Market Overview - The electricity sector increased by 0.88% compared to the previous trading day, with Shimao Energy leading the gains [1] - The Shanghai Composite Index closed at 3771.1, up 0.13%, while the Shenzhen Component Index closed at 11919.76, down 0.06% [1] Key Stocks Performance - Shimao Energy (605028) closed at 26.86, up 9.99% with a trading volume of 97,900 shares and a transaction value of 256 million [1] - Huami Environmental (600475) also rose by 9.99% to close at 23.56, with a trading volume of 192,800 shares and a transaction value of 424 million [1] - Huayin Electric (600744) increased by 6.60% to 7.75, with a significant trading volume of 3.75 million shares and a transaction value of 2.86 billion [1] - Other notable performers include Shaanxi Energy (000601) up 5.75% and Shanghai Electric (600021) up 4.03% [1] Capital Flow Analysis - The electricity sector saw a net inflow of 550 million from main funds, while retail investors experienced a net outflow of 166 million [2] - Main funds showed significant net inflows in stocks like Huayin Electric (600744) with 224 million and Shanghai Electric (600021) with 86 million [3] - Conversely, retail investors withdrew from several stocks, including Huami Environmental (600475) and Shaanxi Energy (000601) [3]

金融界8月21日消息，A股三大指数收盘涨跌不一，上证公用指数 (公用指数，000007)上涨0.79%，报 4723.05点，成交额485.75亿元。 数据统计显示，上证公用指数近一个月上涨1.40%，近三个月上涨0.24%，年至今下跌1.61%。 据了解，上海证券交易所对上市公司按其所属行业分成五大类别：工业类、商业类、房地产业类、公用 事业类、综合业类，上证行业分类指数系列由对应行业的符合条件的股票与存托凭证组成样本，反映不 同行业的景气状况及其上市公司整体表现。该指数以1993年04月30日为基日，以1358.78点为基点。 从指数持仓来看，上证公用指数十大权重分别为：京沪高铁（7.16%）、中国核电（5.19%）、中国联 通（4.8%）、华能水电（4.63%）、上港集团（3.72%）、大秦铁路（3.61%）、三峡能源（3.38%）、 中国交建（3.06%）、中国电建（2.96%）、中国国航（2.62%）。 从上证公用指数持仓的市场板块来看，上海证券交易所占比100.00%。 从上证公用指数持仓样本的行业来看，工业占比51.32%、公用事业占比33.44%、通信服务占比9.13%、 可选消费占比1.76 ...

Core Viewpoint - Recently, Guohua (Jiangsu) New Energy Co., Ltd. was established with a registered capital of 1 billion yuan, focusing on wind power and solar power technology services, as well as resource recycling technology research and development [1] Company Summary - Guohua (Jiangsu) New Energy Co., Ltd. has a registered capital of 1 billion yuan [1] - The company is wholly owned by China Energy Investment Corporation indirectly [1] - The business scope includes wind power generation technology services, solar power generation technology services, and resource recycling technology research and development [1]

Group 1 - The core viewpoint of the news highlights the positive performance of the new energy sector, with the Zhongzheng New Energy Index rising by 0.20% and significant gains in constituent stocks such as Sany Heavy Energy and Maiwei Co., Ltd. [1] - The New Energy ETF (159875) has shown strong trading activity, with a turnover rate of 4.82% and a total transaction volume of 41.96 million yuan, indicating robust investor interest [1] - Over the past year, the New Energy ETF has experienced a substantial growth in scale, increasing by 29.30 million yuan, and has achieved a net value increase of 9.12% over the last six months [1] Group 2 - The top ten weighted stocks in the Zhongzheng New Energy Index account for 43.41% of the index, with notable companies including CATL, Sungrow Power Supply, and Longi Green Energy [4] - A recent meeting involving photovoltaic manufacturing companies and industry associations indicates a focus on stabilizing prices and managing competition within the solar industry, with expectations for progress in the third quarter [3] - The approval pace for ultra-high voltage projects is anticipated to accelerate, particularly for projects like the Eastern Tibet-Southern Guangdong and Hong Kong-Macao Greater Bay Area, which will drive demand in the related industrial chain [4]

每经AI快讯，"A股绿色报告"项目监控到的数据显示，中国核电（SH601985）间接控股子公司三门汇核新能源有限公司中核三门 54MW光伏项目环评审批获原则同意。该项目总投资额达3.59亿元。该审批信息于2025年8月5日被相关监管机构披露。 | | 建筑装饰 | | | | --- | --- | --- | --- | | | | | 北京市 | | | 煤炭 | | | | | | | 山西省 | | 环境违法违规 | 有色金属 | 内蒙古自治区 | | | | 电力设备 | | 江苏省 | | | 公用事业 | | 河北省 | | | 家用电器 | | 广东省 | 2024年年报显示，中国核电的主营业务为电力行业、其他业务，占营收比例分别为：97.15%和2.85%。 | 市值(亿元) | 时间 | 2023Y | 2024Y | 202501 | | --- | --- | --- | --- | --- | | 1863.46 | | | | | | | 营业收入 | 749.57 | 772.72 | 202.73 | | 机构持股(占流通盘) | (亿元) | | | | | 87家(0.9% ...

来源：国家能源集团甘肃公司 8月7日以来，甘肃兰州市榆中县等地遭遇连续强降雨引发山洪灾害。灾害发生后，国家能源集团迅速行 动，紧急向甘肃榆中灾区捐款2000万元，全力支援当地的抢险救灾和灾后重建工作。捐款将专项用于灾 区的救援物资采购、受灾群众生活安置以及后续基础设施重建等，帮助受灾群众解决生活困难、尽快恢 复生产生活秩序。 "我们希望通过实际行动为甘肃榆中灾区群众送去温暖，助力他们渡过难关，重建美好家园。"国家能源 集团相关负责人表示。(李小红) ...

Core Insights - A total of 541 stocks in the Shanghai and Shenzhen markets have experienced net outflows of main funds for five consecutive days or more as of August 19 [1] - China Nuclear Power has seen the longest net outflow period at 26 days, followed by Anjie Technology at 21 days [1] - The largest total net outflow amount is from Shobead, with a cumulative outflow of 2.205 billion yuan over 8 days, closely followed by China Nuclear Power with 2.159 billion yuan over 26 days [1] Summary by Category Stocks with Longest Net Outflow - China Nuclear Power: 26 days, 2.159 billion yuan, 9.36% of trading volume, -2.77% cumulative change [1] - Anjie Technology: 21 days, details not specified [1] - Shobead: 8 days, 2.205 billion yuan, 7.97% of trading volume, -0.77% cumulative change [1] Stocks with Significant Net Outflow Amounts - Shobead: 2.205 billion yuan over 8 days [1] - China Nuclear Power: 2.159 billion yuan over 26 days [1] - Tianqi Lithium: 1.930 billion yuan over 6 days [1] Stocks with High Net Outflow Proportions - Guanghui Energy: 21.78% of trading volume over 7 days, with a 3.08% decline [1] - China Nuclear Power: 9.36% of trading volume over 26 days [1] - Tianqi Lithium: 8.50% of trading volume over 6 days [1]

Group 1 - The Shanghai Composite Index opened high and fluctuated, with the CSI 300 Power Index reported at 2572.78 points [1] - The CSI 300 Power Index has decreased by 3.70% in the past month, 5.87% in the past three months, and 6.77% year-to-date [1] - The CSI 300 Index is categorized 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 Electric (48.32%), China Nuclear Power (10.65%), Three Gorges Energy (8.79%), Guodian Power (5.75%), State Power Investment (5.02%), Huaneng International (4.56%), Chuanwei Energy (4.27%), China General Nuclear Power (4.15%), Zhejiang Energy (2.98%), and Huadian International (2.79%) [1] - The market segment of the CSI 300 Power Index is dominated by the Shanghai Stock Exchange at 95.49%, while the Shenzhen Stock Exchange accounts for 4.51% [1] Group 3 - In terms of industry composition within the CSI 300 Power Index, hydropower accounts for 59.96%, thermal power for 16.09%, nuclear power for 14.80%, and wind power for 9.15% [2] - The index sample is 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 [2]

Investment Rating - The report maintains an "Overweight" rating for the utility sector, specifically recommending investment in Changjiang Electric for its high dividend asset allocation value [1]. Core Insights - Changjiang Electric has announced a shareholder dividend return plan for the next five years (2026-2030), committing to a minimum cash dividend of 70% of the annual net profit attributable to shareholders [3]. - The report highlights a decrease in electricity prices, with the average grid purchase price in July 2025 down 3% year-on-year and 1.4% month-on-month [36]. - The report tracks key industry data, including a 3.7% year-on-year increase in total electricity consumption in H1 2025, with total consumption reaching 4.84 trillion kWh [12]. Summary by Sections 1. Market Review - The SW Utility Index fell by 0.55% during the week of August 11-15, 2025, underperforming compared to the ChiNext Index [8]. - Notable stock performances included a 28.7% increase for Fuan Energy and a 9.4% decrease for Huayin Electric [11]. 2. Electricity Sector Tracking 2.1. Electricity Consumption - Total electricity consumption in H1 2025 was 4.84 trillion kWh, reflecting a 3.7% year-on-year increase, with growth in all sectors [12]. 2.2. Power Generation - Total power generation in H1 2025 reached 4.54 trillion kWh, a 0.8% year-on-year increase, with declines in thermal and hydro power generation [21]. 2.3. Electricity Prices - The average grid purchase price in July 2025 was 382 RMB/MWh, down 3% year-on-year [36]. 2.4. Thermal Power - As of August 15, 2025, the price of thermal coal at Qinhuangdao was 698 RMB/ton, down 16.51% year-on-year but up 16 RMB/ton week-on-week [45]. 2.5. Hydropower - The water level at the Three Gorges Reservoir was 160.34 meters as of August 15, 2025, with inflow and outflow rates showing a year-on-year decrease [57]. 2.6. Nuclear Power - In 2024, 11 new nuclear units were approved, indicating a continued positive trend in nuclear power development [72]. 3. Investment Recommendations - The report suggests focusing on high-dividend stocks like Changjiang Electric, as well as opportunities in green energy, photovoltaic assets, and thermal power investments [3].

Core Insights - As of August 18, a total of 618 stocks in the Shanghai and Shenzhen markets have experienced net outflows of main funds for five consecutive days or more [1] - China Nuclear Power leads with 25 consecutive days of net outflows, totaling 2.045 billion yuan [1] - BOE Technology Group follows with 14 days of net outflows amounting to 1.678 billion yuan [1] Summary by Category Stocks with Longest Net Outflows - China Nuclear Power: 25 days, net outflow of 2.045 billion yuan, 9.18% of trading volume, cumulative decline of 2.77% [1] - BOE Technology Group: 14 days, net outflow of 1.678 billion yuan, 7.19% of trading volume, cumulative decline of 3.89% [1] - Tianqi Lithium: 5 days, net outflow of 1.676 billion yuan, 8.27% of trading volume, cumulative decline of 1.00% [1] Stocks with Significant Net Outflows - Shoubei Technology: 7 days, net outflow of 1.541 billion yuan, 6.29% of trading volume, cumulative increase of 9.16% [1] - China Electric Construction: 7 days, net outflow of 1.006 billion yuan, 6.38% of trading volume, cumulative decline of 2.21% [1] - Shanghai Hanxin: 7 days, net outflow of 908 million yuan, 7.49% of trading volume, cumulative increase of 0.87% [1] Stocks with High Outflow Ratios - ST Zhongzhuang: Highest outflow ratio, with a 9.51% decline over the last 6 days [1] - Other notable stocks include: - Aobo Technology: 5 days, net outflow of 578 million yuan, 7.89% of trading volume, cumulative decline of 2.69% [2] - Fengzhang Assistant: 10 days, net outflow of 564 million yuan, 6.93% of trading volume, cumulative decline of 0.08% [2]