广东韶能集团股份有限公司 | 序号 | 姓名 | 职务 | 序号 | 姓名 | 职务 | | --- | --- | --- | --- | --- | --- | | 31 | 杨 卉 | 其他核心人员 | 151 | 邵显敏 | 其他核心人员 | | 32 | 陆 颖 | 其他核心人员 | 152 | 刘 波 | 其他核心人员 | | 33 | 梁耀日 | 其他核心人员 | 153 | 黄年初 | 其他核心人员 | | 34 | 许文锋1 | 其他核心人员 | 154 | 朱 哲 | 其他核心人员 | | 35 | 邓南新 | 其他核心人员 | 155 | 程罗春 | 其他核心人员 | | 36 | 邓 佳 | 其他核心人员 | 156 | 贺时珍 | 其他核心人员 | | 37 | 吴淑芬 | 其他核心人员 | 157 | 杨寿高 | 其他核心人员 | | 38 | 莫树标 | 其他核心人员 | 158 | 苏 纹 | 其他核心人员 | | 39 | 陈小荣 | 其他核心人员 | 159 | 罗哲应 | 其他核心人员 | | 40 | 朱永光 | 其他核心人员 | 160 | 洪银伟 | 其他核心人员 ...

法律意见书 北京 天津 上海 深圳 广州 西安 沈阳 南京 杭州 海口 菏泽 成都 重庆 苏州 呼和浩特 长沙 厦门 郑州 香港 武汉 合肥 北京市康达（广州）律师事务所 关于广东韶能集团股份有限公司 广州市天河区珠江东路 32 号利通广场 2901 室 邮编/Zip Code:510623 电话/Tel:86-020-37392666 传真/Fax:86-020-37392826 电子邮箱/E-mail：guangzhou@kangdalawyers.com 康达（广州）法意字【2025】第 0181 号 二〇二五年七月 1 法律意见书 北京市康达（广州）律师事务所 调整 2025 年限制性股票激励计划激励对象名单的 法 律 意 见 书 关于广东韶能集团股份有限公司 调整 2025 年限制性股票激励计划激励对象名单的 法律意见书 康达（广州）法意字【2025】第 0181 号 致：广东韶能集团股份有限公司 北京市康达（广州）律师事务所接受广东韶能集团股份有限公司（以下简称"公司" 或"韶能股份"）的委托，担任公司2025年限制性股票激励计划（以下简称"本次激励计 划"或"本激励计划"）的法律顾问，指派王学琛 ...

广东韶能集团股份有限公司 董事会薪酬与考核委员会关于 2025 年限制性股票激励计划激励对象名单（调整 后）的核查意见 广东韶能集团股份有限公司（以下简称"公司"）董事会薪酬与考核委员会 依据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和 国证券法》（以下简称"《证券法》"）、《上市公司股权激励管理办法》（以 下简称"《管理办法》"）和《广东韶能集团股份有限公司章程》（以下简称"《公 司章程》"）等有关规定，对《广东韶能集团股份有限公司 2025 年限制性股票 激励计划（草案）》（以下简称"《激励计划（草案）》"）调整后的激励对象 名单进行了核查，并发表核查意见如下： 1、公司不存在《管理办法》等法律、法规规定的禁止实施股权激励计划的 情形，包括： （1）最近一个会计年度财务会计报告被注册会计师出具否定意见或者无法 表示意见的审计报告； （2）最近一个会计年度财务报告内部控制被注册会计师出具否定意见或无 法表示意见的审计报告； （3）上市后最近 36 个月内出现过未按法律法规、公司章程、公开承诺进行 利润分配的情形； （4）法律法规规定不得实行股权激励的； （5）中国证监会认定的其他情形。 ...

Core Viewpoint - The recent surge in stock prices for power and related sectors is driven by increased electricity demand due to extreme heat, alongside positive financial forecasts from key companies in the industry [10][11][16]. Group 1: Company Performance - Shaoneng Co., Ltd. (韶能股份) has seen its stock price reach a limit up at 6.12 CNY per share, marking a 10.07% increase [3][4]. - Huayin Electric Power (华银电力) also hit a limit up, trading at 6.70 CNY per share, with a 10.02% increase. The company anticipates a net profit of 180 million to 220 million CNY for the first half of 2025, significantly up from the previous year [7]. - The average stock price increase for 126 companies in the high-temperature concept sector since June has been 4.49%, outperforming the Shanghai Composite Index [14]. Group 2: Market Trends - The national electricity load reached a historical high of 1.465 billion kilowatts on July 4, 2023, reflecting a rise of approximately 200 million kilowatts since the end of June [10]. - The demand for air conditioning is expected to rise significantly due to the ongoing heatwave, with air conditioning load accounting for about 37% of the total load in the East China grid [10][16]. - The market for sunscreen products is expanding rapidly, with projections indicating that the market size for sunscreen apparel will exceed 80 billion CNY by 2024 [12]. Group 3: Future Outlook - The power sector is likely to experience a new round of market activity due to the anticipated tight supply and demand during the peak electricity usage months from June to September [16]. - The correlation between temperature increases and air conditioning sales suggests that extreme heat will likely boost sales in the cooling sector [16].

Group 1 - The company has announced a plan to issue A-shares to a specific investor, Jin Cai Investment, with a maximum of 101 million shares at a price of 3.96 yuan per share, raising up to 400 million yuan for working capital [1][2] - The company has introduced a restricted stock incentive plan, granting 16.208 million shares to 243 individuals, including senior management, with a grant price of 2.52 yuan per share, and performance targets for net profit growth from 2025 to 2027 set at no less than 30%, 64%, and 97% respectively [1][2] - The company has outlined a shareholder return plan for the next three years (2025-2027), committing to distribute at least 30% of the average annual distributable profit if certain conditions are met [1][2] Group 2 - Following the completion of the private placement, the actual controller of the company will become the Shaoguan State-owned Assets Supervision and Administration Commission, which will control 21.75% of the shares through Jin Cai Investment and Industrial Assets [2] - The company is positioned to benefit from the "computing power city" initiative in Shaoguan, which is expected to drive significant growth in electricity demand and renewable energy projects [3] - The company has set ambitious profit targets for 2025-2027, forecasting net profits of 1.16 billion, 1.36 billion, and 1.7 billion yuan, with year-on-year growth rates of 51.1%, 17.5%, and 25.1% respectively [3]

证券研究报告 公用事业 | 电力 非金融|公司点评报告 hyzqdatemark 2025 年 07 月 07 日 证券分析师 查浩 SAC：S1350524060004 zhahao@huayuanstock.com 刘晓宁 SAC：S1350523120003 liuxiaoning@huayuanstock.com 蔡思 SAC：S1350524070005 caisi@huayuanstock.com 市场表现： | 基本数据 | | | 2025 | 年 | 07 | 月 | | 07 | 日 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 收盘价（元） | | | | | | | 6.12 | | | | 一 年 内 高 最 低 | 最 | / | | | | 7.43/3.38 | | | | | （元） | | | | | | | | | | | 总市值（百万元） | | | | | | | 6,612.98 | | | | 流通市值（百万元） | | | | | | | 6,612.42 | | | | 总股 ...

Group 1 - As of July 7, the biomass power generation concept increased by 2.83%, ranking second among concept sectors, with 40 stocks rising, including Shaoneng Co., Huaguang Huaneng, and Shimao Energy hitting the daily limit [1] - Leading stocks in the biomass power generation sector included Shaoneng Co. with an increase of 10.07%, Shimao Energy at 10.01%, and Feima International at 1.34% [3] - The sector experienced a net outflow of 428 million yuan, with 15 stocks seeing net inflows, and Shaoneng Co. leading with a net inflow of 65.18 million yuan [2][3] Group 2 - The top three stocks by net inflow ratio were Shaoneng Co. at 66.58%, Shimao Energy at 38.91%, and Weili at 16.00% [3] - Stocks with significant declines included ST Xindong down by 2.69%, ST Huaxi down by 1.82%, and Wuhan Tianyuan down by 1.81% [1][4] - The biomass power generation sector's performance was contrasted with other sectors, such as the shipbuilding sector which rose by 5.23% [2]

Core Viewpoint - The pumped storage concept sector has shown a positive performance, with a 2.26% increase, ranking sixth among concept sectors, driven by significant gains in several stocks [1][2]. Group 1: Sector Performance - As of July 7, the pumped storage concept sector increased by 2.26%, with 62 stocks rising, including Shaoneng Co. and YN Holdings reaching their daily limit [1]. - Leading stocks in the sector included Baobian Electric, which rose by 8.68%, Ganneng Co. by 7.45%, and Jiuzhou Group by 7.31% [1][2]. - The sector experienced a net inflow of 139 million yuan from main funds, with 31 stocks receiving net inflows, and five stocks exceeding 50 million yuan in net inflow [2]. Group 2: Fund Flow Analysis - Baobian Electric led the net inflow with 127 million yuan, followed by Shaoneng Co. with 65 million yuan and YN Holdings with 64 million yuan [2][3]. - The net inflow ratios for leading stocks were 66.58% for Shaoneng Co., 13.92% for Jidian Co., and 13.57% for Tianfu Energy [3][4]. - The overall fund flow in the pumped storage concept sector indicates strong investor interest, particularly in stocks like Baobian Electric and Shaoneng Co. [2][3].

Market Overview - The A-share market experienced slight fluctuations, with the Shanghai Composite Index opening lower but turning positive in the afternoon, while small-cap growth stocks were relatively active [1] - The overall trading volume decreased to 1.23 trillion yuan, with more stocks rising than falling [1] Index Performance - Shanghai Composite Index: 3473.13, up 0.02% - Shenzhen Component Index: 10435.51, down 0.70% - ChiNext Index: 2130.19, down 1.21% - SSE 50 Index: 2731.53, down 0.33% - CSI 300 Index: 3965.17, down 0.43% - STAR 50 Index: 4978.29, down 0.66% - North Exchange 50 Index: 1401.92, down 0.93% [2] Sector Performance - Sectors with notable gains included power generation, real estate, and diversified finance, while sectors such as environmental monitoring, components, coal, and medical beauty saw declines [2] - Significant net inflows were observed in power equipment, public utilities, and computers, each exceeding 4 billion yuan, while sectors like electronics and pharmaceuticals experienced net outflows exceeding 2 billion yuan [2] Future Outlook - Huachuang Securities suggests maintaining patience in the short term while remaining optimistic in the medium to long term, as resource sectors related to central state-owned enterprises are currently undervalued and may see policy catalysts in the second half of the year [3] - Haitong Securities notes that recent trading sentiment has improved, leading to a "technical breakthrough" in the A-share market, although volatility may increase due to various external factors [3] Power Sector Highlights - The power sector showed strong performance, with the index reaching a new high for the year, driven by stocks like Huaguang Huaneng, which hit a 14-year high [3][5] - The energy sector, including storage, green power, and nuclear energy, saw significant gains, with multiple sub-sectors reaching historical highs [5] Weather Impact on Energy Demand - The Central Meteorological Observatory issued a yellow heat warning, with temperatures exceeding 35°C in several regions, leading to a rapid increase in electricity demand [7][8] - National Energy Administration reported a record peak electricity load of 1.465 billion kilowatts, an increase of approximately 200 million kilowatts since late June, with air conditioning usage accounting for about 90% of the load increase [8] - Guosheng Securities recommends focusing on the power sector, particularly thermal power and green energy operators with cost-reduction advantages [8]

一、行情回顾 二、当日热点 1.电力 电力板块今日继续大涨，华银电力5天4板，长城电工、华光环能等多股涨停。 沪指全天窄幅震荡，创业板指跌超1%。电力股逆势爆发，韶能股份、华银电力、世茂能源等10余股涨停。跨境支付、稳定币概念反复活跃，中亦科技、京 北方、信雅达等多股涨停。地产股盘中拉升，渝开发、沙河股份、南山控股等涨停。下跌方面，创新药概念冲高回落，科兴制药跌超14%。个股涨多跌少， 沪深京三市超3200股飘红，今日成交1.22万亿，较上个交易日缩量近2200亿。 催化上，据国家气候中心预测，受全球气候变暖和厄尔尼诺现象双重影响，今年高温天气将呈现强度大、时间长的特征，华北地区最高气温可能突破42℃， 预计高温持续30天以上。 统计数据显示，7月4日，全国最大电力负荷达到14.65亿千瓦，比6月底上升约2亿千瓦，比去年同期增长接近1.5亿千瓦，创历史新高。其中，华东电网负荷 达4.22亿千瓦，空调负荷占比约37%。入夏以来，江苏、山东、河南、安徽、湖北等省级电网负荷9次创新高。 电力体制改革 +3.78% ■ 全国多地高温来袭, 迎峰度夏全国电力负荷创新高 | 股票名称 | | 最新价 = | 涨跌幅 = ...