Core Viewpoint - Jin控电力 announced on November 6 that there are no plans for additional share issuance or convertible bond issuance in 2025 [2] Group 1 - The company confirmed during a Q&A session with researchers that it will not pursue any capital increase or convertible bond issuance in 2025 [2]

Group 1: Company Performance and Strategy - The company has shifted focus from coal-electric integration asset restructuring plans, which has led to a long-term low stock price, raising concerns about management's commitment to value creation [2] - In 2025, the company invested CNY 210 million in technological upgrades for thermal power units, resulting in a decrease in coal consumption per kilowatt-hour compared to the same period in 2024 [3] - The company aims to enhance profitability and sustainability by optimizing existing assets and developing new projects in line with industry trends [4] Group 2: Revenue and Market Dynamics - The main growth drivers for the company's performance this year include a year-on-year increase in electricity prices and a reduction in fuel costs [3] - In the first three quarters of 2025, the revenue from new energy projects (including wind, solar, and hydroelectric power) totaled CNY 1.35 billion, accounting for 12.07% of total revenue, an increase of approximately 0.43 percentage points compared to 2024 [3] - The company is adapting to market reforms and has implemented a marketing-led strategy to improve overall performance [3] Group 3: Regulatory and Environmental Factors - The company is monitoring the impact of new policies in Shanxi Province regarding electricity trading and is preparing for upcoming regulations [3] - Seasonal factors, such as extreme winter weather, may affect operational profits due to increased maintenance costs and fluctuating coal prices [4] - The company is actively engaging with government and grid companies to enhance electricity export capabilities, especially given the competitive landscape in the energy sector [4]

Group 1 - The stock price of Jinko Power increased by 2.00% on November 5, reaching 3.06 CNY per share, with a trading volume of 85.65 million CNY and a market capitalization of 9.415 billion CNY [1] - Year-to-date, Jinko Power's stock price has risen by 20.95%, with a 4.08% increase over the last five trading days, 7.75% over the last twenty days, and 0.99% over the last sixty days [1] - The company primarily engages in thermal power generation and supply, with revenue composition as follows: thermal power 74.04%, coal-fired power 40.03%, heating 7.73%, photovoltaic power 6.07%, other businesses 5.52%, wind power 5.12%, maintenance services 1.60%, and hydropower 1.07% [1] Group 2 - As of September 30, Jinko Power reported a total revenue of 11.186 billion CNY for the first nine months of 2025, a decrease of 5.82% year-on-year, while net profit attributable to shareholders was 315 million CNY, an increase of 203.02% year-on-year [2] - The number of shareholders decreased by 11.99% to 112,700, while the average circulating shares per person increased by 13.63% to 25,845 shares [2] - Jinko Power has distributed a total of 1.496 billion CNY in dividends since its A-share listing, with no dividends distributed in the past three years [3]

Group 1 - The average spot price of electricity in Shanxi province was particularly high in October due to increased rainy weather, leading to lower output from wind and solar energy sources, combined with a rise in coal-fired power unit maintenance [2] - The supply-demand situation in the Shanxi electricity market was tight in October, resulting in high spot prices [2] - The operating conditions for thermal power companies are influenced by spot prices, as well as long-term positions and unit maintenance schedules [2]

证券代码：000767 证券简称：晋控电力 公告编号：2025 临─051 晋能控股山西电力股份有限公司 关于举办 2025 年第三季度报告 业绩说明会的公告 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。 重要内容提示： 会议召开时间：2025 年 11 月 05 日（星期三） 15:00-16:00 会议召开方式：网络互动方式 二、参加人员 董事长、党委书记、总经理：师李军 审计委员会主任委员：樊燕萍 总会计师：王晓华 董事会秘书：姚健 会议召开地点：价值在线（www.ir-online.cn） 会议问题征集：投资者可于 2025 年 11 月 05 日前 访问网址 https://eseb.cn/1sLdT4OFlp6 或使用微信扫描下方 小程序码进行会前提问，公司将通过本次业绩说明会，在信 息披露允许范围内就投资者普遍关注的问题进行回答。 晋能控股山西电力股份有限公司（以下简称"公司"） 于 2025 年 10 月 30 日在巨潮资讯网上披露了《2025 年第三 季度报告》。为便于广大投资者更加全面深入地了解公司经 营业绩、发展战略等情况，公司定于 20 ...

Core Insights - The electricity sector experienced a slight increase of 0.18% on the previous trading day, with Hengsheng Energy leading the gains [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Electricity Sector Performance - Hengsheng Energy (605580) closed at 34.74, up 4.17%, with a trading volume of 84,300 shares and a transaction value of 291 million yuan [1] - Huayin Power (600744) rose by 2.55% to close at 6.84, with a trading volume of 1,103,300 shares and a transaction value of 741 million yuan [1] - Jinkong Power (000767) increased by 2.38% to 3.01, with a trading volume of 1,051,600 shares and a transaction value of 318 million yuan [1] - The overall electricity sector saw a net outflow of 1.544 billion yuan from major funds, while retail investors contributed a net inflow of 1.596 billion yuan [2][3] Individual Stock Fund Flow - Changjiang Electric (600900) had a net inflow of 77.17 million yuan from major funds, while retail funds saw a net outflow of 34.99 million yuan [3] - Huadian New Energy (600930) experienced a net inflow of 74.41 million yuan from major funds, with retail funds showing a net outflow of 35.63 million yuan [3] - Three Gorges Energy (600905) recorded a net inflow of 65.05 million yuan from major funds, while retail funds had a net outflow of 31.93 million yuan [3]

（文章来源：第一财经） 晋控电力公告，第三季度营收为37.76亿元，同比下降0.02%；净利润为1.72亿元，同比增长146.12%。 前三季度营收为111.86亿元，同比下降5.82%；净利润为3.15亿元，同比增长203.02%。 ...

Core Viewpoint - Jin控电力 (000767.SZ) reported a decrease in operating revenue for the first three quarters of 2025, while net profit saw a significant increase compared to the previous year [1] Financial Performance - Operating revenue for the first three quarters reached 11.186 billion yuan, a year-on-year decrease of 5.82% [1] - Net profit attributable to shareholders was 315 million yuan, reflecting a year-on-year increase of 203.02% [1] - Net profit attributable to shareholders after deducting non-recurring gains and losses was 308 million yuan, showing a year-on-year increase of 191.86% [1] - Basic earnings per share stood at 0.0422 yuan [1]

Core Viewpoint - Jin控电力 reported a decline in operating revenue for the first three quarters of 2025, while net profit saw significant growth compared to the previous year [1] Financial Performance - The company achieved operating revenue of 11.186 billion yuan, representing a year-on-year decrease of 5.82% [1] - Net profit attributable to shareholders reached 315 million yuan, marking a year-on-year increase of 203.02% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 308 million yuan, reflecting a year-on-year growth of 191.86% [1]

证券代码：000767 证券简称：晋控电力 公告编号：2025 临─049 晋能控股山西电力股份有限公司 关于与晋能控股集团财务有限公司 签订《金融服务协议》的关联交易公告 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。 一、关联交易概述 1.为满足公司业务发展需要，公司拟与晋能控股集团财务有 限公司签订《金融服务协议》，由晋能控股集团财务有限公司向 公司及控股子公司提供一系列金融服务，包括存款服务业务、结 算服务业务、综合授信业务、其他经国家金融监督管理总局批准 的金融服务业务。 2.根据本交易，预计在《金融服务协议》有效期内，公司在 晋能控股集团财务有限公司的每日最高存款余额（含累计利息） 不高于人民币 30 亿元。晋能控股集团财务有限公司向公司提供的 综合授信每日最高余额（含累计利息）不高于人民币 30 亿元。存 款利率根据中国人民银行统一颁布的同期同类存款利率厘定，贷 款、票据承兑、票据贴现等信贷业务的信贷利率及费率，在中国 人民银行发布的贷款市场报价利率基础上，综合考虑期限、业务 类别、产业政策、风险溢价等因素厘定。 3.根据深圳证券交易所《股票上市规 ...