Core Insights - In the first nine months of 2023, China's electricity market transaction volume reached 49,239 billion kilowatt-hours, representing a year-on-year growth of 7.2% [1] - In September 2023 alone, the transaction volume was 5,732 billion kilowatt-hours, showing a year-on-year increase of 9.8% [1] Transaction Scope - The intra-provincial transaction volume was 43,03 billion kilowatt-hours, up 7.2% year-on-year [1] - The inter-provincial and inter-regional transaction volume was 1,429 billion kilowatt-hours, reflecting an 18.5% year-on-year growth [1] Transaction Types - The medium and long-term transaction volume was 53,31 billion kilowatt-hours [1] - The spot transaction volume was 401 billion kilowatt-hours [1] - Green electricity transaction volume reached 290 billion kilowatt-hours, marking a significant year-on-year increase of 42.9% [1] Overall Market Impact - The total electricity market transaction volume accounted for 63.4% of the total electricity consumption in society, an increase of 1.4 percentage points year-on-year [1] - For the first nine months, the intra-provincial transaction volume was 37,289 billion kilowatt-hours, up 5.7% year-on-year [1] - The inter-provincial and inter-regional transaction volume was 11,950 billion kilowatt-hours, with a year-on-year growth of 12.1% [1] - The medium and long-term transaction volume for the first nine months was 47,234 billion kilowatt-hours, while the spot transaction volume was 2,005 billion kilowatt-hours [1] - The green electricity transaction volume for the same period was 2,348 billion kilowatt-hours, reflecting a year-on-year increase of 40.6% [1]

Core Insights - The national electricity market transaction volume from January to September 2025 increased by 7.2% year-on-year [1] - In September 2025, the total electricity market transaction volume reached 573.2 billion kilowatt-hours, marking a year-on-year growth of 9.8% [1] Transaction Volume Breakdown - Provincial transaction volume accounted for 430.3 billion kilowatt-hours, with a year-on-year increase of 7.2% [1] - Cross-provincial and cross-regional transaction volume was 142.9 billion kilowatt-hours, showing a significant year-on-year growth of 18.5% [1] - The medium and long-term transaction volume was 533.1 billion kilowatt-hours, while the spot transaction volume was 40.1 billion kilowatt-hours [1] - Green electricity transaction volume reached 29.0 billion kilowatt-hours, reflecting a substantial year-on-year increase of 42.9% [1] Cumulative Transaction Data - From January to September 2025, the cumulative electricity market transaction volume was 4,923.9 billion kilowatt-hours, which is a 7.2% year-on-year increase, accounting for 63.4% of the total social electricity consumption, up by 1.4 percentage points year-on-year [1] - Provincial transaction volume for this period was 372.89 billion kilowatt-hours, with a year-on-year growth of 5.7% [1] - Cross-provincial and cross-regional transaction volume totaled 119.5 billion kilowatt-hours, marking a year-on-year increase of 12.1% [1] - Medium and long-term transaction volume was 4,723.4 billion kilowatt-hours, while spot transaction volume was 200.5 billion kilowatt-hours [1] - Green electricity transaction volume for the same period was 234.8 billion kilowatt-hours, reflecting a year-on-year increase of 40.6% [1]

Core Insights - The national electricity market transaction volume reached 573.2 billion kilowatt-hours in September 2025, marking a year-on-year increase of 9.8% [1] - The proportion of electricity market transactions in total social electricity consumption was 63.4%, an increase of 1.4 percentage points year-on-year [1] Transaction Volume Summary - In September 2025, the provincial transaction volume was 430.3 billion kilowatt-hours, up 7.2% year-on-year, while cross-provincial and cross-regional transactions reached 142.9 billion kilowatt-hours, increasing by 18.5% [1] - From January to September 2025, the cumulative electricity market transaction volume was 4,923.9 billion kilowatt-hours, a 7.2% increase year-on-year [1] Trading Types Summary - The medium and long-term transaction volume was 5,331 billion kilowatt-hours, while spot trading accounted for 401 billion kilowatt-hours in September 2025 [1] - For the first nine months of 2025, medium and long-term transactions totaled 47,234 billion kilowatt-hours, with spot trading at 2,005 billion kilowatt-hours [1] Green Electricity Trading Summary - Green electricity trading volume reached 29 billion kilowatt-hours in September 2025, reflecting a significant year-on-year growth of 42.9% [1] - Cumulatively, green electricity trading for January to September 2025 was 2,348 billion kilowatt-hours, up 40.6% year-on-year [1]

前9个月，全国绿电交易电量2348亿千瓦时，同比增长40.6%。 经济观察网据央视新闻客户端消息，国家能源局今天发布数据显示，1—9月，全国累计完成电力市场交 易电量49239亿千瓦时，同比增长7.2%，占全社会用电量比重为63.4%，同比提高1.4个百分点。其中， 省内交易电量同比增长5.7%；跨省跨区交易电量同比增长12.1%。 ...

Core Insights - The National Energy Administration reported that from January to September, the cumulative electricity market transaction volume reached 49,239 billion kilowatt-hours, representing a year-on-year increase of 7.2% [1] - This transaction volume accounted for 63.4% of the total electricity consumption in the society, which is an increase of 1.4 percentage points compared to the previous year [1] - In terms of transaction scope, the intra-provincial transaction volume was 37,289 billion kilowatt-hours, up by 5.7% year-on-year, while the inter-provincial and inter-regional transaction volume was 11,950 billion kilowatt-hours, showing a year-on-year increase of 12.1% [1] - Green electricity transaction volume reached 2,348 billion kilowatt-hours, marking a significant year-on-year growth of 40.6% [1]

Core Viewpoint - Guangxi Energy reported significant declines in both operating revenue and net profit for the third quarter of 2025, indicating challenges in its operational performance [1] Financial Performance - For the period from January to September, Guangxi Energy achieved operating revenue of 2.635 billion yuan, a year-on-year decrease of 9.69% [1] - The net profit for the same period was 78.22 million yuan, down 82.6% year-on-year, with a non-recurring net profit loss of 46.80 million yuan, a decline of 125.13% [1] - In the third quarter alone, the operating revenue was 999.83 million yuan, nearly unchanged from the previous year, while net profit and non-recurring net profit were 149.13 million yuan and 34.25 million yuan, respectively, reflecting year-on-year declines of 65.97% and 57.75% [1][2] Business Segments - The hydropower segment faced challenges due to reduced water flow in the Hejiang and Guijiang river basins, leading to decreased power generation and a non-recurring net profit of 199 million yuan, down 32.45 million yuan year-on-year [3] - The thermal power segment reported a non-recurring net profit loss of 234 million yuan, an increase in loss of 86.53 million yuan year-on-year, attributed to lower electricity prices and reduced generation [3] - The supply segment's non-recurring net profit was 175 million yuan, a decrease of 175 million yuan year-on-year, impacted by increased costs from purchasing electricity [3] Other Developments - The wind power segment saw an increase in generation due to the full capacity of offshore wind turbines, but revenue was affected by market imbalances, resulting in a non-recurring net profit of 15.78 million yuan, an increase of 3.78 million yuan year-on-year [4] - Guangxi Energy's non-recurring gains from financial assets decreased significantly, impacting net profit by 51.49 million yuan, down from 235 million yuan the previous year [4] - The company is in the process of transferring its stake in Guohai Securities and has sold a total of 66.74 million shares of Huanqiu New Materials for 339 million HKD in the secondary market [4]

Core Insights - The National Energy Administration reported that in the first eight months of this year, the cumulative electricity market transaction volume reached 43,442 billion kilowatt-hours, a year-on-year increase of 7.0%, accounting for 63.2% of the total electricity consumption, an increase of 1.3 percentage points year-on-year [1] Transaction Volume Summary - Intra-provincial transaction volume for the first eight months was 33,148 billion kilowatt-hours, up 6.3% year-on-year [1] - Inter-provincial and inter-regional transaction volume was 10,294 billion kilowatt-hours, up 9.4% year-on-year [1] - The medium and long-term transaction volume was 41,785 billion kilowatt-hours, while the spot transaction volume was 1,657 billion kilowatt-hours [1] Green Electricity Trading Summary - The green electricity transaction volume in the first eight months was 2,050 billion kilowatt-hours, a significant year-on-year increase of 43.3% [1] Monthly Data Summary - In August, the total electricity market transaction volume was 6,550 billion kilowatt-hours, a year-on-year increase of 11.6% [1] - Intra-provincial transaction volume in August was 4,859 billion kilowatt-hours, up 11.0% year-on-year [1] - Inter-provincial and inter-regional transaction volume in August was 1,691 billion kilowatt-hours, up 13.4% year-on-year [1] - Medium and long-term transaction volume in August was approximately 6,249 billion kilowatt-hours, while spot transaction volume was about 302 billion kilowatt-hours [1] - Green electricity transaction volume in August was 249 billion kilowatt-hours, a year-on-year increase of 47.2% [1]

Core Insights - The national electricity market transaction volume in China for January to August 2025 reached 43,442 billion kilowatt-hours, representing a year-on-year growth of 7.0% and accounting for 63.2% of the total electricity consumption, an increase of 1.3 percentage points compared to the previous year [2]. Group 1: Market Transaction Volume - In August 2025, the total electricity market transaction volume was 6,550 billion kilowatt-hours, showing a year-on-year increase of 11.6% [1]. - The provincial transaction volume was 4,859 billion kilowatt-hours, with a year-on-year growth of 11.0% [1]. - The inter-provincial and inter-regional transaction volume reached 1,691 billion kilowatt-hours, reflecting a year-on-year increase of 13.4% [1]. Group 2: Transaction Types - The medium and long-term transaction volume was 62,490 billion kilowatt-hours [1]. - The spot transaction volume was 30.2 billion kilowatt-hours [1]. - The green electricity transaction volume was 24.9 billion kilowatt-hours, which represents a significant year-on-year growth of 47.2% [1]. Group 3: Cumulative Data - For the cumulative period of January to August 2025, the medium and long-term transaction volume was 41,785 billion kilowatt-hours [2]. - The spot transaction volume for the same period was 1,657 billion kilowatt-hours [2]. - The green electricity transaction volume reached 2,050 billion kilowatt-hours, marking a year-on-year increase of 43.3% [2].

Core Insights - The National Energy Administration reported that by August 2025, the total electricity market transaction volume in China reached 6,550 billion kilowatt-hours, marking an 11.6% year-on-year increase [1] Transaction Volume Summary - In the first eight months of 2025, the cumulative electricity market transaction volume was 43,442 billion kilowatt-hours, reflecting a 7.0% year-on-year growth and accounting for 63.2% of the total electricity consumption, an increase of 1.3 percentage points year-on-year [1] - Within the transaction scope, the provincial transaction volume was 33,148 billion kilowatt-hours, up 6.3% year-on-year, while the inter-provincial and inter-regional transaction volume reached 10,294 billion kilowatt-hours, increasing by 9.4% [1] Transaction Types Summary - The breakdown of transaction types shows that the medium to long-term transaction volume was 41,785 billion kilowatt-hours, while the spot transaction volume was 1,657 billion kilowatt-hours [1] - Green electricity transaction volume reached 2,050 billion kilowatt-hours, which is a significant year-on-year increase of 43.3% [1]

Core Insights - The national electricity market transaction volume reached 655 billion kilowatt-hours in August 2025, marking an 11.6% year-on-year increase [1] - The intra-provincial transaction volume was 485.9 billion kilowatt-hours, up 11.0% year-on-year, while inter-provincial and inter-regional transactions totaled 169.1 billion kilowatt-hours, reflecting a 13.4% increase [1] - Green electricity transactions surged by 47.2%, amounting to 24.9 billion kilowatt-hours [1] Summary by Category Overall Market Performance - From January to August 2025, the cumulative electricity market transaction volume reached 4,344.2 billion kilowatt-hours, a 7.0% increase year-on-year, accounting for 63.2% of total electricity consumption, which is a 1.3 percentage point increase [1] Intra-Provincial vs. Inter-Provincial Transactions - Intra-provincial transactions totaled 3,314.8 billion kilowatt-hours, reflecting a 6.3% year-on-year growth [1] - Inter-provincial and inter-regional transactions amounted to 1,029.4 billion kilowatt-hours, with a year-on-year increase of 9.4% [1] Transaction Types - The long-term transaction volume was 41,785 billion kilowatt-hours, while spot transactions accounted for 1,657 billion kilowatt-hours [1] - Green electricity transactions for the same period reached 205 billion kilowatt-hours, showing a 43.3% year-on-year increase [1]