华电国际电力股份有限公司 住所：北京市西城区宣武门内大街 2 号 通讯地址：北京市西城区宣武门内大街 2 号 收购人一致行动人：中国华电香港有限公司 住所：香港湾仔区港湾道二十六号华润大厦 43 层 4305 室 通讯地址：香港湾仔区港湾道二十六号华润大厦 43 层 4305 室 签署日期：二〇二五年五月 声 明 本部分所述词语或简称与本报告书摘要"释义"所述词语或简称具有相同含 义。 收购报告书摘要 上市公司名称：华电国际电力股份有限公司 股票上市地点：上海证券交易所、香港联合交易所有限公司 股票简称：华电国际（A 股）、华电国际电力股份（H 股） 股票代码：600027（A 股）、1071（H 股） 收购人：中国华电集团有限公司 1 1 | | | | 一、收购人：中国华电 | 6 | | --- | --- | | （一）中国华电的基本情况 6 | | | （二）中国华电的股权结构及控制关系 6 | | | （三）中国华电的主营业务及最近三年财务状况 7 | | | （四）中国华电最近五年合法合规情况 8 | | | （五）中国华电的董事、高级管理人员情况 8 | | | 份 5%的情况 9 | | | ...

华电国际电力股份有限公司 住所：北京市西城区宣武门内大街 2 号 通讯地址：北京市西城区宣武门内大街 2 号 收购人一致行动人：中国华电香港有限公司 住所：香港湾仔区港湾道二十六号华润大厦 43 层 4305 室 通讯地址：香港湾仔区港湾道二十六号华润大厦 43 层 4305 室 签署日期：二〇二五年五月 1 声 明 收购报告书 上市公司名称：华电国际电力股份有限公司 股票上市地点：上海证券交易所、香港联合交易所有限公司 股票简称：华电国际（A 股）、华电国际电力股份（H 股） 股票代码：600027（A 股）、1071（H 股） 收购人：中国华电集团有限公司 本部分所述词语或简称与本报告书"释义"所述词语或简称具有相同含义。 一、收购人及其一致行动人依据《中华人民共和国公司法》《中华人民共和 国证券法》《上市公司收购管理办法》《公开发行证券的公司信息披露内容与格 式准则第 16 号——上市公司收购报告书》及相关的法律、法规编写本报告书。 二、依据《证券法》《上市公司收购管理办法》的规定，本报告书已全面披 露收购人及其一致行动人在华电国际拥有权益的股份。 截至本报告书签署日，除本报告书披露的持股信息外，收购人 ...

本公司已于近日完成了华电国际电力股份有限公司 2025 年度第六期中期票据（"本 期债券"）的发行。本期债券发行金额为 20 亿元人民币，期限为 3 年，单位面值为 100 元人民币，发行票面利率为 1.79%。 本期债券由中国银行股份有限公司和中国工商银行股份有限公司主承销，通过簿记 建档、集中配售的方式在全国银行间债券市场公开发行。本期债券募集资金用于偿还发 行人及子公司有息债务及补充营运资金。 证券代码：600027 证券简称：华电国际 公告编号：2025-047 华电国际电力股份有限公司 关于中期票据发行的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 华电国际电力股份有限公司（"本公司"）2023 年年度股东大会于 2024 年 6 月 17 日通过决议，同意本公司自 2023 年年度股东大会批准时起至 2024 年年度股东大会结束 时止，根据本公司资金需求，适时一次或分次发行本金余额不超过等值 600 亿元人民币 的短期融资券、超短期融资券、中期票据、永续票据、高级美元债及永续美元债等境内 外融资工具。 本期 ...

Core Viewpoint - Huadian International plans to acquire 80% equity of Jiangsu Company from China Huadian Group and various stakes in other companies through cash payments, aiming to enhance its asset scale and profitability [1][5]. Group 1: Acquisition Details - Huadian International will acquire 80% of Jiangsu Company for a total consideration of 34.28 billion yuan [2]. - The acquisition includes stakes in Shanghai Fuxin (51%), Shanghai Minhang (100%), Guangzhou University Town (55%), Fuxin Guangzhou (55%), Fuxin Jiangmen (70%), Fuxin Qingyuan (100%), and Guigang Company (100%) [1][2]. - The total cash consideration for the acquisitions amounts to 71.66 billion yuan, with 34.28 billion yuan specifically for Jiangsu Company [2]. Group 2: Financial Performance - As of 2024, Huadian International reported a revenue of 113 billion yuan, a decrease of 3.57% year-on-year, while net profit increased by 26.11% to 5.703 billion yuan [3]. - The latest quarterly revenue was 26.58 billion yuan, down 14.14% year-on-year, with a net profit of 1.93 billion yuan, up 3.66% [3]. - The company’s main business revenue is primarily from electricity and heat sales, accounting for approximately 92.97% of total revenue, with electricity sales being the largest segment at 83.84% [3]. Group 3: Industry Context - Despite the rapid development of renewable energy, coal-fired power remains a critical component of the energy mix, accounting for 43.14% of installed capacity and 67.36% of total generation in 2024 [6]. - The acquisition focuses on traditional coal-fired assets, injecting approximately 16.06 million kilowatts of coal power assets, which will increase Huadian International's total installed capacity to about 75.88 million kilowatts [5]. - The acquisition fills gaps in Huadian International's presence in key economic regions of East and South China [7]. Group 4: Regulatory Environment - The China Securities Regulatory Commission (CSRC) has recently revised the regulations on major asset restructuring for listed companies, facilitating mergers and acquisitions [7]. - Key changes include a phased payment mechanism for share consideration, increased tolerance for financial condition changes, and simplified review procedures for certain transactions [7].

Core Viewpoint - The article highlights the unprecedented high temperatures across various regions in China, leading to increased electricity demand and a positive outlook for the power sector, particularly thermal power companies, amid the ongoing El Niño phenomenon [1][5][8]. Group 1: Weather and Climate Impact - Since mid-June, regions such as Beijing, Tianjin, and Hebei have experienced record-high temperatures ranging from 38°C to 41°C, with 14 national stations breaking historical extremes [1]. - The National Climate Center predicts that most areas in China will see temperatures close to or above normal for the summer, with certain regions experiencing significantly more days of high temperatures [1][6]. - The arrival of El Niño is expected to contribute to 2023 potentially being the hottest year on record, with implications for electricity consumption and demand [1][8]. Group 2: Electricity Demand and Load Growth - The ongoing high temperatures have led to a rapid increase in electricity load, with peak electricity demand occurring earlier than usual [1]. - National grid peak electricity load has risen from 596 million kW in 2010 to 1.29 billion kW in 2022, reflecting a compound annual growth rate (CAGR) of 6.6% [12]. - On June 18, 2023, the Guangdong power grid reached a historical peak load of 128 million kW, with the southern grid surpassing 200 million kW for the first time [14]. Group 3: Power Sector Performance - In the Hong Kong stock market, companies like Huadian International Power, Huaneng International Power, and Datang Power have seen significant stock price increases of 31.3%, 26.83%, and 14.17% respectively this year [1]. - In the A-share market, companies such as Hangzhou Thermal Power and Guizhou Power have reported remarkable gains of 177.89% and 76.27% respectively since the beginning of the year [3][4]. - The thermal power sector is expected to see improved profitability due to lower coal prices and increased electricity demand, with a projected growth in electricity consumption of 4% in the third quarter of 2023 [16][20].

Core Viewpoint - Huadian International has received regulatory approval for its asset restructuring, marking the official start of the implementation phase of the restructuring plan [2][4]. Group 1: Restructuring Details - The restructuring plan involves Huadian International acquiring controlling stakes in eight companies, including Huadian Jiangsu Energy Co., Ltd., for a total consideration of 71.67 billion yuan, funded through share issuance and cash payments [2][5]. - The company plans to raise up to 34.28 billion yuan in supporting funds, with 14.28 billion yuan allocated for cash payments and related fees, and 20 billion yuan for the expansion of the Huadian Wangting 2×66 MW unit project [5][6]. Group 2: Financial Impact - Post-restructuring, Huadian International's installed capacity will increase to approximately 7,588 MW, representing a growth of about 26.85% compared to pre-transaction levels [2][7]. - The projected financials for 2024 indicate that Huadian International's revenue and net profit will reach 141.33 billion yuan and 6.04 billion yuan, respectively, reflecting increases of 25.07% and 5.93% compared to pre-restructuring figures [3][9]. Group 3: Market Context - The restructuring is taking place against a backdrop of recovering profitability in the thermal power sector, with significant improvements in coal and natural gas production and a decrease in prices [7][8]. - In 2024, thermal power generation is expected to account for 67.36% of the total national power generation, indicating a stable demand for thermal energy [7].

证券代码：600027 证券简称：华电国际 公告编号：2025-045 华电国际电力股份有限公司 关于发行股份及支付现金购买资产并募集配套 资金暨关联交易事项获得中国证券监督管理 委员会同意注册批复的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 华电国际电力股份有限公司（以下简称"本公司"）拟通过发行普通股（A 股）及 支付现金的方式购买中国华电集团有限公司持有的华电江苏能源有限公司 80%股权，福 建华电福瑞能源发展有限公司持有的上海华电福新能源有限公司 51%股权、上海华电闵 行能源有限公司 100%股权、广州大学城华电新能源有限公司 55.0007%股权、华电福新 广州能源有限公司 55%股权、华电福新江门能源有限公司 70%股权、华电福新清远能源 有限公司 100%股权，以及中国华电集团北京能源有限公司持有的中国华电集团贵港发 电有限公司 100%股权等，并募集配套资金（以下简称"本次交易"）。 七、你公司在实施过程中，如发生法律、法规要求披露的重大事项或遇重大问题， 应当及时报告上海证券交易所并按有关规定处理 ...

Meeting Information - The annual general meeting of Huadian International Power Co., Ltd. is scheduled for June 17, 2025, at 14:00 [1] - The meeting will be held at Huabin International Hotel, No. 4, Xuanwumen Inner Street, Xicheng District, Beijing [1] - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange's online voting system [1] Voting Details - The online voting period is from June 17, 2025, during trading hours: 9:15-9:25, 9:30-11:30, and 13:00-15:00 [1] - Shareholders can vote via the trading system or the internet voting platform [1] - There are no related shareholders that need to abstain from voting [1] Agenda Items - The meeting will discuss several non-cumulative voting proposals, including: - General authorization for the board to issue and manage additional shares [1] - Adoption of Chinese Accounting Standards for financial reporting and termination of the overseas auditor [1] - Appointment of auditors for the 2025 financial report and internal control [1] - Provision of entrusted loans to China Nuclear Huadian Hebei Nuclear Power Co., Ltd. [1] Attendance Requirements - Shareholders must register with their shareholder account card and ID, while proxies need to present a power of attorney [5] - Registration will take place on June 17, 2025, from 9:00 to 13:00 [5] - The company will cover no expenses for accommodation and transportation for attendees [5]

中国银河证券股份有限公司 关于 华电国际电力股份有限公司 发行股份及支付现金购买资产并募集配套资金 暨关联交易 之 独立财务顾问报告 独立财务顾问 二〇二五年五月 独立财务顾问声明和承诺 一、独立财务顾问声明 （一）本独立财务顾问报告所依据的文件和材料由相关各方提供，相关各方对所 提供文件及资料的真实性、准确性和完整性负责，并保证该等信息不存在虚假记载、 误导性陈述或者重大遗漏。本独立财务顾问不承担由此引起的任何风险责任； （二）本独立财务顾问报告是在假设本次交易各方当事人均全面和及时履行本次 交易相关协议和声明或承诺的基础上出具；若上述假设不成立，本独立财务顾问不承 担由此引起的任何风险责任； （三）对于对本独立财务顾问报告至关重要而又无法得到独立证据支持或需要法 律、审计、评估等专业知识来识别的事实，本独立财务顾问主要依据有关政府部门、 律师事务所、会计师事务所、资产评估机构及其他有关单位出具的意见、说明及其他 文件做出判断； （四）如本独立财务顾问报告中结论性意见利用其他证券服务机构专业意见的， 独立财务顾问已进行了必要的审慎核查。除上述核查责任之外，独立财务顾问并不对 其他中介机构的工作过程与工作结果 ...

华泰联合证券有限责任公司 关于 华电国际电力股份有限公司 发行股份及支付现金购买资产并募集配套资金 暨关联交易 之 独立财务顾问报告 独立财务顾问 签署日期：二〇二五年五月 华泰联合证券有限责任公司 独立财务顾问报告 独立财务顾问声明和承诺 华泰联合证券有限责任公司（以下简称"华泰联合"、"本独立财务顾问"）接受华 电国际电力股份有限公司（以下简称"华电国际"、"上市公司"或"公司"）委托，担 任本次发行股份及支付现金购买资产并募集配套资金暨关联交易（以下简称"本次交易"） 的独立财务顾问，就该事项向上市公司全体股东提供独立意见，并制作本独立财务顾问 报告。 本独立财务顾问核查意见是依据《中华人民共和国公司法》《中华人民共和国证券 法》《上市公司重大资产重组管理办法》《上市公司并购重组财务顾问业务管理办法》《公 开发行证券的公司信息披露内容与格式准则第 26 号——上市公司重大资产重组》《上市 公司监管指引第 9 号——上市公司筹划和实施重大资产重组的监管要求》和《上海证券 交易所上市公司重大资产重组审核规则》等法律法规及文件的规定和要求，以及证券行 业公认的业务标准、道德规范，经过审慎调查，本着诚实信用和勤 ...