Financial Performance - For the year ending December 31, 2025, the group recorded a revenue of approximately RMB 3.925 billion, a decrease of about 12.5% compared to RMB 4.484 billion in the same period last year[4]. - The group achieved a profit of approximately RMB 691.3 million, with the attributable profit to the company amounting to RMB 281.4 million, marking a turnaround from a loss of RMB 551.4 million in the previous year[3][4]. - Operating cash flow increased by approximately RMB 156 million year-on-year, totaling about RMB 709 million, which effectively supports the group's capital expenditures and ongoing project investments[6]. - The group's gross profit margin improved from approximately 16.8% in the previous year to about 17.0% during the reporting period, driven by enhanced margins in clean energy EPC, green building, and glass curtain wall businesses[6]. - Interest expenses decreased by RMB 35.66 million, with financing costs expected to further decline in 2026 due to enhanced capital management[7]. - The group recorded revenue of approximately RMB 3.925 billion, a decrease of about 12.5% compared to the same period last year[39]. - The net profit for the year was RMB 69.1 million, significantly up from RMB 17.3 million in 2024, marking an increase of approximately 299.4%[59]. - The company reported a basic and diluted earnings per share of RMB 0.011 for 2025, compared to a loss per share of RMB 0.022 in 2024[60]. Business Strategy and Development - The group plans to deepen its AI digital transformation and explore the construction of an industrial internet platform in 2026, focusing on data-driven manufacturing capabilities[3]. - The group is actively shifting its strategy in the glass curtain wall business from "scale expansion" to "profit quality," focusing on selective projects[5]. - The group is focusing on three core areas: wind power, photovoltaics, and energy storage, to strengthen its market position and operational efficiency[13]. - The group aims to strengthen its overseas clean energy business and high-end glass curtain wall business, enhancing the proportion of overseas business in overall performance[25]. - The group plans to accelerate the implementation of major clean energy projects in emerging markets such as Southeast Asia, Central Asia, and Africa, leveraging a dual-engine strategy of "technology customization + local deep cultivation"[26]. - The group is exploring a closed-loop model of "development - construction - grid connection - transfer" to accelerate capital turnover and control the proportion and cycle of self-owned power stations[30]. Market and Industry Trends - The group experienced a significant reduction in new energy EPC business due to unclear provincial electricity pricing policies following the implementation of new reforms in January 2025[5]. - The total installed capacity of wind and photovoltaic power in China reached 1.84 billion kilowatts by 2025, accounting for 47% of total power generation capacity, surpassing thermal power for the first time[9]. - By 2030, the government aims to establish a multi-level consumption control system, supporting over 200 million kilowatts of new energy consumption annually, primarily from renewable sources[11]. - The energy storage project has achieved a significant breakthrough, transitioning from a cost component of renewable energy generation to an independent market entity, with a focus on expanding energy storage EPC business[17]. Operational Efficiency and Cost Management - The group has implemented a market-oriented pricing system to replace fixed pricing, aiming to stabilize investment returns and improve the purchasing electricity system[10]. - The group will focus on optimizing asset quality and structure, transitioning from passive asset holding to active management of asset value[28]. - The group aims to reduce financing costs by issuing RMB 2.5 billion bonds by 2025, which is expected to save approximately RMB 20 million in financing costs in 2026[31]. - The group will prioritize projects with favorable payment conditions and clear connection networks to minimize non-technical costs in power station investments[29]. - The group has established a new trading model centered on professional trading management, effectively responding to external uncertainties and ensuring stable business growth[22]. Research and Development - The group has successfully developed high-performance wide-temperature liquid crystal smart film products, achieving recognition as a high-tech product in Guangdong Province for 2025[24]. - The new materials segment aims to enhance product performance, quality, and added value, focusing on high-value applications in automotive, construction, and consumer electronics sectors[37]. - The new materials segment has obtained 14 invention patents during the reporting period, bringing the total to 118 effective patents, and has participated in the compilation of 3 national standards[38]. - The group plans to continue researching advanced technologies such as PDLC and EC to expand the application boundaries of smart light control products by 2026[38]. Financial Position and Assets - As of December 31, 2025, the company had outstanding bank and other loans of approximately RMB 8.87 billion, with an effective interest rate ranging from 2.8% to 6.8%[51]. - Total assets increased to RMB 24,906,332 thousand in 2025, up from RMB 22,805,882 thousand in 2024, representing an increase of approximately 9.2%[61]. - Total liabilities rose to RMB 19,276,957 thousand in 2025, compared to RMB 17,502,133 thousand in 2024, indicating an increase of approximately 10.1%[62]. - The company's cash and cash equivalents decreased to RMB 297,931 thousand in 2025 from RMB 823,022 thousand in 2024, a decline of about 63.8%[61]. - The company reported a significant decrease in contract assets, which fell to RMB 1,913,519 thousand in 2025 from RMB 3,752,897 thousand in 2024, a decrease of approximately 48.9%[61]. Corporate Governance and Compliance - The company has adopted good corporate governance elements to ensure effective accountability within its management structure[90]. - The company has established an audit committee to oversee the financial reporting process and internal control procedures[92]. - The company did not buy, sell, or redeem any of its listed securities during the reporting period[93]. - The financial statements for the year ending December 31, 2025, are consistent with the audited consolidated financial statements[94].

中國水發興業能源集團有限公司 （股份代號：750） 董事會會議通告 中 國 水 發 興 業 能 源 集 團 有 限 公 司（「本公司」）董 事 會（「董事會」）宣 佈，本 公 司 謹 訂 於 二 零 二 六 年 三 月 三 十 日（星 期 一）舉 行 董 事 會 會 議，以 考 慮 及 批 准 本 公 司 及其附屬公司截至二零二五年十二月三十一日止年度之年度財務業績及其公 告，及 考 慮 派 發 末 期 股 息（如 有）。 承董事會命 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 China Shuifa Singyes Energy Holdings Limited 中國水發興業能源集團有限公司 （於百慕達註冊成立之有限公司） 副主席兼執行董事 周廣彥 香 港，二 零 二 六 年 三 月 十 三 日 於 本 公 告 日 期，執 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國水發興業能源集團有限公司 呈交日期: 2026年3月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00750 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,200,000,000 | USD | | 0.01 | USD | | 32,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 3,200,000,000 | USD | | 0.01 | USD | | 32,000,000 | 本月底法定/ ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國水發興業能源集團有限公司 呈交日期: 2026年2月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00750 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,200,000,000 | USD | | 0.01 | USD | | 32,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 3,200,000,000 | USD | | 0.01 | USD | | 32,000,000 | 本月底法定/ ...

Core Viewpoint - The Hong Kong stock market saw significant gains in solar energy stocks, driven by Tesla CEO Elon Musk's support for space solar power and production capacity plans disclosed during the World Economic Forum [1] Group 1: Stock Performance - Kaisa New Energy surged over 24%, closing at 4.740 with a market cap of 30.6 billion and a year-to-date increase of 27.76% [2] - Flat Glass Group rose over 10.58%, with a latest price of 11.920 and a market cap of 279.27 billion, marking a year-to-date increase of 26.41% [2] - GCL-Poly Energy increased by 9.52%, with a current price of 1.610 and a market cap of 25.02 billion, reflecting a year-to-date growth of 98.77% [2] - Xinyi Solar gained 8.67%, priced at 3.510 with a market cap of 321.06 billion, showing an 18.18% increase year-to-date [2] - GCL Technology rose by 8.41%, with a price of 1.160 and a market cap of 385.31 billion, representing a 9.43% year-to-date increase [2] - New Energy Technology saw a 7.77% rise, priced at 7.910 with a market cap of 113.11 billion, reflecting a 7.62% increase year-to-date [2] - Canadian Solar increased by 7.48%, with a price of 0.115 and a market cap of 1.22 billion, marking a 13.86% year-to-date increase [2] - Xinyi Energy rose by 5.17%, priced at 1.220 with a market cap of 103.94 billion, showing a 10.91% increase year-to-date [2] - Sunshine Energy increased by 3.90%, with a price of 0.080 and a market cap of 2.66 billion, reflecting a 2.56% year-to-date increase [2] - Xinyi Glass rose by 3.41%, priced at 9.100 with a market cap of 402.59 billion, marking a 10.04% year-to-date increase [2] - Shunfeng International Clean Energy increased by 3.08%, with a price of 0.234 and a market cap of 590 million, showing a year-to-date decrease of 1.68% [2] Group 2: Industry Insights - Elon Musk emphasized the collaboration between SpaceX and Tesla to enhance solar energy production, targeting an annual manufacturing capacity of 100GW within the next three years [1]

Core Viewpoint - The Hong Kong stock market saw a significant rise in solar energy stocks, driven by Elon Musk's support for space solar power and production capacity plans disclosed during the World Economic Forum [1] Group 1: Stock Performance - Jinko Solar (凯盛新能) surged over 24%, with a year-to-date increase of 27.76% and a market capitalization of 30.6 billion [2] - Flat Glass Group (福莱特玻璃) rose over 10.58%, with a market cap of 279.27 billion and a year-to-date increase of 26.41% [2] - GCL-Poly Energy (协鑫新能源) increased by 9.52%, boasting a remarkable year-to-date increase of 98.77% and a market cap of 25.02 billion [2] - Xinyi Solar (信义光能) saw an 8.67% rise, with a market cap of 321.06 billion and a year-to-date increase of 18.18% [2] - GCL-Technology (协鑫科技) rose by 8.41%, with a market cap of 385.31 billion and a year-to-date increase of 9.43% [2] - New Energy Technology (新特能源) increased by 7.77%, with a market cap of 113.11 billion and a year-to-date increase of 7.62% [2] - Canadian Solar (卡姆丹克太阳能) rose by 7.48%, with a market cap of 1.22 billion and a year-to-date increase of 13.86% [2] - Xinyi Energy (信义能源) increased by 5.17%, with a market cap of 103.94 billion and a year-to-date increase of 10.91% [2] - Sunshine Energy (阳光能源) rose by 3.90%, with a market cap of 2.66 billion and a year-to-date increase of 2.56% [2] - Xinyi Glass (信义玻璃) increased by 3.41%, with a market cap of 402.59 billion and a year-to-date increase of 10.04% [2] - Shandong Water Development (水发兴业能源) rose by 3.08%, with a market cap of 590 million, but a year-to-date decrease of 1.68% [2] Group 2: Industry Insights - Elon Musk announced that SpaceX and Tesla are working together to enhance solar energy production capacity, aiming for an annual manufacturing capability of 100 GW within the next three years [1]

Group 1 - The 2026 CES in Las Vegas showcased numerous Chinese companies with leading technologies, highlighting "Chinese manufacturing" [1] - TCL participated for the 33rd time, becoming the largest Chinese brand by exhibition area, focusing on "screen universe" and "AI life" [1] - TCL aims to enhance R&D in AI applications and next-generation display technologies, exploring foundational and cutting-edge technology [1] Group 2 - Hisense, as the global official sponsor of the 2026 World Cup, presented customized products and showcased breakthroughs in AI and smart hardware [1] - Hisense unveiled its first commercial humanoid robot, Harley, which interacts with visitors and explains the advantages of its "black technology" products [1] - BOE exhibited over 60 cutting-edge display technologies and IoT solutions, including the global debut of the "HERO2.0 smart cockpit" [2] Group 3 - New Stone, a leader in unmanned delivery, introduced AI-driven next-generation logistics solutions and showcased its RoboVan product line [2] - New Stone aims to accelerate global development, targeting over 50,000 overseas deliveries of unmanned vehicles by 2027 [2] - CES is recognized as one of the largest consumer technology events globally, featuring over 4,100 exhibitors from more than 150 countries, focusing on AI, digital health, energy technology, and robotics [2]

China Shuifa Singyes Energy Holdings Limited 中國水發興業能源集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：750） 補充公告 (1)須予披露交易 出 售100%出售公司股權 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 及 (2)關連交易 出 售100%出售公司股權 茲提述(i)本 公 司 日 期 為 二 零 二 五 年 十 二 月 二 十 九 日 之 公 告，內 容 有 關 珠 海 興 業向山東北資出售持有的水興新能源(河 源)有 限 公 司（「河 源」）100%股 權；及(ii) 本 公 司 日 期 為 二 零 二 五 年 十 二 月 二 十 九 日 之 公 告，內 容 有 關 水 發 綠 色 能 源 向 深 圳 北 資 出 售 持 有 的 興 民 能 源（濟 南）有 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 II. 已發行股份及/或庫存股份變動 致：香港交易及結算所有限公司 公司名稱: 中國水發興業能源集團有限公司 呈交日期: 2026年1月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00750 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,200,000,000 | USD | | 0.01 | USD | | 32,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 3,200,000,000 | USD | | 0.01 | USD | | ...

Core Viewpoint - The company is divesting its 100% stake in Shui Xing New Energy (Heyuan) to Shandong Beizi for a total consideration of RMB 146.695 million, which includes RMB 14 million in debt repayment, as part of its strategy to optimize asset structure and improve operational efficiency [1] Group 1: Transaction Details - The equity transfer agreement was signed on December 29, 2025, between Zhuhai Xingye (the seller) and Shandong Beizi (the buyer) [1] - The total consideration for the sale is RMB 146.695 million, which includes the assumption of debts amounting to RMB 14 million [1] Group 2: Strategic Focus - The company aims to leverage its extensive experience and market insights in the clean energy sector to achieve breakthroughs in its core business [1] - The focus will be on launching existing projects and prioritizing high-return, low-risk quality energy projects, while also nurturing new industries such as high-end curtain walls, smart energy-saving buildings, and new materials [1] Group 3: Asset Optimization - The divestment aligns with the company's strategy to streamline operations by shedding low-quality assets and underperforming businesses, thereby reducing systemic risks and promoting sustainable development [1] - The transaction is expected to enhance resource allocation, improve cost management, and allow the company to concentrate on its core business strategies [1]