Core Viewpoint - Hubei Energy reported a decrease in power generation for the year 2025, with a total of 26.17 billion kilowatt-hours, reflecting a year-on-year decline of 17.94% [1] Group 1: Power Generation Breakdown - Hydropower generation increased by 153.21% year-on-year, contributing positively to the overall performance [1] - Thermal power generation saw a significant decline of 46.20% year-on-year, indicating challenges in this segment [1] - New energy generation experienced a slight decrease of 0.55% year-on-year, showing relative stability compared to other sources [1] Group 2: Cumulative Power Generation - The cumulative power generation for the year reached 391.04 billion kilowatt-hours, which is a decrease of 2.15% year-on-year [1] - Hydropower generation for the cumulative period increased by 1.38% year-on-year, demonstrating resilience in this area [1] - Thermal power generation decreased by 11.24% year-on-year, highlighting ongoing issues in this sector [1] - New energy generation saw a notable increase of 26.83% year-on-year, indicating growth potential in this segment [1]

格隆汇12月4日｜湖北能源公告，2025年11月，公司完成发电量26.17亿千瓦时，同比减少17.94%。其中 水电发电量同比增加153.21%，火电发电量同比减少46.20%，新能源发电量同比减少0.55%。公司本年 累计完成发电量391.04亿千瓦时，同比减少2.15%。其中水电发电量同比增加1.38%，火电发电量同比减 少11.24%，新能源发电量同比增加26.83%。 ...

湖北能源集团股份有限公司 关于 2025 年 11 月发电情况的自愿性信息披露公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 为便于投资者及时了解公司生产情况，现将湖北能源集团股份有 限公司（以下简称公司）2025年11月发电量情况公告如下： 证券代码：000883 证券简称：湖北能源 公告编号：2025-080 单位：亿千瓦时 | 项目 | 本月发电量 | 同比变动 | 本年累计发电量 | 同比变动 | | --- | --- | --- | --- | --- | | 水电 | 8.28 | 153.21% | 106.71 | 1.38% | | 火电 | 12.46 | -46.20% | 207.61 | -11.24% | | 新能源 | 5.43 | -0.55% | 76.72 | 26.83% | | 其中： 风电 | 1.45 | -22.87% | 18.16 | -11.24% | | 光伏发电 | 3.98 | 11.17% | 58.57 | 46.35% | | 合计 | 26.17 | -17.94% | 391.04 | ...

Core Viewpoint - In November 2025, A-share listed companies in China executed 9 private placements, a decrease of 36% year-on-year, while the actual fundraising amount reached approximately 34.461 billion yuan, an increase of 147% year-on-year [1][2]. Group 1: Fundraising Activities - A total of 9 private placements were completed in November 2025, with a total fundraising amount of approximately 34.461 billion yuan, marking a year-on-year increase of 147% but a month-on-month decrease of 8% [2][4]. - The top three companies by fundraising amount were: - Yuanda Environmental Protection raised 23.576 billion yuan by issuing 359,938.93 million shares at 6.55 yuan per share [4][5]. - Hushi Silicon Industry raised 6.716 billion yuan by issuing 44,740.55 million shares at 15.01 yuan per share [4][5]. - Hubei Energy raised 2.9 billion yuan by issuing shares at 4.85 yuan per share [4][5]. Group 2: Planned Fundraising - In November 2025, 29 private placement proposals were disclosed, with a planned fundraising amount of approximately 28.779 billion yuan, reflecting a year-on-year decrease of 34.53% [1][6]. - The companies with the largest planned fundraising amounts included: - Energy-saving Wind Power with a maximum of 3.6 billion yuan for green power projects [9][11]. - Shengxin Lithium Energy and Demingli, each planning to raise 3.2 billion yuan for various projects [9][11]. Group 3: Industry Distribution - The industrial sector led the fundraising activities with 3 completed placements totaling approximately 23.919 billion yuan [6][7]. - The consumer discretionary sector also had 3 placements, but with a significantly lower total of 6.07 million yuan [6][7]. - The information technology sector followed with 2 placements, raising a total of 7.036 billion yuan [6][7].

Core Insights - The report highlights the growth and challenges in China's hydropower industry, with a significant increase in hydropower generation in September 2025 compared to the previous year, indicating a year-on-year growth of 31.9% [1] - Cumulative hydropower generation from January to September 2025 shows a slight decline of 1.1% compared to the same period in the previous year, suggesting potential fluctuations in the market [1] Company Overview - Listed companies in the hydropower sector include: Changjiang Electric Power (600900), Huaneng Hydropower (600025), Guotou Power (600886), Chuan Investment Energy (600674), Guiguan Electric Power (600236), Qianyuan Electric Power (002039), Hubei Energy (000883), Mindong Electric Power (000993), Leshan Electric Power (600644), and Chenzhou International (600969) [1] Market Analysis - According to the National Bureau of Statistics, the hydropower generation in China reached 158.9 billion kilowatt-hours in September 2025, reflecting a robust performance in the sector [1] - The cumulative hydropower output for the first nine months of 2025 was 997.05 billion kilowatt-hours, indicating a need for further analysis on the factors contributing to the decline in cumulative output [1]

Core Insights - The article discusses the growth and performance of China's nuclear power generation industry, highlighting a production increase in 2025 [1] Industry Overview - As of September 2025, China's nuclear power generation reached 36.2 billion kilowatt-hours, marking a year-on-year growth of 1.6% [1] - Cumulatively, from January to September 2025, the total nuclear power generation was 358.08 billion kilowatt-hours, reflecting a 9.2% increase compared to the previous year [1] Companies Mentioned - Listed companies in the nuclear power sector include China General Nuclear Power (003816), China National Nuclear Power (601985), Sheneng Co., Ltd. (600642), Zhejiang Energy Power (600023), Hubei Energy (000883), Huaneng International (600011), Datang Power (601991), Jiangsu Guoxin (002608), China Nuclear Technology (000777), and Funiu Co., Ltd. (600483) [1] Related Reports - The article references a report by Zhiyan Consulting titled "Market Operation Pattern and Investment Strategy Analysis of China's Nuclear Power Generation Industry from 2025 to 2031" [1]

Group 1 - Hubei Energy held its 12th meeting of the 10th Board of Directors on November 26, 2025, to review the proposal for appointing the auditing institution for the year 2025 [1] - For the first half of 2025, Hubei Energy's revenue composition is as follows: thermal power generation accounts for 52.45%, hydropower generation for 20.25%, photovoltaic power generation for 12.1%, natural gas sales for 6.43%, and wind power generation for 4.69% [1] - As of the report date, Hubei Energy has a market capitalization of 32.6 billion yuan [1]

湖北能源集团股份有限公司 以自筹资金预先投入募集资金投资项目 及已支付发行费用的专项说明的鉴证报告 以自筹资金预先投入募集资金投资项目及已支付发行 费用的专项说明的鉴证报告 索引 页码 鉴证报告 - 附件:湖北能源集团股份有限公司关于以自筹资金预先投 入募集资金投资项目及已支付发行费用的专项说明 1-3 | 信永 中和会社师 寓 含 所 北京 市 东城 朝阳 北 大 街 联系电话: +86 (010) 6554 2288 | | | | --- | --- | --- | | telephone: +86 (010) 6554 2288 | 8 号富华大厦 A座 9 层 | | | 9/F, Block A, Fu Hua Mansion, | No.8, Chaoyangmen Beidajie, | | | ShineWing | Dongcheng District, Beijing, | 传真: +86 (010) 6554 7190 | | certified public accountants 100027, P.R.China | | facsimile: +86 (010) 6554 719 ...

中信证券股份有限公司 关于湖北能源集团股份有限公司使用募集资金置换预先投入募 投项目及已支付发行费用的自筹资金的核查意见 中信证券股份有限公司（以下简称"中信证券"、"保荐人"）作为湖北能 源集团股份有限公司（以下简称"湖北能源"、"公司"）2024 年度向特定对象 发行股票的保荐人，根据《证券发行上市保荐业务管理办法》《上市公司募集资 金监管规则》《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律 监管指引第 1 号——主板上市公司规范运作》等有关法律、法规和规范性文件的 要求，对湖北能源使用募集资金置换预先投入募投项目及已支付发行费用的自筹 资金事项进行了核查，具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意湖北能源集团股份有限公司向特定对 象发行股票注册的批复》（证监许可[2025]1971号）同意，湖北能源向特定对象 发行人民币普通股 597,938,144股，发行价格为4.85元/股，募集资金总额为人民 币2,899,999,998.40元，扣除相关发行费用人民币5,299,041.15元（不含税）后，实 际募集资金净额为人民币2,894,700,957.25元。 募 ...

中信证券股份有限公司 关于湖北能源集团股份有限公司 使用部分暂时闲置募集资金进行现金管理的核查意见 中信证券股份有限公司（以下简称"中信证券"、"保荐人"）作为湖北能 源集团股份有限公司（以下简称"湖北能源"、"公司"）2024 年度向特定对象 发行股票的保荐人，根据《证券发行上市保荐业务管理办法》《上市公司募集资 金监管规则》《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律 监管指引第 1 号——主板上市公司规范运作》等有关法律、法规和规范性文件的 要求，对湖北能源使用部分暂时闲置募集资金进行现金管理事项进行了核查，具 体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）《关于同意湖北能 源集团股份有限公司向特定对象发行股票注册的批复》（证监许可[2025]1971号） 同意，湖北能源向特定对象发行人民币普通股597,938,144股，发行价格为4.85元 /股，募集资金总额为人民币2,899,999,998.40元，扣除相关发行费用人民币 5,299,041.15元（不含税）后，实际募集资金净额为人民币2,894,700,957.25元。 募集资金已于2025年 ...