截至发稿，通宝能源市值为66亿元。 每经头条（nbdtoutiao）——大鹏工业战略配售"肥"了自家人！认购价9元，上市首日涨到118元，实控 人和亲哥哥凭配售一天浮盈2492万元 每经AI快讯，通宝能源（SH 600780，收盘价：5.78元）11月24日晚间发布公告称，公司十二届四次董 事会会议于2025年11月24日在公司会议厅召开。会议审议了《关于召开2025年第二次临时股东会的议 案》等文件。 2024年1至12月份，通宝能源的营业收入构成为：配电业务占比82.15%，发电业务占比16.25%，供热业 务占比1.53%，其他业务占比0.08%。 （记者 曾健辉） ...

（文章来源：证券日报） 本报讯 （记者袁传玺）天眼查工商信息显示，近日，国投（云南）新能源发展有限公司成立，注册资 本2亿元，经营范围含发电业务、输电业务、太阳能发电技术服务，储能技术服务等。股东信息显示， 该公司由国投电力全资持股。 ...

Core Viewpoint - The establishment of Guodian (Lixian) New Energy Development Co., Ltd. signifies Guodian Power's strategic expansion into renewable energy and carbon reduction technologies [1] Group 1: Company Overview - Guodian (Lixian) New Energy Development Co., Ltd. has been recently established with a registered capital of 82 million yuan [1] - The company is wholly owned by Guodian Power (600795) through indirect holdings [1] Group 2: Business Scope - The business scope includes power generation, transmission, and distribution services [1] - The company will focus on emerging energy technology research and development, including carbon reduction, carbon conversion, carbon capture, and carbon storage technologies [1]

| 都在用的商业商可工具 | 章公司 | 查老板 直关系 查风险 | | | | | --- | --- | --- | --- | --- | --- | | | 国家中小企业发展子基金旗下机构 | 国投(云南)新能源发展有限公司 | 8 天眼一下 | | | | 基本信息 7 | 法律诉讼 | 经营风险 | 经营信息 4 | 公司发展 | | | 工商信息 ● | | | | | | | 工商信息 历史工商信息0 | | | | | | | 企业名称 | 国投(云南)新能源发展有限公司 | | | | | | 法定代表人 | 覧 高鹏 凝关联企业 99 | 6 松井田流 | 存续 | | 天郎 | | | | 成立日期 | 2025-11-14 | | | | 统一社会信用代码 2 | 91530114MAK19TX10J | 注册资本 2 | 20000万人民币 | | दे सि | | 工商注册号 | 530121000442752 | 纳税人识别号 2 | 91530114MAK19TX10J | | REAL | | 营业期限 | 2025-11-14 至 无固定期限 | 纳税人资质 | | | ...

Core Insights - Suining Runyong New Energy Co., Ltd. has been established with a registered capital of 4.2 million RMB, focusing on various energy-related services [1] Company Overview - The legal representative of Suining Runyong New Energy Co., Ltd. is Dai Wei [1] - The company is wholly owned by Times Green Energy Co., Ltd., which is a subsidiary of CATL (Contemporary Amperex Technology Co., Ltd.) [1] Business Scope - The business operations include power generation, transmission, and distribution services [1] - The company is involved in construction engineering, new energy technology research and development, solar power technology services, and heat production and supply [1] - Additional services include contract energy management, online energy metering technology research and development, information system integration services, and information system operation and maintenance services [1]

Group 1 - A new company named China Energy Construction Bochuang Green Fuel (Shenyang) Co., Ltd. has been established, with Li Bo as the legal representative [1] - The company's business scope includes power generation, transmission, distribution, energy storage technology services, hydrogen refueling and storage facility sales, and battery sales [1] - The company is indirectly wholly owned by China Energy Construction [3]

Core Viewpoint - Recently, Yingtan Feng'an Energy Storage Co., Ltd. was established with a registered capital of 1 million RMB, focusing on various energy-related services and technologies [1] Company Overview - The legal representative of Yingtan Feng'an Energy Storage Co., Ltd. is Peng Yaqin [1] - The company has a registered capital of 1 million RMB [1] Business Scope - The company is involved in licensed projects including power generation, transmission, and distribution services, which require approval from relevant authorities [1] - General projects include: - Research and development of emerging energy technologies - Technical services, development, consulting, and promotion [1] - Energy management contracts and sales of energy-related equipment [1] - Sales and leasing of solar power generation equipment and components [1] - Research and development of new materials and battery sales [1] - Sales of wind power-related equipment and systems [1] - Engineering management and information consulting services [1]

Company Overview - Suzhou Weineng Energy Co., Ltd. has been established with a registered capital of 35 million yuan [1] - The company is involved in power generation, transmission, and distribution services, as well as energy storage technology services and energy recovery system development [1] Shareholding Structure - The company is jointly held by Suzhou Weiseng Enterprise Management Co., Ltd. (54.29% stake) and GCL-Poly Energy Holdings Limited's subsidiary, GCL Smart Energy (Suzhou) Co., Ltd. (45.71% stake) [2] Business Scope - The operational scope includes power generation, transmission, distribution, and related technical services, indicating a focus on emerging energy technologies [2]

Core Viewpoint - Morgan Stanley warns that the market valuation multiples for Caterpillar's power generation business have significantly exceeded those of industry leaders like Nvidia and GE Vernova, indicating a potential overvaluation that could lead to a sharp correction if market conditions change [1][4]. Valuation Comparison - Caterpillar's power generation business is currently valued at an EV/EBITDA multiple between 58x and 103x, while GE Vernova and Nvidia are valued at approximately 28x and 25x, respectively [1][4]. - This suggests that the market perceives Caterpillar's power generation business as more valuable than the related businesses of top technology and energy companies [4]. Business Segment Analysis - The projected EBITDA for Caterpillar's segments in 2026 is as follows: - Construction Industries: $3,664 million at a 13.0x multiple, resulting in an EV of $47,628 million - Resource Industries: $2,118 million at a 13.0x multiple, resulting in an EV of $27,538 million - Power Generation: $1,508 million at a 103.0x multiple, resulting in an EV of $155,369 million - Other Energy & Transportation: $7,132 million at a 13.0x multiple, resulting in an EV of $92,713 million [5]. Market Expectations - To justify Caterpillar's current stock price of $585, the market must accept one of two extreme scenarios: 1. The valuation of Caterpillar's traditional cyclical businesses (like construction and resource extraction) is pushed to "absurd levels" far beyond historical norms. 2. Even with optimistic assumptions for the power generation business, the implied valuation for cyclical businesses remains high at 28x, despite declining operating margins [6][7]. - Morgan Stanley estimates that even with aggressive growth projections for the power generation business, it is unlikely to meet bullish expectations of $20 billion in sales by 2027 [7]. Price Target and EPS Forecast - Morgan Stanley maintains a 2026 EPS forecast for Caterpillar at $19.24, with a target price of $380 based on a 20x P/E ratio, indicating a potential downside of 35% from the current stock price [7].

Core Insights - A new company, Guoneng (Hotan) New Energy Development Co., Ltd., has been established with a registered capital of approximately 430 million yuan [1] - The company is involved in power generation, transmission, and distribution, as well as solar power technology services [1] - The ownership structure consists of State Energy Group Xinjiang Energy Chemical Co., Ltd. holding 95% and China Aneng Group Third Engineering Bureau Co., Ltd. holding 5% [1]