| 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]

Core Insights - The forum themed "Deep AI Energy, Creating the Future" focused on the integration of AI and green energy transformation, highlighting the application prospects and practical challenges in this area [1][3] Group 1: Government and Institutional Perspectives - The global energy landscape is undergoing profound digital and intelligent transformations, with AI and energy green transition being key to achieving high-quality development under China's "dual carbon" goals [3] - Shenzhen is actively exploring "AI + Energy" innovations as a national low-carbon pilot city and digital economy hub, aiming to enhance collaboration to contribute to the "dual carbon" goals and address global climate change [3] Group 2: Corporate Innovations and Achievements - Shenzhen Energy Group has established an intelligent system covering the entire energy industry chain, marking a historic leap from technological exploration to system integration in "AI + Energy" [3][4] - The company has released six major technological innovations this year, including AI intelligent monitoring and green low-carbon management, emphasizing the importance of technological innovation in its operations [3] Group 3: AI Technology Development and Applications - AI technology is rapidly evolving towards multi-modal, intelligent agents, and deep integration, which will reshape the energy and power industry's technological landscape [4] - The integration of AI with clean energy is expected to significantly promote green energy development, with the majority of new electricity demand to be met by new clean energy generation by the end of the 14th Five-Year Plan [4] Group 4: Expert Discussions and Future Directions - Experts from various organizations discussed the innovative applications of AI in power system planning, intelligent scheduling, energy simulation modeling, and digital governance, providing forward-looking insights for the deep integration of AI and the energy industry [5] - The next steps involve promoting deep integration of AI with practical scenarios, aiming to create a self-coordinating and intelligent industrial ecosystem, with AI playing a crucial role in energy efficiency and carbon reduction [4][5]

Investment Rating - The report maintains a positive outlook on the power and gas sectors, indicating a "Buy" recommendation for several companies within these industries [3][4]. Core Insights - The second industry is the main driver of electricity consumption growth, with a notable increase in electricity demand due to seasonal factors and high temperatures in Q3 [4][9]. - Global gas prices are rebounding, and expectations of a cold winter may enhance gas sales growth [18][19]. - The report highlights various investment opportunities across different energy sectors, including hydropower, green energy, nuclear power, thermal power, and gas [16][40]. Summary by Sections 1. Electricity: Q3 Second Industry Drives National Electricity Consumption - In September, total electricity consumption reached 888.6 billion kWh, a year-on-year increase of 4.5% [10]. - The second industry contributed significantly to this growth, with a 5.1% increase in electricity consumption, accounting for 51% of the total growth [4][9]. - The cumulative electricity consumption from January to September was 7767.5 billion kWh, reflecting a 4.6% year-on-year growth [13]. 2. Gas: Global Gas Price Rebound and Cold Winter Expectations - As of October 24, the Henry Hub spot price was $3.21/mmBtu, showing a weekly increase of 13.96% [19][20]. - The report notes a seasonal demand increase and geopolitical factors supporting gas prices, particularly in Europe [25][37]. - The anticipated La Niña phenomenon may lead to colder winter conditions, potentially boosting gas consumption [37]. 3. Weekly Market Review - The report indicates that the power equipment sector outperformed the Shanghai and Shenzhen 300 index, while the public utility, gas, and environmental protection sectors lagged [42]. 4. Company and Industry Dynamics - The report discusses significant developments in the energy sector, including the launch of innovative products in wind energy and updates on national energy policies [50][51]. - It highlights the performance of major companies, such as Huadian International, which reported a decrease in electricity generation due to increased renewable energy capacity [57].

Core Viewpoint - Shenzhen Energy experienced a significant increase in stock price, reaching the daily limit with a turnover rate of 3.72% and a transaction volume of 1.288 billion yuan, indicating strong market interest and volatility [2] Trading Activity - The stock was listed on the Shenzhen Stock Exchange due to a price deviation of 9.78%, with institutional investors net selling 24.4942 million yuan and the Shenzhen Stock Connect net selling 64.4489 million yuan [2] - The top five trading departments had a combined transaction volume of 394 million yuan, with a net selling amount of 71.4791 million yuan [2] - Specific trading details show that two institutional special seats were involved, with a total buying amount of 22.9212 million yuan and selling amount of 47.4155 million yuan, resulting in a net sell of 24.4942 million yuan [2] Capital Flow - The stock saw a net inflow of 204 million yuan from major funds, with a significant inflow of 211 million yuan from large orders, while smaller orders experienced a net outflow of 7.4949 million yuan [2] - Over the past five days, the net inflow of major funds totaled 176 million yuan [2] Margin Trading Data - As of October 22, the margin trading balance for the stock was 555.6 million yuan, with a financing balance of 554 million yuan and a securities lending balance of 2.1551 million yuan [3] - In the last five days, the financing balance increased by 11.481 million yuan, representing a growth of 2.12%, while the securities lending balance rose by 427,300 yuan, marking a 24.73% increase [3]

Core Insights - The Shenzhen state-owned enterprise reform concept index rose by 6.62%, leading the sector gains, with 26 stocks increasing in value, including a 20% limit up for Jian Kexue [1] Group 1: Market Performance - The top-performing stocks in the Shenzhen state-owned enterprise reform sector included Jian Kexue, Guangtian Group, and Te Fa Information, all hitting the daily limit up [1] - Other notable gainers were Shen Shui Gui Yuan, Shen Zhen Ye A, and Shenzhen Gas, with increases of 14.04%, 7.77%, and 4.41% respectively [1] Group 2: Capital Inflow - The Shenzhen state-owned enterprise reform sector saw a net capital inflow of 1.382 billion yuan, with 23 stocks receiving net inflows, and 6 stocks exceeding 100 million yuan in net inflow [1] - Te Fa Information led the net inflow with 244 million yuan, followed by Shenzhen Energy, Li He Ke Chuang, and Tian Jian Group with net inflows of 204 million yuan, 146 million yuan, and 128 million yuan respectively [1] Group 3: Capital Flow Ratios - The stocks with the highest net capital inflow ratios included Shen Sai Ge, Shen Wu Yi A, and Te Fa Information, with ratios of 84.43%, 52.32%, and 46.76% respectively [2] - Other stocks with significant inflow ratios were Jian Kexue at 26.98% and Tian Jian Group at 21.26% [3]

Core Insights - The electricity sector experienced a rise of 0.91% on the previous trading day, with Shenzhen Energy leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Stock Performance - Shenzhen Energy (000027) saw a closing price of 7.51, with a significant increase of 9.96% and a trading volume of 1.7684 million shares [1] - Other notable performers included Chuaneng Power (000155) with a 4.59% increase, closing at 10.93, and Jingneng Power (600578) which rose by 3.12% to close at 4.95 [1] - Conversely, Hengsheng Energy (605580) experienced a decline of 6.07%, closing at 32.03, while Leshan Power (600644) fell by 2.82% to 10.70 [2] Capital Flow - The electricity sector saw a net outflow of 1.56 billion yuan from institutional investors and 4.64 billion yuan from speculative funds, while retail investors contributed a net inflow of 6.2 billion yuan [2] - Shenzhen Energy led the net inflow from institutional investors with 228 million yuan, despite a net outflow of 67.93 million yuan from speculative funds [3] - Other companies like Chuaneng Power and Guodian Power also experienced mixed capital flows, with Chuaneng Power seeing a net inflow of 72.86 million yuan from institutional investors [3]

证券简称：深圳能源 股票代码：000027 债券简称：21 深能 01 债券代码：149676 （第一期）（品种一）2025 年付息公告 本公司及董事会全体成员保证本公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 深圳能源集团股份有限公司 2021 年面向专业投资者公开发行公司债券 一、本期债券的基本情况 1．发行人：深圳能源集团股份有限公司。 2．债券名称：深圳能源集团股份有限公司 2021 年面向专业投资者公开发 行公司债券（第一期）（品种一）。 重要提示： 债券简称：21 深能 01 债券代码：149676 债权登记日：2025 年 10 月 24 日 付息日：2025 年 10 月 27 日（因 2025 年 10 月 25 日遇休息日，故顺延至 其后的第 1 个交易日） 计息期间：2024 年 10 月 25 日至 2025 年 10 月 24 日 深圳能源集团股份有限公司（以下简称"发行人"或"本公司"）发行的 深圳能源集团股份有限公司 2021 年面向专业投资者公开发行公司债券（第一期） （品种一）（以下简称"本期债券"）将于 2025 年 10 月 27 日（因 2025 ...