Group 1 - The company has revised its governance structure by expanding the board size, adding one employee director and one independent director, while proposing to abolish the supervisory board, transferring its powers to the audit committee of the board [2] - The company implemented a capital reserve fund conversion plan, increasing the total share capital from 421,432,670 shares to 547,862,471 shares by issuing 0.3 shares for every share held [3] - The company plans to change its registered address to align with the relocation of its main office to a new location in Suining, Sichuan Province [3] Group 2 - The board of directors has approved the amendments to the company's articles of association and meeting rules, which will be submitted for shareholder approval [2] - The company ensures the accuracy and completeness of the announcement regarding the amendments, taking legal responsibility for any misrepresentation [2] - The amendments are in accordance with relevant laws and regulations, including the Company Law of the People's Republic of China and guidelines from the China Securities Regulatory Commission [2]

Group 1 - The company held its 18th meeting of the 11th Supervisory Board on August 27, 2025, with all four supervisors present, complying with legal regulations [3][5][6] - The Supervisory Board approved the 2025 semi-annual report, confirming that the report's preparation and review processes met all regulatory requirements [4][6] - The Supervisory Board also approved a risk assessment report regarding China Power Financial Co., confirming the safety and liquidity risks of deposits are controllable [5][6] Group 2 - The company announced the 2025 First Extraordinary General Meeting of Shareholders will be held on September 17, 2025, at 9:00 AM [9][43] - The meeting will utilize the Shanghai Stock Exchange's online voting system, allowing shareholders to vote both on-site and online [10][11] - Shareholders must register to attend the meeting, with specific procedures outlined for both corporate and individual shareholders [21][25] Group 3 - The 24th meeting of the 12th Board of Directors was held on August 27, 2025, with all nine directors present, and all resolutions passed unanimously [32][33] - The Board approved the 2025 semi-annual report, which had previously received unanimous approval from the Audit Committee [35][36] - The Board also approved amendments to the company's Articles of Association and meeting rules, which will be submitted for shareholder approval [40][41]

Core Insights - The company reported a total operating revenue of 1.524 billion yuan, marking a year-on-year increase of 13.73% and achieving five consecutive years of growth [1] - The net profit attributable to shareholders decreased to 73.72 million yuan, reflecting a decline of 13.08% compared to the same period last year [1] - The net cash inflow from operating activities was 70.04 million yuan, down 59.73% year-on-year [1] Financial Performance - The latest debt-to-asset ratio stands at 27.97%, ranking 11th among peers, with a quarterly increase of 1.14 percentage points and a year-on-year decrease of 1.65 percentage points [3] - The gross profit margin is 9.37%, ranking 77th among peers, with a quarterly decrease of 4.22 percentage points and a year-on-year decrease of 1.66 percentage points [3] - The return on equity (ROE) is 2.46%, ranking 60th among peers, down 0.50 percentage points from the previous year [3] - The diluted earnings per share are 0.13 yuan, ranking 51st among peers, with a decrease of 0.02 yuan year-on-year, reflecting a decline of 13.05% [3] Efficiency Metrics - The total asset turnover ratio is 0.37 times, ranking 2nd among peers, with a year-on-year increase of 9.51% [3] - The inventory turnover ratio is 79.90 times, ranking 9th among peers, with a significant year-on-year increase of 54.25% [3] Shareholder Information - The number of shareholders is 83,200, with the top ten shareholders holding 181 million shares, accounting for 33.00% of the total share capital [3]

Group 1 - The core viewpoint of the article highlights the financial performance of Ming Star Power, indicating a revenue increase but a decline in net profit for the first half of 2025 [1] Group 2 - For the first half of 2025, the company's operating revenue is approximately 1.524 billion yuan, representing a year-on-year increase of 13.73% [1] - The net profit attributable to shareholders of the listed company is approximately 73.72 million yuan, showing a year-on-year decrease of 13.08% [1] - The basic earnings per share is 0.1346 yuan, which is a year-on-year decrease of 13.05% [1]

Group 1 - The company reported a total operating revenue of 1.524 billion yuan for the first half of 2025, representing a year-on-year increase of 13.73% [1] - The net profit attributable to shareholders of the parent company was 73.724 million yuan, showing a year-on-year decrease of 13.08% [1] - The basic earnings per share were 0.1346 yuan [1]

证券代码：600101 证券简称：明星电力 公告编号：2025-024 四川明星电力股份有限公司 关于召开2025年第一次临时股东大会的通知 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： 股东大会召开日期：2025年9月17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会网 络投票系统 2025 年 8 月 27 日，四川明星电力股份有限公司（简称"公司"） 第十二届董事会第二十四次会议以 9 名董事全票审议通过了《关于召 开 2025 年第一次临时股东大会的议案》。现将具体情况公告如下： 一、 召开会议的基本情况 （一）股东大会类型和届次 2025年第一次临时股东大会 （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 1 / 7 （四）现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 17 日 9 点 00 分 召开地点：四川省遂宁市开发区明月路 56 号，明星康年大酒店 2 楼康年厅。 （五）网络投票的系统、起止日期 ...

四川明星电力股份有限公司 第十一届监事会第十八次会议决议公告 本公司监事会及全体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。 重要内容提示： 证券代码：600101 证券简称：明星电力 公告编号：2025-025 根据《证券法》和《上海证券交易所股票上市规则》的有关要求， 公司监事会对董事会编制的 2025 年半年度报告进行了审核，并发表如下 审核意见： 1.公司 2025 年半年度报告的编制和审议程序符合法律、行政法规和 中国证监会的各项规定； 2.公司 2025 年半年度报告的内容和格式符合中国证监会和上海证券 交易所的各项规定，报告的内容能够真实、准确、完整地反映公司的实 际情况； 一、监事会会议召开情况 四川明星电力股份有限公司（简称"公司"）第十一届监事会第十八 次会议于 2025 年 8 月 27 日在公司会议室以现场结合视频的方式召开， 会议通知和会议资料已于 2025 年 8 月 15 日以电子邮件的方式向监事和 相关高级管理人员发出。会议由监事会主席向道泉先生主持，应出席监 事 4 名，实际出席监事 4 名，相关高级管理人 ...

证券代码：600101 证券简称：明星电力 公告编号：2025-022 四川明星电力股份有限公司 第十二届董事会第二十四次会议决议公告 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。 重要内容提示： 一、董事会会议召开情况 四川明星电力股份有限公司（简称"公司"）第十二届董事会第 二十四次会议于 2025 年 8 月 27 日在公司会议室以现场结合视频的方 式召开，会议通知和会议资料已于 2025 年 8 月 15 日以电子邮件的方 式向董事、监事和高级管理人员发出。会议由董事长陈峰先生主持， 应出席董事 9 名，实际出席董事 9 名，公司监事和高级管理人员列席 了会议。会议的召开符合《公司法》等法律法规及公司《章程》的有 关规定。 二、董事会会议审议情况 （一）审议通过了《2025 年半年度报告全文及摘要》 1 / 3 本议案在提交公司董事会审议之前，已经公司董事会审计委员会 审议并获全票同意。 详见上海证券交易所网站（https://www.sse.com.cn）。 （二）审议通过了《关于对中国电力财务有限公司的风险持续 ...

Financial Performance - The company's operating revenue for the first half of 2025 was CNY 1,523,842,607.93, representing a 13.73% increase compared to CNY 1,339,905,797.64 in the same period last year[24]. - The total profit for the first half of 2025 was CNY 90,717,409.68, a decrease of 10.26% from CNY 101,086,562.73 in the previous year[24]. - The net profit attributable to shareholders was CNY 73,723,934.94, down 13.08% from CNY 84,813,886.83 year-on-year[24]. - Basic earnings per share for the first half of 2025 were CNY 0.1346, a decrease of 13.05% from CNY 0.1548 in the same period last year[25]. - The weighted average return on equity decreased by 0.53 percentage points to 2.43% compared to 2.96% in the previous year[25]. - The company reported a total of CNY 126,429,801.00 in capital reserves transferred to capital stock[158]. - The total comprehensive income for the first half of 2025 was CNY 50,583,937.82, down from CNY 69,317,938.14 in the first half of 2024, reflecting a decrease of 27.0%[143]. Cash Flow and Assets - The net cash flow from operating activities decreased by 59.73% to CNY 70,043,267.07, primarily due to increased electricity purchase costs[25]. - The total assets at the end of the reporting period were CNY 4,163,383,125.13, reflecting a 1.40% increase from CNY 4,105,767,592.67 at the end of the previous year[24]. - The company's current assets totaled RMB 1,066,762,332.30, compared to RMB 1,081,295,773.14 at the end of 2024, indicating a decrease of approximately 1.5%[129]. - Cash and cash equivalents were reported at RMB 843,670,349.57, down from RMB 886,555,695.50, reflecting a decline of about 4.8%[129]. - The total liabilities were RMB 842,574,243.66, up from RMB 790,665,638.10, indicating an increase of approximately 6.6%[131]. - The company's asset-liability ratio stands at 27.97%, with a labor productivity of 236,800 CNY per employee[79]. Revenue and Sales - The electricity sales volume reached 2.45776 billion kWh, representing a year-on-year increase of 14.51%[38]. - The company achieved a total electricity generation of 158.92 million kWh, a year-on-year decrease of 16.16%[38]. - The total revenue from sales of goods and services was CNY 1,471,706,760.15, an increase from CNY 1,305,899,523.50 in the first half of 2024[148]. - The company reported a revenue of 23,963.51 million RMB from Sichuan Huaren Wantong Gas Co., Ltd., contributing significantly to the overall performance[71]. Investments and Expenses - Research and development expenses rose by 73.64% to CNY 6.01 million, driven by increased investment in new technologies by the company's wholly-owned subsidiary[58]. - The company invested CNY 55.4395 million in infrastructure upgrades, completing 70% of the low-voltage network renovation project across 37 villages by June 30, 2025[91]. - The company reported a decrease in investment income to CNY 5,548,390.37 in the first half of 2025, down from CNY 8,958,518.72 in the previous year[137]. Market Position and Strategy - The company maintained a 100% market share in the electricity supply sector and nearly 90% in the water supply sector within its jurisdiction[36]. - The company has implemented a digital development plan to enhance operational efficiency and customer service[44]. - The company is focusing on enhancing its market competitiveness through various measures aimed at improving quality and efficiency[74]. - The company has signed contracts for market-oriented electricity sales, with continuous growth in signed sales volume[44]. Governance and Compliance - The company maintained a stable governance structure and risk management system to ensure compliance and operational efficiency[51]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance and reflect the company's financial position as of June 30, 2025[175][178]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its operational viability[176]. Shareholder Information - The cash dividend per share for the 2024 fiscal year is set at 0.12 CNY, with a cash dividend payout ratio increasing from 21.18% to 31.41% over the past three years[82]. - The company has continuously paid dividends for 16 years, totaling 388 million CNY in cumulative dividends[82]. - The largest shareholder, State Grid Sichuan Electric Power Company, holds 20.07% of the total shares, amounting to 109,968,464 shares[119].

中国电财成立于 1993 年 12 月，是由国家金融监督管理总局（原 中国银行保险监督管理委员会）监管的非银行金融机构，注册资本金 280 亿元，国家电网有限公司（简称"国家电网"）持股 51%，国网英 大国际控股集团有限公司（简称"国网英大集团"）持股 49%。中国电 财本部位于北京，拥有 26 家区域及省级分支机构。 四川明星电力股份有限公司 关于对中国电力财务有限公司的风险持续评估报告 按照《上海证券交易所上市公司自律监管指引第 5 号——交易与 关联交易》的要求，四川明星电力股份有限公司（简称"公司"）通过 查验中国电力财务有限公司（简称"中国电财"）《金融许可证》《营 业执照》等证件资料，并审阅包括资产负债表、利润表、现金流量表 等在内的中国电财的定期财务报告，对中国电财的经营资质、业务和 风险状况进行了评估，风险评估情况如下： 一、中国电力财务有限公司基本情况 （一）中国电财基本情况 公司名称：中国电力财务有限公司 企业类型：有限责任公司（国有控股） 法定代表人：谭永香 注册资本：280 亿元人民币 注册地址：北京市东城区建国门内大街乙 18 号院 1 号楼 金融许可证机构编码：L0006H111 ...