明阳智慧能源集团股份公司 章 程 明阳智慧能源集团股份公司 章 程 第一章 总则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组织和行 为，根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国 证券法》（以下简称《证券法》）、《境内企业境外发行证券和上市管理试行办法》 和其他有关规定，制定本章程。 第二条 公司系依照《公司法》和中华人民共和国其他有关规定成立的股份公 司（以下简称"公司"）。 公司由原广东明阳风电产业集团有限公司全体股东共同作为发起人，以原广东 明阳风电产业集团有限公司净资产整体折股进行整体变更的方式设立，于 2017 年 3 月 30 日在中山市市场监督管理局登记注册，取得营业执照，统一社会信用代码为 第三条 公司于 2018 年 12 月 25 日经中国证券监督管理委员会（以下简称"中 国证监会"）核准，首次向社会公众发行人民币普通股（以下简称"A 股"）275,900,000 股，于 2019 年 1 月 23 日在上海证券交易所上市。 公司于 2022 年 7 月 4 日经中国证监会核准， 发行 33,660,500 份全球存托凭证 （以 下简称"GDR ...

转自：草原云 末伏天气下的二连浩特，碧空如洗。站在内蒙古能源集团新能源公司锡林郭勒中心大门口，向远处眺 望，250台超百米高的白色风机排成"海上舰队"。桨叶起舞，将滚滚绿电送入华北电网。 内蒙古能源集团新能源公司锡林郭勒中心周围的风电场 张奥光 摄 "过去'看天吃饭'，如今'知天而作'。"内蒙古能源集团新能源公司锡林郭勒中心安全生产科技部部长王 强指着控制室大屏说，风机每转一圈可发"绿电"70度，而其转与不转、转快与转慢，都依赖气象智慧预 知"先机"。 气象服务就是生产力 风电的"难点"在于，风力条件导致发电功率的波动。 根据历史气象数据，在二连浩特，风力条件适宜开展风能发电的时间长达7802小时。然而，一阵狂风或 一次静稳天气，其带来的发电能效波动，如若准备不及时，都可能波及电网安全。 同时，如能提早、准确掌握风力的大小，电力公司就能提前统筹风电与火电之间的发电计划，从而获得 更好的经济效益。 因此，国内外大型风电项目都非常重视气象数据服务。圈内流行这么一句话："气象服务就是生产力。" 自2024年，内蒙古气象局联合内蒙古能源集团等12家单位，组建全国首个"沙戈荒"新能源气象服务创新 联合体，开展风速、功率 ...

格隆汇8月14日丨云南能投(002053.SZ)公布，为紧紧把握战略发展机遇，促进公司新能源业务的做强做 优做大，同意会泽云能清洁能源有限公司(简称"会泽公司")投资建设披嘎打厂箐光伏发电项目，项目额 定容量35MW，项目总投资1.69亿元(含流动资金)。 ...

Group 1 - The core point of the article is the launch of the world's largest hydropower project, the Yarlung Tsangpo River cascade power station, which is expected to generate an annual output exceeding 300 billion kilowatt-hours, surpassing the Three Gorges Dam [1] - In 2024, China is set to add 24 GW of new power generation capacity overseas, with 52% coming from renewable energy sources, establishing a significant "power output belt" across Asia, Africa, and Latin America [1] - China is promoting a new energy cooperation model in Belt and Road countries, utilizing RMB for pricing and settlement, as exemplified by a 500 MW wind power agreement with Uzbekistan that operates entirely in RMB [3] Group 2 - The concept of "electricity RMB" is proposed as a potential new anchor currency, leveraging the global demand for electricity as a necessity, especially as countries seek alternatives to oil [5][6] - Historical comparisons are made to the use of salt as a backing for currency in early China, suggesting that a stable electricity pricing system could provide a similar backing for the RMB [6][8] - The International Energy Agency (IEA) projects that global electric vehicle sales will exceed 17 million units in 2024, indicating a growing demand for electricity that could support the "electricity RMB" concept [8] Group 3 - The "electricity RMB" strategy is gaining traction in countries that are looking to avoid the dominance of the US dollar, as seen in projects like the 200 MW rooftop solar installation in Laos, which allows for direct RMB transactions [10][13] - The strategy is particularly appealing to developing nations that face high costs and volatility associated with dollar transactions, as RMB transactions offer lower interest rates and reduced fees [16][17] - The article discusses the potential for the "electricity RMB" to grow in a fragmented and decentralized world, where countries seek alternatives to the centralized dollar system [22][23] Group 4 - The article highlights the competitive landscape, noting that the US has begun to respond to China's initiatives with policies like the Inflation Reduction Act, which aims to protect its own energy market [24][26] - China's advantages in the energy sector include a complete supply chain and lower costs for renewable energy projects, making it an attractive partner for developing countries [27][30] - The ability of Chinese companies to operate in challenging environments gives them a competitive edge over US firms, as demonstrated by successful projects in Angola and Myanmar [31][33] Group 5 - The potential shift from a dollar-dominated system to an "electricity RMB" framework could significantly alter global financial dynamics, reducing reliance on the dollar and allowing for more stable pricing in RMB [34][39] - The article posits that as renewable energy becomes cheaper than oil, the foundations of the dollar's dominance could be undermined, leading to a new era of currency dynamics [40][41] - Ultimately, the success of the "electricity RMB" could empower Chinese manufacturers and workers, allowing them to benefit more directly from their labor without the constraints of dollar fluctuations [42]

Core Viewpoint - Guangzhou is actively promoting the construction of distributed photovoltaic projects, achieving an installed capacity of 3.6 million kilowatts, which is nearly six times the installed capacity at the beginning of the 14th Five-Year Plan [1] Group 1: Photovoltaic and Renewable Energy Initiatives - The city is implementing photovoltaic power generation facilities at key venues for the upcoming National Games, including the Olympic Center and Tianhe Sports Center, to embody the green and low-carbon philosophy [1] - Guangzhou has promoted over 1,200 hydrogen fuel cell vehicles in sectors such as construction waste transportation, sanitation, and logistics, leading the province in the demonstration application of fuel cell vehicles [1] - The installed capacity for biomass power generation in Guangzhou has reached 930,000 kilowatts [1] Group 2: Waste Management and Resource Recycling - Guangzhou has become the first mega-city in China to achieve "zero landfill" for original household waste by incinerating waste for power generation and processing biomass, thus ensuring resource recycling [1] - The city's waste treatment capacity has reached 32,000 tons per day, which can support waste management during the upcoming National Games [1] - There are approximately 3,100 recycling points in Guangzhou, meeting the requirement of one convenient recycling point for every 3,000 residents in urban areas and a "one village, one point" layout in rural areas [1]

Core Viewpoint - Fitch Ratings has downgraded the long-term foreign currency issuer default rating (IDR) and senior unsecured rating of Concord New Energy (00182.HK) from "BB-" to "B+", maintaining a stable outlook while withdrawing all ratings for commercial reasons. This downgrade reflects short-term pressures in the industry, but the report contains resilience signals worth noting [1]. Group 1: Resilience Factors - The interest coverage capability remains stable, with Fitch predicting that Concord's EBITDA interest coverage ratio will stay above 3.0 times under declining financing costs. This is more favorable compared to ReNew Energy, which has a higher rating but a lower coverage ratio [2]. - Concord's financial data shows a cash reserve of 2 billion yuan and short-term debt of 2.1 billion yuan, indicating a good match between available funds and current liabilities, thus confirming low liquidity risk [2]. - The sustainability of the project sale model is recognized, with Fitch noting that Concord's "develop-and-sell" business model is unaffected by the rating downgrade. The company is expected to continue selling 200-300 MW of assets annually, which will help improve overall profitability [3]. - The strategic reduction in capital expenditure is undervalued, with projected capital spending for 2025-2027 expected to decrease to 3.2-3.8 billion yuan from 5.3 billion yuan in 2024. This shift towards wind power projects aims to mitigate risks associated with solar projects [3]. Group 2: 2026 Breakthrough Point - The year 2026 is anticipated to be a turning point for both the industry supply-demand structure and the company's financial metrics, with several positive variables to watch [4]. - Twelve new ultra-high voltage transmission lines are set to be operational by 2025-2026, adding 80 million kilowatts of transmission capacity, which will alleviate the "consumption dilemma" in the "Three North" regions where Concord has significant wind power assets [4]. - There is a consensus that the utilization hours for wind and solar power generation will stabilize and recover, with expectations for a rebound in electricity prices due to improved supply-demand dynamics [5]. - The electricity pricing mechanism is transitioning from "disorderly decline" to a "stable range," with market price drops narrowing, which will benefit Concord as 75% of its electricity enjoys fixed pricing or long-term contracts [5][6]. Group 3: Risk and Opportunity Rebalancing - Market concerns about rising leverage and asset sale pace have been reflected in Concord's current valuation, which is at a near 10-year low with a dynamic P/E ratio of approximately 5.12 times and a P/B ratio of about 0.35 times [7]. - Recent insider buying by the chairman and independent directors signals confidence in the company's long-term prospects and valuation bottom [7]. - Fitch's report outlines clear improvement paths, with the EBITDA net leverage ratio needing to remain below 7.5 times and interest coverage above 3.0 times to trigger a rating upgrade [7]. - The operationalization of ultra-high voltage lines in 2026 is expected to enhance renewable energy utilization rates by 10%, while the core "develop-and-sell" strategy will continue to advance [8].

2025年8月12日晚间，惠誉发布评级更新报告，将协合新能源（00182.HK）长期外币发行人违约评级 （IDR）及高级无担保评级从"BB-"下调至"B+"，展望维持稳定，同时因商业原因撤销所有评级。此次 评级调整虽反映行业逆风下的短期压力，但报告中暗藏的韧性信号值得细品研读。 一、惠誉报告中的 "韧性密码"：三大正面支撑未被市场充分认知 每次当市场聚焦在评级下调事件时，往往会忽视惠誉对公司基本面的结构性肯定，这些支撑因素或构成 协合2026年转机的基础： 首先，利息覆盖能力具备稳定性。报告中，惠誉预测未来协合EBITDA利息覆盖倍数在融资成本下降的 情况下将维持在3.0倍以上，我们亦将其与惠誉提到的印度同行ReNew Energy进行比较，发现协合的 EBITDA利息覆盖倍数甚至比惠誉评级高一档的ReNew Energy更具优势，即使该公司杠杆率仍相对高 企，正如惠誉对协合新能源中期EBITDA净杠杆率的预测为 7.3-8.2倍，高于ReNew Energy的6.5-6.7倍， 但实际上公司是有能力确保债务的安全边际，另一方面也说明融资成本的持续优化给该公司带来了财务 韧性。 同时，惠誉基于协合2025年上 ...

Core Viewpoint - The article highlights the performance of Longyuan Power, a leading player in China's renewable energy sector, particularly in wind power, and its significant A/H share premium, indicating a favorable market perception of its stock [1][2]. Company Overview - Longyuan Power Group Co., Ltd. was established in 1993 and has undergone several organizational changes, currently under the State Energy Group [1]. - The company is recognized as "China's first renewable energy stock" and was successfully listed on the Hong Kong main board in 2009, followed by its A-share listing in 2022 [1]. - Longyuan Power is noted for being one of the earliest specialized companies in wind power development in China, pioneering offshore, low-wind-speed, and high-altitude wind power sectors [1]. Market Performance - On August 13, the Shanghai Composite Index rose by 0.48% to close at 3683.46 points, while the Hang Seng Index increased by 2.58% to 25613.67 points [1]. - Longyuan Power's A-shares closed at 16.87 yuan, down 0.24%, while its H-shares closed at 7.06 HKD, up 0.43% [1]. - The A/H share premium for Longyuan Power reached 161.41%, ranking it eighth among A/H shares [1]. Industry Position - Since 2015, Longyuan Power has maintained its position as the world's largest wind power operator, continuously leading industry development and technological advancements [1].

► | | ▶ 2 + 中国中煤能源集团有限公司 企查查APP显示，近日，中煤新能源（山阴）有限公司成立，注册资本9000万元，经营范围包含：发电业务、输电业务、供（配）电业务；输电、供电、受 电电力设施的安装、维修和试验等。企查查股权穿透显示，该公司由中国中煤能源集团有限公司旗下中煤集团山西华昱能源有限公司、中煤绿能科技（北 京）有限公司共同持股。 | 什奇奇 作可 c.com 全国企业信用查询 | 中煤新能源（山阴）有限公司 | | × 查一下 | | --- | --- | --- | --- | | 基本信息 6 | 法律诉讼 | 经营风险 | 经营信息 | | 法定代表人 | 李锋 | 注册资本 | 9000万元 | | 组织机构代码 | MAETCYFY-0 | 工商注册号 | | | 企业类型 | 有限责任公司（自然人投资或控 股) | 营业期限 | 2025-08-12 至 无固灵 | | 人员规模 | | 参保人数 | | | 所属地区 | 山西省朔州市山阴县 | 登记机关 | 山阴县市场监督管理 | | 国标行业 | 制造业 (C) | 英文名 | l | | 注册地址 | 山西省朔州市山 ...

人民财讯8月13日电，企查查APP显示，近日，中广核（西藏）新能源投资有限公司成立，法定代表人 为易金印，注册资本为1亿元，经营范围包含：发电业务、输电业务、供（配）电业务；风力发电技术 服务；太阳能发电技术服务；储能技术服务等。企查查股权穿透显示，该公司由中广核风电有限公司全 资持股。 转自：证券时报 ...