（文章来源：证券日报） 证券日报网讯 12月4日，三峡能源在互动平台回答投资者提问时表示，公司三季度业绩详见公司《2025 年第三季度报告》。 ...

证券日报网讯12月4日，三峡能源（600905）在互动平台回答投资者提问时表示，二级市场股价波动受 宏观经济、市场环境、行业竞争等多种因素影响。公司目前生产经营和财务状况正常，不存在应披露而 未披露的重大事项。公司将继续加强市值管理、坚持规范运作，着力推动上市公司市场价值与内在价值 相匹配。 ...

（编辑 楚丽君） 证券日报网讯 12月4日，三峡能源在互动平台回答投资者提问时表示，截至2024年底，公司在福建省的 控股总装机容量为159.89万千瓦，详见公司《2024年年度报告》"第三节 管理层讨论与分析 电力行业经 营性信息分析 装机容量情况分析"。 ...

证券日报网讯12月4日，三峡能源（600905）在互动平台回答投资者提问时表示，三峡能源以促进新能 源消纳利用和支撑电网安全稳定运行为应用场景，持续探索开展电源侧、电网侧的新型储能研究和示范 应用，通过新能源配储、独立储能等形式已并网新型储能规模超过270万千瓦，在储能方面具备较为成 熟的开发经验和一定的技术储备。目前各地区在储能方面市场规则有所不同且政策变化较快，公司将紧 密跟踪各地市场对新型储能尤其是配套储能的准入要求和运用情况，根据市场运行特点，合理确定储能 配置原则，制定项目参与电力市场的运营策略，响应电能量、辅助服务等市场价格信号，提升电站整体 收益水平。 ...

证券日报网讯12月4日，三峡能源（600905）在互动平台回答投资者提问时表示，截至2025年9月末，公 司应收账款466.26亿元，主要为应收可再生能源电价附加。1-9月累计回收可再生能源电价附加超过去 年全年水平。公司一直在密切关注可再生能源电价附加拨付情况，确保应收尽收。积极配合可再生能源 电价附加核查工作，持续关注核查工作进展。 ...

证券日报网讯12月4日，三峡能源（600905）在互动平台回答投资者提问时表示，公司通过上证e互动、 投资者热线、邮箱等各类渠道，认真听取投资者意见建议。 ...

人民财讯12月4日电，企查查APP显示，近日，三峡(澄城)新能源发电有限公司成立，法定代表人为闵宏 伟，注册资本为1100万元，经营范围包含：风力发电技术服务；太阳能发电技术服务；发电业务、输电 业务、供(配)电业务。企查查股权穿透显示，该公司由三峡能源（600905）全资持股。 ...

今年前三季度，前海实现地区生产总值2250.8亿元、增长5.5%；1-10月实现进出口总额6124.5亿元、增 长4.5%，实际使用外资161亿元、增长27.1%，占深圳市54.2%。当前，前海已吸引超1.2万家外商投资企 业落户、183家世界500强企业投资布局，如西门子、汇丰、IBM、瑞银等。 "前海已经形成香港研发、前海转化、深圳制造的创新链条，这对央企发挥好香港高校创新资源，实现 重大突破及转化，特别是技术研究突破和加速发展具有很好的实操意义。"参会董事代表说。 近年来，央企将目光着重瞄向战略性新兴产业。国务院国资委数据显示，"十四五"以来，中央企业在战 略性新兴产业领域累计投资8.6万亿元，在集成电路、生物技术、新能源汽车等领域发展速度明显加 快。不少中央企业设立了创投基金，目前总规模近千亿元，积极投早、投小、投长期、投硬科技，形成 了产融结合的新模式。 12月3日，中央企业专职外部董事团赴深圳前海开展座谈交流、实地调研。 21世纪经济报道记者了解到，参与此次前海行的央企包括三峡集团、航空工业集团、中远海运等绿色能 源、先进制造、海洋经济龙头企业，中旅集团、南光集团等在香港、澳门的央企，以及中国国新 ...

Core Insights - The first integrated demonstration project for green hydrogen by the Three Gorges Group has completed debugging at the Inner Mongolia Sanxia Wulanchabu source network load storage technology research and testing base [1] - The project focuses on four core areas: hydrogen production, storage, transportation, and refueling, creating a complete closed-loop process for green hydrogen [1] Group 1: Hydrogen Production - The project utilizes Proton Exchange Membrane (PEM) electrolysis technology to match the volatility of wind and solar resources, designed for renewable energy absorption and load regulation [1] - The electrolysis system has a second-level response capability, effectively adapting to the intermittent and fluctuating output of renewable energy [1] Group 2: Hydrogen Storage and Transportation - The project addresses industry pain points such as low hydrogen density, storage and transportation difficulties, and high costs by implementing a multi-pressure level hydrogen storage system [2] - A low-temperature liquid hydrogen tank capable of meeting a 7-day storage requirement has been constructed, exploring the technical path for collaborative storage and transportation of high-pressure gaseous hydrogen and liquid hydrogen [2] Group 3: Refueling and Application - The project has developed a hydrogen refueling testing platform that operates reliably in extreme cold conditions, specifically designed for temperatures as low as -30 degrees Celsius [2] - The system features automated control throughout the entire process and supports testing requirements for two mainstream pressure levels of 35 MPa and 70 MPa [2] - A 200 kW/120-hour hydrogen fuel cell combined heat and power storage system has been built to validate the application potential of green hydrogen as a zero-carbon energy source [2]

Investment Rating - The report maintains a "Positive" investment outlook for the public utilities and environmental sectors, particularly in the context of recent regulatory changes and market dynamics [1]. Core Insights - The report highlights the regulatory measures in various provinces aimed at standardizing the retail price differences in electricity sales, which is expected to stabilize market expectations and improve the profitability of electricity sales companies [3][7]. - It notes the fluctuating natural gas prices globally, with U.S. prices rising while European prices are declining, indicating a complex supply-demand landscape influenced by geopolitical factors and seasonal demand [12][22]. - The report provides specific investment recommendations across various segments, including hydropower, thermal power, nuclear power, green energy, and gas-related companies, reflecting a diversified approach to capitalize on emerging opportunities [10][37]. Summary by Sections 1. Electricity: Regulation of Retail Price Differences - Guangdong has issued guidelines to regulate the retail price differences, proposing a sharing mechanism for excess profits above a set threshold starting in 2026 [7]. - Several provinces have introduced detailed policies to manage retail price differences, aiming to prevent excessive profits by electricity sales companies and ensure fair pricing for consumers [8][9]. - The report emphasizes the need for a shift from aggressive pricing strategies to a service-oriented business model for electricity sales companies, which could stabilize market expectations [9]. 2. Natural Gas: Global Price Fluctuations - As of November 28, U.S. Henry Hub spot prices reached $4.59/mmBtu, reflecting an 11.13% weekly increase, while European prices, such as TTF, fell by 5.37% to €28.75/MWh [12][13]. - The report notes that U.S. natural gas demand has surged due to cold weather, despite record production levels, leading to a tightening supply-demand balance [16]. - In Northeast Asia, LNG prices have decreased to $10.90/mmBtu, down 6.52% week-on-week, driven by weak demand and high inventory levels [31][34]. 3. Investment Recommendations - Hydropower: Favorable autumn floods are expected to enhance hydropower generation capacity for the winter and spring, with recommendations for major hydropower companies [10]. - Thermal Power: The diversification of revenue sources in thermal power companies is highlighted, with recommendations for integrated coal and power companies [11]. - Nuclear Power: The report suggests focusing on nuclear power companies due to stable cost structures and expected growth from new approvals [11]. - Green Energy: The introduction of new market rules for renewable energy is expected to stabilize returns for green energy operators [11]. - Gas and Environmental Companies: Recommendations include integrated gas trading companies and environmentally focused firms benefiting from regulatory changes [37].