2025 年 12 月 14 日 ——公用事业行业周报（20251214） 要点 本周行情回顾：本周 SW 公用事业一级板块下跌 0.09%，在 31 个 SW 一级板 块中排名第 11；沪深 300 下跌 0.08%，上证综指下跌 0.34%，深证成指上涨 0.84%，创业板指上涨 2.74%。细分子板块中，火电上涨 0.22%，水电下跌 0.26%，光伏发电上涨 1.27%，风力发电上涨 0.11%，电能综合服务上涨 0.48%，燃气下跌 0.86%。本周公用事业涨幅前五的个股分别为嘉泽新能 （+9.71%）、银星能源（+8.58%）、中泰股份（+7.79%）、西昌电力（+5.38%）、 郴电国际（+4.14%）；周跌幅前五的个股分别为蓝天燃气（-15.21%）、德 龙汇能（-14.02%）、惠天热电（-12.62%）、华通热力（-11.33%）、联美 控股（-10.05%）。 本周数据更新：本周动力煤价格加速下跌。其中，秦皇岛港 5500 大卡动力煤 （中国北方，平仓价）周环比下跌 39 元/吨；防城港 5500 大卡动力煤（印度 尼西亚，场地价）本周周环比下跌 10 元/吨；广州港 5500 大卡动力 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 一家市值20亿元的上市供热公司，因财报中几处看似简单的数据录入错误，同时收到了来自证监局和证 券交易所的双重监管处罚。 沈阳惠天热电股份有限公司于2025年9月12日披露公告，公司及相关人员收到了中国证券监督管理委员 会辽宁监管局的警示函。 监管函指出，公司披露的《2025年半年度报告》等文件存在部分内容制作、录入错误等信息披露不规范 问题。公司董事长兼总经理郑运、副总经理兼财务总监杨辉、董事会秘书李志对此负责。 01 监管处罚 2025年9月12日，惠天热电接连遭遇监管问责。辽宁证监局对公司及三位高管采取出具警示函的监督管 理措施，并记入证券期货市场诚信档案。 同日，深圳证券交易所也向该公司及相关责任人发出监管函，明确指出公司行为违反了《股票上市规 则》的相关规定。 辽宁证监局认定，惠天热电披露的《2025年半年度报告》《2025年半年度财务报告》《半年报财务报 表》存在部分内容制作、录入错误等信息披露不规范问题。 这一系列监管措施直接源于公司此前披露的财务报告问题。根据公司公告，这些错误被认定为"信息披 露不规范"。 02 错误详情 惠天热电的财务问题主要 ...

New Stock Issuance - New stocks issued include 纳百川 (code: 301667) at an issuance price of 22.63 and 优迅股份 (code: 787807) at 51.66[1] Rights Issues and Announcements - 荃银高科 (code: 300087) has a tender offer period from December 4, 2025, to January 5, 2026[1] - 天普股份 (code: 605255) has a tender offer period from November 20, 2025, to December 19, 2025[1] Delisting and Special Notices - *ST广道 (code: 920680) will enter the delisting arrangement period starting December 11, 2025[1] - *ST苏吴 (code: 600200) will enter the delisting arrangement period starting December 9, 2025[1] Stock Performance Alerts - 赛微电子 (code: 300456) reported severe abnormal fluctuations[1] - 海王生物 (code: 000078) and 瑞达期货 (code: 002961) also reported significant fluctuations[1] Additional Stock Announcements - 航天发展 (code: 000547) and 顺灏股份 (code: 002565) have issued announcements regarding their stock performance[1]

Market Overview - As of December 5, the Shanghai Composite Index closed at 3902.81 points, up 27.01 points, with a gain of 0.70% [1] - The Shenzhen Component Index closed at 13147.68 points, up 140.96 points, with a gain of 1.08% [1] - The ChiNext Index closed at 3109.30 points, up 41.81 points, with a gain of 1.36% [1] Stock Performance - A total of 82 A-shares had a turnover rate exceeding 20% on this day, with N-Moore-U reaching a turnover rate of over 50% [1] - N-Moore-U (688795) had a closing price of 600.50 CNY, with a turnover rate of 85.49% and a remarkable increase of 425.46% [1] - Other notable stocks with high turnover rates include: - Chuling Information (300250) with a turnover rate of 46.01% and a decline of 7.22% [1] - Sichuan Jinding (600678) with a turnover rate of 44.89% and a slight decline of 0.74% [1] - C China Uranium (001280) with a turnover rate of 44.11% and a decrease of 5.18% [1] - Jinfu Technology (003018) with a turnover rate of 43.71% and a marginal increase of 0.10% [1] Additional Notable Stocks - Weston (301315) closed at 66.30 CNY with a turnover rate of 43.08% and an increase of 5.20% [1] - Haixin Food (002702) closed at 9.55 CNY with a turnover rate of 42.20% and a gain of 10.02% [1] - Tongyu Communication (002792) closed at 29.47 CNY with a turnover rate of 41.60% and an increase of 4.73% [1] - Other stocks with significant turnover rates include: - Huawu Co., Ltd. (300095) with a turnover rate of 39.34% and a decline of 2.40% [1] - Zhongneng Electric (300062) with a turnover rate of 38.89% and an increase of 12.76% [1] - Xiaocheng Technology (300139) with a turnover rate of 38.76% and a gain of 14.62% [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000692 证券简称：惠天热电 公告编号：2025-94 4.公司及公司控股股东（无实际控制人）不存在关于公司的应披露而未披露或处于筹划阶段的重大事 项； 5.公司控股股东在公司股票交易异常波动期间未买卖惠天热电股票； 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、股票交易异常波动的情况介绍 沈阳惠天热电股份有限公司（以下简称"公司"或"惠天热电"）（证券简称：惠天热电，证券代码： 000692）股票交易价格连续两个交易日（2025年12月3日和4日）收盘价格涨幅偏离值累计达到20%以 上，根据深圳证券交易所的有关规定，属于股票交易异常波动情况。 二、公司关注、核实情况 针对公司股票交易异常波动情况，公司对有关事项进行了核查，现将有关情况说明如下： 1.公司前期披露的信息不存在需要更正、补充之处； 2.公司近期未发现公共媒体报道了可能或已经对公司股票交易价格产生较大影响的未公开重大信息； 3.近期公司经营情况及内外部经营环境未发生重大变化； 沈阳惠天热电股份有限公司股票交易异常波动公告 6.公 ...

证券日报网讯 12月4日晚间，惠天热电发布公告称，股票交易价格连续两个交易日（2025年12月3日和 2025年12月4日）收盘价格涨幅偏离值累计达到20%以上，根据深圳证券交易所的有关规定，属于股票 交易异常波动情况。 （文章来源：证券日报） ...

证券代码：000692 证券简称：惠天热电 公告编号：2025-94 沈阳惠天热电股份有限公司 股票交易异常波动公告 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、股票交易异常波动的情况介绍 沈阳惠天热电股份有限公司（以下简称"公司"或"惠天热电"）（证券简称：惠 天热电，证券代码：000692）股票交易价格连续两个交易日（2025 年 12 月 3 日和 4 日） 收盘价格涨幅偏离值累计达到 20%以上，根据深圳证券交易所的有关规定，属于股票交 易异常波动情况。 二、公司关注、核实情况 针对公司股票交易异常波动情况，公司对有关事项进行了核查，现将有关情况说明 如下： 1.公司前期披露的信息不存在需要更正、补充之处； 2.公司近期未发现公共媒体报道了可能或已经对公司股票交易价格产生较大影响 的未公开重大信息； 3.近期公司经营情况及内外部经营环境未发生重大变化； 4.公司及公司控股股东（无实际控制人）不存在关于公司的应披露而未披露或处于 筹划阶段的重大事项； 5.公司控股股东在公司股票交易异常波动期间未买卖惠天热电股票； 6.公司不存在违反信息公平披露规 ...

| 证券代码 | 证券简称 | 日涨跌(%) | 每笔成交(股) | 环比(%) | | --- | --- | --- | --- | --- | | 001211 | 双枪科技 | 9.99 | 1411 | 390.83 | | 001336 | 楚环科技 | 9.99 | 1207 | 389.04 | | 000692 | 惠天热电 | 10.11 | 7891 | 352.37 | | 002566 | 益盛药业 | 9.96 | 2148 | 328.76 | | 002353 | 杰瑞股份 | 10.00 | 1258 | 291.31 | | 002631 | 德尔未来 | 10.02 | 2914 | 249.70 | | 600281 | 华阳新材 | 10.07 | 2388 | 174.90 | | 603065 | 宿迁联盛 | 6.21 | 1453 | 146.66 | | 002515 | 金字火腿 | 10.02 | 4115 | 145.18 | | 600255 | 鑫科材料 | 10.03 | 4659 | 116.02 | （文章来源：证券时报网） 12月3日成交笔 ...

Market Overview - The market experienced fluctuations with the ChiNext Index dropping over 1% and a total transaction volume of 1.68 trillion [1] - The superhard materials sector showed resilience, with Huanghe Xuanfeng hitting the daily limit and Sifangda rising over 10% [1] - The coal sector saw collective gains, with companies like Dayou Energy and Antai Group reaching the daily limit [1] - The flu prevention concept was active, with Yisheng Pharmaceutical hitting the daily limit and Yue Wannianqing rising over 10% [1] - Overall, more stocks declined than rose, with over 3,800 stocks in the Shanghai, Shenzhen, and Beijing markets in the red [1] Hot Topics Cultivated Diamonds - The cultivated diamond sector surged, with Huanghe Xuanfeng and Guoji Heavy Industry hitting the daily limit, and Sifangda increasing by 15% [4] - The demand for diamond as a heat dissipation material is expected to grow significantly due to advancements in semiconductor technology [5] - The diamond heat dissipation market is projected to expand from $0.37 million in 2025 to $15.2 billion by 2030, indicating explosive growth [6] Coal Sector - The coal sector performed well, with Antai Group achieving two consecutive daily limits and companies like Huitian Thermal Power and New Dazhou A also hitting the daily limit [7] - A cold wave affecting central and eastern China has led to significant temperature drops, boosting energy procurement demand [7] - Analysts expect coal prices to maintain upward momentum due to stricter safety regulations and increased demand during the winter heating season [8] Pharmaceutical Sector - The pharmaceutical sector was active again, with Haiwang Biological achieving six consecutive daily limits and companies like Ruikang Pharmaceutical and Yisheng Pharmaceutical hitting the daily limit [9] - The high transmissibility of the flu virus has created a surge in demand for antiviral medications and related products [10] - Retail pharmacies are expected to benefit from increased demand for protective products such as masks and disinfectants [10]

Core Viewpoint - The electricity sector has shown strong performance recently, driven by dual attributes of dividends and computing power, with a notable surge in stock prices due to new policies and market dynamics [2][6]. Group 1: Market Performance - The electricity sector experienced a significant rally, with stocks like Huitian Thermal Power and Minzhong Energy hitting their daily limit up [2][3]. - The overall market was weak, but Huitian Thermal Power stood out as the strongest performer, closing at its limit up price [3]. Group 2: Policy and Regulatory Changes - The release of the 136 document by the National Development and Reform Commission and the National Energy Administration marks a shift towards market-oriented pricing for renewable energy, impacting the electricity trading landscape [6]. - Various provinces are implementing policies for excess profit sharing among electricity retailers, indicating a trend towards stabilizing electricity prices and reducing risks for electricity companies [7]. Group 3: Industry Dynamics - The electricity generation volume in October increased by 7.9% year-on-year, with thermal power outperforming other energy sources [5]. - The coal price at the Jing Tang Port has decreased to 823 yuan per ton, reflecting a 1.0% week-on-week decline, which may improve profitability for thermal power [5]. - The integration of electricity and energy storage is expected to drive up valuations in the sector, with strategic partnerships being formed to enhance market opportunities [5]. Group 4: Future Outlook - The electricity sector is anticipated to benefit from improved demand in the winter and better long-term pricing expectations, with signs of recovery in industry profitability [7]. - The policies supporting large-scale development and high-quality consumption of renewable energy are expected to stabilize price expectations in the electricity market [7].