2025 年可再生能源电力消纳责任权重下发，5 月 LNG 进口量同比下降 26.3% 【】【】[Table_Industry] 公用事业—电力天然气周报 [Table_ReportDate] 2025 年 7 月 12 日 15666646523.tcy [Table_StockAndRank] 公用事业 投资评级 看好 上次评级 看好 [左前明 Table_Author] 能源行业首席分析师 执业编号：S1500518070001 联系电话：010-83326712 邮 箱：zuoqianming@cindasc.com 李春驰 电力公用联席首席分析师 邢秦浩 电力公用分析师 执业编号：S1500524080001 联系电话：010-83326712 证券研究报告 行业研究——周报 [Table_ReportType] 行业周报 邮 箱：xingqinhao@cindasc.com 化工行业： 唐婵玉 电力公用分析师 执业编号：S1500525050001 邮 箱：tangchanyu@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.，LTD 北京市西城区宣武门西大街 ...

华福证券 火力发电 2025 年 07 月 08 日 公 司 研 究 皖能电力（000543.SZ） 火电参控并进，水光风帆同扬 投资要点： 公 司 首 次 覆 盖 安徽火电龙头，参控齐驱并进：公司是皖能集团旗下电力核心平台，近年 得益于控股股东支持，权益装机规模稳增。公司营收主要来自发电板块，2024 年电力及相关产品营收占比近 80%。除电力外还布局了煤炭业务，积极发展储 能和抽蓄等。据我们整理统计，截至 1Q25，公司控股在运煤电装机容量 13.17GW、气电 0.9GW、新能源约 0.15GW、垃圾焚烧 0.335GW、新型储能 0.103GW，合计控股在运装机 14.66GW。公司是安徽火电龙头，2024 年底安 徽省省调火电装机容量为 4399.6 万千瓦，公司控股在运省调火电机组装机容量 占比 23.7%，位居省内第一。公司参控齐驱并进。公司参股在建煤电 5.96GW （权益装机 1.91GW），此外还参股了抽蓄项目等，预计公司投资收益将进一 步增长，增厚公司业绩。 火电根基稳固，战略布局新疆：截至 1Q2025 末，公司控股在运火电 14.07GW（煤 13.17+气 0.9），主要分布在安徽 ...

Core Viewpoint - The announcement details that Anhui Waneng Capital Investment Co., Ltd., a wholly-owned subsidiary of the controlling shareholder Anhui Energy Group Co., Ltd., has increased its shareholding in Waneng Power by 5,947,930 shares, representing 0.26% of the total share capital, bringing the total shareholding of the Energy Group and its concerted actors to 1% of the total share capital [1][2]. Group 1 - The shareholding structure before and after the increase shows that Anhui Energy Group holds 1,245,208,342 shares (54.93%), while Waneng Capital now holds 5,947,930 shares (0.26%), resulting in a total of 1,292,177,272 shares (57.00%) held by the group [1][2]. - The increase in shareholding occurred from June 13, 2025, to July 3, 2025, through centralized bidding [1]. - The investment plan aims to enhance investor confidence and support the company's sustainable development, with a planned investment amount between RMB 75 million and RMB 150 million [2]. Group 2 - The announcement confirms that the increase in shareholding does not violate any laws or regulations, including the Securities Law and the Management Measures for the Acquisition of Listed Companies [2]. - The company and its controlling shareholders have committed to not reducing their shareholdings during the implementation period of the increase and will comply with relevant laws and regulations [2].

安徽省皖能股份有限公司(以下简称"公司")于近日收到控股股东安徽省 能源集团有限公司(以下简称"能源集团")全资子公司安徽省皖能资本投资有 限公司（以下简称"皖能资本"）出具的《关于增持皖能电力股份触及 1%的告 知函》，知悉皖能资本于 2025 年 6 月 13 日至 2025 年 7 月 3 日期间通过集中竞 价方式增持公司股份 5,947,930 股，占公司总股本的 0.26%，能源集团及其一 致行动人增持比例触及公司总股本 1%的整数倍。本次增持计划尚未实施完毕， 皖能资本将继续实施增持计划。 现将有关情况公告如下: 股东名称 本次权益变动前 本次权益变动后 持股数量 （股） 持 股 比 例 （%） 持股数量 （股） 持股比例 （%） 能源集团 1,245,208,342 54.93 1,245,208,342 54.93 安徽省皖能 能源物资有 限公司 41,021,000 1.81 41,021,000 1.81 皖能资本 0 0 5,947,930 0.26 合计 1,286,229,342 56.74 1,292,177,272 57.00 一、公司控股股东及其一致行动人权益变动前后的持股情况 ...

Group 1 - The announcement is regarding the interest payment for the second phase of medium-term notes (MTN) for the year 2024 by Anhui Wan Energy Co., Ltd [1] - The bond in question is identified as 24 Wan Energy MTN002 with the bond code 102482899 [1] - The interest payment will be processed by the China Interbank Market Clearing House Co., Ltd, and will be credited to the designated bank accounts of bondholders [1] Group 2 - If the interest payment date coincides with a public holiday, the payment will be postponed accordingly [1] - Bondholders must notify the clearing house in advance of any changes to their designated bank account for the payment to avoid delays [1] - The company and the clearing house will not be liable for any losses incurred due to failure in timely notification of changes by bondholders [1]

2.债券名称：安徽省皖能股份有限公司 2024 年度第二期中期票据 3.债券简称：24 皖能股 MTN002 股票代码：000543 股票简称：皖能电力 公告编号：2025-33 安徽省皖能股份有限公司 关于 2024 年度第二期中期票据付息公告 安徽省皖能股份有限公司（以下简称"公司"或"本公司"）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。 为保证 24 皖能股 MTN002（债券代码：102482899）付息工作的顺利进行， 方便投资者及时领取付息资金，现将有关事宜公告如下： 一、本期债券基本情况 1.发行人：安徽省皖能股份有限公司 4.债券代码：102482899 5.发行总额：5 亿元 6.本计息期债券利率：2.23% 7.付息日：2025 年 7 月 8 日 二、付息办法 托管在银行间市场清算所股份有限公司的债券，其付息资金由银行间市场清 算所股份有限公司划付至债券持有人指定的银行账户。债券付息日或到期付息日 如遇法定节假日，则划付资金的时间相应顺延。债券持有人资金汇划路径变更， 应在付息前将新的资金汇划路径及时通知银行间市场清算所股份有限公司。因债 ...

证券代码：000543 证券简称：皖能电力 公告编号：2025-32 安徽省皖能股份有限公司 2024 年度分红派息实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 本公司 2024 年度利润分配方案已获 2025 年 5 月 22 日召开的 2024 年度股 东大会审议通过。现将具体实施事宜公告如下： 一、股东大会审议通过利润分配方案情况 1.具体分配方案为：以公司现有总股本 2,266,863,331 股为基数，向全体股东 每 10 股派 3.19 元人民币现金（含税）；共计派现金红利 723,129,402.59 元；本 年度不送红股，不以资本公积金转增股本。 4.本次实施分配方案距离股东大会审议通过的时间未超过两个月。 2.自分配方案披露至实施期间公司股本总额未发生变化。 3.本次实施的分配方案与股东大会审议通过的分配方案一致。 本公司 2024 年年度权益分派方案为：以公司现有总股本 2,266,863,331 股为 基数，向全体股东每 10 股派 3.19 元人民币现金（含税；扣税后，通过深股通持 有股份的香港市场投资者、境外机构（含 QF ...

Core Viewpoint - The company has approved a profit distribution plan for the year 2024, which includes a cash dividend for shareholders [1] Summary by Relevant Sections - **Profit Distribution Plan**: The company will distribute a cash dividend of 3.19 RMB per 10 shares, totaling 723 million RMB, based on a total share capital of 2.267 billion shares [1] - **Key Dates**: The record date for the dividend distribution is June 24, 2025, and the ex-dividend date is June 25, 2025 [1] - **Eligible Shareholders**: The dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited in Shenzhen as of the close of trading on June 24, 2025 [1]

Core Viewpoint - Anhui-based listed company Waneng Power (000543.SZ) is set to receive a share buyback from its major shareholder, reflecting confidence in the company's future development prospects [1][5]. Shareholder Actions - Waneng Capital, a wholly-owned subsidiary of the controlling shareholder, plans to increase its stake in Waneng Power with an investment between 75 million and 150 million yuan [1][5]. - The controlling shareholder, Anhui Energy Group, and its affiliates hold a combined 56.74% of Waneng Power's shares, indicating a strong controlling position [1][5]. Financial Performance - Waneng Power's total assets reached 66.602 billion yuan by the end of 2024, nearly doubling from 33.692 billion yuan at the end of 2020 [11]. - The company reported a net profit attributable to shareholders of 2.064 billion yuan in 2024 and 444 million yuan in the first quarter of the same year [3][14]. - Cumulatively, Waneng Power has earned approximately 12.7 billion yuan since its listing [4][15]. Asset Acquisition and Transformation - Since 2019, Waneng Power has invested a total of 6.382 billion yuan to acquire assets from Anhui Energy Group, including renewable and clean energy projects [9][10]. - The company has been actively transforming its business model, focusing on becoming a leading integrated energy service provider [12]. Renewable Energy Initiatives - In 2024, Waneng Power's subsidiaries have successfully launched multiple solar power projects, contributing to its renewable energy portfolio [13]. - The company aims to enhance its development in renewable energy through various strategies, including independent development and external acquisitions [13]. Market Position - Waneng Power holds a leading position in the province's thermal power generation, with a 23.7% share of the operational thermal power capacity [12].

Group 1 - Wanan Power announced that its controlling shareholder, Wanan Capital, plans to increase its stake in the company by no less than 75 million yuan and no more than 150 million yuan within three months [1] - The planned share buyback reflects Wanan Capital's confidence in the company's future development and is expected to enhance stock stability and market confidence [1] - Investors are advised to monitor the implementation of the buyback plan and changes in the company's fundamentals for informed investment decisions [1] Group 2 - Linyang Energy's subsidiary won a bid for a grid-side energy storage project in Mauritius, with a total bid amount of approximately 1.79 billion yuan [2] - This project represents 2.66% of Linyang Energy's audited revenue for 2024 and is expected to positively impact the company's operations and performance in 2025 and beyond [2] - The successful bid demonstrates Linyang Energy's international competitiveness in the energy storage sector and supports its global strategy [2] Group 3 - GCL-Poly's co-CEO, Lan Tianshi, revealed plans to establish a company to clear silicon material capacity through acquisitions, utilizing a model of "direct investment + debt" [3] - This innovative approach aims to effectively integrate industry resources, improve capacity utilization efficiency, and promote industrial upgrades [3] - Lan Tianshi's proposal indicates GCL-Poly's proactive stance in fostering healthy industry development and hints at new trends in industry collaboration and capital operations [3]