Group 1 - The company plans to issue debt financing instruments not exceeding 3 billion yuan in the interbank market and Shanghai Stock Exchange [1] - The company received a registration notice from the Association for a total amount of 1.5 billion yuan for green debt financing tools, valid for 2 years [2] - The company has completed the issuance of the second phase of green medium-term notes for the year 2025, with the funds fully received on April 21, 2025 [2]

证券代码：600821 证券简称：金开新能 公告编号：2025-029 金开新能源股份有限公司 上述绿色中期票据发行相关文件详见中国货币网（www.chinamoney.com.cn） 和上海清算所网站（www.shclearing.com.cn）。 特此公告。 金开新能源股份有限公司(以下简称"公司")于 2024 年 8 月 9 日和 2024 年 8 月 26 日分别召开的第十届董事会第四十九次会议和 2024 年第一次临时股东 大会审议通过《关于拟发行直接融资工具的议案》：公司拟在中国银行间市场交 易商协会及上海证券交易所注册发行不超过30亿元(含30亿元)的债务融资工具， 具体内容详见公司于 2024 年 8 月 10 日在上海证券交易所网站（www.sse.com.cn） 披露的《关于拟发行直接融资工具的公告》（公告编号：2024-056）。 公司于 2024 年 12 月收到中国银行间市场交易商协会（以下简称"协会"） 签发的《接受注册通知书》（中市协注〔2024〕GN24 号），协会同意接受公司 总金额为 15 亿元的绿色债务融资工具注册，注册额度自《接受注册通知书》落 款之日起 2 年内有效 ...

Core Viewpoint - The company, Jinkai New Energy Co., Ltd., is set to hold an annual performance briefing on April 25, 2025, to discuss its 2024 annual report and address investor inquiries [2][3][4]. Group 1: Meeting Details - The annual performance briefing will take place on April 25, 2025, from 15:00 to 17:00 [2][6]. - The meeting will be held at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [2][4]. - Participants will include the company's chairman, independent directors, board secretary, and financial officer, with potential adjustments based on special circumstances [4]. Group 2: Investor Participation - Investors can log into the Shanghai Stock Exchange Roadshow Center to participate in the briefing and ask questions [5][6]. - A pre-question submission period is available from April 19 to April 24, 2025, allowing investors to submit inquiries via the website or email [5][7]. - The company will address commonly raised questions during the briefing [3][5]. Group 3: Contact Information - For inquiries, investors can contact the company via phone at 010-50950528 or email at ir@nyocor.com [6][7]. - After the briefing, the main content and details will be accessible on the Shanghai Stock Exchange Roadshow Center [7].

证券代码：600821 证券简称：金开新能 公告编号：2025-028 二、说明会召开的时间、地点 金开新能源股份有限公司 关于召开2024年年度业绩说明会的公告 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： 金开新能源股份有限公司（以下简称"公司"）于2025年4月10日披露了 2024年年度报告，为便于广大投资者更全面深入地了解公司2024年年度经营成 果及财务状况，公司计划于2025年4月25日（星期五）15:00-17:00举行2024年 年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动的方式召开，公司将针对2024年年度的经营 成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 五、联系方式 （一）会议召开时间：2025年4月25日（星期五）15:00-17:00 （二）会议召开地点：上海证券交易所上证路演中心 （https://roadshow.sseinfo.com/） 会议召开时间：2025 年 ...

Group 1 - The core index of the CSI 1000 Public Utilities Index closed at 3151.51 points, with mixed performance among the three major A-share indices [1] - The CSI 1000 Public Utilities Index has decreased by 0.62% over the past month, increased by 3.49% over the past three months, and has declined by 3.66% year-to-date [2] - The index is composed of liquid and representative securities from various industries, providing diverse investment options for investors [2] Group 2 - The top ten weighted stocks in the CSI 1000 Public Utilities Index include Jilin Electric Power (6.89%), Jinkai New Energy (5.33%), and Linyang Energy (5.24%) [2] - The index's holdings are primarily from the Shanghai Stock Exchange (55.26%) and the Shenzhen Stock Exchange (44.74%) [2] - The industry composition of the index shows that electricity and grid account for 72.26%, gas for 15.98%, water services for 10.17%, and heating and others for 1.59% [2] Group 3 - The index samples are adjusted semi-annually, with adjustments implemented on the next trading day following the second Friday of June and December [3] - In special circumstances, the index may undergo temporary adjustments, such as when a sample stock is delisted or undergoes mergers, acquisitions, or splits [3] - Changes in the industry classification of sample stocks will also lead to corresponding adjustments in the CSI 1000 industry index [3]

Core Viewpoint - The Tianjin Free Trade Zone concept has shown a significant increase of 1.90%, leading the concept sector in terms of growth, with several stocks reaching their daily limit up [1][2]. Group 1: Stock Performance - Within the Tianjin Free Trade Zone concept, six stocks experienced gains, with Tianbao Construction, Guifaxiang, and Bohai Chemical hitting the daily limit up [1]. - Notable performers included Tianjin Port, HNA Technology, and Ji'an Medical, which rose by 1.80%, 0.68%, and 0.51% respectively [1]. - Conversely, Hengyin Technology, Tianjin Pulin, and Jinkai New Energy faced declines of 2.05%, 1.72%, and 1.41% respectively [1]. Group 2: Capital Inflow - The Tianjin Free Trade Zone concept saw a net inflow of 248 million yuan from major funds, with nine stocks receiving net inflows [2]. - Guifaxiang led the net inflow with 115 million yuan, followed by Tianbao Construction, Bohai Chemical, and HNA Technology with net inflows of 79.36 million yuan, 49.21 million yuan, and 19.02 million yuan respectively [2][3]. - The net inflow ratios for Guifaxiang, Tianbao Construction, and Bohai Chemical were 35.49%, 30.77%, and 23.17% respectively, indicating strong investor interest [3].

Investment Rating - The investment rating for the company is "Outperform the Market" [6][4][23] Core Views - The company has achieved revenue growth, with operating revenue expected to reach 3.612 billion yuan in 2024, an increase of 8.55%. However, the net profit attributable to the parent company is projected to remain flat at 803 million yuan, reflecting a minimal increase of 0.05% [8][4] - The growth in revenue is primarily driven by an increase in electricity sales, with total power generation expected to reach 7.905 billion kWh, up 11.63%, and electricity sales projected at 7.757 billion kWh, up 10.82% [8][13] - The decline in net profit growth compared to revenue growth is attributed to a decrease in electricity prices leading to a lower gross margin of 55.11%, down 1.88 percentage points year-on-year, and a significant increase in asset impairment losses, which are expected to reach 126 million yuan, up 72.60% year-on-year [8][17] Summary by Sections Financial Performance - In 2024, the company anticipates operating revenue of 3.612 billion yuan, with a year-on-year growth of 8.55%. The net profit attributable to the parent company is expected to be 803 million yuan, showing a slight increase of 0.05% [8][4] - The company’s gross margin is projected to decline to 55.11% due to falling electricity prices, while asset impairment losses are expected to rise significantly [8][17] Capacity Growth - The company is set to add a total of 1,073 MW of new grid-connected capacity in 2024, including 257 MW from wind power and 816 MW from solar power. The approved capacity will reach 7,468 MW, with grid-connected capacity at 5,554 MW, representing year-on-year growth of 16% and 24%, respectively [21][2] New Business Models - The company is actively exploring the "Green Electricity+" model, focusing on integrating renewable energy with high-energy-consuming industries such as coal chemical, electrolytic aluminum, and magnesium smelting. This strategy aims to create new growth drivers and enhance collaboration with high-value-added industries [22][3] Investment Recommendations - Due to the impact of declining electricity prices, the profit forecast for 2025-2027 has been adjusted, with expected net profits of 889 million yuan, 970 million yuan, and 1.06 billion yuan, reflecting growth rates of 10.4%, 9.9%, and 8.6%, respectively [4][23]

Investment Rating - The investment rating for the company is "Outperform the Market" [6][4] Core Viewpoints - The company has achieved revenue growth, with operating revenue reaching 3.612 billion yuan in 2024, an increase of 8.55%, while net profit attributable to shareholders remained stable at 803 million yuan, a slight increase of 0.05% [8][4] - The growth in revenue is primarily driven by an increase in electricity sales, with total power generation expected to reach 7.905 billion kWh in 2024, up 11.63%, and electricity sales projected at 7.757 billion kWh, up 10.82% [8][2] - The company's profit growth is hindered by a decline in electricity prices, leading to a decrease in gross margin to 55.11%, down 1.88 percentage points year-on-year, and a significant increase in asset impairment losses, which rose by 72.60% to 126 million yuan [8][2] Summary by Relevant Sections Financial Performance - In 2024, the company expects operating revenue of 3.612 billion yuan, with a year-on-year growth of 8.55%, and net profit of 803 million yuan, showing a minimal increase of 0.05% [8][4] - The projected net profits for 2025-2027 are 889 million yuan, 970 million yuan, and 1.06 billion yuan, respectively, with year-on-year growth rates of 10.4%, 9.9%, and 8.6% [4][23] - The company's earnings per share (EPS) for the same period are expected to be 0.44 yuan, 0.49 yuan, and 0.53 yuan, with corresponding price-to-earnings (PE) ratios of 12.6, 11.5, and 10.6 [4][23] Capacity and Growth - The company has added a total of 1,073 MW of new grid-connected capacity in 2024, including 257 MW from wind power and 816 MW from solar power, with total approved capacity reaching 7,468 MW, a year-on-year increase of 16% [2][21] - The company is actively exploring the "Green Electricity +" model, focusing on sectors such as coal chemical, electrolytic aluminum, and magnesium smelting, to support the transformation of high-energy-consuming industries [3][22] Market Position and Future Outlook - The release of document "No. 136" has facilitated the entry of renewable energy into the electricity market, which is expected to help maintain reasonable returns for renewable energy projects [2][21] - The company is also focusing on the integration of renewable energy with high-value-added industries, which is anticipated to create new growth momentum for its performance [3][22]

Investment Rating - The investment rating for the company is "Buy" with a maintained rating for the next six months [7][18]. Core Views - The company has implemented a "three curves" strategy, leading to continuous expansion of installed capacity [1]. - In 2024, the company achieved a revenue of 3.612 billion yuan, representing a year-on-year growth of 8.55%, and a net profit attributable to shareholders of 802 million yuan, with a slight increase of 0.05% year-on-year [1][3][4]. - The company plans to distribute a total cash dividend of 542 million yuan for 2024, which accounts for 67.51% of the net profit attributable to shareholders [1]. Summary by Sections Installed Capacity and Growth - In 2024, the company added 1.1 GW of new installed capacity, with a total of 1,073 MW connected to the grid, primarily in regions with strong power consumption capacity and favorable resource conditions [2]. - The cumulative approved installed capacity reached 7,468 MW, a year-on-year increase of 15.82%, while the grid-connected capacity reached 5,554 MW, up 23.97% year-on-year [2]. Revenue and Profitability - The company completed a total power generation of 79.05 billion kWh in 2024, with wind power contributing 35.60 billion kWh (up 11.79% year-on-year) and solar power contributing 42.97 billion kWh (up 9.72% year-on-year) [3]. - The overall revenue growth was driven by the increase in installed capacity, despite a decline in electricity prices due to the commissioning of new projects [3]. - The gross profit margin for renewable energy generation was 56.14%, a decrease of 0.70 percentage points year-on-year, with wind power at 65.55% (up 1.66 percentage points) and solar power at 49.62% (down 2.82 percentage points) [4]. Financial Forecasts - The profit forecasts for 2025-2027 have been adjusted downwards, with expected net profits of 910 million yuan, 1.06 billion yuan, and 1.18 billion yuan respectively [5]. - The projected price-to-earnings ratios for these years are 12, 11, and 10 times [5].

Investment Rating - The investment rating for the company is "Buy" with a target price indicating a potential return of over 20% within the next six months [7][18]. Core Views - The company has implemented a "three curves" strategy, leading to continuous expansion of installed capacity [1]. - In 2024, the company achieved a revenue of 3.612 billion yuan, representing a year-on-year growth of 8.55%, and a net profit attributable to shareholders of 802.72 million yuan, with a slight increase of 0.05% [1][3][4]. - The company plans to distribute a total cash dividend of 542 million yuan for 2024, which accounts for 67.51% of the net profit attributable to shareholders [1]. Summary by Sections Installed Capacity and Growth - In 2024, the company added 1.1 GW of new installed capacity, with a total of 1,073 MW connected to the grid, primarily in regions with strong power consumption capabilities [2]. - The cumulative approved installed capacity reached 7,468 MW, a year-on-year increase of 15.82%, while the grid-connected capacity reached 5,554 MW, up 23.97% [2]. Revenue and Profitability - The company generated a total electricity output of 79.05 billion kWh in 2024, with wind power contributing 35.60 billion kWh (up 11.79%) and solar power contributing 42.97 billion kWh (up 9.72%) [3]. - The overall gross margin for renewable energy generation was 56.14%, a decrease of 0.70 percentage points year-on-year, while the wind power margin increased to 65.55% [4]. Financial Forecasts - The profit forecasts for 2025-2027 have been adjusted downward, with expected net profits of 910 million yuan, 1.06 billion yuan, and 1.18 billion yuan respectively [5]. - The projected price-to-earnings ratios for 2025-2027 are 12, 11, and 10 times [5].