9月26日，广州发展盘中上涨2.14%，截至13:47，报6.69元/股，成交1.04亿元，换手率0.45%，总市值 234.57亿元。 资金流向方面，主力资金净流入125.51万元，特大单买入1602.03万元，占比15.36%，卖出1474.17万 元，占比14.14%；大单买入1482.85万元，占比14.22%，卖出1485.20万元，占比14.24%。 广州发展今年以来股价涨8.78%，近5个交易日涨1.67%，近20日涨1.21%，近60日涨4.86%。 资料显示，广州发展集团股份有限公司位于广东省广州市天河区临江大道3号31-32楼，成立日期1992年 11月13日，上市日期1997年7月18日，公司主营业务涉及从事能源、基础设施、物流等产业的投资、建 设、生产管理和经营业务。主营业务收入构成为：煤炭50.72%，天然气20.30%，燃煤发电10.48%，天 然气发电6.75%，油品4.21%，风力发电4.03%，光伏发电1.78%，煤电热力0.85%，气电热力0.36%，加 气混凝土0.20%，金融业务0.12%，房产租赁0.12%，危化品仓储0.04%，充电桩0.02%，储能0.00%。 广 ...

Core Viewpoint - Guangzhou Development's stock has experienced fluctuations, with a recent decline of 2.07% and a total market capitalization of 23.25 billion yuan. The company has shown a year-to-date increase of 7.80% in stock price, but a recent drop of 4.33% over the last five trading days [1]. Company Overview - Guangzhou Development Group Co., Ltd. is located in Tianhe District, Guangzhou, Guangdong Province, and was established on November 13, 1992. The company was listed on July 18, 1997. Its main business involves investment, construction, production management, and operation in sectors such as energy, infrastructure, and logistics [1]. - The revenue composition of the company includes coal (50.72%), natural gas (20.30%), coal-fired power generation (10.48%), natural gas power generation (6.75%), oil products (4.21%), wind power (4.03%), solar power (1.78%), and other minor segments [1]. Financial Performance - For the first half of 2025, Guangzhou Development achieved an operating income of 23.33 billion yuan, representing a year-on-year growth of 2.01%. The net profit attributable to shareholders increased by 42.56% to 1.635 billion yuan [2]. - The company has distributed a total of 10.34 billion yuan in dividends since its A-share listing, with 2.53 billion yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Guangzhou Development was 51,600, a decrease of 1.59% from the previous period. The average circulating shares per person increased by 1.61% to 67,765 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 23.63 million shares, an increase of 41,000 shares from the previous period. Southern CSI 500 ETF ranks as the eighth largest circulating shareholder with 15.63 million shares, an increase of 1.97 million shares [3].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 1 附註： （在香港註冊成立的有限責任公司） （股份代號：2380） 二零二五年七月售電量 中國電力國際發展有限公司（「本公司」）宣佈，根據本公司的初步統計，本公司及 其附屬公司（統稱「本集團」）於二零二五年七月的合併總售電量為 12,543,235 兆瓦 時，較去年同月增加 2.45%，而二零二五年首七個月的合併總售電量為 75,079,795兆瓦 時，較去年同期減少 1.97%。 本集團於二零二五年七月及截至二零二五年七月三十一日止七個月的總售電量，按發 電廠類型列示如下： | 全資擁有或 | | | 售電量（兆瓦時） | | | | | --- | --- | --- | --- | --- | --- | --- | | 控制的發電廠 | 2025 年 | 2024 年 | 同比變化 | 2025 年 | 2024 年 | 同比變化 | | | 7 月 | 7 月 | | 首七個月 | | | ...

Core Viewpoint - Morgan Stanley reported that Huaneng International Power's net profit for Q2 this year increased significantly by 50% year-on-year, reaching 4.3 billion yuan, exceeding the bank's previous expectation of 3.6 billion yuan, primarily driven by better-than-expected profits from coal and photovoltaic power generation [1] Financial Performance - The main drivers of profit growth in the first half of the year were thermal and photovoltaic power, with both maintaining stable electricity prices [1] - Coal-fired power generation benefited from a decrease in fuel costs, with Q2 unit profit remaining at 0.044 yuan per kilowatt-hour, compared to 0.015 yuan per kilowatt-hour in the same period of 2024 [1] - Photovoltaic power generation showed strong performance due to the continuous release of new capacity, with unit profit only declining by 0.5 cents year-on-year [1] Wind Power Performance - The unit profit for wind power showed a milder decline than expected, decreasing by 1.9 cents year-on-year, but the reduction was an improvement compared to Q1 2025 [1] Investment Rating - Morgan Stanley maintains a "Market Perform" rating for Huaneng International Power, with a target price set at 5.5 Hong Kong dollars [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 中 國 電 力 國 際 發 展 有 限 公 司 China Power International Development Limited （在香港註冊成立的有限責任公司） （股份代號：2380） 二零二五年五月售電量 | 主要聯營公司或 | | | 售電量（兆瓦時） | | | | | --- | --- | --- | --- | --- | --- | --- | | 合營公司的發電廠 | 2025 年 | 2024 年 | 同比變化 | 2025 年 | 2024 年 | 同比變化 | | | 5 月 | 5 月 | | 首五個月 | | | | 風力發電(1) | 138,576 | 111,846 | 23.90% | 791,794 | 1,419,284 | -44.21% | | 光伏發電 | 23,867 | 24,205 | -1.40% | 107,637 | 79,775 | ...

Core Viewpoint - The report outlines the acquisition of Yuanda Environmental Protection Co., Ltd. by China Power International Development Limited, emphasizing the strategic integration of hydropower assets and the enhancement of core competitiveness within the clean energy sector [1][5]. Group 1: Acquisition Details - The acquisition involves China Power purchasing 63% of Wuling Power and 64.93% of Changzhou Hydropower from Yuanda Environmental Protection, with the aim of establishing a hydropower asset integration platform [4][19]. - Post-acquisition, China Power will become the controlling shareholder of Yuanda Environmental Protection, while the actual controller remains the State Power Investment Corporation [19][25]. Group 2: Financial Overview - China Power's total assets as of December 31, 2024, are reported at approximately RMB 34.05 billion, with total liabilities of about RMB 23.29 billion, resulting in an equity of around RMB 10.75 billion [8]. - The financial performance for China Power shows a revenue increase to RMB 5.42 billion in 2024, up from RMB 4.43 billion in 2023, indicating a growth rate of approximately 22.5% [8][12]. Group 3: Strategic Intent - The acquisition is part of a broader strategy to enhance the competitiveness of the State Power Investment Corporation, which is recognized as the largest clean energy company globally [5][12]. - The transaction aims to integrate hydropower and renewable energy operations, thereby expanding Yuanda Environmental Protection's business scope to include comprehensive development and operation of hydropower stations [5][22]. Group 4: Management and Governance - China Power's management team possesses extensive experience in corporate governance and is well-versed in the regulatory environment of the securities market, ensuring compliance and effective management post-acquisition [9][18]. - The State Power Investment Corporation, as a controlling entity, has committed to maintaining the independence of Yuanda Environmental Protection in terms of operations and governance [25][27]. Group 5: Future Plans - Following the acquisition, there are no immediate plans for significant changes to the operational structure or management of Yuanda Environmental Protection, ensuring stability during the transition [21][22]. - The acquisition is expected to enhance shareholder value, with plans to increase the dividend payout ratio to no less than 50% post-transaction [22][27].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 （股份代號：2380） 二零二五年三月售電量 中國電力國際發展有限公司（「本公司」）宣佈，根據本公司的初步統計，本公司及其附 屬公司（統稱「本集團」）於二零二五年三月的合併總售電量為10,961,682兆瓦時，較去年 同期增加3.95%；而二零二五年首三個月的合併總售電量為30,747,663兆瓦時，較去年同期 增加2.59%。 本集團於二零二五年三月及截至二零二五年三月三十一日止三個月的總售電量，按發電廠 類型列示如下： | 全資擁有或控制 | | | 售電量（兆瓦時） | | | | | --- | --- | --- | --- | --- | --- | --- | | 的發電廠 | 年 2025 | 年 2024 | 同比變化 | 2025 年 | 2024 年 | 同比變化 | | | 月 3 | 3 月 | | 首三個月 | | | | 水力發電 | 1,328,897 | 1,134,1 ...