Core Viewpoint - Yunnan Province is significantly advancing its green energy sector, with over 60 million kilowatts of new green energy capacity added since the start of the 14th Five-Year Plan, contributing to a total capacity of 150 million kilowatts and an industry output value exceeding 400 billion yuan [1] Group 1: Green Energy Development - Yunnan has a total potential for green energy development of 200 million kilowatts, accounting for approximately 20% of the national total [1] - The province's green electricity generation and installed capacity exceed 90%, with non-fossil energy making up 46% of primary energy consumption, ranking among the top in the country [1] - The green aluminum and silicon photovoltaic industries have each surpassed 100 billion yuan in output value, while the new energy battery industry is rapidly emerging [1] Group 2: Energy Collaboration and Environmental Impact - Yunnan has sent over 2 trillion kilowatt-hours of electricity through the "West-to-East Power Transmission" project, saving 665 million tons of standard coal and reducing carbon dioxide emissions by 1.73 billion tons [2] - The province is accelerating the construction of the "Green Aluminum Valley" and has initiated the establishment of 15 provincial-level zero-carbon parks, with 136 national-level green factories and 10 green industrial parks created [2] - The level of industrial greening in Yunnan has significantly improved, supported by the continuous expansion of the "green electricity + advanced manufacturing" advantage [2]

长江商报消息 ●长江商报记者 沈右荣 大型综合电力能源企业甘肃能源（000791.SZ）继续大手笔进行产业布局。 9月3日晚间，甘肃能源发布公告，为进一步扩大公司新能源发电装机规模，公司拟通过控股子公司甘肃电投民勤 新能源有限公司（以下简称"民勤公司"）投资建设民勤100万千瓦风光电一体化项目，项目总投资约40.89亿元。 近年来，甘肃能源动作频频，包括作价76.28亿元收购常乐公司66%股权等，公司因此形成了"风光水火储"多能互 补的电源结构。 截至2025年6月底，甘肃能源已发电控股装机容量为753.97万千瓦。上半年，公司所属电站上半年完成发电量 126.37亿千瓦时。 半年报显示，受发电成本下降等影响，2025年上半年，甘肃能源实现归母净利润8.25亿元，较上年同期增长 16.87%。 此前的2022年至2024年，甘肃能源实现了营收、净利连续三年双增。 甘肃能源的经营现金流保持净流入状态。2025年上半年，公司经营现金流净流入金额为22.25亿元，同比增长 71.25%。 超40亿建设加码产业布局 甘肃能源继续加码产业布局，拟投资建设风光电一体化项目。 根据最新公告，为进一步扩大公司新能源发电装机规 ...

Core Viewpoint - Gansu Energy (000791.SZ) has reported strong financial performance for the first half of 2025, with significant growth in net profit and a robust asset base, driven by strategic acquisitions and a diversified energy portfolio [1][2][3]. Financial Performance - In the first half of 2025, Gansu Energy achieved revenue of 3.931 billion yuan, a year-on-year increase of 0.19%, and a net profit of 825 million yuan, up 16.87%. The non-recurring net profit reached 823 million yuan, soaring by 190.41% [1][2]. - The company reported a total asset growth of 77.1% year-on-year, reaching 36.66 billion yuan, marking a historical high [1][6]. Strategic Acquisitions - The acquisition of a 66% stake in Changle Company for 7.628 billion yuan in November 2024 has significantly contributed to Gansu Energy's performance, integrating a major thermal power project into its operations [3][4]. - Changle Company reported a net profit exceeding 1 billion yuan in the first half of 2025, becoming a key growth driver for Gansu Energy [4]. Energy Portfolio - Gansu Energy has established a diversified energy structure, including thermal, hydro, wind, and solar power, with a total installed capacity of 7.5397 million kilowatts as of mid-2025 [5][6]. - The company has actively engaged in market transactions, with 99.19% of its electricity sales coming from market trading, reflecting a strategic push towards long-term water power trading [2][5]. Future Outlook - Gansu Energy is focusing on expanding its renewable energy projects, including a significant 6 million kilowatt renewable energy project in the Tengger Desert, which is expected to enhance its green energy portfolio [5][6]. - The company is well-positioned to benefit from the dual carbon goals and the ongoing implementation of its multi-energy complementary strategy, which is anticipated to strengthen its market position [6].

萨摩耶云科技集团首席经济学家郑磊向《证券日报》记者表示："调峰火电的核心优势在于其快速响应 与灵活调节能力。随着新能源发电占比提升，这一能力愈发关键。清洁能源反向收购火电项目能高效整 合火电调峰优势与清洁能源发展目标，优化资源配置。'风光水火储'协同布局将充分发挥各自优势，形 成互补效应，推动新能源产业可持续发展。" 这一战略举措在2025年上半年即显现巨大效益。常乐公司报告期内实现营业收入28.8亿元，净利润超10 亿元。重组之时，交易对方甘肃省电力投资集团有限责任公司（以下简称"甘肃电投"）曾经作出业绩承 诺，2024年至2026年常乐公司扣非净利润分别为11.37亿元、11.73亿元、11.99亿元。 "常乐公司作为西北重要的调峰电源，其优异的盈利能力验证了甘肃能源资产重组的前瞻性。在新能源 波动性加大的背景下，常乐提供的稳定现金流和调峰能力，是支撑甘肃能源'风光水火储'战略落地的核 心基石，其价值在未来能源结构中只会愈发凸显。"一位电力设备行业分析师表示。 本报记者 刘欢 8月14日晚间，甘肃电投能源发展股份有限公司（以下简称"甘肃能源"）披露2025年半年度报告。报告 期内，甘肃能源实现营业收入39 ...