| 证券代码：000537 | 证券简称：中绿电 | | | 公告编号：2025-069 | | --- | --- | --- | --- | --- | | 债券代码：148562 | 债券简称：23 | 绿电 | G1 | | 天津中绿电投资股份有限公司 序号 持有人名称 持股数量（股） 占总股本比 例（%） 1 鲁能集团有限公司 1,417,909,637.00 68.61 2 三峡资本控股有限责任公司 24,809,766.00 1.20 3 香港中央结算有限公司 17,430,565.00 0.84 4 中国农业银行股份有限公司－中证 500 交易型开放式指数证券投资基金 11,928,905.00 0.58 5 国联信托股份有限公司－国联信托·惠 越 24008 号集合资金信托计划 7,936,507.00 0.38 6 贝国浩 7,827,163.00 0.38 7 天津融创私募股权投资基金管理有限公 司－天津海河融创津京冀智能产业基金 7,737,907.00 0.37 一、前十大股东持股情况 | | 合伙企业（有限合伙） | | | | --- | --- | --- | --- | | ...

证券日报网讯中绿电（000537）9月12日在互动平台回答投资者提问时表示，公司披露的2025年上半年 累计发电量92.99亿千瓦时，为公司全口径统计数据。公司将按季度定期披露发电量和上网电量完成情 况，届时敬请关注。 ...

Core Viewpoint - The company reported a total power generation of 9.299 billion kilowatt-hours for the first half of 2025, which is based on full-caliber statistics rather than equity generation [1] Group 1 - The company's solar power generation for the first half of the year was 5.148 billion kilowatt-hours [1] - The company indicated that it will regularly disclose power generation and grid-connected power completion status on a quarterly basis [1] - The highest daily power generation recorded by Xinjiang Zhonglv Electric reached 60 million kilowatt-hours recently, with significant daily outputs noted on March 2 and June 25 [1]

Core Viewpoint - The company reported a total power generation of 9.299 billion kilowatt-hours for the first half of 2025, which is based on full-caliber statistics [2] Group 1: Power Generation Data - The company's total power generation for the first half of 2025 is 9.299 billion kilowatt-hours [2] - The solar power generation for the first half of 2025 was 5.148 billion kilowatt-hours [2] - The company indicated that the highest daily power generation reached 60 million kilowatt-hours recently [2] Group 2: Investor Interaction - An investor inquired whether the reported power generation figures were based on equity or full-caliber statistics [2] - The company confirmed that it will regularly disclose power generation and grid connection data on a quarterly basis [2]

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]