证券代码：600482 证券简称：中国动力 公告编号：2025-066 债券代码：110808 债券简称：动力定 02 中国船舶重工集团动力股份有限公司 关于终止发行可转换公司债券及支付现金购买资产 并募集配套资金暨关联交易事项相关主体自查期间 买卖股票情况的自查报告 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。 中国船舶重工集团动力股份有限公司（以下简称"中国动力"、"上市公 司"或"公司"）原拟通过发行可转换公司债券及支付现金的方式向中国船舶 工业集团有限公司购买其持有的中船柴油机有限公司16.5136%股权，并向不超 过35名特定投资者发行可转换公司债券募集配套资金（以下简称"本次重组" 或"本次交易"）。 2025年9月12日，公司召开第八届董事会第十七次会议，审议通过了《关于 终止发行可转换公司债券及支付现金购买资产并募集配套资金暨关联交易事项 并撤回申请文件的议案》《关于公司与交易对方签署相关终止协议的议案》， 同意公司终止发行可转换公司债券及支付现金购买资产并募集配套资金暨关联 交易事项（以下简称"本次终止"） ...

Core Points - The article emphasizes China's commitment to global climate governance and its new contributions to the Paris Agreement, highlighting the importance of multilateral cooperation in addressing climate change [1][2][4] Group 1: China's New Contributions - By 2035, China aims to reduce its total greenhouse gas emissions by 7%-10% from peak levels, with non-fossil energy consumption exceeding 30% of total energy consumption [2] - Wind and solar power capacity is targeted to exceed 360 million kilowatts, which is over six times the capacity in 2020 [2] - Forest stock is expected to reach over 24 billion cubic meters, and new energy vehicles are projected to become the mainstream of new vehicle sales [2] Group 2: Achievements in Green Development - As of June 2023, China's renewable energy capacity reached 2.159 billion kilowatts, accounting for approximately 59.2% of total installed power generation capacity [3] - The share of non-fossil energy consumption increased from 15.9% in 2020 to 19.8% in 2024 [3] - China has already achieved its 2030 targets for wind and solar power capacity, with cumulative installed capacity reaching 1.68 billion kilowatts, over three times that of 2020 [3] Group 3: International Cooperation and Support - China has signed 54 climate change cooperation memorandums with 42 developing countries, implementing over 300 capacity-building projects [3] - Since 2016, China has mobilized over 177 billion yuan in project funding to support developing countries in addressing climate change [3] - As the largest exporter of clean technology, China has provided 60% of global wind power equipment and 70% of solar photovoltaic components, significantly reducing costs for these technologies [3]

Core Points - The article emphasizes China's commitment to global climate governance and its new contributions announced by President Xi Jinping at the UN Climate Change Summit, aiming to enhance confidence and cooperation in addressing climate change [1][2][4] Group 1: China's New Contributions - By 2035, China aims to reduce its total greenhouse gas emissions by 7%-10% from peak levels, with non-fossil energy consumption exceeding 30% of total energy consumption [2] - Wind and solar power generation capacity is targeted to exceed 360 million kilowatts, which is over six times the capacity in 2020 [2] - Forest stock is expected to reach over 24 billion cubic meters, and new energy vehicles are projected to become the mainstream of new vehicle sales [2] Group 2: Achievements in Green Development - As of June 2023, China's renewable energy installed capacity reached 2.159 billion kilowatts, accounting for approximately 59.2% of total installed capacity [3] - The share of non-fossil energy consumption increased from 15.9% in 2020 to 19.8% in 2024, with wind and solar power capacity already exceeding three times the 2020 levels [3] - China has signed 54 climate change cooperation memorandums with 42 developing countries, providing over 177 billion yuan in project funding since 2016 [3] Group 3: Vision for Global Cooperation - China advocates for a multilateral framework in climate governance, emphasizing the need for developed countries to fulfill their commitments and support developing nations with funding and technology [4] - The country aims to bridge the North-South gap through global green transformation and promote a fair and cooperative climate governance system [4] - China's actions reflect its commitment to building a community with a shared future for mankind, contributing to a sustainable and green future [4]

新贡献的分量，折射出全球绿色转型的中国行动。过去10年间，中国不断加强应对气候变化南南合作， 坚持共建绿色"一带一路"，让绿色发展成果惠及全球南方，为全球低碳产业升级和减排实践提供了丰富 的公共产品。作为全球最大清洁技术出口国，中国迄今已向全球提供了60%的风电设备、70%的光伏组 件设备，推动全球风电和光伏发电成本分别下降超过60%和80%，"十四五"期间出口风电和光伏产品累 计为其他国家减少碳排放约41亿吨。截至今年9月，中国已与42个发展中国家签署54份气候变化南南合 作谅解备忘录，累计实施300多期能力建设项目，自2016年以来已为发展中国家应对气候变化提供并动 员项目资金总额超过1770亿元，为其他发展中国家应对气候变化提供了有力支持。 新主张的远见，彰显构建人类命运共同体的中国理念。中国始终将自身发展与世界整体发展紧密联系在 一起，推动国际社会共走绿色、低碳、可持续发展之路。中国始终坚定维护《联合国气候变化框架公 约》确立的多边机制，积极参与和引领全球气候治理。中国持续为尊重发展中国家的发展权发声，呼吁 发达国家切实履约，向发展中国家提供更多资金和技术支持，通过全球绿色转型缩小南北差距，推动构 建 ...

Market Performance - The other power equipment sector increased by 2.1% on September 24, with Haibo Sichuang leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Individual Stock Performance - Haibo Sichuang (688411) closed at 268.98, up 4.30% with a trading volume of 47,300 shares and a transaction value of 1.27 billion [1] - Shanghai Electric (601727) closed at 8.87, up 4.11% with a trading volume of 8.15 million shares and a transaction value of 7.25 billion [1] - Other notable performers include Kewell (688551) up 3.94%, Yingjie Electric (300820) up 3.45%, and Futec Technology (832110) up 2.52% [1] Fund Flow Analysis - The other power equipment sector experienced a net outflow of 205 million from institutional investors, while retail investors saw a net inflow of 333 million [2][3] - Major stocks like Shanghai Electric and Haibo Sichuang had mixed fund flows, with Shanghai Electric seeing a significant net outflow from both institutional and retail investors [3]

Group 1 - The China Shipbuilding sector experienced a decline of 0.67%, ranking among the top declines in concept sectors, with major companies like China Shipbuilding, China Ship Defense, and China Power seeing significant drops [1] - Among the stocks in the China Shipbuilding sector, three stocks saw price increases, with China Ship Special Gas rising by 2.35%, Kunshan Intelligent by 1.15%, and Jiuzhiyang by 0.11% [1] Group 2 - The main concept sectors with notable price changes included Reducers (+3.72%), Humanoid Robots (+3.58%), and Automotive Thermal Management (+3.28%), while the China Shipbuilding sector was among those with declines [2] - The China Shipbuilding sector saw a net outflow of 936 million yuan in principal funds, with eight stocks experiencing outflows, and seven stocks seeing outflows exceeding 10 million yuan [2] - The stock with the highest net outflow was China Shipbuilding, with a net outflow of 737.42 million yuan, followed by China Power and China Ship Defense with outflows of 65.01 million yuan and 41.50 million yuan, respectively [2]

Market Overview - On September 16, the other power equipment sector declined by 0.35%, with Magpowr leading the drop [1] - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] Stock Performance - Key stocks in the other power equipment sector showed varied performance, with Keda's stock price increasing by 7.22% to 39.37, and Magpowr's stock price decreasing by 3.97% to 83.41 [1][2] - The trading volume and turnover for Keda reached 419,700 shares and 1.627 billion yuan, respectively [1] Capital Flow - The other power equipment sector experienced a net outflow of 966.5 million yuan from institutional investors, while retail investors saw a net inflow of 464 million yuan [2][3] - Notable net inflows from retail investors were observed in stocks like Keda and Xizi Clean Energy, while significant outflows were noted in stocks like Green Energy Charging [3]

Core Viewpoint - The shipbuilding sector is experiencing pressure on stock prices in the first half of 2025, primarily due to a decline in market volume and prices, despite strong earnings performance from shipbuilding companies [1][2]. Group 1: Stock Performance and Fund Holdings - In the first half of 2025, the shipbuilding sector's stock prices underperformed compared to the CSI 300 index, with a notable year-on-year decline in fund holdings for major shipbuilding companies [2]. - Specifically, the fund holding ratio for China Shipbuilding decreased by 3.8 percentage points and 4.9 percentage points year-on-year in Q1 and Q2 of 2025, respectively, although there was a significant increase in Q2 compared to Q1, indicating renewed institutional interest [2]. Group 2: Earnings Performance - Shipbuilding companies reported impressive earnings growth, with profits increasing significantly more than revenues, driven by high-priced orders from around 2022 entering a delivery phase and a decrease in steel costs compared to 2021 [3]. - Key subsidiaries of China Shipbuilding, such as Waigaoqiao and China Shipbuilding Industry Corporation, have shown continuous growth in net profit margins and return on equity (ROE) over multiple reporting periods [3]. Group 3: Market Conditions - The shipbuilding market is facing a downturn, with new orders and new ship prices under significant downward pressure, as the shipping market has experienced a notable decline in freight rates, with major ship types seeing average price drops exceeding 20% year-on-year [4]. - Global new ship orders fell to 1.67 million CGT in May 2025, marking the lowest monthly level in nearly four years, and the Clarkson Global Newbuilding Price Index decreased from 189.96 in September 2024 to 186.69 in May 2025 [4]. - The decline in the domestic shipbuilding market is attributed to the impact of the U.S. Section 301 sanctions and a lower willingness of leading domestic shipyards to accept new orders [4]. Group 4: Future Outlook - The order capacity ratios for bulk carriers and oil tankers are currently low at 10.4% and 15%, respectively, indicating that the shipbuilding cycle has not yet reached its peak [5]. - BIMCO estimates that the potential number of ship demolitions over the next decade will reach 16,000 vessels, totaling 700 million deadweight tons (DWT), which is significantly higher than previous estimates [5]. - Despite short-term order pressures, the low order capacity ratios for mainstream ship types, particularly bulk carriers and medium to large oil tankers, suggest potential for future market recovery, especially with the anticipated impact of U.S. interest rate cuts on supply-demand dynamics [6]. Group 5: Recommendations - The shipbuilding sector is recommended for continued investment, with strong endorsements for companies such as China Shipbuilding (600150.SH) and China Power (600482.SH), along with suggestions to monitor China Shipbuilding Defense (600685.SH), CIMC (000039.SZ), Yaxing Anchor Chain (601890.SH), and Runbang Co., Ltd. (002483.SZ) [6].

Core Viewpoint - China Power (600482.SH) has announced the termination of its plan to acquire a 16.5136% stake in China Ship Diesel Engine Co., Ltd. after nearly a year of planning due to changes in external circumstances [2][5]. Group 1: Transaction Details - The initial plan involved a total transaction value of approximately 3.814 billion yuan, with cash consideration of about 753 million yuan and convertible bond consideration of approximately 3.061 billion yuan [3]. - China Power intended to raise an additional 2 billion yuan to support the acquisition, with allocations for various projects and working capital [3]. - China Power currently holds a 51.8526% stake in China Ship Diesel Engine, making it the largest shareholder and allowing it to consolidate financial statements [3]. Group 2: Business Context - China Ship Diesel Engine specializes in the research, manufacturing, sales, and after-sales service of marine diesel engines [4]. - The acquisition was part of a broader strategy to consolidate the power business of the former China Shipbuilding Industry Group and eliminate competition within the diesel engine sector [4]. - The completion of the acquisition was expected to enhance China Power's control over its diesel engine business and improve decision-making efficiency [4]. Group 3: Termination Reasons - The termination of the acquisition was attributed to changes in external conditions, which the company did not specify but may relate to a decline in global new ship orders and prices [5][6]. - Following the issuance of an inquiry letter from the Shanghai Stock Exchange regarding the transaction, China Power did not respond before deciding to terminate the acquisition [6]. - The company has committed to optimizing the transaction plan and will not plan any major asset restructuring for at least one month following the announcement [7].

Group 1 - The core viewpoint of the news highlights the recent stock performance and financial metrics of China Power, indicating a decline in stock price and significant net outflow of funds [1][2] - As of September 16, China Power's stock price decreased by 2.03% to 21.76 CNY per share, with a total market capitalization of 49.022 billion CNY [1] - The company has experienced a year-to-date stock price decline of 10.39%, with a 5-day drop of 1.27%, a 20-day drop of 6.21%, and a 60-day drop of 4.01% [1] Group 2 - China Power's main business segments include diesel power (49.92%), chemical power (14.33%), marine platform and ship machinery (12.53%), and precious metals (7.59%) among others [1] - As of June 30, the number of shareholders for China Power was 59,300, a decrease of 13.87% from the previous period, while the average circulating shares per person increased by 16.11% to 37,967 shares [2] - For the first half of 2025, China Power reported operating revenue of 27.651 billion CNY, a year-on-year increase of 11.22%, and a net profit attributable to shareholders of 919 million CNY, a significant year-on-year growth of 93.35% [2] Group 3 - Since its A-share listing, China Power has distributed a total of 2.115 billion CNY in dividends, with 825 million CNY distributed over the past three years [3]