证券代码：002128 证券简称：电投能源 内蒙古电投能源股份有限公司投资者关系活动记录表 | 投资者关系活动 □特定对象调研□分析师会议 | | | --- | --- | | 类别 | □媒体采访√业绩说明会 | | □新闻发布会□路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | | 参与单位名称及 投资者网上提问 | | | 人员姓名 | | | 时间 2025 年 7 月 | 11 日(周五)16：00~18:00 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） | | 采用网络远程的方式召开业绩说明会 | | | 上市公司接待人 1、董事会秘书李冬 | | | 员姓名 2、资本部主任刘学民 | 投资者提出的问题及公司回复情况 | | | 公司就投资者在本次说明会中提出的问题进行了回复： 1、董秘你好，请问公司氧化铝来源是哪里？一般维持多长 | | 时间的库存？ | | | | 您好。氧化铝主要来源为山东和河北地区，库存一般 20 天 | | 左右。感谢您的关注。 | | | 投资者关系活动 | 2、作为央企都会表率 ...

近期，我国首套抗浪型深远海漂浮式光伏平台——华能"黄海一号"顺利完成"风光共平台"升级改造与调试工作，实现了深远海"垂 直轴风机+漂浮式光伏"融合应用，实现了"风光同场、风光同台"集约化开发，持续探索提升海域空间利用效率取得新成果。 华能"黄海一号"漂浮式光伏平台由华能山东烟台电厂投资建设、华能清洁能源技术研究院自主设计研发，是我国首套抗浪型深远 海漂浮式光伏平台，于2024年10月在华能山东半岛南4号海上风电场投入运行，目前已对平台系统进行了适海性试验，验证了结构、 电气、监测系统的设计可靠性。 【责任编辑：王少晨 】 为进一步发挥"黄海一号"平台能源承载潜力，打造多能源业态综合实证平台，并满足集约用海需求，在一期平面空间融合形态基 础上，华能山东烟台电厂与华能清能院共同打造"垂直轴风机+漂浮式光伏"的共平台设计，在"黄海一号"上加设两台由中国华能自主研 发的"水滴型"垂直轴风机，并重点对平台结构适应性、风机布局与浮力系统的相互影响等关键问题进行了研究论证，同时开发风光协 同控制算法协调风机与光伏的出力特性，并构建了覆盖结构响应、环境参数与风光发电性能的融合监测系统，形成了风光能源梯度利 用综合平台。 华能 ...

Group 1 - The core viewpoint of the articles highlights the significant shift in China's energy landscape, with renewable energy sources expected to account for over 45% of total installed capacity by 2025, driven by both economic growth and energy transition [1][2][5] - The National Energy Administration reported that the maximum electricity load reached a historical high of 1.465 billion kilowatts on July 4, 2025, an increase of approximately 200 million kilowatts from late June, and nearly 150 million kilowatts from the same period last year [1] - The report from the State Grid Energy Research Institute predicts that by the end of 2025, the total installed capacity in China will reach 3.99 billion kilowatts, with a 5% year-on-year increase in total electricity consumption expected to exceed 10 trillion kilowatt-hours [2] Group 2 - The increase in the share of renewable energy installations is seen as a necessary step for China to achieve its "dual carbon" goals, supported by technological advancements, policy frameworks, and market evolution [3] - The challenges remain, particularly in regions like East and Central China, where power supply and demand are still tight, necessitating the development of a new power system integrating renewable energy, storage, and digitalization [3] - The capital market is becoming increasingly active in supporting the expansion of renewable energy generation capacity, with state-owned power enterprises optimizing their capital structures and utilizing various financing tools such as green bonds and asset-backed securities [4][5]

华电新能源集团股份有限公司 Huadian New Energy Group Corporation Limited （福建省福州市鼓楼区五四路 75 号福建外贸大厦 32 层 02 单元） 首次公开发行股票并在主板上市 招股说明书 联席保荐机构（主承销商） 北京市朝阳区建国门外大街 1 号国贸 深圳市前海深港合作区南山街道桂湾五 大厦 2 座 27 层及 28 层 路 128 号前海深港基金小镇 B7 栋 401 联席主承销商 广东省深圳市福田区中心三 路 8 号 卓越时代广场（二期）北座 北京市朝阳区安立路 66 号 4 号楼 中国（四川）自由贸易试验区成 都市高新区交子大道 177 号 中海国际中心 B 座 17 楼 中国（上海）自由贸易 试验区商城路 618 号 华电新能源集团股份有限公司 招股说明书 声 明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行人注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈 利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之相反的声明均 属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与 ...

湖南大学电气与信息工程学院副院长、博士生导师黎富海对《证券日报》记者表示："'宁电入湘'打破 西部地区新能源发电产业的瓶颈，改变了'发得出、送不走、用不上'的局面，为后续新疆维吾尔自治 区、青海、甘肃等'沙戈荒'发电项目树立了标杆。从上游来看，新能源发电设备生产企业会加速生产， 助力西北新能源发电项目建设。从中游来看，输变电设备生产企业会紧紧跟随国家电网招投标脚步，助 力中西部电力通道建设。从下游来看，中部地区用电企业有望平稳迎峰度夏。企业借助绿电消费实现节 能减排，还可为工业碳配额交易创造空间。" 在"宁电入湘"的发电端上，突破瓶颈帮助企业显著减少"弃风弃光"，提升发电小时数和营收稳定性，大 大鼓舞了新能源发电设备生产企业的生产脚步。湖南能源集团有限公司携手三一重能股份有限公司在宁 夏回族自治区吴忠市红寺堡区推进300万千瓦风光基地项目，不仅带动光伏设备、风电设备需求，还带 动变压器、换流设备、储能系统、电池及集成商采购订单。湖南和宁夏回族自治区共建的新能源装备制 造产业园更吸引到多家上市公司的产业项目落地，形成本地化供应链，降低物流成本。 特变电工工作人员向《证券日报》记者表示："'宁电入湘'工程线路复杂 ...

文 | 海南省发展和改革委员会 7月10日，海南省发展改革委发布《 关于海南省深化新能源上网电价市场化改革的实施方案 （征求意见稿） 》。 2026年1月1日起，全省新能源（所有风电、太阳能发电，下同）项目 上网电量全部进入电力市场，上网电价通过市场交易形成。 新能源项目参与市场 交易的方式按照南方区域电力市场交易规则执行，鼓励 具备条件的分布式、分散式新能源聚合后报量报价参与市场交易 ，未报量或报价参与市场的默认 作为价格接受者参与市场交易。后续根据市场建设情况，逐步放开各类电源进入市场参与交易。 适当放宽现货市场限价 ，现货市场申报、出清价格 上限考虑 目前省内燃料综合成本和用户承受能力等因素确定；申报、出清价格 下限考虑 新能源在电 力市场外可获得的绿证收益、财政补贴等因素确定，后续根据市场运行情况适时调整。接受市场形成价格的新能源项目，结算价格按照所在节点的实时市 场分时价格确定。价格上下限等具体参数见附表。 明确辅助服务费用分摊方式。 现货市场 未连续运行时 ，辅助服务市场费用由 发电侧分摊 （不含分布式新能源）；现货市场 连续运行时 ，辅助服务市 场费用由 工商业用户用电量和未参与海南省电能量市场 ...

Core Viewpoint - The green electricity direct connection model is expected to benefit export-oriented enterprises' demand for direct green electricity, enhancing the utilization rate of power generation and helping users reduce carbon emissions [1][2]. Group 1: New Consumption Model - The green electricity direct connection model addresses the carbon reduction needs of enterprises, evolving from previous regional pilot projects integrating source, network, load, and storage [2]. - With the EU carbon border tax policy set to be implemented in 2026, export-oriented enterprises face significant carbon reduction pressure, making the green electricity direct connection model advantageous for clear physical tracing of electricity consumption [2]. Group 2: Cost Savings in Direct Connection - Although self-generated electricity under the green electricity direct connection model requires payment of various fees, it is expected to save costs in several areas, including: 1. Line loss costs due to lower line loss rates compared to the large grid [3]. 2. Transmission and distribution fees, which are significantly lower than purchasing electricity from the large grid [3]. 3. Policy cross-subsidies, which may be exempted for self-generated electricity based on supportive policies in some provinces [3]. 4. System operation fees, which are still applicable but reduced due to decreased reliance on the large grid [3]. 5. Government funds and surcharges, which will still be required as per policy [3]. - The estimated savings on intermediate electricity costs for self-generated electricity in Jiangsu, Zhejiang, Shandong, and Guangdong provinces range from 0.09 to 0.13 yuan/kWh, indicating significant cost reduction [3]. Group 3: Attractive Return Levels - The green electricity direct connection projects are expected to yield higher returns due to enhanced consumption capacity, reduced auxiliary service costs, and savings from intermediate fees [4]. - Simulations indicate that under the current coastal photovoltaic cost and price levels, the capital return rate for projects using the green electricity direct connection model could reach around 9%, making it attractive for operators amid uncertainties in regional price settlement mechanisms [4].

Core Viewpoint - China Three Gorges New Energy (Group) Co., Ltd. reported a total power generation of 19.531 billion kWh in Q2 2025, representing a year-on-year increase of 6.24% [1] Group 1: Power Generation Performance - In Q2 2025, the total power generation was 19.531 billion kWh, with wind power contributing 11.693 billion kWh, an increase of 5.93% year-on-year [1] - Onshore wind power generation reached 8.492 billion kWh, up 10.24% year-on-year, while offshore wind power generation was 3.201 billion kWh, down 4.02% [1] - Solar power generation totaled 7.677 billion kWh, marking an 8.16% increase year-on-year, and independent energy storage generated 0.161 billion kWh, a significant increase of 85.06% [1] Group 2: Cumulative Power Generation - For the first half of 2025, the cumulative total power generation was 39.314 billion kWh, with wind power contributing 25.061 billion kWh, an increase of 8.69% year-on-year [1] - Onshore wind power accounted for 17.524 billion kWh, up 15.21% year-on-year, while offshore wind power was 7.537 billion kWh, down 3.95% [1] - Cumulative solar power generation reached 13.911 billion kWh, a 10.25% increase year-on-year, and independent energy storage generated 0.342 billion kWh, an increase of 84.86% [1]

Core Viewpoint - The "14th Five-Year Plan" has achieved significant progress in China's economic and social development, particularly in green development, which has become a prominent feature of contemporary China [1] Group 1: Achievements in Green Development - The concept of "green mountains and clear waters are as valuable as mountains of gold and silver" has gained widespread acceptance, leading to improved environmental quality across urban and rural areas [1] - Forest coverage has increased to over 25%, with new forest area equivalent to the size of Shaanxi Province, contributing to one-fourth of the global increase in greening [1] - The proportion of days with good air quality has stabilized at around 87%, an increase of 3 percentage points compared to the "13th Five-Year Plan" period [1] - Major rivers like the Yangtze and Yellow Rivers have achieved Class II water quality standards throughout their main streams [1] Group 2: Energy and Resource Utilization - The scale of installed renewable energy generation has historically surpassed that of coal power, establishing the world's largest clean power system, with one-third of electricity being green energy [2] - Over 20% of raw materials used in steel production come from recycled scrap, demonstrating significant energy savings and carbon reduction [3] Group 3: Future Opportunities in Green Investment - The construction of a new energy system, including large-scale wind and solar bases, new energy storage, smart grids, and hydrogen industry, presents vast opportunities [4] - Industrial green and low-carbon transformation will focus on high-energy-consuming sectors such as steel, non-ferrous metals, building materials, and chemicals [4] - Development of a green transportation system, including the entire supply chain for new energy vehicles and smart urban traffic systems, is essential [4] - Enhancements in urban and rural living environments through green buildings and resilient cities are prioritized [4] - Ecological restoration and carbon sink enhancement, including forestry, marine, and grassland carbon sinks, are critical areas for investment [4] - Innovations in green technology and services, such as advanced low-carbon technologies and environmental big data, are also highlighted [4]

国泰海通证券：近年来伴随着新能源装机高增，新能源发电量高速增长，对煤电的挤压效益日益明显， 市场担忧在新能源的挤压下未来煤电将进入负增长阶段，从而导致电煤消费进入下行通道。而新能源高 速发展时代已过，2025年起随着新能源"430、531"新政出台，并且考虑到当前电网巨大的消纳压力和新 能源项目盈利性下降明显，国泰海通判断未来新能源发电将减速，对煤电的边际冲击减弱，电煤的需求 拐点或将在2027年。从板块推荐角度，国泰海通推荐业绩风险释放，板块龙头企业。 中信建投：中长期来看，医疗器械行业的产业趋势向好，创新、并购、国际化将推动中国器械龙头逐步 成长为全球龙头。前期行业承压主要与政策影响有关，多数公司全年整体呈现前低后高的业绩增速趋 势，下半年业绩改善的趋势更为明显。细分板块来看，医疗设备板块部分企业受益于行业招标数据高增 长和库存加速消化、业绩将逐步改善，高值耗材板块部分企业有望受益新产品逐步放量和集采优化政 策、业绩确定性和估值修复。看好脑机接口、外骨骼机器人、AI医疗、手术机器人等新科技方向的投 资机会。 新华财经北京7月9日电A股三大指数7月9日全天冲高回落，沪指3500点得而复失，最终微幅收跌；创业 ...