证券代码：000966 证券简称：长源电力 公告编号：2026-002 2025 年 12 月，公司完成发电量 23.80 亿千瓦时，同比降低 40.54%。其中火电 发电量同比降低 43.39%，水电发电量同比增长 25.79%，新能源发电量同比降低 4.22%。 公司 2025 年 1-12 月累计完成发电量 344.40 亿千瓦时，同比降低 14.12%。其中 火电累计发电量同比降低 16.60%，水电累计发电量同比增长 19.18%，新能源累计 发电量同比增长 0.77%。具体数据情况见下表： 公司 2025 年 12 月发电量完成情况表 上述发电量数据系公司初步统计结果，公司发电量数据在月度之间可能存在较 大差异，其影响因素包括但不限于天气变化、来水情况、季节因素、装机容量变动、 设备检修等。数据可能与定期报告披露的数据有差异，提醒投资者不宜以此数据简 单推算公司经营业绩，谨慎决策，注意投资风险。 特此公告。 单位：亿千瓦时 项目 当月发电量 同比变动 本年累计发电量 同比变动 一、火电 21.19 -43.39% 299.00 -16.60% 二、水电 0.53 25.79% 16.61 19.1 ...

该项目采用新一代高效超超临界二次再热技术，主要技术指标先进可靠。汉川四期项目7号机组成功转 商业运营，将进一步增加公司大容量高参数煤电装机比重，增强公司煤电机组市场竞争力。 此外，项目配套储能电站与项目同址建设，共用送出线路，具有一定的上网电量调节优势，市场竞争力 和抗风险能力较强。 长源电力认为，该项目的建设有利于提高公司清洁能源比重，优化公司电源结构，投产后可增加公司营 业收入和利润。 在2025年半年报中，长源电力曾透露，公司积极应对电力改革新形势，坚持市场导向，优先发展风电， 择优开发光伏，持续加快绿色低碳转型。报告期内取得50万千瓦风电资源开发权，获配新能源建设指标 15万千瓦，其中风电7万千瓦、光伏8万千瓦。报告期内，公司新能源项目新开工2.0955万千瓦，投产 19.6955万千瓦。预计2025年全年，公司新能源项目发展计划为新开工20万千瓦、投产30万千瓦。 2025年12月17日，长源电力公告称，全资子公司国能长源汉川发电有限公司所属国能长源汉川四期 2×100万千瓦扩建项目7号机组（100万千瓦）顺利通过168小时满负荷试运行，正式投入商业运营。 （原标题：长源电力拟投建松滋100MW风电 ...

Investment Agreements - Longpan Technology plans to invest 2 billion yuan to establish a high-performance lithium battery cathode material project [2] - Yanjing Co. intends to acquire control of high-frequency carrier board manufacturer Yongqiang Technology, with stock suspension [2] - Zhongjian Technology has approved a project for the collaborative development of intelligent robots [2] - Mengwang Technology signed a cooperation agreement worth 60 million yuan with Shenzhou Liuhe for the R&D and production of heavy-lift drones [3] - Jiu Ding New Materials plans to invest 246 million yuan to build a large-scale wind turbine blade production line [4] - Jincai Hulin intends to acquire 51% of Wuxi Sanli for 63.43 million yuan [5] - Changyuan Power plans to invest in a 100MW wind farm project in Hubei Province with a total investment of 562 million yuan [7] - Shengyang Co. plans to acquire 51% of Shenzhen Daren High-Tech for 74.47 million yuan [8] Shareholding Changes - *ST Zhongzhuang announced a change in actual control to Long Jisheng due to the execution of a restructuring plan [9] - Hunan Baiyin's major shareholder reduced its stake to below 5% [10] Stock Buybacks - Century Huatong plans to repurchase shares worth between 300 million and 600 million yuan [11] - Dongcheng Pharmaceutical intends to repurchase shares for 100 million to 200 million yuan [12] - Ningde Times has repurchased a total of 15.99 million A-shares for 4.386 billion yuan [13] Business Operations and Performance - Bailong Oriental expects a net profit increase of 46.34% to 70.73% in 2025 [13] - Longjian Co. anticipates a net profit of 405 million yuan in 2025, a decrease of 2.05% [13] - BYD reported cumulative sales of 4.602 million new energy vehicles in 2025, a 7.73% increase year-on-year [14] Financing and Capital Increases - Zhenhua Co. plans to issue convertible bonds to raise no more than 878 million yuan for projects [15] - Huashu Holdings intends to raise up to 600 million yuan through a private placement to Hongtai Group [15] Other Developments - Xinxing Chemical has resumed production of biomass cellulose filament products after equipment upgrades [24] - Guoguang Electric announced the resumption of the general manager's duties after the lifting of restrictions [25]

1月4日，长源电力（000966）公告称，公司拟在湖北省松滋市新设项目公司，并由新设公司为主体投资 建设国能长源松滋市八宝镇100MW风电场项目，项目规划装机容量10万千瓦，静态总投资5.62亿元(含 配套储能、送出工程)，动态总投资5.72亿元(含配套储能、送出工程)，预计资本金内部收益率7.33%。 长源电力认为，该项目的建设有利于提高公司清洁能源比重，优化公司电源结构，投产后可增加公司营 业收入和利润。 在2025年半年报中，长源电力曾透露，公司积极应对电力改革新形势，坚持市场导向，优先发展风电， 择优开发光伏，持续加快绿色低碳转型。报告期内取得50万千瓦风电资源开发权，获配新能源建设指标 15万千瓦，其中风电7万千瓦、光伏8万千瓦。报告期内，公司新能源项目新开工2.0955万千瓦，投产 19.6955万千瓦。预计2025年全年，公司新能源项目发展计划为新开工20万千瓦、投产30万千瓦。 2025年12月17日，长源电力公告称，全资子公司国能长源汉川发电有限公司所属国能长源汉川四期 2×100万千瓦扩建项目7号机组(100万千瓦)顺利通过168小时满负荷试运行，正式投入商业运营。 该项目采用新一代高效超 ...

Group 1 - Zhongmin Resources has completed the construction of a 30,000-ton high-purity lithium salt project, which began trial production on January 2, 2026, with a total investment of 121 million yuan [2] - Shaoyang Hydraulic's acquisition of 100% of Chongqing Xincheng Hangrui Technology has been accepted by the Shenzhen Stock Exchange [3] - Xingqi Eye Medicine received approval for the supplementary application of atropine sulfate eye drops, aimed at delaying myopia progression in children aged 6 to 12 [4] Group 2 - Bailong Oriental expects a net profit of 600 million to 700 million yuan for 2025, representing a year-on-year increase of 46.34% to 70.73% [5] - Magmite's application for a private placement has been approved by the China Securities Regulatory Commission [6] - *ST Aowei's stock may face delisting risk due to a market capitalization below 500 million yuan [7] Group 3 - Changyuan Power plans to invest 572 million yuan in a wind power project in Hubei Province, with a planned capacity of 100 MW [8] - Haizheng Pharmaceutical's shareholder intends to transfer 6.06% of the company's shares [9] - Fusheng Technology has received approval for a share issuance to acquire assets and raise matching funds [10] Group 4 - Tenglong Co. plans to establish a joint venture for a liquid cooling company with an investment of 30 million yuan [11] - *ST Tianshan reported sales of live livestock amounting to 24.6 million yuan in December 2025, with significant year-on-year growth [12] - Hengxin Oriental's controlling shareholder has released a pledge of 0.91% of shares [13] Group 5 - Peking University Pharmaceutical plans to distribute a cash dividend of 1.68 yuan per 10 shares, totaling 100 million yuan [14] - Tianlong Co. intends to acquire a 54.87% stake in Suzhou Haomi Bo for 232 million yuan [15] - Jinggong Technology's first carbon fiber production line has successfully commenced trial production [16] Group 6 - Shanfeng Cement has terminated its investment and asset acquisition plans due to disagreements on asset valuation [17] - Shengyang Co. plans to acquire 51% of Shenzhen Daren High-tech for approximately 74.47 million yuan [18] - Xinxiang Chemical has resumed production of biomass cellulose filament after equipment upgrades [19] Group 7 - Jiuding New Materials plans to invest 246 million yuan in a wind turbine blade production line project [20] - Hunan Baiyin's shareholder has reduced its stake to below 5% [21] - Century Huatong intends to repurchase shares worth 300 million to 600 million yuan [22] Group 8 - Jincai Hulin plans to acquire 51% of Wuxi Sanli for 63.43 million yuan [23] - Jiamei Packaging's stock has experienced abnormal trading fluctuations, but no significant undisclosed information has been found [25] - Guoguang Electric's general manager has resumed duties after the lifting of restrictions [26] Group 9 - Shengxing Co. is planning a private placement for 2025, with no significant changes in its operational situation [27] - *ST Meigu has applied to lift the delisting risk warning after completing its restructuring plan [28] - CATL has repurchased 15.99 million A-shares for a total of 4.386 billion yuan [29] Group 10 - Phoenix Shipping's actual controller has been released from mandatory measures [30] - Guoxin Technology's new neural network processor has successfully passed internal testing [31] - Yanjing Co. plans to acquire control of Ningbo Yongqiang Technology, leading to a stock suspension [32]

格隆汇1月4日丨长源电力(000966.SZ)公布，为深入贯彻绿色转型发展理念，落实"碳达峰碳中和"战略， 优化公司电源结构，公司拟在湖北省松滋市新设项目公司（简称新设公司），并由新设公司为主体投资 建设国能长源松滋市八宝镇100MW风电场项目（简称松滋八宝风电项目），项目规划装机容量10万千 瓦，静态总投资56,171万元（含配套储能、送出工程），动态总投资57,193万元（含配套储能、送出工 程）。近日，公司已履行内部投资决策程序，同意在松滋市新设项目公司并投资建设松滋八宝风电项 目。 ...

每经AI快讯，1月4日，长源电力(000966.SZ)公告称，公司拟在湖北省松滋市新设项目公司，并由新设 公司为主体投资建设国能长源松滋市八宝镇100MW风电场项目，项目规划装机容量10万千瓦，静态总 投资5.62亿元（含配套储能、送出工程），动态总投资5.72亿元（含配套储能、送出工程）。该项目的 建设有利于提高公司清洁能源比重，优化公司电源结构，投产后可增加公司营业收入和利润。 （文章来源：每日经济新闻） ...

证券代码：000966 证券简称：长源电力 编号：2026-001 国家能源集团长源电力股份有限公司 关于投资建设国能长源松滋市八宝镇 100MW 风电场项目 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。 一、对外投资概述 为深入贯彻绿色转型发展理念，落实"碳达峰碳中和"战略，优化公司电源 结构，公司拟在湖北省松滋市新设项目公司（以下简称新设公司），并由新设公 司为主体投资建设国能长源松滋市八宝镇 100MW 风电场项目（以下简称松滋八 宝风电项目），项目规划装机容量 10 万千瓦，静态总投资 56,171 万元（含配套 储能、送出工程），动态总投资 57,193 万元（含配套储能、送出工程）。 近日，公司已履行内部投资决策程序，同意在松滋市新设项目公司并投资建 设松滋八宝风电项目。 根据《深圳证券交易所股票上市规则》和公司章程的有关规定，本次对外投 资事项无需提交公司董事会和股东会审议。 该事项不构成公司的关联交易，不属于《上市公司重大资产重组管理办法》 规定的重大资产重组。 二、投资标的基本情况 （一）投资主体情况 由于松滋八宝风电 ...

Core Viewpoint - The company plans to establish a new project company in Songzi City, Hubei Province, to invest in and construct a 100MW wind power project, which will enhance its clean energy portfolio and optimize its power structure [1] Group 1: Project Details - The project has a planned installed capacity of 100,000 kilowatts [1] - The static total investment for the project is 562 million yuan, while the dynamic total investment is 572 million yuan [1] - The project is expected to achieve an internal rate of return on invested capital of 7.33% [1] Group 2: Technical Specifications - The project will install 16 units of 6.25MW wind turbines [1] - It will also include the construction of an 80MW/160MWh electrochemical energy storage station [1] Group 3: Regulatory Approvals - The project has obtained the necessary approvals for environmental assessment and water conservation [1] - The connection system plan has passed the review [1] Group 4: Financial Impact - Upon completion, the project is expected to increase the company's revenue and profit [1]

Investment Rating - The report maintains an investment rating of "Outperform the Market - A" for the coal industry [6]. Core Insights - The coal pricing policy in China has shifted from administrative price stabilization to market-oriented flexible regulation from 2022 to 2025, with a focus on optimizing supply structure and enhancing cost support [1][17]. - The complete cost of coal enterprises in major production areas provides a bottom support for port prices, with the support level estimated at approximately 574 RMB/ton for Shanxi and Shaanxi regions [2][30]. - The coal industry is expected to maintain its role as a cornerstone of China's energy system, with supply constraints and gradual energy structure transformation supporting a high price level for coal [11]. Summary by Sections 1. Special Research - The shift in coal pricing policy aims to stabilize energy supply while ensuring reasonable profits for coal and electricity sectors [1]. - The complete cost structure of coal enterprises includes production costs, period expenses, and taxes, with a focus on maintaining energy security and sustainable development [21]. 2. Market Review - The Shanghai Composite Index rose by 1.91% from December 13 to December 26, while the coal index fell by 0.35%, underperforming the overall market [3][32]. 3. Market Information Tracking - As of December 24, 2025, the average price of thermal coal in the Bohai Rim was reported at 695 RMB/ton, reflecting a decrease of 8 RMB/ton from December 10, 2025 [4]. - The price of coking coal at Jing Tang Port was reported at 1740 RMB/ton, an increase of 110 RMB/ton from December 12, 2025 [9]. 4. Industry Dynamics - The National Development and Reform Commission has issued guidelines to enhance the clean and efficient utilization of coal, encouraging upgrades and improvements in coal projects [10]. - The 2026 National Energy Work Conference emphasized the importance of policy support in addressing development challenges within the energy sector [10]. 5. Investment Portfolio and Recommendations - The report suggests focusing on companies with high long-term contract ratios for stable profits, such as China Shenhua, Shaanxi Coal, and China Coal Energy [11]. - It also highlights cyclical stocks like Yanzhou Coal and Jinkong Coal, as well as integrated coal and power companies like Xinji Energy and Huaihe Energy as potential investment opportunities [11].