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） 關連交易 風力發電項目相關的該等總承包合同 二零二五年十二月五日，天門清潔能源（本公司一家非全資擁有的間接附屬公 司）與山東院分別訂立了工程總承包合同 I 及工程總承包合同 I I。根據該等總 承包合同 ， 山東院將 以總代價人民幣 939, 2 02, 000 元（約相等於 1,032,090,000 港元） 為岳 口 佛子山 項 目 及干 驛 皂 市 項 目 提 供 項 目 勘 察 、設 計、設備採購、建築安裝，以及其他技術支援服務。 於本公告日期，國家電投擁有本公司已發行股本約 6 5 . 4 1%。由於國家電投為 本公司的最終控股股東，根據上市規則定義，國家電投、其附屬公司及聯繫 人均為本公司的關連人 ...

Group 1 - The core point of the article is the establishment of Guodian Power (Rizhao) Offshore Wind Power Co., Ltd., which is fully owned by China Power (02380.HK) through its subsidiary, Shandong Energy Development Co., Ltd. [1] - The new company has a registered capital of 2 billion RMB and its business scope includes wind power generation technology services, offshore wind power system research and development, photovoltaic equipment leasing, solar power technology services, and sales of electric vehicle battery swap facilities [1] - The legal representative of the newly established company is Luo Chaofa [1]

人民财讯12月5日电，企查查APP显示，12月4日，国电投(日照)海上风电有限公司成立，法定代表人为 罗朝发，注册资本20亿元，经营范围涉及风力发电技术服务、海上风电相关系统研发、光伏发电设备租 赁、太阳能发电技术服务、新能源汽车换电设施销售等。企查查股权穿透显示，该公司由中国电力间接 全资持股。 ...

Group 1 - The establishment of Guodian Power (Rizhao) Offshore Wind Power Co., Ltd. has been announced, with a registered capital of 2 billion RMB [1] - The legal representative of the new company is Luo Chaofa, and its business scope includes wind power generation technology services, offshore wind power system R&D, photovoltaic equipment leasing, solar power technology services, and sales of electric vehicle battery swap facilities [1] - The company is wholly owned by Shandong Energy Development Co., Ltd., a subsidiary of China Power (02380.HK) [1]

第 1 頁 共 10 頁 v 1.1.1 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11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國電力國際發展有限公司 呈交日期: 2025年12月3日 I. 法定/註冊股本變動 不適用 FF301 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 02380 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 12,370,150,983 | | 0 | | 12,370,150,983 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 12,370,150,983 | | 0 | | 12,3 ...

Core Viewpoint - The electric power line equipment industry is undergoing significant changes, with a focus on product differentiation and innovation to maintain competitiveness in the market [5][6]. Group 1: Industry Lifecycle and Market Analysis - The electric power line equipment industry is currently in a specific lifecycle stage, which influences its growth and development strategies [4][6]. - The international market for electric power line equipment is experiencing growth, with projections for 2023-2025 indicating a positive trend [3][4]. - China's electric power line equipment market is also developing, with an emphasis on addressing existing challenges and leveraging growth opportunities [3][4]. Group 2: Technological Changes and Product Innovation - Technological advancements are expected to reshape the competitive landscape of the industry, making product innovation a critical component of competitiveness [4][6]. - There is significant potential for product personalization within the electric power line equipment sector, which can serve as a strategic advantage [5][6]. Group 3: Sales and Marketing Strategies - The domestic marketing models for electric power line equipment are evolving, with a focus on optimizing distribution channels and sales strategies [4][6]. - The analysis of sales channels indicates that effective channel management is crucial for industry success [6]. Group 4: User Analysis and Pricing Trends - Users of electric power line equipment have diverse needs, with a strong emphasis on product quality and functionality [6]. - The pricing dynamics of electric power line equipment are influenced by various factors, including economic conditions and market demand [6][9]. Group 5: Future Development and Investment Trends - Projections for the electric power line equipment industry from 2026 to 2032 suggest a continued focus on technological development and market expansion [8][9]. - Investment strategies will need to adapt to the evolving market landscape, with an emphasis on innovation and competitive positioning [8][9].

Core Insights - Central enterprises (央企) are integrating ESG (Environmental, Social, and Governance) principles into their strategies and operations, transitioning from being merely economic pillars to becoming resilient and responsible entities [1] - The 2025 Golden Bull Enterprise Sustainable Development Forum highlighted the importance of ESG in enhancing core competitiveness and driving green transformation in industries [1] ESG Implementation - Central enterprises are elevating ESG from a compliance task to a strategic priority, embedding it into business layouts, investment decisions, and daily management [1] - China Power has incorporated ESG due diligence into its investment decision-making process, alongside legal and financial due diligence, and is exploring AI applications in ESG management [2] - The integration of ESG in sectors like aerospace and defense emphasizes national security, technological innovation, and public health, with companies undertaking significant national projects [2] Supply Chain and Green Transformation - ESG standards are extending to upstream and downstream operations, showcasing the pivotal role of central enterprises in building a green ecosystem [3] - Southern Power Grid has developed a green supplier evaluation system that influences an annual procurement scale of nearly 300 billion, guiding over 280,000 suppliers towards low-carbon practices [3] Value Creation through ESG - The deepening of ESG practices is focused on translating them into tangible corporate value, with ESG becoming essential for managing risks and gaining market recognition [3] - ESG is viewed as a driver of value creation through risk avoidance, operational efficiency, business growth, and optimized financing [4] - In competitive sectors, central enterprises are combining market-oriented approaches with efficiency to realize ESG value, as seen in the case of lithium battery materials [4]

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the **China Power** industry, highlighting significant trends in power consumption and generation in the country [1][2]. Key Insights on Power Consumption - **National power consumption** increased by **5.1% YoY** in the first ten months of 2025, up from **4.6%** in the previous months [3][9]. - In **October 2025**, power demand surged by **10.4% YoY**, with notable increases in various sectors: - **Primary sector**: +13.2% YoY - **Secondary sector**: +6.2% YoY - **Tertiary sector**: +17.1% YoY - **Residential demand**: +23.9% YoY [3][9]. Sector-Specific Growth Drivers - The **tertiary sector** growth was primarily driven by: - **Retail services**: +24.4% YoY - **IT services**: +21.0% YoY - The **accommodation and catering** sector also saw an increase of **18.4% YoY**, attributed to the strong National Day holiday [4][9]. - **Residential power consumption** growth was influenced by temperature variations, with regions like Jiangxi, Zhejiang, and Shanghai experiencing significant increases of **66%**, **63%**, and **47%** YoY, respectively [4]. Power Generation Insights - Total power generation in **10M25** rose by **2.3% YoY** to **8,063 billion kWh**. - Renewable energy sources showed strong growth: - **Solar power generation**: +23.2% YoY - **Wind power generation**: +7.6% YoY - The share of wind and solar in the energy mix increased to **16%**, up from **14%** in the same period last year [5][9]. Capacity Expansion - China added **398 GW** of power capacity in **10M25**, marking a **42.4% YoY** increase, including: - **253 GW** from solar (up **39.5% YoY**) - **70 GW** from wind (up **52.9% YoY**) - **65 GW** from thermal sources (up **54.3% YoY**) [5][9]. Investment Trends - Investments in power generation capacity reached **Rmb722 billion**, a **0.7% YoY** increase, while investments in the power grid rose to **Rmb482 billion**, up **7.2% YoY** [9]. Analyst Ratings and Industry Outlook - The overall view of the **China Utilities** sector is considered **attractive**, with several companies rated positively, including: - **China Resources Power**: Overweight - **China Longyuan Power Group**: Overweight - **Huaneng Power International Inc.**: Equal-weight [7][59]. Additional Considerations - The report emphasizes the potential for continued growth in the renewable energy sector, driven by government policies and increasing demand for cleaner energy sources [7][9]. - Analysts caution that while the growth is promising, investors should remain aware of potential risks associated with market fluctuations and regulatory changes [7][9].

本文源自：金融界AI电报 中国电力(02380.HK)发布公告，本公司及其附属公司(统称本集团)于2025年10月的合并总售电量为 923.51万兆瓦时，而2025年首10个月的合并总售电量为1.06亿兆瓦时。 ...

格隆汇11月26日丨中国电力(02380.HK)宣布，集团于2025年10月的合并总售电量为9,235,140兆瓦时，较 去年同月减少5.29%，而2025年首十个月的合并总售电量为105,502,111兆瓦时，较去年同期减少 2.51%。 ...