公告 证券代码：600483 证券简称：福能股份 公告编号：2025-020 重要内容提示： 本关联交易事项在提交董事会审议前已经独立董事专门会议审议通过。独立董事认 为：公司因实际经营需要，与关联方发生日常关联交易，符合关联交易的相关原则，不 存在损害公司股东特别是中小股东利益的情形。同意将上述议案提交公司董事会审议。 （二）2024年度日常关联交易预计和执行情况 关联交易类 别 关联人 交易内容 2024 年预计金额 2024 年实际发生金额 向 关 联 人 购 买商品 福能物流 采购煤炭 340,000.00 227,808.52 能化集团及其子公司 采购煤炭 110,000.00 62,804.45 采购辅助材料 3,000.00 1,699.08 国能石狮及其子公司 采购辅汽 11,000.00 3,691.43 小计 464,000.00 296,003.48 接 受 关 联 人 提供劳务 能化集团及其子公司 ...

福能股份（600483）公告，2024年营业收入为145.63亿元，同比下降0.90%；归属于上市公司股东的净 利润为27.93亿元，同比增长6.47%；基本每股收益为1.07元／股，同比增长3.88%。公司拟以实施权益 分派股权登记日登记的总股本为基数，向全体股东每10股派发现金红利3.1元(含税)，合计拟派发现金红 利8.62亿元(含税)。 ...

Investment Rating - Maintain "Buy" rating for the electricity sector [3] Core Viewpoints - March electricity consumption growth was 4.8%, highlighting the importance of coal power upgrades and flexible regulation value [10][12] - The national electricity consumption in March reached 828.2 billion kWh, with a year-on-year growth of 4.8% [12] - The new three-year coal power upgrade plan emphasizes deep peak regulation and energy-saving carbon reduction [11][12] Summary by Sections Electricity Consumption - In March, the electricity consumption by industry was as follows: primary industry 10.6 billion kWh (9.9% growth), secondary industry 557.8 billion kWh (3.8% growth), tertiary industry 148.4 billion kWh (8.4% growth), and urban and rural residents 111.4 billion kWh (5.0% growth) [12][66] - Cumulative electricity consumption from January to March was 238.46 billion kWh, with a year-on-year growth of 2.5% [66] Power Generation - In March, industrial power generation was 778 billion kWh, with a year-on-year growth of 1.8% [12] - Coal power generation in March decreased by 2.3%, while hydroelectric and nuclear power generation increased by 9.5% and 23.0%, respectively [12][10] Coal Power Upgrade Plan - The new coal power upgrade plan (2025-2027) aims to enhance existing units and establish new ones with improved performance metrics [11][12] - Key upgrade indicators include minimum output levels, load change rates, and carbon emission reductions [11][12] Investment Recommendations - Focus on coal power sector opportunities, with coal prices dropping to 674 RMB/ton, supporting improved profitability [13] - Recommended stocks include Huadian International, Waneng Power, and Zhejiang Energy, among others [7]

Investment Rating - The report maintains a "Recommended" rating for several companies including Three Gorges Energy, Changjiang Electric Power, and China Nuclear Power, while providing a "Cautious Recommendation" for China General Nuclear Power and others [23][24]. Core Insights - The electricity sector outperformed the market, with the public utility sector index rising by 1.77% and the electricity sub-sector by 1.81% during the week ending April 18, 2025 [1][8]. - In Q1 2025, the National Energy Administration issued 662 million green certificates, with a total of 5.617 billion certificates issued by the end of March 2025, indicating a significant increase in green electricity trading [2][25]. - The total electricity consumption in March 2025 reached 828.2 billion kWh, a year-on-year increase of 4.8%, with notable growth in the primary and tertiary industries [3][32]. Summary by Sections Weekly Market Review - The electricity sector index closed at 2318.99 points, up 40.42 points, while the electricity sub-sector closed at 3099.51 points, up 54.97 points, outperforming the Shanghai and Shenzhen 300 index [1][8]. - The thermal power sector showed the best performance with a 2.99% increase, while solar and wind power sectors experienced slight declines [15][20]. Green Certificate Trading - The trading volume of green certificates in the southern region reached 128.9 billion kWh in Q1 2025, with a year-on-year increase of 148% [2][25]. - The market price for green certificates remains stable in the range of 1-5 yuan per certificate, influenced by production time, regional supply and demand, and power source types [2][26]. Electricity Consumption Data - In March 2025, the first industry consumed 10.6 billion kWh (up 9.9%), the second industry consumed 557.8 billion kWh (up 3.8%), and the third industry consumed 148.4 billion kWh (up 8.4%) [3][32]. - Cumulative electricity consumption for the first three months of 2025 was 2384.6 billion kWh, reflecting a year-on-year increase of 2.5% [32]. Investment Recommendations - The report suggests focusing on high-dividend stocks and those with stable performance and relatively low valuations, highlighting companies such as Funiu Co., Changjiang Electric Power, and others [21][22]. - It emphasizes the potential of wind and thermal power assets, recommending Three Gorges Energy and Funiu Co. while cautiously recommending others [22][23].

Investment Rating - Maintain "Buy" rating for the electricity sector [3] Core Viewpoints - In March, national electricity consumption growth was 4.8%, with significant growth in the internet and automotive manufacturing sectors [10][12] - The future three-year coal power upgrade action plan emphasizes the importance of coal power upgrades and flexible adjustment capabilities [11][12] Summary by Sections Electricity Consumption - In March, total electricity consumption reached 828.2 billion kWh, a year-on-year increase of 4.8%. By sector, the first, second, and third industries, along with urban and rural residents, consumed 106, 557.8, 148.4, and 111.4 billion kWh respectively, with growth rates of 9.9%, 3.8%, 8.4%, and 5.0% [12][65] - Cumulative electricity consumption from January to March was 23,846 billion kWh, up 2.5% year-on-year [12][66] Power Generation - In March, industrial power generation was 778 billion kWh, a year-on-year increase of 1.8%, with a narrowing decline in thermal power generation [12][10] - Water and nuclear power generation increased by 9.5% and 23.0% respectively, while wind and solar power generation growth slowed [12][10] Coal Power Upgrade Plan - The National Development and Reform Commission and the National Energy Administration released a new coal power upgrade action plan for 2025-2027, focusing on enhancing existing units and developing new generation units with improved performance indicators [11][12] - Key upgrade requirements include deep peak regulation, load change rates, and clean carbon reduction measures [11][12] Investment Recommendations - Emphasize investment opportunities in the electricity sector, particularly in thermal power stocks such as Huadian International, Waneng Power, and Zhejiang Energy, as well as in leading companies in thermal power upgrade equipment like Qingda Environmental Protection [6][7] - Recommend focusing on undervalued green electricity sectors, including Hong Kong-listed green electricity and wind power operators [6][7]

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - In 2024, the company is expected to achieve a net profit attributable to shareholders of 2.793 billion yuan, representing a year-on-year growth of 6.47%. For the first quarter of 2025, the estimated net profit is projected to be between 733 million yuan and 771 million yuan, indicating a year-on-year increase of 39% to 47% [2][6]. Summary by Sections Performance Overview - The company reported a significant increase in wind power generation, achieving 23.51 billion kWh in Q4 2024, a year-on-year growth of 27.97%. The total wind power generation for the year reached 60.13 billion kWh, up 9.41% year-on-year. Despite a decrease in thermal power generation due to reduced electricity demand, the company managed to improve its operational performance through cost reductions [12][12]. Q1 2025 Performance - In Q1 2025, the company continued to benefit from favorable wind conditions, generating 19.13 billion kWh of wind power, a 27.96% increase year-on-year. However, thermal power generation fell to 34.06 billion kWh, a decrease of 10.71% year-on-year. The average price of coal at Qinhuangdao Port decreased by 180.52 yuan/ton, which is expected to mitigate the pressure on thermal power performance [12][12]. Financial Projections - The company’s earnings per share (EPS) for 2024, 2025, and 2026 are projected to be 1.00 yuan, 1.04 yuan, and 1.15 yuan, respectively. The corresponding price-to-earnings (PE) ratios are expected to be 9.34, 9.02, and 8.17 [12].

证券代码：600483 证券简称：福能股份 公告编号：2025-015 福建福能股份有限公司 2025年第一季度业绩预增公告 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。 重要内容提示： 2. 预计2025年第一季度实现归属于母公司所有者的扣除非经常性损益的净利润72,360万元到76,122万 元，与上年同期（法定披露数据）相比，将增加20,069万元到23,831万元，同比增加38%到46%。 二、上年同期经营业绩和财务状况 （一）利润总额：74,716万元。归属于母公司所有者的净利润：52,637万元。归属于母公司所有者的扣 除非经常性损益的净利润：52,291万元。 （二）每股收益：0.21元。 ●经福建福能股份有限公司（以下简称公司）财务部门初步测算，预计2025年第一季度实现归属于母公 司所有者的净利润73,346万元到77,108万元，与上年同期（法定披露数据）相比，将增加20,709万元到 24,471万元，同比增加39%到47%。 ●预计2025年第一季度实现归属于母公司所有者的扣除非经常性损益的净利 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [8] Core Views - The company's first-quarter performance is expected to be strong due to improved wind power generation and reduced coal costs, despite a slight decline in electricity demand [5][11] - The company's total power generation for Q1 2025 reached 5.34 billion kWh, a year-on-year increase of 0.26%, while the on-grid electricity volume was 5.07 billion kWh, up 0.18% [5] - The company’s coal price at Qinhuangdao Port Q5500 averaged 721.22 yuan/ton in Q1, a decrease of 180.52 yuan/ton year-on-year, which is expected to positively impact operational performance [11] Summary by Sections Power Generation Performance - The company's thermal power generation was 3.406 billion kWh in Q1, down 10.71% year-on-year, with gas power down 44.88% and coal power down 3.72% [11] - The thermal power segment's main contributor, the combined heat and power generation, faced less pressure compared to gas and coal power [11] Wind Power Growth - Wind power generation increased significantly by 27.96% year-on-year, reaching 1.913 billion kWh in Q1, with offshore wind power growing by 30.95% [11] - The company’s investments in renewable energy assets in Fujian province are expected to improve alongside its controlled renewable energy performance [11] Investment and Growth Prospects - The company’s controlling shareholder initiated a buyback plan, indicating confidence in the company's long-term development [11] - The company has secured approvals for a total installed capacity of 6.07 million kW, including various thermal and wind power projects, which will enhance growth potential [11] - The company is also actively expanding into pumped storage projects, which are expected to further open up growth opportunities [11] Financial Projections - The projected EPS for 2024-2026 is 1.01, 1.05, and 1.16 yuan, with corresponding PE ratios of 9.00, 8.65, and 7.85 [11]

Financial Performance Forecast - The company expects a net profit attributable to shareholders of the parent company for Q1 2025 to be between 733.46 million and 771.08 million CNY, an increase of 207.09 million to 244.71 million CNY compared to the same period last year, representing a year-on-year increase of 39% to 47%[2] - The expected net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, is projected to be between 723.60 million and 761.22 million CNY, an increase of 200.69 million to 238.31 million CNY year-on-year, reflecting a growth of 38% to 46%[3] - The total profit for the same period last year was 747.16 million CNY, with a net profit attributable to shareholders of the parent company of 526.37 million CNY[4] - The company reported earnings per share of 0.21 CNY for the same period last year[4] Performance Drivers - The increase in performance is primarily due to better wind conditions in Fujian Province compared to the same period last year, leading to an increase in electricity generation from wind turbines and higher investment income from associated companies[6] Forecast Reliability - There are no significant uncertainties affecting the accuracy of this performance forecast[7] - The financial data provided in the performance forecast has not been audited by an accounting firm[8] - The forecast data is preliminary and the specific financial data will be subject to the official Q1 2025 report[8] Investor Awareness - The performance forecast period is from January 1, 2025, to March 31, 2025[3] - The company emphasizes the importance of investors being aware of investment risks[8]