Core Insights - The company, Changyuan Power (000966.SZ), reported a significant decrease in electricity generation for the year 2025, with a total output of 2.38 billion kilowatt-hours, representing a year-on-year decline of 40.54% [1] Group 1: Electricity Generation Breakdown - Thermal power generation decreased by 43.39% year-on-year [1] - Hydropower generation increased by 25.79% year-on-year [1] - New energy generation saw a slight decline of 4.22% year-on-year [1] Group 2: Cumulative Electricity Generation - For the full year of 2025, the cumulative electricity generation reached 34.44 billion kilowatt-hours, down 14.12% compared to the previous year [1] - Cumulative thermal power generation fell by 16.60% year-on-year [1] - Cumulative hydropower generation increased by 19.18% year-on-year [1] - Cumulative new energy generation experienced a modest growth of 0.77% year-on-year [1]

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%。 智通财经APP讯，长源电力(000966.SZ)公告，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%。 ...

Core Viewpoint - Changyuan Power (000966.SZ) reported a significant decrease in power generation for the year 2025, with total generation dropping by 40.54% year-on-year to 2.38 billion kilowatt-hours [1] Group 1: Power Generation Performance - The total power generation for the year 2025 was 34.44 billion kilowatt-hours, reflecting a year-on-year decline of 14.12% [1] - Thermal power generation saw a notable decrease of 43.39% year-on-year, while hydropower generation increased by 25.79% [1] - New energy power generation experienced a slight decline of 4.22% year-on-year [1] Group 2: Cumulative Power Generation - For the cumulative power generation from January to December 2025, thermal power generation decreased by 16.60% year-on-year [1] - Hydropower generation for the same period increased by 19.18% year-on-year [1] - Cumulative new energy generation showed a marginal increase of 0.77% year-on-year [1]

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 ...

Core Viewpoint - Changyuan Power plans to invest in a 100MW wind power project in Songzi, Hubei Province, aiming to increase the proportion of clean energy in its portfolio and enhance its revenue and profit [1][2] Group 1: Project Details - The project involves the establishment of a new company to construct the Guoneng Changyuan Songzi 100MW wind farm, with a static total investment of 562 million yuan and a dynamic total investment of 572 million yuan [1] - The wind farm will consist of 16 wind turbines, each with a capacity of 6.25MW, and will include an 80MW/160MWh electrochemical energy storage station [1] - The project is expected to have an internal rate of return on capital of 7.33% [1] Group 2: Strategic Importance - The project is strategically located in a flat area with good wind resources and construction conditions, making it a valuable investment opportunity [1] - The demand for electricity in Songzi is growing rapidly, and the project's connection system has been approved by the State Grid Hubei Company, ensuring reliable integration and consumption [1] - The co-located energy storage station will enhance the project's competitiveness and risk resilience by providing power regulation capabilities [1] Group 3: Company Growth and Development - Changyuan Power aims to optimize its power generation structure and increase its clean energy share through this project [2] - In the first half of 2025, the company reported acquiring 500,000 kW of wind power development rights and 150,000 kW of new energy construction indicators [2] - The company plans to start 200,000 kW of new energy projects and put 300,000 kW into operation in 2025 [2]

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） ...