Core Points - Company signed a strategic cooperation agreement with CATL, covering the period from January 1, 2026, to December 31, 2035 [2] - The agreement includes an annual review of cooperation goals, with updates to be confirmed through memorandums [2] - Company commits to purchasing a total of no less than 200 GWh of electricity from CATL during the first phase of the agreement, from January 1, 2026, to December 31, 2028 [2]

格隆汇11月12日丨海博思创(688411.SH)公布，公司与宁德时代新能源科技股份有限公司(以下简称"宁德 时代")签订《战略合作协议》(以下简称"本协议")，在2026年1月1日至2035年12月31日合作期内，双方 应于每年度末(12月1日前)就未来三年的合作目标进行滚动式更新，并签署相应年限的合作备忘录予以 确认。其中2026年1月1日至2028年12月31日，公司采购电量累计不低于200GWh，宁德时代确保按公司 需求量纲供应。 ...

公司与宁德时代签署战略合作协议有利于双方建立长期、稳定的战略合作关系，打造协同竞争优势，促 进双方资源高效配置与共赢。本次合作符合公司的发展战略，有利于提升公司供应链的稳定性，保持行 业领先地位，提高公司整体竞争力和盈利能力，促进公司高质量发展。 智通财经APP讯，海博思创(688411.SH)发布公告，公司与宁德时代新能源科技股份有限公司(简称"宁德 时代")签订《战略合作协议》，在2026年1月1日至2035年12月31日合作期内，双方应于每年度末(12月1 日前)就未来三年的合作目标进行滚动式更新，并签署相应年限的合作备忘录予以确认。其中2026年1月 1日至2028年12月31日，公司采购电量累计不低于200GWh，宁德时代确保按公司需求量纲供应。 ...

格隆汇11月12日丨海博思创(688411.SH)公布，公司与宁德时代新能源科技股份有限公司(以下简称"宁德 时代")签订《战略合作协议》(以下简称"本协议")，在2026年1月1日至2035年12月31日合作期内，双方 应于每年度末(12月1日前)就未来三年的合作目标进行滚动式更新，并签署相应年限的合作备忘录予以 确认。其中2026年1月1日至2028年12月31日，公司采购电量累计不低于200GWh，宁德时代确保按公司 需求量纲供应。 ...

海博思创(688411.SH)发布公告，公司与宁德时代（300750）新能源科技股份有限公司(简称"宁德时代") 签订《战略合作协议》，在2026年1月1日至2035年12月31日合作期内，双方应于每年度末(12月1日前) 就未来三年的合作目标进行滚动式更新，并签署相应年限的合作备忘录予以确认。其中2026年1月1日至 2028年12月31日，公司采购电量累计不低于200GWh，宁德时代确保按公司需求量纲供应。 公司与宁德时代签署战略合作协议有利于双方建立长期、稳定的战略合作关系，打造协同竞争优势，促 进双方资源高效配置与共赢。本次合作符合公司的发展战略，有利于提升公司供应链的稳定性，保持行 业领先地位，提高公司整体竞争力和盈利能力，促进公司高质量发展。 ...

每经AI快讯，11月12日，海博思创(688411.SH)公告称，公司与宁德时代（300750）签订《战略合作协 议》，在2026年1月1日至2035年12月31日合作期内，双方应于每年度末就未来三年的合作目标进行滚动 式更新，并签署相应年限的合作备忘录予以确认。其中2026年1月1日至2028年12月31日，公司采购电量 累计不低于200GWh，宁德时代确保按公司需求量纲供应。本协议不会对公司2025年度经营业绩产生重 大影响，对公司未来经营业绩的影响需视具体项目的推进和实施情况而定。 ...

人民财讯10月31日电，记者从新疆电力交易中心有限公司获悉，今年前三季度，新疆外送电量达1084亿 千瓦时，同比提升12%，其中新能源外送电量占比超三成，达358亿千瓦时，同比增长11.51%。 （文章来源：新华社） ...

Investment Rating - The report assigns a "Buy" rating for the company, with a recommendation for investment based on its growth potential and profitability improvements [4]. Core Insights - The company is positioned as a key player in the thermal power sector in Hebei, with a significant market share and a robust growth trajectory in revenue and profit margins [6][8]. - The company has shown a strong recovery in profitability due to declining coal prices and an increase in installed capacity, with expectations for continued growth in net profit over the next few years [6][19]. - The company is actively transitioning towards renewable energy, with substantial investments in solar power and other green initiatives, aiming to enhance its low-carbon footprint [46][52]. Financial Performance Summary - Revenue is projected to grow from 23.52 billion yuan in 2024 to 23.50 billion yuan in 2027, with a compound annual growth rate of 11.22% from 2020 to 2024 [2][15]. - Net profit attributable to shareholders is expected to rise significantly, reaching 1.33 billion yuan in 2025 and 1.58 billion yuan in 2027, reflecting a growth rate of 149.62% and 8.41% respectively [2][6]. - The gross margin is forecasted to improve from 15.35% in 2024 to 24.45% in 2027, indicating enhanced operational efficiency [2][19]. Business Operations Summary - The company operates primarily in thermal power generation, with a dominant market share of approximately 25% in Hebei province, and plans to increase its installed capacity significantly by 2026 [6][11]. - The company has a strong focus on coal-fired power generation, which constitutes over 90% of its revenue, while also expanding its renewable energy portfolio [6][13]. - The company has several ongoing projects, with a total of 16.02 GW of equity-installed capacity expected by 2026, marking a 32% increase from current levels [41][46]. Future Outlook Summary - The company anticipates a continued upward trend in profitability, driven by lower coal prices and increased efficiency in power generation [6][41]. - The transition to renewable energy is expected to accelerate, with significant investments in solar and storage technologies, positioning the company favorably in the evolving energy landscape [46][52]. - The projected net profit for 2025 is 13.26 billion yuan, with a corresponding price-to-earnings ratio of 10.6x, indicating attractive valuation metrics for potential investors [2][6].

Investment Rating - The report assigns a "Buy" rating for the company, 建投能源 (000600.SZ) [4] Core Views - The company has a solid foundation in thermal power generation, with significant potential for profit improvement due to declining coal prices and ongoing capacity expansion [6][41] - The company is actively transitioning towards renewable energy, with substantial growth in solar power capacity and ongoing projects aimed at reducing carbon emissions [46][52] Financial Performance Summary - Revenue is projected to grow from 23.52 billion yuan in 2024 to 23.50 billion yuan in 2027, with a compound annual growth rate of 11.22% from 2020 to 2024 [2][15] - Net profit attributable to shareholders is expected to increase significantly, reaching 1.33 billion yuan in 2025 and 1.46 billion yuan in 2026, reflecting a growth rate of 149.62% and 10.14% respectively [2][6] - The gross profit margin is forecasted to improve from 15.35% in 2024 to 24.45% in 2027, indicating enhanced profitability [2][21] Business Overview - The company is a key player in the thermal power sector in Hebei, holding a 25% market share in installed capacity [6][8] - The revenue structure is heavily reliant on thermal power, which accounts for over 90% of total revenue [13][15] - The company has a total installed thermal power capacity of 11.77 GW, with plans to increase this to 16.02 GW by 2026 through ongoing projects [6][41] Growth Potential - The company is expected to benefit from a significant increase in installed capacity, with ongoing projects projected to add 3.90 GW of thermal power capacity by 2026 [41][46] - The renewable energy segment is also expanding, with a current solar capacity of 457,100 kW and additional projects in the pipeline [46][52] Investment Recommendations - The report forecasts net profits of 1.33 billion yuan, 1.46 billion yuan, and 1.58 billion yuan for 2025, 2026, and 2027 respectively, with corresponding price-to-earnings ratios of 10.6x, 9.6x, and 8.9x [6][27]