Group 1 - The stock price of Jinko Technology closed at 3.18 yuan on July 31, 2025, down by 0.13 yuan, representing a decline of 3.93% from the previous trading day [1] - The trading volume on that day was 1,126,300 hands, with a total transaction value of 362 million yuan [1] - Jinko Technology's main business includes the development and operation of photovoltaic power plants and electricity sales, operating within the power sector [1] Group 2 - On July 31, 2025, the company disclosed that it had received multiple institutional research visits, including from E Fund, on July 1 [1] - During the research visit, the company stated that it has developed a market value management plan, which includes focusing on its core business, conducting share buybacks as appropriate, and increasing cash dividends [1] - Over the past year, the company has received a total of 214 institutional research visits, totaling 320 times [1] Group 3 - On July 31, 2025, the net outflow of main funds was 54.8553 million yuan, accounting for 0.48% of the circulating market value [1]

Core Viewpoint - The initiative "Green Car Charging with Green Electricity" is gaining popularity in Shenzhen, promoting the use of renewable energy and providing personal green certificates to electric vehicle owners who charge with green electricity [1][2]. Group 1: Green Electricity and Certificates - "Green electricity" refers to electricity generated from renewable sources such as wind, solar, and biomass, while a "green certificate" is an electronic identification issued by the National Energy Administration for every 1,000 kWh of renewable energy consumed [1]. - The Shenzhen Power Supply Bureau has launched a service product that ensures 100% green electricity supply at 11 charging stations in the city [1][2]. Group 2: Incentives and Participation - Electric vehicle owners who charge 1,000 kWh at designated stations will receive a government-authorized green certificate, serving as a recognition of their contribution to environmental protection [2]. - The Shenzhen Power Supply Bureau plans to hold an incentive program to reward participants with benefits such as a 50 yuan charging card, making green electricity consumption tangible and rewarding [2]. Group 3: Future Development - The company aims to continuously innovate green electricity and certificate services, creating a product service matrix to enhance the purchasing experience for electric vehicle owners [3]. - The promotion of "Green Car Charging with Green Electricity" will be executed in three phases: promotion and cultivation, mature development, and integrated win-win, to foster a societal trend towards green electricity consumption [3].

7月31日晚间，节能风电发布公告称，公司第六届董事会第一次会议审议通过了《关于聘任公司内部审 计负责人的议案》等多项议案。同日，公司还召开了第六届第一次董事会会议，审议了《关于选举公司 第六届董事会董事长的议案》等文件。 节能风电股价为3.00元，较前一交易日收盘价下跌0.06元，跌幅为1.96%。开盘价为3.05元，最高价为 3.06元，最低价为2.99元，成交量为826109手，成交额为2.49亿元。 节能风电主营业务为风力发电，所属行业为电力行业。公司2024年营业收入构成为风力发电占比 99.65%，其他业务占比0.35%。 风险提示：股市有风险，投资需谨慎。 7月31日，节能风电主力资金净流出1856.54万元。 ...

风险提示：投资有风险，入市需谨慎。本文不构成任何投资建议。 截至7月31日收盘，立新能源股价报7.06元，较前一交易日下跌0.05元。当日成交量为8.99万手，成交金 额达6400万元。 根据公开信息，8月1日立新能源将面临33.03亿元市值的限售股解禁，解禁比例高达49.78%，在当日解 禁个股中规模居首。7月31日主力资金净流入137.38万元。 立新能源主营业务为风力发电、光伏发电等可再生能源项目的开发、建设和运营。公司所属行业为电力 板块，业务覆盖新疆地区，并涉及储能、充电桩等领域。 ...

资金方面，7月31日内蒙华电主力资金净流入1923.69万元。 风险提示：投资有风险，入市需谨慎。 内蒙华电是内蒙古自治区重要的发电企业，主营业务包括发电、供热及煤炭产销。公司电力业务覆盖内 蒙古及华北、京津唐地区，同时拥有1500万吨煤炭年产能，具备煤电一体化协同优势。 消息面上，内蒙华电发布2025年半年度业绩快报，上半年实现营业总收入98.27亿元，归属于上市公司 股东的净利润15.57亿元。此外，公司表示2025年煤炭生产按1500万吨/年核准产能推进，上半年进度符 合预期。 截至2025年7月31日收盘，内蒙华电股价报4.03元，较前一交易日下跌0.98%。公司当日成交额2.20亿 元，换手率0.84%。 ...

Group 1 - The company, Jilin Electric Power Co., Ltd., held its second extraordinary shareholders' meeting of 2025 on March 6, 2025, where it approved the proposal to apply for the registration of issuing ultra-short-term financing bonds [2] - The company plans to apply for a registration limit of up to RMB 4 billion for ultra-short-term financing bonds with the China Interbank Market Dealers Association [2] - The company has received the acceptance notice from the Dealers Association, confirming the registration amount of RMB 4 billion, which is valid for two years from the date of the notice [2][3] Group 2 - The issuance will be conducted in accordance with the relevant regulations and guidelines for non-financial corporate debt financing instruments [2][3] - The lead underwriters for this issuance are Industrial and Commercial Bank of China and the National Development Bank [2]

证券代码：000875 证券简称：吉电股份 公告编号：2025-054 吉林电力股份有限公司 近日，公司收到交易商协会下发的《接受注册通知书》（中市协 注〔2025〕MTN699 号） ，交易商协会决定接受公司中期票据注册。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 吉林电力股份有限公司（以下简称"公司" ）于 2025 年 3 月 6 日 召开 2025 年第二次临时股东会，审议通过了《关于申请注册发行中 期票据的议案》 ，同意公司向中国银行间市场交易商协会（以下简称 "交易商协会"）申请注册额度不超过人民币 40 亿元的中期票据。具 体 内 容 详 见 公 司 2025 年 2 月 19 日 刊 载 于 巨 潮 资 讯 网 （www.cninfo.com.cn） 、《中国证券报》 《上海证券报》及《证券时报》 的《关于申请注册发行中期票据的公告》（2025-010）。 工具信息披露规则》及有关规则指引规定，及时履行信息披露义务。 特此公告。 吉林电力股份有限公司董事会 二○二五年七月三十一日 《接 受注册通知书》 （中市协注〔2025〕MTN699 ...

Financial Data and Key Metrics Changes - Core earnings per share for Q2 2025 were $0.31, with a year-to-date total of $0.64, down from the previous year, but consistent with internal plans [5][23] - The full-year guidance range for EPS is reaffirmed at $1.48 to $1.52, representing a 10% increase over 2024 [5][10] Business Line Data and Key Metrics Changes - The company is focused on a simple affordable model that aims to stabilize customer bills while allowing for necessary capital investments [11][15] - The 2027 general rate case proposal reflects the lowest percentage increase in ten years, with a path for residential bills to decrease compared to current levels [24][25] Market Data and Key Metrics Changes - The data center pipeline has grown to 10 gigawatts, a nearly threefold increase from the previous year, indicating strong demand and beneficial load growth [17][21] - The company is actively working on over 50 projects, including a significant project for Microsoft in San Jose [18][20] Company Strategy and Development Direction - The company is advocating for legislative changes to improve wildfire fund durability and affordability for customers, emphasizing a comprehensive approach to wildfire risk management [6][8] - The focus remains on maintaining a balance between customer affordability and investor returns, with a commitment to sustainable growth through capital investments [11][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving growth under various legislative outcomes, emphasizing the importance of a durable wildfire fund and effective affordability solutions [39][40] - The company is optimistic about the potential for rate reductions and legislative support for affordability measures in the near term [76][77] Other Important Information - The company has implemented over 100 initiatives aimed at operational savings, with a target to exceed a 2% reduction in non-fuel O&M costs [23][25] - The capital investment plan through 2028 is set at $63 billion, with no additional equity issuance planned [27][31] Q&A Session Summary Question: Concerns about legislative outcomes affecting growth - Management reassured that they have modeled various legislative scenarios and remain confident in their guidance through 2028, emphasizing that securitization proposals would not be beneficial for customers [39][40] Question: Thoughts on upfront funding for wildfire solutions - Management indicated that there is no expectation for a large upfront payment for the wildfire fund, as claims typically take years to pay out [46][47] Question: Update on data center pipeline and load growth benefits - Management highlighted that construction for data center projects in San Jose is expected to start in late 2026 or early 2027, with load benefits materializing predominantly in 2027 [71][72] Question: Potential for combining legislative proposals - Management expressed optimism about the possibility of combining affordability and wildfire fund proposals into a cohesive package this legislative session [82][85] Question: Confidence in achieving targeted earnings growth - Management stated that their confidence is underpinned by various options for capital redeployment and a strong demand for capital investments to serve new load growth [117][119]

Financial Data and Key Metrics Changes - Xcel Energy reported earnings of $0.75 per share for Q2 2025, an increase from $0.54 per share in Q2 2024, driven by higher revenue from electric and natural gas services and increased AFUDC [19][20] - Weather-normalized electric sales increased by 3.5% for the second quarter, with a full-year forecast of 3% growth [20] Business Line Data and Key Metrics Changes - The company invested $2.6 billion in resilient and reliable energy infrastructure during the quarter [6] - The capital plan was updated to include an additional $15 billion in capital investment to meet customer needs, primarily in Texas and New Mexico [10][12] Market Data and Key Metrics Changes - Strong energy demand is noted from the electrification of transportation, manufacturing, and home heating [9] - The company anticipates needing between 15 and 29 gigawatts of new generation capacity by 2031, with significant contributions expected from wind and solar [15] Company Strategy and Development Direction - Xcel Energy is focused on a $45 billion infrastructure investment forecast to meet increased energy demand and strengthen transmission and distribution systems [9] - The company is navigating a rapidly evolving energy policy landscape, with a focus on federal legislation impacting tax credits and permitting [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering on earnings guidance for the 21st consecutive year, highlighting a strong track record in the industry [7] - The company is actively working through resource planning processes in Colorado, which may require significant new generation to meet reliability and customer demands [12] Other Important Information - Xcel Energy is making progress in wildfire risk mitigation, with significant investments approved for wildfire mitigation plans in Colorado and Texas [16][17] - The company has a strong balance sheet and credit metrics, maintaining a balanced mix of debt and equity to fund growth [26] Q&A Session Summary Question: CapEx upside and base capital plan - Management discussed the potential conversion of CapEx upside into the base capital plan, emphasizing transparency in the upcoming Q3 update [28][30] Question: Turbine procurement for gas generation - Management confirmed they have 19 turbine reservation slots to support upcoming projects, ensuring readiness for gas generation needs [36][37] Question: Impact of treasury order on renewable projects - Management indicated that they do not foresee significant impacts from the treasury order on their renewable projects, as they have already commenced physical construction [41][42] Question: Growth opportunities and equity needs - Management reiterated their strong balance sheet and commitment to a balanced mix of debt and equity for funding growth, with no interest in minority interest sales [92][93] Question: Marshall trial and settlement opportunities - Management confirmed they are prepared for the trial but remain open to settlement discussions [51][85] Question: Competitive transmission opportunities - Management stated they do not include competitive transmission projects outside their service territory in their capital plan [57][58] Question: Data center contracting progress - Management reported progress in contracting for data centers, with a robust pipeline and plans to reach 2.5 gigawatts by 2030 [60][61]

Financial Data and Key Metrics Changes - GAAP earnings for Q2 2025 were $0.46 per share, an increase from $0.08 in Q2 2024 [5] - Core earnings were $0.52 per share for the quarter, compared to $0.51 in the same quarter last year [6] - Year-to-date core earnings of $1.19 per share reflect a 19% increase compared to 2024 [22] - Consolidated return on equity was 9.7%, aligning with the targeted range of 9.5% to 10% [22] Business Line Data and Key Metrics Changes - The second quarter core earnings benefited from new base rates in Pennsylvania and increased investments in the transmission system [6][22] - Operating expenses were nearly 4% lower than planned, contributing to financial discipline [23] - Capital investments for 2025 are on track with over $1.4 billion deployed in Q2 and more than $2.5 billion in the first half of the year, which is 29% ahead of the same period in 2024 [23] Market Data and Key Metrics Changes - The data center pipeline has increased over 80% to 11.1 gigawatts since February, with contracted data center load rising approximately 25% to 2.7 gigawatts [10] - Requests for large load studies greater than 500 megawatts have surged, with over 95 gigawatts requested since the beginning of 2024 [11] Company Strategy and Development Direction - The company is focused on a $28 billion capital investment plan through 2029 to enhance system resiliency and reliability [7][19] - Significant investments in Pennsylvania are expected to total $15 billion through 2029, with a focus on distribution and transmission capital investments [9] - The company aims to be recognized as a premier electric utility, targeting a compound annual growth rate of 6% to 8% through 2029 [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving core earnings in the upper half of the guidance range of $2.4 to $2.6 per share for 2025 [18] - The leadership team is committed to optimizing performance and financial strength, with a focus on accountability and customer service [18] - Management highlighted the need for new dispatchable generation in West Virginia and the potential for incremental investments [40] Other Important Information - The company successfully sold its minority ownership in the Signal Peak coal mine for $47.5 million, eliminating any remaining financial or operational liabilities [28] - The company is preparing for regulatory changes in Ohio, including a transition to a new regulatory framework that supports capital investments [14][72] Q&A Session Summary Question: Clarification on transmission CapEx upside - Management indicated that the 20% increase in CapEx is gross and that identified CapEx for shareholders could be between $2.3 billion to $4 billion [35][36] Question: Balance sheet capacity and equity considerations - Management is open to all options regarding balance sheet capacity and will make decisions based on the reality at the time [37] Question: Data center pipeline and negotiations - The pace of negotiations is driven by customer demand, with legitimate developers willing to sign contracts [44] Question: Incremental generation needs in West Virginia - Management anticipates the need for new dispatchable generation, with potential for adding 1,000 megawatts over the next ten years [46] Question: Drivers of upside in financial performance - Most of the favorability to plan is attributed to discipline around operating expenses, which are 4% below plan [52] Question: Future CapEx updates - A longer-term CapEx plan will likely be provided in the fourth quarter call [88] Question: Ohio regulatory strategy post-rate case - Future filings will depend on the outcomes of the current rate case, with expectations for a decision in the fourth quarter [93]