SEP(SH:600021) Ge Long Hui A P P·2026-01-16 09:52Core Viewpoint - Shanghai Electric (600021.SH) reported an increase in total power generation for the year 2025, driven primarily by growth in clean energy generation capacity and output [1] Group 1: Power Generation Data - The company achieved a total power generation of 78.232 billion kWh in 2025, representing a year-on-year increase of 1.41% [1] - Coal power generation was 51.006 billion kWh, down 1.87% year-on-year, while gas power generation fell by 14.23% to 7.804 billion kWh [1] - Wind power generation increased by 19.06% to 11.509 billion kWh, and solar power generation rose by 23.58% to 7.913 billion kWh [1] - The total on-grid electricity volume was 74.979 billion kWh, up 1.49% year-on-year, with an average on-grid electricity price (including tax) of 0.58 yuan per kWh [1] - Market transaction settlement electricity volume reached 57.792 billion kWh [1] Group 2: Installed Capacity and Clean Energy - As of December 31, 2025, the company's total installed capacity was 26.3213 million kW, with clean energy accounting for 62.59% of the total capacity [1] - The breakdown of installed capacity includes coal power at 9.848 million kW (37.41%), gas power at 3.8251 million kW (14.53%), wind power at 5.3981 million kW (20.51%), and solar power at 7.2501 million kW (27.55%) [1]