2025年05月15日，建投能源2024年度暨2025年一季度网上业绩说明会在全景网顺利举行。出席本次业绩 说明会的人员有党委书记、副董事长、总经理王剑峰、独立董事赵丽红、党委委员、副总经理、董事会 秘书孙原、党委委员、财务负责人张贞。 根据全景数据后台统计，在今天的交流过程中，来自全国多个省、市地区的投资者共向上市公司提问36 个，公司嘉宾共回答问题36个，答复率100.00%，充分实现了上市公司与投资者的良好互动。 以下为业绩说明会问答实录： 1、问：尊敬的王剑峰书记：2024年公司的火电装机容量是1177万千瓦，请问咱们公司后续还有没有新 的火电项目投资计划？【征集问题】 回答：您好！公司持续推进控股火电项目的开发建设,其中西柏坡电厂四期2×66万千瓦项目、任丘热电 二期2×35万千瓦项目已开工建设，计划2026年实现投产运营；参股定州三期2×66万千瓦、沧东三期 2×66万千瓦和秦电2×35万千瓦项目已处于建设期，衡丰二期2×66万千瓦项目正在开展项目前期工作。 2、问：煤炭长协价格多久变一次，今年煤价大幅下跌，贵公司煤炭采购价格同步下调了吗？业绩受益 大吗？【征集问题】 回答：尊敬的投资者： 您好！ ...

Investment Rating - The report maintains a positive outlook on the power and natural gas sectors, indicating a favorable investment environment for renewable energy and gas companies [2][10]. Core Insights - The Shandong provincial government has introduced its first local guidelines for the marketization of renewable energy pricing, which is expected to stabilize returns for existing projects and provide a model for other provinces [5][7]. - Global natural gas prices have seen a slight rebound due to tightening supply and increased demand for LNG exports, with specific price movements noted in various regions [10][19]. - The report highlights the potential for LNG import prices to decrease further in the second half of 2025, benefiting downstream gas companies [11][29]. Summary by Sections 1. Power Sector: Shandong's New Energy Market Guidelines - Shandong's new energy pricing reform outlines that existing projects will participate in market pricing at a rate of 0.3949 yuan per kWh, aligning with the provincial coal benchmark price [5][6]. - The guidelines emphasize strong connectivity with existing policies, ensuring stability for existing projects while introducing competitive elements for new projects [6][7]. - The implementation of these guidelines is expected to serve as a model for other provinces, enhancing the operational efficiency and market strategies of renewable energy companies [7][8]. 2. Natural Gas: Global Demand and Price Rebound - As of May 9, 2025, the Henry Hub spot price in the U.S. was $3.22/mmBtu, reflecting a weekly increase of 3.84%, while European prices also saw a rise due to supply constraints and seasonal demand [10][19]. - The report notes that the overall LNG import cost in China has remained below 4000 yuan per ton, with a significant decrease of 18.4% from the year's peak [11][29]. - The anticipated decline in international oil prices is expected to further lower LNG import prices in China, benefiting city gas companies [11][29]. 3. Weekly Market Review - The public utilities, environmental protection, power equipment, and gas sectors outperformed the Shanghai and Shenzhen 300 index during the review period [35]. 4. Company and Industry Dynamics - Recent developments include the issuance of competitive configuration announcements for renewable energy projects in various provinces, indicating ongoing investment and growth in the sector [44][46]. - The report also highlights significant corporate announcements, including financing and profit distribution plans from key players in the energy sector, reflecting a proactive approach to capital management and shareholder returns [48][49].

Group 1 - A new company, Xiong'an Green Carbon Technology Service Co., Ltd., has been established with a registered capital of 10 million yuan [1] - The legal representative of the company is Yu Linfei, and its business scope includes energy management services, environmental consulting services, environmental protection monitoring, and forest carbon sequestration services [1] - The company is jointly held by JianTou Energy (000600) and other stakeholders [1]

Investment Rating - The report maintains a "Recommended" rating for companies like Funiu Co., Huaneng Water Power, and China Nuclear Power, while giving a "Cautious Recommendation" for companies like China General Nuclear Power and Longyuan Power [4][7]. Core Viewpoints - The electricity sector shows resilience with a strong performance in Q1 2025, driven by stable demand and a transition towards peak electricity consumption in Q2 and Q3 [1][11]. - The coal price drop significantly benefits thermal power companies, leading to improved profitability despite a decrease in revenue due to falling electricity prices [2][3]. - Hydropower companies are experiencing stable growth, supported by favorable water conditions and new capacity additions, although they face some pressure from tax payments [2][54]. - Nuclear power continues to expand in capacity, but faces short-term fluctuations in profitability due to tax expenses and market price changes [2][71]. Summary by Sections 1. Electricity Sector Performance - The electricity index has shown strength, with the sector outperforming the broader market in early 2025, despite initial underperformance compared to growth stocks [1][11]. - The sector is expected to maintain steady growth as it enters the peak electricity consumption season in Q2 and Q3 [1][11]. 2. Thermal Power - Thermal power revenue decreased by 1% in 2024 to 1,218.9 billion yuan, with Q1 2025 revenue down 8% year-on-year to 286.9 billion yuan [2][36]. - Despite revenue declines, net profit for thermal power companies increased by 31% in 2024 to 65.6 billion yuan, and by 8% in Q1 2025 to 21.9 billion yuan, benefiting from lower coal prices [2][38]. 3. Hydropower - Hydropower revenue grew by 8.98% in 2024 to 194.4 billion yuan, with Q1 2025 revenue increasing by 8.63% to 417.7 billion yuan [2][54]. - The net profit for hydropower companies rose by 17.48% in 2024 to 56.4 billion yuan, with a significant increase of 28.11% in Q1 2025 to 113.5 billion yuan [2][57]. 4. Nuclear Power - The nuclear power sector achieved a revenue of 164.1 billion yuan in 2024, a 4.17% increase, but net profit fell by 8.23% to 19.6 billion yuan [2][71]. - In Q1 2025, nuclear power revenue rose by 8.42% to 40.3 billion yuan, while net profit decreased by 7.51% to 6.2 billion yuan [2][71]. 5. Green Energy - The green energy sector faced challenges with revenue growth not translating into profit, with 2024 revenue at 143.5 billion yuan, a slight increase of 0.27%, but net profit decreased by 6.48% to 239.9 billion yuan [2][3]. - In Q1 2025, green energy revenue fell by 3.35% to 350.5 billion yuan, with net profit down 6.32% to 77.4 billion yuan [2][3].

河北建投能源投资股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日和 29 日分别披露了《2024 年度报告》及摘要和《2025 年第一季度 报告》。为使广大投资者更全面地了解公司经营业绩、发展战略等情况， 公司定于 2025 年 5 月 15 日（星期四）在全景网举办 2024 年度暨 2025 年一季度网上业绩说明会，就投资者关心的问题进行交流和沟通。本次 业绩说明会具体安排如下： 一、召开时间及方式 | 证券代码：000600 | 证券简称：建投能源 | 公告编号：2025-28 | | --- | --- | --- | | 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 关于召开2024年度暨2025年一季度 网上业绩说明会的公告 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。 （一）召开时间：2025 年 5 月 15 日（星期四）15:00-16:00； （二）召开方式：网络远程方式； （三）参与方式：投资者可登陆全景网"投资 ...

Core Points - The company has successfully completed the issuance of its first medium-term notes for the year 2025, with a registered amount of 2.5 billion yuan [1][2] - The company is not listed as a dishonest entity according to the "Credit China" website [3] Group 1 - The company held a board meeting on November 25, 2022, and a shareholder meeting on December 12, 2022, to approve the proposal for issuing perpetual medium-term notes [1] - On May 25, 2023, the company completed the issuance of its first medium-term notes, which were registered with the China Interbank Market Dealers Association [2] - The registered amount for the medium-term notes is valid for two years from the date of the acceptance notice [1] Group 2 - The company held a board meeting on September 18, 2024, and a shareholder meeting on October 14, 2024, to approve the proposal for issuing ultra-short-term financing bonds [5] - On April 28, 2025, the company completed the issuance of its second ultra-short-term financing bonds for the year 2025, with a registered amount of 1.5 billion yuan [6] - The registered amount for the ultra-short-term financing bonds is also valid for two years from the date of the acceptance notice [6]

Group 1: Production and Financial Performance - In 2024, the company achieved a total electricity generation of 500.1 billion kWh, an increase of 27.5% year-on-year, with an average settlement price of 437.37 RMB/MWh (including tax), a decrease of 2.82% [1] - For the first quarter of 2025, the company reported a generation of 129.58 billion kWh, a decrease of 7.23% year-on-year, and a sales heat volume of 4,017.89 million GJ, down 3.48% [2] - The company’s total revenue for 2024 was 235.17 billion RMB, a year-on-year increase of 20.09%, with a net profit attributable to the parent company of 5.3 billion RMB, up 181.59% [2] Group 2: Cost Management and Coal Supply - In 2024, the company procured 34.01 million tons of electricity coal, with an average comprehensive benchmark price of 775.12 RMB/ton, a decrease of 10.07% year-on-year [1] - The company’s long-term coal supply agreements cover over 80% of its coal needs, with primary sources being Shanxi, Shaanxi, Inner Mongolia, and local Hebei [5] Group 3: Future Projects and Capacity Expansion - In 2025, the company plans to add a controlled installed capacity of 132,000 kW and an equity installed capacity of 119.5 million kW [8] - Ongoing projects include the construction of the Xibaipo Power Plant Phase IV (2×66,000 kW) and the Renqiu Thermal Power Plant Phase II (2×35,000 kW), both expected to be operational by 2026 [8] Group 4: Market Conditions and Trading - The company reported that approximately 80% of the electricity traded in 2025 was through bilateral negotiations [3] - The Hebei region's spot market began trial operations on March 1, 2025, with the company prepared for normal trading activities [4] Group 5: Dividend Policy and Investor Relations - The company has increased its cash dividend distribution from 30% to 50% of the distributable profits as part of its three-year shareholder return plan (2024-2026) [8]

河北建投能源投资股份有限公司（以下简称"公司"）于 2022 年 11 月 25 日召开的第九届董事会第十次临时会议以及 2022 年 12 月 12 日召 开的 2022 年第四次临时股东大会审议通过了《关于拟注册发行永续中期 票据的议案》。 2023 年 5 月 25 日，公司收到中国银行间市场交易商协会《接受注 册通知书》（中市协注〔2023〕MTN579 号）：中国银行间市场交易商协 会于 2023 年 5 月 10 日召开了 2023 年第 57 次注册会议，决定接受公司 中期票据注册，注册金额为 25 亿元，注册额度自通知书落款之日起 2 年 内有效，在注册有效期内可分期发行中期票据。 2025 年 4 月 29 日，公司完成了 2025 年度第一期中期票据（科创票 据）的发行，有关情况如下： | 债券全称 | 河北建投能源投资股份有限公司 | | | | | | --- | --- | --- | --- | --- | --- | | | 2025 年度第一期中期票据（科创票据） | | | | | | 债券简称 | 冀能投 25 （科创票据） | MTN001 | 债券代码 | 102581 ...

| 证券代码：000600 | 证券简称：建投能源 | 公告编号：2025-26 | | --- | --- | --- | | 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 关于公司 2025 年度第二期超短期融资券 发行完成的公告 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。 河北建投能源投资股份有限公司（以下简称"公司"）于 2024 年 9 月 18 日召开的第十届董事会第十三次临时会议以及 2024 年 10 月 14 日 召开的 2024 年第三次临时股东大会审议通过了《关于拟注册发行超短期 融资券的议案》。 2024 年 12 月 9 日，公司收到中国银行间市场交易商协会《接受注 册通知书》（中市协注〔2024〕SCP378 号）：中国银行间市场交易商协会 于 2024 年 12 月 3 日召开了 2024 年第 156 次注册会议，决定接受公司超 短期融资券注册，注册金额为 15 亿元，注册额度自通知书落款之日起 2 年内有效，在注册有效 ...

Group 1 - The supercritical power generation concept declined by 1.53%, ranking among the top declines in the concept sector, with companies like Guangxi Energy and Changyuan Power hitting the limit down [1][2] - Among the stocks in the supercritical power generation sector, 22 stocks saw price increases, with the top gainers being Guanlong Energy, Huayin Power, and Evergrande High-tech, which rose by 7.59%, 5.36%, and 4.24% respectively [1][2] Group 2 - The supercritical power generation sector experienced a net outflow of 1.123 billion yuan, with 48 stocks seeing net outflows, and five stocks having outflows exceeding 50 million yuan [2] - The stock with the highest net outflow was Huayin Power, which saw a net outflow of 387.43 million yuan, followed by Huadian Liaoning, Jidian Co., and Jiantou Energy with net outflows of 97.76 million yuan, 88.21 million yuan, and 82.41 million yuan respectively [2][3] Group 3 - The top stocks with net inflows in the supercritical power generation sector included Shanghai Electric, Jingneng Power, and Dalian Heavy Industry, with net inflows of 50.19 million yuan, 48.47 million yuan, and 33.65 million yuan respectively [2][3]