Financial Performance - Jinling Mining reported a net profit of 220 million yuan for the first three quarters, representing a year-on-year increase of 47.09% [1] - Northern Rare Earth expects a net profit of 1.51 billion to 1.57 billion yuan for the first three quarters, a year-on-year increase of 272.54% to 287.34% [2] - Chuanjinno anticipates a net profit of 290 million to 310 million yuan for the first three quarters, with a year-on-year growth of 162.56% to 180.66% [3] - Allwinner Technology expects a net profit of 260 million to 290 million yuan for the first three quarters, a year-on-year increase of 72.20% to 92.06% [15] - Youyan New Materials forecasts a net profit of 230 million to 260 million yuan for the first three quarters, a year-on-year growth of 101% to 127% [16] - Qianyuan Electric anticipates a net profit of 451 million to 531 million yuan for the first three quarters, representing a year-on-year increase of 70% to 100% [18] Corporate Actions - Aowei New Materials announced that its stock will resume trading on October 13 after a suspension due to unusual trading fluctuations [4] - Dongxin Co. plans to transfer 13.2675 million shares, accounting for 3.00% of the total share capital, through a pricing inquiry [5] - Xibei Securities announced the resignation of its fund manager due to retirement [6] - Aviation Control reported the resignation of its vice chairman due to job relocation [7] - BOE Technology Group announced the resignation of its vice chairman for personal reasons [9] - Standard Shares reported the resignation of its chairman due to work adjustments [10] - Kent Shares announced the resignation of its deputy general manager for personal reasons [10] Strategic Developments - Keda Li plans to establish a wholly-owned subsidiary in Hong Kong with an investment of up to 3 million HKD to enhance its international presence [13] - Jiekang Equipment completed the acquisition of 51% of Shandong Carbon Seeking's shares, which will be included in its consolidated financial statements [12] - China Energy Construction signed three total contracting projects for wind and solar power in Saudi Arabia, with a total contract value of approximately 19.554 billion yuan [14]

Core Viewpoint - China Energy Construction (03996) has signed three new energy general contracting agreements with a consortium involving Saudi companies, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1: Contract Details - The contracts include the following projects: - The Shakila 1GW Wind Power Project under Saudi PIF, with a contract value of $663 million and a construction period of 26 months [1] - The Stella 2GW Wind Power Project under Saudi PIF, with a contract value of $1.251 billion and a construction period of 30 months [1] - The Folis 2GW Photovoltaic Project under Saudi PIF, with a contract value of $831 million and a construction period of 26 months [1]

Core Viewpoint - China Energy Engineering Corporation (03996.HK) has signed three new energy general contracting agreements with a consortium of Saudi companies, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1: Contract Details - The contracts include the following projects: - Shakila 1GW Wind Power Project: Contract amount of $663 million, with a construction period of 26 months [1] - Stella 2GW Wind Power Project: Contract amount of $1.251 billion, with a construction period of 30 months [1] - Folis 2GW Photovoltaic Project: Contract amount of $831 million, with a construction period of 26 months [1]

Core Viewpoint - China Energy Construction (03996) has signed three new energy general contracting agreements with a consortium involving Saudi companies, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1: Contract Details - The contracts include the following projects: - Shakila 1GW Wind Power Project, with a contract value of $663 million and a construction period of 26 months [1] - Stella 2GW Wind Power Project, with a contract value of $1.251 billion and a construction period of 30 months [1] - Foris 2GW Photovoltaic Project, with a contract value of $831 million and a construction period of 26 months [1]

证书编号：S1080524120001 电话：0755-23838533 邮箱：guoqiang@fcsc.com 风险提示：政策变动风险，市场机制完善不及预期的风险，并网消纳风险，下游 需求不如预期，原材料价格上涨超预期等。 请务必阅读正文后免责条款部分 证券研究报告 行业研究 2025 年 10 月 10 日 储能的结构性需求确立，经济性加速兑现，推动储能 行业景气度继续维持高位 第一创业证券研究所 第 1 页 共 7 页 核心观点： 新能源发电并网比例的迅速提高使储能从"可选项"变为"必选项"。以欧 盟为例，随着新能源发电占比达到 28.5%，出现了一系列问题：电价波动与 "负电价"问题；弃风弃光现象频发；系统惯量与频率质量承压；配电网承 载能力不足等。这些问题的共性根因有：时间错配；空间错配；同步机组退 出现象与系统惯量供给缺口；市场与规制配套不到位等。据 ENTSO-E 测算， 在欧盟层面，如果到 2030 年前额外配置约 56GW 储能，可将系统弃风弃光减 少约 30TWh/年，年度系统成本降低 80 亿欧元，每年减少约 1900 万吨二氧化 碳排放量。 分析师：郭强 电力系统的储能配套建设分为两 ...

中国能建（601868）(601868.SH)发布公告，近日，公司所属子公司中能建国际建设集团有限公司、中 国能源建设集团广东火电工程有限公司、中国电力工程顾问集团西北电力设计院有限公司组建的联营 体，与沙特国际电力和水务公司、沙特公共投资基金、沙特阿美电力公司成立的项目公司，签署了3份 新能源总承包工程合同，合同金额合计约27.45亿美元，折合人民币约195.54亿元。 ...

Core Viewpoint - China Energy Engineering Corporation (601868.SH) announced the signing of three new energy general contracting agreements with a consortium formed by its subsidiaries and Saudi companies, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1 - The consortium includes China Energy Construction International Group Co., Ltd., China Energy Construction Group Guangdong Thermal Power Engineering Co., Ltd., and Northwest Electric Power Design Institute Co., Ltd. [1] - The project partners are Saudi International Power and Water Company, Saudi Public Investment Fund, and Saudi Aramco Power Company [1] - The total contract amount is approximately $2.745 billion, which converts to around 19.554 billion RMB [1]

中国能源建设股份有限公司 敬请投资者注意投资风险。 A 股代码：601868 A 股简称：中国能建 编号：临 2025-051 H 股代码：03996 H 股简称：中国能源建设 签署重大合同的公告 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。 近日，中国能源建设股份有限公司所属子公司中能建国际建 设集团有限公司、中国能源建设集团广东火电工程有限公司、中 国电力工程顾问集团西北电力设计院有限公司组建的联营体，与 沙特国际电力和水务公司、沙特公共投资基金、沙特阿美电力公 司成立的项目公司，签署了3份新能源总承包工程合同，合同金 额合计约27.45亿美元，折合人民币约195.54亿元。具体情况如 下： | 序号 | | | 合同名称 | | 合同金额 （亿美元） | | 项目 建设期 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 沙特 | PIF | 五期夏奇拉 1GW 工程总承包合同 | 风电项目 | 6.63 | 26 | 个月 | | 2 | 沙特 | ...

Core Viewpoint - China Energy Engineering Corporation (601868) announced the signing of three new energy general contracting agreements with a consortium involving Saudi companies, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1 - The consortium includes subsidiaries of China Energy Engineering Corporation: China Energy Construction International Group Co., Ltd., China Energy Construction Group Guangdong Thermal Power Engineering Co., Ltd., and Northwest Electric Power Design Institute Co., Ltd. [1] - The project partners from Saudi Arabia include Saudi International Power and Water Company, Saudi Public Investment Fund, and Saudi Aramco Power Company [1] - The total contract amount of approximately $2.745 billion reflects a significant investment in renewable energy projects [1]

格隆汇10月10日｜中国能建(601868.SH)公告称，公司所属子公司组成的联营体与沙特国际电力和水务 公司等成立的项目公司签署了3份新能源总承包工程合同，合同金额合计约27.45亿美元，折合人民币约 195.54亿元。其中，沙特PIF五期夏奇拉1GW风电项目合同金额6.63亿美元，建设期26个月；沙特PIF五 期斯特拉2GW风电项目合同金额12.51亿美元，建设期30个月；沙特PIF六期福里斯2GW光伏项目合同 金额8.31亿美元，建设期26个月。 ...