（原标题：深走访?提质效丨湖北能源：加快培育新质生产力 迈向综合能源供应解决方案服务商） 编者按：上市公司是经济高质量发展的重要微观基础。深交所自2024年11月以来，围绕"提高上市公司 质量"核心任务，系统推进上市公司大走访工作，通过建立常态化走访上市公司机制，以"深扎根"式的 服务，直抵企业发展痛点与创新内核，助力新质生产力蓬勃生长。证券时报推出"深走访·提质效"系列 报道，跟随监管部门走进上市公司，探寻资本市场强化功能发挥、更好支持经济高质量发展的新态势， 敬请关注。 证券时报记者 吴少龙 从2005年由两家地方能源企业合并组建，到2010年登陆深交所实现资本化运作，再到2015年引入三峡集 团作为控股股东，湖北能源的二十载发展历程，在资本市场的赋能下，不断破解发展瓶颈，向着"一流 区域千亿综合能源集团"稳步迈进。 打通融资渠道 构建多元能源生态 2010年12月29日，随着深交所的上市钟声响起，湖北能源正式登陆A股市场，成为湖北省能源领域首家 上市公司。彼时，公司主营业务以水电和火电为主，资产规模有限，能源保障能力尚处于区域拓展阶 段。公司相关负责人表示，资本市场不仅提供了重要的资金支持，更推动公司治 ...

筑牢能源保障夯实转型根基 证券时报记者吴少龙 从2005年由两家地方能源企业合并组建，到2010年登陆深交所实现资本化运作，再到2015年引入三峡集 团作为控股股东，湖北能源的二十载发展历程，在资本市场的赋能下，不断破解发展瓶颈，向着"一流 区域千亿综合能源集团"稳步迈进。 打通融资渠道构建多元能源生态 2010年12月29日，随着深交所的上市钟声响起，湖北能源正式登陆A股市场，成为湖北省能源领域首家 上市公司。彼时，公司主营业务以水电和火电为主，资产规模有限，能源保障能力尚处于区域拓展阶 段。公司相关负责人表示，资本市场不仅提供了重要的资金支持，更推动公司治理结构向现代化、规范 化转型，为后续业务扩张奠定了制度基础。 十余年来，湖北能源精准运用资本市场工具，持续充实发展"弹药库"。公司先后于2012年、2015年及 2025年实施三次非公开发行股票，资金如同"活水"，源源不断注入能源主业的各个领域。2015年的非公 开发行更是成为公司发展的重要时刻。通过此次定增，三峡集团以认购股份的方式成为湖北能源实际控 制人，这一央企与地方国企的深度合作，不仅为湖北能源带来了资金支持，更实现了资源、技术与管理 的全方位协 ...

编者按：上市公司是经济高质量发展的重要微观基础。深交所自2024年11月以来，围绕"提高上市公司 质量"核心任务，系统推进上市公司大走访工作，通过建立常态化走访上市公司机制，以"深扎根"式的 服务，直抵企业发展痛点与创新内核，助力新质生产力蓬勃生长。证券时报推出"深走访·提质效"系列 报道，跟随监管部门走进上市公司，探寻资本市场强化功能发挥、更好支持经济高质量发展的新态势， 敬请关注。 证券时报记者 吴少龙 从2005年由两家地方能源企业合并组建，到2010年登陆深交所实现资本化运作，再到2015年引入三峡集 团作为控股股东，湖北能源的二十载发展历程，在资本市场的赋能下，不断破解发展瓶颈，向着"一流 区域千亿综合能源集团"稳步迈进。 打通融资渠道 构建多元能源生态 2010年12月29日，随着深交所的上市钟声响起，湖北能源正式登陆A股市场，成为湖北省能源领域首家 上市公司。彼时，公司主营业务以水电和火电为主，资产规模有限，能源保障能力尚处于区域拓展阶 段。公司相关负责人表示，资本市场不仅提供了重要的资金支持，更推动公司治理结构向现代化、规范 化转型，为后续业务扩张奠定了制度基础。 十余年来，湖北能源精准运用资 ...

11月21日，成都东部新区与中电建地热开发有限公司（以下简称"中电建地热"）签署合作协议，标志着中国电力建设集团有限公司（以下简 称"中国电建集团"）首个"地热+"综合能源区域总部正式落户成都东部新区。 近年来，"地热+"综合能源通过整合地热与光伏、风电、储能等多元清洁能源，成为构建清洁低碳、安全高效的现代能源体系的重要支撑。 作为中国电建集团开展分布式能源领域唯一投资平台，中电建地热通过"地热+"综合能源模式全力打造清洁供能全产业链链长单位，已投建浙江中国轻纺 城、雄安电建智汇城、北京大兴双碳基地等项目。 ▲项目效果图 其中，西部区域总部集规划、科研、生产、结算等功能于一体，打造中国电建集团清洁能源业务展示窗口；综合智慧能源系统将实现"地热+"集中供冷供 热、新型储能、虚拟电厂、屋顶光伏、能源托管、充电桩等功能，通过多能互补为周边工业、商业、住宅等提供供冷供热服务，有效满足企业的电力长效保 障需求。中电建地热总经理田洪亮说，该项目是中电建地热公司战略发展重要布局，将打造国家首批零碳产业示范和央地合作典范。"我们还将利用天府国 际机场的通达性优势，开展清洁能源设备展示与出口业务，拓展中东、欧洲、东南亚等市场， ...

Towngas 27 411 - 7 中 十 日 FC 优先级评级 港华智慧能源于2025年11月11日在深圳证券交易所成功发行"零碳智慧3期绿色资产支持专项计划(碳中和)"。此次发行规模为8.12亿元人民币，优先级票面 利率为2.3%，是2025年内的第二次发行，也是50亿元储架额度内的第三期发行。本期产品获得商业银行、龙头券商、信托、国有投资机构和外资机构等 多元化金融机构的积极认购，彰显了市场对公司卓越的资产运营能力、前瞻性的综合能源战略的信心。 (1) 港华智慧能源 (1) Towngas Smart Energy > 灌华能源 港华智慧能源零碳智慧3期 绿色资产支持专项计划(碳中和) T 规模 优先级利率 :10 注化知善能源 港华智慧能源紧抓全球能源转型机遇，持续深化可再生能源战略布局。截至2025年6月，公司光伏累计并网规模达2.6GW，持续巩固行业领先地位。储能 高速增长，售电业务持续扩张至八个重要省份，显示出强劲的增长潜力与规模化推进势头。 港华智慧能源致力发展成为绿色智慧能源之领先企业，大力发展"能源即服务"(Energy as a Service, EaaS)，构建集投资、建设、运维于一 ...

Core Insights - The company, Yongtai Energy Group Co., Ltd., has experienced a significant decline in revenue and net profit in Q3 2025, with total revenue of 17.728 billion yuan, down 20.77% year-on-year, and net profit of 390 million yuan, down 78.47% year-on-year [1][2]. Financial Performance - The company's operating revenue for Q3 2025 was 17.728 billion yuan, compared to 22.375 billion yuan in the same period last year, reflecting a 20.77% decrease [2]. - The net profit for Q3 2025 was 390 million yuan, a substantial drop from 1.813 billion yuan in the previous year, marking a 78.47% decline [2]. - The main business profit for Q3 2025 was 674 million yuan, down 72.76% from 2.474 billion yuan in the same period last year [4]. Reasons for Profit Decline - The decline in net profit is attributed to a significant drop in main business profit, which was 674 million yuan this quarter compared to 2.474 billion yuan last year, a decrease of 72.76% [3][4]. - The gross margin for the current period was 20.71%, down 5.22% year-on-year, contributing to the overall profit decline [4]. Industry Analysis - Yongtai Energy operates in the comprehensive energy sector, focusing on coal mining and electricity supply. The industry has faced challenges due to environmental policies and energy transition, leading to a slowdown in traditional coal demand [5]. - The future trend in the industry is shifting towards clean energy, with expectations that by 2030, the share of new energy installations will exceed 50% [5]. Market Position - Yongtai Energy is a significant supplier in the domestic coking coal sector, ranking among the top 15 in terms of thermal coal production capacity, with over 60% of its revenue coming from electricity [5]. - The company holds a regional energy supply advantage but has a national market share of less than 3% [5]. Competitor Analysis - In Q3 2025, Yongtai Energy ranked 3065th in operational scoring, while it ranked 5th in the coking coal industry [6]. - As of September 24, 2025, Yongtai Energy's rolling revenue over the past twelve months was 28.4 billion yuan, placing it 5th globally in the coking coal sector [7]. Financial Metrics Comparison - Among five companies analyzed, Yongtai Energy has the lowest research and development expense ratio at 0.43%, while Huai Bei Mining has the highest at 4.68% [9]. - The company's price-to-earnings ratio (PE-TTM) as of November 14, 2025, was 132.61, significantly higher than the industry average of 33.71 [10].

Core Insights - The company, Yongtai Energy Group Co., Ltd., has experienced a significant decline in revenue and net profit in Q3 2025, with total revenue of 17.728 billion yuan, down 20.77% year-on-year, and net profit of 390 million yuan, down 78.47% year-on-year [1][2]. Financial Performance - The company's operating revenue for Q3 2025 was 17.728 billion yuan, compared to 22.375 billion yuan in the same period last year, reflecting a decrease of 20.77% [2]. - The net profit for Q3 2025 was 390 million yuan, down from 1.813 billion yuan in the previous year, marking a substantial decline of 78.47% [2]. - The main business profit for Q3 2025 was 674 million yuan, a significant drop of 72.76% from 2.474 billion yuan in the same period last year [4]. Reasons for Decline - The decline in net profit is attributed to a substantial decrease in main business profit, which was 674 million yuan this quarter compared to 2.474 billion yuan last year, alongside a reduction in operating revenue [3][4]. - The gross profit margin for the current period was 20.71%, down 5.22% year-on-year, contributing to the overall decline in profitability [4]. Industry Analysis - Yongtai Energy operates in the comprehensive energy sector, primarily focusing on coal mining and electricity supply. The industry has faced challenges due to environmental policies and energy transition, leading to a slowdown in traditional coal demand [5]. - The company is a significant supplier in the domestic coking coal sector, ranking among the top 15 in coal production capacity, with over 60% of its revenue derived from electricity [5]. - The future trend in the industry is shifting towards clean energy transition, with expectations that by 2030, renewable energy installed capacity will exceed 50% [5]. Market Position - Yongtai Energy holds a regional energy supply advantage but has a national market share of less than 3%, placing it in the mid-tier of the industry [5]. - As of September 24, 2025, the company's rolling revenue over the past twelve months was 28.4 billion yuan, ranking 5th in both the global and national coking coal industry [7]. Competitor Analysis - In terms of financial metrics, Yongtai Energy has the lowest research and development expense ratio among its peers at 0.43%, while Huabei Mining has the highest at 4.68% [9]. - The company's PE-TTM as of November 14, 2025, was 132.61, significantly higher than the industry average of 33.71, indicating a high valuation relative to its peers [11].

格隆汇11月13日丨天富能源(600509.SH)在投资者互动平台表示,公司是新疆生产建设兵团最大的综合能 源上市公司，主营业务涵盖电力与热力生产及供应、天然气供应、建筑施工等业务，目前暂不涉及生产 氢能的业务。 ...

格隆汇11月13日丨天富能源(600509.SH)在投资者互动平台表示,公司是新疆生产建设兵团最大的综合能 源上市公司，主营业务涵盖电力与热力生产及供应、天然气供应、建筑施工等业务，目前公司合并范围 内的所属公司暂无培育钻石及相关业务。 ...

Investment Rating - The report maintains a "Buy" rating for the company, predicting a relative increase in stock price between 10% and 20% compared to the benchmark index over the next six months [6][11]. Core Insights - The company reported a revenue of 2.33 billion yuan for the first three quarters of 2025, reflecting a year-on-year increase of 9.2%. However, the net profit attributable to shareholders decreased by 20.4% to 180 million yuan [5]. - The report highlights that the company will benefit from the construction and renovation of underground pipelines during the "14th Five-Year Plan" period, with an expected investment demand exceeding 5 trillion yuan [5]. - The company's gross margin and net margin for the first three quarters of 2025 were 11.6% and 7.6%, respectively, showing a decline compared to the previous year [5]. Financial Performance Summary - For the first three quarters of 2025, the company achieved a revenue of 2.33 billion yuan, with a net profit of 180 million yuan. The third quarter alone saw a revenue of 810 million yuan, with a significant year-on-year increase in net profit of 10,849.2% [5]. - The company’s financial ratios indicate a slight decrease in expense ratios, with sales expense ratio at 0.3% and financial expense ratio at -0.5%, while management and R&D expense ratios increased [5]. - The forecast for revenue from 2025 to 2027 is projected to be 3.1 billion, 3.37 billion, and 3.62 billion yuan, with net profits of 190 million, 210 million, and 220 million yuan, respectively [6][8].