证券代码：001289 证券简称：龙源电力 公告编号：2025-049 龙源电力集团股份有限公司 关于公司2025年中期利润分配方案的公告 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。 一、审议程序 经 公 司 董 事 会 决 议 ， 公 司 拟 以 截 至 本 公 告 披 露 之 日 公 司 总 股 本 8,359,816,164股（其中A股股份 5,041,934,164股，H股股份 3,317,882,000股）为 基数，拟向全体股东每10股派发现金红利人民币1.00元（税前），预计本次现 金分红总额为人民币835,981,616.40 元，不送股，不进行资本公积转增股本。 1 如在本公告披露之日起至实施权益分派股权登记日期间，因公司增发股份、 回购等原因使公司于实施股息分派股权登记日的已发行股份总数发生变化的， 每股派发现金股息的金额将在人民币835,981,616.40元（税前）的分配总金额内 作相应调整。实际分配的每股现金股息金额，将按照实施股息分派股权登记日 的总股本计算。 公司本次利润分配金额占按中国会计准则编制的2025年半年度合并报表归 ...

Group 1 - The core viewpoint of the article highlights the performance and holdings of the E Fund Hong Kong Stock Connect Dividend Mixed A fund, which has shown significant returns over various time frames [1] - The fund's latest net value is 0.8609 yuan, with a weekly return of 1.01%, a three-month return of 16.94%, and a year-to-date return of 22.37% [1] - The fund was established on March 7, 2018, and as of June 30, 2025, it has a total scale of 2.656 billion yuan [1] Group 2 - The top ten stock holdings of the fund include Longyuan Power, China Mobile, Sinopec Refining, China Chemical Fertilizer, Beijing Enterprises Water Group, Mengniu Dairy, Xinhua Wencun, Sinopec Guande, Datang Renewable, and Sichuan Chengyu [1] - The combined proportion of the top ten holdings accounts for 33.37% of the fund's total assets [1]

Core Viewpoint - The company reported a revenue of 362.34 million yuan, representing a year-on-year growth of 1.48%, and a net profit attributable to shareholders of 28.28 million yuan, showing a significant increase of 135.60% [5]. Financial Performance - Revenue for the reporting period reached 362.34 million yuan, with a year-on-year increase of 1.48% [5]. - Net profit attributable to shareholders was 28.28 million yuan, reflecting a substantial growth of 135.60% [5]. - The net profit after deducting non-recurring gains and losses was 26.92 million yuan, marking a remarkable increase of 272.32% [5]. Operational Management - The company successfully implemented safety management measures, resulting in no significant safety or environmental incidents during the reporting period [5]. - Quality control improvements led to a 40% decrease in quality anomalies, with 10 incidents reported [5]. - Project management was enhanced through dynamic cost tracking and lean management techniques, improving project profitability [5]. Marketing Strategy - The company focused on clean coal utilization and low-carbon transformation, achieving breakthroughs in various sectors including smart construction and energy-saving technologies [6]. - It aligned its strategies with national energy transition policies, exploring new markets for zero-carbon and low-carbon fuel alternatives [6]. Technological Innovation - The company is currently working on 40 research projects, including 3 national projects and 3 group projects [7]. - It has obtained 10 new invention patents in 2025, bringing the total to 146 valid invention patents [8]. - The company has contributed to the development of international and national standards in its field, enhancing its technological leadership [8].

Company Overview - The company reported a revenue of 362.34 million yuan, representing a year-on-year increase of 1.48% [3] - The net profit attributable to shareholders reached 28.28 million yuan, showing a significant year-on-year growth of 135.60% [3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 26.92 million yuan, with a remarkable year-on-year increase of 272.32% [3] Operational Management - The company has effectively implemented safety management measures, resulting in no safety production accidents or environmental incidents during the reporting period [3] - Quality control has been enhanced, with a 40% decrease in quality anomaly feedback cases, totaling 10 incidents [3] - Project management has improved through dynamic cost tracking and lean management techniques, leading to better project profitability [3] Marketing and Innovation - The company has aligned its marketing strategies with national energy transition and low-carbon policies, achieving breakthroughs in various sectors including clean coal utilization and low-carbon technology applications [4] - The company is focusing on new energy sources such as biomass, ammonia, and hydrogen, and has made significant progress in developing new technologies for wind, solar, and thermal energy [4] - The company is currently working on 40 research projects, including national and group-level projects, and has received approval for new patents and standards [5]

Core Viewpoint - Longyuan Power has signed a framework agreement for a 3.53 million kilowatt renewable energy project with the government of Tieli City, Heilongjiang Province, indicating a strategic move towards expanding its renewable energy portfolio [2] Company Overview - Longyuan Power Group Co., Ltd. is primarily engaged in wind and solar power generation, with its main products being electricity and heat [3] - The company focuses on the design, development, construction, management, and operation of wind farms [3] - As of March 31, the company had 40,500 shareholders, an increase of 14.46% from the previous period [7] Financial Performance - For the period from January to March 2025, Longyuan Power reported operating revenue of 8.14 billion yuan, a year-on-year decrease of 17.58%, and a net profit attributable to shareholders of 1.90 billion yuan, down 20.54% year-on-year [7] - The company has distributed a total of 5.978 billion yuan in dividends since its A-share listing, with 4.746 billion yuan distributed over the past three years [8] Market Activity - On August 15, Longyuan Power's stock rose by 1.21%, with a trading volume of 64.99 million yuan and a market capitalization of 139.44 billion yuan [1] - The stock has seen a net inflow of 5.54 million yuan from major investors today, with a total of 12.14 million yuan in major transactions, indicating a lack of significant control by major shareholders [4][5] Technical Analysis - The average trading cost of Longyuan Power's shares is 16.50 yuan, with the current stock price approaching a resistance level of 16.77 yuan, suggesting potential for upward movement if this level is breached [5]

General Overview - The document outlines the operational guidelines for the General Manager of Yantai Longyuan Power Technology Co., Ltd, emphasizing compliance with various laws and regulations [1][2][3] Responsibilities and Reporting - The General Manager is responsible to the Board of Directors and must report on work progress, especially during board meetings [2][5] - The Board has the authority to appoint or dismiss the General Manager and other senior management based on nominations [2][3] Qualifications and Appointment Procedures - Specific disqualifications for the General Manager include criminal convictions related to financial misconduct, bankruptcy involvement, and other legal restrictions [3][4] - The General Manager's term is set for three years, with the possibility of reappointment [3][4] Powers and Duties - The General Manager has extensive powers including managing daily operations, formulating development strategies, and overseeing financial plans [4][5] - Responsibilities also include approving budgets, investment plans, and ensuring compliance with legal and regulatory frameworks [4][5] Meetings and Decision-Making - The General Manager is responsible for convening and leading management meetings to discuss operational matters and make decisions within the scope of authority [6][7] - Special meetings can be called to address specific issues, with a requirement for a majority of management members to be present [7][8] Reporting System - Regular reporting to the Board includes updates on the execution of board decisions, operational challenges, and significant investment projects [9][10] - The General Manager is also required to report to employee representative assemblies to gather feedback [10][11] Final Provisions - The guidelines will be effective upon approval by the Board and will be subject to revisions as necessary [11][12]

Core Viewpoint - The company establishes a value management system aimed at enhancing corporate quality, investor returns, and maintaining the rights of stakeholders through strategic management practices [1][2]. Group 1: General Principles - The value management system is designed to improve the company's investment value and shareholder return capabilities while ensuring compliance with relevant laws and regulations [1]. - The company emphasizes the importance of protecting the interests of investors, particularly small and medium-sized investors, through honest operations and improved investor relations [1][2]. Group 2: Responsibilities and Structure - The Board of Directors leads the value management efforts, focusing on long-term goals that align with current performance and future strategies [2]. - The company’s management team, including the Board Secretary, is responsible for executing value management strategies and maintaining investor relations [2][3]. Group 3: Main Strategies for Value Management - The company plans to enhance investment value through various methods, including mergers and acquisitions, employee stock ownership plans, and cash dividends [3][4]. - Strengthening investor relations and improving information disclosure are key components of the company's strategy to enhance transparency and investor confidence [4]. Group 4: Monitoring and Emergency Measures - The company’s securities department will regularly monitor key indicators such as market capitalization and price-to-earnings ratios, initiating a warning mechanism if significant deviations occur [5][6]. - In the event of a significant drop in stock price, the company will take immediate actions, including communication with major shareholders and public disclosures to explain the situation [6][7]. Group 5: Prohibited Actions - The company and its stakeholders are prohibited from engaging in misleading information disclosure, insider trading, and other actions that could disrupt market order [7][8].

Core Viewpoint - The article highlights the performance of Longyuan Power, a leading player in China's renewable energy sector, particularly in wind power, and its significant A/H share premium, indicating a favorable market perception of its stock [1][2]. Company Overview - Longyuan Power Group Co., Ltd. was established in 1993 and has undergone several organizational changes, currently under the State Energy Group [1]. - The company is recognized as "China's first renewable energy stock" and was successfully listed on the Hong Kong main board in 2009, followed by its A-share listing in 2022 [1]. - Longyuan Power is noted for being one of the earliest specialized companies in wind power development in China, pioneering offshore, low-wind-speed, and high-altitude wind power sectors [1]. Market Performance - On August 13, the Shanghai Composite Index rose by 0.48% to close at 3683.46 points, while the Hang Seng Index increased by 2.58% to 25613.67 points [1]. - Longyuan Power's A-shares closed at 16.87 yuan, down 0.24%, while its H-shares closed at 7.06 HKD, up 0.43% [1]. - The A/H share premium for Longyuan Power reached 161.41%, ranking it eighth among A/H shares [1]. Industry Position - Since 2015, Longyuan Power has maintained its position as the world's largest wind power operator, continuously leading industry development and technological advancements [1].

Core Points - The Shanghai Composite Index rose by 0.5% to close at 3665.92 points, while the Hang Seng Index increased by 0.25% to 24969.68 points [1] - Longyuan Power's A/H share premium reached 162.6%, ranking sixth among A/H shares [1] - Longyuan Power's A-shares closed at 16.91 yuan, with a gain of 0.24%, and H-shares closed at 7.03 HKD, up by 0.14% [1] Company Overview - Longyuan Power Group Co., Ltd. was established in 1993 and has undergone several ownership changes, currently under the State Energy Group [1] - The company successfully listed on the Hong Kong main board in 2009 and is recognized as "China's first new energy stock" [1] - In 2022, Longyuan Power became the first H-share new energy power generation central enterprise to return to A-shares, marking several firsts in the domestic capital market [1] - Longyuan Power is a pioneer in wind power development in China, leading in offshore, low wind speed, and high altitude wind power sectors [1] - Since 2015, Longyuan Power has maintained its position as the world's largest wind power operator [1]

Investment Rating - The report maintains an "Outperform" rating for the power and utilities sector, indicating expectations for the sector to perform better than the market in the next six months [6]. Core Views - The report highlights the recent implementation of supporting details for Document No. 136 in Shandong Province, which is expected to stabilize the industry outlook. Additionally, coal prices are on the rise, which may impact profitability positively [1][3]. - The report notes that the public utilities sector index has shown a slight increase in valuation, with a PE ratio of 17.51x as of August 8, 2025, compared to 17.35x the previous week [1][22]. - The report emphasizes the growth in photovoltaic capacity, with an addition of 211.61 GW in the first half of 2025, indicating a strong trend in renewable energy development [34]. Summary by Sections 1. Market Performance - The public utilities sector index increased by 1.61% during the week of August 4-10, 2025, ranking 22nd among 31 sectors [2][10]. - The performance of sub-sectors varied, with thermal power generation up by 2.88% and hydropower down by 0.56% [2][10]. 2. Industry Dynamics - The National Energy Administration reported that the top five provinces for new photovoltaic installations in the first half of 2025 were Jiangsu (22.07 GW), Xinjiang (19.6 GW), Guangdong (15.59 GW), Shandong (15.05 GW), and Yunnan (13.61 GW) [34]. - Shandong's new energy pricing mechanism has set a bidding upper limit of 0.35 CNY/kWh for both wind and solar power, with lower limits established as well [35]. 3. Key Data Tracking - As of August 8, 2025, the price of Shanxi mixed coal (5500) was 678 CNY/ton, reflecting a week-on-week increase of 3.51% [39]. - The report tracked green certificate trading, with a total of 15.38 and 13.68 thousand transactions for wind and solar power respectively during the week of August 4-10, 2025 [43].