??本次担保金额及已实际为其提供的担保余额：金开有限本次为湖北昌昊提供总 额不超过 23,000 万元的连带责任保证；金开有限本次为易县慧润提供总额不超过 ??本次担保是否有反担保：否。 ??上述对外担保逾期的累计数量：截至本公告披露日，公司及子公司实际发生的 对外担保余额为 1,669,450.56 万元（不含本次），占公司最近一期经审计归母净资产 的比例为 179.62%，无逾期对外担保事项。 ??特别风险提示：被担保人湖北昌昊和易县慧润资产负债率超过 70%，请投资者 注意相关风险。 证券代码：600821 证券简称：金开新能 公告编号：2025-053 金开新能源股份有限公司 关于子公司 2025 年 7 月提供担保的公告 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: ??被担保人及是否为上市公司关联人：担保人金开新能科技有限公司（以下简称 "金开有限"）为金开新能源股份有限公司（以下简称"公司"）的全资子公司，被担 保人湖北昌昊新能源科技有限公司（以下简称"被担保人"或"湖北昌昊"）、易县慧 润新 ...

证券代码：600821 证券简称：金开新能 公告编号：2025-052 一、增持主体的基本情况 | 增持主体名称 | 尤明杨 | | | | --- | --- | --- | --- | | 增持主体身份 | 控股股东、实控人 | 是 | 否 | | | 控股股东、实控人的一致行动人 | 是 | 否 | | | 直接持股 5%以上股东 | 是 | 否 | | | 董事、高级管理人员 其他：__________ | 是 | 否 | | 增持前持股数量 | 0 股 | | | | 增持前持股比例 （占总股本） | 0% | | | 金开新能源股份有限公司 关于公司部分董事、高级管理人员及 其他核心骨干员工自愿增持公司股份计划 暨落实"提质增效重回报"行动方案的进展公告 本公司董事会、全体董事及相关股东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： 已披露增持计划情况：金开新能源股份有限公司（以下简称"公司"） 于 2025 年 4 月 30 日披露了《金开新能源股份有限公司关于公司部分 董事、高级管理人员及其他核心骨 ...

金开新能源股份有限公司 关于子公司 2025 年 7 月提供担保的公告 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: 证券代码：600821 证券简称：金开新能 公告编号：2025-053 公司担保额度不超过 90 亿元、参股子公司担保额度不超过 2.5 亿元，对资产负债率低 于 70%的控股子公司担保额度不超过 20 亿元、参股子公司担保额度不超过 2.5 亿元。具 体内容详见公司于 2025 年 4 月 10 日在上海证券交易所披露的《关于 2025 年度担保预 计的公告》(公告编号：2025-020)。 2025 年 7 月，金开有限为湖北昌昊提供的担保共计 1 笔，连带责任保证担保金额不 超过 23,000 万元；金开有限为易县慧润提供的担保共计 1 笔，连带责任保证担保金额 不超过 38，000 万元。上述担保业务涵盖在前述担保预计额度内，且已按照授权进行审 批。详见附件 1《被担保人基本情况》和附件 2《2025 年 7 月份担保发生事项》。 二、担保的必要性和合理性 本次担保是基于公司日常经营 ...

Investment Rating - The report maintains an "Outperform" rating for the public utility and environmental sectors [1][5][8]. Core Views - The report highlights the commencement of the Yarlung Tsangpo River downstream hydropower project, with a total investment of approximately 1.2 trillion yuan, focusing on power delivery and local consumption [1][15]. - The Gansu Provincial Development and Reform Commission has proposed a capacity price mechanism for power generation, setting a standard of 330 yuan per kilowatt per year starting January 1, 2026, for compliant coal power units and new energy storage [2][17]. - The report emphasizes the potential for stable profitability in coal-fired power generation due to synchronized declines in coal and electricity prices, recommending major coal power companies [3][22]. Summary by Sections Market Review - The Shanghai Composite Index rose by 1.09%, while the public utility index fell by 1.37% and the environmental index by 0.49%, with relative returns of -2.46% and -1.58% respectively [1][14]. - In the electricity sector, coal-fired power decreased by 1.04%, hydropower by 2.13%, and new energy generation by 0.68%, while the gas sector saw a slight increase of 0.31% [1][25]. Important Policies and Events - The Yarlung Tsangpo River downstream hydropower project was officially launched on July 19, 2025, with a focus on five tiered power stations [1][15]. - The National Bureau of Statistics reported a 1.7% year-on-year increase in industrial power generation in June, with a total of 796.3 billion kilowatt-hours produced [1][16]. Investment Strategy - The report recommends several companies based on their sector performance: - Coal-fired power: Huadian International and Shanghai Electric [3][22]. - New energy: Longyuan Power and Three Gorges Energy, among others [3][22]. - Nuclear power: China Nuclear Power and China General Nuclear Power [3][22]. - Hydropower: Yangtze Power [3][22]. - Gas: China Resources Gas and Jiufeng Energy [3][22]. - Environmental: China Everbright Environment and Zhongshan Public Utilities [3][23]. Key Company Earnings Forecasts and Investment Ratings - The report provides earnings per share (EPS) and price-to-earnings (PE) ratios for various companies, all rated as "Outperform" [8]. For example, Huadian International has an EPS of 0.46 for 2024 and a PE of 11.7 [8]. Industry Key Data Overview - In June, the total industrial power generation reached 796.3 billion kilowatt-hours, with a year-on-year growth of 1.7% [1][48]. - The report notes that coal-fired power generation saw a 1.1% increase, while nuclear power generation grew by 10.3% [1][48]. Environmental Sector Insights - The report indicates that the water and waste incineration sectors are entering a mature phase, with improved free cash flow and declining risk preferences among investors [3][23]. - The domestic waste oil recycling industry is expected to benefit from the EU's SAF blending policy [3][23].

Group 1 - As of July 9, the total market financing balance reached 1.86 trillion yuan, an increase of 3.84 billion yuan from the previous trading day, marking three consecutive days of growth [1] - The financing balance for the Shanghai Stock Exchange was 932.96 billion yuan, up by 1.88 billion yuan, while the Shenzhen Stock Exchange's balance was 916.86 billion yuan, increasing by 1.96 billion yuan [1] - A total of 1,875 stocks experienced net financing inflows on July 9, with 434 stocks having net inflows exceeding 10 million yuan, and 11 stocks exceeding 100 million yuan [1] Group 2 - The top net financing inflow was seen in Zijin Mining, with a net inflow of 310 million yuan, followed by Luoyang Molybdenum and Dongshan Precision, with net inflows of 228 million yuan and 167 million yuan, respectively [2] - In terms of industry distribution, the sectors with significant net inflows included non-ferrous metals, electric equipment, and pharmaceutical biology, with three, two, and two stocks respectively [1][2] - The average ratio of financing balance to circulating market value for stocks with large net inflows was 3.28%, with Jin Kai New Energy having the highest ratio at 8.52% [2]

Core Viewpoint - The power sector has shown renewed strength, with Guiguan Electric reaching its daily limit, driven by significant increases in electricity demand in East China during the summer months [1] Group 1: Market Performance - Guiguan Electric has hit the daily limit, indicating strong investor interest and confidence in the stock [1] - Other companies in the sector, such as Huaguang Huaneng and Huayin Electric, have also shown strong performance, with Huaguang Huaneng achieving five consecutive daily limits and Huayin Electric six out of seven days [1] - Jin Kai New Energy has also reached its daily limit, reflecting a broader trend of rising stock prices in the power sector [1] Group 2: Demand Drivers - The electricity grid in East China, particularly in Jiangsu, Anhui, Shandong, Henan, and Hubei, has reached historical highs since the onset of summer [1] - Jiangsu's electricity grid load has surpassed 150 million kilowatts for the first time, with the peak load increasing by nearly 40 million kilowatts compared to the spring average [1] - Approximately 90% of the incremental load is attributed to air conditioning and cooling electricity usage, highlighting the impact of rising temperatures on electricity demand [1]

Market Overview - In June, the CSI 300 index rose by 2.50%, while the public utility index fell by 0.54% and the environmental index increased by 0.81%, with relative returns of -3.04% and -1.42% respectively [1][14] - Among the 31 primary industry sectors, public utilities and environmental sectors ranked 25th and 19th in terms of growth [1][14] - The environmental sector saw a rise of 1.08%, while within the electricity sector, thermal power decreased by 0.94%, hydropower fell by 1.76%, and renewable energy generation increased by 1.98% [1][26] Important Events - The Central Financial Committee's sixth meeting emphasized strengthening and expanding the marine industry, promoting orderly construction of offshore wind power [15] - National electricity load exceeded 1.465 billion kilowatts on July 4, marking a historical high, with a rise of approximately 200 million kilowatts since the end of June and an increase of nearly 150 million kilowatts year-on-year [15] Supply and Demand Analysis - The electricity industry has experienced three cycles of supply and demand changes since 2000, with future supply expected to increase significantly due to new thermal power units coming online and growth in renewable and nuclear power installations [2][22] - The demand side shows a decline in electricity consumption growth, particularly in high-energy-consuming industries, leading to a stabilization of overall electricity demand growth [2][23] Investment Strategy - Public Utilities: Recommendations include large thermal power companies like Huadian International and Shanghai Electric, as well as leading renewable energy firms such as Longyuan Power and Three Gorges Energy [3][24] - Nuclear power companies like China Nuclear Power and China General Nuclear Power are expected to maintain stable profitability, with a recommendation for China Power Investment Corporation as a restructuring target [3][24] - In the water and waste incineration sectors, companies like China Everbright Environment and Zhongshan Public Utilities are highlighted for their cash flow improvements [3][24] Key Company Profit Forecasts - Huadian International (600027.SH): Expected EPS of 0.46 in 2024, PE ratio of 12.2 [8] - Longyuan Power (001289.SZ): Expected EPS of 0.75 in 2024, PE ratio of 22.3 [8] - China Nuclear Power (601985.SH): Expected EPS of 0.46 in 2024, PE ratio of 20.5 [8] - China Everbright Environment (0257.HK): Expected EPS of 0.55 in 2024, PE ratio of 7.3 [8]

Group 1 - The Shanghai Composite Index is at 3463.25 points, above the annual line, with a change of 0.06% [1] - A total trading volume of A-shares today is 6235.95 billion yuan [1] - 20 A-shares have broken through the annual line, with notable stocks including Aima Technology, *ST Sunshine, and Qingdao Port, showing divergence rates of 1.97%, 0.84%, and 0.65% respectively [1] Group 2 - The stocks with the highest divergence rates from the annual line include: - Aima Technology (603529) with a price increase of 3.31% and a divergence rate of 1.97% [1] - *ST Sunshine (000608) with a price increase of 1.03% and a divergence rate of 0.84% [1] - Qingdao Port (601298) with a price increase of 0.80% and a divergence rate of 0.65% [1] - Other stocks that have just crossed the annual line include: - Jinghu High-speed Railway (601816) with a price increase of 0.35% and a divergence rate of 0.01% [2] - Tiankang Biological (002100) with a price increase of 0.32% and a divergence rate of 0.10% [2]

Group 1 - The company held its 11th Board of Directors' 9th meeting on June 30, 2025, with all 9 directors present, complying with relevant laws and regulations [1][2] - The board approved a proposal for the internal transfer of equity among subsidiaries to optimize the organizational structure and prepare for future capital operations, which will not significantly impact the financial status or operating results [1][2] - The company revised several internal management systems, including the related party transaction management system and information disclosure management system, in accordance with applicable laws and regulations [2]

Core Points - The document outlines the information disclosure management measures for Jinkai New Energy Co., Ltd. regarding its credit bonds, aiming to standardize disclosure practices and protect investors' rights [1] - The regulations are based on various laws and guidelines, including the Company Law and Securities Law of the People's Republic of China [1] Group 1: Basic Principles and General Provisions - Information disclosure must adhere to principles of truthfulness, accuracy, completeness, timeliness, and fairness, avoiding false records or misleading statements [2] - The company and its executives are obligated to fulfill disclosure duties in a timely and fair manner, ensuring the information is accurate and complete [2][3] - Disclosure must occur no later than the time it is made through other channels, and cannot be substituted by announcements on social media or press conferences [2] Group 2: Disclosure Content - Prior to bond issuance, the company must disclose audited financial reports for the last three years, a fundraising prospectus, and any required credit rating reports [4] - During the bond's duration, the company is required to disclose annual reports within four months after the fiscal year-end and semi-annual reports within two months after the first half of the fiscal year [4][5] Group 3: Major Events Disclosure - The company must promptly disclose significant events that may affect its debt repayment ability or investor rights, including changes in management, financial audits, or substantial losses exceeding 10% of net assets [6][7] - If a subsidiary experiences significant events that could impact the bond issuance, the company must also disclose this information [6] Group 4: Management of Disclosure Affairs - The company’s board secretary is responsible for managing bond information disclosure affairs, ensuring compliance with legal requirements [8] - The board office assists in handling daily disclosure matters and maintaining investor relations [8] Group 5: Disclosure Procedures - The company must follow strict review procedures before releasing bond information, ensuring all relevant departments verify the accuracy of the information [10] - Major events must be reported immediately to the board and the information disclosure officer to ensure timely disclosure [11] Group 6: Confidentiality and Record Keeping - Individuals with access to undisclosed information must maintain confidentiality and are prohibited from leaking information or engaging in insider trading [12][13] - Records related to information disclosure must be archived for ten years [12] Group 7: Exemptions and Responsibilities - The company may apply for exemptions from disclosure under specific circumstances, such as national security concerns or permanent commercial secrets [13] - Failure to comply with disclosure requirements may result in disciplinary actions against responsible individuals, including potential legal consequences [15]