（编辑 姚尧） 证券日报网讯 11月17日晚间，中国广核发布公告称，为进一步加强与投资者的互动交流，中国广核电 力股份有限公司（以下简称"公司"）将参加由深圳证监局和中证中小投资者服务中心指导、深圳上市公 司协会与深圳市全景网络有限公司联合举办的"2025年度深圳辖区上市公司投资者网上集体接待日活 动"。活动时间为2025年11月20日。 ...

中广核电力(01816)公布，公司附属公司山东招远核电有限公司的招远1号机组即将于2025年11月18日进 行核反应堆主厂房第一罐混凝土浇筑(FCD)，即招远1号机组将于该日开始全面建设，进入土建施工阶 段。招远1号机组采用华龙一号核电技术，单台机组装机容量为1,214MW。 ...

格隆汇11月17日丨中广核电力(01816.HK)宣布，公司附属公司山东招远核电有限公司的招远1号机组即 将于2025年11月18日进行核反应堆主厂房第一罐混凝土浇筑(FCD)，即招远1号机组将于该日开始全面 建设，进入土建施工阶段。招远1号机组采用华龙一号核电技术，单台机组装机容量为1,214MW。 ...

智通财经APP讯，中广核电力(01816)公布，公司附属公司山东招远核电有限公司的招远1号机组即将于 2025年11月18日进行核反应堆主厂房第一罐混凝土浇筑(FCD)，即招远1号机组将于该日开始全面建 设，进入土建施工阶段。 招远1号机组采用华龙一号核电技术，单台机组装机容量为1,214MW。 ...

中国广核（003816）(003816.SZ)公告，公司子公司山东招远核电有限公司的招远1号机组即将于2025年 11月18日进行核反应堆主厂房第一罐混凝土浇筑(FCD)，即招远1号机组将于该日开始全面建设，进入 土建施工阶段。招远1号机组采用华龙一号核电技术，单台机组装机容量为1214MW。 ...

智通财经APP讯，中国广核(003816.SZ)公告，公司子公司山东招远核电有限公司的招远1号机组即将于 2025年11月18日进行核反应堆主厂房第一罐混凝土浇筑(FCD)，即招远1号机组将于该日开始全面建 设，进入土建施工阶段。招远1号机组采用华龙一号核电技术，单台机组装机容量为1214MW。 ...

中国广核公告，子公司山东招远核电有限公司的招远1号机组即将于2025年11月18日进行核反应堆主厂 房第一罐混凝土浇筑（FCD），即招远1号机组将于该日开始全面建设，进入土建施工阶段。招远1号机 组采用华龙一号核电技术，单台机组装机容量为1,214MW。 ...

Group 1 - The company signed a guarantee counter-guarantee contract with Rongdan Group to provide a guarantee of up to 200 million yuan for its wholly-owned subsidiary Yantai Taihai Nuclear Power to apply for a separated letter of guarantee business [1] - The total guarantee amount is within an expected annual limit of 1.5 billion yuan and does not require further review [1] - As of now, the existing guarantee balance is 560 million yuan, and the new 200 million yuan guarantee accounts for 12.08% of the company's latest net assets [1] Group 2 - As of June 30, 2025, Yantai Taihai Nuclear Power reported revenue of 261.44 million yuan and a net loss of 33.56 million yuan [1] - After this guarantee, the company's total external guarantee amount reaches 1.726 billion yuan, which is 37.23% of the audited net assets for the year 2024, with no overdue or adverse guarantee situations [1]

Group 1: Power Industry - The unified electricity market is accelerating construction, promoting high-quality development of renewable energy. The basic rules of the unified electricity market have been established, with a focus on market-driven pricing for renewable energy [1][24][29] - In the first three quarters of 2025, the wind power sector's revenue decreased by 2.80% year-on-year, while the solar power sector's revenue dropped by 14.01%, indicating pressure on the performance of the renewable energy sector due to consumption and pricing issues [30][31] - The total installed capacity of wind and solar power reached 582 GW and 1127 GW respectively by September 2025, accounting for 46% of the total installed capacity, with a significant contribution to non-fossil energy consumption [36][40] Group 2: Thermal Power - The transition of thermal power to a regulatory power source is accelerating, with coal prices expected to support long-term contract prices, stabilizing profitability for coal-fired power plants [2] - The capacity price for coal-fired power is anticipated to increase further in 2026, promoting stable profitability for coal power [2][10] Group 3: Hydropower - Hydropower is experiencing improved cost-effectiveness due to abundant cash flow and stable performance, with high dividends becoming more attractive in a declining interest rate environment [3] - The core growth points for hydropower include increased installed capacity, rising electricity prices, and reduced financial costs and depreciation [3] Group 4: Nuclear Power - The nuclear power sector is facing pressure from declining market prices, but there is a rebound in electricity prices in Guangdong, and new nuclear power developments are gaining momentum [3][10] - The approval of new nuclear units is becoming more regular, with 10 units approved in 2025, indicating a positive outlook for the sector [3] Group 5: Natural Gas - Domestic natural gas supply is expected to remain relatively loose, with a decline in apparent consumption by 0.2% year-on-year in the first nine months of 2025 [4] - The global natural gas market is entering a supply expansion phase, which may lead to a downward trend in overseas gas prices [4] Group 6: Green Methanol - The promotion of green electricity consumption and the replacement of shipping fuels are expected to open up growth opportunities for green methanol [9] - As of August 2025, there are 173 signed/registered green methanol projects in China, with a total capacity of 53.46 million tons per year, indicating rapid growth in the sector [9][10] Group 7: Environmental Protection - The water and waste incineration sectors are entering a mature phase, with significant improvements in free cash flow, suggesting investment opportunities in the environmental protection sector [10] - The domestic market for scientific instruments exceeds $9 billion, with substantial potential for domestic substitution, particularly benefiting companies in environmental monitoring instruments [10]

Core Viewpoint - The recent measures introduced by the State Council aim to create a better environment for private capital to participate in key investment areas, particularly in energy, infrastructure, and technological innovation [1][3][5]. Group 1: Policy Measures - The document outlines 13 specific measures focusing on "expanding access, removing obstacles, and strengthening guarantees" to address issues like "difficult access" and "financing challenges" [3][5]. - Key projects requiring national approval, such as nuclear power and hydropower, will now have a feasibility study for private capital participation, encouraging shareholding ratios to exceed 10% [3][5]. - By 2025, the shareholding ratio for private capital in nuclear power projects is expected to increase from 10% to between 10% and 20% [3][5]. Group 2: Investment Environment - The energy sector has seen a shift towards a supportive system for private investment, with private enterprises becoming key players in traditional and emerging sectors [6][8]. - Private companies now account for nearly 60% of the electricity sales market, and the number of oil and gas transporters has surged from 5 in 2019 to 1005 [6][8]. - Policies promoting green electricity direct supply have enabled private renewable energy companies to supply electricity directly to users, enhancing local consumption [6][8]. Group 3: Investment Models and Innovations - The participation model of private capital in the energy sector is evolving from a focus on production to a comprehensive solution involving "technology + products + services" [10]. - Companies are encouraged to strengthen their technological capabilities and innovate their business models to transition from traditional suppliers to integrated service providers [10]. - Long-term planning is emphasized as essential for companies to navigate market cycles, with significant investments in R&D and technology innovation being crucial for future competitiveness [10][13]. Group 4: Financing Solutions - Infrastructure REITs have emerged as a vital tool to address financing challenges for private investment projects, with 105 REITs projects recommended and 83 listed, raising a total of 207 billion yuan [12]. - REITs provide a "exit channel" for private capital, facilitating a cycle of investment, operation, exit, and reinvestment [12]. - The energy sector will enhance mechanisms for private capital participation in major projects, refining shareholding requirements and promoting fair competition [12].