上市公司：深圳能源（000027），深南电A（000037），东旭蓝天（000040），川能动力（000155）， 珠海港（000507），穗恒运Ａ（000531），皖能电力（000543），太阳能（000591），建投能源 （000600），韶能股份（000601），宝新能源（000690） 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 数据来源：国家统计局，智研咨询整理 相关报告：智研咨询发布的《2025-2031年中国电力行业投资潜力研究及发展趋势预测报告》 2025年上半年，电力、热力生产和供应业企业数（以下数据涉及的企业，均为规模以上工业企业，从 2011年起，规模以上工业企业起点标准由原来的年主营业务收入500万元提高到年主营业务收入2000万 元）为14584个，和上年同期相比，增加了1272个，同比增长9.56%，占工业总企业的比重为2.8%。 ...

Group 1 - Huadian International Power Co., Ltd. has invested 180 million RMB to establish Jiangsu Huadian Wangting Energy Development Co., Ltd., holding 100% of the shares [1] - Jiangsu Huadian Wangting Energy Development Co., Ltd. was established on December 2, 2024, with a registered capital of 180 million RMB [1] - The company is located in Suzhou and operates in the electricity and heat production and supply industry [1] Group 2 - The company is authorized to engage in power generation, transmission, and supply (distribution) activities, subject to approval from relevant authorities [1] - The company is also involved in heat production and supply, operating independently based on its business license, except for projects requiring legal approval [1]

Group 1 - Yongzhen Technology (Wuhu) Co., Ltd. and Yongzhen Technology Co., Ltd. have obtained a patent for a "Photovoltaic Module Packaging Corner Installation Device" with the authorization announcement number CN223253446U, applied on September 2024 [1] - The patent includes a product transfer device with a transport roller line equipped with a lifting component, and a corner installation device with various components for handling corners [1] - Yongzhen Technology (Wuhu) Co., Ltd. was established in 2021, focusing on electricity and heat production and supply, with a registered capital of 500 million RMB [1] Group 2 - Yongzhen Technology Co., Ltd. was founded in 2016, primarily engaged in non-ferrous metal smelting and rolling processing, with a registered capital of approximately 237.26 million RMB [2] - The company has made investments in 12 enterprises and participated in 2,389 bidding projects, holding 241 patents and 91 trademark registrations [2] - Yongzhen Green Energy Materials Research Institute (Changzhou) Co., Ltd. was established in 2024, focusing on research and experimental development, with a registered capital of 10 million RMB [2]

Group 1 - Xinjiang Lixin New Energy Co., Ltd. has invested 98.7881 million RMB to establish Hetian Lixin Comprehensive Energy Co., Ltd., holding a 51% stake [1] - Hetian Lixin Comprehensive Energy Co., Ltd. was established on January 16, 2025, with a registered capital of 1,937.0217755 million RMB [1] - The company is located in the Hetian region and operates in the electricity and heat production and supply industry [1] Group 2 - The company is authorized to engage in power generation, transmission, and distribution activities, subject to relevant approvals [1] - Additional services include energy storage technology services, wind power generation technology services, solar power generation technology services, electrical equipment repair, contract energy management, energy-saving management services, and emerging energy technology research and development [1]

Group 1 - The State Intellectual Property Office has granted a patent to Southern Power Grid Scientific Research Institute for a device and method related to auxiliary installation, with the announcement number CN119123273B and application date of August 2024 [1] - Southern Power Grid Scientific Research Institute, established in 2010 and located in Guangzhou, primarily engages in electricity and heat production and supply [1] - The company has a registered capital of 100 million RMB and has invested in 5 enterprises, participated in 5000 bidding projects, and holds 67 trademark records and 5000 patent records [1]

经营范围含法律、法规、国务院决定规定禁止的不得经营；法律、法规、国务院决定规定应当许可（审 批）的，经审批机关批准后凭许可（审批）文件经营;法律、法规、国务院决定规定无需许可（审批） 的，市场主体自主选择经营。（技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；新 兴能源技术研发；环境保护专用设备销售；电池销售；轮胎销售；新能源汽车生产测试设备销售；配电 开关控制设备销售；风力发电技术服务；集成电路芯片设计及服务；太阳能发电技术服务；电动汽车充 电基础设施运营；集中式快速充电站；机动车充电销售；发电机及发电机组制造；发电技术服务；合同 能源管理；热力生产和供应；供冷服务；土地使用权租赁；新能源原动设备销售；工程管理服务；电力 设施器材销售；光伏发电设备租赁；劳务服务（不含劳务派遣）。（除依法须经批准的项目外，凭营业 执照依法自主开展经营活动）） 企业名称瓮安县核晶晟新能源有限公司法定代表人周明燕注册资本500万人民币国标行业电力、热力、 燃气及水生产和供应业>电力、热力生产和供应业>电力生产地址贵州省黔南布依族苗族自治州瓮安县 瓮水街道花桥村卢家寨组5号附4号(仅限办公)企业类型其他有限责任公司营业 ...

Group 1 - The core point of the article is that Huadian Technology Co., Ltd. has obtained a patent for a winter antifreeze and wind energy recovery system for indirect air-cooled power plants, indicating innovation in energy efficiency and sustainability [1] - The patent was granted with the announcement number CN113218206B, and the application date was May 2021, showcasing the company's ongoing commitment to research and development in the energy sector [1] - Huadian Technology Co., Ltd. was established in 2008 and is primarily engaged in the production and supply of electricity and heat, with a registered capital of 1,165.72 million RMB [1] Group 2 - The company has made investments in 11 enterprises and has participated in 5,000 bidding projects, reflecting its active role in the industry [1] - Huadian Technology holds 1,674 patents and has 5 trademark registrations, indicating a strong focus on intellectual property and innovation [1] - The company also possesses 22 administrative licenses, which may enhance its operational capabilities and compliance within the energy sector [1]

Group 1 - On August 22, Guang'an Aizhong had a financing purchase amount of 0.08 billion yuan, ranking 403rd in the two markets [1] - The financing repayment amount on the same day was 0.084 billion yuan, resulting in a net sell of 3.4867 million yuan [1] - Over the last three trading days from August 20 to August 22, Guang'an Aizhong received financing purchases of 0.014 billion yuan, 0.021 billion yuan, and 0.08 billion yuan respectively [1] Group 2 - On the same day, there were no shares sold or net sold in the securities lending market [1]

Core Viewpoint - Fuchun Environmental Protection (002479) reported strong financial performance for the first half of 2025, with significant increases in revenue and net profit compared to the previous year [1] Financial Performance - Total revenue for the first half of 2025 reached 2.496 billion yuan, a year-on-year increase of 13.07% [1] - Net profit attributable to shareholders was 186 million yuan, up 88.87% year-on-year [1] - In Q2 2025, total revenue was 1.373 billion yuan, reflecting a 13.26% increase year-on-year, while net profit for the quarter was 90.64 million yuan, up 13.79% [1] - The gross profit margin was 17.76%, down 2.85% year-on-year, while the net profit margin improved to 9.41%, an increase of 51.3% [1] - Total operating expenses (selling, administrative, and financial) amounted to 129 million yuan, accounting for 5.15% of revenue, a decrease of 28.62% year-on-year [1] Key Financial Ratios - Earnings per share (EPS) doubled to 0.22 yuan, a 100% increase year-on-year [1] - The company's net asset value per share increased by 5.03% to 4.81 yuan [1] - Operating cash flow per share rose by 5.23% to 0.43 yuan [1] Cash Flow and Debt Management - Cash flow from investment activities saw a significant increase of 76.44%, attributed to the receipt of equity transfer payments and compensation [2] - Cash flow from financing activities decreased by 53.83% due to reduced bank loans and financing scale [2] - The company’s cash and cash equivalents to current liabilities ratio stands at 28.1%, indicating a need for attention to cash flow status [2] Business Model and Operations - The company relies heavily on research and development for its performance, necessitating a thorough examination of the underlying drivers [2] - The company has established a total production capacity of 340 MW in its cogeneration business, with ongoing expansion projects expected to add 43 MW [3] - The company is exploring smart power plant technologies to enhance operational efficiency through advanced control systems and data analytics [3]

Core Viewpoint - Hangzhou Thermal Power (605011) reported a decline in revenue and net profit for the first half of 2025 compared to the same period in 2024, indicating challenges in its coal trading and energy sales segments [1][2]. Financial Performance Summary - Total revenue for the first half of 2025 was 1.515 billion yuan, a decrease of 9.69% year-on-year [1]. - Net profit attributable to shareholders was 110 million yuan, down 5.52% year-on-year [1]. - In Q2 2025, total revenue was 873 million yuan, a decline of 4.47% year-on-year, while net profit increased by 2.46% to 73.43 million yuan [1]. - The gross margin was 12.22%, a slight decrease of 0.16% year-on-year, while the net margin improved by 3.29% to 9.05% [1]. - Total operating expenses (selling, administrative, and financial) amounted to 63.046 million yuan, representing 4.16% of revenue, an increase of 33.08% year-on-year [1]. Key Financial Ratios - Earnings per share (EPS) decreased by 3.45% to 0.28 yuan, while the net asset per share increased by 6.31% to 5.94 yuan [1]. - Operating cash flow per share saw a significant increase of 144.02% to 0.62 yuan [1]. Changes in Financial Items - Accounts receivable increased significantly, with a ratio of accounts receivable to net profit reaching 87.59% [1][3]. - Other receivables surged by 698.69% due to undistributed dividends from affiliated companies [2]. - Inventory decreased by 36.42% due to reduced coal in transit [2]. - Construction in progress dropped by 94.13% as a subsidiary's projects were completed [2]. - Financial expenses rose by 30.37% due to decreased interest income [3]. Business Evaluation - The company's return on invested capital (ROIC) was 7.88%, indicating average capital returns, with a historical median ROIC of 10.29% since its listing [3].