Company Insights - The power sector has shown significant gains, with companies like Shaoneng Co., Shenzhen Nanshan Electric A, and Huayin Power hitting the daily limit up, while GCL-Poly Energy surged over 8% [1] - Huayin Power has achieved three limit-up trades in the last four trading days, and the company announced that its operations are normal with no significant changes in the internal and external business environment [1] - Huayin Power expects a net profit attributable to shareholders of 180 million to 220 million yuan for the first half of 2025, an increase of 175 million to 215 million yuan compared to the same period last year [1] Industry Insights - The National Development and Reform Commission (NDRC) anticipates a year-on-year increase of approximately 10 million kilowatts in the highest electricity load during the summer peak in 2025 [1] - The power sector is expected to see profitability improvements and value reassessment following multiple rounds of electricity supply-demand tensions [2] - The ongoing market-oriented reforms in the electricity sector are likely to lead to a stable but slight increase in electricity prices, with the promotion of electricity spot markets and auxiliary service market mechanisms [2] - The introduction of a capacity price mechanism reinforces the foundational role of coal power, while the NDRC's efforts to enhance long-term coal supply agreements are expected to improve the actual performance rate of these agreements [2] - The outlook for power operators' performance is optimistic, with expectations of significant improvements in their financial results [2]

Core Insights - Jiangsu's power grid reached a historical peak load of 14,996 MW on July 3, 2023, supported by a record output of 6,047 MW from wind and solar energy, marking a significant milestone for the region's summer peak electricity demand management [1][2] - The peak load this year arrived five days earlier than in 2024, driven by high temperatures and increased electricity consumption from air conditioning and industrial production [1][2] Group 1: Electricity Demand and Supply - The maximum external electricity supply to Jiangsu reached 2,248 MW, accounting for 15.8% of the peak load on July 3, 2023, with the Three Gorges hydropower project operating at full capacity for the first time this year [2] - As of the end of May, Jiangsu's installed renewable energy capacity exceeded 10,885 MW, representing over 48% of the province's total installed capacity, with wind and solar contributing 45.5% of the total power output on July 3 [2] Group 2: Infrastructure and Economic Growth - The State Grid Jiangsu Electric Power Company completed 13 key projects to enhance the power grid's capacity before the summer peak, adding 369.12 kilometers of 500 kV and above transmission lines and 5.36 million kVA of transformer capacity [2] - Jiangsu's GDP grew from 11.74 trillion yuan in 2021 to 13.7 trillion yuan in 2024, a 16.96% increase, while electricity load rose from 12,042 MW in 2021 to 14,996 MW in 2023, reflecting a 24.5% increase, indicating a strong correlation between economic growth and electricity demand [2]

Group 1: New Energy Vehicles Development - Jiangsu Province's new energy vehicle industry is experiencing rapid growth, with 394,000 new energy vehicles registered from January to May this year, achieving a market penetration rate of 45.1% [1] - As of the end of May, the total number of new energy vehicles in Jiangsu reached 3.085 million [1] - The province has built 1.932 million charging piles, but some rural areas still face challenges with charging accessibility [1][2] Group 2: Charging Infrastructure Improvement - To address the charging difficulties, five counties in Jiangsu have been selected as pilot areas for enhancing charging infrastructure, with plans to install approximately 2,200 high-power charging piles over the next three years [1][2] - Each pilot county has developed specific action plans to identify weak areas and establish standards for infrastructure improvement [2] Group 3: Challenges in New Energy Vehicle Adoption - Issues such as the incompatibility of new energy vehicle sizes with existing mechanical parking systems have been raised, necessitating a review of parking standards [2] - The provincial government plans to collaborate with relevant departments to improve mandatory standards for parking facilities and enhance safety measures for new energy vehicle users [2] Group 4: Support for Small and Medium Enterprises (SMEs) - The provincial government emphasizes the importance of cultivating innovative SMEs, which are seen as foundational to the economy, with specific criteria for recognition as innovative enterprises [3][4] - Policies have been introduced to support the development of specialized and innovative SMEs, including financial assistance through low-interest loans, with over 31,000 enterprises benefiting from 21.616 billion yuan in loans this year [4] Group 5: Gradual Development Mechanism for SMEs - Jiangsu has established a tiered cultivation system for SMEs, progressing from innovative SMEs to specialized and innovative "little giant" enterprises [5] - The provincial government aims to assist SMEs in identifying weaknesses and positioning themselves for growth towards specialized and innovative status [5]

Core Viewpoint - The news highlights the recent research conducted by QuanGuo Fund on Jiangsu XinNeng, focusing on the company's performance in the renewable energy sector and its future project considerations [1] Group 1: Company Performance - In Q1 2025, Jiangsu XinNeng's wind power generation was 877 million kWh, a year-on-year decrease of 17.19% due to poor wind conditions [1] - The company has participated in green electricity trading, with a trading volume of approximately 460,000 kWh at a price of 0.43 yuan/kWh in 2024 [1] - The average self-consumption ratio of the company's distributed photovoltaic projects exceeds 70%, with no restrictions on surplus electricity fed into the grid [1] Group 2: Market Conditions - In the Jiangsu electricity market, the weighted average price for wind power was 407.03 yuan/MWh, while for photovoltaic it was 407.59 yuan/MWh, compared to 413.15 yuan/MWh for thermal power and 409.66 yuan/MWh for nuclear power [1] - As of April 2025, the average trading price for green certificates was 2.31 yuan per certificate, reflecting a 63.24% increase month-on-month [1] Group 3: Future Considerations - The company will consider project costs, electricity prices, and local consumption levels when developing new renewable energy projects [1] - Emphasis will be placed on project site selection and equipment choice to ensure technical reliability and economic feasibility [1]

证券代码：603693 证券简称：江苏新能 公告编号：2025-025 特此公告。 江苏省新能源开发股份有限公司董事会 2025 年 6 月 17 日 1 江苏省新能源开发股份有限公司 关于国信溧阳储能电站项目并网的公告 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。 2025 年 6 月 13 日，江苏省新能源开发股份有限公司（以下简称"公司"） 全资子公司江苏新能常储科技有限公司投资建设的国信溧阳 100MW/200MWh 储能 电站项目顺利并网。 国信溧阳 100MW/200MWh 储能电站项目位于江苏省溧阳市别桥镇北山南路东 侧，为独立储能电站项目，采用非步入式液冷磷酸铁锂储能技术路线。项目将利 用电化学储能快速响应的特点和良好的调峰性能，参与电网调峰运行，促进新能 源消纳，起到缓解电网调峰压力的作用。 ...

Core Viewpoint - Jiangsu New Energy Development Co., Ltd. announced a cash dividend distribution of 0.15 CNY per share (before tax) for its A-shares, totaling approximately 133.72 million CNY to be distributed to shareholders [1][3]. Dividend Distribution Details - The cash dividend of 0.15 CNY per share will be distributed based on a total share capital of 891,475,880 shares [3]. - The record date for shareholders is June 19, 2025, with the last trading day and ex-dividend date both set for June 20, 2025 [3]. Tax Implications - For individual shareholders holding unrestricted circulating shares, the actual cash dividend after tax varies based on the holding period: - Holding period within 1 month: 0.12 CNY per share after a 20% tax [5]. - Holding period between 1 month and 1 year: 0.135 CNY per share after a 10% tax [5]. - Holding period over 1 year: 0.15 CNY per share, exempt from personal income tax [5]. - Qualified Foreign Institutional Investors (QFII) will receive a net dividend of 0.135 CNY per share after a 10% corporate income tax withholding [6]. - Hong Kong investors will also receive a net dividend of 0.135 CNY per share after a 10% tax withholding, with provisions for tax treaty benefits [6]. Implementation Method - The dividends will be distributed through China Securities Depository and Clearing Corporation Limited, Shanghai Branch, to shareholders registered by the record date [3][7]. - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [3].

Core Viewpoint - Jiangsu New Energy Development Co., Ltd. has elected Mr. Chen Hua as the chairman of its fourth board of directors, with unanimous support from the board members [1]. Group 1: Election Announcement - The fourth board of directors of Jiangsu New Energy held its ninth meeting on June 13, 2025, where the proposal to elect the chairman was approved with 8 votes in favor, 0 against, and 0 abstentions [1]. - Mr. Chen Hua will also serve as the chairman of the strategic committee of the fourth board, with his term lasting until the end of the current board's tenure [1]. - The company will promptly complete the legal registration process for the change of the legal representative to Mr. Chen Hua [1]. Group 2: Biography of Chen Hua - Mr. Chen Hua, born in December 1974, holds a master's degree and has held various positions in government and corporate sectors, including roles in the Jiangsu provincial government and as the party secretary of Jiangsu New Energy [2]. - He has been the general manager and deputy secretary of the party committee of Jiangsu New Energy and has served as a director since August 2021 [2]. - As of the announcement date, Mr. Chen Hua does not hold any shares in the company and has not faced any penalties from the China Securities Regulatory Commission or other relevant authorities [2].

证券代码：603693 证券简称：江苏新能 公告编号：2025-023 江苏省新能源开发股份有限公司 关于选举董事长的公告 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。 1 附件： 简历 陈华，男，1974 年 12 月出生，中国国籍，硕士研究生学历。曾任江苏省句 容市委办综合科副科长、句容市委办公室副主任；江苏省镇江市委办综合二处干 部、综合二处副处长、综合四处处长；江苏省纪委第六纪检监察室干部、主任科 员；江苏省粮食局办公室主任科员、办公室副主任（副处级）、政策法规处副处 长；江苏省第九、十批科技镇长团姜堰团团长、姜堰区副区长（挂职）；江苏省 国信集团有限公司发展改革研究室副主任、党政办公室副主任；江苏省新能源开 发股份有限公司党委书记等职务。现任江苏省新能源开发股份有限公司总经理、 党委副书记。2021 年 8 月至今，任江苏省新能源开发股份有限公司董事。截至 本公告披露日，陈华先生未持有公司股票，不存在受到中国证监会及其他有关部 门的处罚或证券交易所惩戒的情形。 2 江苏省新能源开发股份有限公司（以下简称"公司"）于 ...

证券代码：603693 证券简称：江苏新能 公告编号：2025-024 江苏省新能源开发股份有限公司 2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利0.15元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放 | | --- | --- | --- | --- | --- | | | | | | 日 | | A 股 | 2025/6/19 | － | 2025/6/20 | 2025/6/20 | 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本891,475,880股为基数，每股派发现 金红利0.15元（含税），共计派发现金红利133,721,382.00元。 三、 相关日期 | 股份类别 | | 股权登记日 | 最后交易日 | 除权（息）日 | ...

Core Viewpoint - The company has elected Mr. Chen Hua as the chairman of the fourth board of directors, effective immediately upon approval [1] Group 1 - The fourth board of directors' ninth meeting is scheduled for June 13, 2025 [1] - Mr. Chen Hua, born in December 1974, has previously held positions such as deputy section chief of the General Office of the Ju Rong Municipal Committee and deputy director of the General Office of the Ju Rong Municipal Committee [1] - Mr. Chen Hua currently serves as the company's general manager and deputy secretary of the party committee [1]