Group 1 - The core viewpoint of the news is that Shenzhen Energy Group has provided key insights into its operational capacity, coal consumption, coal sourcing, and profitability in the coal power sector during a recent investor meeting [1][2]. Group 2 - As of the end of the first half of 2025, Shenzhen Energy has an operational installed capacity of 25.3144 million kilowatts, with 4.5797 million kilowatts under construction and 5.645 million kilowatts approved but not yet started, indicating both current scale and future growth potential in the power generation sector [3]. - In the first half of 2025, the average coal consumption for conventional coal-fired units was 305.77 grams per kilowatt-hour, while for coal-fired thermal power units, it was 273.33 grams per kilowatt-hour. The company has also decommissioned two 320-megawatt units at the Ma Wan Power Plant and plans to construct two 660-megawatt supercritical coal-fired units at the same site [4]. - The main sources of coal for the company include Guoneng Sales Group Guangzhou Co., Ltd., Guangzhou Pearl River Electric Fuel Co., Ltd., and Yitai Energy Supply Chain Services (Shenzhen) Co., Ltd., which are crucial for the stable operation of its coal power business [5]. - In the first half of 2025, the coal power segment achieved a net profit attributable to the parent company of approximately 329 million yuan, reflecting the profitability of this segment during the period [6].

Group 1: Operational Capacity - As of the end of the first half of 2025, the company's operational installed capacity is 2,531.44 million kW, with 457.97 million kW under construction and 564.5 million kW approved but not yet started [2] Group 2: Coal Consumption and Environmental Standards - In the first half of 2025, the average coal consumption for conventional coal-fired units was 305.77 grams per kWh, while the average for coal-fired thermal units was 273.33 grams per kWh [2] - The company has dismantled 2 units of 320 MW at the Ma Wan Power Plant and plans to construct 2 units of 660 MW ultra-supercritical coal-fired units at the same site [2] Group 3: Coal Supply Sources - The main sources of coal for the company in the first half of 2025 include domestic washed coal, inland coal, and imported coal, with suppliers such as China Energy Sales Group Guangzhou Co., Ltd., Guangzhou Pearl River Electric Fuel Co., Ltd., and Yitai Energy Supply Chain Services (Shenzhen) Co., Ltd. [3] Group 4: Financial Performance - The coal power segment achieved a net profit of approximately RMB 329 million in the first half of 2025 [3]

证券日报网讯深圳能源（000027）9月12日在互动平台回答投资者提问时表示，截至2025年8月20日，公 司股东人数为111107户。 ...

Group 1 - A new company, Xizang Chayu Shenneng New Energy Co., Ltd., has been established with a registered capital of 60 million yuan [1] - The legal representative of the company is Shao Hongzhi, and its business scope includes hydropower generation, power transmission, and water resource management [1] - The company is wholly owned by Sheneng Western Energy (Chengdu) Co., Ltd., which is jointly held by Shenzhen Energy and its subsidiary Newton Industrial Limited [1]

Core Viewpoint - Shenzhen Energy's stock has shown a mixed performance in recent trading sessions, with a slight increase year-to-date, while the company continues to engage in various energy-related businesses, including conventional and renewable energy production, waste treatment, and gas supply [1][2]. Company Overview - Shenzhen Energy Group Co., Ltd. is located in Shenzhen, Guangdong Province, and was established on August 21, 1993. It was listed on September 3, 1993. The company primarily engages in the development, production, and trading of various conventional and renewable energy sources, as well as urban solid waste treatment, wastewater treatment, and urban gas supply [1]. - The company's main business revenue composition includes: power generation from gas (26.76%), coal (21.32%), ecological environmental protection (18.52%), comprehensive gas (13.65%), wind power (8.70%), other sources (5.64%), solar power (3.56%), and hydropower (1.84%) [1]. Financial Performance - For the first half of 2025, Shenzhen Energy achieved an operating 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]. - Since its A-share listing, Shenzhen Energy has distributed a total of 12.497 billion yuan in dividends, with 2.046 billion yuan distributed over the past three years [3]. Shareholder Information - As of August 8, 2025, Shenzhen Energy had 112,500 shareholders, a decrease of 0.81% from the previous period. The average number of circulating shares per shareholder increased by 0.82% to 42,299 shares [2]. - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited, holding 30.5289 million shares (a decrease of 18.2034 million shares), and Southern CSI 500 ETF, holding 21.1348 million shares (an increase of 2.87 million shares) [3].

Core Viewpoint - The announcement from Gansu Energy highlights the company's investment in a 1 million kW integrated wind and solar project, reflecting a broader trend among listed companies to increase investments in renewable energy projects driven by policy and market factors [1][2]. Group 1: Company Initiatives - Gansu Energy's subsidiary plans to invest 4.089 billion yuan in the Minqin wind-solar integrated project, which will have a total installed capacity of 1 million kW, split evenly between wind and solar [1][2]. - The expected annual electricity generation from the wind project is 1.099 billion kWh, while the solar project is projected to generate 1.015 billion kWh [2]. - The project is anticipated to have a payback period of 14.91 years and a financial internal rate of return of 6.76% [2]. Group 2: Industry Trends - The surge in investments in renewable energy projects is driven by four main factors: supportive national policies under the "dual carbon" goals, increasing market demand for clean energy, technological advancements reducing costs, and strategic needs for energy security [3]. - As of the first half of the year, the total installed power generation capacity in China reached 3.65 billion kW, marking an 18.7% year-on-year increase, with solar and wind capacities growing by 54.2% and 22.7%, respectively [3]. - The industry is transitioning from a phase of "scale expansion" to "quality priority," necessitating companies to enhance technology development and explore new operational models [4][5].

Core Viewpoint - The announcement from Gansu Energy indicates a significant investment in renewable energy projects, reflecting a broader trend among listed companies to enhance their renewable energy capacity in response to national policies and market demands [1][2]. Group 1: Company Developments - Gansu Energy plans to invest in a 1 million kW integrated wind and solar project in Minqin, with a total investment of 4.089 billion yuan [1][2]. - The project will consist of 500,000 kW from wind power and 500,000 kW from solar power, with expected annual electricity generation of 1.099 billion kWh from wind and 1.015 billion kWh from solar [2]. - The investment recovery period for the project is estimated at 14.91 years, with a financial internal rate of return of 6.76% [2]. Group 2: Industry Trends - The surge in renewable energy project announcements is driven by four main factors: supportive national policies under the "dual carbon" goals, increasing market demand for clean energy, technological advancements reducing costs, and strategic needs for energy security [3]. - As of the first half of the year, the total installed power generation capacity in China reached 3.65 billion kW, a year-on-year increase of 18.7%, with solar power capacity growing by 54.2% and wind power capacity by 22.7% [3]. - The industry is shifting from "scale expansion" to "quality first," facing challenges such as insufficient grid capacity and increased competition among projects [4][6]. Group 3: Policy Implications - The National Development and Reform Commission and the National Energy Administration have issued a notice promoting market-oriented pricing for renewable energy, which will require project holders to enhance their market transaction capabilities [5][6]. - This policy change aims to create a true market price for electricity, facilitating efficient resource allocation and guiding the healthy development of the renewable energy sector [5].

Core Viewpoint - Shenzhen Energy Group Co., Ltd. has revised its articles of association, shareholder meeting rules, and board meeting rules, while abolishing the supervisor meeting rules, which reflects a restructuring of its governance framework [1][2][3]. Group 1: Major Events - The board of directors held its 37th meeting on August 12, 2025, where it approved the proposals for revising the articles of association and the rules for shareholder and board meetings [2]. - The supervisory board convened its 13th meeting on the same day, approving the proposal to abolish the supervisor meeting rules [2]. - The second extraordinary general meeting of shareholders took place on August 28, 2025, where the aforementioned proposals were ratified [2]. Group 2: Impact Analysis - The revisions and abolishment of certain rules are stated to have no adverse effects on the company's daily management, operations, or debt repayment capabilities [3]. - The changes are in compliance with legal regulations and the company's articles of association, ensuring that the governance structure remains aligned with legal requirements [3].

Group 1 - The issuer's board of directors approved amendments to the company's articles of association, shareholder meeting rules, and board meeting rules during the 37th meeting of the 8th board on August 12, 2025 [1][2] - The issuer's supervisory board also approved the proposal to abolish the supervisory meeting rules during its 13th meeting on the same day [2] - The second extraordinary general meeting of shareholders was held on August 28, 2025, where the amendments and the abolition of the supervisory meeting rules were ratified [2] Group 2 - The amendments and abolishment of rules are in compliance with legal regulations and the company's articles of association, and they will not adversely affect the company's daily management, operations, or debt repayment capacity [2][3] - The bondholder representative, Guotai Junan Securities, will closely monitor the issuer's principal and interest repayment situation and other significant matters affecting bondholders' interests [3][4]

| 债券代码：149676 | 债券简称：21 | 深能 | 01 | | --- | --- | --- | --- | | 债券代码：149677 | 债券简称：21 | 深能 | 02 | | 债券代码：149927 | 债券简称：22 | 深能 | 02 | | 债券代码：149984 | 债券简称：22 | 深能 | Y2 | | 债券代码：148628 | 债券简称：24 | 深能 | Y1 | | 债券代码：148687 | 债券简称：24 | 深能 | 01 | | 债券代码：524032 | 债券简称：24 | 深能 | Y2 | | 债券代码：524352 | 债券简称：25 | 深能 | YK01 | 发行人董事会八届三十七次会议于 2025 年 8 月 12 日召开，审议通过了《关 于修订公司<章程>部分条款的议案》（详见发行人公告的《深圳能源公司<章程> 修订对照表》）、《关于修订<股东大会议事规则>的议案》（详见发行人公告的《深 圳能源<股东大会议事规则>修订对照表》）、《关于修订<董事会议事规则>的议案》 （详见发行人公告的《深圳能源<董事会议事规则>修订对照表》）。 发行人监事 ...