Market Overview - On January 30, the environmental equipment sector rose by 0.09% compared to the previous trading day, with Hengyu Environmental leading the gains [1] - The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1] Stock Performance - Hengying Environmental (688309) closed at 31.60, up 12.06% with a trading volume of 58,100 shares and a transaction value of 175 million yuan [1] - Other notable performers included Meiyu Technology (688376) with a closing price of 69.02, up 2.77%, and Lihua Technology (300800) at 12.69, up 2.59% [1] - The table of stock performance shows various companies in the environmental equipment sector with their respective closing prices, percentage changes, trading volumes, and transaction values [1] Capital Flow - The environmental equipment sector experienced a net outflow of 124 million yuan from institutional investors, while retail investors saw a net inflow of 151 million yuan [2] - The capital flow table indicates the net inflow and outflow for various stocks within the sector, highlighting the dynamics between institutional and retail investors [2][3] Individual Stock Analysis - Yinfeng Environment (000967) had a net inflow of 28.08 million yuan from institutional investors, while Hengying Environmental (688309) saw a net inflow of 18.60 million yuan [3] - Conversely, Huahong Technology (002645) faced a significant decline of 10.00%, with a trading volume of 323,900 shares and a transaction value of 507 million yuan [2][3]

证券代码：300105 证券简称：龙源技术 烟台龙源电力技术股份有限公司 投资者关系活动记录表 | 编号：2026-01 | | --- | 1 | | 能源结构。目前火电机组改造已从初期的"三改联动"逐步过度到"新一代煤 | | --- | --- | | | 电技术应用"阶段，改造目标更聚焦于低碳技术、提高能效和灵活智能，改造 | | | 复杂度不断提升。并且，火电也从单一的发电向综合能源服务延伸，频繁参与 | | | 调峰、调频、辅助服务及供热，获取收益。这也要求环保设备供应商，能提供 | | | 更加清洁化、灵活化、综合化和智慧化的综合能源改造方案。 | | | 问：公司海外市场拓展有哪些进展？ | | | 答：2025 年，公司签约南非国家电力公司等离子和微油示范项目。并且南非分 | | | 公司完成属地注册已具备运营承接项目的资质和条件。 | | | 问：公司未来增长动力表现在哪些方面？ | | | 答：公司未来增长动力将围绕"技术创新+市场拓展+新兴赛道布局"多维发力。 | | | 一是熔盐储能、电极锅炉等储能、储热业务加速拓展，加大客户交流，争取打 | | | 开增量空间。二是巩固竞争优势，推 ...

本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 烟台龙源电力技术股份有限公司（以下简称"公司"）第六届董事会第十五次会议审议通过《关于召 开 2026 年第一次临时股东会的议案》。定于 2026 年 02 月 09 日（周一）下午 14:30 在烟台经济技术开 发区白云山路 2 号公司本部会议室召集召开 2026 年第一次临时股东会。会议投票方式为现场投票和网 络投票相结合。股权登记日为 2026 年 02 月 02 日（周一）下午收市时。公司已于 2026 年 01 月 24 日在 巨潮资讯网（www.cninfo.com.cn）上发布了《关于召开 2026 年第一次临时股东会的通知》，现将会议 有关事项再次提示如下： 一、召开会议的基本情况 1、股东会届次：2026 年第一次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所创业板股票上市规则》 《深圳证券交易所上市公司自律监管指引第 2 号—创业板上市公司规范运作》等法律、行政法规、部门 规章、规范性文件及《公司章程》的有关规定。 4、会议时间： ...

1. Report Industry Investment Rating - The investment rating for the utilities industry is "Bullish" [2] 2. Core Viewpoints of the Report - The power sector is expected to see improved profitability and value re - evaluation after multiple rounds of power supply - demand contradictions. Coal - fired power's peak - shaving value is prominent, electricity prices may rise slightly, and the cost of coal - fired power enterprises is controllable. The performance of power operators is likely to improve significantly. For the natural gas sector, with the decline in upstream gas prices and the recovery of domestic consumption, the urban gas business can achieve stable gross margins and high growth in sales volume. Traders with low - cost long - term contract gas sources and receiving terminal assets may increase profits [5][98] 3. Summary by Relevant Catalogs 3.1 This Week's Market Performance - As of January 23rd, the utilities sector rose 2.3%, outperforming the market (CSI 300 fell 0.6% to 4,702.50). The top three industries in terms of gains and losses were building materials (9.2%), petroleum and petrochemicals (7.7%), and steel (7.3%), while the bottom three were banks (-2.7%), communications (-2.1%), and non - bank finance (-1.5%) [12] - The power sector rose 1.72%, and the gas sector rose 7.21%. Among sub - industries, thermal power generation rose 2.71%, hydropower generation fell 0.89%, nuclear power generation rose 0.33%, thermal services rose 2.09%, comprehensive power services rose 4.56%, photovoltaic power generation rose 7.21%, and wind power generation rose 2.82% [14] - In the power sector, the top three gainers were Nanwang Energy (16.26%), Shanghai Electric Power (11.95%), and Zhongmin Energy (7.76%); the bottom three were Yangtze Power (-1.96%), Huaneng Power International (-1.47%), and Huaneng Hydropower (-0.87%). In the gas sector, the top three gainers were Zhongtai Co., Ltd. (23.02%), Jiufeng Energy (14.70%), and Furan Energy (13.15%); the bottom three were Shuifa Gas (0.00%), ENN Energy (1.45%), and Dazhong Public Utilities (2.26%) [17] 3.2 Power Industry Data Tracking 3.2.1 Thermal Coal Prices - In January, the annual long - term contract price of Qinhuangdao Port thermal coal (Q5500) was 684 yuan/ton, a month - on - month decrease of 10 yuan/ton. As of January 23rd, the market price of Shanxi - produced thermal coal (Q5500) at Qinhuangdao Port was 686 yuan/ton, a week - on - week decrease of 11 yuan/ton [23] - As of January 23rd, the pit - mouth price of Shaanxi Yulin thermal lump coal (Q6000) was 770 yuan/ton, a week - on - week decrease of 15 yuan/ton; the pit - mouth price (tax - included) of Datong南郊 coking coal (Q5500) was 626.08 yuan/ton, a week - on - week decrease of 1.82 yuan/ton; the wagon - loading price of Inner Mongolia Dongsheng large - sized clean coal (Q5500) was 564 yuan/ton, a week - on - week decrease of 5 yuan/ton [23] - As of January 22nd, the FOB spot price of Newcastle NEWC 5500 kcal thermal coal was 73.55 US dollars/ton, a week - on - week increase of 0.05 US dollars/ton; the ARA 6000 kcal thermal coal spot price was 101.5 US dollars/ton, a week - on - week increase of 4.80 US dollars/ton; the Richards Bay thermal coal FOB spot price was 80 US dollars/ton, a week - on - week increase of 3.95 US dollars/ton. As of January 23rd, the Newcastle NEWC index price was 108.4 US dollars/ton, a week - on - week increase of 1.2 US dollars/ton. The ex - warehouse price of Indonesian coal (Q5500) at Guangzhou Port was 731.9 yuan/ton, a week - on - week decrease of 3.81 yuan/ton; the ex - warehouse price of Australian coal (Q5500) at Guangzhou Port was 737.15 yuan/ton, a week - on - week decrease of 3.36 yuan/ton [26] 3.2.2 Thermal Coal Inventory and Power Plant Daily Consumption - As of January 23rd, the coal inventory at Qinhuangdao Port was 582 tons, a week - on - week increase of 32 tons [30] - As of January 22nd, the coal inventory of 17 inland provinces was 9,010.4 tons, a week - on - week decrease of 290.3 tons (3.12%); the daily consumption of power plants in 17 inland provinces was 445.9 tons, a week - on - week increase of 33.7 tons/day (8.18%); the available days were 20.2 days, a decrease of 2.4 days compared to last week [32] - As of January 22nd, the coal inventory of 8 coastal provinces was 3,299.4 tons, a week - on - week decrease of 49.5 tons (1.48%); the daily consumption of power plants in 8 coastal provinces was 241.7 tons, a week - on - week increase of 23.9 tons/day (10.97%); the available days were 13.7 days, a decrease of 1.7 days compared to last week [32] 3.2.3 Hydropower Inflow Situation - As of January 23rd, the Three Gorges outbound flow was 9,180 cubic meters per second, a year - on - year increase of 13.05%, and flat week - on - week [45] 3.2.4 Key Power Market Transaction Electricity Prices - In the Guangdong day - ahead spot market, as of January 16th, the weekly average price was 349.15 yuan/MWh, a week - on - week increase of 10.85% and a year - on - year decrease of 6.2%. In the real - time spot market, the weekly average price was 291.58 yuan/MWh, a week - on - week decrease of 0.83% and a year - on - year decrease of 22.2% [52] - In the Shanxi day - ahead spot market, as of January 22nd, the weekly average price was 377.70 yuan/MWh, a week - on - week increase of 253.77% and a year - on - year increase of 15.9%. In the real - time spot market, the weekly average price was 385.26 yuan/MWh, a week - on - week increase of 194.3% and a year - on - year increase of 7.5% [59] - In the Shandong day - ahead spot market, as of January 18th, the weekly average price was 221.85 yuan/MWh, a week - on - week increase of 9.59% and a year - on - year decrease of 15.4%. In the real - time spot market, the weekly average price was 275.45 yuan/MWh, a week - on - week increase of 50.11% and a year - on - year increase of 11.9% [60] 3.3 Natural Gas Industry Data Tracking 3.3.1 Domestic and International Natural Gas Prices - As of January 23rd, the national index of LNG ex - factory prices at the Shanghai Oil and Gas Trading Center was 3,992 yuan/ton (about 2.85 yuan/cubic meter), a year - on - year decrease of 7.44% and a month - on - month increase of 3.72%. In November 2025, the average import price of domestic LNG was 490.97 US dollars/ton (about 2.48 yuan/cubic meter), a year - on - year decrease of 17.25% and a month - on - month increase of 2.80%. As of January 23rd, the CIF price of imported LNG in China was 11.32 US dollars/million British thermal units (about 2.93 yuan/cubic meter), a year - on - year decrease of 19.80% and a month - on - month increase of 9.58% [58] - As of January 21st, the European TTF spot price was 13.79 US dollars/million British thermal units, a year - on - year decrease of 10.3% and a week - on - week increase of 21.0%; the US HH spot price was 4.98 US dollars/million British thermal units, a year - on - year increase of 12.9% and a week - on - week increase of 68.8%; the Chinese DES spot price was 10.6 US dollars/million British thermal units, a year - on - year decrease of 22.6% and a week - on - week increase of 6.5% [61] 3.3.2 EU Natural Gas Supply, Demand, and Inventory - In the third week of 2026, the EU's natural gas supply was 6.34 billion cubic meters, a year - on - year increase of 14.8% and a week - on - week increase of 4.6%. Among them, LNG supply was 3.21 billion cubic meters, a week - on - week increase of 12.6%, accounting for 50.6% of the natural gas supply; imported pipeline gas was 3.13 billion cubic meters, a year - on - year increase of 4.2% and a week - on - week decrease of 2.6%. From January to March 2026, the EU's cumulative natural gas supply was 18.28 billion cubic meters, a year - on - year increase of 11.2% [65] - In the fourth week of 2026, the EU's natural gas inventory was 54.489 billion cubic meters, a year - on - year decrease of 14.60% and a week - on - week decrease of 4.45%. As of January 21st, 2026, the EU's natural gas inventory level was 47.6% [73] - In the third week of 2026, the EU's estimated natural gas consumption was 11.82 billion cubic meters, a week - on - week increase of 0.8% and a year - on - year increase of 6.2%. From January to March 2026, the EU's estimated cumulative natural gas consumption was 33.49 billion cubic meters, a year - on - year increase of 13.4% [75] 3.3.3 Domestic Natural Gas Supply and Demand - In November 2025, the apparent domestic natural gas consumption was 36.28 billion cubic meters, a year - on - year increase of 4.1%. From January to November 2025, the cumulative apparent domestic natural gas consumption was 388 billion cubic meters, a cumulative year - on - year decrease of 0.1% [78] - In December 2025, the domestic natural gas production was 22.98 billion cubic meters, a year - on - year increase of 5.4%. The LNG import volume was 8.48 million tons, a year - on - year increase of 18.8% and a month - on - month increase of 22.2%. The PNG import volume was 4.97 million tons, a year - on - year increase of 12.7% and a month - on - month decrease of 0.8%. From January to December 2025, the cumulative domestic natural gas production was 261.89 billion cubic meters, a cumulative year - on - year increase of 6.3%. The cumulative LNG import volume was 68.43 million tons, a cumulative year - on - year decrease of 10.7%. The cumulative PNG import volume was 59.43 million tons, a cumulative year - on - year increase of 8.0% [79] 3.4 This Week's Industry News 3.4.1 Power Industry - Related News - In December 2025, the power generation of above - scale industrial enterprises was 858.6 billion kWh, a year - on - year increase of 0.1%. From January to December 2025, it was 9,715.9 billion kWh, a year - on - year increase of 2.2%. In December 2025, the decline of thermal power narrowed, and the growth rates of hydropower, nuclear power, wind power, and solar power generation slowed down [87] - Facing the severe test of winter power supply, the national energy system took multiple measures to ensure stable supply. After winter 2026, the national electricity load increased rapidly, exceeding 1.4 billion kilowatts for the first time on January 20th, reaching 1.417 billion kilowatts and setting three consecutive winter records. The daily electricity consumption also exceeded 30 billion kWh for the first time in winter, reaching 30.47 billion kWh on January 19th [87] 3.4.2 Natural Gas Industry - Related News - From January to December 2025, the natural gas production of above - scale industrial enterprises was 261.9 billion cubic meters, a year - on - year increase of 6.2%. In December, the production was 23 billion cubic meters, a year - on - year increase of 5.1% [88] 3.5 This Week's Important Announcements - Shenergy Co., Ltd.: In 2025, the power generation of its controlled power plants was 57.654 billion kWh, a year - on - year decrease of 1.7%. The on - grid electricity was 55.376 billion kWh, with an average on - grid electricity price of 0.494 yuan/kWh (tax - included). In the fourth quarter of 2025, it added 2.0672 million kilowatts of controlled installed capacity. As of the end of 2025, its controlled installed capacity was 20.6611 million kilowatts, a year - on - year increase of 15.1% [89] - Shanghai Electric Power Co., Ltd.: From January to December 2025, its combined power generation was 78.232 billion kWh, a year - on - year increase of 1.41%. The on - grid electricity was 74.979 billion kWh, a year - on - year increase of 1.49%. The average on - grid electricity price was 0.58 yuan/kWh. As of the end of December 2025, its controlled installed capacity was 26.3213 million kilowatts, and clean energy accounted for 62.59% of the installed capacity [90] - Hubei Energy Group Co., Ltd.: As of the end of 2025, its total assets were 100.081 billion yuan, a year - on - year increase of 1.83%. The attributable net profit was 1.896 billion yuan, a year - on - year increase of 4.51% [91] - SDIC Power Holdings Co., Ltd.: From October to December 2025, the power generation of its controlled enterprises was 33.142 billion kWh, and the on - grid electricity was 32.229 billion kWh, a year - on - year decrease of 14.22% and 14.43% respectively. From January to December 2025, the power generation was 158.093 billion kWh, and the on - grid electricity was 154.209 billion kWh, a year - on - year decrease of 8.12% and 8.06% respectively. In the fourth quarter, it added 2.1471 million kilowatts of controlled installed capacity. As of the end of the fourth quarter, its installed controlled capacity was 46.8956 million kilowatts [92] - Guanghui Energy Co., Ltd.: It is estimated that the attributable net profit in 2025 will be between 1.32 billion yuan and 1.47 billion yuan, a year - on - year decrease of 50.03% - 55.13% [93] - Furan Energy Group Co., Ltd.: In 2025, its natural gas supply was 4.931 billion cubic meters, and its operating revenue was 33.754 billion yuan, a year - on -

Core Viewpoint - Longyuan Technology announced a change in its inventory valuation method from "month-end weighted average method" to "moving weighted average method" effective January 1, 2026, which will not have a significant impact on its financial position, operating results, or cash flows, and does not require shareholder approval [2]. Group 1 - The company will implement the new inventory valuation method starting January 1, 2026 [2]. - The change will be applied prospectively, meaning there will be no retrospective adjustments to prior year financial statements [2]. - The company stated that this change will not have a significant impact on its financial condition, operating results, or cash flows [2].

Core Viewpoint - Longyuan Technology (300105.SZ) has signed two BOT project contracts with Guoneng Ningxia Lingwu Power Co., Ltd., which require re-evaluation due to the duration exceeding three years [1][2] Group 1: Contract Details - The contracts signed include the "Emergency Heat Source and Peak Regulation Project" and the "Electric Steam Boiler Project," with signing dates of January 19, 2023, and August 20, 2024, respectively [1] - The contracts were approved in the 12th and 19th meetings of the fifth board of directors [1] Group 2: Board and Shareholder Approval - The sixth board meeting approved the re-evaluation of the BOT contracts with a unanimous vote of 6 in favor, with no opposition or abstentions [2] - Related directors, including Ma Liqiu, Wu Yong, and Liu Yong, recused themselves from the vote, and the proposal has been reviewed by independent directors [2] - The proposal will be submitted to the shareholders' meeting for approval, with related shareholders required to abstain from voting [2]

证券代码：300105 证券简称：龙源技术 公告编号：临 2026-006 烟台龙源电力技术股份有限公司 关于重新审议公司与国能宁夏灵武发电有限公司签 署的 BOT 合同暨关联交易的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 一、关联交易概述 1.烟台龙源电力技术股份有限公司（以下简称"公司"）与国能宁 夏灵武发电有限公司（以下简称"灵武公司"）分别于 2023 年 1 月 19 日和 2024 年 8 月 20 日签署《国能宁夏灵武发电有限公司新建银川供 热应急热源及调峰项目 BOT 项目合同》与《国能宁夏灵武发电有限 公司电蒸汽锅炉项目 BOT 项目合同》。上述两项合同分别经第五届董 事会第十二次会议、第五届董事会第十九次会议审议通过。 根据《深圳证券交易所创业板股票上市规则（2025年修订）》7.2.15 条有关规定，上市公司与关联人签订的日常关联交易协议期限超过三 年的，应当每三年重新履行相关审议程序和披露义务。现需将上述合 同重新进行审议。除因宁夏地区调峰相关政策发生变化签署补充协议 外，上述关联交易协议中其他主要条款未发生变化。 2.本公 ...

董事会认为：公司本次会计政策变更是根据《企业会计 准则第 28 号——会计政策、会计估计变更和差错更正》以 及为提高公司成本核算与 ERP 信息管理系统适配性，结合公 司实际情况进行的合理变更，变更后的会计政策符合财政部 的相关规定；本次变更会计政策对公司财务状况、经营成果 和现金流量无重大影响，亦不涉及对公司以前年度的追溯调 整，不存在损害公司及全体股东特别是中小股东利益的情形。 根据《深圳证券交易所股票上市规则》及《公司章程》等有 关规定，公司本次会计政策变更在董事会审议批准范围内， 无需提交股东会审议。 烟台龙源电力技术股份有限公司董事会 2026 年 1 月 23 日 烟台龙源电力技术股份有限公司董事会 关于会计政策变更合理性的说明 烟台龙源电力技术股份有限公司（以下简称"公司"） 第六届董事会第十五次会议以 9 票赞成、0 票反对、0 票弃 权审议通过《关于会计政策变更的议案》。 ...

证券代码：300105 证券简称：龙源技术 公告编号：临 2026-004 公司存货发出计价方法变更为移动加权平均法，即每次进货后， 立即根据库存存货数量和总成本，计算出新的加权平均单位成本，并 用该单位成本计算发出存货的成本。 烟台龙源电力技术股份有限公司 关于会计政策变更的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 重要内容提示：烟台龙源电力技术股份有限公司（以下简称"公 司"）本次会计政策变更属于自主会计政策变更，采用未来适用法， 不涉及对以前年度财务报表进行追溯调整。本次会计政策变更对公司 财务状况、经营成果和现金流量无重大影响，无需提交公司股东会审 议。 一、会计政策变更概述 随着公司信息化体系建设的深入推进，为提升存货管理水平与管 理效率，同步增强产品成本核算与 ERP 信息管理系统的适配性，结 合公司实际情况和历年来成本核算经验，公司拟变更会计政策，将发 出存货的计价方法由"月末一次加权平均法"变更为"移动加权平均 法"。 （一）变更前采用的会计政策 公司存货发出计价方法采用月末一次加权平均法，即每月月末以 当月全部进货数量加上月初存货 ...

证券代码：300105 证券简称：龙源技术 公告编号：临 2026-005 烟台龙源电力技术股份有限公司 关于召开 2026 年第一次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 一、召开会议的基本情况 1、股东会届次：2026 年第一次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所创业板股票上市规则》 《深圳证券交易所上市公司自律监管指引第 2 号—创业板上市公司规范运作》等法律、行政法规、部门 规章、规范性文件及《公司章程》的有关规定。 4、会议时间： （1）现场会议时间：2026 年 02 月 09 日 14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2026 年 02 月 09 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为 2026 年 02 月 09 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：2 ...