智通财经APP讯，中国能建(601868.SH)发布公告，2025年12月16日，公司投资建设的全球最大规模绿 色氢氨醇一体化项目——中能建松原氢能产业园(绿色氢氨醇一体化)项目一期工程正式投产运行。 该项目投产后，可实现年产4.5万吨绿氢以及20万吨绿氨和绿色甲醇的产能，相当于每年节约标准煤约 60万吨，减少二氧化碳排放74万吨，实现绿电就地消纳和高附加值转化。 ...

Core Viewpoint - The announcement highlights the commencement of operations for the world's largest integrated green hydrogen and ammonia project, the Zhongnengjian Songyuan Hydrogen Energy Industrial Park, with a total investment of 6.946 billion yuan [1] Group 1: Project Overview - The first phase of the Songyuan project began construction in September 2023 [1] - The project includes the installation of 800,000 kilowatts of renewable energy generation capacity, comprising 750,000 kilowatts from wind power and 50,000 kilowatts from solar power [1] - The project utilizes an innovative technology route that integrates wind and solar direct supply, energy storage peak regulation, efficient electrolysis for hydrogen production, and dynamic ammonia synthesis [1] Group 2: Production Capacity - Upon completion, the project is expected to achieve an annual production capacity of 45,000 tons of green hydrogen, 200,000 tons of green ammonia, and green methanol [1]

格隆汇12月16日丨中国能建(601868.SH)公布，2025年12月16日，公司投资建设的全球最大规模绿色氢 氨醇一体化项目——中能建松原氢能产业园(绿色氢氨醇一体化)项目一期工程(以下简称松原项目一期或 本项目)正式投产运行。 本项目投产后，可实现年产4.5万吨绿氢以及20万吨绿氨和绿色甲醇的产能，相当于每年节约标准煤约 60万吨，减少二氧化碳排放74万吨，实现绿电就地消纳和高附加值转化。 松原项目一期工程于2023年9月开工建设，总投资69.46亿元，建设内容包括80万千瓦新能源发电(其中 风电75万千瓦、光伏5万千瓦)，2025年12月1日项目建成并首次成功生产绿氢，2025年12月16日正式投 产运行。 ...

| 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | | 2025-12-16 | 中国能建 | 601868 | 2.13 185.31 87 | 有限公司法国语 | 国元证券股份有限 公司深圳深量大量 | 12月16日，中国能建大宗交易成交87万股，成交额185.31万元，占当日总成交额的0.36%，成交价2.13元，较市场收盘价2.32元折价8.19%。 ...

Core Viewpoint - The "Qing Hydrogen No. 1" project in Songyuan, Jilin, has officially commenced production, marking it as the world's largest integrated green hydrogen and ammonia-methanol project, providing significant technological support for large-scale hydrogen production and green ammonia-methanol integration in China [1] Group 1: Project Overview - The Songyuan project began construction in September 2023 and has now completed its first phase of production [1] - The project is expected to produce 45,000 tons of green hydrogen, 200,000 tons of green ammonia, and green methanol annually [1] Group 2: Environmental Impact - The project is projected to save approximately 600,000 tons of standard coal each year [1] - It is estimated to reduce carbon emissions by 1.4 million tons annually [1] Group 3: Technological Advancements - Multiple technologies utilized in the project fill domestic gaps, enhancing China's capabilities in hydrogen production and green ammonia-methanol integration [1]

Group 1 - The establishment of Nengcheng Juliyi (Tianjin) Enterprise Management Partnership (Limited Partnership) with a registered capital of 3.125 billion yuan [1] - The business scope includes enterprise management and enterprise management consulting [1] - The partnership is jointly funded by Beijing Chengtong Capital Investment Co., Ltd., a wholly-owned subsidiary of China Chengtong Holdings Group, and China Energy Engineering Group Co., Ltd. along with its subsidiary, China Energy Construction Fund Management Co., Ltd. [1]

Group 1 - The establishment of Nengcheng Juliyi (Tianjin) Enterprise Management Partnership (Limited Partnership) with a registered capital of 3.125 billion yuan [1] - The business scope includes enterprise management and enterprise management consulting [1] - The company is jointly funded by Beijing Chengtong Capital Investment Co., Ltd., a wholly-owned subsidiary of China Chengtong Holdings Group Co., Ltd., and China Energy Engineering Group Co., Ltd. along with its subsidiary, China Energy Construction Fund Management Co., Ltd. [1]

Core Points - The commencement of the 300 MW solar power project in Kazakhstan marks the largest single capacity solar project and the first energy storage project in the country, developed by China Energy Engineering Group [1][2] - The project is part of the cooperation framework between China and Kazakhstan in renewable energy, aiming to enhance bilateral strategic collaboration and contribute to Kazakhstan's energy security and low-carbon transition [1][2] Group 1 - The project has a total investment of approximately $307 million and is expected to generate about 674 million kWh of clean electricity annually, equivalent to saving around 140 million cubic meters of natural gas and reducing CO2 emissions by approximately 2.6 million tons [2] - The project is the first "solar + storage" initiative planned in Kazakhstan and represents a significant achievement in the implementation of the intergovernmental framework agreement following the Shanghai Cooperation Organization summit [2][1] - The project is supported by key figures including the Chinese ambassador to Kazakhstan and the chairman of the Samruk-Kazyna National Wealth Fund, highlighting its importance in deepening strategic cooperation between the two countries [1][2]

Investment Rating - The report maintains a "stronger than the market" investment rating for the construction and decoration industry [3]. Core Viewpoints - The Central Economic Conference has set the tone for "dual easing," indicating that incremental policies and key projects are expected to advance [12][13]. - There is a significant increase in special bond net financing, with a cumulative net financing of 3.88 trillion yuan as of December 13, 2025, which is higher than the same period in the previous three years [13]. - The macroeconomic focus remains on stable growth, with expectations for further policies to promote infrastructure and real estate demand in the coming year [12]. Summary by Sections 1. Industry Viewpoints and Investment Recommendations - The construction and decoration index fell by 1.59% last week, with specific sectors like landscaping engineering (+1.74%) and municipal engineering (+0.20%) performing better [12]. - The Central Economic Conference emphasized a more proactive fiscal policy and moderately loose monetary policy, suggesting that strategic projects will accelerate [12]. - The report identifies three main investment lines: 1. Recommend state-owned enterprises benefiting from national key projects, such as China Railway Construction and China State Construction [17]. 2. Focus on high-prosperity segments related to major strategic projects, recommending companies like High Hope Explosive and China Railway Industry [17]. 3. Support for companies transitioning to new productive forces like AI and robotics, recommending firms such as Roman Holdings and Hongrun Construction [17]. 2. Market Review - The report notes that the special bond issuance has completed 103% of the annual issuance target, with a total of 4.54 trillion yuan issued [13][16]. - The construction sector's performance is tracked, with specific stocks showing significant gains, such as Yaxiang Integration (+25.2%) and Hexin Instruments (+13.4%) [23]. 3. Key Company Dynamics - The report tracks significant company announcements, including China Chemical's nylon new material project achieving full production capacity and Shanghai Construction's provision of guarantees totaling 63.89 billion yuan [30]. 4. Industry Valuation Status - As of December 12, 2025, the PE ratios for various construction sub-sectors are as follows: housing construction (6.25x), municipal engineering (7.89x), and chemical engineering (10.56x) [31].

经济观察网据央视新闻消息，12月16日，据中国能建（601868），全球规模最大的绿色氢氨醇一体化项 目——"青氢一号"松原项目一期工程在吉林松原正式投产，项目多项技术填补了国内空白，为我国规模 化制氢和绿色氢氨醇一体化发展提供了技术支撑。松原项目于2023年9月开工，一期项目投产后，每年 可生产4.5万吨绿氢、20万吨绿氨和绿色甲醇，相当于节约标准煤约60万吨，年减碳量达140万吨。 ...