Core Points - The Shanghai Composite Index opened lower and the CSI 300 Utilities Index reported at 2662.05 points [1] - The CSI 300 Utilities Index has increased by 5.17% over the past month, 3.49% over the past three months, and has decreased by 1.65% year-to-date [1] Index Composition - The CSI 300 Utilities Index is composed of 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] - The top ten weights in the CSI 300 Utilities Index are: - Changjiang Electric Power (48.06%) - China Nuclear Power (10.21%) - Three Gorges Energy (8.19%) - Guodian Power (5.41%) - State Power Investment Corporation (4.87%) - Sichuan Investment Energy (4.38%) - Huaneng International (4.22%) - China General Nuclear Power (3.74%) - Zhejiang Energy Power (3.11%) - Huadian International (2.71%) [1] Market Distribution - The market distribution of the CSI 300 Utilities Index shows that the Shanghai Stock Exchange accounts for 95.91% and the Shenzhen Stock Exchange accounts for 4.09% [2] - In terms of industry composition within the index: - Hydropower accounts for 59.59% - Thermal power accounts for 15.45% - Nuclear power accounts for 13.96% - Wind power accounts for 8.54% - Gas accounts for 2.47% [2] Sample Adjustment - The index samples are adjusted every six months, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the CSI 300 Index samples [2]

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： 会 议 召 开 时 间 ： 2025 年 5 月 9 日 ( 星 期 五 ) 上 午 10:00-11:00 证券代码：600905 证券简称：三峡能源 公告编号：2025-020 中国三峡新能源（集团）股份有限公司 关于召开 2024 年度暨 2025 年第一季度 业绩说明会的公告 会议召开方式：网络视频直播+现场会议 会议召开地点：北京市通州区粮市街 2 号院成大中心 5 号楼 425 会议室 网络直播地址：小鱼易连（会议号 9022196904，无密码， 具体路径详见附件小鱼易连使用说明） 投资者可于 2025 年 5 月 7 日(星期三)前通过公司邮箱 （ctgr_ir@ctg.com.cn）进行提问。公司将在业绩说明会上对投资 者普遍关注的问题进行回答。 中国三峡新能源（集团）股份有限公司（以下简称公司）将 于 2025 年 4 月 30 日 在 上 海 证 券 交 易 所 网 站 （http://www.sse.com.cn）发布公司《2024 年年度 ...

Core Viewpoint - The Shanghai Composite Index opened lower and fluctuated, with the CSI 300 Utilities Index reported at 2638.18 points, reflecting a 3.14% increase over the past month, a 4.64% increase over the past three months, and a 2.53% decline year-to-date [1] Group 1: Index Performance - The CSI 300 Utilities Index is categorized into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries, providing a comprehensive analysis tool for investors [1] - The index is based on a sample of 300 stocks from the CSI 300, with a base date of December 31, 2004, and a base point of 1000.0 [1] Group 2: Index Holdings - The top ten weights in the CSI 300 Utilities Index are: - Changjiang Electric Power (48.17%) - China Nuclear Power (10.24%) - Three Gorges Energy (8.19%) - Guodian Power (5.45%) - State Power Investment (4.79%) - Sichuan Investment Energy (4.38%) - Huaneng International (4.21%) - China General Nuclear Power (3.7%) - Zhejiang Energy Power (3.12%) - Huadian International (2.67%) [1] Group 3: Market Composition - The market composition of the CSI 300 Utilities Index shows that the Shanghai Stock Exchange accounts for 95.94%, while the Shenzhen Stock Exchange accounts for 4.06% [2] - In terms of industry composition, hydropower constitutes 59.60%, thermal power 15.45%, nuclear power 13.94%, wind power 8.55%, and gas power 2.46% [2] Group 4: Sample Adjustment - The index samples are adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the CSI 300 Index samples or special events affecting sample companies [2]

证券代码：600905 证券简称：三峡能源 公告编号：2025-019 中国三峡新能源（集团）股份有限公司 2025年第一次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 | 1、出席会议的股东和代理人人数 | 5,086 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 20,119,504,612 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 70.3021 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会的召集、召开形式和程序符合《公司法》《证券法》《中国三峡 新能源（集团）股份有限公司章程》《中国三峡新能源（集团）股份有限公司股 东大会议事规则》的有关规定，会议决议合法有效。本次会议由朱承军董事长主 持。 (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 1、 议案名称：关于补选公司董事的议 ...

式体制造微计公 KING&WODL 北京市朝阳区东三环中路1号 环球金融中心办公楼东楼18层 邮编: 100020 18th Floor, East Tower, World Financial Center 1 Dongsanhuan Zhonglu Chaovang District Beijing, 100020 P R. China 北京市金杜律师事务所 致:中国三峡新能源(集团)股份有限公司 北京市金杜律师事务所（以下简称本所）接受中国三峡新能源(集团）股份有限 公司(以下简称公司)委托,根据《中华人民共和国证券法》(以下简称《证券 法》）、《中华人民共和国公司法》(以下简称《公司法》)、中国证券监督管理委 员会《上市公司股东会规则》（以下简称《股东会规则》）等中华人民共和国境内 (以下简称中国境内,为本法律意见书之目的,不包括中国香港特别行政区、中国澳 门特别行政区和中国台湾地区）现行有效的法律、行政法规、规章和规范性文件和现 行有效的公司章程有关规定，指派律师出席了公司于 2025年 4 月 24日召开的 2025 年 第一次临时股东大会（以下简称本次股东大会）,并就本次股东大会相关事项出具本 ...

国家电投独占鳌头 国家电投作为国内新能源领域的佼佼者，其新能源装机规模一直位居行业前列。然而，随着新能源市场 的竞争加剧和自身战略调整的需要，国家电投开始逐步优化其新能源布局。 近期，国家电投宣布转让其旗下部分新能源公司的股权，旨在通过引入社会资本和战略投资者，实现资 源的优化配置和风险的有效分散。4月11日，北京产权交易所网站上的一则披露信息显示，国家电投旗 华夏时报（www.chinatimes.net.cn）记者 刘昱汝 徐芸茜 北京报道 在近年来全球能源转型的大潮中，央企着手调整战略布局，以适应新能源时代的挑战。 近日，国家电投、国家电网、三峡集团等央企近期再度"出手"，抛售超14家新能源公司。自2025年起 始，国家电投在这场股权转让的"浪潮"中表现得格外引人注目。 据《华夏时报》记者不完全统计，2025年至今，国家电投、国家电网、三峡集团、南方电网、中石油五 家能源央企就已经有超14条转让动态，其中国家电投独占鳌头，占据了50%，共有7家能源公司股权转 让。这一系列动作不仅彰显了央企在新能源领域布局的深度调整，也预示着中国能源行业即将迎来一场 新的变革。 "近期央企在新能源领域的股权转让，并非标志 ...

Group 1 - The A-share market's three major indices closed mixed, with the CSI 300 Utilities (secondary industry) index at 2610.44 points [1] - The CSI 300 Utilities index has increased by 3.88% over the past month, 2.74% over the past three months, and has decreased by 3.55% year-to-date [1] - The CSI 300 index categorizes its 300 sample stocks 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 Utilities index are: Changjiang Electric Power (48.15%), China Nuclear Power (10.39%), Three Gorges Energy (8.2%), Guodian Power (5.46%), State Power Investment (4.72%), Chuanwei Energy (4.36%), Huaneng International (4.2%), China General Nuclear Power (3.8%), Zhejiang Energy (3.06%), and Huadian International (2.62%) [1] - The market share of the CSI 300 Utilities index is 95.84% from the Shanghai Stock Exchange and 4.16% from the Shenzhen Stock Exchange [2] - The industry composition of the CSI 300 Utilities index includes hydropower (59.47%), thermal power (15.34%), nuclear power (14.19%), wind power (8.56%), and gas (2.43%) [2] Group 3 - The index sample is adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made when the CSI 300 index samples are modified [2] - Special events affecting sample companies may lead to changes in industry classification, and companies that are delisted will be removed from the index sample [2]

Investment Rating - The report maintains an "Outperform" rating for the public utility and environmental sectors [4][6]. Core Views - The report highlights that coal and electricity prices are declining simultaneously, which is expected to maintain reasonable profitability for thermal power companies. Recommendations include major thermal power enterprises such as Huadian International and Shanghai Electric [3][6]. - Continuous government policies supporting renewable energy development are anticipated to stabilize profitability in the renewable energy sector. Recommended companies include Longyuan Power, Three Gorges Energy, and regional offshore wind power companies like Guangxi Energy and Funiu Co [3][6]. - The growth in installed capacity and power generation is expected to offset the downward pressure on electricity prices, with nuclear power companies like China Nuclear Power and China General Nuclear Power projected to maintain stable profitability [3][6]. - High-dividend hydropower stocks are highlighted for their defensive attributes in a global interest rate decline context, with recommendations for Changjiang Electric Power [3][6]. - The environmental sector, particularly water and waste incineration industries, is entering a mature phase with significant improvements in free cash flow. Recommended companies include China Everbright Environment and Zhongshan Public Utilities [3][6]. Summary by Sections Market Review - The Shanghai Composite Index rose by 0.59%, while the public utility index increased by 1.77%. The environmental index saw a slight increase of 0.04% [12][19]. - In March, the total electricity consumption reached 828.2 billion kWh, marking a year-on-year growth of 4.8% [13][49]. Important Policies and Events - The report notes that in March, the first industry electricity consumption was 10.6 billion kWh (up 9.9%), the second industry was 557.8 billion kWh (up 3.8%), and the third industry was 148.4 billion kWh (up 8.4%) [13][52]. Key Company Profit Forecasts and Investment Ratings - Huadian International, Jin Kai New Energy, Shanghai Electric, Longyuan Power, and others are rated as "Outperform" with specific EPS and PE forecasts provided [6]. Industry Dynamics - The report discusses the decline in the import of mass spectrometers from the US, with a significant drop in both import value and quantity from 2020 to 2024 [15][17]. Sector Performance - The report indicates that the public utility and environmental sectors ranked 7th and 23rd respectively among 31 industry classifications in terms of performance [12][19]. Electricity Industry Data - The report provides detailed statistics on electricity generation, noting a 1.8% year-on-year increase in industrial electricity production in March, with specific growth rates for different energy sources [42][49]. Carbon Market Overview - The report includes insights into the domestic carbon market, highlighting recent price trends and trading volumes [86][87]. Coal Price Trends - The report notes that the price of thermal coal remained stable, with the price at the port reported at 678 RMB/ton [99].

电力及公用事业行业周报(25WK16) 25Q1 绿证核发量激增，3 月用电量同比+4.8% 2025 年 04 月 20 日 ➢ 本周（20250414-20250418）电力板块行情：本周电力板块走势优于大盘。 截至 2025 年 04 月 18 日，本周公用事业板块收于 2318.99 点，上涨 40.42 点， 涨幅 1.77%；电力子板块收于 3,099.51 点，上涨 54.97 点，涨幅 1.81%，高于 沪深 300 本周涨幅。公用事业（电力）板块涨幅在申万 31 个一级板块中排第 7 位。从电力子板块来看：火电板块表现最优，火力发电上涨 2.99%，水力发电上 涨 1.33%，光伏发电下跌 0.17%，风力发电下跌 0.06%。 ➢ 本周专题：2025Q1 国家能源局核发绿证 6.62 亿个。截至 2025 年 3 月底， 累计核发绿证 56.17 亿个。其中，华北区域跨区跨省绿电交易电量达 295.1 亿千 瓦时，同比增长 73%；华东区域跨区跨省绿电交易电量达 38.55 亿千瓦时，同比 增长 67.83%。25Q1 南方区域绿证绿电平台交易规模达 1289 亿千瓦时，绿证 需求激增。2 ...

中国三峡新能源（集团）股份有限公司 2025 年第一次临时股东大会 会 议 材 料 中国三峡新能源（集团）股份有限公司 二〇二五年四月 | 三、审议议案 | | --- | 425 会议室 会议安排： 一、参会人签到、股东进行发言登记（9:00-9:50） 二、主持人宣布会议开始 三、主持人向大会报告出席会议的股东人数及其代表 的股份数 四、推选计票人、监票人 会议议程 会议时间：2025 年 4 月 24 日（星期四）上午 10:00 会议地点：北京市通州区粮市街 2 号院成大中心 5 号楼 - 1 - 会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩 序和议事效率，保证大会的顺利进行，公司根据有关法律法 规，特制定本须知。 一、董事会以维护全体股东的合法权益、确保大会正常 秩序和议事效率为原则，认真履行《公司章程》中规定的职 责。 五、审议《关于补选公司董事的议案》 六、股东发言 七、股东投票表决 八、统计表决票 九、工作人员宣读股东大会现场表决结果 十、见证律师宣读法律意见书 十一、现场会议结束 对于涉及公司商业秘密或内幕信息，损害公司、股东共同利 益的提问，主持人或其指定的有关人员有权拒绝回 ...