证券简称：上海电力 证券代码：600021 编号：临 2024- 078 上海电力股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 本次投资者说明会以网络互动形式召开，公司将针对 2024 年第三季度经营情况 与投资者进行互动交流和沟通，在信息披露允许的范围内就投资者普遍关注的问题 进行回答。 二、 说明会召开的时间、地点 （一） 会议召开时间：2024 年 11 月 27 日 下午 14:00-15:00 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： 会议召开时间：2024年11月27日(星期三) 下午 14:00-15:00 会议召开方式：上证路演中心网络互动 网络直播地址：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 投资者可于2024年11月20日(星期三) 至11月26日(星期二)16:00前登录上证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 shanghaipower@sp ...

Investment Rating - The investment rating for the company is "Outperform the Market" [5][18]. Core Views - The coal power sector's profitability continues to improve, with a significant increase in net profit for the third quarter of 2024. The company achieved a net profit of 2.459 billion yuan, up 66.57% year-on-year, driven by enhanced efficiency in coal power operations and accelerated green transition initiatives [1][6][15]. - The company is actively developing new coal and renewable energy projects, which are expected to further enhance its performance. Current projects under construction have a total capacity of 6 million kilowatts, and the renewable energy segment is expanding with new installations [2][14]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company reported operating revenue of 32.566 billion yuan, a 3.41% increase, and a net profit of 2.459 billion yuan, reflecting a 66.57% increase. The third quarter alone saw operating revenue of 12.445 billion yuan (+11.13%) and net profit of 1.132 billion yuan (+67.57%) [1][6][15]. - The company's gross margin improved to 25.25%, an increase of 2.07 percentage points, primarily due to lower coal prices reducing fuel costs [11]. Power Generation - In the third quarter of 2024, the company generated 156.16 billion kWh from coal power (+3.95%), 33.03 billion kWh from gas power (+28.48%), 21.92 billion kWh from wind power (+20.52%), and 20.08 billion kWh from solar power (+21.62%) [1][7][14]. Future Outlook - The company has a robust pipeline of coal power projects, including the Caoyang Comprehensive Energy Center Phase II and the Shanghai Waigaoqiao Power Plant expansion, which are expected to enhance profitability upon completion [2][14]. - The renewable energy segment is also set to grow, with an additional 454,100 kW of solar capacity added in the first three quarters of 2024, bringing the total installed renewable capacity to 9.4102 million kW [14]. Valuation - The company is projected to achieve net profits of 2.7 billion yuan, 2.92 billion yuan, and 3.08 billion yuan for 2024, 2025, and 2026, respectively, with corresponding EPS of 0.96, 1.04, and 1.09 yuan. The current stock price corresponds to a PE ratio of 10.0, 9.2, and 8.7 for the respective years [15][16].

证券代码：600021 证券简称：上海电力 公告编号：2024-077 上海电力股份有限公司 2024 年第三次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 969 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,668,043,179 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 59.2188 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次大会由公司董事会召集，由公司董事长林华先生主持。本次会议采用现 (一) 股东大会召开的时间：2024 年 10 月 31 日 (二) 股东大会召开的地点：上海天诚大酒店 8 楼第二会议室（上海市徐家汇 路 585 号） (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 场表决和网络投票相结合的方式。会议召 ...

上海东方华银律师事务所 关于上海电力股份有限公司 2024 年第三次临时股东大会的法律意见书 致：上海电力股份有限公司 上海东方华银律师事务所（以下简称"本所"）接受上海电力股份有限公司 （以下简称"贵司"或"公司"）委托，就贵司召开 2024 年第三次临时股东大 会的有关事宜，根据《中华人民共和国公司法》《上市公司股东大会规则》等法 律、法规和其他规范性文件以及《上海电力股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的本次股东大会的相关资料， 包括但不限于公司召开 2024 年第三次临时股东大会的通知、公司 2024 年第三次 临时股东大会的议程、议案及决议等文件资料，同时听取了公司董事会秘书就有 关事实的陈述和说明。公司已向本所作出保证和承诺，保证公司向本所提供的资 料和文件均为真实、准确、完整，无重大遗漏。 本所律师仅就本法律意见书出具日以前所发生的事实以及本所律师对有关 法律法规的理解发表法律意见。 本法律意见书仅供公司为本次股东大会之目的使用，不得用于其他任何目的。 本所同意本法律意见书作为公司本次股东大会公告材料，随其他资 ...

Financial Performance - The company's operating revenue for Q3 2024 reached ¥12,444,651,231.26, an increase of 11.13% compared to ¥11,200,896,591.68 in the same period last year[1] - Net profit attributable to shareholders was ¥1,131,503,599.91, representing a significant increase of 67.57% from ¥681,485,724.09 year-on-year[1] - The net profit after deducting non-recurring gains and losses was ¥1,040,202,500.25, up 49.53% from ¥701,893,848.31 in the previous year[1] - Basic earnings per share for Q3 2024 were ¥0.3744, a 66.10% increase from ¥0.2262 in the same quarter last year[2] - The diluted earnings per share also stood at ¥0.3744, reflecting the same growth rate of 66.10% year-on-year[2] - The weighted average return on equity increased to 5.4239%, up by 1.94 percentage points from 3.5281% in the previous year[2] - Total operating revenue for the first three quarters of 2024 reached CNY 32,565,921,071.98, an increase of 3.42% compared to CNY 31,491,929,002.59 in the same period of 2023[17] - Net profit attributable to shareholders of the parent company for the first three quarters of 2024 was CNY 2,458,603,444.02, up 66.67% from CNY 1,476,051,377.96 in the previous year[18] - The company reported an operating profit of CNY 5,287,752,702.32, significantly higher than CNY 3,876,808,398.85 in the same period last year, indicating a growth of 36.36%[18] - The total comprehensive income for the first three quarters of 2024 reached CNY 4,345,549,143.77, compared to CNY 3,141,009,490.64 in 2023, indicating an increase of about 38.3%[19] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥7,508,897,251.35, an increase of 82.85% compared to ¥4,111,601,395.12 last year[2] - The cash flow from operating activities totaled ¥3,107,680,013.99, compared to ¥6,451,226,781.66 in the first three quarters of 2023[28] - The cash flow from operating activities for the first three quarters of 2024 was CNY 7,508,897,251.35, significantly higher than CNY 4,106,655,702.52 in the same period of 2023, marking an increase of approximately 83.5%[20] - The net cash flow from financing activities for the first three quarters of 2024 was CNY 1,069,970,205.73, down from CNY 4,617,042,964.23 in the same period of 2023, showing a decrease of approximately 76.8%[21] - The net cash flow from investment activities was ¥-345,554,170.63, an improvement from ¥-472,136,855.78 in the first three quarters of 2023[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥178,838,304,378.82, marking a 6.09% increase from ¥168,572,335,291.72 year-on-year[2] - Total assets increased to CNY 178,838,304,378.82, compared to CNY 168,572,335,291.72 at the end of the previous year, reflecting a growth of 6.73%[16] - Total liabilities rose to CNY 125,248,080,121.31, up from CNY 118,012,279,962.64, marking an increase of 6.43%[16] - The total liabilities to equity ratio improved to 2.34 from 2.33, indicating a stable financial structure[16] - Total liabilities rose to CNY 34,909,556,305.95, an increase of 4.6% from CNY 33,364,963,873.93[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 135,831, with no preferred shareholders having restored voting rights[7] - The largest shareholder, State Power Investment Corporation, holds 1,251,588,074 shares, representing 44.43% of total shares[7] - The top ten shareholders collectively hold a significant portion of the company's shares, with the top two shareholders alone accounting for 57.33%[7] - The company has no preferred shareholders with restored voting rights, indicating a stable ownership structure[7] Research and Development - Research and development expenses for the first three quarters of 2024 were CNY 101,070,831.28, a slight decrease from CNY 109,156,582.96 in the same period of 2023[18] - Research and development expenses for the third quarter were not explicitly stated but management expenses increased to CNY 344,460,880.74 from CNY 278,766,685.05, indicating a focus on operational efficiency[26] Investment Activities - The company reported investment income of CNY 1,907,763,019.94, an increase from CNY 1,693,990,950.52, reflecting improved performance in investment activities[26] - The company’s cash inflow from investment activities was CNY 743,182,119.34, compared to CNY 535,453,907.18 in the previous year, representing an increase of approximately 38.8%[21] Operational Efficiency - The company reported a significant increase in electricity generation and a decrease in coal power costs, contributing to the rise in profit margins[6] - The company’s cash flow management appears stable, with a focus on maintaining liquidity amid operational changes[27]

证券简称：上海电力 证券代码：600021 编号：2024-076 上海电力股份有限公司 董事会 2024 年第五次临时会议决议公告 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、董事会会议召开情况 （一）上海电力股份有限公司董事会 2024 年第五次临时会议的召开符合有 关法律、行政法规、部门规章、规范性文件和公司章程的规定。 （二）本次董事会会议通知和会议材料于 2024 年 10 月 21 日以电子方式发 出。 （三）本次董事会会议于 2024 年 10 月 25 日以通讯会议方式召开。 （四）会议应到董事 11 名，实到董事 11 名，符合《公司法》和《公司章程》 规定。 二、董事会审议及决议情况 （一）同意关于调整公司经理层成员 2024 年度经营业绩考核目标的议案。 该议案 11 票同意，0 票反对，0 票弃权。 同意国家电投集团江苏滨海港航有限公司推进落实政府收储 356.901 亩土 地事项、同意国家电投集团协鑫滨海发电有限公司推进落实政府收储 0.97 亩土 地事项。 （三）同意关于《公司 2024 年 ...

证券简称：上海电力 证券代码：600021 编号：临 2024-075 上海电力股份有限公司 关于董事和监事辞职的公告 本公司董事会、监事会及全体董事、监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。 近日，公司董事会和监事会分别收到董事郭志刚先生、监事张超先生的书面辞 职报告。郭志刚先生因工作原因辞去公司董事职务，张超先生因工作原因辞去公司 监事职务。郭志刚先生、张超先生与公司董事会和监事会无任何意见分歧，且无有 关辞任的任何其他事项须提请公司股东注意。 郭志刚先生、张超先生的辞职，未导致公司董事会和监事会人数低于法定最低 人数，不会影响公司董事会和监事会的依法合规运作和公司日常经营，根据《公司 章程》的有关规定，郭志刚先生、张超先生的辞职报告分别自送达董事会和监事会 时生效。 郭志刚先生、张超先生在任职期间恪尽职守、勤勉尽责，公司董事会和监事会 对郭志刚先生、张超先生在任职期间为公司经营发展和规范运作所做出的贡献表示 衷心感谢！ 特此公告。 上海电力股份有限公司董事会 上海电力股份有限公司监事会 二〇二四年十月二十三日 ...

二〇二四年第三次临时股东大会 会议资料 二○二四年十月 2024 年第三次临时股东大会 会议资料 现场会议开始时间：2024 年10 月31 日（周四） 下午14 时整 网络投票起止时间：自2024 年10 月31 日 至2024 年10 月31 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间 为股东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30 ， 13:00-15:00；通过互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 现场会议地点：上海天诚大酒店 8 楼第二会议室 （上海市徐家汇路 585 号） 1 2024 年第三次临时股东大会 会议资料 资 料 目 录 大会主持人宣布会议开始，宣布计票人、监票人名单。 3 一、审议关于选举董事的议案； 二、股东发言及回答股东提问； 三、投票表决议案； 四、宣布现场投票汇总情况。 2024 年第三次临时股东大会 会议资料 关于选举董事的议案 各位股东： 经公司控股股东国家电力投资集团有限公司推荐，黄晨 先生、田钧先生、唐俊先生、于海涛先生为公司第八届董事 会董事候选人。刘洪亮先生、粟刚先生、杨敬飚先生 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the near term [4]. Core Insights - The company has reported a significant increase in net profit for the first three quarters of 2024, with an expected range of 2.252 to 2.680 billion yuan, representing a year-on-year growth of 53% to 82% [4]. - The company's performance in the third quarter exceeded market expectations, driven by strong electricity generation from thermal and wind power [4][5]. - The company is positioned as a core power platform in the East China region, benefiting from both profitability flexibility and long-term growth potential [5]. Summary by Sections Financial Performance - The company anticipates a net profit of 2.252 to 2.680 billion yuan for the first three quarters of 2024, with a year-on-year growth of 53% to 82% [4]. - In the third quarter alone, the expected net profit ranges from 0.925 to 1.353 billion yuan, showing a year-on-year increase of 36% to 99% [4]. - The total electricity generation for the third quarter reached 23.1 billion kWh, a 9.7% increase year-on-year, with coal, gas, wind, and solar power contributing to this growth [4]. Operational Highlights - The company has not added new installed capacity for coal, gas, or wind power from September last year to this September, yet it still achieved strong growth in electricity generation [4]. - The strong demand for electricity in the Yangtze River Delta region during high temperatures has significantly contributed to the growth in coal power generation [4]. - The company is the only major thermal and green power operator to forecast positive growth in earnings, attributed to its advantageous asset locations and management efforts [5]. Future Outlook - The company has revised its profit forecasts for 2024-2026, now expecting net profits of 2.661 billion, 2.924 billion, and 3.420 billion yuan respectively [5]. - The estimated price-to-earnings (PE) ratios for 2024-2026 are projected to be 11, 10, and 8 times, respectively [5]. - The company aims to enhance its renewable energy capacity and has set a goal to develop a large-scale clean energy base in the western region [5].

证券代码：600021 证券简称：上海电力 编号：临 2024-074 上海电力股份有限公司 关于公司重大资产购买交割进展的公告 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。 2、KE 公司新多年电价机制（MYT）事宜进展 鉴于 2017 年 3 月巴基斯坦国家电力监管局（NEPRA）发布的新 MYT 与预期存在 差距，KE 公司向法院起诉并获得新 MYT 不生效的法令，且直至新 MYT 发布前，原 MYT 将一直适用；同时 KE 公司向 NEPRA 提交了正式的复议材料，并获得了受理。 之后，交易对方和 KE 公司开展了大量工作，与 NEPRA 进行了积极磋商，并获得了巴 基斯坦政府的支持和对 KE 公司电价诉求的理解。巴基斯坦时间 2017 年 10 月 9 日晚， NEPRA 发布了对 KE 公司新 MYT 的复议结果。在新 MYT 复议结果中，KE 公司在复 议材料中提出的部分诉求被 NEPRA 接受并予以调整，但复议结果仍未能达到预期。 根据巴基斯坦相关规定，巴基斯坦联邦政府有权要求 NEPRA 对裁定电价进行重 ...