香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 根 據 中 華 人 民 共 和 國（「中 國」）有 關 法 例 規 定，於 公 司 債 券 存 續 期 間， 中 國 大 唐 集 團 新 能 源 股 份 有 限 公 司（「本公司」）須 在 每 年8月31日或之 前 披 露 根 據 中 國 會 計 準 則 編 製 的 公 司 債 券 半 年 度 報 告。本 公 告 隨 附 的 文 件 為 根 據 公 司 債 券 的 有 關 要 求，本 公 司 於 上 海 證 券 交 易 所（網 址： http://www.sse.com.cn）披 露 的《中 國 大 唐 集 團 新 能 源 股 份 有 限 公 司 公 司 債 券 中 期 報 告（2025年）》及《中 國 大 唐 集 團 新 能 源 股 份 有 限 公 ...

三峡能源8月29日披露半年报，公司上半年实现营业收入147.36亿元，同比下降2.19%；归属于上市公司 股东的净利润38.15亿元，同比下降5.48%；基本每股收益0.1333元。 ...

Group 1 - The core viewpoint highlights the significant shift in energy production in Anhui Province, where renewable energy sources have become the primary power source, surpassing coal power for the first time [2][3] - In Anhui, the maximum electricity load reached a historical record of 68.57 million kilowatts, with renewable energy contributing 33 million kilowatts, accounting for 48% of the total output [2] - The proportion of coal power in Anhui's total installed capacity has decreased from over 65% in 2020 to 41.6% by July this year, while wind and solar power now account for 46.4% of the total installed capacity [2] Group 2 - Other provinces in China, such as Gansu, Qinghai, and Jiangsu, have also seen their renewable energy generation capacity exceed that of coal, marking a broader trend in the country's energy landscape [3] - The steady increase in renewable energy generation is driving the transformation of the power system and supporting the green transition of the economy, aligning with the dual carbon goals [3] - In the first half of 2025, Anhui became the leading province in China for new energy vehicle production, reaching 730,900 units, supported by a comprehensive and efficient charging network [3]

Core Viewpoint - China Resources Power has established a new wind power company in Heze with a registered capital of approximately 460 million RMB [1] Company Summary - The newly formed company is named China Resources Wind Power (Heze Mudan District) Co., Ltd. and is fully owned by China Resources Power New Energy Investment Co., Ltd. [1] - The legal representative of the new company is Zhao Baojian [1] - The business scope includes wind power generation technology services, solar power generation technology services, and investment activities using self-owned funds [1]

Core Viewpoint - Recently, China Resources Wind Power (Heze Peony District) Co., Ltd. has been established with a registered capital of approximately 460 million yuan, focusing on wind and solar power technology services and investment activities [1] Company Summary - The legal representative of the newly established company is Zhao Baojian [1] - The company is wholly owned by China Resources Power New Energy Investment Co., Ltd. [1] Industry Summary - The company's business scope includes wind power generation technology services and solar power generation technology services [1] - The establishment of this company indicates a continued investment and focus on renewable energy sources within the industry [1]

Core Viewpoint - The establishment of Zhangye Huangdian New Energy Co., Ltd. indicates a growing focus on renewable energy and power generation in the region, with significant backing from major stakeholders in the energy sector [1] Company Summary - Zhangye Huangdian New Energy Co., Ltd. has been established with a registered capital of 62.88 million yuan [1] - The company is involved in various activities including power generation, transmission, and distribution services, as well as power generation technology and energy storage technology services [1] - The company is wholly owned by Qinghai Huanghe Upper Reaches Hydropower Development Co., Ltd., which is backed by major stakeholders such as State Power Investment Corporation and China Life Insurance [1]

Core Viewpoint - The company reported steady growth in performance, with significant contributions from the new energy business, achieving operating revenue of 4.683 billion yuan, a year-on-year increase of 0.24%, and a net profit attributable to shareholders of 445 million yuan, a year-on-year increase of 3% [2] Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of 4.683 billion yuan, which is essentially flat year-on-year [2] - The net profit attributable to shareholders reached 445 million yuan, reflecting a year-on-year growth of 3% [2] - The net profit after deducting non-recurring items was 416 million yuan, showing a year-on-year increase of 7% [2] Group 2: New Energy Business - The rapid development and profitability improvement of the new energy business were the main drivers of performance growth, with nearly 1 billion yuan in net profit generated from this segment in the first half of the year [2] - The energy storage cell business achieved full production and sales through deepened cooperation with Yiwei Lithium Energy, significantly improving operational conditions [2][3] - The company is executing a "dual-drive strategy" of "environmental protection + new energy," with the new energy business entering a fast development phase [3] Group 3: Environmental Business - The traditional environmental protection business remains stable and healthy, providing a solid performance foundation, with new environmental equipment engineering contracts totaling 5.370 billion yuan during the period [2] - The company’s traditional air pollution control business maintains a leading position, with a balanced business structure, where the power industry accounted for 61.61% of new orders [4] - The company is proactively responding to the clean and efficient transformation of coal power and the ultra-low emission renovation needs of non-electric industries [4] Group 4: Strategic Initiatives - The company is strategically entering emerging sectors, having acquired a 20% stake in Zhejiang Jitai Intelligent Technology Co., aiming to penetrate the special robot sector in the energy field [4] - This move is intended to leverage the company's extensive customer resources in power plants and form strategic synergies with Jitai Intelligent in technology and channels [4] - The company is also focusing on the electrification opportunities in mining trucks, with independent research and development of electric mining trucks progressing smoothly [3] Group 5: Profit Forecast - The company is expected to achieve operating revenues of 12.033 billion yuan, 14.009 billion yuan, and 16.360 billion yuan for 2025-2027, with year-on-year growth rates of 20.09%, 16.43%, and 16.78% respectively [4] - The net profit attributable to shareholders is projected to be 1.226 billion yuan, 1.423 billion yuan, and 1.705 billion yuan for the same period, with year-on-year growth rates of 47.69%, 16.05%, and 19.77% respectively [4] - Based on the closing price on August 27, 2025, the corresponding PE ratios are expected to be 12.88, 11.10, and 9.27 times, with EPS of 0.97, 1.12, and 1.34 yuan respectively [4]

Core Viewpoint - The company demonstrates steady revenue growth and strong profitability, with significant contributions from its environmental and new energy sectors [1][2]. Financial Performance - In the first half of 2025, the company achieved revenue of 4.68 billion yuan, a year-on-year increase of 0.2% [1]. - The environmental equipment manufacturing segment generated revenue of 3.04 billion yuan (down 25.7% YoY), while project operations brought in 340 million yuan (down 22.5% YoY) [1]. - Soil remediation business revenue reached 40.91 million yuan (up 118.9% YoY), and new energy business revenue soared to 1.15 billion yuan (up 3180.1% YoY) [1]. - The net profit attributable to shareholders was 450 million yuan, reflecting a 3.3% increase YoY [1]. - The overall gross margin improved by 0.9 percentage points to 24.4%, with specific margins for segments as follows: environmental equipment manufacturing at 27.1%, project operations at 25.1%, soil remediation at 13.7%, and new energy at 18.2% [1]. Operational Highlights - The company secured new contracts worth 5.37 billion yuan in the first half of 2025, with the power industry accounting for 61.6% and non-power sectors 38.4% [2]. - The total backlog of environmental engineering contracts stood at 19.97 billion yuan, providing a solid revenue cushion for the future [2]. - The new energy business is becoming a significant contributor, with nearly 100 million yuan in net profit from clean energy projects [2]. Strategic Initiatives - The company is actively expanding its international market presence, successfully winning bids for projects in Indonesia, the Philippines, and Kazakhstan [2]. - The partnership with Yiyuan Lithium Energy has led to improved production and quality in the energy storage business, which has turned profitable [2]. - The company is focusing on electric mining vehicles and charging solutions, leveraging industry expertise to enhance its technological capabilities [2]. Investment Outlook - The company is rated as a "buy," with expectations for rapid profit growth in the coming years, projecting net profits of 1.1 billion, 1.49 billion, and 1.86 billion yuan for 2025, 2026, and 2027, respectively [3].

Group 1 - The establishment of China Resources Wind Power (Heze Peony District) Co., Ltd. has been officially registered with a legal representative named Zhao Baojian [1] - The registered capital of the new company is approximately 460 million RMB [1] - The business scope includes wind power generation technology services, solar power generation technology services, and investment activities using self-owned funds [1] Group 2 - The company is wholly owned by China Resources Power New Energy Investment Co., Ltd. [1]

Group 1 - The establishment of Huadian Jibei (Qinglong Manchu Autonomous County) New Energy Co., Ltd. has been reported, with a registered capital of 10 million yuan [1] - The company's business scope includes power generation technology services, wind power generation technology services, and solar power generation technology services [1] - Huadian Jibei New Energy Co., Ltd. is wholly owned by Huadian New Energy (600930) [1]