（文章来源：证券日报） 证券日报网讯 2月25日，粤电力A在互动平台回答投资者提问时表示，公司预计将于2026年3月31日披露 2025年度报告，相关情况请届时查阅。 ...

每经AI快讯，有投资者在投资者互动平台提问：请问粤电力A前三季度火电机组平均供电煤耗是多少？ 四季度气电机组盈利情况如何？ 粤电力Ａ（000539.SZ）2月25日在投资者互动平台表示，公司预计将于2026年3月31日披露2025年度报 告，相关情况请届时查阅。 （文章来源：每日经济新闻） ...

Investment Rating - The investment rating for the utility sector is "Positive" [2] Core Insights - The report highlights the recent issuance of guidelines by the National Development and Reform Commission and the National Energy Administration aimed at establishing a unified national electricity market by 2030, with a target of 70% market-based trading by that year [5] - The European natural gas inventory has dropped to a low level due to extreme cold and supply disruptions, with the average daily net withdrawal in January 2025 reaching a five-year high [5] - The report suggests that the electricity sector is expected to see profit improvement and value reassessment following several rounds of supply-demand tensions [5] Summary by Sections Market Performance - As of February 13, the utility sector declined by 1.2%, underperforming the broader market, with the electricity sector down by 1.13% and the gas sector down by 2.27% [4][12] - The top-performing companies in the electricity sector included Zhongmin Energy and Huaneng International, while Nanshan Energy and Guikang Power saw significant declines [16] Electricity Industry Data Tracking - The price of thermal coal at Qinhuangdao Port increased by 19 CNY/ton week-on-week, reaching 712 CNY/ton as of February 13 [4][21] - Coal inventory at Qinhuangdao Port decreased to 5.45 million tons, down by 180,000 tons week-on-week [28] - Daily coal consumption in inland provinces was 3.148 million tons, down by 609,000 tons/day, with a usable days increase to 28.38 days [30] Natural Gas Industry Data Tracking - The LNG ex-factory price index in Shanghai was 3,759 CNY/ton, down 15.03% year-on-year and 5.20% week-on-week [56] - The EU natural gas supply for week 5 of 2026 was 6.19 billion cubic meters, up 13.4% year-on-year [62] - The average daily consumption of natural gas in the EU was estimated at 11.33 billion cubic meters, up 26.0% year-on-year [5] Key Industry News - The report discusses the establishment of a national electricity market system with specific reform tasks outlined for achieving a fully market-based electricity resource allocation by 2035 [5] - The report notes that the European natural gas inventory has fallen to 50.36%, significantly below the average levels of previous years, raising concerns about potential shortages [5] Investment Recommendations - For the electricity sector, the report recommends focusing on leading coal power companies such as Guodian Power and Huaneng International, as well as regional leaders in tight supply areas [5] - In the natural gas sector, companies with low-cost long-term gas sources and receiving station assets are expected to benefit from market conditions [5]

茂名博贺电厂总投资74.84亿元，年设计发电量86亿千瓦时，但市场担忧在电价下行周期中，新机组投 产初期可能面临高固定成本摊销压力。此外，公司"十五五"规划仍处编制阶段，新能源转型进度（如海 上风电、大基地项目）尚未形成规模效应，投资者更关注短期业绩确定性。 截至2025年9月末，公司资产负债率达79.45%，财务费用16.57亿元，高负债率叠加新项目投产带来的折 旧及财务成本增加，进一步挤压利润空间。尽管2025年前三季度新能源业务归母净利润贡献1.05亿元， 但煤电、气电等传统业务盈利波动较大，整体业绩复苏缓慢。 项目进展 从技术指标看，2月13日股价跌破20日均线（4.834元），MACD柱状图转负至-0.022，KDJ指标呈空头 排列（K=40.254，D=44.251）。当日成交额1.37亿元，换手率1.12%，主力资金净流出态势延续。此前 一周（2月10-14日）主力资金合计净流出1551.93万元，反映资金对短期基本面改善信心不足。 财务状况 经济观察网 粤电力A在2026年2月13日收盘报4.76元，下跌3.05%，显著跑输大盘（上证指数跌1.26%） 和电力板块（跌1.34%）。尽管公司茂名 ...

（文章来源：证券日报） 证券日报网讯 2月12日，粤电力A在互动平台回答投资者提问时表示，汇率波动可一定程度影响公司进 口燃料采购成本，但2025年第四季度公司经营业绩同比改善主要是受上网电量同比增长8%、燃料价格 同比下降、电力市场交易策略优化及公司对成本费用有效管控等因素综合影响。 ...

Core Viewpoint - The company is focusing on accelerating energy transition in line with the "carbon peak" and "carbon neutrality" goals, particularly emphasizing offshore wind power projects [1] Group 1: Company Development Plans - The company is currently drafting its 14th Five-Year Plan, which includes a strong emphasis on renewable energy development [1] - Future projects will prioritize offshore wind power among other renewable energy initiatives [1] Group 2: Industry Trends - The company aims to optimize its power generation structure and promote a clean and low-carbon transition in response to industry trends [1]

Group 1: Major Announcements - Unisplendour plans to raise no more than 5.57 billion yuan through a private placement to acquire a 6.98% stake in New H3C and for other projects [2] - Zhongwei Semiconductor intends to establish an IPM production line project in Ziyang, Sichuan, using 1.21 billion yuan of leftover IPO funds [2] - Kaiying Network has signed a settlement agreement with Legend IP, which is expected to positively impact the company's profit by approximately 200 million yuan [2] Group 2: Project Developments - Blue Ocean Huaten plans to invest 8 million yuan in Wanren Technology to support its daily operations and AI project development [4] - Yuedian Power A has successfully put into operation the expansion project of the Huizhou Power Plant, which includes two 1000MW units [7] - Longmag Technology intends to raise up to 760 million yuan for its second phase project in Vietnam and chip inductor manufacturing [8] Group 3: Financial Performance - Top Group expects a net profit of 2.6 billion to 2.9 billion yuan for 2025, a decrease of 3.35% to 13.35% year-on-year due to rising raw material costs and increased market competition [20] - Jingchen Technology reported a net profit of 871 million yuan for 2025, a 6% increase year-on-year, with record high sales of over 174 million chips [21] - Guodian Xintong's net profit for 2025 is projected at 678 million yuan, a decline of 16.91% year-on-year, primarily due to increased credit impairment losses and tax expenses [22] Group 4: Shareholder Actions - Jieshun Technology's actual controller plans to reduce holdings by up to 2.8% of the company's shares [27] - Lihexing's controlling shareholder and concerted actors plan to collectively reduce their holdings by up to 1% [27] - Kory Technology's shareholders plan to reduce their holdings by a total of up to 3.13% [29] Group 5: Stock Buybacks - Quzhou Dongfeng plans to repurchase shares worth between 50 million and 100 million yuan, with a maximum price of 6.48 yuan per share [30]

Core Viewpoint - The company, Guangdong Electric Power A, has outlined its construction plans for coal and gas power generation capacity, indicating significant future investments in energy infrastructure [1] Group 1: Coal Power Generation - As of the end of 2025, the company has 5 million kilowatts of coal power generation capacity under construction [1] - Approximately 3 million kilowatts of this capacity is expected to be operational within 2026, with the remainder anticipated to come online in 2027 [1] Group 2: Gas Power Generation - The company has around 2.942 million kilowatts of gas power generation capacity under construction, including projects like Dannan Sea and Yunhe [1] - About 970,000 kilowatts of the gas capacity is projected to be operational in 2026, with the rest expected to be completed in 2027 [1] Group 3: Project Timeline - The actual commissioning dates for the projects may vary based on construction progress [1]

证券日报网2月11日讯 ，粤电力A在接受调研者提问时表示，根据广东电力交易中心公布数据，2026年 度广东电力市场双边协商成交均价进一步下降，公司仍面临较大经营压力，未来公司将继续着力控制燃 料采购成本，优化电力市场交易策略，严控各项成本费用，争取改善经营业绩。 （编辑 姚尧） ...

证券日报网2月11日讯 ，粤电力A在接受调研者提问时表示，2025年度，由于电力市场竞争加剧及相关 政策调整，公司燃煤机组上网电价同比显著下行，对全年营业收入形成较大压力；燃煤价格下降对公司 控制成本产生一定积极作用，但未能抵销电价下降对利润的不利影响，燃煤机组平均发电毛利同比下 降。 （编辑 姚尧） ...