Core Viewpoint - Longyuan Power (00916.HK) has successfully completed the issuance of super short-term financing bonds totaling RMB 2.6 billion, with a maturity of 29 days and an interest rate of 1.65% [1] Group 1: Financing Details - The total amount raised from the super short-term financing bonds is RMB 2.6 billion [1] - The bonds have a maturity period of 29 days, with interest starting to accrue from December 18, 2025 [1] - The funds raised will be used to supplement daily working capital and repay interest-bearing debts of the issuer and its subsidiaries [1] Group 2: Stock Performance - As of the market close on December 18, 2025, Longyuan Power's stock price was HKD 6.64, reflecting a decrease of 0.3% [1] - The trading volume was 7.67 million shares, with a total transaction value of HKD 50.80 million [1] Group 3: Analyst Ratings - The majority of investment banks maintain a "buy" rating for Longyuan Power, with two banks issuing buy ratings in the last 90 days [1] - The average target price over the last 90 days is HKD 9.26 [1] - The latest report from Xingzheng International gives Longyuan Power an "accumulate" rating [1] Group 4: Market Position - Longyuan Power has a market capitalization of HKD 22.10 billion, ranking 7th in the power industry [1]

Core Viewpoint - Longyuan Power (001289)(00916) has successfully completed the issuance of super short-term financing bonds totaling RMB 2.6 billion, aimed at enhancing liquidity and repaying debts [1] Group 1: Financing Details - The total amount of the super short-term financing bonds issued is RMB 2.6 billion [1] - The bonds have a maturity period of 29 days and a face value of RMB 100 each [1] - The coupon rate for the bonds is set at 1.65%, with interest starting to accrue from December 18, 2025 [1] Group 2: Purpose of Funds - The funds raised from the bond issuance will be used to supplement the company's daily working capital [1] - Additionally, the funds will be allocated for repaying interest-bearing debts of the issuer and its subsidiaries [1]

智通财经APP讯，龙源电力(00916)发布公告，公司已于2025年12月17日完成公司超短期融资券发行。本 超短期融资券发行总额为人民币26亿元，期限为29天，单位面值为人民币100元，票面利率为1.65%。 利息自2025年12月18日起开始计算。本超短期融资券所募集资金将用于补充日常流动资金及偿还发行人 及其子公司有息债务。 ...

格隆汇12月18日丨龙源电力(00916.HK)公告，公司已于2025年12月17日完成公司超短期融资券(「本超 短期融资券」)发行。本超短期融资券发行总额为人民币26亿元，期限为29天，单位面值为人民币100 元，票面利率为1.65%。利息自2025年12月18日起开始计算。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之 任 何 損 失 承 擔 任 何 責 任。 承董事會命 公 告 完成發行超短期融資券 本 公 告 乃 由 龍 源 電 力 集 團 股 份 有 限 公 司（「本公司」）根 據《香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則》第13.09條及香港法例第571章《證 券 及 期 貨 條 例》 第XIVA部 項 下 內 幕 消 息 條 文 作 出。 茲提述本公司日期為2025年6月17日關於本公司股東批准發行債務融資 工具的本公司2024年 度 股 東 大 會 投 票 結 果 的 公 告。 本公司已於2025年12月17日 完 成 本 公 司 超 短 期 融 資 券（「本超短期融資券」） 發 行。本 超 短 期 融 資 券 發 行 總 額 為 人 民 幣26億 元，期 限 為29天，單 位 面 值為人民幣100元，票面利率為1.65%。利息自2025年12月18日起開 ...

公司已于 2025 年 12 月 17 日发行了 2025 年度第十三期超短期融资券，所募 集资金将用于补充日常流动资金及偿还发行人及其子公司有息债务。相关发行情 况如下： | 超短期融资券全称 | 龙源电力集团股份有限公司 | | | 2025 | | 年度第十三期超短期融资券 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 主承销商 | 中国民生银行股份有限公司 | | | | | | | | | | 超短期融资券简称 | 25 龙源电力 | | SCP013 | 期限 | 29 天 | | | | | | 超短期融资券代码 | 012583098 | | | 发行日 | 2025 | 年 | 12 月 | 17 | 日 | | 起息日 | 2025 12 月 日 | 年 | 18 | 兑付日 | 2026 | 年 1 | 月 | 16 | 日 | | 计划发行总额 | 亿元人民币 45 | | | 实际发行总额 | 26 | 亿元人民币 | | | | | 发行价格 | 100 元/张 | | | 票面利率 ...

Group 1 - The Shanghai Composite Index rose by 0.16% to close at 3876.37 points, while the Hang Seng Index increased by 0.12% to 25498.13 points [1] - Longyuan Power's A/H premium reached 151.78%, ranking 16th among A/H stocks [1] - Longyuan Power's A-shares closed at 15.13 yuan with a 0.2% increase, while H-shares closed at 6.64 HKD with a 0.3% decrease [1] Group 2 - Longyuan Power Group Co., Ltd. was established in 1993 and has undergone several ownership changes, currently under the State Energy Group [1] - The company successfully listed on the Hong Kong main board in 2009 and is recognized as "China's first new energy stock" [1] - In 2022, Longyuan Power officially listed on the A-share market, marking several firsts in the industry, including being the first H-share new energy power central enterprise to return to A-shares [1] - Longyuan Power is a pioneer in wind power development in China, leading in offshore, low-wind-speed, and high-altitude wind power sectors, and has maintained its position as the world's largest wind power operator since 2015 [1]

本报讯 （记者 华钰） 12月15日，我国离岸距离最远海上风电项目——三峡江苏大丰800兆瓦海上风电 项目实现全容量并网。项目预计年均发电量可满足140万户家庭日常用电需求，相当于节约标准煤约86 万吨，减少二氧化碳排放约237万吨。 项目由三峡集团投资建设，是江苏省首批海上风电平价上网示范项目之一，位于盐城市大丰区东北海 域，由四个场址组成，共安装98台风机，总装机容量800兆瓦。项目H8-1号场址中心点离岸距离80千 米，最远点离岸距离85.5千米，刷新我国海上风电项目离岸距离的纪录。 "我们克服了离岸距离远、施工窗口期短、海上作业难度大等多重挑战，从全面开工到全容量并网历时 不足10个月，为后续深远海风电项目开发提供了可复制、可推广的技术路径与工程经验。"三峡集团江 苏分公司盐城公司负责人刘宇说。 项目建成国内首个搭载气象雷达的海上升压站，可通过海洋气象精细化监测系统为风机优化调度、设备 安全运维提供实时支撑。项目投运的一台13.6兆瓦风电机组，刷新江苏海域海上风机单机容量纪录。该 机组叶轮直径达252米，机组每转一圈可发出清洁电能约29千瓦时，每年可输出清洁电能超4650万千瓦 时。 ...

Group 1: Core Insights - The future narrative for thermal power is expected to shift towards enhanced profitability stability and increased dividends due to rising capacity prices and deeper assessments by the State-owned Assets Supervision and Administration Commission (SASAC) [2][60] - In the short term, integrated coal power companies are likely to have a comparative advantage as coal prices rise, with a consensus forming around an increase in the coal price baseline for next year [2][6] - Renewable energy companies, despite facing challenges such as supply-demand imbalance and subsidy delays, have shown considerable absolute returns, supported by improving policies for green energy development [6][8] Group 2: Thermal Power Analysis - Historical performance of thermal power shows a certain "counter-cyclical" nature, with earnings often moving inversely to coal prices, which are now market-driven [19][26] - The current policy framework limits the duration of profitability expectations for thermal power, leading to a "high first, low second" characteristic in the market for 2023 and 2024 [6][45] - The expected increase in capacity prices across provinces by 2026 will enhance the fixed cost recovery ability of coal power plants, significantly improving profitability stability [60][64] Group 3: Renewable Energy Insights - The renewable energy sector is currently facing multiple issues, including market price pressure and subsidy delays, but the gradual improvement in policy support is expected to create investment opportunities [6][8] - Companies with low valuations, high wind power ratios, and strong regional price certainty are still worth considering for investment despite the uncertain timing of policy impacts [2][6] Group 4: Hydropower and Nuclear Power - Leading hydropower companies exhibit high earnings certainty and dividend ratios, making them attractive for long-term investment [7] - Nuclear power is anticipated to see significant capacity growth during the 14th Five-Year Plan, with stable long-term price expectations despite some market price fluctuations [8][60] Group 5: Investment Recommendations - Recommended companies include quality thermal power operators such as Huaneng International, Datang Power, and China Power, as well as leading hydropower firms like Yangtze Power and Guotou Power [9] - In the renewable sector, companies like Longyuan Power and China Nuclear Power are highlighted as potential investment opportunities [9]

Group 1 - A new company, Chongqing Wanzhou Wanxiang Longyuan New Energy Co., Ltd., has been established with a registered capital of 50 million yuan [1] - The legal representative of the new company is Zhang Bo, and its business scope includes power generation, power transmission, power supply (distribution) services, energy storage technology services, and Internet of Things technology services [1] - The company is wholly owned by Longyuan Power (001289) [1]