龙源电力公告，2025年8月按合并报表口径完成发电量527.33万兆瓦时，同比增长5.56%，剔除火电影响 同比增长32.97%。风电发电量同比增长22.38%，光伏发电量同比增长74.41%。截至2025年8月31日，累 计完成发电量5125.46万兆瓦时，同比下降0.001%，剔除火电影响同比增长15.53%，其中风电同比增长 7.42%，光伏同比增长77.04%。 ...

来源：新浪基金∞工作室 9月8日，龙源电力涨0.56%，截至发稿，报17.92元/股，成交1.79亿元，换手率0.20%，总市值1498.08亿 元。龙源电力股价已经连续3天上涨，区间累计涨幅7.56%。 资料显示，龙源电力集团股份有限公司位于北京市西城区阜成门北大街6号(c幢)20层2006室,香港铜锣湾 希慎道33号利园1期19楼1917室，成立日期1993年1月27日，上市日期2022年1月24日，公司主营业务涉 及电力系统及电气设备的技术改造、技术服务和生产维修;与电力相关的新技术、新设备、新材料、新 工艺的研制、开发、生产、成果转让;电站污染物治理;风力发电、节能技术及其他新能源的技术开发、 项目投资管理;进出口业务;电气设备的租赁;与主营业务相关的咨询服务;承办展览会、展销会;机电产 品、化工原料及制品(危险化学品除外)、建筑材料、五金交电、日用百货、汽车配件、电力系统专用车 辆的销售;出租写字间。主营业务收入构成为：电力产品99.22%，其他收入0.78%。 从龙源电力十大流通股东角度 数据显示，华泰柏瑞基金旗下1只基金位居龙源电力十大流通股东。华泰柏瑞沪深300ETF（510300）二 季度增 ...

公开资料显示，龙源电力是中国最早开发风电的专业化公司，自2015年以来，持续保持世界第一大风电 运营商地位。目前，龙源电力已成为一家以开发运营新能源为主的大型综合性发电集团，拥有风电、光 伏、生物质、潮汐、地热和火电等电源项目。业务分布于国内32个省区市以及多个海外市场，为全球能 源绿色低碳发展和可再生能源利用做出积极贡献。 龙源电力（001289）(00916)涨超5%，截至发稿，涨5.95%，报7.84港元，成交额5.23亿港元。 天风证券（601162）研报指出，数据中心作为算力服务的运行载体，电力成本通常占运营总成本的50% 以上。需求和能源矛盾倒逼算力绿色化变革。数据经济时代，算力成为数据中心核心需求，进而带动电 力需求高增，建议关注新能源运营商龙源电力。 ...

智通财经APP获悉，龙源电力(00916)涨超5%，截至发稿，涨5.95%，报7.84港元，成交额5.23亿港元。 公开资料显示，龙源电力是中国最早开发风电的专业化公司，自2015年以来，持续保持世界第一大风电 运营商地位。目前，龙源电力已成为一家以开发运营新能源为主的大型综合性发电集团，拥有风电、光 伏、生物质、潮汐、地热和火电等电源项目。业务分布于国内32个省区市以及多个海外市场，为全球能 源绿色低碳发展和可再生能源利用做出积极贡献。 天风证券研报指出，数据中心作为算力服务的运行载体，电力成本通常占运营总成本的50%以上。需求 和能源矛盾倒逼算力绿色化变革。数据经济时代，算力成为数据中心核心需求，进而带动电力需求高 增，建议关注新能源运营商龙源电力。 ...

来源：新浪基金∞工作室 9月8日，龙源电力涨0.56%，截至发稿，报17.92元/股，成交1.79亿元，换手率0.20%，总市值1498.08亿 元。龙源电力股价已经连续3天上涨，区间累计涨幅7.56%。 格林伯锐灵活配置A（006181）基金经理为宋宾煌、王振林。 从基金十大重仓股角度 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 数据显示，格林基金旗下1只基金重仓龙源电力。格林伯锐灵活配置A（006181）二季度持有股数5000 股，占基金净值比例为0.5%，位居第一大重仓股。根据测算，今日浮盈赚取约500元。连续3天上涨期 间浮盈赚取6300元。 截至发稿，宋宾煌累计任职时间2年354天，现任基金资产总规模2085.43万元，任职期间最佳基金回报 23.63%， 任职期间最差基金回报-23.16%。 王振林累计任职时间2年354天，现任基金资产总规模1777.61万元，任职期间最佳基金回报29.23%， 任 职期间最差基金回报-23.16%。 资料显示，龙源电力集 ...

Industry Rating - The report maintains an "Outperform" rating for the public utility sector [1] Core Insights - The data center industry in China is expected to reach a market size of 304.8 billion yuan and over 10 million standard racks by 2024, both achieving a year-on-year growth of over 20% [2][25] - The emergence of AI technologies, particularly large models, is driving significant demand for computing power, which is expected to enhance the growth of data centers [3][65] - The increasing electricity demand from data centers is projected to lead to a transformation towards greener computing solutions [4][111] Summary by Sections 1. Progress of China's Data Center Industry - The development of China's data center industry has evolved through four stages, with computing power becoming the driving force in the digital economy since 2020 [9][18] - The market is characterized by a significant regional distribution, with the "East Data West Computing" initiative promoting a balanced development across eight hubs and ten clusters [32][38] 2. AI's Impact on Data Center Demand - The launch of DeepSeek in January 2025 is expected to significantly increase the rack utilization rate in third-party data centers [3][79] - The average rack utilization rate in China was 56.4% by the end of 2023, indicating a mismatch between supply and demand [56] - The global demand for computing power is projected to grow at a rate exceeding 50% annually, with AI applications driving this growth [65][71] 3. Electricity Demand and Green Transformation - Data centers' electricity costs typically account for over 50% of their total operating costs, with some internet clients seeing this figure rise to 70-80% [95] - The International Energy Agency (IEA) predicts that global data center electricity consumption will double from 415 TWh in 2024 to approximately 945 TWh by 2030, with a compound annual growth rate of about 15% [101] - By 2030, China's data center electricity demand is expected to reach between 300 billion and 700 billion kWh, representing 2.3% to 5.3% of the total electricity consumption [108][109]

AI基金易方达港股通红利混合A（005583）披露2025年半年报，上半年基金利润2.31亿元，加权平均基金份额本期利润0.0826元。报告期内，基金净值增长 率为10.82%，截至上半年末，基金规模为26.56亿元。 该基金属于灵活配置型基金。截至9月5日，单位净值为0.872元。基金经理是唐博伦。 基金管理人在半年报中表示，相较于去年，今年以来港股市场出现了几个变化： 第一，年初至今高股息指数跑输宽基指数。一方面，表现较好的AI、生物 医药相关板块在高股息和价值板块中敞口较小；另一方面，部分传统股息板块经过过去两年的上涨，估值吸引力下降，出现滞涨情况。 第二，区别于往 年，高股息指数内部出现了巨大的分化，部分板块表现优劣排序为：银行、多品类零售、电信、公用事业。 第三，港股市场增量资金在一季度快速流入后 逐渐放缓，而IPO和配售等融资金额在一季度后出现加速。新股和配售市场异常火爆。 向前展望，我们认为，若市场因为资金流入放缓叠加融资加速陷入焦灼，滞涨的高股息板块可能出现超额机会。在股息类资产内部，我们相对看好滞涨的公 用事业等板块，它们不仅估值相对较低，且处在资本开支下行周期中，自由现金流呈现改善状态，存 ...

Core Points - The electricity sector experienced a rise of 0.91% on the trading day, with Lu Xiao Technology leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Company Performance - Lu Xiao Technology (002617) closed at 9.09, with a gain of 10.05% and a trading volume of 3.1734 million shares, totaling a transaction value of 2.797 billion [1] - Shanghai Electric (600021) closed at 20.77, up 10.01%, with a trading volume of 1.5713 million shares, totaling a transaction value of 3.059 billion [1] - Tianfu Energy (600509) closed at 7.32, with a gain of 7.17% and a trading volume of 1.4411 million shares, totaling a transaction value of 1.039 billion [1] - Longyuan Power (001289) closed at 17.82, up 6.07%, with a trading volume of 154,700 shares, totaling a transaction value of 270 million [1] - Jingyuntong (601908) closed at 4.34, with a gain of 5.60% and a trading volume of 2.3028 million shares, totaling a transaction value of 992 million [1] - Other notable performers include Jiaze New Energy (619109), Xiexin Energy Technology (002015), Huaguang Huaneng (600475), ST Yinda (300125), and Jiawei New Energy (300317) with varying gains and trading volumes [1] Fund Flow - The electricity sector saw a net inflow of 784 million from main funds, while retail funds experienced a net outflow of 246 million [3] - Speculative funds had a net outflow of 538 million [3]

Core Viewpoint - The power sector is experiencing a significant rise in stock prices, driven by a record-breaking electricity consumption in July and favorable conditions for thermal power companies [1] Group 1: Stock Performance - Longyuan Power (001289)(00916) increased by 6% to HKD 7.42 [1] - China Power (02380) rose by 3.65% to HKD 3.41 [1] - Huaneng International (600011)(00902) gained 2.79% to HKD 5.89 [1] - China Resources Power (00836) climbed 2.51% to HKD 18.78 [1] Group 2: Electricity Consumption - In July, the total electricity consumption in China reached 1.02 trillion kWh, marking the first time it surpassed 1 trillion kWh in a month [1] Group 3: Industry Insights - Dongguan Securities reported that the rapid development of renewable energy is squeezing the market share of thermal power, leading to a year-on-year decline in revenue for several thermal power companies [1] - Despite the decline in revenue, companies like Huaneng International and Huadian International (600027) achieved year-on-year growth in net profit due to falling fuel prices [1] - Average coal prices have decreased year-on-year, which is beneficial for the profitability of thermal power companies [1] Group 4: Future Outlook - Bank of America noted that the performance of Chinese power stocks in the first half of the year largely met expectations [1] - Guosheng Securities projected that the overall performance of the power sector will align with expectations, with thermal power seeing revenue decline but profit increase, while hydropower remains stable and green energy faces pressure [1] - The current electricity prices are expected to bottom out and rebound, with demand recovery anticipated to boost electricity consumption and continued decline in fuel costs [1]

Group 1: Overall Industry Performance - Chinese power stocks' performance in the first half of the year generally met expectations, with strong earnings and free cash flow from thermal power, wind supply chain, and environmental businesses [1] - However, gas, wind, solar independent power producers, and solar supply chain showed relatively weak performance [1] Group 2: Company Ratings and Target Prices - Huaneng International Power (600011) received a "Buy" rating due to a free cash flow yield of 8%, with the H-share target price raised from HKD 6 to HKD 6.2 [1] - China Resources Power (00836) was rated "Neutral," with the target price decreased from HKD 20.2 to HKD 19.8 due to declining revenue from coal and renewable energy [1] - Huadian International Power (600027) had its rating downgraded from "Buy" to "Neutral," with the H-share target price lowered from HKD 4.9 to HKD 4.6, amid concerns over falling electricity prices and seasonal weakness [1] Group 3: Specific Company Insights - China Everbright Environment (00257) received a "Buy" rating, with a 23% year-on-year increase in pre-tax profit and a doubling of free cash flow, targeting a price of HKD 5.3 [2] - Longyuan Power (001289) was rated "Underperform," with a target price of HKD 6, as its earnings decline was in line with expectations, and attention will be paid to subsidy collection and upcoming provincial power tenders [2]