股票代码：600505 股票简称：西昌电力 编号：2025-061 四川西昌电力股份有限公司 关于预计 2026 年度日常关联交易的公告 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： ●本次关联交易事项尚需提交公司股东会审议 ●本次关联交易属于公司正常生产经营行为，交易内容具体、连续，不影响 公司的独立性，符合公司及全体股东的利益。 一、日常关联交易基本情况 | | 2025 年计划 | 2025 年 | 1-10 | | --- | --- | --- | --- | | 企业名称 | | | | | | 金额（不含税） | 月实际金额（不含 | | 1 | | | 税）（注 1） | | --- | --- | --- | | 国网四川省电力公司凉山供电公司 | 71,000.00 | 44,609.39 | | 四川省水电投资经营集团普格电力有 | 800.00 | 321.80 | | 限公司 | | | | 四川省水电集团金阳电力有限公司 | 1,200.00 | 1089.86 | | 合计 | ...

每经头条（nbdtoutiao）——地产"优等生"受困20亿元到期债务，首次债务展期仍在博弈，明年还有超 百亿元公开债到期 （记者 王晓波） 2024年1至12月份，西昌电力的营业收入构成为：水电行业占比95.23%，光伏新能源占比3.09%，电力 工程占比1.03%，其他业务占比0.51%，工程设计占比0.13%。 截至发稿，西昌电力市值为47亿元。 每经AI快讯，西昌电力（SH 600505，收盘价：12.85元）12月23日晚间发布公告称，公司第八届第六十 五次董事会会议于2025年12月23日以通讯方式召开。会议审议了《关于召开2026年第一次临时股东会的 议案》等文件。 ...

证券代码：600505 证券简称：西昌电力 公告编号：2025-062 四川西昌电力股份有限公司 关于召开2026年第一次临时股东会的通知 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： 一、 召开会议的基本情况 (一) 股东会类型和届次 2026年第一次临时股东会 召开的日期时间：2026-01-08 9 点 30 分 召开地点：四川省西昌市胜利路 66 号公司办公大楼 6 楼会议室 (五) 网络投票的系统、起止日期和投票时间。 股东会召开日期：2026年1月8日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2026 年 1 月 8 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者 的投票，应按照《上海证券交易所上市公司自律监管指引第 1 号 — 规范运 作 ...

股票代码：600505 股票简称：西昌电力 编号：2025-059 四川西昌电力股份有限公司 第八届董事会第六十五次会议决议公告 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： 一、董事会会议召开情况 四川西昌电力股份有限公司（以下简称"公司"）第八届董事会第六十五次会 议于2025年12月23日以通讯方式召开，会议通知和会议资料已于12月15日以电子 邮件的方式向各位董事发出。会议由董事长张劲主持，应出席董事12名，实际出 席董事12名，分别是：张劲、朱国政、何云、刘涤尘、穆良平、何真、张凌、冷 继伟、佟如意、杨晓玲、贾巴书土、杨鹏。会议的召开符合《公司法》和《公司 章程》的有关规定。 二、董事会会议审议情况 （一）审议通过了《关于补选第八届董事会非独立董事的议案》 本议案在提交董事会审议前，公司董事会提名委员会根据董事的任职条件， 对董事候选人员进行资格审查，审议通过该议案。本议案尚需提交公司股东会审 议。 详见公司同日发布于《中国证券报》《上海证券报》《证券日报》《证券时 ● 全体董事均出席本次董事会会议 ...

Core Viewpoint - In 2025, the number of A-share listed companies controlled by seven major state-owned enterprises in the power sector will increase to 37, with an average of more than five companies per enterprise, following the listings of Huadian New Energy and Southern Network Digital on the Shanghai and Shenzhen stock exchanges [1] Group 1: Company Listings - The number of A-share listed companies controlled by major state-owned enterprises will rise to 37, with State Grid and China Huadian having the most at 7 each [1] - Southern Power Grid's number of listed companies increased to 4 with the listings of Southern Network Technology and Southern Network Digital [1] Group 2: Management Changes - In 2025, there will be significant management changes among the listed companies controlled by the two networks and five major power generation companies, with 131 high-level personnel changes reported across 30 listed companies [1] - Specifically, there were 12 changes in chairpersons and 8 changes in general managers among the listed companies [1] Group 3: Individual Company Changes - State Grid: 36 personnel changes across 7 listed companies, including chairperson and general manager adjustments in four companies [5] - China Huadian: 34 personnel changes across 6 listed companies, with significant changes in chairpersons and general managers in three companies [58] - China Huaneng: 24 personnel changes across 4 listed companies, with new general managers appointed in three companies [38] - National Energy Group: 20 personnel changes across 5 listed companies, including chairperson and general manager changes in three companies [86]

Core Viewpoint - Xichang Electric Power's stock price has shown fluctuations with a year-to-date increase of 7.37%, while recent trading days have seen a decline of 2.70% [2] Group 1: Stock Performance - As of December 19, Xichang Electric Power's stock price rose by 2.05% to 12.97 CNY per share, with a total market capitalization of 4.728 billion CNY [1] - The stock has experienced a net outflow of 388,400 CNY in principal funds, with large orders accounting for 10.40% of total purchases and 11.71% of total sales [1] - Over the past 20 days, the stock has increased by 5.28%, while it has decreased by 1.52% over the last 60 days [2] Group 2: Company Overview - Xichang Electric Power, established on June 18, 1994, and listed on May 30, 2002, is primarily engaged in the production and development of electric power products and related equipment [2] - The company's revenue composition is as follows: hydropower industry 95.98%, photovoltaic new energy 1.73%, electric power engineering 1.54%, others 0.60%, and engineering design 0.15% [2] - The company operates within the public utility sector, specifically in electric power and comprehensive energy services, and is involved in various concept sectors including wind energy and solar power [2] Group 3: Financial Performance - For the period from January to September 2025, Xichang Electric Power reported a revenue of 1.147 billion CNY, reflecting a year-on-year growth of 9.04% [3] - The net profit attributable to shareholders reached 12.3594 million CNY, marking a significant increase of 149.66% year-on-year [3] Group 4: Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 18.33% to 48,300, while the average circulating shares per person increased by 22.44% to 7,543 shares [3] - The company has distributed a total of 250 million CNY in dividends since its A-share listing, with 25.5197 million CNY distributed over the past three years [4] - Among the top ten circulating shareholders, Xichang Electric Power has a new shareholder, Western Benefit Central Enterprise Preferred Stock A, holding 470,600 shares [4]

Investment Rating - The report maintains a "Buy" rating for the public utility sector [5] Core Views - The report emphasizes the importance of green electricity consumption and solid waste management in the context of the "dual carbon" goals set for 2026, suggesting a focus on the green electricity sector for potential valuation recovery [4][8] - The report highlights the ongoing decline in electricity prices and the need for adjustments in the installation rhythm of new green electricity projects based on regional supply and demand [4][3] - The report suggests that the electricity market reform is progressing, with a focus on expanding the electricity spot market and auxiliary services, while also noting the transformation of thermal power's functional positioning [4] Summary by Sections Market Review - The SW public utility sector experienced a slight decline of 0.09% this week, ranking 11th among 31 SW sectors, while the Shanghai Composite Index fell by 0.34% [23] - Among sub-sectors, thermal power increased by 0.22%, while hydropower decreased by 0.26% [23] - The top five performing stocks in the public utility sector this week were: Jiaze New Energy (+9.71%), Yinxing Energy (+8.58%), Zhongtai Co. (+7.79%), Xichang Power (+5.38%), and Chenzhou International (+4.14%) [29] Price Updates - The report notes a significant drop in thermal coal prices, with Qinhuangdao port's 5500 kcal thermal coal price decreasing by 39 CNY/ton this week [2][9] - The average settlement price for electricity in Guangdong was reported at 292.88 CNY/MWh, down from 354.64 CNY/MWh the previous week [10] Key Events - Various provinces have begun releasing results for the "136" document's incremental project bidding, with significant volumes of green electricity being auctioned at varying prices [3][7] - The Central Economic Work Conference reiterated the commitment to the "dual carbon" goals, emphasizing the need for a comprehensive green transition and the expansion of green electricity applications [8]

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]

Core Viewpoint - Sichuan Xichang Electric Power Co., Ltd. has experienced fluctuations in stock price and trading volume, with a notable decline in recent trading days, while showing a year-to-date increase in stock price [1][2]. Company Overview - Sichuan Xichang Electric Power was established on June 18, 1994, and listed on May 30, 2002. The company is primarily engaged in the production and development of electric power products and related equipment [2]. - The main business revenue composition includes hydropower industry (95.98%), photovoltaic new energy (1.73%), electric power engineering (1.54%), and others [2]. Financial Performance - For the period from January to September 2025, the company achieved operating revenue of 1.147 billion yuan, representing a year-on-year growth of 9.04%. The net profit attributable to the parent company was 12.3594 million yuan, showing a significant year-on-year increase of 149.66% [2]. - The company has distributed a total of 250 million yuan in dividends since its A-share listing, with 25.5197 million yuan distributed in the last three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders was 48,300, a decrease of 18.33% from the previous period. The average circulating shares per person increased by 22.44% to 7,543 shares [2]. - The top ten circulating shareholders include a new shareholder, Western Benefit Central Enterprise Preferred Stock A, holding 470,600 shares [3]. Market Activity - The stock price of Xichang Electric Power has increased by 11.26% year-to-date, but it has seen declines of 5.95% over the last five trading days, 2.47% over the last 20 days, and 6.34% over the last 60 days [1]. - The company has appeared on the trading leaderboard five times this year, with the most recent appearance on May 23, where it recorded a net buy of -93.9295 million yuan [1].

Group 1 - The core viewpoint of the news is that Xichang Electric Power's stock has experienced fluctuations, with a recent decline of 2.03% and a year-to-date increase of 15.89% [1] - As of November 12, the stock price is reported at 14.00 yuan per share, with a total market capitalization of 5.104 billion yuan [1] - The company has seen a net outflow of 16.443 million yuan in principal funds, with significant selling pressure in large orders [1] Group 2 - Xichang Electric Power, established on June 18, 1994, primarily engages in the production and development of electric power products, with 95.98% of its revenue coming from the hydropower sector [2] - The company reported a revenue of 1.147 billion yuan for the first nine months of 2025, reflecting a year-on-year growth of 9.04%, and a net profit of 12.3594 million yuan, up 149.66% year-on-year [2] - The company has a total of 48,300 shareholders as of September 30, 2025, with a decrease of 18.33% from the previous period [2] Group 3 - Xichang Electric Power has distributed a total of 250 million yuan in dividends since its A-share listing, with 25.5197 million yuan distributed in the last three years [3] - As of September 30, 2025, the top ten circulating shareholders include a new shareholder, Western Benefit Central Enterprise Preferred Stock A, holding 470,600 shares [3]