Core Viewpoint - Hydrogen energy is recognized globally as a crucial component of future energy systems, with the successful launch of the world's largest green ammonia project in Jilin, China, contributing significantly to energy transition and carbon neutrality goals [1][5]. Group 1: Project Overview - The Daan Green Hydrogen and Ammonia Integration Demonstration Project is the largest single green ammonia production facility globally, with a capacity of 180,000 tons per year [4]. - The project integrates wind and solar power generation with advanced hydrogen production technologies, including alkaline and PEM electrolysis, achieving a hydrogen production rate of 36,000 standard cubic meters per hour and 9,600 standard cubic meters per hour, respectively [4]. - The project features the world's largest solid-state hydrogen storage system, capable of storing 48,000 standard cubic meters of hydrogen, addressing key challenges in hydrogen storage [4]. Group 2: Strategic Significance - The project plays a vital role in enhancing China's energy security by reducing reliance on coal, oil, and natural gas, aligning with national carbon neutrality targets [5]. - It is expected to reduce carbon emissions by approximately 650,000 tons annually and save about 230,000 tons of standard coal, equivalent to offsetting the annual carbon emissions of nearly 500,000 average households [5]. Group 3: Technological Innovations - The project employs a flexible control system developed by the State Power Investment Corporation, which enhances the stability of ammonia production despite the variability of renewable energy sources [3]. - The integration of hydrogen production and ammonia synthesis through a coordinated system allows for efficient energy utilization and addresses the challenges of renewable energy consumption [6]. Group 4: Employment and Talent Development - The project has created nearly 400 jobs and attracted skilled graduates, contributing to local talent development and supporting the "returning talent" strategy in Jilin [7]. - The company emphasizes the training of composite chemical talents who are proficient in both electrical and chemical engineering, enhancing operational efficiency [7]. Group 5: Future Developments - Following the success of the Daan project, the company plans to expand its hydrogen energy initiatives, including the development of green methanol and green aviation fuel projects [8]. - The company is actively pursuing sales agreements for green ammonia and related products with international partners, indicating a strategic focus on global market expansion [9].

Core Viewpoint - Jilin Electric Power Co., Ltd. (吉电股份) has signed strategic cooperation agreements with EDF (China) and China National Petroleum International Company to enhance collaboration in the green hydrogen energy sector, aiming to leverage each other's strengths for mutual benefits in technology and market expansion [1][2]. Group 1: Cooperation with EDF (China) - Jilin Electric Power Co. is positioned as a key player in China's green hydrogen energy development, responsible for the entire industry chain including R&D, investment, and marketing [1]. - The partnership with EDF (China) is expected to deepen collaboration in technology and global market synergy, establishing a solid foundation for future cooperation [1]. Group 2: Cooperation with China National Petroleum International Company - The company aims to implement a balanced growth strategy in collaboration with China National Petroleum International, focusing on green hydrogen products, carbon reduction, and international market expansion [2]. - The partnership will leverage China National Petroleum's global marketing network to promote green ammonia, green methanol, and green aviation fuel, accelerating the global application of green hydrogen products [2]. - Both companies will integrate their production, sales, and logistics resources to enhance cooperation in green electricity trading and carbon business projects [2].

Group 1: Financial Performance - In Q1 2025, the company's thermal power revenue was 1.271 billion CNY, a year-on-year decrease of 7.40% [1] - The heating revenue reached 647 million CNY, an increase of 8.44% year-on-year [1] - Wind power revenue was 837 million CNY, down 1.17% compared to the previous year [1] - Solar power revenue amounted to 937 million CNY, reflecting a year-on-year increase of 3.08% [1] Group 2: Future Development and Strategy - The company focuses on "New Energy+" and "Green Hydrogen-based Energy" as its key development directions [2] - The company is implementing a "Three-Three-Three" development strategy to establish three product lines: green ammonia, green alcohol, and green aviation fuel [2] - The company aims to create a replicable development model for its first demonstration projects in green ammonia, green alcohol, and green aviation fuel [2] Group 3: Market and Policy Changes - The National Energy Administration issued new auxiliary service market rules on May 20, 2025, which will take effect on June 1, 2025 [2] - The new rules eliminate the tiered pricing for deep peak regulation and align with the provincial new energy grid price [2] - The auxiliary service fees will no longer be generated under the new market operation rules [2] Group 4: Project Updates - The Daan wind-solar hydrogen synthesis ammonia integration project has completed mechanical completion and is in the sub-commissioning phase [2] - The Lishu wind-solar green hydrogen biomass coupling green methanol project is currently in the preliminary work phase [2] - The company is advancing the BaiCheng thermal power supply unit project [2]