中化新网讯 近日，龙源电力（001289）吉林公司长春新能源氢基化工综合利用一体化示范项目取得关 键进展：配套75万千瓦新能源建设指标获长春市政府批复，化工项目完成长春市发展改革委备案。该项 目预计将实现100%绿电消纳、年减碳36万吨。 为保障氢氨产品的市场消纳，在国家能源集团统筹部署下，龙源电力吉林公司积极拓展合作渠道，已与 国内外4家企业签订绿氨销售协议，目前正与中车以及日本、韩国两家外资企业深化洽谈，有望实现项 目绿氨全量消纳。这种"生产—销售"无缝衔接的商业闭环，为新能源下游产业商业化运营提供了可复制 样本。 作为长春地区首个氢基综合能源示范项目，其化工部分位于长春市长春新区北湖精细化工新材料产业示 范园。此次获批的配套75万千瓦新能源建设指标分布在农安县和德惠市，其中，农安县60万千瓦风电， 包含45万千瓦风电、15万千瓦光伏，采用"自发自用"模式，为年产20万吨绿氨的化工项目提供100%绿 电；德惠市15万千瓦风电则采用"自发自用、余电上网"模式接入吉林电网，预计年输送清洁电力4.5亿 千瓦时，可减排二氧化碳36万吨，生态效益显著。 ...

Investment Rating - The report maintains a "Positive" investment rating for the utility sector [7] Core Insights - The implementation of the market-oriented pricing mechanism for renewable energy in Shandong Province marks the beginning of a new development cycle for the sector. The total scale of mechanism electricity for 2025 is set at 9.467 billion kilowatt-hours, with wind power accounting for 8.173 billion kilowatt-hours and solar power for 1.294 billion kilowatt-hours. The bidding price range for wind power is between 0.094 and 0.35 yuan per kilowatt-hour, while for solar power it is between 0.123 and 0.35 yuan per kilowatt-hour, both below the benchmark price for coal-fired power [2][6] Summary by Sections Mechanism Pricing Implementation - Shandong Province has officially launched the market-oriented pricing mechanism for renewable energy, with the total mechanism electricity for 2025 set at 9.467 billion kilowatt-hours, including 8.173 billion kilowatt-hours from wind and 1.294 billion kilowatt-hours from solar [2][6] - The bidding limits for wind and solar projects are established at 0.35 yuan per kilowatt-hour, which is lower than the coal-fired benchmark price of 0.3949 yuan per kilowatt-hour [6] Project Capacity and Bidding Details - The mechanism electricity for individual projects is calculated based on installed capacity, annual utilization hours, and other factors. The annual utilization hours for land wind, offshore wind, and solar are set at 2417, 2860, and 1253 hours respectively [6] - The expected installed capacity for wind and solar projects eligible for the mechanism is approximately 5 GW and 1.3 GW respectively, reflecting a policy direction favoring wind power development over solar [6] Investment Recommendations - The report suggests that the "carbon neutrality" initiative and electricity market reforms will reshape the value of electricity operators throughout the 14th Five-Year Plan period. It recommends focusing on quality coal-fired operators and major hydropower companies, as well as leading renewable energy firms [6][12][13][14][15][17]

Investment Rating - The report maintains a "Buy" rating for the utilities and environmental protection industry [1] Core Viewpoints - The report highlights the structural characteristics of electricity consumption growth from 2023 to 2025, noting that the growth in electricity consumption from the tertiary industry and charging stations remains resilient, while the secondary industry and residential electricity consumption show relative weakness [3][33] - The report suggests focusing on power generation assets in regions with tight electricity supply and favorable competition, recommending companies such as Anhui Energy and Huadian International for thermal power, and China Nuclear Power for nuclear power [2][66] - The report emphasizes the importance of new energy development, market mechanisms, and zero-carbon park construction as key drivers for the industry's transformation [3][60] Summary by Sections Weekly Market Performance - The Shanghai Composite Index rose by 2.11%, with the carbon neutrality sector up by 2.47%, the environmental sector up by 2.41%, and the utilities sector up by 1.76% [1][9] Electricity Consumption Growth Analysis - The contribution rate of urban and rural residential electricity consumption significantly declined from 18.2% in 2024 to 7.7% in 2025 due to a "warm winter" phenomenon [3][33] - The secondary industry's electricity consumption growth rate and contribution rate have been continuously declining, with high-energy-consuming industries recovering at a low level post-pandemic [3][33] - The tertiary industry's electricity consumption remains robust, driven by rigid demand in the service sector and growth in information transmission due to AI development [3][33] Policy and Regulatory Updates - The National Development and Reform Commission and the National Energy Administration issued new rules for electricity market measurement and settlement, effective from October 1, 2025 [3][60] - The report discusses the focus of major state-owned enterprises on new energy development, storage technology, and global energy market participation [3][60] Investment Recommendations - The report recommends focusing on leading companies in various sectors, including Anhui Energy and Huadian International for thermal power, Yangtze Power for hydropower, and Longyuan Power for wind energy [2][66] - It also suggests monitoring the environmental sector, particularly urban comprehensive operation management service providers like Yuhua Tian [2][66] Industry Trends - The coal sector is experiencing upward pressure due to supply constraints and rising demand, while the thermal power sector faces slight pressure from high coal prices and seasonal demand fluctuations [3][66] - The renewable energy sector, particularly wind and solar, is expected to see stable growth despite some challenges in installation and utilization rates [3][66]

Key Highlights - Furi Electronics' subsidiary provides JDM/OEM services for service robot products [1] - Haike New Source's wholly-owned subsidiary begins trial production of high-end materials for power batteries [1] - Tongyuan Environment wins a contract for a comprehensive waste management project worth 154 million yuan [1] - Seres reports July sales of 44,581 new energy vehicles, a year-on-year increase of 5.7% [1] - Lanhua Ketech plans to acquire 62% equity of Jiaxiang Port for 149 million yuan [1] - Jindan Technology completes a share buyback of 1.14% of its shares [1] - SMIC reports half-year sales revenue of 4.46 billion USD, a year-on-year increase of 22% [1][2] - Huaxi Biological's controlling shareholder plans to increase holdings by 200 million to 300 million yuan [1][2] - Liugang Co. plans to raise no more than 300 million yuan through a private placement [1][2] - Longyuan Power reports a 2.44% year-on-year increase in power generation in July [1] - Ankai Bus reports cumulative sales of 4,410 units from January to July, a year-on-year increase of 39.38% [1]

Core Insights - Longyuan Power (00916.HK) reported a total power generation of 6,328,759 MWh for July 2025, representing a year-on-year increase of 2.44%. Excluding the impact of thermal power, the growth is 21.12% [1] - Wind power generation increased by 6.38% year-on-year, while solar power generation saw a significant rise of 105.92% [1] Summary by Category Power Generation Performance - As of July 31, 2025, the cumulative power generation for the year reached 45,981,236 MWh, reflecting a year-on-year decline of 0.6%. Excluding thermal power impacts, the growth stands at 13.82% [1] - Wind power generation for the cumulative period increased by 6.11%, and solar power generation surged by 77.52% [1]

（编辑 何成浩） 证券日报网讯 8月7日晚间，龙源电力发布公告称，2025年7月按合并报表口径完成发电量6，328，759 兆瓦时，较2024年同期增长2.44%，剔除火电影响同比增长21.12%。本月风电发电量同比增长6.38%， 光伏发电量同比增长105.92%。 ...

Group 1: Company Performance - SMIC reported Q2 revenue of $2.21 billion, a 16% year-over-year increase, but a 1.7% decrease quarter-over-quarter [1] - China Mobile achieved a net profit of 84.2 billion yuan in the first half of 2025, a 5% year-over-year increase, with a mid-term dividend of 2.75 HKD per share, up 5.8% [2] - Huahong Semiconductor's Q2 revenue was $566.1 million, an 18.3% year-over-year increase, with Q3 revenue guidance of $620 million to $640 million [3] Group 2: Business Operations and Developments - Chuangzhong Technology clarified that it does not engage in the production of liquid-cooled servers, only participating in testing platforms, with no revenue generated from this segment in H1 2025 [4] - Shuo Beid announced it has sent samples of liquid-cooled server plates to Taiwanese clients, but the ability to pass testing and achieve mass production remains uncertain [5] - Furi Electronics stated that its subsidiary provides JDM/OEM services for service robots, but this revenue accounts for less than 1% of the company's total revenue [6] Group 3: Industry Trends and Market Movements - Sales of new energy vehicles by Seres reached 44,581 units in July, reflecting a 5.7% year-over-year increase [7] - Longyuan Power completed a power generation of 6,328.76 MWh in July, marking a 2.44% year-over-year growth [8] - Jianglong Shipbuilding won a bid for the "Blue Granary" marine economic development project, indicating ongoing infrastructure investments [8]

证券日报网讯 8月7日晚间，龙源电力发布公告称，2024年年度权益分派方案为：以公司现有总股本8， 359，816，164股为基数，向全体股东每10股派发现金红利人民币2.278元（税前）。A股股本5，041， 934，164股，共计派发A股现金红利人民币1，148，552，602.56元（税前）。股权登记日为2025年8月 14日，除权除息日为2025年8月15日，现金红利发放日为2025年8月15日。 （编辑 楚丽君） ...

Core Viewpoint - Longyuan Power (001289.SZ) reported a total power generation of 6,328,759 MWh for July 2025, representing a year-on-year increase of 2.44%, with a 21.12% increase when excluding the impact of thermal power [1] Group 1: Power Generation Performance - In July 2025, the company's wind power generation increased by 6.38% year-on-year, while solar power generation surged by 105.92% [1] - Cumulatively, as of July 31, 2025, the company achieved a total power generation of 45,981,236 MWh, which is a 0.6% decrease compared to the same period in 2024, but shows a 13.82% increase when excluding thermal power impacts [1] - Within the cumulative figures, wind power generation grew by 6.11% and solar power generation increased by 77.52% [1]

人民财讯8月7日电，龙源电力（001289）8月7日晚间公告，公司2025年7月按合并报表口径完成发电量 632.88万兆瓦时，较2024年同期同比增长2.44%，剔除火电影响同比增长21.12%。7月风电发电量同比增 长6.38%，光伏发电量同比增长105.92%。截至2025年7月31日，公司2025年累计完成发电量4598.12万兆 瓦时，较2024年同期同比下降0.6%，剔除火电影响同比增长13.82%，其中风电增长6.11%，光伏增长 77.52%。 ...