Group 1 - The signing ceremony of the China Energy Construction trading delegation at the 8th China International Import Expo (CIIE) took place on November 6, with a total signing amount of $1.828 billion [1] - Over the past eight years, China Energy Construction has leveraged the CIIE platform to enhance cooperation with global partners, resulting in a cumulative signing demand of $11.959 billion [1] - Agreements were signed with companies such as Hitachi Energy from Japan, Daewoo Group from South Korea, and Port of Singapore Authority, including equipment procurement agreements for wind turbines and photovoltaic components [1] Group 2 - The General Manager of China Energy Construction emphasized the company's commitment to open development and international capacity cooperation, avoiding internal competition and focusing on core responsibilities [2] - During the 14th Five-Year Plan's first four years, the average annual growth rates for new international contracts, operating income, and total profit of China Energy Construction were 15.8%, 15%, and 12% respectively [2] - In the past five years, the company has signed contracts exceeding 600 billion yuan in countries involved in the Belt and Road Initiative, maintaining a leading position among Chinese enterprises expanding internationally [2]

Core Viewpoint - China Energy Construction Corporation (China Energy) is actively developing the world's largest green hydrogen and ammonia integrated project, with significant government support and a robust investment strategy [1][2]. Trading Information Summary - On November 7, 2025, China Energy's stock closed at 2.46 yuan, with a turnover rate of 0.89% and a trading volume of 2.9019 million shares, amounting to a total transaction value of 713 million yuan [1]. - The net outflow of main funds was 85.2008 million yuan, accounting for 11.94% of the total transaction value, while retail investors saw a net inflow of 69.5087 million yuan, representing 9.74% of the total transaction value [2]. Company Announcement Summary - The Songyuan Hydrogen Energy Project, with a total investment of 29.6 billion yuan, is designed to produce 800,000 tons of green synthetic ammonia and green methanol annually, supported by multiple policies from the National Development and Reform Commission and the National Energy Administration [1][2]. - The project will utilize advanced technologies such as "green electricity direct supply" and "load-following source movement" to efficiently match renewable energy with chemical loads, with an internal rate of return of no less than 7.02% and an investment payback period of approximately 14 years [1].

Core Viewpoint - China Energy Engineering Group has participated in the China International Import Expo (CIIE) for eight consecutive years, with cumulative contracts exceeding $10 billion, showcasing its commitment to international cooperation and innovation in the energy sector [2][6]. Group 1: Technological Innovation - The CIIE introduced a procurement corridor for major enterprises, where China Energy showcased its innovative products, including "Energy Storage No. 1" and "Green Hydrogen No. 1" [3]. - "Energy Storage No. 1" represents a compressed air energy storage solution, with the world's first 300 MW demonstration project achieving three world records in power, storage scale, and system efficiency, with 100% domestic equipment [3]. - "Green Hydrogen No. 1" focuses on hydrogen energy, offering integrated green hydrogen solutions and has over 50 related projects, with a demonstration project in Jilin set to commence production soon [3]. Group 2: Research and Development Investment - China Energy has increased its R&D investment significantly, with an average annual growth of 16% during the 14th Five-Year Plan period, planning to invest 14.56 billion yuan in 2024, achieving an R&D intensity of 3.35% [4]. Group 3: Global Expansion and Achievements - The company has established over 260 overseas branches in more than 90 countries, with annual growth rates of 15.8% in new contracts, 15% in revenue, and 12% in total profit during the first four years of the 14th Five-Year Plan [6]. - At the CIIE, China Energy signed equipment procurement agreements worth $1.828 billion with companies like Hitachi Energy and Siemens Energy, which will be used in major projects in Saudi Arabia [6]. Group 4: Belt and Road Initiative - China Energy has actively participated in the Belt and Road Initiative, signing contracts worth over 600 billion yuan in the past five years, leveraging the CIIE as a platform for international cooperation [7]. Group 5: Green Development Initiatives - The company is focusing on global energy transition by implementing green energy projects in various countries, including a 2.6 GW solar power project in Saudi Arabia that integrates vegetation restoration [8]. - China Energy has undertaken nearly 20 GW of new energy projects in Belt and Road countries, emphasizing sustainable development through ecological and economic considerations [8].

Group 1 - A new company named China Energy Construction Bochuang Green Fuel (Shenyang) Co., Ltd. has been established, with Li Bo as the legal representative [1] - The company's business scope includes power generation, transmission, distribution, energy storage technology services, hydrogen refueling and storage facility sales, and battery sales [1] - The company is indirectly wholly owned by China Energy Construction [3]

Core Insights - China Energy Construction Co., Ltd. (China Energy) experienced a stock price increase of 1.23% on November 6, with a trading volume of 1.142 billion yuan. The net financing buy was negative at 68.87 million yuan, indicating more selling than buying in the financing market [1] - The company reported a revenue of 323.544 billion yuan for the first nine months of 2025, reflecting a year-on-year growth of 9.62%, while the net profit attributable to shareholders decreased by 12.43% to 3.156 billion yuan [2] - China Energy has distributed a total of 4.686 billion yuan in dividends since its A-share listing, with 3.748 billion yuan distributed in the last three years [3] Financing and Trading Activity - On November 6, China Energy had a financing buy of 221 million yuan, with a total financing balance of 14.22 billion yuan, accounting for 1.78% of its market capitalization. This financing balance is above the 80th percentile of the past year, indicating a high level of activity [1] - In terms of securities lending, the company repaid 10,500 shares and sold 352,400 shares on November 6, with a total selling amount of 866,900 yuan. The remaining securities lending balance was 2.7569 million shares, with a balance of 6.782 million yuan, also above the 70th percentile of the past year [1] Shareholder Structure - As of September 30, 2025, the number of shareholders for China Energy reached 473,000, an increase of 41.21% from the previous period. The average circulating shares per person remained at zero [2] - The top ten circulating shareholders include China Securities Finance Corporation, holding 613 million shares, and Hong Kong Central Clearing Limited, holding 488 million shares, which saw a significant decrease of 368 million shares compared to the previous period [3]

Core Viewpoint - China Energy Construction Corporation is actively engaging with institutional investors regarding its major project, the Songyuan Hydrogen Energy Industrial Park, which is positioned as the world's largest integrated green hydrogen and ammonia project [2][3]. Group 1: Project Overview - The Songyuan Hydrogen Energy Industrial Park project has a total investment of 29.6 billion yuan and aims to construct 3 million kilowatts of renewable energy generation capacity, with an annual production capacity of 800,000 tons of green synthetic ammonia and green methanol [3]. - The first phase of the project commenced construction in September 2023, with plans to be operational by the end of 2025 [3]. Group 2: Policy Support - The project has been selected as a pilot for several national initiatives, including the first batch of green low-carbon advanced technology demonstrations by the National Development and Reform Commission and the first batch of green liquid fuel technology research and industrialization pilots by the National Energy Administration [4]. Group 3: Technological Innovations - The project employs innovative technologies, including the domestically first "green electricity direct supply chemical" technology and the "load-following" operational model, addressing the challenges of renewable energy fluctuations and chemical stability requirements [5]. - It has achieved four "world's best" and four "international leading" technological milestones, including being the largest integrated green hydrogen and ammonia project globally and the most flexible synthetic ammonia process [5]. Group 4: Financial Viability - The first phase of the Songyuan Hydrogen Energy project has a total investment of 6.9 billion yuan, with an internal rate of return on equity of no less than 7.02% and an overall investment payback period of approximately 14 years [7]. Group 5: Cost Control Advantages - The project benefits from three main cost control advantages: abundant wind and solar resources in the Songyuan area, favorable geographical conditions, and advanced technology that enhances energy efficiency, bringing green ammonia costs close to blue ammonia levels [8]. Group 6: Market Strategy - The company employs a "certification first, long-term contract locking" strategy to ensure market absorption of products, having obtained clean hydrogen certifications from several national governments and being shortlisted by multiple power generation companies [9]. Group 7: Future Project Pipeline - The company has a robust project pipeline, including the operational Lanzhou New Area Hydrogen Energy Industrial Park, the under-construction Shijiazhuang Luquan Hydrogen Energy project, and several other key projects in various stages of development [9]. Group 8: Strategic Vision - The company has established a comprehensive strategy for the hydrogen energy industry, focusing on the entire value chain from production to storage, transportation, and application, aiming to become a leading provider of integrated solutions in the green hydrogen sector [10]. Group 9: Innovation Achievements - The company has made significant innovations in the hydrogen energy field, applying for 65 core patents and establishing a leading domestic water electrolysis hydrogen production technology [11]. Group 10: Development Goals - During the 14th Five-Year Plan period, the company aims to transition from a traditional energy engineering firm to an integrated energy solution provider, focusing on new energy systems and hydrogen energy applications [13].

Core Insights - The signing ceremony for the China Energy Construction trading delegation at the 8th China International Import Expo took place on November 6, achieving a record signing amount of 1.828 billion USD [1] Group 1 - The signing amount of 1.828 billion USD marks a historical high for the event [1]

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，概不對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的任何損失承擔任何責任。 CHINA ENERGY ENGINEERING CORPORATION LIMITED* （在中華人民共和國註冊成立的股份有限公司） （股份代號：3996） 海外監管公告 本公告乃由中國能源建設股份有限公司（「本公司」）根據香港聯合交易所有限公司證券上 市規則第13.10B條作出。 茲載列本公司於上海證券交易所網站刊發的《中國能源建設股份有限公司關於接待機構投 資者調研活動的公告》，僅供參閱。 承董事會命 中國能源建設股份有限公司 副董事長 * 僅供識別 A 股代码：601868 A 股简称：中国能建 公告编号：临 2025-057 H 股代码：03996 H 股简称：中国能源建设 中国能源建设股份有限公司 关于接待机构投资者调研活动的公告 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。 一、机构调研情况 1.调研时 ...

Core Insights - The China Energy Construction Hami molten salt tower-type 50MW solar thermal power generation demonstration project has achieved a record of continuous operation for 411.5 hours, setting a new benchmark for the domestic solar thermal power industry [1][3]. Group 1: Project Achievements - The record-breaking continuous operation began on October 19, 2025, following the completion of A-level maintenance and the project's first grid-connected power generation [3]. - The project overcame various challenges such as cloudy weather, strong winds, and haze, demonstrating high efficiency and stability during operation [3]. - This achievement validates the potential of solar thermal power plants as a foundational support source for new energy power systems and highlights the core advantage of molten salt tower-type solar thermal power in providing stable heat supply [3]. Group 2: Technological and Operational Aspects - The project utilizes tower-type molten salt power generation technology and features the world's first pentagonal giant lizard-type heliostat, along with a high-capacity, high-parameter, and high-efficiency integrated thermal storage and heat exchange system, enabling 24-hour continuous power generation [5]. - As the first domestic tower-type solar thermal power plant with control logic configuration completed by a design institute, its successful construction and operation have unlocked core control technologies, facilitating the development of smart solar thermal power plants with reduced staffing requirements [5].

A 股代码：601868 A 股简称：中国能建 公告编号：临 2025-057 H 股代码：03996 H 股简称：中国能源建设 中国能源建设股份有限公司 关于接待机构投资者调研活动的公告 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。 一、机构调研情况 1.调研时间：2025年11月6日 2.调研地点：中能建松原氢能产业园 3.调研机构（排名不分先后）：诚通基金、东方财富、格 林基金、中金公司、光大证券、广发证券、国联证券、国盛证 券、国元国际、民生证券、宁银理财、鹏扬基金、天风证券、 西部证券、云南信托、招商证券、浙商证券、中信建投、中信 证券、中邮创业、长江证券、华源证券、中哲物产等 4.调研主题：中国能建松原氢能产业园项目反向路演 5.公司接待人员：公司董事会秘书、总部相关职能部门负 责人、中能建氢能源有限公司负责人、电力规划总院有限公司 相关部门负责人 二、交流主要问题及回复概要 1. 请介绍松原氢能产业园项目的总体情况。 中能建松原氢能产业园（绿色氢氨醇一体化）项目（以下 简称松原氢能项目）是目前全球最大的绿色氢 ...