Core Viewpoint - Hubei Energy (000883.SZ) reported a significant increase in power generation for October 2025, with a total of 35.34 billion kWh, marking a year-on-year increase of 19.27% [1] Summary by Category Power Generation Performance - In October 2025, the company's power generation reached 35.34 billion kWh, which is a 19.27% increase compared to the same month last year [1] - Hydropower generation saw a remarkable increase of 803.77% year-on-year, while thermal power generation decreased by 47.49% [1] - New energy generation experienced a decline of 18.67% year-on-year [1] Year-to-Date Performance - For the year-to-date, the total power generation amounted to 364.88 billion kWh, reflecting a slight decrease of 0.79% compared to the previous year [1] - Hydropower generation decreased by 3.50% year-on-year, and thermal power generation decreased by 7.40% [1] - Conversely, new energy generation increased by 29.54% year-on-year [1]

Core Viewpoint - Hubei Energy reported a significant increase in electricity generation for October, with a total of 35.34 billion kilowatt-hours, marking a year-on-year increase of 19.27% [1] Summary by Category Electricity Generation Performance - In October, the company achieved an electricity generation of 35.34 billion kilowatt-hours, which is a 19.27% increase compared to the same month last year [1] - Hydropower generation saw a remarkable increase of 803.77% year-on-year, while thermal power generation decreased by 47.49% [1] - New energy generation experienced a decline of 18.67% year-on-year [1] Year-to-Date Performance - For the year-to-date, the total electricity generation reached 364.88 billion kilowatt-hours, reflecting a slight decrease of 0.79% compared to the previous year [1] - Hydropower generation year-to-date decreased by 3.50%, and thermal power generation decreased by 7.40% [1] - Conversely, new energy generation increased by 29.54% year-on-year [1]

证券代码：000883 证券简称：湖北能源 公告编号：2025-069 湖北能源集团股份有限公司 关于 2025 年 10 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10月发电量情况公告如下： 2025年10月，公司完成发电量35.34亿千瓦时，同比增加19.27%。 其中水电发电量同比增加803.77%，火电发电量同比减少47.49%，新 能源发电量同比减少18.67%。 公司本年累计完成发电量364.88亿千瓦时，同比减少0.79%。其中 水电发电量同比减少3.50%，火电发电量同比减少7.40%，新能源发电 量同比增加29.54%。 公司2025年10月发电情况表 注：上述数据小数位差异主要因四舍五入导致。 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 19.16 803.77% 98.43 -3.50% 火电 11.29 -47.49% 195.15 -7.40% 新能源 4.88 -18.67% ...

智通财经APP讯，湖北能源(000883.SZ)发布公告，2025年10月，公司完成发电量35.34亿千瓦时，同比 增加19.27%。其中水电发电量同比增加803.77%，火电发电量同比减少47.49%，新能源发电量同比减少 18.67%。公司本年累计完成发电量364.88亿千瓦时，同比减少0.79%。其中水电发电量同比减少3.50%， 火电发电量同比减少7.40%，新能源发电量同比增加29.54%。 ...

证券代码：000883 证券简称：湖北能源 公告编号：2025-070 湖北能源集团股份有限公司 关于举办 2025 年第三季度业绩说明会的公告 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。 重要内容提示： 1.会议召开时间：2025 年 11 月 7 日（星期五）下午 15:00-16:00 2.会议召开方式：采用网络远程的方式召开 3.网络会议地址：小鱼易连（会议号9035931360，密码903360， 具体路径详见附件小鱼易连使用说明） 4.投资者可于2025年11月6日前通过公司邮箱（hbnyzq@hbny.co m.cn）进行提问。公司将在业绩说明会上对投资者普遍关注的问题进 行回答。 1 公司总会计师、董事会秘书、总法律顾问兼首席合规官王军涛先 生，独立董事代表，公司资产财务部、人力资源部、生产技术与营销 部、投资发展部、建设管理部、董事会办公室、电力交易运营中心等 相关部门负责人（如有特殊情况，公司可能对参会人员进行调整）。 三、 投资者参会方式 投资者请于 2025 年 11 月 7 日下午 15:00-16:00 登录小鱼易连 （会议号 ...

Investment Rating - The investment rating for the company is maintained as "Buy" [1] Core Insights - The company is expected to achieve significant profit growth in 2025, with a projected net profit of 2,303 million RMB, representing a year-on-year increase of 26.97% [7][10] - The company's valuation remains attractive, with a price-to-earnings (PE) ratio of 13.31 for 2025, indicating a low valuation compared to its growth potential [6][10] - The company has experienced a recovery in hydropower generation due to improved water conditions, with a year-on-year increase of 9.90% in Q3 2025 [8] - The company plans to invest 26.7 billion RMB in clean energy projects in Xiangyang during the 14th Five-Year Plan period, which is expected to contribute to future growth [9] Financial Performance Summary - For the first nine months of 2025, the company reported revenue of 135.21 billion RMB, a decrease of 12.24% year-on-year, while net profit was 23.36 billion RMB, down 5.07% year-on-year [7] - The company’s hydropower generation in Q3 2025 was 33.60 billion kWh, with a significant recovery from earlier in the year [8] - The company’s net profit forecast for 2025 has been adjusted upwards by 35.28% to 2,303 million RMB due to non-recurring gains from the disposal of an associate [10][13] Valuation Metrics - The company’s projected PE ratio for 2025 is 13.31, with a price-to-book (PB) ratio of 0.87, indicating a favorable valuation compared to peers [6][10] - The target market capitalization is set at 38.08 billion RMB, with a target price of 5.88 RMB per share [10][21]

Core Insights - Hubei Energy (000883.SZ) reported a total operating revenue of 13.521 billion yuan for Q3 2025, ranking 27th among disclosed peers, which is a decrease of 1.886 billion yuan or 12.24% year-on-year [1] - The net profit attributable to shareholders was 2.336 billion yuan, ranking 21st among peers, down by 125 million yuan or 5.07% compared to the same period last year [1] - The net cash inflow from operating activities was 5.106 billion yuan, ranking 24th among peers, a decrease of 804 million yuan or 13.61% year-on-year [1] Financial Ratios - The latest debt-to-asset ratio is 56.27%, ranking 49th among peers, which is a decrease of 2.74 percentage points from the previous quarter and 2.07 percentage points from the same period last year [3] - The latest gross profit margin is 26.10%, ranking 51st among peers, an increase of 2.33 percentage points from the previous quarter, but a decrease of 3.14 percentage points year-on-year [3] - The latest return on equity (ROE) is 6.71%, ranking 36th among peers, down by 0.47 percentage points from the same period last year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share is 0.36 yuan, ranking 31st among peers, a decrease of 0.02 yuan or 5.26% year-on-year [3] - The total asset turnover ratio is 0.14 times, ranking 64th among peers, a decrease of 0.02 times or 14.23% year-on-year [3] - The inventory turnover ratio is 11.27 times, ranking 58th among peers, a decrease of 4.33 times or 27.74% year-on-year [3] Shareholder Structure - The number of shareholders is 75,600, with the top ten shareholders holding 5.391 billion shares, accounting for 83.17% of the total share capital [3] - The largest shareholder is Hubei Hongtai Group Co., Ltd., holding 2.81 billion shares [3] - Other significant shareholders include China Yangtze Power Co., Ltd. and China Three Gorges Corporation, holding 2.641 billion and 1.57 billion shares respectively [3]

Core Viewpoint - Hubei Energy Group has demonstrated strong financial performance, ranking second in revenue and first in net profit within the industry, indicating robust operational capabilities and market positioning [2]. Group 1: Company Overview - Hubei Energy Group was established on March 9, 1993, and listed on the Shenzhen Stock Exchange on May 19, 1998, with its headquarters in Wuhan, Hubei Province [1]. - The company is a state-owned enterprise in Hubei, involved in the entire energy industry chain, including hydropower, thermal power, nuclear power, new energy generation, natural gas distribution, coal trading, and financial investments [1]. Group 2: Financial Performance - As of Q3 2025, Hubei Energy reported revenue of 13.521 billion yuan, ranking second among 15 companies in the industry, with the top competitor, Guangdong Construction, at 43.388 billion yuan [2]. - The company's net profit for the same period was 2.524 billion yuan, leading the industry, while the second-place competitor, Funiu Co., reported 2.419 billion yuan [2]. Group 3: Financial Ratios - Hubei Energy's debt-to-asset ratio stood at 56.27% in Q3 2025, lower than the previous year's 58.34% and below the industry average of 57.35% [3]. - The gross profit margin for the same period was 26.10%, which, although lower than the previous year's 29.24%, remains above the industry average of 22.95% [3]. Group 4: Management and Shareholder Information - The chairman, Zhang Long, has extensive experience in energy sector strategic management, while the general manager, Tu Shan Feng, saw a significant salary increase to 1.2134 million yuan in 2024, up from 373,700 yuan in 2023 [4]. - As of September 30, 2025, the number of A-share shareholders decreased by 5.09% to 75,600, while the average number of shares held per shareholder increased by 5.36% to 85,700 [5].

证券代码：000883 证券简称：湖北能源 公告编号：2025-067 湖北能源集团股份有限公司 第十届董事会第十一次会议决议公告 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。 2025 年 10 月 30 日，湖北能源集团股份有限公司（以下简称公 司）以现场结合网络视频方式在公司 3706 会议室召开了第十届董事 会第十一次会议。本次会议通知已于 2025 年 10 月 17 日通过电子邮 件或送达方式发出。本次会议应到董事 9 人，实到董事 9 人，其中张 龙董事、涂山峰董事、潘承亮董事、于良民董事、杨汉明董事现场参 加会议，韩勇董事、龚平董事、罗仁彩董事、陈海嵩董事以视频方式 参加会议。公司部分高级管理人员列席会议。 本次会议的召集、召开及表决程序符合《公司法》《深圳证券交 易所自律监管指引第 1 号——主板上市公司规范运作》等有关法律法 规、规范性文件及《公司章程》《董事会议事规则》的规定。本次会 议由公司董事长张龙先生主持，审议并通过以下议案： 一、审议通过了《湖北能源集团股份有限公司 2025 年第三季度 报告》 本议案经公司第十届董事会审计与风 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥5,028,070,388.57, a decrease of 9.99% compared to the same period last year[5]. - Net profit attributable to shareholders was ¥1,380,040,852.34, representing a significant increase of 33.26% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥752,058,495.61, down 27.70% from the previous year[5]. - The company's basic and diluted earnings per share were both ¥0.21, an increase of 31.25% year-on-year[5]. - Net profit for the current period is ¥2,524,166,119.01, down 10.3% from ¥2,814,797,591.34 in the previous period[30]. - Total comprehensive income for the period was approximately ¥2.21 billion, a decrease from ¥2.82 billion in the previous period, representing a decline of about 21.7%[31]. - Basic and diluted earnings per share were both ¥0.36, down from ¥0.38 in the previous period, reflecting a decrease of 5.3%[31]. Assets and Liabilities - The total assets at the end of the reporting period were ¥95,946,946,337.31, a decrease of 2.37% compared to the end of the previous year[5]. - The company's total assets decreased to ¥95,946,946,337.31 from ¥98,280,544,637.28, a decline of 2.4%[27]. - Total liabilities decreased to ¥53,988,247,514.24 from ¥57,622,323,221.41, a reduction of 6.4%[27]. - Long-term borrowings increased to ¥34,696,045,227.67 from ¥32,019,665,771.92, an increase of 8.4%[27]. - The company's total liabilities decreased by 53.31% in short-term borrowings, amounting to ¥4,373,994,993.31 due to repayment of maturing loans[8]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥5,106,404,237.11, down 13.61% compared to the previous year[5]. - Net cash flow from operating activities was approximately ¥5.11 billion, compared to ¥5.91 billion in the previous period, indicating a decrease of about 13.4%[32]. - The company's cash and cash equivalents decreased to ¥8,855,818,669.09 from ¥9,262,312,018.13, a decline of 4.4%[26]. - The ending balance of cash and cash equivalents was approximately ¥1.93 billion, a decrease from ¥2.42 billion in the previous period, reflecting a decline of about 20.5%[33]. - Net cash flow from financing activities significantly declined by 1122.93% to -¥3,547,559,189.07, attributed to an increase in loan repayments[9]. - The company reported a net cash outflow from investment activities of approximately -¥1.55 billion, an improvement from -¥5.29 billion in the previous period[33]. Investments and Expenditures - The company reported a significant increase in development expenditures, rising by 9834.55% to ¥12,388,574.64 due to increased R&D investments[8]. - The company's investment income increased by 728.72% to ¥1,682,507,177.15, primarily due to gains from the disposal of shares in Jiangsu Securities[9]. - Research and development expenses were reported at ¥7,006,259.80, indicating ongoing investment in innovation[29]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 75,639[11]. - Hubei Hongtai Group holds 28.12% of shares, making it the largest shareholder with 1,822,266,821 shares[11]. - The company plans to repurchase and cancel a total of 18,273,970 restricted shares due to the retirement of five incentive targets[13]. - Company executives purchased a total of 261,000 shares, representing 0.004% of the total share capital, for a total amount of 1.213 million CNY[21]. Government and Regulatory Actions - The company signed a framework cooperation agreement with the Xiangyang Municipal Government to invest 26.7 billion CNY in clean energy and related projects during the 14th Five-Year Plan period[24]. - The company completed the transfer of 529,609,894 shares of Changjiang Securities at a price of 8.20 CNY per share, with the transaction approved by the State-owned Assets Supervision and Administration Commission on May 13, 2024[15]. - The company plans to issue up to 585,858,585 shares to its controlling shareholder, China Three Gorges Corporation, raising a total of up to 2.9 billion CNY for the construction of the Luotian Pingtan Pumped Storage Power Station project[18]. Other Income and Expenses - The company received government subsidies that decreased by 51.42%, impacting other income[9]. - The company reported a significant increase in non-operating income by 287.45% to ¥53,028,273.03, due to compensation received for underperforming power generation projects[9]. - The average electricity trading volume in the renewable energy market increased, but the average selling price decreased, affecting overall profitability[9].