浩律師(石家莊)事務所 ALL LAW FIRM (SHIJIAZHUAN) R庄市中山西路 108 号华润大厦 B 座 18 层 邮编: ors, Block B, Huarun Building, 108 Zhongshan West Road, Shijiazhuang City, Hebei Pr 电话/Tel: + 86 0311 85288350 传真/Fax: + 86 0311 85288321 网址/Website:http://www.grandall.com.cn 国浩律师(石家庄)事务所 关于河北建投能源投资股份有限公司 二〇二五年第四次临时股东大会的法律意见书 致:河北建投能源投资股份有限公司(简称"贵公司") 国浩律师(石家庄)事务所(简称"本所")接受贵公司的委托,指派敬 晓丹律师和廖婉婷律师参加了贵公司二〇二五年第四次临时股东大会,并 进行了见证工作。现根据《中华人民共和国公司法》(简称"《公司法》")、《上 市公司股东会规则》(简称"《股东会规则》")以及贵公司《公司章程》的规 定,对贵公司二〇二五年第四次临时股东大会(简称"本次股东大会")的召 集、召开程序、出席会议人员资 ...

Group 1 - Huaneng Power announced that its shareholder Hunan Energy Group plans to reduce its stake by up to 20.31 million shares, not exceeding 1% of the total share capital [1] - Ankai Bus reported a production of 1,012 buses in August, a year-on-year increase of 68.06%, with sales of 773 buses, up 46.95% year-on-year [1] - Lianhuan Pharmaceutical received a drug registration certificate for Famotidine injection, classified as a Class 3 chemical drug [1][2] Group 2 - Dongrui Co. reported sales of 94,800 pigs in August, generating revenue of 160 million yuan, a month-on-month decrease of 5.48% [3] - Tiancheng Control's subsidiary received a notification for a passenger car seat assembly project, expected to start production in April 2026 [5] - ST Huluwa obtained a drug registration certificate for Cefodizime capsules, a third-generation broad-spectrum cephalosporin [6] Group 3 - Jiulong Biotech announced the resignation of its Vice Chairman and General Manager Liang Hongjun due to work adjustments [8] - Guanhua High-tech's shareholder plans to reduce its stake by up to 17.50 million shares, not exceeding 1% of the total share capital [9] - Hebei Steel received approval to issue bonds totaling up to 10 billion yuan [10] Group 4 - Yunnan Energy Investment's subsidiaries received a total of 309 million yuan in renewable energy price subsidies [12] - Zhenghong Technology reported sales of 16,800 pigs in August, with a revenue of 22.87 million yuan, showing a year-on-year increase in sales volume of 63.31% [14] - Jilin Aodong's subsidiary received a drug registration certificate for a solution used in asthma treatment [16] Group 5 - Aonong Biological reported a 26.84% year-on-year increase in pig sales volume in August, reaching 150,100 pigs [18] - Xingdesheng announced a share repurchase plan with a budget of 15 to 30 million yuan [20] - Yueyang Lin Paper's Chairman Ye Meng resigned due to work adjustments [22] Group 6 - Kangchen Pharmaceutical's controlling shareholder plans to reduce its stake by up to 4.78 million shares, not exceeding 3% of the total share capital [23] - Changchun Yidong's General Manager Liu Xiaodong resigned due to work adjustments [25] - Zhongzai Resources' subsidiary received a government subsidy of 12.75 million yuan [26] Group 7 - Tianyu Biological reported a 41.89% month-on-month increase in sales revenue from pig sales in August [27] - Changfei Optical's shareholder Draka Comteq B.V. reduced its stake from 10% to 5% [27] - Zhongchuan Technology's Chairman Wu Xingwang resigned due to work adjustments [28] Group 8 - Huakang Clean announced a successful bid for a medical service construction project valued at 131 million yuan [29] - Yuegui Co. plans to establish a wholly-owned subsidiary with a registered capital of 100 million yuan [31] - Baisheng Intelligent's Vice General Manager and Board Secretary Huang Lijun resigned for personal reasons [32] Group 9 - Jiangsu Shuntian will change its stock name to "Suhao Fashion" starting September 10, 2025 [34] - Jiahe Meikang's shareholder plans to reduce its stake by up to 1.3759 million shares, not exceeding 1% of the total share capital [35] - Heng Rui Pharmaceutical received approval for clinical trials of HRS-4729 injection [37] Group 10 - Changfei Optical's shareholder plans to reduce its stake by up to 110,000 shares, not exceeding 0.15% of the total share capital [39] - Yutong Bus reported sales of 4,260 vehicles in August, a year-on-year increase of 16.78% [40] - JinkoSolar received 646 million yuan in renewable energy subsidies in August, a 248% increase year-on-year [41] Group 11 - Beijing Lier signed a strategic cooperation agreement with SenseTime and Xiwang Technology for AI collaboration [43] - Gongdong Medical's controlling shareholder plans to reduce its stake by up to 3% [44] - Zhonghuan Hailu terminated its control change plan and resumed trading [46] Group 12 - Longzi Co. reported a tax payment of 22.27 million yuan due to a tax audit [48] - Guoguang Chain's controlling shareholder plans to reduce its stake by up to 2.99% [49] - Guoxin Technology successfully tested a new high-performance chip for automotive electronics [50] Group 13 - GF Securities reported a cumulative increase in borrowings exceeding 20% of its net assets [51] - China Construction Bank's subsidiary plans to increase capital by 3 billion yuan [52] - Jifeng Technology plans to establish a wholly-owned subsidiary with a capital of 50 million yuan [53] Group 14 - Jiantou Energy received approval for a stock issuance plan to specific investors [54] - Shanghai Laishi's executives plan to collectively increase their holdings by at least 6 million yuan [55] - Wencan Co. reported a fire incident at its subsidiary, with no casualties reported [56]

证券日报网讯建投能源（000600）9月5日在互动平台回答投资者提问时表示，公司参股投资的河北沧州 海兴核电项目已于2020年4月被河北省纳入《国家"十四五"规划纲要》重大项目申报材料清单，目前海 兴核电项目航磁测量相关报告已完成编制并通过专家评审，后续按照有关部门要求推进前期工作。 ...

Core Viewpoint - The company is actively promoting the construction of a virtual power plant platform to adapt to the new energy management system and enhance the integration of distributed energy resources [1] Group 1: Virtual Power Plant Development - The virtual power plant is a new energy management system developed to accommodate the new type of power system [1] - It aggregates distributed energy resources such as photovoltaics, energy storage, and controllable loads to form an "urban power regulation pool" [1] - The system aims to enable intelligent and flexible participation of demand-side resources in system regulation [1] Group 2: Technological Integration - The company is utilizing Internet of Things (IoT) technology to integrate distributed resources [1] - This integration is intended to promote the consumption of renewable energy [1] Group 3: Company Involvement - The company has not participated in the construction of related artificial intelligence bases [1]

证券代码：149743 证券简称：21建能02 河北建投能源投资股份有限公司关于向特定对象发行股票获得河北建投集团批复的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈述或者重大遗 漏。 近日河北建投能源投资股份有限公司（以下简称"公司"）收到控股股东河北建设投资集团有限责任公司 （以下简称"河北建投集团"）出具的《关于同意河北建投能源投资股份有限公司向特定对象发行股票预 案的批复》（冀建投资本字〔2025〕1号），按照国务院国资委、财政部、证监会联合发布的《上市公 司国有股权监督管理办法》(国资委、财政部、证监会令第36号)的相关规定，河北建投集团同意公司本 次以竞价方式向不超过35名特定对象发行不超过231,141,279股股票的方案。 证券代码：000600 证券简称：建投能源 公告编号：2025-56 本次向特定对象发行股票相关事项尚需获得公司股东大会审议通过，并经深圳证券交易所审核通过及中 国证券监督管理委员会作出同意注册决定后方可实施。公司将根据该事项的实际进展情况，按照相关规 定及时履行信息披露义务。 证券代码：149516 证券简称：21建能01 特此公告。 ...

Core Viewpoint - Hebei Jiantou Energy Investment Co., Ltd. has received approval from its controlling shareholder, Hebei Construction Investment Group, to issue up to 231,141,279 shares to no more than 35 specific investors through a competitive bidding process [1][2]. Group 1 - The approval is in accordance with the relevant regulations set forth by the State-owned Assets Supervision and Administration Commission, the Ministry of Finance, and the China Securities Regulatory Commission [2]. - The issuance of shares is subject to the approval of the company's shareholders' meeting, as well as review and approval by the Shenzhen Stock Exchange and the China Securities Regulatory Commission [2]. - The company will fulfill its information disclosure obligations in accordance with relevant regulations based on the actual progress of this matter [2].

人民财讯9月4日电，建投能源（000600）9月4日晚间公告，公司收到控股股东河北建投集团出具的批 复，同意公司以竞价方式向不超过35名特定对象发行不超过2.31亿股股票的方案。 ...

| 证券代码：000600 | 证券简称：建投能源 | 公告编号：2025-56 | | --- | --- | --- | | 证券代码：149516 | 证券简称：21建能01 | | | 证券代码：149743 | 证券简称：21建能02 | | 河北建投能源投资股份有限公司 关于向特定对象发行股票 获得河北建投集团批复的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 近日河北建投能源投资股份有限公司（以下简称"公司"）收到控股 股东河北建设投资集团有限责任公司（以下简称"河北建投集团"）出具 的《关于同意河北建投能源投资股份有限公司向特定对象发行股票预案 的批复》（冀建投资本字〔2025〕1 号），按照国务院国资委、财政部、 证监会联合发布的《上市公司国有股权监督管理办法》(国资委、财政部、 证监会令第 36 号)的相关规定，河北建投集团同意公司本次以竞价方式 向不超过 35 名特定对象发行不超过 231,141,279 股股票的方案。 本次向特定对象发行股票相关事项尚需获得公司股东大会审议通过， 并经深圳证券交易所审核通过及中国证券监督管理委员会 ...

Group 1 - The core viewpoint is that many power generation companies have improved their operating performance due to the continuous decline in coal prices, leading to significant profit growth in the first half of the year [1][2] - The five major power generation groups reported a total net profit of 24.267 billion yuan, surpassing the total net profit of the same period last year, marking the highest net profit since 2016 [1] - Several companies, including Huayin Power and Yunnan Energy, reported net profit growth exceeding 100%, with Huayin Power's net profit reaching 207 million yuan, a year-on-year increase of 4147% [1] Group 2 - The decline in coal prices has effectively offset the decrease in electricity prices, with the average coal price at Caofeidian Port dropping to 618 yuan/ton, a decrease of over 20% year-on-year [2] - The average coal price for major companies like Huadian International and Guodian Power decreased by approximately 12.98% and 9.5% respectively [2] - Despite the profit increase, many companies reported a decline in both the on-grid electricity price and the on-grid electricity volume, indicating a potential long-term impact on future operations [2] Group 3 - Local power companies have experienced similar revenue dynamics, with Anhui Huadian Power's operating costs decreasing by 8.51% while revenue fell by 5.83% due to lower electricity generation and prices [3] - The current trend indicates that thermal power plants are increasingly being used for peak regulation rather than as base-load power sources, leading to a decline in annual utilization hours [3] - The ability to adapt to market dynamics and optimize generation based on electricity prices will be crucial for the future profitability of thermal power plants [3] Group 4 - The competition in the electricity market is intensifying, with new coal power approvals increasing by 152% year-on-year, indicating a potential oversupply in the market [4] - The distribution of new projects is uneven, with a significant concentration in the northern regions of China [4] Group 5 - The impact of the national electricity market construction varies by region, with areas like Zhejiang and Guangdong benefiting from high electricity demand and prices, while western regions face challenges due to high clean energy ratios [5] - Coal power plants need to enhance their flexibility and adjust their operations to accommodate the increasing share of renewable energy [5] Group 6 - The "three reform linkage" refers to the technical upgrades of coal power units, including energy-saving, heating, and flexibility improvements, which are essential for adapting to the evolving electricity market [6] - Many projects for upgrading coal power plants are facing challenges due to high investment costs and unclear economic returns, which may hinder their approval [6] - The future profitability of coal power is expected to be closely tied to its role in ensuring the safety and stability of the electricity system during the transition to cleaner energy sources [6]

Investment Rating - The report maintains an "Overweight" rating for the utility sector [1]. Core Insights - The weighted average price of electricity in Jiangsu for September 2025 was 319.48 RMB/MWh, which is lower than market expectations. The total electricity traded was 8.111 billion kWh, with various sources contributing different amounts and prices [4]. - The report highlights a continued increase in electricity demand, with a 3.7% year-on-year growth in total electricity consumption for the first half of 2025 [15]. - The report suggests investment opportunities in green energy, photovoltaic assets, charging station assets, thermal power, hydropower, and nuclear power, emphasizing the potential for value reassessment in these areas [4]. Summary by Sections 1. Market Review - The SW utility index decreased by 0.67% from August 25 to August 29, 2025, underperforming compared to the ChiNext index [9]. - The top five gainers included Zhaoxin Co. (+33.6%) and Tianlun Gas (+13.2%), while the top five losers included ST Shengda (-9.5%) and Jiawei New Energy (-7.9%) [13]. 2. Electricity Sector Tracking 2.1. Electricity Consumption - Total electricity consumption in H1 2025 reached 4.84 trillion kWh, reflecting a 3.7% year-on-year increase [15]. - The growth rates for different sectors were: primary industry (+8.7%), secondary industry (+2.4%), tertiary industry (+7.1%), and urban-rural residential consumption (+4.1%) [15]. 2.2. Power Generation - Total power generation in H1 2025 was 4.54 trillion kWh, with a year-on-year increase of 0.8%. However, thermal and hydropower generation saw declines of 3.1% and 2.9%, respectively [23]. 2.3. Electricity Prices - The average electricity purchase price in August 2025 was 388 RMB/MWh, down 2% year-on-year but up 1.3% month-on-month [41]. 2.4. Thermal Power - The price of thermal coal at Qinhuangdao port was 690 RMB/ton as of August 29, 2025, a decrease of 17.76% year-on-year [46]. - The cumulative installed capacity of thermal power reached 1.47 billion kW, with an increase of 4.7% year-on-year [49]. 2.5. Hydropower - The water level at the Three Gorges Reservoir was 162.19 meters, which is normal compared to previous years. Inflow and outflow rates increased by 35.48% and 47.46% year-on-year, respectively [55]. 2.6. Nuclear Power - In 2024, 11 new nuclear units were approved, indicating a positive trend in the development of nuclear power [67]. 2.7. Green Energy - New installations of wind and solar power in H1 2025 increased by 99% and 107% year-on-year, respectively [4]. 3. Investment Recommendations - The report recommends focusing on companies like Changjiang Electric for high dividend yield assets, and suggests monitoring companies involved in green energy and charging stations for potential value reassessment [4].