Market Overview - The electricity sector increased by 1.3% compared to the previous trading day, with Baitong Energy leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Top Gainers in the Electricity Sector - Baitong Energy (001376) closed at 19.76, up 10.02% with a trading volume of 250,700 shares and a transaction value of 478 million [1] - Zhongmin Energy (600163) closed at 6.09, up 9.93% with a trading volume of 687,900 shares [1] - Luxiao Technology (002617) closed at 9.28, up 7.16% with a trading volume of 3,681,900 shares [1] - Haoling Power (600452) closed at 10.68, up 4.71% with a trading volume of 673,100 shares [1] - Huayin Power (600744) closed at 6.94, up 4.68% with a trading volume of 2,474,800 shares [1] Top Losers in the Electricity Sector - Shiwang Energy (605028) closed at 31.46, down 9.99% with a trading volume of 3,450 shares [2] - Hengsheng Energy (605580) closed at 24.97, down 7.04% with a trading volume of 210,600 shares [2] - Tuo Ri New Energy (002218) closed at 4.90, down 4.85% with a trading volume of 2,516,900 shares [2] Capital Flow Analysis - The electricity sector saw a net inflow of 181 million from main funds, while retail funds experienced a net inflow of 475 million [2] - Main funds showed a significant net outflow from several companies, including China Nuclear Power (601985) with a net outflow of 32.02 million [3] - Zhongmin Energy (600163) also experienced a net outflow of 44.80 million from main funds [3]

银星能源（000862.SZ）1月14日在投资者互动平台表示，公司风电总装机容量161万千瓦时，累计已有 23.5万千瓦时完成了以大代小技术改造，目前正在推动贺兰山四五期、太阳山三四期等以大代小改造项 目的前期工作。完成全部老旧风机以大代小技术改造的时间受国家、行业及地方等政策影响尚存在不确 定性。后续公司将继续推动风电上大压小改造工作，并依托中铝集团资源，深化分布式项目开发、绿电 直连等一体化项目布局，以改善企业经营质量和盈利能力，提升公司价值。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问还有多少风电场没有完成以大代小？预计哪一年 可以完成全部风机的以大代小？目前公司股价一直低迷是否有提升公司市值的办法出台？ ...

证券代码：000862 证券简称：银星能源 公告编号：2026-001 宁夏银星能源股份有限公司关于 收购宁夏天净神州风力发电有限公司 50%股权的进展公告 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、本次交易概述 宁夏银星能源股份有限公司（以下简称公司）于 2025 年12月 18日召开的第十届董事会第一次临时会议审议通过 《关于收购宁夏天净神州风力发电有限公司 50%股权的议 案》，会议同意收购汉能阳光新能源控股（北京）有限公司 持有的宁夏天净神州风力发电有限公司（以下简称天净神州） 50%股权。收购完成后，天净神州将成为公司全资子公司， 并纳入合并报表范围。具体内容详见公司于 2025 年 12 月 19 日在《证券时报》《证券日报》《中国证券报》《上海证 券报》及巨潮资讯网（http://www.cninfo.com.cn）披露的《关 于现金收购宁夏天净神州风力发电有限公司 50%股权的公 告》。 二、本次交易进展情况 截至目前，公司已取得国有资产监督管理机构评估备案， 天 净 神 州 公 司 净 资 产 经 备 案 确 认 的 评 估 值 为 ...

Group 1 - The company held its first temporary board meeting of the tenth session on December 18, 2025, with all nine directors present, and the meeting was conducted via electronic voting [2][4]. - The board approved several proposals, including the performance assessment for 2024 and the annual salary payout for executives [3][5]. - The board also approved the adjustment of the company's organizational structure, resulting in nine functional departments [6][7]. Group 2 - The company approved the acquisition of a 50% stake in Ningxia Tianjing Shenzhou Wind Power Co., Ltd. for RMB 20.15275 million, with the final price subject to evaluation by the relevant state-owned asset authority [8][9]. - The acquisition was approved unanimously by the board, and it will not require shareholder approval [22][23]. - Following the acquisition, Tianjing Shenzhou will become a wholly-owned subsidiary of the company, and its financials will be consolidated into the company's reports [36][38]. Group 3 - The company plans to invest RMB 62.4 million in distributed photovoltaic projects in collaboration with three subsidiaries of its controlling shareholder, China Aluminum Corporation [42]. - The projects will have a capacity of 21.567 MWp, and the company will manage the design, investment, construction, operation, and maintenance of these projects [42][43]. - The expected internal rate of return for the projects is not less than 6.5%, and the energy savings will be shared over a period of 25 years [42][61].

Core Viewpoint - The company, Silver Star Energy, announced several key resolutions during its first extraordinary board meeting of the tenth session, including performance assessments for 2024 and the acquisition of a 50% stake in Ningxia Tianjing Shenzhou Wind Power Co., Ltd [1] Group 1 - The board approved the performance assessment and executive salary payout for 2024 [1] - The company plans to adjust its organizational structure [1] - The acquisition of a 50% stake in Ningxia Tianjing Shenzhou Wind Power Co., Ltd was also approved [1]

Group 1 - The core point of the article is that Silver Star Energy announced an investment of RMB 62.4 million to construct a distributed photovoltaic power generation project with a capacity of 21.567 MWp on rooftops and idle land owned by three subsidiaries of its actual controller, China Aluminum Corporation [2] Group 2 - The company will hold the first temporary meeting of the 10th board of directors on December 18, 2025, to review and approve the proposal for signing the "Contract Energy Management Agreement for Distributed Photovoltaic Project" with related parties [2] - The related parties involved in this transaction are subsidiaries of China Aluminum Corporation, which is the actual controller of the company, thus constituting a related party transaction [2]

Group 1 - Zhongwei Company plans to acquire controlling stake in Hangzhou Zhonggui through share issuance, with stock suspension starting December 19, 2025, for up to 10 trading days [1] - Qibin Group's subsidiary plans to establish Shenzhen Qibin New Energy Technology Co., with a registered capital of 600 million yuan to enhance photovoltaic glass supply chain efficiency [2] - Boying Special Welding's HRSG equipment is primarily matched with heavy gas turbines, with a production cycle of about 6 months, responding to increased demand in the U.S. market [3] Group 2 - Hongda Electronics' associate Jiangsu Zhanxin's application for IPO on the ChiNext has been accepted, with Hongda holding 13.79% of shares prior to the offering [5] - Yinxing Energy plans to acquire 50% stake in Tianjing Shenzhou for 20.15275 million yuan, which will enhance its renewable energy capacity [6] - Nandu Power's controlling shareholder has terminated plans for a change in control, leading to stock resumption on December 19, 2025 [7] Group 3 - Xibu Mining's subsidiary has obtained a mining license for iron resources, supporting sustainable development in the iron resource sector [9] - Shandong Expressway plans to provision for a long-term equity investment impairment of approximately 690 million yuan related to Dongxing Securities [10] - Tianfeng Securities has signed a supplementary agreement to extend the term of a 4 billion yuan subordinated debt by one year, with an adjusted interest rate of 4% [11] Group 4 - Shandong Zhanggu has received an administrative regulatory decision from the Shandong Securities Regulatory Commission for various compliance issues [12] - Nanjing Pharmaceutical plans to invest 120 million yuan to establish a medical device investment company, focusing on acquiring a stake in Ningbo Jiangfeng [13] - Hailianxun has received approval from the CSRC for a share swap merger with Hangzhou Steam Turbine, proceeding with related transactions [14] Group 5 - Luyuan Pharmaceutical reports normal operations with no significant changes in the internal and external business environment [15] - Nanhua Futures has set the H-share public offering price at 12 HKD per share, with expected listing on December 22, 2025 [17] - Visionox plans to invest 3.918 billion yuan in the second phase of the Hefei Guoxian AMOLED production line project, increasing its stake to 37.73% [18] Group 6 - Sichuan Road and Bridge has been acquired by Zhong Postal Insurance, reaching a 5% stake [19] - Boshuo Technology's directors plan to reduce their holdings by up to 18,300 shares [20] - O-film's controlling shareholder transferred 67.7048 million shares to settle debts, maintaining control with a 5.78% stake post-transfer [21] Group 7 - Junshi Biosciences' shareholder plans to reduce holdings by up to 2% through block trading [22] - Lihu Co. plans to reduce holdings by up to 2.98% through various trading methods [23] - Ruichen Environmental plans to reduce holdings by up to 3% through trading [25] Group 8 - Zhongfutong received a winning bid notification for a project worth approximately 411 million yuan [29] - Shikong Technology won a 141 million yuan project for smart cultural tourism integration [30] - Ningbo Construction's subsidiary won a 747 million yuan engineering project [31]

Core Viewpoint - The company aims to expand its renewable energy installed capacity and enhance profitability through the acquisition of a 50% stake in Tianjing Shenzhou from Hanergy Sunshine New Energy Holdings for RMB 20.15275 million, with the final price subject to evaluation by authorized state-owned units [1] Group 1 - The acquisition will result in Tianjing Shenzhou becoming a wholly-owned subsidiary of the company and will be included in the consolidated financial statements [1] - The funding for this cash acquisition will come from the company's own funds or bank loans [1]

Core Viewpoint - Yinxing Energy (000862.SZ) plans to invest RMB 62.4 million to develop a distributed photovoltaic power generation project with a capacity of 21.567 MWp on the rooftops and idle land of three subsidiaries under its actual controller, China Aluminum Group [1] Investment Details - The project will be financed with 40% equity and the remaining through bank loans [1] - The post-tax financial internal rate of return (IRR) for the project is expected to be no less than 6.5% [1] Project Management - Yinxing Energy will be responsible for the design, investment, construction, operation, and maintenance of the distributed photovoltaic project [1] - The subsidiaries will handle the consumption of the electricity generated by the project [1] Revenue Sharing - The energy-saving benefits generated from the project will be shared between Yinxing Energy and the subsidiaries, with Yinxing Energy receiving benefits based on a minimum post-tax IRR of 6.5% [1] - The sharing period for energy-saving benefits is set for 25 years, with monthly payments made to Yinxing Energy based on the agreed electricity price [1]

智通财经APP讯，银星能源(000862.SZ)公告，公司拟以2015.275万元现金收购汉能阳光新能源控股(北 京)有限公司持有的宁夏天净神州风力发电有限公司50%股权。该事项旨在进一步扩大新能源装机规 模，增强公司盈利能力。 ...