Core Viewpoint - Huadian New Energy is set to launch its IPO, which is expected to be the largest in A-shares this year, with a focus on renewable energy projects including wind and solar power [2][3]. Summary by Sections IPO Details - Huadian New Energy will be available for subscription this week, with a single account subscription limit of 1,490,500 shares and an issue price of 3.18 yuan per share, the lowest in A-shares this year [2]. - The company aims to raise approximately 15.8 billion yuan through this IPO, potentially reaching 18.17 billion yuan if the overallotment option is fully exercised [3]. Business Overview - The company is primarily engaged in the development, investment, and operation of renewable energy projects, focusing on wind and solar power [2]. - Huadian New Energy is one of the largest renewable energy companies in China, with a total installed capacity of 68.6171 million kilowatts as of December 31, 2024, including 32.0245 million kilowatts from wind power and 36.5926 million kilowatts from solar power [2][3]. Financial Performance - The projected revenues for Huadian New Energy from 2022 to 2024 are 24.673 billion yuan, 29.58 billion yuan, and 33.968 billion yuan, respectively, with net profits of 8.522 billion yuan, 9.62 billion yuan, and 8.831 billion yuan [3]. - The company has a comprehensive coverage of various types of renewable energy projects, including large-scale, offshore wind, and distributed solar projects [3].

Group 1: Trade and Economic Policies - Trump has signed 12 trade letters and plans to send them out on Monday, with significant announcements expected in the next two days regarding trade negotiations with the EU [2] - The White House is set to establish new unilateral tariff rates, which are likely to take effect from August 1, with rates potentially ranging from 10% to 70% [2] - The focus of broker strategies this week is on the progress of trade agreements and the sustainability of the "anti-involution" sector [5] Group 2: Market Trends and Predictions - The global market pricing is primarily influenced by the trade agreement progress expected on July 9, with a noted weakening of export growth compared to the first half of the year [5] - A-share market is expected to maintain an upward trend, with attention on sectors like wind power, thermal power, and robotics, which are anticipated to show positive mid-year performance [5] - The market may experience fluctuations in the coming weeks due to increased volatility in overseas markets, but a supportive liquidity environment is expected to sustain the current market conditions [5] Group 3: Industry Developments - The People's Bank of China has released a draft for the rules governing the cross-border payment system, which aims to lower entry barriers and simplify transaction processes, promoting the internationalization of the RMB [7] - The high temperatures affecting China are expected to boost air conditioning sales, with a correlation noted between temperature changes and air conditioning demand [10] - The State-owned Assets Supervision and Administration Commission is pushing for a comprehensive development strategy in the non-ferrous metals sector, focusing on resource exploration and investment [11] Group 4: Company Announcements - China Shipbuilding has received approval from the Shanghai Stock Exchange for the absorption and merger with China Heavy Industry [14] - Xinhua Insurance is investing 11.25 billion yuan in a private equity fund [14] - Huadian New Energy is set to launch an IPO with a subscription price of 3.18 yuan per share [13]

国家近年来出台各类政策措施以支持新能源行业的健康发展，各类资本快速入场，极大推进了我国新能源发 电行业的多元化发展。在新能源发电领域，经过多年的并购、自建，五大发电集团(华能集团、大唐集团、国 家能源集团、中国华电和国家电投)仍是第一梯队的主力军，占据市场龙头地位，拥有40%左右市场份额;其 他国有综合性能源企业和民营企业与新能源产业一起进入"快速扩张期"。 公司主要资产遍布国内31个省(直辖市、自治区)，全面覆盖国内风光资源丰沛和电力消费需求旺盛的区域， 是国内最大新能源公司之一。截至2024年6月30日，公司控股发电项目装机容量为5,402.65万千瓦，其中：风 电2,751.58万千瓦(市场份额5.89%)，太阳能发电2,651.07万千瓦(市场份额3.71%)。公司风电和太阳能发电装 机及发电量规模均位于行业前列。随着在建项目的投产和新项目资源的获取，未来公司将进一步提升装机规 模，运用更先进的设备与技术，在国内新能源行业的领先地位将得以巩固。 财务方面，于2021年度、2022年度、2023年度及2024年1-6月，公司实现营业收入分别约为217.41亿元、 246.73亿元、295.80亿元、17 ...

我们真诚地希望通过本次网上交流活动，让广大投资者更加充分地了解华电新能的投资价值，把握投资 机会，共同分享发展硕果。欢迎大家在接下来的路演环节踊跃提问。 大家好！ 最后，我谨代表中金公司，预祝华电新能本次发行取得圆满成功！谢谢大家！ 中金公司深感荣幸，能够担任华电新能本次发行上市的牵头保荐机构，对华电新能进行了全面深入的尽 职调查和发行准备，不断加深对华电新能的认识和了解，陪伴华电新能走过"十四五"期间高质量发展之 路，携手踏上上交所主板挂牌上市这一崭新的发展征程。 尊敬的各位领导、各位嘉宾和各位投资者： 欢迎各位参加华电新能源集团股份有限公司首次公开发行股票并在上交所主板上市的网上投资者交流 会。在此，请允许我代表中国国际金融股份有限公司，向今天所有参加网上投资者交流会的嘉宾和投资 者表示热烈的欢迎和衷心的感谢！ 作为五大发电集团之一的中国华电集团，以卓越的战略眼光顺应绿色发展新趋势，牢牢抓住时代赋予的 宝贵机遇，通过高效的资产整合和高质量发展，打造集团新能源发电领域的唯一平台和旗舰公司——华 电新能。华电新能的上市，将为A股市场注入兼具规模体量、战略高度与绿色基因的优质核心资产。我 们相信，华电新能此番登 ...

路演嘉宾合影 华电新能：奉献清洁能源创造美好生活 建设最具价值世界一流智慧新能源公司 ——华电新能源集团股份有限公司首次公开发行股票并在主板上市网上投资者交流会精彩回放 出席嘉宾 华电新能源集团股份有限公司党委书记、董事长、总经理 侯军虎 先生 华电新能源集团股份有限公司党委委员、财务负责人（总会计师） 吴 豪 先生 华电新能源集团股份有限公司董事会秘书 黄永坚 先生 中国国际金融股份有限公司投资银行部负责人、保荐业务负责人、董事总经理 孙 雷 先生 华泰联合证券有限责任公司保荐代表人 怀佳玮 先生 经营篇 问：公司的主营业务是什么？ 侯军虎：公司的主营业务是以风力发电、太阳能发电为主的新能源项目的开发、投资和运营，主要产品 是电力。除提供电力产品外，公司还积极践行社会责任，致力于促进经济发展、助力乡村振兴、参与戈 壁绿化等环保行动，实现积极的社会影响，将"双碳"目标落地和全社会可持续发展融入公司业务发展的 长期目标。 问：请介绍公司取得的商标情况。 侯军虎：截至2024年12月31日，公司及其控股子公司已取得的主要自有注册商标4项，被授权许可使用 的主要商标11项。 侯军虎：截至2024年12月31日，公司 ...

文 | 山西省发改委 近日，山西省发改委发布关于征求对《山西省深化新能源上网电价市场化改革促进新能源高 质量发展实施方案（征求意见稿）》意见建议的函。 重点内容如下： (一)推动新能源上网电量参与市场交易 新能源项目(风电、光伏发电项目，下同 )上 网电量原则上全部进入电力市场，以"报量报 价"方式参与交易形成上网电价， 暂不具备条件的接受市场形成的价格。适时推动生物质发 电等电源参与电力市场交易。 参与跨省跨区交易的新能源电量，上网电价和交易机制按照跨省跨区送电价格政策执行;外 送通道配套新能源项目按照国家有关规定执行，暂不纳入我省机制电价实施范围。 (二)建立新能源可持续发展价格结算机制 对纳入机制的电量， 市场交易均价低于或高于机制电价的部分，由电网企业按规定开展差 价结算，结算费用纳入系统运行费用，由全体工商业用户用电量分摊或分享(含企业自备电 厂自发自用电量) , 现阶段不再开展其他形式的差价结算。 市场交易均价 原则上按照月度发电侧实时市场同类项目(区分风电、光伏发电项目)加权平 均价格(实施结算限价前所有时点和所有节点电价)确定。 2 0 2 5年6月1日以前按照核准(备案)容量投产(全容量并网 ...

Core Viewpoint - The market shows strong recognition of China Huadian New Energy Group Co., Ltd. (Huadian New Energy) as evidenced by the high demand for its shares, indicating confidence in its value, industry position, and growth potential [1][3]. Company Overview - Huadian New Energy is the only platform for the integration of wind and solar power generation under China Huadian, and it is one of the earliest companies in China to engage in the development and operation of renewable energy projects [1]. - The company plans to raise 18 billion yuan through its IPO, with funds allocated for various renewable energy projects, including wind and solar power bases and new energy system collaborations [1]. Financial Performance - From 2022 to 2024, Huadian New Energy's revenue is projected to grow from 24.7 billion yuan to 34 billion yuan, with net profit increasing from 8.314 billion yuan to 8.524 billion yuan, indicating steady profitability [2]. - In Q1 2025, the company reported revenue of 9.628 billion yuan, a year-on-year increase of 16.19%, and a net profit of 2.888 billion yuan, up 6.32% year-on-year, reflecting effective management and operational efficiency [2]. Industry Position - Huadian New Energy not only holds a strong position in wind and solar energy but is also one of the few renewable energy companies with stakes in nuclear power, actively exploring energy storage and hydrogen energy sectors [2]. - The company has developed an industry-leading specialized management system, enhancing its project management capabilities and fostering innovation in management practices [2]. Market Sentiment - The high interest from institutional investors in Huadian New Energy's IPO reflects optimism about China's green transition and the successful implementation of the new energy security strategy [3].

央视网消息：铭记历史、缅怀英烈，《抗日根据地·今昔巨变》系列报道，我们继续聚焦陕甘宁抗日根据地。抗战时期，盐池作为陕甘宁 边区的经济支柱之一，为保卫边区、支援经济建设作出了重要贡献。党的十八大以来，宁夏盐池县依托当地独特的自然资源，大力发展滩羊养 殖、枸杞种植等特色农业，同时积极发展风能、太阳能等新能源产业。当年在边区经济中发挥重要作用的盐池县，如何在今天焕发新的活力？ 一起去看看。 盐池因历史上有20多处大大小小的盐湖而得名，抗战时期，陕甘宁边区的"宁"主要在宁夏盐池县。当时盐池产"三宝"——食盐、皮毛和甘 草，是陕甘宁边区重要的经济支柱和财政来源。1941年至1945年，陕甘宁边区在军事包围和经济封锁之下，财政经济极端困难。盐池县军民响 应号召，开荒种地、办合作社、打盐运盐、挖甘草、发展畜牧业和纺织业生产，掀起了轰轰烈烈的大生产运动，为边区经济建设作出了重要贡 献。 1941年，八路军359旅的2000名官兵奉命到盐池打盐，在盐池革命纪念馆，我们可以看到当时的一个复原场景。仔细看，我们会发现当时 所有的战士都是赤足光脚在盐池里打盐，当时的战士们为什么要赤足光脚上阵？这是因为他们不舍得穿老百姓送给他们的鞋， ...

Core Viewpoint - The development of the renewable energy industry in Ninghe District, Tianjin, is driving local economic growth and increasing residents' income through the utilization of wind and solar resources [1]. Group 1: Renewable Energy Projects - Over the past seven years, Ninghe District has implemented 45 concentrated renewable energy projects, achieving a total installed capacity of 2883.1 megawatts [1]. - The project in Miaozhuang Town involves revitalizing 13,500 acres of idle ditches and transforming 51,000 acres of inefficient farmland, with a new solar power installation of 1000 megawatts [1]. Group 2: Agricultural Development - The integration of renewable energy has enhanced ecological industries, such as the intelligent storage center for Hongyao sweet potatoes, which maintains optimal storage conditions using advanced temperature control technology [2]. - The storage center has an annual storage capacity of 7200 tons, ensuring consumers can access fresh and high-quality sweet potatoes even in off-harvest seasons [2]. Group 3: Environmental Impact - The projects are expected to reduce coal consumption and carbon emissions by nearly 4 million tons over their lifecycle [1]. - As of now, 29 renewable energy projects have been completed and connected to the grid, accelerating the release of ecological benefits and enhancing green low-carbon development momentum in the region [3].

Group 1 - Hong Kong's IPO market raised a total of HKD 107.1 billion in the first half of 2025, making it the best globally, with a 20% increase in Hong Kong stocks [1] - The ongoing IPO boom in Hong Kong is evidenced by 16 mainland companies submitting applications to the Hong Kong Stock Exchange on June 27, setting a new single-day record, and 220 companies currently in the listing queue [1][2] - The unique resilience and vitality of Hong Kong's capital market are highlighted by the government's efforts to strengthen the connectivity between mainland and Hong Kong capital markets [1][2] Group 2 - Contemporary Amperex Technology Co., Ltd. (CATL) raised over HKD 40 billion during its Hong Kong listing, with 90% of the funds allocated for a battery project in Hungary, marking a significant step in integrating into the global capital market [1][2] - CATL's chairman announced a strategic upgrade to transition from a battery component manufacturer to a system solution provider, aiming to become a zero-carbon technology company [2] - The Hong Kong government emphasizes its "one country, two systems" advantage in optimizing the dual-channel function for international capital entering the mainland and mainland enterprises going global [2] Group 3 - Shandong High-Speed Group's subsidiary, Shandong Gaoqing Holdings, has seen rapid growth since its Hong Kong listing, with total assets reaching RMB 66.17 billion by 2024, focusing on new energy and infrastructure sectors [2][3] - Shandong Gaoqing Holdings leverages the Hong Kong market to enhance its "industry-capital-technology" chain, investing in wind and solar projects across various regions [3] - The pharmaceutical sector in Hong Kong has attracted significant capital attention, with companies like iFlytek Medical enhancing their international competitiveness through the resources available in the Hong Kong capital market [3][4] Group 4 - Hong Kong's financing market experienced explosive growth in the first half of the year, with equity financing in the primary market exceeding HKD 250 billion, a 318% increase from HKD 59.8 billion in the same period last year [4] - The CEO of the Hong Kong Stock Exchange stated that future efforts will focus on deepening listing system reforms and optimizing the market ecosystem to facilitate more efficient connections between mainland enterprises and international capital [4]