Core Viewpoint - The company, Jidian Co., Ltd. (000875.SZ), emphasizes that its Lishu green methanol innovation demonstration project aligns with national efforts to promote renewable energy and hydrogen energy, presenting a significant opportunity for the industry [1] Group 1: Project Significance - The green methanol project is positioned as a direct substitute for traditional marine fuel, which is crucial for deep decarbonization in the maritime transport sector [1] - This initiative is seen as an important method to accelerate the achievement of the "dual carbon" goals set by the country [1] Group 2: National Energy Strategy - The project addresses national energy security issues and aligns with the direction of energy development in the country [1]

Investment Rating - The report maintains a "Strong Buy" rating for the industry, indicating an expectation that the overall industry performance will outperform the market in the next six months [65]. Core Insights - The public utility sector has shown a recovery in market performance, with the industry index rising by 1.2% during the week of September 1-7, outperforming the Shanghai Composite Index by 2.38 percentage points and the CSI 300 Index by 2.01 percentage points [2][11]. - The report highlights the introduction of the "136 Document" in Shaanxi and Zhejiang, which aims to enhance market mechanisms and pricing for renewable energy projects, potentially stabilizing industry profitability [3][35][37]. - The report suggests that the coal price stabilization and improved electricity pricing will enhance the profitability of thermal power companies in the short term, while long-term prospects remain positive due to market reforms [7]. Summary by Sections 1. Market Performance - The public utility industry index's PE (TTM) is currently at 18.06, up from 17.92 the previous week, and higher than 16.53 a year ago [2][23]. - The sector's PB is at 1.81, compared to 1.79 last week and 1.77 a year ago [2][26]. - The report ranks the public utility sector 6th among 31 sectors in terms of performance during the week [11]. 2. Individual Stock Performance - Top-performing stocks include Shanghai Electric (+35.66%), Jingyun Tong (+14.51%), and Luxiao Technology (+13.48%) [3][28]. - Conversely, stocks like Huayin Electric (-10.5%) and China General Nuclear Power (-4.43%) experienced declines [3][28]. 3. Industry Dynamics - The "136 Document" in Shaanxi sets a bidding range for incremental projects at 0.18 to 0.3545 yuan/kWh, while Zhejiang's document proposes a storage price of 0.4153 yuan/kWh [35][37]. - The report notes the release of the "Sichuan Electricity Market Settlement Rules," which will impact independent energy storage pricing [35][39]. 4. Key Data Tracking - As of September 5, 2025, the price of Shanxi mixed coal (5500) is 681 yuan/ton, reflecting a week-on-week decrease of 1.59% [6][45]. - The total transaction volume for green certificates in wind and solar power reached 12.4 and 16.4 million units, respectively, during the week [48]. 5. Investment Recommendations - The report recommends focusing on thermal power companies due to expected profit stability and potential dividend increases [7]. - For hydropower, it suggests monitoring stocks that have seen significant pullbacks, while for green energy, it anticipates a stabilization in expected returns following the "136 Document" implementation [7].

Core Insights - Multiple A-share renewable energy companies have recently announced receiving substantial renewable energy subsidy funds, totaling over 6 billion yuan in August alone, with cumulative subsidies for the year reaching 1.5 to 3.5 times last year's total [1][2] Group 1: Subsidy Amounts and Growth - In August, Jilin Electric Power Co., Ltd. received 9.13 billion yuan in renewable energy subsidies, with a total of 12.71 billion yuan for the first eight months of the year, reflecting a year-on-year increase of 154.2% [1] - Jiangsu Linyang Energy Co., Ltd. reported receiving 2.03 billion yuan in August, with a total of 3.06 billion yuan for the first eight months, marking a year-on-year growth of 210.10% [1] - China Energy Conservation Solar Co., Ltd. received 16.92 billion yuan in August, with a total of 23.19 billion yuan for the first eight months, showing a year-on-year increase of 232.23% [2] - Jinkai New Energy Co., Ltd. received 9.39 billion yuan in August, with a total of 12.14 billion yuan for the first eight months, indicating a year-on-year growth of 341.67% [2] Group 2: Impact on Companies - The influx of subsidy funds is expected to improve cash flow for renewable energy projects, enhancing operational stability for companies [2][3] - Despite the significant subsidy amounts, the impact on current profits is limited as these subsidies are recognized as revenue upon electricity sales [2] - The renewable energy sector is characterized by high asset-liability ratios and ongoing investment in technology and equipment, making the timely receipt of subsidy funds crucial for alleviating financial pressure [3]

证券日报网讯9月10日晚间，吉电股份（000875）发布公告称，选举杨玉峰为董事长。 ...

Group 1 - The core product of the Jilin Daan Wind and Solar Integrated Green Hydrogen Synthesis Ammonia Demonstration Project is green synthetic ammonia, which supports decarbonization in agriculture, industry, and energy sectors [2] - The project was mentioned in response to an investor inquiry regarding its production and sales status [2] - The company, Jidian Co., Ltd. (stock code: 000875.SZ), provided this information on September 10 through an investor interaction platform [2]

Group 1 - The company, Jidian Co., Ltd. (SZ 000875), announced the convening of its first board meeting of the tenth session on September 10, 2025, which will be held in a hybrid format of in-person and video conference [1] - For the first half of 2025, the revenue composition of Jidian Co., Ltd. was as follows: electricity products accounted for 86.62%, heating products for 10.86%, and operation and maintenance, smart energy, and others for 2.52% [1] - As of the time of reporting, Jidian Co., Ltd. had a market capitalization of 20.1 billion yuan [1]

证券代码：000875 证券简称：吉电股份 公告编号：2025-079 吉林电力股份有限公司 关于董事会完成换届选举暨聘任高级管理 人员、证券事务代表的公告 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。 吉林电力股份有限公司（以下简称"公司"）于 2025 年 9 月 9 日召开 2025 年第四次临时股东会，审议通过了《关于选举吉林电力 股份有限公司第十届董事会股东代表董事的议案》《关于选举吉林电 力股份有限公司第十届董事会独立董事的议案》，选举产生了公司第 十届董事会股东代表董事和独立董事。2025 年 9 月 3 日—5 日，公司 组织职工代表民主推选第十届董事会职工代表董事，与 2025 年第四 次临时股东会选举产生的股东代表董事和独立董事共同组成了公司 第十届董事会。 2025 年 9 月 10 日，公司召开了第十届董事会第一次会议，分别 审议通过了《关于选举公司第十届董事会董事长的议案》《关于选举 第十届董事会战略与投资委员会委员及主任委员的议案》《关于选举 第十届董事会审计委员会委员及主任委员的议案》《关于选举第十届 董事会提名委员会委员及主任 ...

二、董事会会议审议情况 证券代码：000875 证券简称：吉电股份 公告编号：2025-078 吉林电力股份有限公司 第十届董事会第一次会议决议公告 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。 一、董事会会议召开情况 1.吉林电力股份有限公司第十届董事会第一次会议通知于 2025 年 8 月 30 日以电子邮件、书面送达等方式发出。 2. 2025 年 9 月 10 日，公司第十届董事会第一次会议在公司三楼 会议室以现场与视频会议相结合的方式召开。 3.公司应参会董事 9 人，实参会董事 8 人。职工代表董事明旭东 先生因公无法出席本次会议，全权委托董事和鲁先生代为表决。 4.经过半数董事推举，公司董事杨玉峰先生主持本次会议。公司 部分高级管理人员列席了会议。 5.本次会议的召开符合《公司法》及公司《章程》的规定。 （一）关于选举公司第十届董事会董事长的议案 会议以 9 票赞同、0 票反对、0 票弃权，通过了《关于选举公司 第十届董事会董事长的议案》，选举杨玉峰先生为公司第十届董事会 董事长。 1 （二）关于选举第十届董事会战略与投资委员会委员及主任委员 ...

9月10日，吉电股份盘中下跌2.14%，截至10:29，报5.50元/股，成交2.36亿元，换手率1.27%，总市值 199.50亿元。 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。 资金流向方面，主力资金净流出1533.08万元，特大单买入1086.03万元，占比4.60%，卖出3248.69万 元，占比13.75%；大单买入6082.74万元，占比25.74%，卖出5453.16万元，占比23.08%。 责任编辑：小浪快报 吉电股份今年以来股价涨4.88%，近5个交易日涨3.77%，近20日涨5.16%，近60日涨9.47%。 吉电股份所属申万行业为：公用事业-电力-电能综合服务。所属概念板块包括：绿色电力、氢能源、新 能源、储能、碳中和等。 截至8月29日，吉电股份股东户数15.74万，较上期减少0.43%；人均流通股21231股，较上期增加 0.44%。202 ...

证券日报网讯 9月9日晚间，吉电股份发布公告称，2025年9月3日—5日，公司组织职工代表民主推选第 十届董事会职工代表董事，公司70名职工代表以无记名票决方式通过，选举明旭东先生为吉林电力股份 有限公司第十届董事会职工代表董事，任期三年，与公司第十届董事会任期一致。 （文章来源：证券日报） ...