Core Points - Huaneng Lancang River Hydropower Co., Ltd. has been awarded the bid for the first batch of centralized photovoltaic power generation project investment主体优选 in Mengla County for 2025 [1][2][3] Group 1: Bid Information - The bid number for the project is 云盛招字 F2025-023 [2] - Huaneng Lancang River Hydropower Co., Ltd. is the selected bidder for all three segments of the project [2][3][4] - The project includes the following segments: - Segment 1: Laojie Photovoltaic Power Generation Project - Segment 2: Tengmieshan Photovoltaic Power Generation Project (Phase III) - Segment 3: Xingshan Photovoltaic Power Generation Project [2][3][4] Group 2: Project Development Commitments - The company commits to complete project filing within one month after signing the investment development cooperation agreement [3][4] - The company must start construction within two months after project filing, with a maximum of two months of pre-construction procedure time excluded [3][4] - The company aims to achieve production conditions within eight months after construction begins and full capacity grid connection within one year from the start of construction [3][4] Group 3: Quality Assurance - Huaneng Lancang River Hydropower Co., Ltd. guarantees timely funding for the project and aims for smooth and steady progress towards on-time production [3][4] - The company commits to meeting the current acceptance standards for renewable energy projects [3][4]

公司将根据进展情况，严格按照上市公司向特定对象发行股票相关法律法规 的要求及时履行信息披露义务，敬请投资者注意投资风险。 特此公告。 华能澜沧江水电股份有限公司 关于向特定对象发行股票申请 华能澜沧江水电股份有限公司董事会 获得上海证券交易所审核通过的公告 2025 年 6 月 25 日 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。 华能澜沧江水电股份有限公司（以下简称公司）于2025年6月23日收到上海 证券交易所出具的《关于华能澜沧江水电股份有限公司向特定对象发行股票的交 易所审核意见》，认为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。 公司本次向特定对象发行股票事项尚需经中国证券监督管理委员会（以下简 称"中国证监会"）作出同意注册的决定后方可实施，最终能否获得中国证监会 同意注册的决定及时间尚存在不确定性。 证券代码：600025 证券简称：华能水电 公告编号：2025-045 ...

Core Viewpoint - Huaneng Hydropower's non-public stock issuance has been approved, aiming to raise up to RMB 58.25 billion for specific hydropower projects [1][2]. Group 1: Stock Issuance Details - The total amount to be raised from the stock issuance is capped at RMB 58.25 billion, which will be allocated to RM Hydropower Station and TB Hydropower Station projects [2][3]. - The RM Hydropower Station project has a total investment of approximately RMB 584 million, with RMB 43.25 million planned for this stock issuance. The TB Hydropower Station project has a total investment of about RMB 200 million, with RMB 15 million allocated from the issuance [3]. Group 2: Issuance Structure and Participants - The issuance will target no more than 35 specific investors, including various financial institutions and qualified investors, with the possibility of related party participation [4]. - The issuance will be conducted through a competitive bidding process, with the price set at no less than 80% of the average trading price over the previous 20 trading days [4][5]. - The number of shares issued will not exceed 10% of the total share capital prior to the issuance, amounting to a maximum of 1.8 billion shares [5]. Group 3: Control and Governance - The stock issuance will not change the control of the company, as China Huaneng will remain the controlling shareholder with a 50.40% stake post-issuance [5]. - The lead underwriter for this issuance is CITIC Securities, with designated representatives overseeing the process [5].

Key Developments - Xinyang Securities announces the resignation of Chairman Yang Huahui due to age, with Su Junliang elected as the new chairman [2] - Bank of China Securities Chairman Ning Min resigns due to job transfer, with Zhou Quan nominated as the new chairman [3] IPO Developments - Zhejiang Xinxing Tools Co., Ltd. receives approval for its IPO on the ChiNext board, with projected revenues of 391.28 million yuan in 2022 and 425 million yuan in 2023 [5] - Hangzhou Gaote Electronics Co., Ltd. also receives approval for its IPO, expecting revenues of 344.42 million yuan in 2022 and 778.38 million yuan in 2023 [6] Financing Developments - Huaneng Lancang River Hydropower Co., Ltd. receives approval for a private placement to raise up to 58.25 billion yuan for hydropower projects [8] - Dongfang Tantalum Industry plans to raise up to 1.2 billion yuan for various projects and working capital [9] - Beijete plans to raise up to 1 billion yuan for water supply and wastewater treatment projects [10] M&A Developments - Chip Alliance Integrated Circuit Manufacturing Co., Ltd. receives approval for a share issuance to acquire 72.33% of the equity in a semiconductor manufacturing company [12] - Tianyima plans to acquire 100% of Xingyun Kaiwu, a provider of smart self-service equipment [13] - Hailianxun is in the process of a stock swap merger with Hangzhou Steam Turbine Group [15] - Huasheng Co., Ltd. plans to acquire 100% of Yixin Technology [16] Regulatory Compliance - Jiangsu Yunyong Electronic Technology Co., Ltd. receives a public reprimand for inaccurate profit forecasts [18] - Qinghai Spring Pharmaceutical Resources Technology Co., Ltd. is publicly reprimanded for inaccurate earnings forecasts [19] - Jiangxi Mubang High-tech Co., Ltd. is publicly reprimanded for significant discrepancies in profit forecasts [20] - Ruida Futures receives a regulatory letter for inadequate audit procedures [21] Company Announcements - Goer Group's subsidiary Goer Optics is increasing its registered capital to meet financing needs [25] - Yachuang Electronics plans to acquire a 37.0337% stake in Shanghai Analog Semiconductor Technology Co., Ltd. for 298 million yuan [26] - Feima International is in the planning stage for a change of control [27] - Cambrian Technology adjusts its share repurchase price limit to 818.87 yuan per share [28] - Chip Source Microelectronics appoints Zong Runfu as Honorary Chairman and Chief Consultant [30] - Changan Automobile's controlling shareholder changes its name to Chen Zhi Automotive Technology Group Co., Ltd. [31] - WuXi AppTec completes a 1 billion yuan share repurchase and plans to cancel the repurchased shares [32]

证券代码：600025 证券简称：华能水电 公告编号：2025-043 华能澜沧江水电股份有限公司 2025 年度第四期科技创新债券 和第五期绿色科技创新债券发行公告 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、发行基本情况 华能澜沧江水电股份有限公司（以下简称公司）已于近日完成了 2025 年度 第四期科技创新债券和第五期绿色科技创新债券的发行，发行额分别为人民币 10 亿元、7 亿元，发行利率分别为 1.63%、1.70%，期限分别为 184 天、3 年，单 位面值均为 100 元人民币。本次发行完成后，公司短期融资券（含超短期融资券） 余额为人民币 42 亿元，中期票据（含永续中票）余额为人民币 190 亿元。 2025 年度第四期科技创新债券由中国银行股份有限公司作为独家主承销商， 第五期绿色科技创新债券由中国建设银行股份有限公司作为牵头主承销商、长城 证券股份有限公司作为联席主承销商，通过簿记建档、集中配售的方式在全国银 行间债券市场公开发行，债券募集资金将用于偿还带息负债。债券发行的有关文 件已在中国货币网 ...

证券代码：600025 证券简称：华能水电 公告编号：2025-044 华能澜沧江水电股份有限公司 关于公司董事、高级管理人员离任的公告 (一) 提前离任的基本情况 (二) 离任对公司的影响 根据《中华人民共和国公司法》《公司章程》的有关规定，李健平先生的辞 职不会导致公司董事会成员低于法定人数，李健平先生的辞职报告自送达董事会 之日起生效，其辞职不会影响公司正常生产经营，公司将按照法定程序尽快完成 董事补选工作。截至本公告披露日，李健平先生未持有公司股份，不存在未履行 完毕的公开承诺，确认与公司董事会无意见分歧，且没有与其辞职有关的其他事 宜需通知公司及股东。 李健平先生是公司"二次创业"的践行者、改革创新的攻坚者、高质量发展 的推动者。李健平先生在担任公司董事、总经理期间，始终以高度的责任感和使 命感，团结带领经营班子，主动挑最重的担子、啃最硬的骨头，以一抓到底的韧 劲和一丝不苟的态度，高标准、高质量推动经营改革发展各项工作，为公司清洁 能源事业发展作出了重要贡献，公司董事会对李健平先生的辛勤付出和坚守奉献 表示衷心感谢。 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， ...

Investment Rating - The report maintains a recommendation for companies such as Funiu Co., Ltd. and Shenneng Co., Ltd. while cautiously recommending China General Nuclear Power and Anhui Energy [4][21]. Core Viewpoints - In May, the total electricity consumption reached 809.6 billion kWh, showing a year-on-year growth of 4.4%. The first industry saw an increase of 8.4%, the second industry 2.1%, the third industry 9.4%, and urban and rural residents' consumption 9.6% [2][22]. - The report highlights that coal prices are expected to remain low, benefiting thermal power generation, which is anticipated to improve performance in Q2. Companies are actively investing in wind power and cogeneration assets for long-term growth potential [4][19]. Summary by Sections Weekly Market Review - The electricity sector underperformed the broader market, with the public utility sector closing at 2355.40 points, down 1.13%, and the electricity sub-sector at 3131.64 points, down 1.31% [1][8]. - Among the electricity sub-sectors, photovoltaic generation fell by 1.57%, wind power by 1.28%, while thermal services rose by 2.08% [1][13]. Industry Data Tracking - The average price of thermal coal in the Bohai Rim region was 663.00 RMB/ton, with no change week-on-week [48]. - The report notes that the electricity market is experiencing a decline in coal and gas prices, with the average transaction price for coal in Guangdong dropping by 28.43% [69]. Investment Recommendations - The report recommends focusing on companies with stable performance and growth potential, particularly in thermal power and hydropower sectors, such as Changjiang Electric Power and Sichuan Investment Energy [4][20]. - It also suggests monitoring companies involved in asset restructuring and mergers, as these are expected to gain traction this year [20].

证券代码：600025 证券简称：华能水电 公告编号：2025-042 华能澜沧江水电股份有限公司 一、董事/高级管理人员离任情况 | 姓名 | 离任职务 | 离任时间 | 原定任期 | 离任原因 | 是否继续在上 市公司及其控 | 具体职务 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 到期日 | | 股子公司任职 | （如适用） | 毕的公开 承诺 | | | 董事、副 董事长、 | | | | | | | | 李石山 | 董事会战 | 2025 年 6 | 2027 年 3 月 | 工作变动 | 否 | 不适用 | 否 | | | 略与决策 | 月 18 日 | 19 日 | 原因 | | | | | | 委员会委 | | | | | | | | | 员 | | | | | | | (一) 提前离任的基本情况 (二) 离任对公司的影响 根据《中华人民共和国公司法》《公司章程》的有关规定，李石山先生非独 立董事变更不会导致公司董事会成员低于法定人数，不会影响公司正常生产经营。 截至本公告披露日，李石山先生未持 ...

关于聘任公司高级管理人员的公告 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。 证券代码：600025 证券简称：华能水电 公告编号：2025-040 华能澜沧江水电股份有限公司 华能澜沧江水电股份有限公司（以下简称公司）于2025年6月18日召开第四 届董事会第八次会议，审议通过了《关于聘任公司高级管理人员的议案》。根据 《公司章程》有关规定，经董事会提名委员会审查，董事会同意聘任段川先生、 卢吉先生为公司副总经理。以上高级管理人员任期自本次董事会审议通过之日起， 至公司第四届董事会届满之日止。 上述高级管理人员任职资格符合《中华人民共和国公司法》等法律法规关于 高级管理人员任职资格要求，不存在《中华人民共和国公司法》《上海证券交易 所股票上市规则》等法律法规及《公司章程》规定禁止任职的情形。 高级管理人员简历附后。 特此公告。 华能澜沧江水电股份有限公司董事会 2025 年 6 月 19 日 附：高级管理人员简历 段川先生，1974 年 2 月出生，工程硕士，正高级工程师。段川先生历任华 能景洪水电工程建设管理局安全质量环 ...

华能澜沧江水电股份有限公司（以下简称公司）收到股东方云南合和（集团） 股份有限公司函件，因上级工作调整，建议李石山先生不再担任公司非独立董事、 副董事长及董事会战略与决策委员会委员，拟推荐华士国先生为公司非独立董事 候选人。公司董事会对李石山先生在任职期间的工作给予充分肯定，对其作出的 贡献表示衷心感谢。 2025 年 6 月 18 日，公司召开董事会提名委员会 2025 年第二次会议、第四 届董事会第八次会议，分别审议通过了《关于更换公司非独立董事的议案》。经 董事会提名委员会审查通过，董事会同意提名华士国先生为公司第四届董事会非 独立董事候选人，任期自股东大会审议通过之日起至第四届董事会届满之日止， 同意将该议案提交公司股东大会审议。 证券代码：600025 证券简称：华能水电 公告编号：2025-041 华能澜沧江水电股份有限公司 关于更换公司非独立董事的公告 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。 附：非独立董事候选人简历 华士国先生，1971 年 10 月出生，汉族，中共党员，硕士研究生，工程师， 现任云南合 ...