本文源自：金融界 作者：行情君 资料显示，龙源电力集团股份有限公司成立于1993年,当时隶属国家能源部,后历经电力部、国家电力公 司、中国国电集团公司,现隶属于国家能源集团。2009年,在香港主板成功上市,被誉为"中国新能源第一 股"。2022年正式在A股上市,成为国内首单H股新能源发电央企回归A股、首单五大发电集团新能源企业 登陆A股资本市场、首单同步实施换股吸收合并、资产出售和资产购买项目。龙源电力是中国最早开发 风电的专业化公司,率先开拓了我国海上、低风速、高海拔等风电领域,率先实现我国风电"走出去",不断 引领行业发展和技术进步。自2015年以来,持续保持世界第一大风电运营商地位。 *注：AH股是指同时在A股和港股上市的公司，溢价（A/H）越大，说明H股相比A股越便宜。 8月4日，上证指数涨0.66%，收报3583.31点，恒生指数涨0.92%，收报24733.45点。 龙源电力AH溢价达157.01%，位居AH股溢价率第十位。当日收盘，龙源电力A股报16.4元，涨幅 0.18%，H股报6.98港元，下跌0.14%。 ...

【龙源电力成立新公司！】国家企业信用信息公示系统显示，7月31日，封开龙源新能源有限公司成 立，注册资本17920万元，法定代表人钱世庆。该公司经营范围为，许可项目：发电业务、输电业务、 供（配）电业务。股东及出资信息显示，该公司由龙源电力集团股份有限公司全资持股。#电力快讯# ...

Core Viewpoint - Longyuan Power has signed a framework agreement for a 353 MW renewable energy project with the government of Tieli City, Heilongjiang Province, focusing on a 300 MW pumped storage project [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 is involved in the design, development, construction, management, and operation of wind farms [3] - As of March 31, Longyuan Power had 4.05 million shareholders, an increase of 14.46% from the previous period [7] Financial Performance - For the period from January to March 2025, Longyuan Power reported 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 4.074 billion yuan in dividends since its A-share listing [8] Market Activity - On August 4, Longyuan Power's stock price increased by 0.18%, with a trading volume of 616.52 million yuan and a market capitalization of 137.10 billion yuan [1] - The stock has seen a net inflow of 1.18 million yuan from major investors today, with a total of 3.22% of the total trading volume attributed to major investors [4] Technical Analysis - The average trading cost of Longyuan Power's shares is 16.73 yuan, with the stock price currently near a resistance level of 16.41 yuan [5]

Core Viewpoint - Recently, Fengkai Longyuan New Energy Co., Ltd. was established, with its legal representative being Qian Shiqing, and its business scope includes power generation, transmission, and distribution [1] Company Summary - Fengkai Longyuan New Energy Co., Ltd. is fully owned by Longyuan Power (001289) [1] - The company is involved in various energy-related operations, indicating a strategic expansion in the renewable energy sector [1]

Investment Rating - The report maintains a "Positive" investment rating for the green electricity industry [8] Core Insights - The price of green certificates has shown a significant recovery, with the trading price for 2025 electricity corresponding to green certificates reaching 6.48 yuan per certificate, a month-on-month increase of 31.99% [2][11] - The issuance of green certificates remains high, with 278 million certificates issued in June, a month-on-month increase of 29.33%, indicating a strong supply [6] - The demand for green electricity is expected to increase due to mandatory assessments for high-energy-consuming industries, which will further support the price recovery of green certificates [2][11] Summary by Sections Green Certificate Issuance and Trading - In June, 278 million green certificates were issued, with 196 million being tradable, accounting for 70.64% of the total [6] - The total number of tradable green certificates issued from January to June 2025 reached 958 million [6] - The average trading price of green certificates in June was 3.40 yuan per certificate, reflecting a month-on-month increase of 24.77% [11] Market Dynamics - The report highlights a potential imbalance in supply and demand for green certificates, with expectations of a decrease in supply due to policy changes [2][11] - The green electricity industry is under long-term pressure from market pricing, but the recovery in green certificate prices is seen as a key catalyst for restoring the narrative of public utilities and growth [2][11] Investment Recommendations - The report suggests focusing on quality transformation power operators such as Huaneng International, Huadian International, and China Power, as well as large hydropower companies like Yangtze Power and Guotou Power [11][15][17] - It also recommends investing in renewable energy companies like Longyuan Power and China Nuclear Power, which are expected to benefit from policy changes and market dynamics [11][17][18]

Industry Overview - The reed relay, composed of a reed switch and coil, is a key electronic switching component in modern electrical control systems due to its compact size, rapid response, and high reliability [1][18] - The application of reed relays is expanding in automation control, industrial equipment, and information transmission, driven by China's economic growth and technological advancements [1][18] - The market size of China's reed relay industry is projected to grow from 1.899 billion yuan in 2021 to 2.519 billion yuan in 2024, with a compound annual growth rate (CAGR) of 9.87% [1][18] - By 2025, the market size is expected to reach 3.036 billion yuan, supported by technological innovation and expanding application areas [1][18] Market Demand and Trends - The acceleration of industrial automation, particularly in the new energy sector, smart grid construction, and the rapid development of IoT technology, is creating significant market demand for reed relays [1][18] - The industry is benefiting from national policies promoting energy conservation, emission reduction, and smart manufacturing, presenting new development opportunities [1][18] Industry Structure - The reed relay industry has a relatively complete supply chain, covering upstream raw material supply, midstream research and manufacturing, and downstream application markets [12] - Upstream materials include iron-nickel alloys, glass tubes, precious metals, excitation coils, epoxy resins, and inert gases [12] Key Companies - Major companies in the reed relay industry include Kunshan Guoli Electronics Technology Co., Ltd., Shenzhen Magtech Electronics Co., Ltd., Shanghai Meigaole Electronics Co., Ltd., and Shanghai Standex-Meder Electronics Co., Ltd. [20][21] - Kunshan Guoli Electronics is noted for its vacuum relay products, including reed relays designed for RF and high-power applications, with projected revenue of 778 million yuan in 2024, a 15.43% increase [22] - Shenzhen Magtech focuses on producing various electronic components, including small-sized reed relays and high-voltage relays [24] Future Development Trends - The industry is expected to enhance performance by optimizing reed materials and improving packaging processes to increase environmental resistance [26] - There is a growing demand for miniaturized reed relays driven by the rapid development of consumer electronics and IoT devices [28] - Low-power reed relays are increasingly sought after in green energy sectors, with innovations aimed at reducing energy consumption while maintaining high sensitivity [29]

Group 1 - Longyuan Power Group Co., Ltd. has invested 179.2 million RMB to establish Fengkai Longyuan New Energy Co., Ltd., holding 100% of the shares [1] - Fengkai Longyuan New Energy Co., Ltd. was established on July 31, 2025, with Qian Shiqing as the legal representative [1] - The company is located in Zhaoqing City and operates in the electricity and heat production and supply industry [1] Group 2 - The registered capital of Fengkai Longyuan New Energy Co., Ltd. is 179.2 million RMB [1] - The company is authorized to engage in power generation, transmission, and distribution activities, subject to approval from relevant authorities [1]

截至2025年7月30日15时，龙源电力股价报17.18元，较前一交易日上涨1.90%。当日开盘价为16.90元， 最高触及17.31元，最低下探至16.86元，成交量为7.40万手，成交额达1.27亿元。 龙源电力属于电力行业，业务涵盖风电、光伏等可再生能源的开发与运营。公司是国内领先的新能源发 电企业之一，致力于推动清洁能源发展。 数据显示，7月30日龙源电力主力资金净流入267.89万元。 风险提示：市场有风险，投资需谨慎。 本文源自：金融界 作者：A股君 ...

Investment Rating - The report maintains an "Overweight" rating for the renewable energy generation industry, indicating a positive outlook for high-quality development driven by multiple factors [1]. Core Insights - The renewable energy generation industry is expected to experience high-quality development due to the implementation of market-oriented reforms by the National Development and Reform Commission and the National Energy Administration [2][15]. - The capacity for renewable energy consumption is set to improve with initiatives such as the construction of smart microgrid projects and shared energy storage stations [2][23]. - The completion of ultra-high voltage power grids will facilitate the long-distance transmission of electricity, enhancing the consumption of renewable energy [2][27]. - Continuous efforts to address historical subsidy arrears are anticipated to improve the accounts receivable situation for renewable energy companies [2][28]. Summary by Sections 1. Building a New Energy System to Support Renewable Energy Development - The construction of a new energy system is progressing steadily, with significant goals set for renewable energy capacity by 2025 [9]. - Policy support is expected to promote high-quality development in the renewable energy sector, with a focus on large-scale wind and solar projects [11][12]. 2. Multiple Factors Enhancing Efficiency in the Renewable Energy Generation Industry - A series of measures are anticipated to enhance the capacity for renewable energy consumption, including the establishment of intelligent microgrids and virtual power plants [2][24]. - The ongoing resolution of subsidy arrears is expected to positively impact the financial health of renewable energy companies [2][28]. 3. Investment Recommendations and Key Company Analysis - The report suggests focusing on companies such as Three Gorges Energy, Longyuan Power, Xintian Green Energy, and Solar Energy, which are well-positioned to benefit from the industry's growth [2][36]. - Three Gorges Energy is recognized for its significant installed capacity in wind and solar energy, maintaining a leading position in the offshore wind sector [38][39]. - Longyuan Power is noted for its large-scale project development and innovative technologies in the renewable energy space [40][41]. - Xintian Green Energy is expanding its wind resource reserves and enhancing its natural gas business, indicating robust growth potential [43][44]. - Solar Energy leverages its central enterprise brand advantage and resource strengths to provide comprehensive solar solutions [45][46].

Group 1 - The A-share power sector experienced a significant rally, with Huaneng International hitting the daily limit up [1] - Other companies such as Huadian International, Datang Power, Guodian Power, Longyuan Power, and China General Nuclear Power also saw increases in their stock prices [1]