证券代码：600886 证券简称：国投电力 公告编号：2025-046 国投电力控股股份有限公司 （二）审议通过了《关于 2025 年半年度募集资金存放与实际使用情况的专 项报告》 该报告同日在上海证券交易所网站（www.sse.com.cn）披露。 本议案已经公司审计委员会审议通过。 第十二届董事会第四十八次会议决议公告 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。 一、董事会会议召开情况 国投电力控股股份有限公司（以下简称公司）第十二届董事会第四十八次会 议于 2025 年 8 月 18 日以邮件方式发出通知，2025 年 8 月 28 日以通讯方式召开。 本次会议应出席董事 9 人，实际出席董事 9 人，公司董事长郭绪元先生主持本次 会议。本次会议的召集和召开符合《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《公司 2025 年半年度报告》 该报告及其摘要同日在上海证券交易所网站（www.sse.com.cn）披露。 本议案已经公司审计委员会审议通过。 表决情况：9 票赞成、0 票反对、 ...

国投电力控股股份有限公司 2025 年半年度报告 公司代码：600886 公司简称：国投电力 国投电力控股股份有限公司 2025 年半年度报告 1 / 228 国投电力控股股份有限公司 2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人郭绪元、主管会计工作负责人周长信及会计机构负责人（会计主管人员）赵利君 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 公司有关未来发展战略和经营计划的前瞻性陈述并不构成公司对投资者的实质承诺，请投资 者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司在本报告 ...

Group 1 - The A-share market's three major indices closed mixed, with the CSI 300 Power Index at 2638.31 points [1] - The CSI 300 Power Index has decreased by 0.46% over the past month, 4.42% over the past three months, and 4.39% year-to-date [1] - The CSI 300 Index categorizes its 300 sample companies into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] Group 2 - The top ten weights in the CSI 300 Power Index are: Changjiang Power (48.33%), China Nuclear Power (10.63%), Three Gorges Energy (8.61%), Guodian Power (5.99%), State Power Investment (4.98%), Huaneng International (4.57%), Chuanwei Energy (4.24%), China General Nuclear Power (4.19%), Zhejiang Energy (2.94%), and Huadian International (2.81%) [1] - The market share of the CSI 300 Power Index is 95.46% from the Shanghai Stock Exchange and 4.54% from the Shenzhen Stock Exchange [1] Group 3 - In terms of industry composition within the CSI 300 Power Index, hydropower accounts for 59.91%, thermal power for 16.31%, nuclear power for 14.82%, and wind power for 8.97% [2] - The index sample is adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made when the CSI 300 Index samples are modified [2]

Core Viewpoint - The company, Guotou Electric Power Holdings Co., Ltd., is set to hold a semi-annual performance briefing on September 2, 2025, to discuss its operational results and financial status for the first half of 2025, as well as address investor concerns [1]. Group 1: Meeting Details - The meeting will take place on September 2, 2025, from 09:30 to 10:30 [1]. - It will be held at the Shanghai Stock Exchange Roadshow Center, accessible via the website: https://roadshow.sseinfo.com/ [1]. - The format of the meeting will be a combination of video and online interaction, allowing for real-time communication with investors [1]. Group 2: Participation Information - Investors can participate online during the meeting and will have the opportunity to ask questions [1]. - Questions can be submitted in advance from August 26, 2025, to September 1, 2025, by visiting the pre-question section on the Roadshow Center website or via the company's email [1]. - The company will respond to commonly asked questions during the briefing [1]. Group 3: Key Personnel - Key attendees include Chairman Guo Xuyuan, General Manager Yu Haimiao, Chief Accountant Zhou Changxin, and other senior executives [1].

证券代码：600886 证券简称：国投电力 公告编号：2025-045 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： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 08 月 26 日（星期二）至 09 月 01 日（星期 一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 gtdl@sdicpower.com 进行提问。公司将在说明会上对 投资者普遍关注的问题进行回答。 国投电力控股股份有限公司（以下简称公司）将于 2025 年 8 月 30 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地 了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 09 月 02 日（星期二）09:30-10:30 举行 2025 年半年度业绩说明会， 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视频结合网络互动召开，公司将针对 2025 年半年度的经营成果及财务指标 ...

Investment Rating - The report provides a positive investment outlook for the electricity and natural gas sectors, recommending specific companies for investment based on their performance and market conditions [4][16]. Core Insights - In July, the national electricity consumption exceeded 1 trillion kWh for the first time, reaching 10,226 billion kWh, a year-on-year increase of 8.6% [4][7]. - The increase in electricity consumption was primarily driven by urban and rural residents, contributing 38% to the total growth, with significant contributions from the secondary and tertiary industries as well [8][9]. - The report highlights the impact of high temperatures on electricity demand, noting that July was the hottest month since 1961, which significantly boosted residential electricity usage [8][9]. - Natural gas prices in Europe have rebounded due to geopolitical tensions, while prices in Asia and the US have decreased, indicating a mixed market environment [16][20]. - The report emphasizes the potential for improved profitability in the biomass energy sector following the introduction of new methodologies for carbon emissions reduction [4][16]. Summary by Sections Electricity - July's total electricity consumption reached 10,226 billion kWh, marking a historic milestone with an 8.6% year-on-year growth [4][7]. - The first, second, and third industries, along with urban and rural residents, contributed to the overall electricity consumption growth, with the second industry showing a recovery in electricity usage [8][9]. - Recommendations include investing in hydropower, green energy, nuclear power, and thermal power companies such as Guodian Power and Huaneng International [14][15]. Natural Gas - The report notes a stable supply-demand balance in the natural gas market, with US prices dropping to $2.76/mmBtu, while European prices have seen fluctuations due to geopolitical risks [16][20]. - Recommendations for investment include companies in the city gas sector and integrated natural gas traders, highlighting firms like Kunlun Energy and New Hope Energy [41][42]. Environmental Sector - The introduction of new methodologies for biomass energy projects is expected to enhance profitability, with a focus on companies like Evergreen Group and China Everbright [4][16]. Market Performance - The report reviews market performance from August 18 to August 22, indicating that the gas, public utility, electricity, and environmental sectors underperformed compared to the Shanghai and Shenzhen 300 index [43][44].

Investment Rating - The report maintains a positive outlook on the electricity and gas sectors, indicating a favorable investment environment [5]. Core Insights - In July, the national electricity consumption exceeded 1 trillion kWh for the first time, reaching 10,226 billion kWh, a year-on-year increase of 8.6% [10][11]. - The increase in electricity consumption was primarily driven by urban and rural residents, contributing 38% to the total growth, while the secondary and tertiary industries contributed 33% and 25%, respectively [11]. - The report highlights the impact of high temperatures in July, which were 1.3°C above the historical average, leading to increased electricity demand from residential sectors [11]. - In the gas sector, European gas prices have rebounded due to geopolitical tensions, while Asian and US gas prices have declined [19][30]. - The report suggests that the gas supply-demand balance remains loose, with US gas production at historical highs, contributing to lower prices [22][23]. Summary by Sections 1. Electricity: July National Electricity Consumption Exceeds 1 Trillion kWh - The national electricity consumption reached 10,226 billion kWh in July, marking a historic milestone [10]. - The first industry saw a 20.2% increase in electricity consumption, while the second and third industries grew by 4.7% and 10.7%, respectively [12]. - Cumulative electricity consumption from January to July was 58,633 billion kWh, a 4.5% year-on-year increase [14]. 2. Gas: Gas Supply-Demand Remains Loose, Geopolitical Tensions Affect European Gas Prices - As of August 22, the Henry Hub spot price in the US was $2.76/mmBtu, a weekly decrease of 7.19% [19]. - The TTF spot price in Europe rose to €33.10/MWh, reflecting an 8.17% increase due to geopolitical tensions [20]. - The report notes that European gas inventories are significantly lower than last year and the five-year average, raising concerns about supply stability [30]. 3. Weekly Market Review - The report indicates that the gas, public utilities, electricity, and environmental sectors underperformed relative to the CSI 300 index during the period from August 18 to August 22 [47]. 4. Company and Industry Dynamics - The report mentions the release of a notice regarding the bidding arrangement for new energy projects in Gansu Province, indicating ongoing developments in the renewable energy sector [54]. - Key announcements from companies such as Guodian Power and Kunlun Energy highlight their financial performance and strategic initiatives [55][58]. 5. Key Company Valuation Table - The report includes a valuation table for key companies in the public utility sector, indicating buy ratings for several firms, including China Nuclear Power and Huaneng International [59].

Group 1 - The core viewpoint of the article highlights the decline in China's hydropower generation, with a reported production of 139.1 billion kilowatt-hours in June 2025, representing a year-on-year decrease of 4% [1] - In the first half of 2025, China's cumulative hydropower generation reached 539.79 billion kilowatt-hours, showing a cumulative decline of 2.9% [1] - The article references a market analysis report by Zhiyan Consulting, which covers the development status and market forecast of the hydropower industry in China from 2025 to 2031 [1] Group 2 - The listed companies in the hydropower sector include Changjiang Electric Power, Huaneng Hydropower, Guotou Power, Chuan Investment Energy, Gui Guan Electric Power, Qian Yuan Electric Power, Hubei Energy, Mindong Electric Power, Leshan Electric Power, and Hunan International Power [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, providing comprehensive industry research reports, business plans, feasibility studies, and customized services [2]

Core Viewpoint - The successful acquisition of land by China Electric Power Equipment Co., Ltd., a subsidiary of State Power Investment Corporation, marks a significant step in the market-oriented development of energy-related central enterprises in the Xiong'an New Area [1] Group 1 - The land acquired measures 88.16 acres and the total land transfer fee amounts to 559 million yuan [1] - The land will be utilized for the construction of the State Power Investment Corporation's Xiong'an base project [1] - This acquisition signifies the ongoing innovation and market-oriented expansion of energy enterprises in the Xiong'an New Area [1]

Core Viewpoint - The financing activities of Guotou Electric Power (600886) indicate a slight bullish sentiment among investors, with a net financing inflow observed over the past three trading days, suggesting increased market interest in the stock [1][2]. Financing Summary - On August 21, 2025, Guotou Electric Power had a financing buy of 27.29 million yuan and a financing repayment of 26.79 million yuan, resulting in a net financing inflow of 490,100 yuan, with a financing balance of 674 million yuan [1][2]. - The financing balance has shown a slight increase over the past few days, with a total net buy of 9.31 million yuan accumulated over the last three trading days [1][2]. - The financing balance as a percentage of the circulating market value was 0.61% on August 21, 2025, indicating a stable investor sentiment [2]. Margin Trading Summary - On the same day, the margin trading saw a short sale of 35,900 shares and a repayment of 19,100 shares, leading to a net short sale of 16,800 shares, with a remaining margin balance of 3.55 million yuan [3]. - Over the past 20 trading days, there have been 11 days of net short sales, indicating a mixed sentiment among investors regarding the stock [3]. Overall Margin Trading Balance - The total margin trading balance on August 21, 2025, was 667.9 million yuan, reflecting a slight increase of 0.12% from the previous day [4]. - The margin trading balance has fluctuated over the past few days, with notable increases and decreases, indicating varying investor confidence [4].