通宝能源：2025年火电发电量降8.58%，风电披露多指标

Core Viewpoint - The announcement from Tongbao Energy indicates a decline in power generation and sales for its wholly-owned thermal power subsidiary, Shanxi Sunshine Power, in the fourth quarter of 2025, while the average on-grid electricity price has increased. Group 1: Thermal Power Performance - In Q4 2025, Shanxi Sunshine Power's power generation was 151,092 million kWh, a year-on-year decrease of 13.73% [1] - The on-grid electricity volume was 136,332 million kWh, down 14.34% year-on-year [1] - The average on-grid electricity price was 395.52 yuan per thousand kWh, an increase of 13.09% year-on-year [1] Group 2: Annual Performance Overview - For the full year 2025, the total power generation was 564,648 million kWh, reflecting a year-on-year decline of 8.58% [1] - The on-grid electricity volume for the year was 509,251 million kWh, down 9.22% year-on-year [1] - The average on-grid electricity price for the year was 380.18 yuan per thousand kWh, which is a 6.94% increase year-on-year [1] - The proportion of market-based trading electricity volume remained at 100%, unchanged from the previous year [1] Group 3: Wind Power Performance - Tongbao Ningwu Clean Energy, the wholly-owned wind power subsidiary, reported a total power generation of 6,768 million kWh for 2025 [1] - The on-grid electricity volume for the wind power subsidiary was 6,637 million kWh [1] - The average on-grid electricity price for the wind power segment was 326.97 yuan per thousand kWh [1]