证券代码：001289 证券简称：龙源电力 公告编号：2024-082 龙源电力集团股份有限公司 关于董事辞任的公告 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 导性陈述或者重大遗漏。 一、董事辞任情况 龙源电力集团股份有限公司（以下简称"公司"）第五届董事会于 2024 年 11 月 13 日收到公司非执行董事唐超雄先生的书面辞任报告。因工作变动，唐超 雄先生申请辞去公司非执行董事、董事会审计委员会委员职务，辞任后不在公司 及控股子公司担任任何职务。 根据法律、法规、其他规范性文件和《龙源电力集团股份有限公司章程》的 相关规定，唐超雄先生的辞任自其辞任报告送达董事会时生效。自 2024 年 11 月 13 日后，唐超雄先生将不再担任公司任何职务。 唐超雄先生的辞任不会导致公司现有董事会成员人数低于《中华人民共和国 公司法》规定的法定最低人数，对公司的正常运营无任何影响。唐超雄先生在任 职期间，与公司及董事会无任何意见分歧，亦不存在任何与其辞任有关的其他需 要通知深圳证券交易所和公司股东注意之事项。截至本公告日，唐超雄先生未持 有公司股票。 公司董事会对唐超雄先生任职期间勤勉尽 ...

董事名單與其角色和職能 龍 源 電 力 集 團 股 份 有 限 公 司 董 事 會（「董事會」）成 員 載 列 如 下。 執行董事 宮宇飛 （董事長） 王利強 非執行董事 王雪蓮 陳 傑 張 彤 獨立非執行董事 魏明德 高德步 趙 峰 董 事 會 設 立 五 個 委 員 會。下 表 提 供 各 董 事 會 成 員 在 這 些 委 員 會 中 所 擔 任 的 職 位。 | | 委員會 | 審 計 | 薪酬與 | 提 名 | 戰 略 | 可持續發展 | | --- | --- | --- | --- | --- | --- | --- | | 董 事 | | 委員會 | 考核委員會 | 委員會 | 委員會 | 委員會 | | 宮宇飛 | | | | | C | C | | 王利強 | | | | | M | | | 王雪蓮 | | | | | M | | | 陳 傑 | | | | M | | | | 張 彤 | | | M | | M | | | 魏明德 | | M | C | | | M | | 高德步 | | | M | C | | M | | 趙 峰 | | C | | M | | | C： 有關委員會主 ...

证券代码：001289 证券简称：龙源电力 公告编号：2024-081 龙源电力集团股份有限公司 2024年10月发电量数据公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 龙源电力集团股份有限公司（以下简称"本公司"）2024 年 10 月按合并报 表口径完成发电量 5,897,268 兆瓦时，较 2023 年同期同比增长 8.22%。其中，风 电发电量增长 24.35%，其他可再生能源发电量增长 67.68%。截至 2024 年 10 月 31 日，本公司 2024 年累计完成发电量 62,743,860 兆瓦时，较 2023 年同期同比 增长 2.94%。其中，风电发电量增长 0.44%，其他可再生能源发电量增长 81.12%。 1 业务板块及地区分布 2024 年 10 月 发电量 （兆瓦时） 2023 年 10 月 发电量 （兆瓦时） 10 月同比 变化率 （%） 2024 年 累计发电量 （兆瓦时） 2023 年 累计发电量 （兆瓦时） 年累计发 电量 同比变化 率 （%） 风电业务 5,244,503 4,217,500 24.35 49,1 ...

Investment Rating - The investment rating for the company is "Buy" with a target price of 6.92 HKD, maintained from previous assessments [2]. Core Insights - The company reported a revenue of 26.35 billion HKD for the first three quarters of 2024, a decrease of 6.37% year-on-year, with a net profit attributable to shareholders of 5.668 billion HKD, down 11.38% year-on-year [2]. - The company has completed the transfer of equity in Jiangyin Sulong Thermal Power Co., resulting in a reduction of controlled installed capacity by 1.24 GW, while new units have been put into operation, leading to a total controlled installed capacity of 37.01 GW as of the end of September [2]. - The company plans to inject 4 GW of new energy assets, with an initial batch of approximately 2 GW, as part of a strategy to enhance its operational capacity and market position [2]. Summary by Sections Financial Performance - For the first three quarters, the company achieved a revenue of 26.35 billion HKD, with the wind power segment generating 19.116 billion HKD (down 8.35%), thermal power at 5.439 billion HKD (down 12.48%), and solar power at 1.568 billion HKD (up 65.51%) [2]. - The net profit for Q3 alone was 1.647 billion HKD, reflecting a year-on-year increase of 29.89%, attributed to new unit contributions and equity disposal gains [2]. Operational Highlights - The company’s wind power utilization hours decreased by 108 hours year-on-year to 1,607 hours, with wind power generation at 43.9 billion kWh, a slight decline of 1.82% [2]. - Solar and other renewable energy generation saw a significant increase of 82.76%, reaching 5.8 billion kWh [2]. Future Outlook - The company forecasts net profits attributable to shareholders of 6.6 billion, 7.5 billion, and 8.2 billion HKD for 2024, 2025, and 2026 respectively, with corresponding price-to-earnings ratios of 9, 8, and 7 times [2].

Investment Rating - The investment rating for the company is "Buy" (maintained) [3] Core Views - The company's performance in Q3 exceeded expectations, driven by improved electricity generation due to favorable wind conditions, with a significant recovery anticipated for the full year if the trend continues [1][3] - The company has successfully divested from thermal power assets, with investment income for the first three quarters reaching 674 million, a year-on-year increase of 6316.47%, primarily from the disposal of equity in Jiangyin Sulong Thermal Power [3] - The company is positioned as a leader in the green energy sector, with a strong focus on wind and solar power, and is expected to benefit from the injection of additional renewable energy assets from its controlling shareholder [3] Summary by Sections Financial Performance - For the first three quarters of 2024, the company reported revenue of 26.35 billion, a year-on-year decline of 6.39%, and a net profit attributable to shareholders of 5.475 billion, down 10.61% [1] - In Q3 alone, revenue was 7.467 billion, a decrease of 9.87%, while net profit attributable to shareholders increased by 41.58% to 1.648 billion [1] - The company's electricity generation in Q3 increased by 6.39% year-on-year, showing a significant recovery compared to Q2 [1] Market Position and Future Outlook - The company has a dominant position in wind power, with a total installed capacity of 28.38 GW in wind energy and 7.97 GW in other renewable sources as of September 2024 [3] - The controlling shareholder has approximately 40 GW of unlisted renewable energy assets, which are expected to be injected into the company, enhancing its market position [3] - The company is projected to achieve net profits of 5.934 billion, 6.853 billion, and 7.310 billion for 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 9, 8, and 7 [3][5]

Investment Rating - The investment rating for the company is "Outperform the Market" [6][17][20] Core Views - The company's operating revenue decreased by 6.39% year-on-year to 26.35 billion yuan in the first three quarters of 2024, while net profit attributable to shareholders increased by 41.58% to 1.648 billion yuan in Q3 2024, primarily due to significant growth in investment income [1][7] - The company plans to acquire renewable energy assets from the State Energy Group, which will enhance its renewable energy capacity [3][15] Summary by Sections Financial Performance - In the first three quarters of 2024, the company achieved operating revenue of 26.35 billion yuan, a decrease of 6.39%, and a net profit of 5.475 billion yuan, down 10.61% [1][7] - In Q3 2024, the company reported operating revenue of 7.467 billion yuan, a decline of 9.87%, while net profit rose by 41.58% to 1.648 billion yuan, driven by a 6316.47% increase in investment income [1][7] Power Generation - The total power generation for the first three quarters of 2024 was 56.847 billion kWh, an increase of 2.42%, with wind power generation at 43.862 billion kWh, down 1.82% [2][11] - In Q3 2024, the company generated 16.765 billion kWh of electricity, up 6.39%, with wind power generation increasing by 6.16% [2][11] Investment and Growth - The company intends to acquire equity stakes in eight renewable energy companies from the State Energy Group, with an estimated transaction value of 1.686 billion yuan [3][15] - The total installed capacity of the acquired companies is 2.0329 million kW, including 1.4169 million kW in operation and 586,000 kW under construction [3][15] Profitability and Valuation - The company maintains profit forecasts for 2024-2026, expecting net profits of 6.741 billion yuan, 7.557 billion yuan, and 8.389 billion yuan, representing year-on-year growth of 7.9%, 12.1%, and 11.0% respectively [17][18] - The current stock price corresponds to a PE ratio of 22.9, 20.4, and 18.4 for the years 2024, 2025, and 2026 [17][18]

Investment Rating - The investment rating for the company is "Cautious Recommendation" [2][4]. Core Views - The company reported a significant growth in Q3 2024, with a year-on-year increase in net profit by 41.58% to 1.648 billion yuan, despite a decline in revenue for the first three quarters [1]. - The company is expanding its renewable energy assets through the acquisition of additional projects and the divestment of thermal power assets, which is expected to enhance its performance [1][2]. - The forecasted net profits for the years 2024, 2025, and 2026 are 6.391 billion yuan, 6.935 billion yuan, and 7.781 billion yuan respectively, with corresponding EPS of 0.76, 0.83, and 0.93 yuan [2][5]. Financial Performance Summary - For Q3 2024, the company achieved a revenue of 7.467 billion yuan, a decrease of 9.87% year-on-year, while the net profit for the same period was 1.648 billion yuan, marking a 41.58% increase [1]. - The total power generation for the first three quarters was 56.847 billion kWh, a year-on-year increase of 2.42%, with wind power generation at 43.862 billion kWh, down 1.82% [1]. - The average utilization hours for wind power decreased by 108 hours year-on-year to 1,607 hours, primarily due to poor wind resources in the first half of the year [1]. Asset and Capacity Expansion - As of Q3 2024, the company has a total installed capacity of 37.0 GW, with wind power accounting for 28.4 GW and solar power for 7.97 GW [1]. - The company signed new development agreements for 7.59 GW of projects in the first half of 2024, with a year-on-year increase of 51.87% [1]. - The company plans to acquire stakes in eight renewable energy companies from the State Energy Group, with an estimated transaction price of 1.69 billion yuan, further expanding its renewable energy portfolio [1].

Investment Rating - The report maintains a "Buy" rating for the company, with an updated target price of 19.60 yuan, up from 17.46 yuan, based on a 20x PE valuation for 2025 [2][5]. Core Insights - The company's performance in Q3 2024 exceeded expectations, with revenue of 74.7 billion yuan, a year-on-year increase of 9.9%, and a net profit of 16.5 billion yuan, up 41.6% year-on-year. The growth is attributed to increased investment income and reduced minority shareholder losses [2][4]. - The company has significant potential for installed capacity growth, with plans to acquire stakes in eight renewable energy companies, adding a total of 2.0 GW of capacity, representing a 5.5% growth opportunity [2][4]. Financial Summary - For the first three quarters of 2024, the company reported revenue of 263.5 billion yuan, a decrease of 6.4% year-on-year, and a net profit of 54.7 billion yuan, down 10.6% year-on-year. However, Q3 alone showed a positive trend with a net profit increase of 18.7% [2][3]. - The projected earnings per share (EPS) for 2024 is 0.83 yuan, with upward revisions for 2025 and 2026 to 0.98 yuan and 1.09 yuan, respectively [2][3]. - The company's total installed capacity reached 37.0 GW by the end of Q3 2024, with renewable energy capacity accounting for 98.2% of the total, reflecting a year-on-year increase of 3.9 percentage points [2][4].

证券代码：001289 证券简称：龙源电力 公告编号：2024-077 龙源电力集团股份有限公司 第五届董事会 2024 年第 10 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 导性陈述或者重大遗漏。 一、董事会会议召开情况 龙源电力集团股份有限公司（以下简称"公司"）第五届董事会 2024 年 第 10 次会议（以下简称"本次会议"）已于 2024 年 10 月 15 日以电子邮件等 方式通知全体董事。本次会议于 2024 年 10 月 30 日在北京以现场方式召开， 会议应出席董事 9 人，实际出席 9 人。本次会议由董事长宫宇飞先生主持，公 司监事、高管人员列席。本次会议的召开符合《中华人民共和国公司法》《龙 源电力集团股份有限公司章程》《龙源电力集团股份有限公司董事会议事规则》 的规定。 二、董事会会议审议情况 本次会议经审议，形成决议如下： 表决结果：9 票同意、0 票反对、0 票弃权。 具体内容详见公司同日刊登在巨潮资讯网（www.cninfo.com.cn）和在《中 国证券报》《证券时报》《证券日报》《上海证券报》上披露的《龙源电力集 团股份有限公 ...

证券代码：001289 证券简称：龙源电力 公告编号：2024-080 龙源电力集团股份有限公司 关于股东增持公司股份持股达到 5%以上的提示性公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 特别提示： 1. 本次权益变动属于股东增持，未触及要约收购； 2. 本次权益变动不会导致公司控股股东及实际控制人发生变化。 2024 年 10 月 30 日，龙源电力集团股份有限公司（以下简称"公司"）收到 股东瑞众人寿保险有限责任公司（以下简称"瑞众人寿"）出具的《简式权益变 动报告书》，告知其通过港股通二级市场买入本公司 H 股股票已达到公司总股本 的 5%。具体增持情况如下： 一、本次增持情况 1．增持人：瑞众人寿保险有限责任公司 1 注："持股比例"按公司目前总股本 8,359,816,164 股计算得出。 二、其他相关说明 1．本次瑞众人寿增持行为不涉及公司控股股东、实际控制人变更，不会对 上市公司的人员、资产、财务、业务、机构等方面的独立性产生影响，也不存在 损害上市公司及其他股东利益的情形。 2．本次增持后，瑞众人寿持有本公司股份 417,991,00 ...