2024 年年度股东大会 会议资料 2025 年 6 月 20 日 北京 股东大会会议资料 目 录 议案一、关于公司 2024 年年度报告的议案 ························· 1 议案二、关于公司 2024 年度董事会工作报告的议案············· 2 议案三、关于公司 2024 年度独立董事述职报告的议案········ 18 议案四、关于公司 2024 年度监事会工作报告的议案··········· 19 议案五、关于公司董事 2023 年薪酬兑现标准的议案··········· 23 议案六、关于公司董事 2025 年度薪酬方案的议案·············· 26 议案七、关于公司监事 2023 年薪酬兑现标准的议案··········· 27 议案八、关于公司监事 2025 年度薪酬方案的议案·············· 29 议案九、关于公司 2024 年度财务决算报告的议案 ·············· 30 议案十、关于公司 2024 年度利润分配预案的议案·············· 34 议案十一、关于公司 2025 年度财务预算方案的议案········ ...

关于召开2024年年度股东大会的通知 A 股代码：601868 A 股简称：中国能建 编号：2025-030 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 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。 重要内容提示： 一、召开会议的基本情况 （一）股东大会类型和届次： 2024年年度股东大会 （二）股东大会召集人：董事会 （三）投票方式：本次股东大会所采用的表决方式是现场投 票和网络投票相结合的方式 （四）现场会议召开的日期、时间和地点 召开的日期时间：2025 年 6 月 20 日 9 点 00 分 召开地点：北京市朝阳区西大望路甲 26 号院 1 号楼 2702 室 （五）网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 6 月 20 日 至2025 年 6 月 20 日 1 股东大会召开日期：2025年6月20日 本次股东大会采用的网络投票系统：上海证券交易所股 东大会网络投票系统 采用上海证券交易所网络投票系统，通 ...

Core Viewpoint - China Energy Construction (中国能建) has received approval for its first refinancing since its A-share listing, aiming to raise up to 9 billion yuan through a private placement of shares to fund four major projects in the renewable energy sector [1][5]. Group 1: Financing and Projects - The company plans to issue no more than 8.338 billion shares, raising a total of up to 9 billion yuan for projects including the Hami "solar (thermal) storage" integrated green power demonstration project [1][3]. - The fundraising plan has undergone several revisions since its initial announcement in October 2022, with the maximum fundraising amount adjusted from 15 billion yuan to 9 billion yuan [3][4]. - The four projects earmarked for funding include the Hami project, a thermal and photovoltaic integration project in Zhejiang, a compressed air energy storage project in Hubei, and a wind power project in Uzbekistan [3][5]. Group 2: Business Performance - In 2024, the company's new energy and integrated smart energy business achieved a new contract amount of 559.739 billion yuan, accounting for 39.73% of the total new contracts, with a compound annual growth rate of 42.27% over the past three years [7]. - The revenue from the new energy and integrated smart energy business reached 139.762 billion yuan in 2024, representing a year-on-year growth of 13.92% and constituting 32% of the company's total revenue [7]. - For the first quarter of 2025, the company reported a revenue of 100.371 billion yuan, a year-on-year increase of 3.05%, and a net profit of 1.612 billion yuan, up 8.83% [8]. Group 3: Market Position and Growth - China Energy Construction is recognized as a global leader in energy construction, consistently ranking among the top in various international engineering and contracting lists [6][7]. - The company has established over 200 overseas branches in more than 90 countries and regions, demonstrating its extensive global reach [6]. - The company has been proactive in seizing opportunities in the renewable energy market, particularly in wind, solar, and hydrogen sectors [7].

中国能源建设股份有限公司 关于向特定对象发行 A 股股票申请获得 上海证券交易所审核通过的公告 中国能源建设股份有限公司董事会 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。 中国能源建设股份有限公司（以下简称公司）于 2025 年 5 月 13 日收到上海证券交易所出具的《关于中国能源建设股份有 限公司向特定对象发行股票的交易所审核意见》，具体审核意见 如下：公司向特定对象发行股票申请符合发行条件、上市条件和 信息披露要求。上海证券交易所将在收到公司申请文件后提交中 国证券监督管理委员会注册。 公司本次向特定对象发行 A 股股票事项尚需经中国证券监 督管理委员会作出同意注册决定后方可实施，最终能否获得中国 证券监督管理委员会同意注册的决定及其时间尚存在不确定性。 A 股代码：601868 A 股简称：中国能建 编号：临 2025-029 H 股代码：03996 H 股简称：中国能源建设 公司将根据进展情况，严格按照上市公司向特定对象发行 A 股股票相关法律法规的规定和要求及时履行信息披露义务，敬请 投资者注意投资风险。 特 ...

智通财经5月14日电，中国能建(601868.SH)公告称，公司于2025年5月13日收到上海证券交易所出具的 《关于中国能源建设股份有限公司向特定对象发行股票的交易所审核意见》，具体审核意见如下：公司 向特定对象发行股票申请符合发行条件、上市条件和信息披露要求。上海证券交易所将在收到公司申请 文件后提交中国证券监督管理委员会注册。 中国能建：向特定对象发行A股股票申请获上交所审核通过 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [11]. Core Views - The company reported a revenue of 100.37 billion yuan for Q1 2025, representing a year-on-year growth of 3.05%. The net profit attributable to shareholders was 1.61 billion yuan, up 8.83% year-on-year, while the net profit after deducting non-recurring items was 1.39 billion yuan, showing a significant increase of 24.03% [2][8]. Summary by Sections Financial Performance - In Q1 2025, the company achieved a gross margin of 11.18%, an increase of 0.47 percentage points year-on-year. The operating expense ratio was 7.79%, up 0.48 percentage points year-on-year. The net profit margin improved to 1.61%, an increase of 0.09 percentage points year-on-year, primarily due to a recovery in asset impairment losses [14]. Order Growth - The company signed new contracts totaling 388.90 billion yuan in Q1 2025, a year-on-year increase of 5.75%. Notably, the growth rate for new contracts in energy exploration and design significantly outpaced that of construction [14]. Cash Flow and Financial Health - The operating cash flow showed a net outflow of 14.51 billion yuan, which was 1.68 billion yuan less than the previous year. The cash collection ratio improved to 105.97%, up 11.98 percentage points year-on-year [14]. Emerging Business and Future Prospects - The company is enhancing its transformation through emerging businesses, particularly in the hydrogen energy sector, with significant projects underway. The largest hydrogen energy industrial park in Jilin is set to be operational by the end of 2025, alongside other key projects in various regions [14].

上周（4月27日-30日）BHI新收录中企新签约/中标/公告海外项目20个，受假期影响较前一周进一步下 降。其中中国能建4个项目。2025年新收录项目已超540个。近一年每周新收录项目数量趋势统计详见下 图。 中水电中标菲律宾流域防洪项目 当地时间4月14日，中国能建湖南院与联合体方中标赞比亚卡富埃西至姆祖玛330千伏输变电线路项目。 这是继2024年中标赞比亚潘苏鲁至曼萨330千伏输变电项目后，湖南院在赞比亚市场的又一重要突破。 该项目是曼巴发电站二期工程的配套送出项目，也是赞比亚国家电网南部主网架优化工程的关键组成部 分。项目线路全长约189公里，主要施工内容包括新建330千伏双回输电线路，以及对Kafue West和 Muzuma两座变电站进行扩建，内容涉及线路间隔扩建、电抗器安装及相关二次系统升级改造等工程。 项目建成后，将进一步优化赞比亚国家电网结构，提升电力输送效率，保障区域电力稳定供应，将显著 提升赞比亚南部电源向北部负荷中心的输电能力，有效缓解南部非洲地区电力供应紧张的局面，促进当 地经济发展。 中国交建 附项目详情（部分）： 中国能建 中国能建湖南院中标赞比亚卡富埃西至姆祖玛330千伏输变电 ...

Investment Rating - The report maintains a "Buy" rating for China Energy Construction (3996.HK) [1] Core Views - The company has demonstrated stable operations with rapid growth in its new energy business, achieving a revenue of 436.71 billion CNY and a net profit of 8.4 billion CNY in 2024, reflecting a year-on-year increase of 7.6% and 5.1% respectively [4][5] - The new energy and integrated smart energy sectors have shown significant revenue growth, contributing to the overall revenue increase and optimization of the business structure [5] - The company has improved its cash flow management, with a net operating cash inflow of 11.03 billion CNY in 2024, an increase of 15.4 billion CNY compared to the previous year [8] Financial Performance Summary - In 2024, the company achieved operating revenue of 436.71 billion CNY, a year-on-year increase of 7.6%, and a net profit of 8.4 billion CNY, up 5.1% [4] - For Q1 2025, the company reported operating revenue of 100.37 billion CNY, a 3.0% increase year-on-year, and a net profit of 1.61 billion CNY, which is an 8.8% increase [4] - The gross margin for 2024 was 12.4%, slightly down from the previous year, while the net margin was 2.7% [6] Business Segments and Regional Performance - The new energy and integrated smart energy sectors generated revenue of 139.76 billion CNY in 2024, a 13.9% increase year-on-year [5] - The company’s engineering construction, investment operation, industrial manufacturing, and surveying design and consulting segments reported revenues of 366.82 billion CNY, 36.13 billion CNY, 32.22 billion CNY, and 20.83 billion CNY respectively in 2024 [5] - Domestic and overseas revenues for 2024 were 380.57 billion CNY and 56.14 billion CNY, reflecting increases of 8.8% and 0.03% respectively [5] Contract and Order Growth - The company signed new contracts worth 1,408.88 billion CNY in 2024, a 9.8% increase year-on-year, with significant contributions from engineering construction and surveying design [7] - In Q1 2025, new contracts amounted to 388.9 billion CNY, a 5.8% increase year-on-year, with notable growth in the new energy sector [7] Profitability and Valuation - The report projects a decrease in net profit forecasts for 2025 and 2026 to 9.1 billion CNY and 9.6 billion CNY respectively, reflecting adjustments due to market conditions [8] - The estimated P/E ratio for 2025 is 4.2, indicating a favorable valuation compared to historical performance [9]

Core Viewpoint - The construction of the Chongzuo power plant, a significant energy project in Guangxi, has successfully overcome various challenges, including extreme weather and complex geological conditions, to enhance energy infrastructure in the border region with Vietnam [2][4][6]. Group 1: Project Overview - The Chongzuo power plant consists of two 660 MW ultra-supercritical coal-fired units, marking it as a key energy source in the region [1][4]. - The first unit of the power plant completed a 168-hour trial run and officially commenced commercial operations on April 24 [2]. Group 2: Construction Challenges and Innovations - The project faced adverse conditions such as high temperatures, heavy rainfall, and tight deadlines, prompting the construction team to innovate and adapt [4][6]. - Innovations included changing the backfill material from soil-stone mix to graded sand-stone, designing specialized lifting tools for boiler components, and developing a collision avoidance system for cranes [4][5]. - The project team implemented factory processing for water pipes and steel structures, reducing costs by over 70,000 yuan and shortening production time [5]. Group 3: Quality Management and Aesthetics - A robust quality management system was established, including acceptance protocols and training, which led to the project being recognized as a "model project" multiple times [5]. - Attention to detail in construction, such as the arrangement of instrument pipes and the use of stainless steel for corrosion protection, reflects a commitment to both functionality and aesthetic quality [5]. Group 4: Response to Extreme Weather - The project team demonstrated resilience during extreme weather events, including a significant flood that raised water levels by 14 meters, by implementing emergency measures to protect critical infrastructure [6]. - Continuous 24-hour operations and strategic planning allowed the team to recover lost time and meet project milestones ahead of schedule [6].

Core Viewpoint - The company reported steady growth in Q1 2025, with revenue reaching 100.37 billion yuan, a year-on-year increase of 3.05%, and a net profit attributable to shareholders of 1.612 billion yuan, up 8.83% year-on-year, indicating strong operational performance despite market challenges [1] Group 1: Financial Performance - In Q1 2025, the company achieved a gross profit margin of 11.18%, an increase of 0.47 percentage points year-on-year [2] - The net profit margin stood at 2.60%, reflecting a year-on-year increase of 0.19 percentage points [2] - The company reported a net cash flow from operating activities of -14.51 billion yuan, which was a decrease in outflow of 1.68 billion yuan compared to the same period last year [2] Group 2: Contract and Business Growth - The company secured new contracts worth 388.9 billion yuan in Q1 2025, representing a year-on-year growth of 5.8% [1] - The core engineering construction segment saw new contracts amounting to 364.05 billion yuan, a year-on-year increase of 15.5% [1] - New energy business contracts grew significantly, with traditional energy, new energy, integrated smart energy, urban construction, and comprehensive transportation contracts increasing by 6.1%, 20%, 57.8%, and 96.7% respectively [1] Group 3: Regional Performance - Domestic new contract value reached 287.46 billion yuan, a year-on-year increase of 4.2%, while overseas new contracts totaled 101.44 billion yuan, up 10.5% year-on-year [2] - The overseas new energy and integrated smart energy projects saw a remarkable year-on-year growth of 53.7% [2] Group 4: Future Outlook - The company maintains its profit forecast for 2025-2027, estimating net profits attributable to shareholders at 8.79 billion, 9.41 billion, and 10.17 billion yuan respectively [1] - The company continues to enhance its emerging business segments, with significant advancements in technology innovation and new business layouts in hydrogen energy and AI [1]