Major Events - GuoXia Technology (02655) plans to conduct an IPO from December 8 to December 11, offering 33.85 million H-shares and introducing cornerstone investors such as Huikai Hong Kong [1] - Basilea Pharmaceutica AG (02616) has its drug Pujihua® (Pralsetinib Capsules) included in the National Medical Insurance Directory for 2025 [1] - Four Seasons Pharmaceutical (00460) sees its innovative drug XuanYueNing® included in the National Basic Medical Insurance Drug List for the first time [1] - Shanghai Pharmaceuticals (02607) successfully negotiates and includes Amisulpride Orally Disintegrating Tablets in the National Medical Insurance Directory [1] - Hansoh Pharmaceutical (03692) has its innovative drug Amelotex® approved for two new indications in the updated 2025 National Medical Insurance Directory [1] - Xiansheng Pharmaceutical (02096) sees EnzeShu® and EnDu® included in the updated National Medical Insurance Drug List [1] - Hutchison China MediTech (00013) has its drug Tazverik® included in the first edition of the National Commercial Health Insurance Innovative Drug List [1] - XuanZhu Biotechnology (02575) has its innovative drug XuanYueNing® included in the National Basic Medical Insurance Drug List for the first time [1] - Yino Pharmaceutical (02591) has its H-shares included in the list of eligible securities for the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect [1] - China Metallurgical Group (01618) and its subsidiaries plan to sell non-core business assets for approximately 60.68 billion yuan, focusing on core businesses in metallurgical engineering, non-ferrous metals, and mining engineering [1] - Cambridge Technology (06166) intends to invest a total of 405 million yuan to acquire and subscribe for shares in the Yangzhong Happiness Home Venture Capital Partnership Fund [1] Operating Performance - Dongfeng Motor Group (00489) reports cumulative automobile sales of 1.697 million units in the first 11 months, a year-on-year decrease of approximately 0.3% [2] - New天绿色能源 (00956) achieves a cumulative power generation of 1,336.89 million MWh in the first 11 months, an increase of 8.04% year-on-year [2] - Longyuan Power (00916) reports a cumulative power generation of approximately 6,909.64 million MWh in the first 11 months, a year-on-year growth of 0.41% [2] - Baolong Real Estate (01238) records a total contract sales of approximately 6.666 billion yuan in the first 11 months, a year-on-year decline of 43.2% [2]

龙源电力（001289）(00916)公布，近日，公司收到控股股东国家能源集团转发的国务院国有资产监督 管理委员会《国务院国资委关于龙源电力集团股份有限公司非公开发行A股股份有关事项的批复》(国 资产权[2025]510号)，国务院国资委已原则同意公司非公开发行A股股份的总体方案。 ...

智通财经APP讯，龙源电力(00916)公布，近日，公司收到控股股东国家能源集团转发的国务院国有资产 监督管理委员会《国务院国资委关于龙源电力集团股份有限公司非公开发行A股股份有关事项的批复》 (国资产权[2025]510号)，国务院国资委已原则同意公司非公开发行A股股份的总体方案。 ...

Core Viewpoint - Longyuan Power (00916.HK) has received preliminary approval from the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) for its non-public issuance of A-shares [1] Group 1: Company Announcement - The company announced that it has received a notice from its controlling shareholder, the State Energy Group, regarding the SASAC's approval of the overall plan for the non-public issuance of A-shares [1] - The issuance plan requires approval from the company's shareholders' meeting, review by the Shenzhen Stock Exchange, and registration approval from the China Securities Regulatory Commission before implementation [1] - The company will fulfill its information disclosure obligations in a timely manner based on the progress of this matter [1]

Investment Rating - The report provides a positive investment outlook for various sectors within the energy industry, particularly highlighting opportunities in hydropower, thermal power, nuclear power, green energy, and gas companies [11][13]. Core Insights - The mechanism electricity pricing results across multiple regions are approaching their upper limits, indicating strong demand and government support for renewable energy projects [4][7]. - Natural gas prices in Europe are declining, while U.S. gas prices have reached a new high for 2023, driven by increased heating demand due to cold weather [13][20]. - The report emphasizes the importance of operational efficiency in renewable energy projects, as profitability varies significantly across different regions [10][11]. Summary by Sections 1. Electricity Pricing - Recent mechanism electricity pricing results show that several regions, including Hebei and Ningxia, have prices close to the upper limits, reflecting strong demand and sufficient mechanism electricity indicators [4][8]. - The competitive pricing results indicate a disparity based on local consumption capacity and policy direction, with some provinces achieving significantly lower prices due to weaker demand [9][10]. 2. Natural Gas Market - U.S. Henry Hub spot prices reached $5.19/mmBtu, marking a 12.91% increase week-on-week, while European gas prices, such as the TTF, have seen a decline [13][20]. - The report notes a 1.3% year-on-year decrease in China's natural gas consumption in October, with expectations for growth in the upcoming winter months due to heating demand [30][32]. 3. Investment Recommendations - Hydropower: Favorable conditions for winter and spring generation, with recommendations for companies like Yangtze Power and Guodian Power [11]. - Thermal Power: Companies with diversified income sources are recommended, including Guodian Power and Inner Mongolia Huadian [11]. - Nuclear Power: Continued growth expected with new approvals, suggesting a focus on China Nuclear Power and China General Nuclear Power [11]. - Green Energy: Increased stability in project returns with recommendations for companies like Xintian Green Energy and Longyuan Power [11]. - Gas Companies: Recommendations include Kunlun Energy and New Hope Energy, benefiting from cost reductions and improved profitability [32].

龙源电力（001289）(00916)公布，该集团2025年11月按合并报表口径完成发电量6,944,492兆瓦时，较 2024年同期同比增长14.34%。本月风电发电量同比增长10.79%，光伏发电量同比增长43.06%。 截至2025年11月30日，该公司2025年累计完成发电量69,096,371兆瓦时，较2024年同期同比增长 0.41%，剔除火电影响同比增长12.07%，其中风电同比增长4.17%，光伏同比增长72.42%。 ...

格隆汇12月8日丨龙源电力(00916.HK)公告，2025年11月按合并报表口径完成发电量6,944,492兆瓦时， 较2024年同期同比增长14.34%。本月风电发电量同比增长10.79%，光伏发电量同比增长43.06%。 截至2025年11月30日，公司2025年累计完成发电量69,096,371兆瓦时，较2024年同期同比增长0.41%， 剔除火电影响同比增长12.07%，其中风电同比增长4.17%，光伏同比增长72.42%。 ...

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。 本公告僅供參考，並不構成收購、購買或認購本公司證券的邀請或要約， 亦 非 在 任 何 司 法 管 轄 區 招 攬 任 何 投 票 權 或 批 准。本 公 告 全 部 或 部 分 不 得在、向或從任何將構成違反其適用法律或法規的司法管轄區域內發佈、 刊 發 或 分 發。 關於向特定對象發行A股股票有關事項獲得 國務院國資委批覆的公告 本公司本次向特定對象發行A股股票方案尚需經本公司股東會審議通過， 經深圳證券交易所審核通過並經中國證券監督管理委員會同意註冊後 方 可 實 施。本 公 司 將 根 據 該 事 項 的 進 展 情 況，及 時 履 行 信 息 披 露 義 務。 – 1 – 股 東 及 潛 在 投 資 者 於 買 賣 本 公 司 證 券 時 務 請 審 慎 行 事。 特 此 公 告。 承董事會命 龍源電力集團股份有限公司* 茲 提 ...

Core Viewpoint - Longyuan Power (00916) reported a significant increase in power generation for the year ending November 2025, with a total of 6,944,492 MWh, representing a year-on-year growth of 14.34% compared to the same period in 2024 [1] Group 1: Power Generation Performance - The total cumulative power generation for Longyuan Power as of November 30, 2025, reached 69,096,371 MWh, which is a 0.41% increase year-on-year compared to 2024 [1] - Excluding the impact of thermal power, the year-on-year growth in power generation is 12.07%, with wind power increasing by 4.17% and solar power surging by 72.42% [1] Group 2: Monthly Performance - In the current month, wind power generation increased by 10.79% year-on-year, while solar power generation saw a remarkable growth of 43.06% [1]

公 告 二零二五年十一月發電量 本公告乃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。 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的內 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 不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 承董事會命 龍源電力集團股份有限公司 宮宇飛 董事長 龍 源 電 力 集 團 股 份 有 限 公 司（以 下 簡 稱「本公司」，連 同 其 附 屬 公 司 合 稱「本 集 團」）2025年11月按合併報表口徑完成發電量6,944,492兆 瓦 時，較2024年 同期同比增长14.34%。本月風電發電量同比增长10.79%，光 伏 發 電 量 同 比增長43.06%。 截 至2025年11月30日，本 公 司2025年累計完成發電量69,096,371兆 瓦 時， 較2024年同期同比增长0.41%，剔除火電影響同比增長12.07%，其 中 ...