三峡能源：截至2025年9月末，公司应收账款466亿元，较年初增长4.17%

Core Viewpoint - The company, Three Gorges Energy, reported an increase in accounts receivable, primarily driven by renewable energy price surcharges, and emphasized the importance of timely project settlements in the evolving electricity market [1] Group 1: Financial Performance - As of September 2025, the company's accounts receivable reached 46.6 billion yuan, reflecting a growth of 4.17% compared to the beginning of the year [1] - Over 90% of the accounts receivable is attributed to renewable energy price surcharges [1] Group 2: Market Dynamics - The company is closely monitoring the progress of national fiscal public budget allocations and actively communicating with industry authorities to ensure timely settlements for eligible projects [1] - The relationship between operational indicators and power generation has become more complex, evolving from a simple linear relationship in traditional energy to a multi-factor dynamic coupling in the renewable energy sector [1] Group 3: Influencing Factors - Operational indicators are influenced by multiple internal and external factors, including resource endowment, market policies, business scale, and the development stage of the industry [1]