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].

Core Insights - Shenzhen Energy reported a revenue of approximately 32.44 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 6.66% [1] - The net profit attributable to shareholders decreased to about 1.964 billion yuan, reflecting a year-on-year decline of 7.58% [1] - Basic earnings per share fell to 0.3555 yuan, down 6.67% compared to the previous year [1] Company Performance - Revenue for the first three quarters reached approximately 32.44 billion yuan, showing a growth of 6.66% year-on-year [1] - Net profit attributable to shareholders was around 1.964 billion yuan, which is a decrease of 7.58% year-on-year [1] - Basic earnings per share decreased to 0.3555 yuan, down 6.67% from the previous year [1] Industry Context - The article mentions the occurrence of "negative electricity prices" in multiple regions, raising questions about why power plants are reluctant to shut down despite not making profits from electricity sales [1]

Group 1 - The core viewpoint of the article is that Shenzhen Energy reported its Q3 2025 financial results, showing a mixed performance with revenue growth but a decline in net profit [1] Group 2 - The company's operating revenue for the first three quarters reached 32.44 billion yuan, representing a year-on-year increase of 6.66% [1] - The net profit attributable to shareholders decreased to 1.964 billion yuan, down 7.58% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.8 billion yuan, a year-on-year decrease of 11.43% [1] - The basic earnings per share stood at 0.3555 yuan [1]

Group 1 - The core viewpoint of the article is that Shenzhen Energy has released its third-quarter report, indicating a mixed performance in terms of revenue and net profit [1] Group 2 - For the first three quarters, the company's operating revenue reached 32,439,749,870.04 yuan, representing a year-on-year increase of 6.66% [1] - The net profit attributable to shareholders of the listed company was 1,964,477,405.04 yuan, showing a year-on-year decrease of 7.58% [1] - Among the top ten circulating shareholders, new entrants include Shenzhen Municipal Government State-owned Assets Supervision and Administration Commission, Huaneng International Power Co., Ltd., and Shenzhen Capital Operations Group Co., Ltd. [1]

Core Viewpoint - Shenzhen Energy reported a mixed performance in its third-quarter financial results, with revenue growth but a significant decline in net profit [1] Financial Performance - In the third quarter, the company achieved an operating revenue of 11.301 billion yuan, representing a year-on-year increase of 6.45% [1] - The net profit attributable to shareholders for the third quarter was 260 million yuan, showing a year-on-year decrease of 30.12% [1] - For the first three quarters, the company recorded an operating revenue of 32.440 billion yuan, which is a year-on-year growth of 6.66% [1] - The net profit attributable to shareholders for the first three quarters was 1.964 billion yuan, reflecting a year-on-year decrease of 7.58% [1]

深圳能源集团股份有限公司 证券代码：000027 证券简称：深圳能源 公告编号：2025-038 | 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：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 | | 公司债券代码：148687 | 公司债券简称：24 | 深能 | 01 | | 公司债券代码：524032 | 公司债券简称：24 | 深能 | Y2 | | 公司债券代码：524352 | 公司债券简称：25 | 深能 | YK01 | 关于西部能源公司所属企业计提资产减值准备 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。 深圳能源集团股份有限公司（以下简称：公司）于2025年10月29日召开了董 事会八届 ...

| 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：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 | | 公司债券代码：148687 | 公司债券简称：24 | 深能 | 01 | | 公司债券代码：524032 | 公司债券简称：24 | 深能 | Y2 | | 公司债券代码：524352 | 公司债券简称：25 | 深能 | YK01 | 深圳能源集团股份有限公司 董事会八届四十次会议决议公告 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。 一、董事会会议召开情况 深圳能源集团股份有限公司（以下简称：公司）董事会八届四十次会议通知 及相关文件已于 2025 年 10 月 17 日分别以专人、电子邮件、电话等方式送达 ...

Financial Performance - Total operating revenue for Q3 2025 reached ¥11,300,604,475.81, an increase of 6.45% year-on-year[4] - Net profit attributable to shareholders decreased by 30.12% to ¥259,600,370.61 compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 42.01% to ¥194,260,241.33[4] - Basic earnings per share decreased by 62.10% to ¥0.0155, while diluted earnings per share also fell by 62.10% to ¥0.0155[4] - Total operating revenue for the current period reached ¥32,439,749,870.04, an increase of 6.67% compared to ¥30,414,502,789.66 in the previous period[19] - Total operating costs amounted to ¥28,809,062,940.22, up from ¥27,124,458,821.22, reflecting a growth of 6.22%[19] - The cost of goods sold was ¥25,007,484,985.95, compared to ¥23,712,693,216.44 in the prior period, indicating an increase of 5.44%[19] - Operating profit for the period was ¥3.67 billion, up from ¥3.56 billion, reflecting a growth of 3.0%[20] - Net profit attributable to shareholders was ¥1.96 billion, a decrease of 7.6% from ¥2.13 billion in the previous period[21] - The total comprehensive income for the period was ¥2.91 billion, an increase of 19.1% from ¥2.44 billion[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥170,982,412,694.22, reflecting a 5.96% increase from the end of the previous year[4] - Current assets totaled ¥41,258,849,239.45, rising from ¥34,233,116,190.90, representing a growth of 20.88%[16] - Non-current assets increased to ¥129,723,563,454.77 from ¥127,137,750,797.56, a growth of 2.03%[16] - Total liabilities reached ¥105,757,651,312.18, compared to ¥103,165,962,137.65, marking an increase of 2.51%[17] - Total equity attributable to shareholders was ¥50,238,841,167.05, up from ¥48,415,711,184.88, reflecting a growth of 3.77%[17] - The company reported a decrease in short-term borrowings to ¥2,136,378,698.29 from ¥3,060,296,999.69, a reduction of 30.19%[17] - Long-term borrowings increased to ¥42,793,142,669.42 from ¥41,981,382,253.60, an increase of 1.94%[17] Cash Flow - Cash flow from operating activities for the year-to-date reached ¥9,507,561,633.78, an increase of 27.58%[4] - Cash inflow from operating activities totaled ¥37.93 billion, an increase of 19.4% from ¥31.77 billion[23] - Net cash flow from operating activities amounted to ¥9,507,561,633.78, an increase of 27.5% compared to ¥7,452,064,736.86 in the previous period[24] - Total cash outflow from operating activities was ¥28,421,277,958.13, up from ¥24,318,188,030.07, reflecting a 17.5% increase[24] - Cash inflow from investment activities totaled ¥2,837,279,144.19, down 30.4% from ¥4,073,962,503.27[24] - Net cash flow from investment activities was -¥7,680,403,136.80, slightly improved from -¥7,685,966,100.99 in the previous period[24] - Cash inflow from financing activities reached ¥21,653,988,455.01, a decrease of 32.5% compared to ¥32,118,673,989.18[24] - Net cash flow from financing activities was ¥3,870,078,360.44, an increase of 111.3% from ¥1,834,449,377.51[24] - The net increase in cash and cash equivalents was ¥5,674,707,686.06, compared to ¥1,581,604,729.83 in the previous period[24] - The ending balance of cash and cash equivalents stood at ¥14,728,302,839.95, slightly down from ¥14,832,861,076.04[24] Operational Highlights - The company reported a significant increase in other income, up 436.22%, primarily due to carbon emission rights income and cancellation fees for natural gas shipments[8] - The introduction of strategic investors in the environmental company led to a 53.09% increase in minority shareholders' equity[8] - The company experienced a 799.50% increase in cash received from investment due to the introduction of strategic investors in the environmental company[8] - The company reported a 41.73% increase in taxes and surcharges, mainly due to increases in property tax, urban construction tax, and education surcharges compared to the same period last year[8] - The company's cumulative on-grid electricity generation from January to September 2025 reached 48.979 billion kWh, a year-on-year increase of 13.71%[12] - Coal-fired power generation accounted for 18.461 billion kWh, up 5.30% year-on-year, while natural gas generation increased by 29.36% to 14.640 billion kWh[12] - The company achieved a total sales volume of 3.209 billion cubic meters in the gas sector, reflecting a growth of 33.99% year-on-year[12] - As of September 30, 2025, the company's controllable installed capacity was 25.4848 million kW, with natural gas power accounting for 40.10% of the total[13] - The newly commissioned units included a 60 MW solar project in Yunnan and a 52.8 MW wind project in Guizhou, contributing to the expansion of renewable energy capacity[13] - The company processed 11.1417 million tons of waste in its environmental sector, marking a 7.06% increase year-on-year[12] Shareholder Information - The company has not reported any changes in the top 10 shareholders due to margin trading activities[12] Accounting and Audit - The company did not undergo an audit for the third quarter financial report[25] - The new accounting standards will be implemented starting from 2025[25]

Core Viewpoint - Shenzhen Energy's stock has shown a positive trend with a year-to-date increase of 14.06%, reflecting strong market interest and performance in the energy sector [1][2]. Financial Performance - As of October 10, 2025, Shenzhen Energy reported a revenue of 21.139 billion yuan, representing a year-on-year growth of 6.77%. However, the net profit attributable to shareholders decreased by 2.80% to 1.705 billion yuan [2]. - Cumulative cash dividends since the company's A-share listing amount to 12.497 billion yuan, with 2.046 billion yuan distributed over the past three years [3]. Stock Market Activity - On October 29, Shenzhen Energy's stock price rose by 2.12% to 7.22 yuan per share, with a trading volume of 341 million yuan and a turnover rate of 1.01%, leading to a total market capitalization of 34.348 billion yuan [1]. - The stock has seen significant trading activity, with a net inflow of 16.8069 million yuan from main funds and notable buying and selling by large orders [1]. Shareholder Structure - As of June 30, 2025, the number of shareholders decreased by 0.95% to 112,600, with an average of 42,263 circulating shares per person, which increased by 0.96% [2][3]. - Major shareholders include Hong Kong Central Clearing Limited and Southern CSI 500 ETF, with changes in their holdings noted [3].

Group 1 - The carbon trading forum held in Shenzhen focuses on market-oriented approaches to carbon emission rights trading and green development opportunities [1] - A strategic cooperation agreement was signed between Shenzhen Ecological Environment Bureau and the National Petroleum and Natural Gas Pipeline Group's research institute to enhance methane emission control in the oil and gas sector [1] - Shenzhen Ecological Environment Bureau released two trial methodologies for carbon benefits related to second-hand electronic products and carpooling, promoting quantifiable and tradable green living [1] Group 2 - Shenzhen Green Exchange signed a green technology trading cooperation agreement with Green Technology (Shanghai) and the Belt and Road Environmental Technology Exchange and Transfer Center [2] - Over 20 green technology projects from Shenzhen Energy have been registered, establishing an efficient platform for technology supply and demand [2]