Core Viewpoint - The announcement details the resignation of Gao Ping as the Executive Director and President of China Power International Development Limited, effective October 30, 2025, and the appointment of Zhao Yonggang as his successor [1]. Group 1: Personnel Changes - Gao Ping has resigned from his positions as Executive Director, President, and member of various committees due to other work commitments [1]. - Zhao Yonggang, aged 52, has been appointed as the new Executive Director and President, and will also take over Gao Ping's roles in the Risk Management Committee, Strategic and Sustainable Development Committee, and Executive Committee [1][4]. Group 2: Background of New Appointee - Zhao Yonggang holds a Master's degree in Project Management from Changsha University of Science and Technology and is a senior engineer [4]. - Prior to this appointment, Zhao served as Vice President of the company and has held various managerial positions within the organization, including General Manager of International Business Department and General Manager of Hu Bu Power Plant [4]. Group 3: Compliance and Impact Analysis - The personnel changes have followed the necessary internal procedures and comply with the relevant regulations of the Hong Kong Stock Exchange and the company's Articles of Association [5]. - The changes are considered normal and are not expected to have a significant adverse impact on the company's daily management, operations, or debt repayment capabilities [6].

近日，全球最大指数公司明晟(MSCI)公布2025年度ESG评级结果。中国电力(02380)凭借其在清洁能源 转型、公司治理与社会责任等方面的卓越表现，实现ESG评级从BBB级到A级的跃升。 值得注意的是，这一评级是中国发电类央企在该评级体系中获得的最高等级，并创下连续两年持续提升 的纪录，标志着中国电力的可持续发展实践已达到国际优秀水平，卓越的ESG管理能力与长期投资价值 获得充分肯定。 在环境方面，公司大力推进清洁能源项目建设，显著提升风电、光伏等新能源装机比重，以实际行动助 力国家碳减排目标。在履行社会责任方面，公司持续关注员工权益与社区发展，通过如普安发电"映山 红.中电光明行"爱心助学等活动积极回馈社会，展现了央企的担当。同时，中国电力不断优化董事局结 构，强化合规管理与信息披露质量，为公司治理注入了更强韧性与透明度。 展望未来，中国电力表示将继续围绕国家"双碳"战略，加强低碳转型与创新引领，进一步深化ESG体系 建设，加强低碳转型与创新引领，致力于为推动能源可持续发展贡献更多力量。 近年来，中国电力将ESG理念深度融入企业战略与日常运营，积极对标国际先进管理经验，构建了系统 化、专业化的ESG管理 ...

Core Viewpoint - MSCI has upgraded China Power's ESG rating from BBB to A for the year 2025, marking the highest rating achieved by a Chinese state-owned power generation enterprise in this rating system, reflecting the company's commitment to sustainable development and strong ESG management capabilities [1] Group 1: ESG Rating and Achievements - China Power has achieved the highest ESG rating among Chinese state-owned power generation companies, with a continuous improvement record over the past two years [1] - The upgrade to an A rating signifies recognition of the company's sustainable development practices reaching international standards [1] Group 2: ESG Management and Initiatives - The company has integrated ESG principles into its corporate strategy and daily operations, benchmarking against international best practices to establish a systematic and professional ESG management mechanism [1] - In environmental efforts, China Power has significantly increased the proportion of installed capacity from renewable energy sources such as wind and solar power, contributing to national carbon reduction goals [1] - The company actively engages in social responsibility initiatives, focusing on employee rights and community development through programs like the "Ying Shan Hong·China Power Bright Action" educational assistance [1] - China Power has optimized its board structure and enhanced compliance management and information disclosure quality, improving governance resilience and transparency [1] Group 3: Future Outlook - Looking ahead, China Power plans to continue strengthening its low-carbon transition and innovation leadership in alignment with the national "dual carbon" strategy, further deepening its ESG system construction [2]

Market Overview - The three major A-share indices collectively rose slightly today, with the Shanghai Composite Index up 0.55% closing at 3976.52 points, the Shenzhen Component Index up 0.19% at 13404.06 points, and the ChiNext Index up 0.29% at 3196.87 points [3] - The total trading volume in the Shanghai and Shenzhen markets reached 2.1071 trillion yuan, a decrease of 210.7 billion yuan compared to the previous trading day [3] Private Fund Insights - Notable private fund managers, including Yang Dong and Chen Guangming, have announced fund closures, which should be taken seriously by investors. Chen Guangming, a former president of Dongfang Securities, has stated that his firm, Ruiyuan Fund, will no longer accept new subscriptions [4] - The key difference between private and public funds lies in their scale management, with private funds often making timely decisions to reduce size when indices reach certain highs [4] Market Dynamics - The Shanghai Composite Index showed resilience with minimal declines at the opening, primarily driven by major players like the "three oil giants" (PetroChina, CNOOC, Sinopec) and the banking sector, particularly Industrial and Commercial Bank of China [5] - The Shenzhen market experienced a maximum drop of 1.65% during the day but rebounded in the afternoon, largely due to the performance of four stocks, leading to a final increase of approximately 0.20% in the Shenzhen Component Index [6] Trading Sentiment - The market is currently in a phase of uncertainty regarding whether the recent small gains represent a continuation of a downtrend or a potential bottoming out, with further validation needed in upcoming sessions [6] - Approximately 3,479 stocks rose while about 1,500 fell today, with a median increase of around 0.6%. However, there was a net outflow of approximately 27 billion yuan from major funds, with northbound trading also seeing an outflow of about 25 billion yuan [6] Sector Performance - Strong performing sectors included AI applications (gaming, cultural media), military shipbuilding, photovoltaic, and coal, while underperforming sectors were primarily semiconductors, securities, insurance, and lithium batteries [6] - The current market sentiment and trading intensity are significantly lower compared to previous trends, indicating a lack of clear direction as mainstream funds have retreated [7]

Investment Rating - The report assigns a "Buy" rating for several key companies in the public utility sector, including China Resources Power, Guodian Power, and Inner Mongolia Huadian [28]. Core Insights - The public utility sector is crucial for achieving national "dual carbon" goals, with a strong emphasis on environmental and social issues in the ESG evaluation framework [5][4]. - The ESG evaluation system for public utilities includes four categories of positive indicators and one category of negative indicators, focusing on objective assessment metrics [8][23]. - Recent policies from various government departments emphasize the need for green transformation, pollution prevention, and social welfare in the public utility sector [5][4]. Summary by Sections 1. ESG Policy in Public Utilities - The public utility sector is a major contributor to energy consumption and carbon emissions, making its green transformation essential for national goals [5]. - Key policies include the "14th Five-Year" energy conservation and emission reduction plan, which outlines specific requirements for green transformation and public service stability [5][4]. 2. ESG Evaluation System Construction - The ESG evaluation system consists of four positive categories: General Indicators, Environmental Indicators, Social Indicators, and Governance Indicators, with a total of 18 primary indicators and 35 secondary indicators [8][23]. - The negative category focuses on violations and penalties, with specific metrics for environmental, social, and governance aspects [23]. 3. General Indicators - General indicators assess the authenticity and standardization of ESG reports, including the basis for report preparation, third-party verification, and the publication of ESG-specific reports [10][9]. 4. Environmental Indicators - Environmental indicators are based on energy conservation, low carbon, and circular economy principles, with a total of four primary indicators focusing on emissions management, ecological compliance, resource utilization, and climate strategy [11][12]. 5. Social Indicators - Social indicators highlight the public utility sector's role in community development and social stability, with six primary indicators covering community contributions, employee development, innovation, supply chain responsibility, product safety, and core operational responsibilities [15][16][17]. 6. Governance Indicators - Governance indicators aim to enhance corporate governance and decision-making, with five primary indicators focusing on party leadership, industry reform, compliance risk management, governance structure, and information transparency [19][20][21]. 7. Negative Indicators - The negative indicators focus on compliance issues, with penalties for violations in environmental, social, and governance areas, deducting points for each violation [23][25].

Group 1 - The company announced the resignation of Mr. Gao Ping as executive director and president, effective from October 30, 2025, due to other work arrangements [1] - Mr. Zhao Yonggang has been appointed as the new executive director and president of the company, effective from the same date [1] - Mr. Zhao Yonggang will also take over Mr. Gao Ping's positions in the Risk Management Committee, Strategic and Sustainable Development Committee, and Executive Committee [1]

Core Viewpoint - China Power (02380.HK) announced the appointment of Zhao Yonggang as the executive director and president, effective from October 30, 2025, succeeding Gao Ping who has resigned from these positions [1] Group 1 - Zhao Yonggang will also be appointed as a member of the Risk Management Committee, the Strategy and Sustainable Development Committee, and the Executive Committee following Gao Ping's resignation [1]

中 國 電 力 國 際 發 展 有 限 公 司 China Power International Development Limited （在香港註冊成立的有限責任公司） （股份代號：2380） 趙永剛 非執行董事 胡建東 周杰 黃青華 陳鵬君 獨立非執行董事 李方 邱家賜 許漢忠 董事局已成立五個委員會，董事在各委員會擔任的職位如下。 董事名單及其角色與職能 中國電力國際發展有限公司董事局（「董事局」）成員載列如下。 董事局主席兼執行董事 王子超 執行董事兼總裁 C 主席 M 成員 * 執行委員會成員包括本公司高級管理人員 香港，二零二五年十月三十日 | | 委員會 | 審核 | 薪酬及提名 | 風險管理 | 戰略與 可持續發展 | 執行 | | --- | --- | --- | --- | --- | --- | --- | | 董事 | | 委員會 | 委員會 | 委員會 | 委員會 | 委員會* | | 王子超 | | | | C | C | C | | 趙永剛 | | | | M | M | M | | 胡建東 | | | | | M | | | 周杰 | | | | | M | | | 黃青華 ...

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的內容概不負責，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份內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 中 國 電 力 國 際 發 展 有 限 公 司 China Power International Development Limited （在香港註冊成立的有限責任公司） （股份代號：2380） 董事及董事局委員會成員之變更 董事局欣然宣佈以下變更，自二零二五年十月三十日起生效： 趙永剛先生獲委任為本公司執行董事兼總裁。趙先生獲委任以接替已辭任 上述職務的高平先生。 趙先生亦於高先生辭任後獲委任為本公司風險管理委員會、戰略與可持續 發展委員會及執行委員會的成員。 董事的辭任 中 國 電 力 國 際 發 展 有 限 公 司 （「 本公司 」，連同其附屬公司，統稱為「 本 集 團」）董事局（「董事局」）宣佈，由於其他工作安排，高平先生已辭任本公 司執行董事、總裁，以及本公司風險管理委員會、戰略與可持續發展委員會 和執行委員會的成員職務，自二零二五年十月三十日起生效。 高先生已確認，彼與董事局並無意見分歧， ...

根据该合作谅解备忘录，双方本着"优势互补、需求对接"的原则，充分发挥各自优势，围绕电力系统规划与集成、智能韧性电网、数 字化与AI解决方案等领域开展技术交流及项目合作，促进中国先进输变电、电网数字智能领域技术经验与马来西亚能源发展需求深度融 合，助力马来西亚国家能源转型路线图的实施。 吉隆坡当地时间10月26日，中国电力技术装备有限公司与马来西亚国家能源公司（TNB）签署"马来西亚半岛电网智能化合作项目谅解 备忘录"，旨在通过加强双方合作协助TNB应对能源电力转型领域的迫切需求。TNB总裁兼首席执行官梅加特・哈桑、中电装备公司董事长 余军分别代表双方在谅解备忘录文本上签字。马来西亚副总理兼能源及水务转型部部长法迪拉・尤索夫、TNB首席电网官哈斯马利扎尔・ 哈桑、中电装备公司副总经理张蕾见证签约。 后续，中电装备公司将紧密对接马来西亚能源转型发展需求和谅解备忘录合作事项，加强各类资源调配，开展技术研究和协议内容实 施，务实推进中马电力深度合作。 【责任编辑：王少晨 】 ...