Investment Rating - The report indicates a positive investment outlook for the shipping decarbonization sector, emphasizing the importance of biofuels, RNG, and green methanol as key areas for investment opportunities [3]. Core Insights - The shipping industry is entering a critical phase of decarbonization, driven by frequent policies from the IMO and the EU. The global shipping fuel consumption is approximately 300 million tons, corresponding to carbon emissions exceeding 1 billion tons, with the EU accounting for about 18% of this [3][8]. - The demand for low-carbon fuels is expected to outstrip supply in the short term, with significant compliance costs driving the need for zero or near-zero emissions fuels (ZNZ) [3][36]. - Biofuels are identified as a core measure for existing vessels, with a notable increase in biofuel bunkering at ports like Singapore [3][36]. - The report highlights the potential for biogas, particularly RNG, to significantly reduce emissions and improve energy security, with ambitious production targets set for 2030 in both China and the EU [3][36]. - Green methanol is projected to see rapid growth in demand, with a current estimate of 406 methanol vessels corresponding to a demand exceeding 800,000 tons [3][36]. Summary by Sections 1. Decarbonization Policies - The report outlines the increasing frequency of decarbonization policies from the IMO and the EU, marking a significant acceleration in the implementation of these measures [3][11][18]. 2. Low-Carbon Fuel Demand - There is a broad demand space for low-carbon fuels, with a short-term supply shortage anticipated. The report notes that the compliance costs associated with EU regulations are higher than those of the IMO, which will further stimulate demand for low-carbon fuels [3][36]. 3. Biofuels - Biofuels are highlighted as a critical decarbonization measure for existing vessels, with a significant increase in biofuel bunkering observed at ports like Singapore. The global production of biodiesel is approximately 52 million tons, with expectations for increased usage in shipping as electric vehicles proliferate [3][36]. 4. Biogas - The report emphasizes the growing demand for LNG vessels and the potential for RNG to drive significant growth in the sector, supported by a green premium that could lead to an industry explosion [3][36]. 5. Green Methanol - The report notes a rapid increase in methanol vessels, with a projected demand of over 800,000 tons. However, the global production capacity for green methanol is expected to be only 1.24 million tons by the end of 2025, indicating a supply-demand imbalance [3][36]. 6. Investment Recommendations - The report suggests focusing on companies involved in biofuels, RNG, and green methanol production, including notable firms such as卓越新能, 山高环能, 维尔利, and 中国天楹, among others [3][36].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000875 证券简称：吉电股份 公告编号：2025-082 吉林电力股份有限公司 关于2025年度第二期超短期融资券发行情况的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 根据中国银行间市场交易商协会核发的《接受注册通知书》（中市协注〔2025〕SCP196号），中国银 行间市场交易商协会接受吉林电力股份有限公司（以下简称"公司"）发行超短期融资券，注册金额为人 民币40亿元，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。具体内容详见公 司2025年7月31日刊载于巨潮资讯网（www.cninfo.com.cn）、《中国证券报》《上海证券报》及《证券 时报》的《关于公司超短期融资券获得注册的公告》（2025-053）。 公司于2025年10月20日完成了"吉林电力股份有限公司2025年度第二期超短期融资券"（以下简称"本期 超短期融资券"）的发行。本期超短期融资券的发行额为10亿元人民币，期限为248天，票面利率为 1.76%。2025年10月21日，本期超短期融资券所募集 ...

债券代码：148096.SZ 债券简称：22吉电G2 吉林电力股份有限公司2022年面向专业投资者公开发行绿 色乡村振兴公司债券（专项用于碳中和）（第二期） 2025年本息兑付暨摘牌公告 本公司及全体董事、高级管理人员保证公告内容的真实、准确和完整，不存 在虚假记载、误导性陈述或者重大遗漏。 特别提示： 吉林电力股份有限公司 2022 年面向专业投资者公开发行绿色乡村振兴公司 债券（专项用于碳中和）（第二期）（以下简称"本期债券"）将于 2025 年 10 月 24 日支付 2024 年 10 月 24 日至 2025 年 10 月 23 日期间利息及本期债券本金。 为确保本息兑付工作的顺利进行，现将有关事宜公告如下： 一、本期债券基本情况 （一）债券名称：吉林电力股份有限公司 2022 年面向专业投资者公开发行 绿色乡村振兴公司债券（专项用于碳中和）（第二期） （六）债券面值：100 元 （七）信用级别：经东方金诚国际信用评估有限公司评估，发行人主体信用 等级为 AAA，本期债券的信用等级为 AAA。 ⚫债权登记日及最后交易日：2025 年 10 月 23 日 ⚫本息兑付日：2024 年 10 月 24 日 ...

证券代码：000875 证券简称：吉电股份 公告编号：2025-082 吉林电力股份有限公司 关于 2025 年度第二期超短期融资券 发行情况的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 根据中国银行间市场交易商协会核发的《接受注册通知书》（中 市协注〔2025〕SCP196 号），中国银行间市场交易商协会接受吉林电 力股份有限公司（以下简称"公司"）发行超短期融资券，注册金额 为人民币 40 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。具体内容详见公司 2025 年 7 月 31 日刊载于 巨潮资讯网（www.cninfo.com.cn）、《中国证券报》《上海证券报》及 《证券时报》的《关于公司超短期融资券获得注册的公告》（2025-053）。 公司于 2025 年 10 月 20 日完成了"吉林电力股份有限公司 2025 年度第二期超短期融资券"（以下简称"本期超短期融资券"）的发行。 本期超短期融资券的发行额为 10 亿元人民币，期限为 248 天，票面 利率为 1.76%。2025 年 10 月 21 日，本期 ...

证券日报网讯吉电股份10月21日在互动平台回答投资者提问时表示，截至2025年10月20日，公司股东户 数146004户。 （文章来源：证券日报） ...

10月21日，吉电股份盘中上涨2.09%，截至14:04，报5.85元/股，成交2.43亿元，换手率1.26%，总市值 212.20亿元。 资金流向方面，主力资金净流入766.82万元，特大单买入1536.63万元，占比6.31%，卖出1751.11万元， 占比7.19%；大单买入6402.64万元，占比26.30%，卖出5421.35万元，占比22.27%。 截至10月10日，吉电股份股东户数14.74万，较上期减少3.59%；人均流通股22678股，较上期增加 3.72%。2025年1月-6月，吉电股份实现营业收入65.69亿元，同比减少4.63%；归母净利润7.26亿元，同 比减少33.72%。 分红方面，吉电股份A股上市后累计派现9.69亿元。近三年，累计派现7.64亿元。 机构持仓方面，截止2025年6月30日，吉电股份十大流通股东中，光伏ETF（515790）、香港中央结算 有限公司、南方中证1000ETF（512100）、天弘中证光伏A（011102）、广发中证全指电力ETF （159611）、华夏中证1000ETF（159845）退出十大流通股东之列。 责任编辑：小浪快报 吉电股份今年以来股价 ...

Core Points - Jilin Electric Power Co., Ltd. experienced a stock price decline of 2.05% on October 20, trading at 5.72 CNY per share with a market capitalization of 20.748 billion CNY [1] - The company has seen a year-to-date stock price increase of 9.49%, but a decline of 6.84% over the last five trading days [1] - The company's main business includes power generation (wind, solar, hydro, thermal, distributed energy, gas, biomass, nuclear), heating, comprehensive smart energy supply, clean energy investment, power plant maintenance, technology project research and development, and power distribution [1] Financial Performance - For the first half of 2025, Jilin Electric Power reported a revenue of 6.569 billion CNY, a year-on-year decrease of 4.63%, and a net profit attributable to shareholders of 726 million CNY, down 33.72% year-on-year [2] - The company has distributed a total of 969 million CNY in dividends since its A-share listing, with 764 million CNY distributed in the last three years [3] Shareholder Information - As of October 10, 2023, the number of shareholders for Jilin Electric Power was 147,400, a decrease of 3.59% from the previous period [2] - The average number of circulating shares per shareholder increased by 3.72% to 22,678 shares [2] - Notable changes in the top ten circulating shareholders include the exit of several ETFs and investment funds [3]

Investment Rating - The report maintains a "Buy" rating for the power sector, emphasizing the potential for upward performance in specific stocks [5][9]. Core Insights - The report highlights that Q3 performance for thermal power is improving, with coal prices rebounding, which enhances expectations for stable electricity prices. The average coal price at ports was 673 RMB/ton in Q3, down 180 RMB/ton year-on-year, but has recently increased to 739 RMB/ton [5][14]. - Hydropower is expected to benefit from improved autumn rainfall, with significant increases in inflow and outflow at the Three Gorges Dam, showing a 48.15% and 102.78% year-on-year increase respectively [5][14]. - Adjustments in tax policies for wind and nuclear power are noted, with offshore wind power receiving a 50% VAT refund policy from November 1, 2025, while onshore wind will no longer enjoy VAT refunds [3][4][14]. Summary by Sections Industry Overview - The Shanghai Composite Index fell by 1.47% and the CSI 300 Index decreased by 2.22% during the week of October 13-17, 2025. The CITIC Power and Utilities Index decreased by 0.43%, outperforming the CSI 300 by 1.79 percentage points [5][63]. Thermal Power - Q3 results for thermal power are on an upward trend, with a notable increase in expected profits for companies like Jiantou Energy, which anticipates a 232% increase in net profit [5][14]. - The report emphasizes the importance of coal price stability for maintaining electricity price expectations for 2026 [5][14]. Hydropower - The report notes significant improvements in hydropower due to favorable autumn rainfall, with a focus on the increased inflow and outflow at the Three Gorges Dam [5][14]. Wind and Nuclear Power - The report discusses the new tax policies affecting wind and nuclear power, highlighting the competitive advantage of offshore wind power due to the new VAT refund policy [3][4][14]. Key Stocks - The report recommends focusing on specific stocks within the thermal power sector, including Huaneng International, Huadian International, and others, as well as emphasizing the value of hydropower investments [5][9].

Core Viewpoint - Jilin Electric Power Co., Ltd. (吉电股份) has experienced a decline in stock price recently, with a notable drop of 2.14% on October 17, 2023, despite a year-to-date increase of 13.71% [1][2]. Group 1: Stock Performance - The stock price of Jilin Electric Power has increased by 13.71% year-to-date, but it has decreased by 5.11% in the last five trading days [2]. - The stock has shown a 1.19% increase over the last 20 days and a 14.01% increase over the last 60 days [2]. - As of October 17, 2023, the stock was trading at 5.94 CNY per share, with a total market capitalization of 21.546 billion CNY [1]. Group 2: Financial Performance - For the first half of 2025, Jilin Electric Power reported a revenue of 6.569 billion CNY, representing a year-on-year decrease of 4.63% [2]. - The net profit attributable to shareholders for the same period was 726 million CNY, down 33.72% year-on-year [2]. Group 3: Business Overview - Jilin Electric Power, established on November 20, 1997, and listed on September 26, 2002, operates in various sectors including power generation (wind, solar, hydro, thermal, distributed energy, gas, biomass, nuclear), heating, and comprehensive smart energy supply [2]. - The company's revenue composition includes coal power products (33.67%), photovoltaic products (29.55%), wind power products (23.40%), heating products (10.86%), and operations and maintenance (2.52%) [2]. - The company is categorized under the public utility sector, specifically in electric power and energy services, and is involved in concepts such as hydrogen energy, wind energy, offshore wind power, carbon neutrality, and photovoltaic glass [2]. Group 4: Shareholder Information - As of October 10, 2023, the number of shareholders for Jilin Electric Power was 147,400, a decrease of 3.59% from the previous period [2]. - The average number of circulating shares per shareholder increased by 3.72% to 22,678 shares [2]. - The company has distributed a total of 969 million CNY in dividends since its A-share listing, with 764 million CNY distributed over the last three years [3].

Group 1 - The A-share market showed strong performance, with the ChiNext Index rising over 2.00%, the Shanghai Composite Index increasing by 0.90%, and the Shenzhen Component Index up by 1.40% [1] - Sectors such as pharmaceuticals, robotics, electric power, and textiles led the gains, with nearly 3,900 stocks in the Shanghai, Shenzhen, and Beijing markets experiencing price increases [1] Group 2 - Notable stock performances included Shanghai Electric (code: 600021) with a rise of 9.99% and a total market capitalization of 68.4 billion, and Suihengda A (code: 000531) with a 9.94% increase and a market cap of 7.144 billion [2] - Other significant gainers included Shimao Energy (code: 605028) up by 7.44% with a market cap of 4.411 billion, and Jiantou Energy (code: 000600) which rose by 5.24% with a market cap of 16 billion [2] - Year-to-date performance showed Shanghai Electric with a 172.60% increase, while Jiantou Energy had a 58.93% rise [2]