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，並明確表示概不會就本公告全部或任何部分 內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 CGN NEW ENERGY HOLDINGS CO., LTD. 中國廣核新能源控股有限公司 （於百慕達註冊成立的有限公司） （股份代號：1811） 須予披露交易 工程、採購及施工（工程總承包）合同 工程總承包合同 於2025年11月26日（交易時段後），本公司全資附屬公司中廣核新能源鹽城（作為僱 主）與中國能源建設江蘇院（作為承包商）訂立工程總承包合同，據此，中廣核新能 源鹽城同意委聘中國能源建設江蘇院進行建築工程。根據工程總承包合同，中廣 核新能源鹽城應付的合同價約為人民幣567.2百萬元（包括稅項）。 上市規則的涵義 由於工程總承包合同項下擬進行交易涉及的最高適用百分比率超過5%但低於 25%，故根據上市規則第十四章，工程總承包合同構成本公司的須予披露交易，因 此須遵守上市規則第十四章項下的申報及公告規定。 – 1 – 標的事項： 承包商將獲委任為進行建築工程的承包商。 建築工程的範圍包括項目的設計 ...

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，並明確表示概不會就本公告全部或任何部分 內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 CGN NEW ENERGY HOLDINGS CO., LTD. 中國廣核新能源控股有限公司 （於百慕達註冊成立的有限公司） （股份代號：1811） 持續關連交易 電力營銷業務服務框架協議 電力營銷業務服務框架協議 董事會宣佈，於2025年11月26日，中廣核深圳（為本公司全資附屬公司）與中廣核風 電（為中廣核非全資附屬公司）訂立電力營銷業務服務框架協議，據此，中廣核深 圳同意向中廣核風電提供電力營銷業務服務。 上市規則的涵義 於本公告日期，中廣核風電為中廣核的非全資附屬公司，而中廣核為本公司控股 股東，間接持有本公司已發行股本約72.30%。因此，根據上市規則，中廣核風電為 本公司的關連人士，且電力營銷業務服務框架協議項下擬進行的交易構成上市規 則第十四A章所指本公司的持續關連交易。 由於與年度上限有關的最高適用百分比率超過0.1%但低於5%，因此電力營銷業務 服務框架協議項下擬進行的交易須遵守上市規則 ...

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，並明確表示概不會就本公告全部或任何部分 內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 CGN NEW ENERGY HOLDINGS CO., LTD. 中國廣核新能源控股有限公司 （於百慕達註冊成立的有限公司） （股份代號：1811） 持續關連交易 運檢服務框架協議 運檢服務框架協議 董事會宣佈，於2025年11月26日，中廣核雲南（為本公司全資附屬公司）與中廣核楚 雄牟定（為中廣核非全資附屬公司）訂立運檢服務框架協議，據此，中廣核雲南同 意向中廣核楚雄牟定及╱或其他指定人士提供運檢服務。 上市規則的涵義 於本公告日期，中廣核楚雄牟定為中廣核的非全資附屬公司，而中廣核則為本公 司的控股股東，間接持有本公司已發行股本約72.30%。因此，根據上市規則，中廣 核楚雄牟定為本公司的關連人士，且運檢服務框架協議項下擬進行的交易構成上 市規則第十四A章所指本公司的持續關連交易。 由於與年度上限有關的最高適用百分比率超過0.1%但低於5%，因此運檢服務框架 協議項下擬進行的交易須遵守上市規則第十四A章 ...

Core Viewpoint - Shanghai Electric Wind Power Group has successfully won the bid for the procurement of onshore wind turbine units for the CGN New Energy Chongqing Youyang Daping 101MW onshore wind power project, indicating a continued expansion and deepening of cooperation in the wind power sector [1] Company Summary - Shanghai Electric Wind Power Group will provide onshore excellent platform units for the project, showcasing its capabilities in wind power technology [1] Industry Summary - The collaboration between Shanghai Electric Wind Power Group and CGN New Energy reflects ongoing developments and investments in the wind power industry, particularly in onshore projects [1]

Core Viewpoint - The Chinese solar thermal power industry is growing at a rate significantly higher than the global average, with a compound annual growth rate of 11.7% compared to the global rate of 4.24% [1] Industry Growth and Capacity - By the end of September 2025, China is expected to have built 21 solar thermal power plants with a total installed capacity of 1.57 million kilowatts, ranking third globally [1] - There are currently 30 projects under construction with an additional capacity of 3.1 million kilowatts, making China a major contributor to new installations in the solar thermal sector [1] Cost Reduction and Technological Advancements - The on-grid electricity price for solar thermal power in China has decreased from 1.15 yuan per kilowatt-hour to approximately 0.6 yuan per kilowatt-hour [1] - The industry is expected to see further cost reductions and enhanced competitiveness during the 14th Five-Year Plan period [1] - China has achieved over 95% localization in technology and equipment for solar thermal power, mastering key technologies such as tower, trough, and Fresnel systems [1] Role of Leading Enterprises - Leading companies like China General Nuclear Power Group (CGN) are playing a crucial role in advancing technology independence, having developed innovative products that fill domestic gaps [2] - CGN is constructing a solar thermal molten salt trough test platform, which is the only project in the solar thermal field included in the first batch of the Central Enterprise Technology Achievement Application Expansion Project [2] Industry Scale and Policy Support - The solar thermal power industry chain in China consists of approximately 440,000 entities, including 14,000 state-owned enterprises and 421,000 private enterprises [3] - In 2024, an additional 250,000 kilowatts of solar thermal power capacity is expected to be added, with the total operational capacity exceeding 800,000 kilowatts [3] Future Outlook - The global solar thermal power industry is projected to grow, with installed capacity expected to reach 22.4 million kilowatts by 2030 and about 10% of global electricity supply coming from solar thermal by 2050 [4] - China's theoretical development potential for solar thermal resources exceeds 1 billion kilowatts, primarily located in resource-rich areas such as Xinjiang, Tibet, Inner Mongolia, Qinghai, and Gansu [4]

Core Insights - China's solar thermal power industry is experiencing rapid growth, with an annual compound growth rate of 11.7%, significantly higher than the global rate of 4.24% [2][6] - The establishment of the Solar Thermal Subcommittee marks a new phase in the industry's development, aiming to enhance collaboration and innovation among stakeholders [7] Industry Growth - From 2020 to 2024, China's solar thermal power capacity is expected to grow at a compound annual growth rate of 11.7%, while the global rate is only 4.24% [2] - As of September 2025, China has built 21 solar thermal power plants with a total installed capacity of 1.57 million kilowatts, ranking third globally [2] - There are 30 ongoing projects with a combined capacity of 3.1 million kilowatts, making China the leading contributor to new installations in the global solar thermal market [2] Cost Reduction and Competitiveness - The cost of solar thermal power projects in China has decreased significantly, with the grid-connected electricity price dropping from 1.15 yuan per kilowatt-hour to around 0.6 yuan per kilowatt-hour [2] - Further cost reductions are anticipated during the 14th Five-Year Plan period, enhancing the industry's competitiveness [2] Technological Advancements - China's solar thermal power industry has achieved over 95% localization in technology and equipment, with key materials and devices being self-sufficient [3] - Significant breakthroughs have been made in key technologies, such as molten salt and tower-type solar thermal systems, which have effectively reduced project costs and improved system efficiency [5] International Expansion - Successful domestic projects, such as the 50 MW solar thermal demonstration project in Delingha, have provided valuable experience for scaling up future projects [6] - Chinese solar thermal technology has been successfully implemented in international projects, including those in Morocco, South Africa, and Dubai, showcasing China's role in global green development [6] Future Outlook - The solar thermal power industry is poised for unprecedented opportunities under the dual carbon goals, with global installed capacity expected to reach 22.4 million kilowatts by 2030 [7] - By 2050, approximately 10% of global electricity supply is projected to come from solar thermal power [7]

Group 1 - The Hong Kong stock market opened slightly higher today, with the Hang Seng Index at 26,754.93 points, up 58.52 points, or 0.22% [1] - The Hang Seng Technology Index rose to 5,939.69 points, increasing by 15.30 points, or 0.26% [3] Group 2 - HeSai-W (HK02525) reported a net income of RMB 795 million for Q3, a year-on-year increase of 47.5%, and a net profit of RMB 256 million, turning from loss to profit. The full-year net profit guidance has been raised to between RMB 350 million and RMB 450 million, with Q4 revenue expected to be between RMB 1 billion and RMB 1.2 billion, a year-on-year growth of approximately 39% to 67% [2] - China General Nuclear Power New Energy (HK01811) announced a cumulative power generation of 15,753.4 GWh for the first ten months, a year-on-year decrease of 3.5% [6] - Dongyao Pharmaceutical-B (HK01875) reported a revenue of RMB 622 million for the nine months ending September 30, 2025, with a net loss attributable to equity holders of RMB 3.371 million [6] Group 3 - The innovative drug sector saw a collective rise in early trading, with companies like BeiGene up over 4%, Kailaiying up over 1.8%, and others like Zhaoyan New Drug, WuXi AppTec, and WuXi Biologics rising over 1% [6] - In the tech sector, Xiaomi rose over 2%, while Tencent and NetEase increased by over 1%. However, Alibaba and Baidu fell by over 2% [8]

Core Viewpoint - China General Nuclear Power Corporation (CGN) New Energy reported a decrease in power generation for 2025 compared to 2024, with specific changes across various energy sources [1] Group 1: Power Generation Data - For the year ending October 2025, the total power generation is projected to be 1,546.6 billion kilowatt-hours, a decrease of 7.4% year-on-year from 2024 [1] - Cumulative power generation for the ten months ending October 31, 2025, is 15,753.4 billion kilowatt-hours, reflecting a 3.5% decrease compared to the same period in 2024 [1] Group 2: Breakdown by Energy Source - Chinese wind power projects are expected to decrease by 8.3% in 2025, while solar projects are anticipated to increase by 43.0% [1] - Water power projects in China are projected to increase by 3.6%, whereas projects in South Korea are expected to decrease by 16.1% [1] - For the ten months ending October 31, 2025, Chinese wind power projects decreased by 2.8%, solar projects increased by 27.6%, gas projects increased by 9.4%, while water projects decreased by 10.9% and South Korean projects decreased by 11.9% [1]

Core Insights - China General Nuclear Power Corporation (CGN) New Energy reported a total electricity generation of approximately 15,753.4 GWh for the first ten months of 2025, representing a year-on-year decrease of 3.5% [1] - The company's wind power projects in China saw a reduction of 2.8%, while solar power projects increased by 27.6% [1] - The overall generation for 2025 is projected to be 1,546.6 GWh, which is a 7.4% decrease compared to 2024 [1] Generation Breakdown - Wind power projects in China decreased by 8.3% in 2025 [1] - Solar power projects in China increased significantly by 43.0% [1] - Hydropower projects in China increased by 3.6%, while projects in South Korea decreased by 16.1% [1] Year-on-Year Comparison - For the first ten months of 2025, the generation from gas projects in China increased by 9.4% [1] - Hydropower projects in China experienced a decrease of 10.9% [1] - South Korean projects also saw a decline of 11.9% [1]

Core Insights - China General Nuclear Power Corporation (CGN) New Energy reported a decrease in total power generation for October 2025, amounting to 1,546.6 GWh, which is a 7.4% decline compared to 2024 [1] Summary by Category Power Generation Performance - The total power generation for the first ten months ending October 31, 2025, reached 15,753.4 GWh, reflecting a 3.5% decrease year-on-year compared to 2024 [1] - Breakdown of power generation changes includes: - Chinese wind power projects decreased by 2.8% [1] - Chinese solar power projects increased by 27.6% [1] - Chinese gas projects increased by 9.4% [1] - Chinese hydropower projects decreased by 10.9% [1] - Korean projects decreased by 11.9% [1] Project-Specific Changes - For October 2025, the changes in specific projects were: - Chinese wind power projects decreased by 8.3% [1] - Chinese solar power projects increased significantly by 43.0% [1] - Chinese hydropower projects increased by 3.6% [1] - Korean projects decreased by 16.1% [1]