Core Viewpoint - The article highlights the significant contributions of Shi Ying, the chief engineer of Beijing Thermal Engineering Design Co., in advancing smart heating technology and promoting green transformation in the heating industry [3][4][5]. Group 1: Technological Innovation - Beijing's heating industry has undergone four technological leaps, with Shi Ying playing a crucial role in the heat metering transformation task [4]. - A notable achievement is the utility model patent for a heating system that connects municipal heating networks with independent boiler rooms, aimed at achieving multi-source collaborative operation [4]. - The project has established optimal interconnection schemes and a trading guide for multi-source heating systems in Beijing, supporting the integration of renewable and traditional energy sources [4]. Group 2: Smart Heating Quality Improvement - As a core member of Beijing's smart heating task force, Shi Ying emphasizes the importance of technological innovation in enhancing heating system efficiency and resident comfort [5]. - An example of smart heating application is the transformation of a community boiler room, which reduced temperature deviation from approximately 4°C to around 1°C, significantly improving system balance [5]. - The implementation of AI in the project led to a 16% reduction in gas consumption, a 90% reduction in water usage, and a decrease of 1,821 tons in annual CO2 emissions [5]. Group 3: Project Management and Collaboration - Team collaboration is essential in Shi Ying's daily work, exemplified by a project where the team worked late to prepare a comprehensive smart heating plan for Jingneng Group [6]. - Shi Ying played a pivotal role in drafting the core sections of the report, showcasing the importance of teamwork in achieving project goals [6]. Group 4: Green Heating Initiatives - Since the implementation of smart heating pilot projects in 2022, Jingneng Group has completed over 70% of the tasks in Beijing, establishing itself as a leader in smart heating transformation [7]. - The design company has developed tailored technical routes for smart heating based on varying foundational conditions and energy consumption levels [7]. - Future research in the heating industry will focus on safety, intelligence, greenness, and low carbon, with a goal to build a robust, smart, environmentally friendly heating network [7][8].

Core Viewpoint - The report highlights a decline in China's thermal power generation, with a projected decrease in output for 2025 compared to previous years, indicating potential challenges for the industry [1]. Industry Summary - According to the National Bureau of Statistics, the thermal power generation output in December 2025 is expected to be 581.2 billion kilowatt-hours, representing a year-on-year decrease of 3.2% [1]. - The cumulative thermal power generation output for the entire year of 2025 is projected to be 6,294.55 billion kilowatt-hours, reflecting a cumulative decline of 1% [1]. - The report is part of a comprehensive market survey and investment potential research for the thermal power industry in China from 2026 to 2032, published by Zhiyan Consulting [1].

Investment Rating - The report maintains a "Buy" rating for the public utility sector [6] Core Insights - The commercial model of the power sector is continuously transforming, with a reduced reliance on annual long-term contracts for electricity and prices. The sector is shifting towards mid-to-long-term markets, spot markets, and capacity markets, indicating a comprehensive push for marketization [19][3] - The capacity price mechanism is being refined, with the aim to optimize the electricity market and ensure fair compensation reflecting the contributions of different power plants to peak demand [15][3] - The report highlights the importance of capacity market development, with current subsidies in Gansu and Yunnan reaching 330 RMB/kW·year, which helps offset the decline in electricity prices [19][3] Summary by Sections Market Performance - The SW public utility sector index fell by 1.66% this week, ranking 16th among 31 SW sectors. In comparison, the CSI 300 index rose by 0.08%, while the Shanghai Composite Index and Shenzhen Component Index fell by 0.44% and 1.62%, respectively [33][33] - Within sub-sectors, thermal power decreased by 2.78%, hydropower increased by 0.3%, while solar and wind power fell by 4.53% and 2.49%, respectively [33][33] Price Updates - Domestic and imported thermal coal prices have rebounded slightly, with domestic Qinhuangdao port 5500 kcal thermal coal rising by 4 RMB/ton, remaining below 700 RMB/ton. Imported coal prices also saw a slight increase [12][12] - The average clearing price for electricity in Shanxi and Guangdong has significantly increased due to cold weather, while the monthly agent purchase electricity costs are trending upwards due to rising capacity prices and the entry of renewable energy into the settlement cycle [13][12] Key Events - The National Development and Reform Commission and the National Energy Administration issued a notice to improve the capacity price mechanism for power generation, which includes optimizing compensation for coal and gas power generation [3][15] - Recent policy changes include relaxing the annual long-term contract signing ratio for coal-fired power companies and the cancellation of time-of-use electricity pricing in multiple regions [3][15] Recommendations - The report suggests focusing on national thermal power operators such as Huaneng International and Guodian Power, which are expected to maintain stable cash dividends. The profitability of thermal power is anticipated to gradually detach from coal cost dependency, shifting towards multiple influencing factors [19][3] - For long-term stable investment needs, the report recommends attention to companies like Yangtze Power, State Power Investment Corporation, and China National Nuclear Power [19][3]

（来源：千龙网） 今年的政府工作报告提出：扩大绿电应用，外调绿电规模达450亿千瓦时。市人大代表，北京能源集团 有限责任公司党委书记、董事长郭明星建议，加快北京外部输电通道建设和本地新型电力系统建设，让 北京更好用上绿电。 郭明星建议，加快新增绿电接受通道规划建设，并进一步挖掘电网存量资源潜力，对北京现有通道、升 压站进行扩容升级改造，保证输送到北京的绿电能够有效接收。此外，北京可超前谋划，以满足更大规 模绿电为目标，加快构建高韧性、高灵活性、高可再生能源渗透率的新型电力系统，为绿电安全输入和 充分消纳提供有力支撑。 用风电、光伏等可再生能源发出的绿电替代传统燃煤、燃气发电，是助力北京实现"碳达峰碳中和"目标 的关键举措。2025年，北京绿色电力占比已达到36%，绿色发展底色愈发鲜明。为保障北京绿电供应需 求，提升绿电消纳能力和电网调节能力，京能集团布局了"吉电进京""蒙电进京"等一批绿电大基地项 目，以及延庆、门头沟、河北承德等抽水蓄能电站项目，但目前依然存在进京绿电通道不足的担忧，这 也制约了北京的绿电输入。 ...

证券代码:600578 证券简称:京能电力 公告编号:2026-3 北京京能电力股份有限公司 第八届董事会第十四次会议决议公告 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个别及连带责任。 2026年1月21日，北京京能电力股份有限公司（以下简称"公司"）以专人递送或电子邮件的方式向公司 全体董事送达了第八届董事会第十四次会议通知。 2026年1月28日，公司以现场表决结合通讯表决方式召开第八届董事会第十四次会议。本次董事会应当 出席董事9人，实际出席会议人数9人。公司董事长张凤阳先生，董事、总经理杨松先生，董事周建裕先 生、孙永兴先生，独立董事赵洁女士、王志强先生出席了现场会议。董事李鹏先生、柳成亮先生，独立 董事刘洪跃先生已通过通讯表决方式进行投票表决。公司部分高级管理人员列席了会议。本次会议由公 司董事长张凤阳先生主持。会议召开符合法律法规、规范性文件及公司章程的规定，合法有效。 经会议审议并形成以下决议： 一、经审议，通过《关于聘任公司副总经理、总会计师的议案》。 同意9票，反对0票，弃权0票。 三、经审议，通过《关于审议公司 ...

（记者 曾健辉） 每经AI快讯，京能电力1月28日晚间发布业绩预告，预计2025年度实现归属于母公司所有者的净利润约 为33.07亿元~38.19亿元，与上年同期相比，将增加约15.84亿元~20.96亿元，同比增加91.9%~121.64%。 公司2025年度业绩大幅增长，主要原因一是公司紧跟国家电改步伐，积极开拓电力市场，新能源板块盈 利大幅增加；二是深化落实公司"1+3+N"市场营销快速决策机制，多措并举聚焦区域市场攻坚，实现平 均结算电价同比上涨；三是坚持"长协为主、市场为辅"的燃料采购策略，加强燃料成本管控，提高采购 议价能力，燃煤成本同比显著下降，经营业绩同比大幅增长。 每经头条（nbdtoutiao）——从极寒测试到万套装车！半固态电池今年有望搭载多款新车：各大厂商摩 拳擦掌，动力电池技术迎来迭代年 ...

关于业绩变动原因，公告说明，主要因三方面原因：一是公司紧跟国家电改步伐，积极开拓电力市场， 新能源板块盈利大幅增加；二是深化落实公司"1+3+N"市场营销快速决策机制，多措并举聚焦区域市场 攻坚，实现平均结算电价同比上涨；三是加强燃料成本管控，提高采购议价能力，燃煤成本同比显著下 降，经营业绩同比大幅增长。 （企业公告） 1月28日，京能电力发布业绩预增公告，公司预计2025年度实现归母净利润为33.07亿元至38.19亿元，同 比增长约91.90%至121.64%。 ...

Core Viewpoint - Jingneng Power (600578.SH) expects a significant increase in net profit for the year 2025, projecting a range of 3.307 billion to 3.819 billion yuan, representing an increase of approximately 91.90% to 121.64% compared to the previous year [1] Group 1: Financial Performance - The projected net profit for 2025 is between 3.307 billion and 3.819 billion yuan, which is an increase of 89.04% to 118.34% compared to the restated figure of 1.749 billion yuan from the previous year [1] - The substantial growth in performance is attributed to several factors, including the company's proactive approach in adapting to national electricity reforms and expanding its market presence in the renewable energy sector [1] Group 2: Strategic Initiatives - The company has implemented a "1+3+N" rapid decision-making mechanism for market marketing, focusing on regional market penetration, which has led to an increase in average settlement prices year-on-year [1] - The fuel procurement strategy emphasizes long-term contracts supplemented by market purchases, which has improved cost control and enhanced bargaining power, resulting in a significant decrease in coal costs compared to the previous year [1]

公司2025年度业绩大幅增长，主要原因一是公司紧跟国家电改步伐，积极开拓电力市场，新能源板块盈 利大幅增加;二是深化落实公司"1+3+N"市场营销快速决策机制，多措并举聚焦区域市场攻坚，实现平 均结算电价同比上涨;三是坚持"长协为主、市场为辅"的燃料采购策略，加强燃料成本管控，提高采购 议价能力，燃煤成本同比显著下降，经营业绩同比大幅增长。 智通财经APP讯， 京能电力(600578.SH)发布2025年年度业绩预增公告，预计2025年度实现归属于母公 司所有者的净利润33.07亿元至38.19亿元。与上年同期(法定披露数据)相比，将增加约91.90%至 121.64%。与上年同期(重述后数据： 174,928.18万元)相比，将增加89.04%至118.34%。 ...

每经AI快讯，京能电力1月28日晚间发布公告称，李刚先生因工作调动原因申请辞去公司副总经理、总 会计师、董事会秘书职务，其辞任后不再担任公司任何职务。 公司同意聘任秦磊先生为公司副总经理、总会计师，并同意指定秦磊先生代行董事会秘书职责。 （记者 胡玲） 每经头条（nbdtoutiao）——从极寒测试到万套装车！半固态电池今年有望搭载多款新车：各大厂商摩 拳擦掌，动力电池技术迎来迭代年 ...