Core Insights - Shenzhen Shentou Control Donghai New Energy Industry Private Equity Investment Fund Partnership (Limited Partnership) has been established with a capital contribution of 1 billion yuan [1] - The fund's business scope includes private equity investment, investment management, and asset management activities [1] - The fund is jointly funded by Shenzhen Guiding Fund Investment Co., Ltd. and Shenzhen Energy among others [1]

公司债券代码：149677 公司债券简称：21 深能 02 公司债券代码：149927 公司债券简称：22 深能 02 公司债券代码：149984 公司债券简称：22 深能 Y2 公司债券代码：148628 公司债券简称：24 深能 Y1 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000027 证券简称：深圳能源 公告编号：2025-040 公司债券代码：149676 公司债券简称：21 深能 01 关于参加2025年度深圳辖区上市公司投资者网上集体接待日活动的公告 公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 为进一步加强与投资者的互动交流，深圳能源集团股份有限公司（以下简称：公司）将参加由深圳证监 局和中证中小投资者服务中心指导、深圳上市公司协会与深圳市全景网络有限公司联合举办的"2025年 度深圳辖区上市公司投资者网上集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站（http://rs.p5w.net），或关注微信 公众号"全景财经"，或下载"全景路演"APP，参与本次互动交流，活 ...

证券日报网讯 11月13日晚间，深圳能源发布公告称，为进一步加强与投资者的互动交流，深圳能源集 团股份有限公司（以下简称：公司）将参加由深圳证监局和中证中小投资者服务中心指导、深圳上市公 司协会与深圳市全景网络有限公司联合举办的"2025年度深圳辖区上市公司投资者网上集体接待日活 动"，活动时间为2025年11月20日。 （编辑 姚尧） ...

证券代码：000027 证券简称：深圳能源 公告编号：2025-040 为进一步加强与投资者的互动交流，深圳能源集团股份有限公司（以下简称： 公司）将参加由深圳证监局和中证中小投资者服务中心指导、深圳上市公司协会 与深圳市全景网络有限公司联合举办的"2025 年度深圳辖区上市公司投资者网上 集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号"全景财经"，或下载"全景路演" APP，参与本次互动交流，活动时间为 2025 年 11 月 20 日（周四）14:30 至 17:00。 届时公司高管将在线就公司业绩、公司治理、发展战略、经营状况等投资者关心 的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与。 特此公告。 深圳能源集团股份有限公司 董事会 二○二五年十一月十四日 | 公司债券代码：149676 | 公司债券简称：21 | 深能 | 01 | | --- | --- | --- | --- | | 公司债券代码：149677 | 公司债券简称：21 | 深能 | 02 | | 公司债券代码 ...

Core Insights - Qingdao is leveraging its unique regional advantages and forward-looking industrial layout to develop its economy in the era of artificial intelligence [1][3] Group 1: AI and Marine Industry Integration - Qingdao's distinctive feature is the integration of "AI + Marine," with the city accounting for 25% of the national marine data and cultivating 70% of the country's marine large models [1] - The "Wenhai" forecasting model can complete a 15-day global marine environment forecast in just 90 seconds [1] - Qingdao Port has launched the world's first port large model and is recognized as the only national-level AI application pilot base in the port industry [1] Group 2: Industrial Foundation and Innovation - Qingdao's strong industrial base has allowed its appliance and manufacturing sectors to lead in embodied intelligence [2] - The city has implemented an innovative model of "1 public training ground + N training sites," with Haier and Hisense approved to establish provincial-level innovation centers for service and humanoid robots [2] - Haier's exoskeleton robot ranks among the top three in the industry, and Guohua's intelligent joint module products have entered Xiaomi's robot supply chain [1] Group 3: Infrastructure and Data Capabilities - Qingdao has nearly 100,000 standard racks in use across its data centers, with a computing power scale of 5771P, and has established 46,000 5G base stations, ranking third nationally in per capita base station count [2] - The establishment of the National Industrial Internet Big Data Shandong Branch and the launch of industrial data asset registration in Qingdao are set to enhance the city's data capabilities [2] - Qingdao Data Group has initiated public data operation trials, aggregating over 310 billion public data entries and forming 159 usable data sets to fuel AI innovation [2] Group 4: Industrial Ecosystem and Growth - The continuous optimization of the industrial ecosystem in Qingdao has led to the establishment of a 10 billion yuan industrial fund, with an annual investment of 100 million yuan to support the construction of large AI industrial parks [2] - The city has six key pilot platforms for industrial and information technology, with over 50 breakthroughs in common key technologies, facilitating the transition from technology to industry [2] - Over 500 AI companies have gathered in Qingdao, with total revenue expected to reach 70 billion yuan from January to October, reflecting a growth rate exceeding 20% [2]

Investment Rating - The report provides a positive investment outlook for the electricity and natural gas sectors, highlighting potential growth opportunities in renewable energy and natural gas consumption [4][8]. Core Insights - The green certificate market is experiencing a significant increase in both volume and price, with a 210% rise in average trading prices in Q3 compared to Q1. The total issuance of green power certificates reached 2.29 billion in September 2025, with 1.58 billion being tradable [7][8]. - Global natural gas prices are fluctuating, with the U.S. Henry Hub spot price reaching a six-month high of $3.57/mmBtu, while European prices are showing mixed trends [9][11]. - The report anticipates an increase in natural gas consumption in Q4 2025 due to low base effects and expected higher heating demand from a potential La Niña phenomenon [30][31]. Summary by Sections Electricity - The average trading price of green certificates increased by 210% in Q3 compared to Q1. The issuance of green certificates reached 2.29 billion in September 2025, with 1.58 billion being tradable, indicating a robust market growth [7][8]. - The report emphasizes the need for further development of the green certificate market and the introduction of regulations to enhance renewable energy consumption [4][7]. Natural Gas - As of October 31, 2025, the U.S. Henry Hub spot price was $3.57/mmBtu, marking an 11.16% increase week-on-week. In contrast, European gas prices showed a decline, with the TTF spot price at €30.35/MWh, down 5.42% [9][10]. - The report notes a decrease in China's apparent natural gas consumption in September 2025, but anticipates a rebound in Q4 2025 due to low base effects and increased heating demand [30][31]. - The LNG national ex-factory price in China rose to 4407 yuan/ton, reflecting a 3.11% increase week-on-week, driven by rising demand ahead of the heating season [28][30]. Investment Recommendations - The report recommends several companies based on their performance and market conditions: - Hydropower: Focus on Guotou Power, Chuan Investment Energy, and Yangtze Power due to favorable hydrological conditions [8]. - Green Power: Attention to New Energy, Funiu Co., Longyuan Power, and China Resources Power for their stable returns [8]. - Nuclear Power: Recommendations for China Nuclear Power and China General Nuclear Power due to ongoing approvals for new units [8]. - Thermal Power: Companies like Guodian Power and Huadian International are highlighted for improved profitability due to falling coal prices [8]. - Gas Power: Recommendations for Guangzhou Development and Shenzhen Energy based on expected stability in profitability [8].

Investment Rating - The report maintains a "Buy" rating for various sectors including hydropower, green electricity, nuclear power, thermal power, and gas power [4][9][44]. Core Insights - The green certificate market is experiencing a significant increase in both volume and price, with a 210% rise in average trading price in Q3 compared to Q1 [8]. - Global natural gas prices are fluctuating, with the US Henry Hub spot price reaching a near six-month high of $3.57/mmBtu, while European prices are showing mixed trends [11][12]. - The report anticipates a potential increase in gas consumption growth in Q4 2025 due to low base effects and high demand expectations, despite a 1.6% year-on-year decline in September gas consumption [32][33]. Summary by Sections 1. Electricity - In September 2025, 229 million green electricity certificates were issued, with 68.86% being tradable [4][8]. - The report highlights the improvement in market mechanisms and the growing demand for renewable energy consumption [8]. 2. Natural Gas - As of October 31, 2025, the US Henry Hub spot price increased by 11.16% week-on-week, while European prices showed a decline [11][12]. - The report notes a 1.6% year-on-year decrease in national gas consumption in September, with expectations for growth in Q4 2025 due to favorable weather conditions [32][33]. 3. Investment Recommendations - Recommendations include hydropower companies such as Guotou Power and Chuanwei Energy, green electricity firms like Xintian Green Energy and Longyuan Power, and gas companies including Kunlun Energy and New Hope Energy [9][44]. - The report emphasizes the potential for improved profitability in the gas sector due to declining costs and rising demand [33][44].

Core Insights - The integration of "digital intelligence" and "green" initiatives is advancing corporate ESG (Environmental, Social, and Governance) practices from conceptual advocacy to systematic and intelligent implementation [1][3] - The fourth annual forum on sustainable development for listed companies, themed "Digital Intelligence and Green Movement Leading New Journey," was held in Beijing, revealing the winners of the "Ernst & Young Sustainable Development Annual Best Awards 2025" [1][3] - The awards highlighted the innovative practices of Chinese companies in the ESG and AI integration space, showcasing their contributions to building a modern industrial system and achieving high-quality development [1][3] Group 1: Event Overview - The forum featured 2 special awards, 12 outstanding companies, 2 distinguished individuals, 16 excellent cases, and 1 special contribution award for technological innovation in ESG development [1][3] - The focus of this year's awards was on the role of digitalization as an innovative driving force, emphasizing zero-carbon technology and AI's role in enhancing productivity [1][3] Group 2: Industry Trends - Ernst & Young's China Chairman noted that 2023 is a pivotal year for global sustainable development, marking the 10th anniversary of the Paris Agreement and the 20th anniversary of the "Green Mountains and Clear Water are Gold and Silver Mountains" concept [3] - The rapid advancement of AI technology is accelerating the digital and green transformation of Chinese enterprises, positioning them as key players in sustainable development [3][4] Group 3: AI and ESG Integration - Companies are encouraged to integrate ESG into their core strategies and leverage technology to transform sustainable development into a quantifiable and operational value system [4][5] - Ernst & Young has introduced AI-driven solutions, including the DeepSeek model and the METIS AI platform, to support enterprises in their green transformation efforts [4][5] Group 4: Award Evaluation and Criteria - The evaluation framework for the awards includes nine dimensions, focusing on technological innovation, low-carbon benefits, and social responsibility [5] - This year, an AI assessment component was introduced to enhance the evaluation process, utilizing a comprehensive ESG information database [5] Group 5: Future Outlook - Ernst & Young aims to deepen its professional service capabilities, helping companies embed sustainable development into their strategic core and operational processes [6]

Market Overview - The electricity sector experienced a decline of 1.77% on the previous trading day, with JianTou Energy leading the drop [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Tianfu Energy (600509) saw a closing price of 8.58, with an increase of 4.00% and a trading volume of 660,100 shares [1] - JianTou Energy (000600) reported a closing price of 9.12, down 5.00%, with a trading volume of 638,100 shares and a transaction value of 589 million yuan [2] - China Nuclear Power (601985) closed at 8.98, down 4.26%, with a trading volume of 3,121,600 shares and a transaction value of 2.84 billion yuan [2] Capital Flow - The electricity sector saw a net outflow of 1.027 billion yuan from main funds, while retail funds recorded a net inflow of 281 million yuan [2] - Tianfu Energy had a net inflow of 97.05 million yuan from main funds, but a net outflow of 88.32 million yuan from retail investors [3] - The overall capital flow indicates a mixed sentiment among different investor types within the electricity sector [2][3]

Core Viewpoint - Shenzhen Energy Group reported significant growth in electricity generation and gas sales for the first three quarters of 2025, indicating strong operational performance and expansion in renewable energy sources [5][6]. Financial Data - The total electricity generation from the company's power plants reached 48.979 billion kWh, a year-on-year increase of 13.71% [5]. - Breakdown of electricity generation: coal-fired power at 18.461 billion kWh (+5.30%), natural gas at 14.640 billion kWh (+29.36%), wind power at 6.700 billion kWh (+11.42%), solar power at 2.449 billion kWh (+44.70%), hydropower at 2.454 billion kWh (-2.83%), and waste incineration power at 4.275 billion kWh (+7.05%) [5]. - The gas segment achieved sales of 3.209 billion cubic meters, reflecting a year-on-year growth of 33.99% [5]. Shareholder Information - The company has not reported any changes in the top ten shareholders or any significant share lending activities [5]. New Projects - New power generation units were commissioned, including solar and wind projects in Yunnan and Guizhou, contributing to the company's renewable energy capacity [6]. Asset Impairment - The board approved asset impairment provisions totaling RMB 53.829 million for several subsidiaries due to adverse operational conditions [60][67]. - Specific impairments include RMB 6.179 million for Glacier Company, RMB 21.556 million for Woluo River Company, RMB 23.789 million for Luyuan Company, and RMB 2.305 million for Yangyuan Company [67]. Corporate Actions - The company plans to transfer a 17.6% stake in Zhejiang LNG to its subsidiary for RMB 113.9217 million, aiming to optimize resource allocation and enhance market competitiveness [14][37]. - The board also approved the absorption merger of its subsidiary, Fujian Huabang, by Western Energy Company to streamline operations and reduce management costs [39][57].