Group 1: Project Development and Performance - The company aims to achieve a target of 10,000 MW in new project indicators for the year, with 3,670,000 kW already secured in the first half of 2025 [2][3] - The company is focusing on optimizing its development layout by shifting from solar to wind energy and from the northwest to the central and eastern regions [3][5] - As of June 2025, the company has an operational installed capacity of 19,925,500 kW, with an equity ratio of approximately 68% [17] Group 2: Financial Performance and Subsidies - The company has received over 1.667 billion yuan in subsidies as of August 2025, with plans to ensure all subsidies are collected [20][21] - The company is actively managing its financial performance, linking management assessments to market value management indicators [6][7] - The company plans to implement a share buyback program pending shareholder approval [10][12] Group 3: Technology and Innovation - The company is advancing the application of synchronous voltage source technology, with successful demonstrations in wind farms and ongoing tests in photovoltaic projects [4][14] - The company is also working on liquid air energy storage technology, with plans for grid connection by the end of the year [17][19] - The company emphasizes technological innovation as a core driver for high-quality development, including AI applications in power marketing and investment decision-making [23] Group 4: Market Challenges and Strategies - The company faces challenges related to power consumption and grid connection, particularly in Xinjiang, where average curtailment rates have increased [9][22] - The company is committed to enhancing its power marketing capabilities and improving electricity pricing through strategic partnerships with high-energy-consuming enterprises [22] - The company acknowledges the impact of macroeconomic factors and investor sentiment on its stock price, emphasizing ongoing value management efforts [12][30]

Group 1 - The company Zhonglv Electric (000537) responded to investor inquiries on September 10, indicating that information regarding the number of shareholders and other related details can be found in the company's periodic reports [1]

Group 1 - The company Zhonglv Electric (中绿电) reported that it has received a total of 1.606 billion yuan in renewable energy subsidy payments from the government between July and August 2025 [1]

Core Viewpoint - The company Zhonglv Electric (中绿电) reported that it has received a significant amount of renewable energy subsidy funds from the government, totaling 1.606 billion yuan since July 2025 [2] Group 1 - Zhonglv Electric disclosed on an investor interaction platform that it has cumulatively recovered renewable energy subsidy funds amounting to 1.606 billion yuan from July to August 2025 [2]

Core Insights - The performance briefing held by Tianjin Zhonglv Electric Investment Co., Ltd. on September 9, 2025, focused on the company's performance in the first half of 2025 and future development plans, revealing key information about operational strategies and financial metrics [1] Group 1: Operational Performance and Development Plans - The company plans to enhance its operational capabilities and financial performance in the second half of 2025, viewing this period as critical for the conclusion of the 14th Five-Year Plan and for deepening reforms and high-quality development [1] - Key tasks include strengthening power generation capacity, increasing marketing revenue, controlling costs, managing projects, and enhancing risk prevention [1] Group 2: Business Layout and Market Strategy - The company currently operates in 16 resource-rich provinces in China and is considering overseas opportunities based on policy, risk, and return factors [2] - In the first half of 2025, market-based electricity transactions accounted for 72.14% of the total electricity generated, an increase from 2024, with expectations for further growth as policies advance [2] - The company has three solar thermal projects, with one operational, one under construction, and one newly commissioned [2] Group 3: R&D Investment and Core Competitiveness - The company emphasizes technological innovation, with high initial investments and slow returns, while some technologies have been demonstrated in projects [3] - Core competitiveness is driven by industrial synergy and technological advancements, achieving industry-leading efficiency in wind and solar power generation [3] Group 4: Policy Impact and Project Progress - Following the implementation of policy "136," the company reassessed the profitability of ongoing projects and intensified feasibility studies for proposed projects [4] - The company is actively exploring green electricity direct connection projects, which show good economic potential but require clarity on pricing and cost recovery [4] - The company is shifting its strategic focus from solar to wind energy projects and is diversifying its resource acquisition methods [4]

Group 1: Performance Overview - The company reported a market transaction volume of 65.28 billion kWh in the first half of 2025, accounting for 72.14% of the total grid-connected electricity, an increase from 70.15% in 2024 [6] - The company recovered subsidy payments of 0.6 billion yuan in the first half of 2025, with a total recovery of 16.67 billion yuan by the end of August, representing 211% of the total expected for 2024 [10] - The average electricity price for photovoltaic projects in Xinjiang rose to around 200 yuan/MWh in 2025, following supportive policy implementations [10] Group 2: Strategic Focus and Development Plans - The company aims to enhance its operational capabilities and achieve high-quality development during the second half of 2025, focusing on ten key tasks including power generation capacity enhancement and project cost control [3] - The company is transitioning its project focus from photovoltaic to wind energy, while also expanding its geographical presence from the northwest to the central and eastern regions of China [11] - The company is developing its "15th Five-Year Plan" to enhance its long-term development strategy in the renewable energy sector [11] Group 3: Technological Advancements - The company is actively exploring new technologies such as perovskite batteries and advanced wind power technologies, although no new projects were initiated in the first half of 2025 [8] - The company has implemented self-synchronizing voltage source technology to improve grid stability and has made significant progress in liquid air energy storage projects [9][12] - The company collaborates with various research institutions to develop advanced energy storage technologies and has not yet launched new core technology patents in the first half of 2025 [12] Group 4: Market Position and Competitive Advantage - The company's core competitive advantages include a strong industrial synergy mechanism and a focus on technology-driven strategies for high-quality development [9] - The company’s wind and solar power plants achieve industry-leading efficiency levels, with ongoing projects aimed at enhancing grid connection performance [9] - The company is cautious in its investment approach post-implementation of the "136 Document," ensuring that project investments meet internal return requirements [10]

2025年上半年经营业绩报告涵盖主要财务指标、发电量、电力交易、资源获取、项目投产、投融资及公 司治理等方面。公司认为下半年是"十四五"收官及深化改革与高质量发展的关键时期，将重点推进十大 攻坚任务，包括强化发电能力、营销增收、成本管控、工程管理、风险防控，推进科技成果转化、发展 布局优化、基础工作改进、考核机制建设及党业深度融合。 业务布局与市场策略 9月9日，天津中绿电（维权）投资股份有限公司举行业绩说明会，吸引了众多投资者与行业分析师通过 现场或线上方式参与。此次会议聚焦公司2025年上半年经营业绩及未来发展规划，回应了市场关注的多 个关键问题。 2025上半年业绩回顾与下半年规划 出海业务与一体化项目 目前公司业务集中在境内16个资源富集省份，未来将综合考虑政策、风险、收益等因素寻求出海机会。 一体化项目虽能实现能源协同、降低弃风弃光率，但初始投资高，回收周期受地方电力市场规则影响 大。 政策影响 电力市场化交易与光热项目 2025年上半年公司市场化交易电量占上网电量的72.14%，较2024年有所提升，随着政策推进，占比有 望进一步提高。公司目前有三个光热项目，一个在运，一个在建，一个新投产。 储能 ...

问题1.公司是否有出海业务？未来是否有出海计划？ 证券代码：000537 证券简称：中绿电 天津中绿电投资股份有限公司 投资者关系活动记录表 编号：2025-05 投资者关系活动 类别 □特定对象调研 □分析师会议 □媒体采访 业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 活动参与人员 所有通过现场或线上参会的投资者、行业分析师等 时间 2025 年 9 月 9 日 15:00-17:00 地点 1.现场会议地点：北京礼士智选假日酒店会议室（北京东城区礼士 胡同 18 号） 2.线上参与方式：深圳证券交易所"互动易"平台（https://irm.cnin fo.com.cn/）"云访谈"栏目 上市公司接待人 员姓名 董事长周现坤 总经理强同波（线上参会） 副总经理刁争春（线上参会） 总经理助理阚芝南 总经理助理、董事会秘书伊成儒 专业师刘卫东 营销部负责人陆浩 财务部负责人赵晓婧 安质部负责人李宗毅 独立董事李书锋（线上参会） 形式 现场会议与线上文字交流相结合 交流内容及具体 问答记录 一、业绩发布 公司总经理助理、董事会秘书伊成儒对公司2025年上半年经营 业绩进行了报告，包括2025年上半年 ...

Core Viewpoint - Zhonglv Electric has shown active market performance with a notable increase in stock price, reflecting positive investor sentiment and market activity [1][3]. Group 1: Stock Performance - As of 11:20 AM, Zhonglv Electric's stock price reached 9.51 yuan, up 0.46 yuan, representing a 5.08% increase with a trading volume of 355 million yuan [1]. - The stock has demonstrated a recovery trend since its recent low, with fluctuations between 9.10 and 9.45 yuan, indicating a 3.87% volatility and a divergence of opinions among investors [3]. Group 2: Market Drivers - The market's interest in Zhonglv Electric is driven by several factors: supportive policies for the green energy sector, especially with the approaching carbon peak targets [3]. - There are expectations for asset injections from the state-owned parent company, which keeps investors attentive to potential high-quality asset contributions [3]. - The company is recognized for its high dividend expectations, providing a safety margin for investors due to its stable cash flow as a power enterprise [3]. - The valuation recovery logic is also significant, as Zhonglv Electric's valuation remains relatively low compared to its peers in the industry [3]. Group 3: Financial Outlook - The company’s board approved a share buyback proposal on August 28, pending shareholder approval for implementation [3]. - As of August 28, the largest shareholder, Luneng Group, holds a 68.61% stake in the company [3]. - The company anticipates a net profit of 559 million to 756 million yuan for the first half of 2025, reflecting a year-on-year growth of 20.27% to 62.72%, primarily due to increased electricity generation from new projects and effective cost control measures [3]. Group 4: Future Considerations - Zhonglv Electric is expected to continue its recovery trend driven by policy support and fundamental improvements [4]. - Investors should monitor the overall valuation changes in the green energy sector and the impact of project construction progress on future performance [4].

Group 1 - The company emphasizes the importance of enhancing power generation capacity while focusing on electricity consumption and marketing capabilities [1] - The company is actively expanding customer channels and consumption pathways to establish a "new energy +" integrated business model [1] - The company is engaging with high energy-consuming enterprises to improve electricity marketing capabilities and grid connection pricing levels [1]