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]

Core Viewpoint - The company, Jiaze New Energy, reported significant revenue and profit growth in its 2025 semi-annual report, driven by the rapid growth of new energy installations and ongoing optimization of the energy structure in the industry [1] Financial Performance - The company achieved operating revenue of 1.31 billion yuan, a 5.87% increase from 1.24 billion yuan in the same period last year [1] - The net profit attributable to shareholders reached 460 million yuan, reflecting an 11.59% year-on-year growth, indicating a stronger profit growth rate compared to revenue [1] Business Operations - The company operates through five main segments: new energy power station development, operation and sale, operation management services, rooftop distributed photovoltaic systems, and new energy industry fund [2] - As of the end of the reporting period, the company had a cumulative installed capacity of 2,315.643 MW, including 2,041 MW from wind power and 238.268 MW from rooftop distributed photovoltaic systems [2] - The company has 2,332.4 MW of wind power projects under construction or planned, ensuring ample resources for future capacity expansion and power generation growth [2] Industry Collaboration - The company has successfully launched collaborative projects with leading industry players, such as the new energy equipment manufacturing park in Heilongjiang and the zero-carbon new energy smart equipment industrial park in Guangxi [3] - The company received approval from the China Securities Regulatory Commission for a stock issuance plan to raise up to 1.2 billion yuan, which will enhance its working capital and financial structure [3] Future Outlook - The company plans to continue expanding its installed capacity and enhancing the layout of rooftop distributed photovoltaic systems in load centers, aiming for high-quality development in the green energy sector [4]

Group 1 - The core point of the article is that Jiaze New Energy (SH 601619) announced the convening of its 41st board meeting on August 27, 2025, to discuss the early dissolution of a wind energy development fund partnership [1] - In the fiscal year 2024, the revenue composition of Jiaze New Energy is as follows: 94.18% from new energy power station development, construction, operation, and sale; 2.72% from rooftop distributed photovoltaic (smart energy); 2.55% from power asset management; and 0.55% from other businesses [1]

Core Insights - The company reported a revenue of RMB 6.845 billion for the first half of 2025, representing a 3.30% increase compared to the same period in 2024 [1] - The pre-tax profit was RMB 2.358 billion, showing a 1.37% increase year-on-year [1] - The profit attributable to the owners of the parent company was RMB 1.688 billion, which is a decrease of 4.37% compared to 2024 [1] - Basic and diluted earnings per share were RMB 0.2046 [1] Financial Performance - The total installed capacity of the group reached 19,068.60 MW, an increase of 3,513.88 MW, or 22.59% year-on-year [1] - The electricity generation amounted to 18,875,826 MWh, reflecting a growth of 10.22% [1] - The company secured construction project indicators of 2,250.00 MW in the first half of 2025 [1] - Total assets were RMB 116.432 billion, with a debt-to-asset ratio of 66.67% [1] Revenue Drivers - The increase in revenue is primarily attributed to the rise in electricity sales [1]

Core Viewpoint - Datang New Energy (01798) reported a slight increase in revenue and pre-tax profit for the first half of 2025, but a decrease in profit attributable to shareholders compared to the same period in 2024 [1] Financial Performance - Revenue for the first half of 2025 reached RMB 6.845 billion, an increase of 3.30% compared to the same period in 2024 [1] - Pre-tax profit amounted to RMB 2.358 billion, reflecting a growth of 1.37% year-on-year [1] - Profit attributable to shareholders decreased to RMB 1.688 billion, down 4.37% from the previous year [1] - Basic and diluted earnings per share were RMB 0.2046 [1] Operational Metrics - As of June 30, 2025, the company's installed capacity was 19,068.60 MW, an increase of 3,513.88 MW, representing a growth of 22.59% year-on-year [1] - Power generation reached 18,875,826 MWh, marking a 10.22% increase [1] - The company secured construction project indicators totaling 2,250.00 MW in the first half of 2025 [1] Balance Sheet - Total assets amounted to RMB 116.432 billion, with a debt-to-asset ratio of 66.67% [1]

嘉泽新能源股份有限公司 2025年半年度主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据《上海证券交易所上市公司自律监管指引第 3 号—行业信息 披露》之《第三号—电力》的要求，嘉泽新能源股份有限公司（以下 简称"公司"） 现将 2025 年半年度主要经营数据（未经审计）公告 如下： | | 第二季度 | | 半年度发电量 | | 第二季度 | | 半年度上网电量 | | 上网电价 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 发电量 （万千瓦时） | | (万千瓦时) | | 上网电量 （万千瓦时） | | (万千瓦时) | | (元/千瓦时) | | 经营地区/ | 2025 年 | 2025 年 | 2024 年 | 同比（%） | 2025 年 | 2025 年 | 2024 年 | 同比（%） | 2025 年 | | 发电类型 | 4-6 月 | 1-6 月 | 1-6 月 | | 4-6 月 | 1-6 ...

Group 1 - A new company, 大唐（唐山市丰南区）新能源有限公司, has been established with a registered capital of 500,000 RMB [1] - The legal representative of the company is Liu Jun [1] - The company is fully owned by 大唐发电 (Datang Power, stock code: 601991) [1] Group 2 - The business scope of the new company includes wind power generation technology services, power generation technology services, and solar power generation technology services [1]

Core Viewpoint - The article discusses the implementation plan by Hubei Province to promote high-quality development of renewable energy through a market-oriented pricing reform, addressing various challenges in the sector and transitioning from scale expansion to quality and efficiency improvement [2] Group 1: Four Support Points - Support Point One: Establishing a price settlement mechanism to optimize market design and reshape the value system of renewable energy, including a sustainable price settlement mechanism that compensates for price fluctuations [3][4] - Support Point Two: Ensuring stable expectations for existing projects while promoting efficiency for new projects through a competitive bidding mechanism, maintaining a mechanism price of 0.4161 yuan/kWh for existing projects [5][6] - Support Point Three: Innovating entry methods for distributed renewable energy projects by allowing aggregation for bidding, enabling 420,000 distributed projects to participate in the market [7] - Support Point Four: Enhancing the system's support capacity for renewable energy by linking project revenues to system contributions and establishing technical standards for project compliance [8]

Core Insights - The Shanghai Cooperation Organization (SCO) summit in Tianjin achieved 100% green electricity supply for all venues, marking the first time this has been accomplished for the summit [1] - The green electricity transaction involved 1 million kilowatt-hours, reducing standard coal consumption by 320 tons and cutting carbon dioxide emissions by 800 tons [1] - The Tianjin Green Electricity Certificate Service Center facilitated the purchase of 2,250 green certificates for key service locations, equating to an additional 225 million kilowatt-hours of green electricity, further reducing standard coal consumption by 720 tons and carbon dioxide emissions by 1,794 tons [1] Group 1 - The local renewable energy companies involved in the green electricity supply include the Guoneng Longyuan Bohua Photovoltaic Power Station and the Gangnan Wind Power Plant [3] - State Grid Tianjin Electric Power has been upgrading infrastructure and optimizing the local grid to enhance stability and reliability for green electricity delivery [3] - Since 2025, the company has integrated 206 million kilowatts of new energy capacity from 27 renewable energy enterprises into the grid [3] Group 2 - The green electricity market in Tianjin has seen significant growth, with market transactions reaching 16.087 billion kilowatt-hours this year, nearly doubling from the previous year [5] - The Tianjin Green Electricity Certificate Service Center has provided full green electricity supply to 214 enterprises, totaling 7.497 billion kilowatt-hours [5] - During the summit, over 4,200 personnel and 1,800 vehicles were deployed for power supply assurance, with 24-hour readiness across 101 grid-based power stations [5] Group 3 - The new panoramic power supply command platform was utilized for real-time monitoring of electricity supply from the main grid to venue equipment, enhancing resource allocation [6] - The platform is expected to improve overall inspection efficiency by approximately 65% through intelligent fault warning and rapid response capabilities [6] - Advanced technologies such as intelligent inspection systems and infrared detection devices were employed to ensure urban power supply security [6]

Core Viewpoint - The article outlines the implementation plan for the market-oriented reform of renewable energy grid pricing in Hubei Province, aiming to promote high-quality development of renewable energy through comprehensive market participation and pricing mechanisms [2][10][19]. Group 1: Market Participation and Pricing Mechanism - All wind and solar power projects in Hubei will participate in market trading, with grid prices determined through market transactions [3][11]. - The mechanism price for renewable energy is set at 0.4161 yuan per kilowatt-hour, with specific limits on the proportion of mechanism electricity for different types of projects [13][12]. - The execution period for the mechanism starts in October 2025 and lasts until the projects reach a lifespan of 20 years, with specific operational hour requirements for wind and solar projects [4][12]. Group 2: Incremental Project Bidding Mechanism - A bidding mechanism will be implemented for incremental projects starting from June 1, 2025, with annual adjustments based on renewable energy consumption responsibility and user capacity [5][14]. - The bidding process will be organized by the provincial development and reform commission, with a focus on reasonable cost-benefit analysis and market conditions [6][15]. - The execution period for selected incremental projects is tentatively set at 12 years, with potential extensions based on self-consumption rates [16][14]. Group 3: Auxiliary Services and Support Mechanisms - The article emphasizes the need to establish a price mechanism for auxiliary services, ensuring that costs are shared among users and that the market operates efficiently [7][18]. - It also highlights the importance of optimizing the procurement mechanism for electricity and adjusting coal power capacity pricing standards to support renewable energy integration [8][18]. - The plan includes measures to ensure that renewable energy projects do not double benefit from different pricing mechanisms and that their performance is accurately assessed [12][18]. Group 4: Implementation and Monitoring - The provincial development and reform commission will enhance policy communication and monitor market price fluctuations, ensuring that the pricing signals effectively guide renewable energy development [19][18]. - The implementation of this plan is set to begin on October 1, 2025, with existing policies being superseded by this new framework [19].