本报记者 杜雨萌 1月份以来，受寒潮天气影响，我国用电需求持续攀升，先后创下冬季单日用电量突破300亿千瓦时、全国电力负荷突破14 亿千瓦的纪录。其中，入冬以来，华北、西北、东北等3个区域电网和新疆、西藏等12个省级电网负荷75次创历史新高，对迎 峰度冬保暖保供形成严峻考验。 燃煤是冬季供热的"口粮"，对于承担超9.6亿平方米民生供热任务的中国大唐集团有限公司（以下简称"中国大唐"）而言， 确保燃煤库存足、供应稳，是其筑牢供热根基的关键。 记者从中国大唐获悉，作为京津唐电网关键电源支撑点，内蒙古大唐国际托克托发电有限责任公司承担着呼和浩特市总面 积达6300万平方米区域的供热使命。截至目前，燃料库存可用天数在20天以上，为冬储煤库存稳步提升提供了可靠支撑。大唐 黑龙江发电有限公司哈尔滨第一热电厂利用厂外储煤利好政策，存煤量同比增长20%，创建厂以来同期最高水平。大唐国际发 电股份有限公司张家口发电分公司坚持"优质长协+低价市场"采购模式，单日卸煤最高达4.06万吨。大唐鸡西第二热电有限公司 全面优化库存煤结构，当前储煤量可满足30天用煤需求，为供热备足"口粮"。总的来看，本次供热季以来，中国大唐供热达 186 ...

Major Events - Dongpeng Beverage (09980) will conduct its IPO from January 26 to January 29, with an expected listing date of February 3 [1] - Zijin Mining (02899) plans to acquire 100% of Allied Gold Corporation for approximately CAD 5.5 billion [2] - AsiaInfo Technologies (01675) collaborates with ABB Robotics to establish an "Embodied Intelligence Laboratory" [3] - Dongyang Sunshine Pharmaceutical (06887) signs a strategic cooperation agreement with Shenzhen Jingtai to form a joint venture for an AI-driven drug research platform [4] - Howie Group (00501) intends to invest up to USD 50 million to subscribe for shares in Aixin Yuanzhi's initial public offering [5] - Singularity Guofeng (01280) enters a GPU distribution cooperation agreement with Muxi Co., aiming to penetrate the domestic AI computing power market [6] - Guorui Life (00108) signs a strategic cooperation memorandum with Mingzhi Medical to promote deep integration and industrial upgrading of "medical + technology + scenarios" [7] Financial Reports - Harbin Electric (01133) anticipates a net profit attributable to shareholders of approximately CNY 2.65 billion for 2025 [8] - Joyson Electronics (00699) expects an annual net profit of about CNY 1.35 billion, representing a year-on-year growth of approximately 40.56% [9] - Guotai Junan International (01788) projects an annual net profit between HKD 1.28 billion and HKD 1.38 billion, a significant increase of 265% to 293% year-on-year [10] - Tianyue Advanced (02631) forecasts annual revenue of CNY 1.45 billion to CNY 1.5 billion [11] - China Power (02380) estimates a consolidated total electricity sales volume of approximately 126 million megawatt-hours for 2025 [12] - Chalco International (02068) expects a total new contract amount of CNY 46.836 billion for 2025, a year-on-year increase of 51.94% [13]

Company News - China Power (02380.HK) expects a total consolidated electricity sales volume of 10.73105 million MWh by December 2025, a decrease of 2.31% year-on-year; the total annual electricity sales volume is approximately 126 million MWh, down 1.27% year-on-year [2] - Harbin Electric (01133.HK) anticipates a net profit attributable to shareholders of approximately RMB 2.65 billion for the fiscal year 2025, compared to RMB 1.686 billion in the previous year, mainly due to increased operating revenue and improved product profitability [2] - Singularity Guofeng (01280.HK) has entered into a GPU distribution cooperation agreement with Muxi Co., aiming to enter the domestic AI computing power market [2] - Dongyang Sunshine Pharmaceutical (06887.HK) has signed a strategic cooperation agreement with Shenzhen Jingtai to establish a joint venture for building an AI-driven drug research and development platform [2] - Weisheng Pharmaceutical-B (02561.HK) has received approval from the National Medical Products Administration for the marketing authorization application of injectable Long Pei growth hormone [2] - Kintor Pharmaceutical-B (02171.HK) issued a profit warning, expecting a net loss for 2025 to be reduced to no more than approximately RMB 120 million [2] - Zhaoke Ophthalmology-B (06622.HK) is advancing the commercialization process of BRIMOCHOL PF for treating presbyopia in Singapore and Vietnam through partnerships with AFT and Qianshou [2] Additional Company Developments - Heng Rui Medicine (01276.HK) has received a clinical trial approval notice for SHR-1049 injection [3] - Baolong Real Estate (01238.HK) has had its bond restructuring plan approved by the relevant bondholders' meeting [3] Strategic Partnerships - Yabo Technology Holdings (08279.HK) has entered into a technical service agreement with Hong Kong Gold Exchange Limited [4] - Future Data Group (08229.HK) has signed a strategic cooperation framework agreement with Linghe Culture [4] - Howey Group (00501.HK) plans to invest up to USD 50 million to subscribe for shares in Aixin Yuanzhi's initial public offering [4] Buyback Activities - Xiaomi Group-W (01810.HK) repurchased 3.9872 million shares for HKD 140 million, with a repurchase price ranging from HKD 35.04 to HKD 35.22 [5] - China Metallurgical Group (01618.HK) repurchased 9.011 million shares for HKD 16.9299 million, with a repurchase price of HKD 1.87 to HKD 1.88 [5] - Geely Automobile (00175.HK) repurchased 4.401 million shares for HKD 72.952 million, with a repurchase price ranging from HKD 16.43 to HKD 16.65 [6] - Reshape Energy (02570.HK) completed the placement of a total of 4.536 million placement shares, raising approximately HKD 258 million [6] - Kintor Pharmaceutical-B (09939.HK) saw an increase of 4.7 million shares by Chairman Tong Youzhi [6]

中国电力(02380)公布，该集团于2025年12月的合并总售电量为1073.105万兆瓦时，较去年同期减少 2.31%，而截至2025年12月31日止年度的合并总售电量为约1.26亿兆瓦时，同比减少1.27%。 ...

格隆汇1月26日丨中国电力(02380.HK)公告，于2025年12月的合并总售电量为10,731,050兆瓦时，较去年 同期减少2.31%，而截至2025年12月31日止年度的合并总售电量为126,332,861兆瓦时，同比减少 1.27%。 ...

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，概不就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。 中 國 電 力 國 際 發 展 有 限 公 司 本集團於二零二五年十二月及截至二零二五年十二月三十一日止年度的總售電量， 按發電廠類型列示如下： | 全資擁有或 | | | 售電量（兆瓦時） | | | | | --- | --- | --- | --- | --- | --- | --- | | 控制的發電廠 | 2025 年 | 2024 年 | 同比變化 | 年度 | | 同比變化 | | | 12 月 | 12 月 | | 2025 | 2024 | | | 水力發電 | 1,073,543 | 952,497 | 12.71% | 18,282,283 | 18,470,727 | -1.02% | | 風力發電(1) | 2,993,561 | 2,711,605 | 10.40% | 30,798,035 | 26,236,946 | 17.38% | | 光伏發電 | 1,870,313 ...

Core Viewpoint - The article highlights the transformation in Shilian Town, Meitan County, Zunyi City, driven by the integration of green energy solutions, particularly solar power and electric vehicle charging stations, which are attracting more visitors and enhancing local businesses [1] Group 1: Green Energy Integration - The hotel owner, Feng Ji, has installed over 300 square meters of solar panels on the hotel roof, generating electricity that supports both the hotel operations and a nearby charging station [1] - The charging station, built by Guizhou Electric Power Company, serves as a crucial facility for travelers, alleviating concerns about electric vehicle charging during their journeys [1] Group 2: Economic Impact - The presence of the charging station has become a unique selling point for the hotel, attracting more guests, particularly those driving electric vehicles [1] - Feng Ji reports that his hotel has nearly full bookings, with a noticeable increase in guests using new energy vehicles, indicating a shift in consumer preferences towards sustainable travel options [1]

Core Insights - China's total electricity consumption is projected to exceed 10.4 trillion kilowatt-hours by 2025, surpassing the combined annual electricity consumption of the EU, Russia, India, and Japan, and more than double that of the United States [4][6][40] - The rapid growth from 1 trillion to 10 trillion kilowatt-hours in just 20 years is unprecedented among major economies, showcasing China's economic strength [4][6] Electricity Consumption Growth - Electricity consumption is a key indicator of economic performance, reflecting China's steady economic development over decades [6] - Despite global economic uncertainties, China's electricity consumption is expected to grow by 5% year-on-year, demonstrating the resilience and vitality of its large-scale economy [6] Energy Supply and Infrastructure - By November 2025, China's installed capacity for wind and solar power is expected to reach 1.76 billion kilowatts, a 34% increase from the previous year, with non-fossil energy sources accounting for over 60% of total generation [8][10] - The country's electricity transmission capacity will reach 370 million kilowatts, supported by 46 ultra-high voltage lines, facilitating efficient energy distribution across regions [10][11] Structural Changes in Electricity Consumption - The industrial sector remains the largest consumer of electricity, accounting for approximately 64%, but the growth rate of high-energy-consuming industries is only 1.8%, while high-tech and equipment manufacturing sectors see a growth rate of 6.4% [18][20] - The rapid growth of the tertiary sector and residential electricity consumption is becoming a significant driver of electricity demand, with internet services and electric vehicle charging industries experiencing substantial increases [22][24] Transition to Electricity Exporter - China has transitioned from being a major electricity consumer to an electricity exporter, supplying power to 16 neighboring countries and offering comprehensive energy solutions and technical standards [28][34] - The successful implementation of ultra-high voltage technology has positioned China as a leader in the global electricity sector, with 20 international standards established [30][32] Global Influence and Responsibility - China's overseas investment in the electricity sector has reached $110.4 billion, enhancing its influence in the global electricity market [36] - The country's commitment to green development and energy transition is recognized globally, contributing to its status as a key player in the international energy landscape [36][40]

全球首富埃隆·马斯克日前警告称，在美国，人工智能（AI）发展面临的最大阻碍是电力不足，而中国 却不存在这一问题。 周四，马斯克在与贝莱德首席执行官、世界经济论坛临时联合主席拉里·芬克的对话中表示，人工智能 芯片的生产正呈指数级增长，但电力供应不足，这制约了AI数据中心在训练和部署AI模型方面的效 率。 美国一直深陷电网系统陈旧落后的困局，这是数十年投资不足和基础设施老化的后果。随着科技公司越 来越依赖电网运营商提供电力，电网的可靠性问题和供电能力限制已威胁到AI部署的速度，并引发担 忧：美国可能会因电力短板在AI竞赛中落后于人。 能源专家透露，英伟达总部所在地加州圣克拉拉市的两座大型数据中心，或因电力供应不足而闲置数 年。与此同时，AI巨大的耗电量推高相关地区的能源成本，引发了民众对数据中心建设的抵制。 美国总统特朗普周三在达沃斯演讲中鼓励科技企业在布局人工智能时自建核电站，并声称，政府将在短 短三周内批准此类项目——尽管核电站的审批流程历来需要数年时间。 全球首富埃隆·马斯克日前警告称，在美国，人工智能（AI）发展面临的最大阻碍是电力不足，而中国 却不存在这一问题。 周四，马斯克在与贝莱德首席执行官、世界经 ...

Core Insights - In 2025, China's electricity market transaction volume reached 6.6 trillion kilowatt-hours, marking a year-on-year growth of 7.4% and accounting for 64.0% of the total electricity consumption, an increase of 1.3 percentage points compared to the previous year [1] Transaction Volume Overview - The provincial transaction volume was 5.0473 trillion kilowatt-hours, reflecting a year-on-year increase of 6.2% [1] - The inter-provincial and inter-regional transaction volume was 1.5921 trillion kilowatt-hours, with a year-on-year growth of 11.6%, including 3.4 billion kilowatt-hours from cross-grid operations [1] Transaction Types - The medium and long-term transaction volume was 6.3522 trillion kilowatt-hours, while the spot transaction volume was 287.2 billion kilowatt-hours [1] - Green electricity transaction volume reached 328.5 billion kilowatt-hours, showing a significant year-on-year increase of 38.3% [1] December 2025 Performance - In December 2025, the total electricity market transaction volume was 608 billion kilowatt-hours, up 6.6% year-on-year [1] - The provincial transaction volume for December was 464.1 billion kilowatt-hours, increasing by 5.3% year-on-year, while the inter-provincial and inter-regional transaction volume was 143.9 billion kilowatt-hours, up 11.3% [1] - The medium and long-term transaction volume for December was 582.2 billion kilowatt-hours, and the spot transaction volume was 25.8 billion kilowatt-hours [1] - Green electricity transaction volume in December was 31.7 billion kilowatt-hours, reflecting a year-on-year growth of 32.3% [1]