Core Viewpoint - The company Zhonglv Electric (000537) has initiated a share buyback program, reflecting its commitment to enhancing shareholder value and aligning with its previously approved plan [2] Group 1: Share Buyback Details - On November 27, the company repurchased 1.114 million shares, accounting for 0.05% of its total share capital, with a total transaction amount of 9.2754 million yuan [2] - The buyback was executed at a maximum price of 8.35 yuan per share and a minimum price of 8.29 yuan per share, while the stock closed at 8.31 yuan per share on the same day [2] - The buyback plan allows for a total expenditure between 61.8428 million yuan and 92.7642 million yuan, with a price cap adjusted to 13.27 yuan per share [2] Group 2: Business Performance - Zhonglv Electric's main business focuses on the investment, development, and operation of wind and solar energy [2] - For the first three quarters, the company reported total operating revenue of 3.707 billion yuan, representing a year-on-year growth of 26.78% [2]

Group 1 - The company Zhonglv Electric (SZ 000537) announced a share buyback of approximately 1.11 million shares, representing 0.05% of its total share capital of about 2.067 billion shares, with a total transaction amount of approximately 9.28 million yuan [1] - The share buyback occurred at a maximum price of 8.35 yuan per share and a minimum price of 8.29 yuan per share [1] - As of the report, Zhonglv Electric has a market capitalization of 17.2 billion yuan [1] Group 2 - For the first half of 2025, Zhonglv Electric's revenue composition shows that 99.22% comes from renewable energy generation, while other industries contribute 0.55% and rental income accounts for 0.23% [1]

| 证券代码：000537 | 证券简称：中绿电 | | | 公告编号：2025-083 | | --- | --- | --- | --- | --- | | 债券代码：148562 | 债券简称：23 | 绿电 | G1 | | | 债券代码：524531 | 债券简称：25 | 绿电 | G1 | | 天津中绿电投资股份有限公司 关于首次回购公司股份的公告 二、其他说明 公司首次回购股份的时间、回购股份的数量及集中竞价交易的委托时段等均符 合《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9 号—— 回购股份》及公司回购股份方案的相关规定。具体情况如下： 1.公司未在下列期间回购股份： （1）自可能对本公司证券及其衍生品种交易价格产生重大影响的重大事项发生 之日或者在决策过程中，至依法披露之日内； （2）中国证监会和深圳证券交易所规定的其他情形。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 天津中绿电投资股份有限公司（以下简称"公司"）分别于 2025 年 8 月 28 日、 2025 年 9 月 16 日召开第十一届董事会第二十次会 ...

中绿电投公告称，公司此前审议通过股份回购议案，回购资金6184.28万 - 9276.42万元，价格上限调为 13.27元/股，期限至2026年9月15日。2025年11月27日首次回购，以集中竞价方式回购111.4万股，占总 股本0.05%，成交金额927.54万元，最高成交价8.35元/股，最低8.29元/股，资金为自有资金，后续将继 续实施回购计划。 ...

Core Viewpoint - The company, Zhonglv Electric, is actively pursuing green electricity direct projects and will participate if internal return requirements are met [2] Group 1 - Zhonglv Electric responded to investor inquiries on November 26 regarding its commitment to green electricity projects [2] - The company is focused on advancing relevant green electricity direct projects [2] - Participation in these projects is contingent upon meeting internal return expectations [2]

Core Viewpoint - The company is actively monitoring green electricity direct projects and is open to participation if internal return requirements are met [1] Group 1 - The company is following up on the progress of relevant green electricity direct projects [1] - The company expresses interest in participating in the Yancheng 75.5GW wind power direct connection project if it meets internal return criteria [1]

Group 1: Operational Scale and Composition - As of June 2025, the company's operational installed capacity is 19.9255 million kW, with wind power accounting for approximately 19.75% and solar power for about 79.24% [1] Group 2: Financial Performance - In the first three quarters of 2025, the company received a total of 1.888 billion yuan in renewable energy subsidies [1] Group 3: Investment Strategy - Following the issuance of Document No. 136, the company is adopting a more cautious investment strategy in new energy projects, focusing on investment returns and optimizing its industrial structure [1] - The company is steadily advancing its "two transfers" strategy, shifting investments from solar to wind power and from the northwest to the central and eastern regions [1] Group 4: Future Planning - The company is actively working on its "14th Five-Year" planning research and will disclose information after completing relevant decision-making procedures [1] Group 5: Energy Storage Projects - The company has invested in various energy storage projects, including a 50,000 kW project in Xinjiang and a 20,000 kW project in Inner Mongolia, in addition to a 17,000 kW project in Qinghai [2] - The company emphasizes the importance of energy storage and thermal projects in its investment layout to address industry challenges [1][2] Group 6: Green Energy Trading - The company actively participates in green electricity and green certificate trading to enhance revenue, aligning with the national "dual carbon" strategy [2]

Group 1: Subsidy and Financial Performance - The company received a total of 1.888 billion CNY in subsidies in the first three quarters of 2025, with recoveries of 1.694 billion CNY, 1.083 billion CNY, and 791 million CNY for the years 2022-2024 respectively. As of the end of Q3 2025, the balance of receivable renewable energy subsidies is 5.498 billion CNY [3][4] - The company has three projects that are included in the subsidy list but did not pass compliance checks, with a total installed capacity of 240,000 kW [4][5] Group 2: Pricing Strategy and Market Adaptation - In response to the implementation of Document No. 136, the company is actively adjusting its pricing strategy to adapt to market fluctuations and explore multiple value opportunities [3][4] - The company combines medium to long-term contracts with spot market participation, locking in most of its electricity sales while leaving a portion for high-price peak periods [4][5] Group 3: Investment Focus and Project Development - As of June 2025, the company has an operational installed capacity of 19.9255 million kW and is focusing on investment returns, shifting from photovoltaic to wind energy and from the northwest to the central and eastern regions [4][5] - The company’s ongoing and planned projects are primarily located in Xinjiang, Qinghai, Gansu, Shaanxi, Hebei, and Guizhou [5][6] Group 4: Energy Storage and Technological Development - The company is increasing its investment in energy storage projects, having already implemented a 50,000 kW electrochemical storage project in Qinghai and is developing additional projects in various regions [5][6] - The company’s energy storage technologies include electrochemical storage, liquid compressed air storage, and flywheel storage, aimed at addressing industry challenges [5][6] Group 5: Market Trends and Challenges - Recent trends indicate a downward fluctuation in electricity market trading prices and an increase in curtailment rates due to a significant rise in renewable energy installations [6] - The curtailment issue is particularly pronounced in western provinces, while eastern coastal provinces like Jiangsu, Shanghai, and Zhejiang have better absorption rates for renewable energy [6][6] Group 6: Management Assessment Criteria - The annual assessment of the company’s management includes performance metrics related to operational results, corporate governance, project expansion, market capitalization management, and party building [6]

天津中绿电投资股份有限公司 2025 年面向专业投资者公开 根据深圳证券交易所债券上市的有关规定，天津中绿电投资股份有限公司 2025 年面向专业投资者公开发行碳中和绿色公司债券（第一期）符合深圳证券 交易所债券上市条件，将于 2025 年 11 月 20 日起在深圳证券交易所上市，并面 向专业投资者中的机构投资者交易，交易方式包括匹配成交、点击成交、询价成 交、竞买成交和协商成交。债券相关要素如下： 在深圳证券交易所上市的公告 | 债券名称 | 天津中绿电投资股份有限公司 2025 | 年面向专业投资者公开发 | | --- | --- | --- | | | 行碳中和绿色公司债券（第一期） | | | 债券简称 | 25 绿电 G1 | | | 债券代码 | 524531 | | | 信用评级 | AAA | | | 评级机构 | 联合资信评估股份有限公司 | | | 发行总额（亿元） | 10 | | | 债券期限 | 10（5+5）年 | | | 票面年利率（％） | 2.35 | | | 利率形式 | 固定利率 | | | 付息频率 | 每年一次 | | | 发行日 | 2025 年 11 月 12 ...

Core Viewpoint - The company emphasizes its commitment to investing in energy storage and solar thermal projects alongside wind and photovoltaic energy, highlighting a diversified approach to renewable energy development [1] Group 1: Investment Focus - The company is actively expanding its investment in energy storage projects, which include various technologies such as electrochemical storage, liquid compressed air storage, and flywheel storage [1] - In addition to existing projects, the company has secured new energy storage projects in multiple regions, including 170 MW in Golmud, Qinghai, 200 MW in Wuhai, Inner Mongolia, and 500 MW in Ruoqiang, Xinjiang [1] Group 2: Project Development - The company has operational energy storage projects, including a 50 MW electrochemical storage facility in Qinghai and a 60 MW liquid compressed air storage project currently under construction [1] - The company is increasing its efforts to identify and develop high-quality energy storage projects in other regions, indicating a proactive approach to expanding its portfolio [1]