凯盛新能2025年度报告

H 股股份代號：1108A 股股份代號：600876( 於中華人民共和國註冊成立之股份有限公司 ) 年 度 報 告2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .68. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .80. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .89 .. . . . 2025982,732,432.85914,340,285.2720256,675,861.302025647,750,718.872025 202512 31647,750,718.872025 . . . . Triumph New Energy Company LimitedTRIUMPH NEW EN . 986-379-6390883386-379-63251984ksxnzqb@zhglb.com . 99471009http://www.zhglb.com/ksxn@zhglb.com . http://www.sse.com.cnhttp://www.hkexnews.hk 20233 3A 20233 22H . . 6,100552.83.1 . 2025 20251100GW600GW85%60%47%48%20251–1213426.4%680GW9.7%620GW5.4% 20252025255150%5388%50%80% . 2025202542025960%30%203035%2025–2026202510 . 20253229%913611%3123% . 6,1001200t/d80%74.60%1501200t/d1200t/d202542000t/d 202516%60%90% 2530%12% . 2745022461164536432 500 . 3,243,535,078.581,350,912,225.13970,881,049.02190,189,043.34914,340,285.27304,409,965.611.4273.33%20248.88 1. . . 2. 3,243,535,078.5829.40%3,642,150,154.5724.03% (1). . (1). . . . . 303012030-40304019640-5040508050-60506025600 . 5. (1)736,029,327.59393,894,521.10342,134,806.49(2)428,312,306.31569,345,714.34141,033,408.03(3)1,155,059,600.12862,971,071.63292,088,528.49 . . . 1. 202512 31121,403,386.8947.80202412 31662,758.12202412 31130,564,767.609,161,380.71 202512 316,635,894,880.42202412 315,101,697,302.17202430.07%3,348,221,297.64202412312,829,365,698.22202418.34%3,102,880,861.62202412 314,017,221,146.89202422.76% 202512 310.462024 12 310.650.312024 12310.412.5120243.633.8020245.40 202512 316,395,600,231.70202412 315,306,925,938.88 2,454,174,045.982,110,045,192.541,548,524.86321,081,815.9221,498,512.66 3,936,968,598.82762,676,631.80202412 313,660,444,547.71 2025123173.33%2024123164.45%8.88 20251231317.86%2024 12 31194.18%123.68 . 2. . . 1. 74.60%3.731501200t/d2024123074.60%20254 25202520255 2674.60% . 2. 2000t/d13.9950.970.71% 1200t/d2.291.67%12.359.07% 21200t/dAB85%2.221.63%17.9013.15% . 10% . 202512 31 . 1. 73.33%64.45%8.88 38 223446 912 . 9. 202512 31647,750,718.87 . 2021–20252025121200GW35.4%2023–20252025300GW 2025–202620262026 . 2025–20262026180GW240GW20252027238GW287GW 2026 . (3) . (4) . . C1 . 1. 2. 1/2 14 . . . 2:2024202457,600.0088,280.00 . . . . 1.202512 313522.202512 313.4.3.09D20256 2720255 293.09D . . . 202515%20265%20275%20285% . 202411 1[2024]79 . . 2024202520252025202420242025 7 . . 3 . 2024 . 5 . 2024(ESG)(ESG) 2 . . . 562,2802,3361,623 . 4,436 23.12% . . . 20263 302025 . . 20263 302025 . . C1 C3 1. (1)423 . 1. (2) (3)2025(ESG) 2. . 2. 8 C1 93961113.92 . 3 . 3.13 . 20263 302025 2025 202512 31 . 202515 10%1%1%102 7 . e + . . . 202520263 302025http://www.zhglb.com/ . . . . . . . . . 1. 202512 31 . 1. . 1. . 1. 14A202312 2720242 52024 3101740202512 31(1)(2)(3)(4)14A.56 . 1. 202512 31(1)(2)(3) 2. 20259800t/d800t/d720,000.00 . 1. 202412 3037,30037,30014A20255 2674.6%20255 202412 302024-04020255 262025-010http://www.sse.com.cnhttp://www.hkexnews.hk 2. . 2. . 3. 14A14A14A . 1. . 2025204,808.66204,808.66 . . . . 28,77528,163 . . . 10 . . . 2. 3. . 202512 31XV23336 2XV 329,515,000AXV . (2026)110A006376 . 202512 312025 202512312025 . . 2734 . . . . 113423 1. 202512 3118.682.1716.5153.63% 2. (1)(2)(3)(4)(5) . . 13347 1. 202512 318.682024123117.24% 2. (1)(2)(3)(4)(5)(6) . . 1734910 1. 202512 3193.7668.87%0.68 2. (1)(2)(3)(4)(5)(6) . . (7) . 2025 . . . (1)(2)(3)(4)(5)(6) . . • . . 1. 19944 619946 29H19959 29A914103006148088992645,674,963.0020232 169 20216 21[2021]2104UBS AG3--97,134,531197,134,531.00645,674,963 . 2. . 1. 152023 2. 20242025202512 31-1,374,978,572.8373.33%3,557,263,585.87 (1)(2)(3)(4) . 2. 202512 311236 . .21.24.30 1. 202512 312025 2. 111231 3. 12 4. . 5. 6. (1) . 6. (2) (3) . 7. (1) (2) . 7. (3) (4) . 8. (1) A.B.C.D.E. (2) 9. . 10. 11. (1) . 11. (2) . 11. (2) . 11. (2) (3) . 11. (3) (4) . 11. (5) . 11. 12 12 . 11. (6) 121212 . 11. (6) . 11. (6) 1 2 3 4 5