Core Viewpoint - Huadian New Energy Group Co., Ltd. is set to become the largest listed company in the renewable energy generation sector in A-shares and the first company under China Huadian to reach a market capitalization of 100 billion yuan [2] Group 1: Company Positioning and Strategy - China Huadian aims to strengthen and optimize state-owned capital by concentrating quality assets in listed companies, achieving professional integration and avoiding competition within the industry [3] - Huadian New Energy leverages China Huadian's leading position in the energy sector and its own long-term operational expertise in renewable energy to create a flagship platform that integrates wind, solar, nuclear, and storage energy [3] - The company has a controlled installed capacity of 68.62 million kilowatts by the end of 2024, maintaining strong momentum in high-quality development [3] Group 2: Fundraising and Investment Plans - The fundraising plan focuses on precise investment, combining centralized and distributed development models, and aims to accelerate the construction of large-scale projects in various renewable energy sectors [4] - The company has over 132 GW of project capacity approved by the National Development and Reform Commission, laying a solid foundation for future growth [4] - Huadian New Energy has secured leading development rights for several clean energy bases, with a planned total installed capacity of nearly 60 million kilowatts [4] Group 3: Market Recognition and IPO Success - The company’s IPO has received widespread market recognition, with 4.969 billion shares issued at a price of 3.18 yuan per share, and a subscription multiple of 978.68 times for offline applications [5][6] - This IPO is the first over 10 billion yuan on the main board since the full registration system was implemented and has the largest strategic placement scale in the power industry [6] - The participation of 18 strategic placement institutions, including national investment funds and state-owned insurance companies, indicates strong confidence in the company's value and growth potential [6] Group 4: Management and Operational Excellence - Huadian New Energy is one of the earliest companies to develop and operate renewable energy generation in China, possessing advanced management capabilities and a sophisticated digital management system [7] - The company reported a revenue of 34 billion yuan in 2024, with a net profit margin of 27.91% and a return on equity of 10.16%, leading the industry in profitability metrics [7] - The listing marks a new phase of deep integration between large-scale energy transition and capital markets, with the company committed to supporting national carbon neutrality goals and delivering value to investors [7]

Group 1 - The announcement date for the fund's income distribution plan is July 10, 2025 [1] - The fund's income distribution method includes cash dividends and reinvestment of dividends, with a default cash distribution for investors who do not specify a preference [1] - Investors can modify their dividend distribution method during trading hours on each fund trading day, with the last choice before the record date being effective [1] Group 2 - On July 10, 2025, the company announced that some of its funds participated in the offline subscription for the initial public offering of Huadian New Energy Group Co., Ltd. (stock code 600930) [2] - The issue price for the IPO was set at 3.18 yuan per share, determined through a comprehensive consideration of various factors including the issuer's fundamentals and market conditions [2] - The lead underwriter for this issuance is Guotai Junan Securities Co., Ltd., which is a shareholder of the company [2]

Core Viewpoint - The recent capital operations among state-owned enterprises (SOEs) in the renewable energy sector are expected to enhance industry concentration, reshape the competitive landscape, and foster the development of leading companies with global influence [1][4]. Group 1: Company Developments - Huadian New Energy officially listed on the Shanghai Stock Exchange on July 16, raising 18.171 billion yuan with an issue price of 3.18 yuan per share, with 50% of the shares allocated to strategic investors [1]. - China Resources Power's spinoff, China Resources New Energy, is in a critical phase of its IPO process, aiming to raise 24.5 billion yuan for wind and solar power projects [2]. - China Power Construction Corporation plans to spin off its subsidiary, Power Construction New Energy, for listing, potentially becoming another new star in the SOE renewable energy sector [2]. Group 2: Industry Trends - The renewable energy sector is transitioning from scale expansion to quality improvement, with competition shifting from market share to technology, capital, and resource integration capabilities [2][3]. - The restructuring projects initiated by the five major power groups are expected to exceed 100 billion yuan by the first quarter of 2025, covering nuclear power and renewable energy [2]. - The market for mergers and acquisitions in the renewable energy sector is anticipated to remain active, focusing on strategic integration and enhancing concentration towards leading companies [3]. Group 3: Operational Strategies - Experts emphasize the need for SOEs to enhance their operational capabilities in the renewable energy sector, focusing on refining operations and deepening the value chain [4][5]. - Future strategies for SOEs should include divesting inefficient assets, promoting high-end business development, and expanding into international markets to enhance global competitiveness [4]. - The current wave of capital operations is driven by policy guidance, market competition, and industry development trends, aiming to accelerate technological upgrades and improve resource integration across the supply chain [4][5].

Core Viewpoint - Huadian New Energy is positioned as the sole platform for the integration of wind and solar power within China Huadian Group, showcasing significant growth in the renewable energy sector with a total installed capacity of 68.62 million kilowatts, accounting for approximately 5% of the national renewable energy capacity, and over 10 billion yuan in annual profits [2][3] Group 1: Company Growth and Strategy - The establishment of Huadian New Energy stems from a strategic integration plan by China Huadian to create a specialized platform for renewable energy investment, aiming to eliminate competition within the group and optimize capital allocation [3] - The company has achieved a substantial increase in annual installed capacity, growing from 7 million kilowatts to nearly 20 million kilowatts, with an annual electricity generation growth rate exceeding 30% and revenue growth rate close to 20% [3][4] - Huadian New Energy has a balanced asset distribution across 31 provinces, with wind power capacity reaching 32.02 million kilowatts and solar power capacity at 36.59 million kilowatts, placing it among the industry leaders [3][4] Group 2: Project Funding and Focus Areas - The company plans to raise 18 billion yuan for investment in high-quality projects, focusing on four main areas: large-scale wind and solar projects, new power system coordination projects, local consumption load center projects, and green ecological civilization projects [5][6][7] - The first category targets clean energy bases in regions like Xinjiang and the Yellow River upstream, while the second category emphasizes energy storage solutions to address the volatility of wind and solar power [6] - The third category focuses on projects that are close to user demand, particularly in central and coastal regions, while the fourth category includes projects that align with ecological restoration and carbon neutrality goals [7] Group 3: Industry Challenges and Strategic Responses - Huadian New Energy is adapting to the rapid development of the renewable energy sector and the refined assessment requirements from the State-owned Assets Supervision and Administration Commission by focusing on strategic alignment, capability enhancement, and innovative mechanisms [8] - The company has restructured its investment evaluation model to shift from resource-oriented to market-oriented approaches, enhancing operational efficiency through digital management platforms [8][9] - The internal assessment mechanism links every stage of project development to value creation and risk control, reflecting a long-term, stable growth mindset rather than short-term expansion [9] Group 4: Market Positioning and Future Outlook - The company aims to align its development with national strategies and system demands, contributing to energy supply security and green transformation while strengthening its market position [9] - Huadian New Energy emphasizes transparent information disclosure and effective communication with investors to attract long-term institutional investment, aiming for a mutually beneficial relationship between corporate growth and investor returns [9]

每经记者｜闫峰峰 每经编辑｜吴永久 各位老铁，近期的新股可是让中签的投资者收益颇丰，如7月10日上市的同宇新材，即便其发行价高达 84元，其在上市首日也上涨了128.1%，以收盘价计算，中一签的投资者可以赚53780元！这是妥妥的大 肉签。 而明日又将迎来一只特殊的新股，那就是华电新能，它是具有央企背景的新能源巨头。值得注意的是， 其募集金额高达181.71亿元，这一募资金额也创出了近两年A股IPO金额之最，而其发行价仅为3.18元， 更是创下A股近3年新低！ 值得注意的是，华电新能共有4,389,234个中签号码，根据中签号码数量估算可能有数百万中签股民！那 么，华电新能明日上市有哪些看点呢？ 中国华电唯一风光电整合平台，国内新能源发电运营巨头 如果华电新能在上市首日能够达到近期上市新股的平均涨幅或涨幅中位数，那么其上市首日的涨幅重要 参考区间是171.32%~260.74%。 其次，从估值的角度来看，华电新能具有一定估值优势。新股雷达数据显示，华电新能发行市盈率为 14.49倍，华电新能的可比公司为龙源电力、三峡能源、节能风电、太阳能，可比公司平均动态市盈率 为18.79倍。华电新能动态市盈率比可比公司平 ...

联席保荐人（联席主承销商） 华电新能源集团股份有限公司 首次公开发行股票主板 上市公告书提示性公告 联席保荐人（联席主承销商） ：中国国际金融股份有限公司 ：华泰联合证券有限责任公司 联席主承销商：中信证券股份有限公司 联席主承销商：中信建投证券股份有限公司 联席主承销商：国泰海通证券股份有限公司 联席主承销商：川财证券有限责任公司 扫描二维码查阅公告全文 本公司及全体董事、监事、高级管理人员保证信息披露的内容真实、准确、 完整、及时，没有虚假记载、误导性陈述或重大遗漏。 经上海证券交易所审核同意，华电新能源集团股份有限公司（以下简称"本 公司"、"华电新能"或"发行人"）发行的人民币普通股股票将于2025年7月 明书在上海证券交易所网站（http://www.sse.com.cn/）和符合中国证监会规定条 件网站（中证网：http://www.cs.com.cn；中国证券网：http://www.cnstock.com； 证券时报网：http://www.stcn.com；证券日报网：http://www.zqrb.cn；经济参考 网：https://www.jjckb.cn）披露，供投资者查阅。 一、上市 ...

股票简称：华电新能 股票代码：600930 华电新能源集团股份有限公司 Huadian New Energy Group Corporation Limited （福建省福州市鼓楼区五四路75号福建外贸大厦32层02单元） 首次公开发行股票主板上市公告书 联席保荐机构（主承销商） 北京市朝阳区建国门外大街 1 号 国贸大厦 2 座 27 层及 28 层 深圳市前海深港合作区南山街道桂湾五 路 128 号前海深港基金小镇 B7 栋 401 联席主承销商 中国（四川）自由贸易试验区成都 市高新区交子大道 177 号 中海国际中心 B 座 17 楼 广东省深圳市福田区中心三路 8 号 卓越时代广场（二期）北座 二〇二五年七月十五日 北京市朝阳区安立路 66 号 4 号楼 中国（上海）自由贸易 试验区商城路 618 号 特别提示 华电新能源集团股份有限公司（以下简称"华电新能"、"本公司"、"发行人" 或"公司"）股票将于 2025 年 7 月 16 日在上海证券交易所主板上市。 本公司提醒投资者应充分了解股票市场风险及本公司披露的风险因素，在新股上市 初期切忌盲目跟风"炒新"，应当审慎决策、理性投资。 2 第一节 ...

华电新能源集团股份有限公司 首次公开发行股票主板 上市公告书提示性公告 联席保荐人（联席主承销商）：中国国际金融股份有限公司 联席保荐人（联席主承销商）：华泰联合证券有限责任公司 联席主承销商：中信证券股份有限公司 联席主承销商：中信建投证券股份有限公司 联席主承销商：国泰海通证券股份有限公司 联席主承销商：川财证券有限责任公司 扫描二维码查阅公告全文 本公司及全体董事、监事、高级管理人员保证信息披露的内容真实、准确、 完整、及时，没有虚假记载、误导性陈述或重大遗漏。 经上海证券交易所审核同意，华电新能源集团股份有限公司（以下简称"本 公司"、"华电新能"或"发行人"）发行的人民币普通股股票将于2025年7月 16日在上海证券交易所主板上市，上市公告书全文和首次公开发行股票的招股说 明书在上海证券交易所网站（http://www.sse.com.cn/）和符合中国证监会规定条 件网站（中证网：http://www.cs.com.cn；中国证券网：http://www.cnstock.com； 证券时报网：http://www.stcn.com；证券日报网：http://www.zqrb.cn；经济参考 网：h ...

(草案) (上市后适用) 录 目 | 第一章 总 则. | | --- | | 第二章 经营宗旨和范围。 | | 第三章 10 // | | 第一节 股份发行 . | | 第二节 股份增减和回购 | | 第三节 股份转让 … | | 第四章 股东和股东大会 | | 第一节 股东 . | | 第二节 股东大会的一般规定 | | 第三节 股东人会的召集 | | 第四节 股东大会的提案与通知 . | | 第五节 股东大会的召开 | | 第六节 股东大会的表决和决议 . | | 第五章 党委 . | | 第六章 董事会. | | 第一节 董事 | | 第二节 董事会 | | 第七章 总经理及其他高级管理人员 . | | 第八章 监事会 | | 第一节 监事 . | | 第二节 监事会 | | 第九章 职工民主管理与劳动人事制度 | | 第十章 财务会计制度、利润分配、审计和法律顾问制度 | | 第一节 财务会计制度 . | | 第二节 内部审计 ……………………………………………………………………………………………………………………………………………………………………………………………………………………………………… ...

地域分布来看，今年已发行新股主要集中在江苏、广东、浙江，分别有12家、10家、10家公司，募资金 额排名居前的分别是福建、浙江、广东，年内募资金额分别为158.01亿元、96.93亿元、72.99亿元。 （数据宝） 今年以来已发行新股 2只新股今日发行，技源集团发行5001.00万股，发行价10.88元，募资金额5.44亿元；山大电力发行 4072.00万股，发行价14.66元，募资金额5.97亿元。 证券时报·数据宝统计显示，以发行日期为基准，截至7月14日，今年以来共有52家公司首发募资，累计 募资金额达557.55亿元，单家公司平均募集资金10.72亿元。分区间来看，募资金额超10亿元的有11家， 其中，募资金额超百亿元的有1家，募资金额5亿元至10亿元的有22家，募集资金在5亿元以下的有19 家。 按不同板块统计，今年以来沪市主板发行新股13只，募资301.06亿元；深市主板发行新股7只，募资 37.61亿元；创业板发行新股20只，募资120.25亿元；科创板发行新股7只，募资79.01亿元；北交所发行 新股5只，募资19.63亿元。 华电新能为今年以来募资金额最多的公司，首发募集资金达158.01亿 ...