证券之星消息，截至2025年6月19日收盘，申能股份(600642)报收于8.82元，上涨0.46%，换手率0.47%，成交量22.77万手，成交额2.0亿元。 6月19日的资金流向数据方面，主力资金净流出763.41万元，占总成交额3.82%，游资资金净流入917.97万元，占总成交额4.59%，散户资金净流出 154.56万元，占总成交额0.77%。 近5日资金流向一览见下表： | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净齿火 散户净流入 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-06-19 | 8.82 0.46% | -763.41万 | -3.82% | 917.97万 | 4.59% | -154.56万 | - -0.77% | | 2025-06-18 | 8.78 0.23% | · 29.77万 | 0.19% | 315.16万 | 2.06% | -344.94万 | -2.25% | | 2025-06-17 | 8.76 1.04% | 791.61万 | ...

Summary of Shenneng Co., Ltd. Conference Call Company Overview - Shenneng Co., Ltd. operates in the energy sector with a diversified energy structure, where coal power accounts for approximately 20% and renewable energy, particularly wind power, has a significant share [2][3][6]. Key Points Business Segments - The company has two main business segments: electricity and oil & gas. In the electricity segment, coal power accounts for less than 50%, natural gas power for 15-20%, and the remainder is renewable energy, with a high proportion of wind power [3][6]. - The oil & gas segment focuses on resources in East China, South China, and Xinjiang, with ongoing exploration and development activities [4]. Renewable Energy Projects - The Hainan CD2 Phase I 600,000 kW offshore wind project has been connected to the grid in Q1 2025. Future large-scale renewable energy investments are planned in Xinjiang, Hainan, and Shanghai, with an estimated investment of about 130 billion yuan over the next five years, of which 20% will be equity [2][7]. - The company plans to add 2.8 to 3 GW of new installed capacity in 2025, excluding the Shanghai offshore photovoltaic and Xinjiang onshore wind projects [20]. Financial Performance - The coal procurement structure consists of approximately 70% long-term contracts and 30% market coal, with a slight increase in market coal this year. The price of coal for the company's controlled enterprises is between 850-870 yuan per ton, reflecting a year-on-year decrease of about 10% [9][10]. - The company reported stable performance in the electricity segment, with no losses in 2025, and improved profitability due to declining coal prices [17]. Capital Expenditure and Investment Strategy - The capital expenditure for 2025 is primarily focused on two projects in Xinjiang: 2 GW of photovoltaic and 1.35 GW of wind power, along with a 500,000 kW offshore photovoltaic project in Shanghai [10][21]. - The company aims to maintain a dividend payout ratio of 55-60%, with dividends expected to be distributed in mid-July 2025 [7]. Market Conditions and Pricing - The electricity price in the Shanghai region is relatively stable, with limited impact from the opening of the spot market due to stable supply and demand [11][12]. - The offshore photovoltaic project in Shanghai is expected to have a construction cost of about 7 yuan per watt, which is competitive compared to other projects [14]. Future Outlook - The company anticipates that the renewable energy projects in Xinjiang, Hainan, and Shanghai will attract investor interest due to favorable electricity pricing [19]. - The overall investment return rate for large-scale projects is expected to be competitive, with an average capital return rate of around 6.5% and total investment return rates potentially reaching 8-9% [26]. Additional Insights - The company has diversified its financial investments, holding approximately 2 billion yuan in secondary market financial stocks, including shares in major banks and ETFs [5]. - The company is also exploring opportunities in traditional power generation, biomass energy, and hydropower projects to ensure energy security and meet public demand [22].

Core Points - The Shanghai Energy Conservation Promotion Week will take place from June 23 to June 29, 2025, focusing on the theme "Energy Saving and Efficiency Improvement, Leading with 'New'" [1] - The event will feature approximately 400 green-themed activities across various sectors, including green home appliances, home decoration, 3C digital products, and new energy vehicles, aiming to create the "Green Movement in Shanghai" brand [1][4] Group 1 - The event will adopt a collaborative model involving government, enterprises, and public participation, with various activities organized by different government departments [2][3] - Notable companies such as Sheneng Group, SAIC Motor, Shanghai Bank, and Nippon Paint have been recognized as "Green and Low-Carbon Partners" during the event [2][3] - The Shanghai Municipal Economic and Information Commission will launch a "Media Open Week" to report on the latest achievements in the green and low-carbon sector [3] Group 2 - Activities will include a "trade-in" program for home appliances and furniture, with online and offline subsidies to encourage the replacement of old items [3][4] - Companies like Suning and Ele.me will offer significant discounts and subsidies for green services and products, with Suning providing up to 50% off on various services [4] - The event will also feature a series of community-focused activities, such as "Green Passport" initiatives and low-carbon knowledge competitions [7][8] Group 3 - Each district in Shanghai will host unique energy conservation activities, such as family workshops, interactive quizzes, and cultural performances to engage the community [8] - The event aims to promote green living and energy-saving practices among citizens through various engaging and educational activities [8]

Investment Rating - The report maintains a positive investment rating for the power and utilities sector, with specific recommendations for companies such as Funiu Co., Ltd. and Shenneng Co., Ltd. [3][21] Core Insights - The power sector outperformed the broader market, with the utilities sector index closing at 2382.43 points, up 0.26%, and the electricity sub-sector index at 3173.29 points, down 0.25% [1][9] - The commissioning of the Hami-Chongqing ±800 kV UHVDC project significantly enhances power supply capabilities in Chongqing, providing approximately 36 billion kWh annually, which accounts for about 20% of the city's annual electricity demand [2][24] - The establishment of the world's first offshore wind-powered data center in Shanghai aims to support AI and 5G computing needs while promoting low-carbon energy solutions [2][32] Summary by Sections Weekly Market Review - The electricity sector showed resilience with a slight decline in the electricity sub-sector, while thermal power benefited from falling coal prices, leading to improved performance expectations [1][20] - The report highlights the performance of various electricity sub-sectors, noting a decline in photovoltaic generation by 1.79% and an increase in hydropower generation by 1.03% [1][14] Industry Data Tracking - The report tracks coal prices, which have seen a slight decrease, indicating a favorable environment for thermal power generation [35] - The report also provides insights into the performance of renewable energy sources, with significant growth in wind and solar installations in Xinjiang, which now account for over 54% of the total installed capacity [25][26] Investment Recommendations - The report recommends focusing on companies with stable earnings and growth potential, particularly in thermal power and hydropower sectors, while also highlighting opportunities in renewable energy and data center integration [3][21] - Specific companies recommended include Funiu Co., Ltd., Shenneng Co., Ltd., and China Nuclear Power, with cautious recommendations for China General Nuclear Power [3][22]

Core Viewpoint - Chinese enterprises are increasingly viewing the "dual carbon" goal as an opportunity for competitive advantage, actively building a "green moat" to prepare for future competition as they approach the carbon peak target in five years [1][2][3] Group 1: Industry Developments - The 2025 Shanghai International Carbon Neutral Technology, Products, and Achievements Expo showcased over 300 companies, highlighting a significant shift towards proactive engagement in carbon neutrality [1] - Shanghai's green methanol project, presented by Sheneng Group, is expected to meet a demand of 400,000 to 500,000 tons per year for green methanol fueling at the world's largest container port [1] - The "14th Five-Year Plan" emphasizes the green transformation of Shanghai's international shipping center, focusing on green energy manufacturing and green shipping supply [1] Group 2: Technological Innovations - Ying Carbon Technology, a subsidiary of Hebei Steel Group, introduced the WesCarber carbon neutrality digital platform, which has served over 200 industrial enterprises since its launch [2] - The platform integrates artificial intelligence and aims to meet the increasing demand for carbon management solutions as the steel industry enters the national carbon trading market in 2025 [2] Group 3: ESG Trends - International ESG regulations are becoming stricter, with leading companies establishing dynamic policy tracking mechanisms and integrating ESG compliance into their strategic planning [3] - There is a growing preference among international investors for companies that perform well on ESG-related indices, influencing corporate credit ratings [3] - The shift from "I have to reduce emissions" to "I want to reduce emissions" reflects a broader recognition among Chinese enterprises of their responsibility in addressing global climate challenges while seizing opportunities in the green industry [3]

Group 1: Carbon Neutrality Expo Highlights - The 2025 Shanghai International Carbon Neutral Technology, Products and Achievements Expo showcased advancements in controllable nuclear fusion, superconducting cables, and AI applications by major state-owned enterprises [1] - Companies like State Grid, China Electrical Equipment Group, and Shanghai Electric presented their technological achievements to support the "dual carbon" goals [1] Group 2: Developments in Controllable Nuclear Fusion - Controllable nuclear fusion, known as "artificial sun," is viewed as an ideal future energy source due to its abundant fuel resources and environmental friendliness [2] - Shanghai Electric has been involved in fusion projects since around 2000 and has become a leading supplier of core equipment for fusion systems in China [2] - The company has participated in significant projects such as the BEST project, ITER, EAST, CRAFT, HH70, and EXL-50, establishing advanced manufacturing capabilities in special materials and precision welding [2] Group 3: Superconducting Cable Innovations - The State Grid showcased the world's first large-scale superconducting cable project in an urban area, which operates at a capacity of 133.6 MVA, setting a record for commercial superconducting transmission [3] - This superconducting cable can replace 4 to 6 traditional cables, saving 70% of underground space and reducing energy loss by approximately 760,000 kWh, equivalent to 304 tons of standard coal and 761 tons of CO2 emissions [3] - The project aims to maximize land resource utilization in urban centers and promote the application of superconducting technology [3] Group 4: Advancements in Superconducting Reactors - The innovative superconducting reactor design eliminates traditional noise sources, achieving noise levels below 50 decibels, thus meeting urban environmental standards [4] - The reactor's low magnetic leakage minimizes interference with surrounding communication devices and can be seamlessly integrated into existing power station systems [4] Group 5: AI and Green Energy Initiatives - China Energy Construction Group is integrating AI with energy production, transmission, storage, and consumption to enhance efficiency through optimized energy planning and scheduling [5] - The company has developed a carbon management platform that monitors energy and carbon flows, providing customized carbon management services [5] - Sheneng Group is advancing renewable energy projects, including offshore wind power and flexible coal power generation, while also engaging in green electricity trading [6]

Group 1 - The liquidity of the green power ETF showed a turnover of 3.17% with a transaction volume of 10.83 million yuan, and the average daily transaction volume over the past month reached 19.32 million yuan [3] - The green power ETF experienced a significant growth in scale, increasing by 65.56 million yuan over the past three months, ranking first among comparable funds [3] - The green power ETF's share increased by 2 million shares in the past week, also ranking first among comparable funds [3] Group 2 - The price-to-earnings ratio (PE-TTM) of the index tracked by the green power ETF is currently 18.62 times, which is below 85.71% of the historical data over the past three years, indicating a historical low valuation [3] - The top ten weighted stocks in the National Green Power Index account for 58.12% of the total, including major companies such as Yangtze Power, China Nuclear Power, and Three Gorges Energy [3] Group 3 - The recent policy notification regarding the orderly promotion of green electricity direct connection is the first national-level policy to permit and regulate green electricity direct connection, which aims to facilitate the consumption of renewable energy and reduce costs for end users [4] - The green electricity direct connection projects will require investors to bear transmission and distribution costs, but can also lower operational costs by reducing grid connection capacity requirements [4] - Investors can leverage the corresponding green power ETF linked fund (017057) to seize investment opportunities in this sector [4]

"申能股份高度重视股东回报。上市以来，公司坚持每年现金分红，累计分红达247亿元，体现了国有上 市公司的主体责任和担当。"华士超介绍。 新华文轩董事长周青表示，公司上市以来一直保持着稳定的增长态势，总资产、净资产、营业收入、利 润总额、扣非归母净利润的年复合增长率分别达8.87%、8.62%、8.88%、11.97%和11.98%。 据悉，2016年上市以来，新华文轩每年都实施了现金分红，累计分红金额达45.04亿元。2024年，公司 拟向全体股东每10股派现金股利4.1元，共派发现金股利5.06亿元。 ◎记者 何昕怡 "2024年，广州发展资产规模、营业收入、利润总额均保持增长态势，归母净利润连续3年创历史新高， 天然气、新能源、储能业务版图持续扩大，业务板块全面盈利。"广州发展董事长蔡瑞雄称。 6月5日，2024年沪市主板高分红重回报专题集体业绩说明会在上证路演中心举行。兖矿能源、申能股 份、广州发展、新华文轩等4家上市公司高管集体亮相，通过分享现金分红情况、ESG建设进展，多维 度传递企业发展的强劲动力和韧性。 现金分红热情持续高涨 高分红、强回报，一直是沪市公司的亮眼标签。此次业绩说明会上，4家公司亦 ...

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申能股份有限公司 第四十六次（2024 年度） 股东大会文件 二〇二五年六月二十日 申能股份第四十六次（2024 年度）股东大会文件 关于续聘大华会计师事务所（特殊普通合伙）为公司 2025 年度财务 关于续聘大华会计师事务所（特殊普通合伙）为公司 2025 年度内部 关于公司向银行间交易商协会申请统一注册发行非金融企业债务融 申能股份第四十六次（2024 年度）股东大会文件 股东大会须知 一、本次股东大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。股东通过上海证券交易所股东大会网络投票系统行使 表决权的，既可以登陆交易系统投票平台（通过指定交易的证券 公司交易终端）进行投票，也可以登陆互联网投票平台（网址： vote.sseinfo.com）进行投票。 二、股东通过上海证券交易所股东大会网络投票系统行使表决权， 如果其拥有多个股东账户，可以使用持有公司股票的任一股东账 户参加网络投票。投票后，视为其全部股东账户下的相同类别普 通股或相同品种优先股均已分别投出同一意见的表决票。 三、同一表决权通过现场、上海证券交易所网络投票平台重复进 行表决的，以第一次投票结果为准。 四、股东对所有议案均表决完毕才能 ...