证券日报网讯1月23日，三峡能源（600905）在互动平台回答投资者提问时表示，从股权关系来说，公 司直接持有金风科技（002202）股票，金风科技所持有资产与公司不存在股权关系。 ...

Core Viewpoint - The company, Three Gorges Energy, reported an increase in accounts receivable, primarily driven by renewable energy price surcharges, and emphasized the importance of timely project settlements in the evolving electricity market [1] Group 1: Financial Performance - As of September 2025, the company's accounts receivable reached 46.6 billion yuan, reflecting a growth of 4.17% compared to the beginning of the year [1] - Over 90% of the accounts receivable is attributed to renewable energy price surcharges [1] Group 2: Market Dynamics - The company is closely monitoring the progress of national fiscal public budget allocations and actively communicating with industry authorities to ensure timely settlements for eligible projects [1] - The relationship between operational indicators and power generation has become more complex, evolving from a simple linear relationship in traditional energy to a multi-factor dynamic coupling in the renewable energy sector [1] Group 3: Influencing Factors - Operational indicators are influenced by multiple internal and external factors, including resource endowment, market policies, business scale, and the development stage of the industry [1]

Core Viewpoint - The company emphasizes its commitment to asset rotation and management, focusing on optimizing asset quality by disposing of non-strategic or underperforming assets [1]. Group 1 - The company has been actively managing its assets in recent years [1] - It aims to timely dispose of equity and assets that do not meet strategic significance or operational expectations [1] - The strategy is part of the company's broader goal to enhance asset quality [1]

（编辑 王雪儿） 证券日报网讯 1月23日，三峡能源在互动平台回答投资者提问时表示，上市是公司发展的重要里程碑， 为公司未来经营发展提供资金，并帮助公司增强投资能力，推动管理水平提升，增强核心竞争力，加速 治理体系和治理能力现代化建设。 ...

Group 1 - The core viewpoint of the article is that Sanxia Energy (600905) is implementing a strategy focused on "technology leadership, standard prioritization, and project implementation" to enhance its technological adaptation and application [1] Group 2 - The company is actively engaging with investors through interactive platforms to communicate its strategic initiatives [1] - The emphasis on technology and standards indicates a commitment to innovation and quality in project execution [1] - The strategic approach aims to deepen the integration of technology within the company's operations [1]

Core Viewpoint - The company is implementing a series of efficiency improvement initiatives starting from 2025, focusing on optimizing resources and enhancing operational management [1] Group 1: Efficiency Improvement Actions - The company is conducting quality and efficiency enhancement actions by optimizing and integrating construction resources [1] - It aims to promote refined management and strengthen cost control through comprehensive management of safety, quality, progress, and costs [1] - The company is adopting regional centralized control and smart operations to reduce operational and maintenance costs while improving power plant efficiency [1] Group 2: Financial Management Strategies - The company is enhancing its research on capital markets and credit policies to better seize market opportunities and reduce financing costs [1] - It is strictly managing daily expense budgets and reinforcing process control to cut down on administrative expenditures [1]

证券日报网讯1月23日，三峡能源（600905）在互动平台回答投资者提问时表示，公司利润受发电量、 上网电价、营业成本费用等多重因素叠加影响。公司新能源利用率呈现区域性差异，西部省份消纳相对 不足，而东部沿海省份消纳态势良好。面对当前消纳形势，公司通过提高功率预测准确度、提高设备运 行效率、积极参与市场交易等多种措施提高发电水平与消纳能力，整体上风电、太阳能发电利用小时数 优于全国平均水平。 ...

Group 1 - The core viewpoint of the article is that Sanxia Energy (600905) is implementing RPA (Robotic Process Automation) technology to enhance its financial operations by the end of 2024 [1] Group 2 - The company has engaged with investors through an interactive platform to communicate its technological advancements [1] - The deployment of RPA is aimed at improving efficiency in handling financial business processes [1]

Group 1 - The power sector experienced a slight increase of 0.05% on the previous trading day, with TuoRi New Energy leading the gains [1] - The Shanghai Composite Index closed at 4136.16, up by 0.33%, while the Shenzhen Component Index closed at 14439.66, up by 0.79% [1] - Notable gainers in the power sector included TuoRi New Energy, which rose by 10.08% to a closing price of 5.46, and Solar Energy, which increased by 10.06% to 5.69 [1] Group 2 - The power sector saw a net outflow of 2.42 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.746 billion yuan [2] - The trading volume for TuoRi New Energy was 831,900 shares, with a total transaction value of 448 million yuan [1] - The stock performance of major companies showed varied results, with some experiencing declines, such as Shimao Energy, which fell by 2.52% to 27.44 [2] Group 3 - TuoRi New Energy had a net inflow of 230 million yuan from institutional investors, representing 51.41% of its trading volume [3] - Solar Energy experienced a net outflow of 197 million yuan from retail investors, indicating a shift in investor sentiment [3] - The overall trading dynamics in the power sector reflected a mixed sentiment, with significant inflows from retail investors countering the outflows from institutional investors [2][3]

Core Insights - The six major power generation groups in China have reported significant achievements in profitability, supply security, green transformation, and technological innovation during their 2026 annual work meetings, aligning with the national energy strategy and the "14th Five-Year Plan" development priorities [1] Group Performance and Financial Metrics - China Huaneng achieved a significant profit increase, with a debt-to-asset ratio at its lowest in nearly 20 years, consistently receiving top performance ratings from the State-owned Assets Supervision and Administration Commission [2] - China Huadian's total assets are projected to exceed 1.3 trillion yuan by 2025, with a 1.8-fold increase in power and renewable energy project capacity [3] - China Datang reported a profit increase of 16.94% and a net profit growth of 11.6% for 2025, indicating a strong correlation between profit scale and quality [3] - State Power Investment Corporation (SPIC) reduced electricity costs by 15.93 yuan per megawatt-hour, showcasing strong cost control capabilities [3] - Three Gorges Group's asset scale grew by 55% during the "14th Five-Year Plan," reaching 1.52 trillion yuan by 2025 [4] Energy Supply and Capacity Enhancement - The six groups have significantly increased their production capacity and installed power generation capacity, with SPIC's total installed capacity exceeding 396 million kilowatts, a 52.5% increase since the "14th Five-Year Plan" began [7] - China Huaneng's installed capacity surpassed 300 million kilowatts, with a 53.4% increase since the end of the "13th Five-Year Plan" [7] - China Huadian's installed capacity reached 281 million kilowatts, enhancing its supply capabilities [7] - China Datang's installed capacity rose to 220 million kilowatts, contributing to approximately 7% of national electricity supply [8] Green Energy Transition - The six groups are accelerating their green energy initiatives, with significant increases in non-fossil energy installations and contributions to carbon neutrality goals [9] - Three Gorges Group's clean energy generation exceeded 100 billion kilowatt-hours for the first time, with offshore wind power capacity surpassing 8.9 million kilowatts [11] - SPIC's clean energy capacity reached over 200 million kilowatts, with a 74.15% share of total installed capacity [11] - China Huadian's renewable energy capacity increased by 133.4% since 2020, with a clean energy share of 51.21% [12] Technological Innovation and Development - The six groups are focusing on technological self-reliance and innovation, addressing key challenges in the energy sector [13] - China Huaneng has made significant advancements in critical technologies, including the world's largest coal-fired carbon capture demonstration project [13] - China Huadian has developed a comprehensive innovation system, achieving breakthroughs in core technologies [14] - State Power Investment Corporation has enhanced its nuclear power capabilities, achieving 100% localization of key components [15] Strategic Development Goals - The six major groups have outlined clear strategic goals for the "15th Five-Year Plan," focusing on supply security, green transformation, technological innovation, and reform [16] - China Huaneng aims to enhance its competitive edge through innovation and sustainable practices, positioning itself among the world's leading energy companies [16] - SPIC is committed to becoming a world-class clean energy enterprise by 2030, with a focus on balanced growth and technological leadership [17] - Three Gorges Group aims to support national water security and ecological governance while transitioning to a technology-driven operational model [17]