（文章来源：证券日报） 证券日报网讯 2月2日，三峡能源在互动平台回答投资者提问时表示，截至2025年6月底，公司对金风科 技直接持股比例为9.16%，间接持股比例为5.10%。 ...

证券日报网讯2月2日，三峡能源（600905）在互动平台回答投资者提问时表示，公司积极落实证监会、 国资委关于市值管理工作的要求，围绕价值创造和价值传递两大主线，着力提升公司核心竞争力，同时 不断完善市值管理体系，制定市值管理制度与具体工作方案，建立稳定的分红政策，强化长效机制保 障。 ...

证券日报网讯 2月2日，三峡能源在互动平台回答投资者提问时表示，公司招聘严格按照规定执行。 （文章来源：证券日报） ...

证券日报网讯2月2日，三峡能源（600905）在互动平台回答投资者提问时表示，公司严格执行《公司 法》《证券法》等法律法规，坚持规范运作，不存在联合机构打压自身股票的行为。 ...

证券日报网讯2月2日，三峡能源（600905）在互动平台回答投资者提问时表示，公司高管的考核及薪酬 严格按照公司经理层成员经营业绩考核管理办法及薪酬管理办法等规定执行，高管每年度的薪酬水平均 按规定在年报中进行披露。 ...

（编辑 丛可心） 证券日报网讯 2月2日，三峡能源在互动平台回答投资者提问时表示，公司股权激励严格按照中央企业 控股上市公司实施股权激励工作指引等规定执行；公司高管的考核及薪酬严格按照公司经理层成员经营 业绩考核管理办法及薪酬管理办法等规定执行。控股股东按计划进行增持，公司依法履行披露义务，及 时公告增持进展。 ...

（编辑 丛可心） 证券日报网讯 2月2日，三峡能源在互动平台回答投资者提问时表示，公司2025年前三季度累计发电量 较上年同期增长7.89%，归属于上市公司股东的净利润下降15.31%，随着并网项目陆续投产，折旧及运 营成本随着在建工程转固同比增加，营业成本同比增长17%。"近十年来，公司风电、光伏成本均大幅 下降，与行业成本下降趋势趋于一致"中的成本是指风电、光伏的开发建设成本，并非营业成本。 ...

（编辑 丛可心） 证券日报网讯 2月2日，三峡能源在互动平台回答投资者提问时表示，公司持续完善市值管理体系，制 定市值管理制度、具体工作方案，强化长效机制保障。股价波动受多种因素综合影响。公司将持续多措 并举，着力推动上市公司市场价值与内在价值相匹配，提升公司投资价值和股东回报能力。 ...

Investment Rating - The report provides a positive outlook on the electricity and natural gas sectors, highlighting stable revenue mechanisms and growth potential in consumption and pricing [1][10]. Core Insights - The report emphasizes the importance of a refined capacity pricing mechanism for electricity generation, which aims to stabilize revenue and ensure fair compensation for various power sources [4][6]. - It notes that natural gas consumption is expected to grow, supported by favorable weather conditions and improved economic indicators, despite short-term price fluctuations [10][29]. Summary by Sections 1. Electricity: Improved Capacity Pricing Mechanism - The National Development and Reform Commission and the National Energy Administration have issued a notification to enhance the capacity pricing mechanism for electricity generation, addressing mismatches in supply and demand within the new power system [4]. - The new mechanism aims to ensure that different types of power generation, including coal, gas, and new energy sources, receive fair compensation based on their peak supply capabilities [6][7]. - The report highlights that the refined pricing structure will lead to more predictable revenue for power generation companies, reducing volatility in earnings [7]. 2. Natural Gas: Continued Growth in Consumption - The report indicates that the apparent consumption of natural gas in China is projected to grow by 0.1% in 2025, with December consumption reaching 38.57 billion cubic meters, a year-on-year increase of 1.9% [29]. - It notes that the recent cold weather has supported high natural gas prices, with the U.S. Henry Hub spot price at $7.18/mmBtu, while European prices remain elevated due to low inventory levels and geopolitical tensions [10][12]. - The report suggests that the natural gas sector will benefit from a combination of lower costs and improved pricing mechanisms, leading to a recovery in profitability for city gas companies [31]. 3. Investment Recommendations - For coal-fired power, companies like Guodian Power and Inner Mongolia Huadian are recommended due to their stable revenue sources [8]. - Hydropower companies such as Yangtze Power and State Power Investment Corporation are highlighted for their potential to improve profit margins through reduced capital expenditures [8]. - In the nuclear sector, China National Nuclear Power and China General Nuclear Power are suggested for their growth potential as new units are approved [8]. - The report also recommends focusing on integrated natural gas companies like ENN Energy and China Gas Holdings, which are expected to benefit from lower costs and increased sales [31].

（文章来源：证券日报） 证券日报网讯 2月2日，三峡能源在互动平台回答投资者提问时表示，股价波动受多种因素综合影响， 公司将持续多措并举，着力推动上市公司市场价值与内在价值相匹配，提升公司投资价值和股东回报能 力。 ...