Group 1 - The core point of the article is that Jiufeng Energy has announced a share buyback plan, repurchasing 6.2789 million shares, which accounts for 0.9% of the total share capital, with a total expenditure of approximately 187 million RMB [1] - The highest transaction price for the repurchased shares was 35.59 RMB per share, while the lowest was 25.52 RMB per share [1] - As of the report, Jiufeng Energy's market capitalization stands at 23.4 billion RMB [1] Group 2 - For the fiscal year 2024, Jiufeng Energy's revenue composition is as follows: clean energy accounts for 89.16%, energy services for 9.77%, specialty gases for 1.07%, and other businesses for 0.01% [1]

成为最具价值创造力的清洁能源服务商 1、现阶段，公司"一主两翼"业务发展格局已初步形成并取得良好成效，清洁能 源一体化"哑铃型"发展模式持续优化，能源服务增长动能不断释放，特种气体业务布 局加快推进，公司整体价值加快提升。 2、公司于 2024 年 6 月制定《未来三年（2024-2026 年）现金分红规划》，提出当 公司董事会认为二级市场股价与公司真实价值出现偏离时，将视情况在履行相关决策程 证券代码：605090 证券简称：九丰能源 公告编号：2025-103 江西九丰能源股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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。 | 回购方案首次披露日 | 2025/4/18 | | --- | --- | | 回购方案实施期限 | 2025/5/9 ~ 2026/5/8 | | 预计回购金额 | 20,000.00万元~30,000.00万元 | | 回购用途 | √减少注册资本 □用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值 ...

智通财经APP讯，九丰能源(605090.SH)发布公告，截至2025年10月31日，公司以集中竞价交易方式累 计回购股份627.89万股，占公司总股本的0.90%，最高成交价为35.59元/股，最低成交价为25.52元/股， 已支付的资金总额为人民币1.87亿元(不含交易费用)。 ...

九丰能源（605090）(605090.SH)发布公告，截至2025年10月31日，公司以集中竞价交易方式累计回购 股份627.89万股，占公司总股本的0.90%，最高成交价为35.59元/股，最低成交价为25.52元/股，已支付 的资金总额为人民币1.87亿元(不含交易费用)。 ...

格隆汇11月5日丨九丰能源(605090.SH)公布，截至2025年10月31日，公司以集中竞价交易方式累计回购 股份627.89万股，占公司总股本的0.90%，最高成交价为35.59元/股，最低成交价为25.52元/股，已支付 的资金总额为人民币18,663.85万元（不含交易费用）。 ...

格隆汇11月5日丨九丰能源(605090.SH)公布，截至2025年10月31日，公司以集中竞价交易方式累计回购 股份627.89万股，占公司总股本的0.90%，最高成交价为35.59元/股，最低成交价为25.52元/股，已支付 的资金总额为人民币18,663.85万元（不含交易费用）。 ...

Core Insights - The gas sector experienced a slight increase of 0.44% on November 5, with Shouhua Gas leading the gains [1] - The Shanghai Composite Index closed at 3969.25, up 0.23%, while the Shenzhen Component Index closed at 13223.56, up 0.37% [1] Gas Sector Performance - Shouhua Gas (300483) closed at 14.85, with a rise of 4.72% and a trading volume of 279,000 shares, amounting to a transaction value of 413 million yuan [1] - ST Jinwan (000669) and Shuifa Gas (603318) also showed significant gains, with increases of 4.35% and 3.55% respectively [1] - The overall trading volume and transaction values for various gas stocks indicate active market participation [1] Fund Flow Analysis - The gas sector saw a net outflow of 169 million yuan from institutional investors, while retail investors contributed a net inflow of 218 million yuan [2] - Notable stocks like Shouhua Gas and Changchun Gas experienced varying levels of net inflow and outflow from different investor categories [3] - The data indicates a mixed sentiment among different investor types, with institutional investors pulling back while retail investors increased their positions [2][3]

Core Points - The company has been actively enhancing shareholder returns since its listing in 2021 through cash dividends and share buybacks [2] - A total of 8 cash dividend plans have been implemented, with 4 share buyback plans completed and the fifth buyback plan progressing as scheduled [2] - The company has included share buyback matters in its cash dividend plan for the next three years (2024-2026) and will strictly adhere to information disclosure obligations for any new buyback plans [2]

Market Overview - In October, the Shanghai and Shenzhen 300 Index remained unchanged, while the public utility index increased by 4.47% and the environmental index rose by 2.58% [1][16] - Among the 31 first-level industry categories, public utilities and environmental sectors ranked 5th and 8th in terms of growth [1][43] - In the electricity sector, thermal power increased by 10.98%, hydropower by 4.01%, and gas by 6.39% [1][44] Important Events - On October 30, the Ministry of Commerce issued guidelines to support the use of green low-carbon development in foreign trade, promoting the use of renewable energy and sustainable fuels in international shipping [2][17] - The guidelines encourage foreign trade enterprises to develop and utilize recycled resources and biodegradable materials [2][17] Sector Performance - The thermal power sector's revenue for the first three quarters of 2025 was 906.47 billion yuan, a year-on-year decrease of 5.48%, while net profit increased by 15.03% to 71.12 billion yuan [3][18] - The hydropower sector's revenue was 148.76 billion yuan, down 1.39%, with net profit rising by 1.73% to 51.32 billion yuan [3][22] - Wind power revenue decreased by 2.80% to 117.16 billion yuan, with net profit down 12.15% to 22.03 billion yuan [3][25] - The photovoltaic sector saw revenue of 26.10 billion yuan, a decline of 16.55%, but net profit increased by 55.77% to 2.90 billion yuan [3][28] - Nuclear power revenue was 164.08 billion yuan, up 1.76%, but net profit fell by 12.39% to 16.58 billion yuan [3][32] - The gas sector's revenue was 234.91 billion yuan, a decrease of 0.78%, with net profit down 5.49% to 10.25 billion yuan [3][36] Investment Strategy - For thermal power, it is recommended to invest in major companies like Huadian International and Shanghai Electric due to stable profitability [4][41] - In the renewable energy sector, companies such as Longyuan Power and Three Gorges Energy are recommended for their potential steady earnings growth [4][41] - Nuclear power companies like China Nuclear Power and China General Nuclear Power are expected to maintain stable profits [4][41] - High-dividend hydropower stocks like Yangtze Power are highlighted for their defensive attributes [4][41] - In the gas sector, Jiufeng Energy is recommended for its capabilities in marine gas trading [4][41] - The environmental sector is advised to focus on companies like China Everbright Environment and Zhongshan Public Utilities, which are entering a mature phase with improved cash flow [4][42]

Investment Rating - The report maintains a "Strong Buy" rating for Jiufeng Energy (605090) [2][9] Core Views - The company reported a revenue of 15.61 billion yuan for the first three quarters of 2025, a year-on-year decrease of 8.5%, and a net profit attributable to shareholders of 1.24 billion yuan, down 19.1% year-on-year [2] - The report highlights the impact of temporary costs on quarterly performance, particularly due to factors such as delayed shipping schedules, extreme weather affecting LPG transportation, and transitional maintenance of newly acquired facilities [9] - Looking ahead to Q4, the report anticipates improved performance in the LPG business as negative factors from Q3 are expected to be resolved, leading to a recovery in profitability [9] - The collaboration on the Xinjiang coal-to-gas project is viewed as a significant opportunity for the company's transformation, with all necessary approvals in place and project progress expected to accelerate [9] - The report projects net profits for 2025, 2026, and 2027 to be 1.592 billion yuan, 1.767 billion yuan, and 2.064 billion yuan respectively, reflecting the potential growth from the coal-to-gas project [9] Financial Summary - For 2025, the company is expected to generate total revenue of 21.56 billion yuan, with a year-on-year growth rate of -2.2% [4] - The projected net profit for 2025 is 1.592 billion yuan, with a year-on-year decrease of 5.4% [4] - The earnings per share (EPS) for 2025 is estimated at 2.29 yuan, with a price-to-earnings (P/E) ratio of 14 [4] - The target price for the stock is set at 45.72 yuan, compared to the current price of 33.06 yuan [5]