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 担个别及连带责任。 四川川投能源股份有限公司（以下简称"公司"）2025 年 4 月 12 日发布公司 2024 年年度报告和 2025 年一季度报告，为便于广大 投资者更全面深入地了解公司2024年全年和2025年一季度经营成果、 财务状况，公司于 2025 年 5 月 22 日上午 10:00-11:00 举行 2024 年 度暨 2025 年第一季度业绩说明会，就投资者关心的问题进行交流。 现将会议召开情况公告如下： 股票代码：600674 股票简称：川投能源 公告编号：2025-033 号 四川川投能源股份有限公司 关于2024年度暨2025年第一季度业绩说明会召开 情况的公告 一、 业绩说明会召开基本情况 2025 年 5 月 22 日上午 10:00-11:00，公司通过上海证券交易所 "上证路演中心"以"视频和网络互动"方式召开了"2024 年度暨 2025 年第一季度业绩说明会"。公司董事长吴晓曦先生，独立董事 向永忠先生、王劲夫先生，副董事长、总经理杨洪先生，副总经理、 总 ...

每经记者｜胥帅 每经编辑｜陈俊杰 公司董事长吴晓曦对此颇为感慨："作为一家聚焦高质量发展的企业，去年取得积极结果是因为大家齐心协力，各项指标再创新高，公司治理规范有序，社 会责任充分彰显。" "公司发展势头良好，未来可期。"吴晓曦进而表示，他对公司未来发展充满信心，会继续保持开放的心态加强合作，为公司高质量发展注入强劲的动 力，"我们也将继续发扬勇于担当的精神，主动为社会创造更多价值，为股东谋求更多长远利益"。 每经记者 胥帅 摄 董事长称公司发展势头良好 2024年，川投能源实现营业收入16.09亿元，同比增长8.54%；归属于上市公司股东的净利润45.08亿元，同比增长2.45%。其中，报告期内公司投资收益为 46.43亿元，同比减少3.53%，占当期净利润的比例约为103%。截至2024年12月31日，公司参控股总装机达3696万千瓦（不含三峡能源、中广核风电和中核 汇能），资产规模、装机水平和盈利能力在四川省上市公司以及电力上市公司中均名列前茅，具有较强的市场竞争优势。 作为四川上市公司里少有的水电企业，市值超800亿元的川投能源（600674.SH，股价17.48元，市值852.08亿元）也是公认的 ...

Investment Rating - The report indicates a positive outlook for the electricity industry, suggesting it is entering a phase of high prosperity due to policy catalysts and fundamental improvements [2][11]. Core Insights - The implementation of the capacity price mechanism starting in 2024 is expected to restructure the revenue model for coal power companies, reducing reliance on energy sales and stabilizing income expectations [11][21]. - The auxiliary service market mechanism has been officially released, accelerating the construction of the spot market, which will support high-quality development in the electricity sector [12]. - Overall electricity demand is recovering, with a reported increase in national electricity consumption of 4.28% year-on-year as of March 2025, indicating a positive trend for the industry [13]. - Hydropower generation is expected to improve due to favorable water conditions, while coal-fired power plants are experiencing reduced fuel cost pressures, enhancing profitability [15][17]. Summary by Sections 1. Policy Catalysts and Fundamental Resonance - The capacity price mechanism will optimize the profit model for coal power, ensuring sustainable operation [11]. - The auxiliary service market will provide new revenue channels for electricity companies, enhancing income diversity [12]. - Electricity demand is on the rise, supporting industry prosperity [13]. 2. Investment Value Analysis of the CSI All-Share Power Index - The CSI All-Share Power Index consists mainly of stocks from the power utility sector, with 98.92% of its components in power generation and grid industries [3][29]. - As of April 30, 2025, the index's P/E ratio is 16.65 and P/B ratio is 1.69, indicating relatively suitable valuation levels [31]. - The index has shown strong profitability and a high willingness to distribute dividends, with a 12-month dividend yield of 2.80% [35]. 3. Analysis of the GF CSI All-Share Power Utility ETF - The GF CSI All-Share Power Utility ETF was established on December 29, 2021, and aims to closely track the CSI All-Share Power Utility Index [45]. - As of May 14, 2025, the ETF has a scale of 3.489 billion yuan and a daily average trading volume of 193 million yuan, indicating good market liquidity [45]. - The fund is managed by an experienced manager with over 25 years in the securities industry [46].

证券代码：600674 证券简称：川投能源 公告编号：2025-032 四川川投能源股份有限公司 2024年年度股东大会决议公告 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 (一)股东大会召开的时间：2025 年 5 月 20 日 (二)股东大会召开的地点：四川省成都市武侯区临江西路 1 号 1508 会议室 (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： | 1、出席会议的股东和代理人人数 | 539 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 3,076,979,138 | | 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 | | | 份总数的比例（%） | 63.1226 | (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。 本次会议符合《公司法》和《公司章程》的规定，大会由公司董事会召集， 董事长吴晓曦先生主持。 审议结果：通过 表决情况： (五)公司 ...

北 京 大 成 （ 成 都 ） 律 师 事 务 所 关 于 四 川 川 投 能 源 股 份 有 限 公 司 2024 年 年 度 股 东 大 会 的 本所及经办律师依据《证券法》《律师事务所从事证券法律业务管理办法》 和《律师事务所证券法律业务执业规则（试行）》等规定及本法律意见书出具日 以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信 用原则，进行了充分的核查验证，保证本法律意见所认定的事实真实、准确、完 整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或者重大遗 漏，并承担相应法律责任。 法 律 意 见 书 大成蓉（2025）法意字第 1116 号 北 京 大 成 （ 成 都 ） 律 师 事 务 所 www.dentons.cn 四川省成都市高新区天府二街吉瑞五路 396 号金控时代广场 2 栋 邮编：610000 Building 2 of Financial Holding Times Square, No. 396 Jirui 5th Road,Tianfu 2nd Stree,High-tech Zone,Chengdu,China Tel: +8628-8703 ...

Group 1 - The public utility ETF (560190.SH) increased by 0.71%, with its associated index, the All Public Utility Index (000995.CSI), rising by 0.80% [1] - Key constituent stocks such as Changjiang Electric Power, China Nuclear Power, and Guotou Power saw significant gains, with increases of 1.35%, 1.47%, and 2.97% respectively [1] - The Ministry of Water Resources anticipates continuous rainfall in the central and northern regions of the Pearl River Basin, potentially leading to flood conditions, which has triggered a level IV flood emergency response [1] Group 2 - The increase in rainfall is expected to boost hydropower generation and performance for water electricity companies like Changjiang Electric Power and Guotou Power, contributing to their stock price increases [1] - Guosen Securities highlighted supportive policies such as the Guangdong Document No. 136 and Zhejiang's encouragement for computing centers to participate in long-term electricity trading, which bolster the public utility sector [1] - The public utility index rose by 0.08% this week, with the water electricity sector performing particularly well, increasing by 0.87% [1]

截至2025年5月15日 10:59，国证绿色电力指数上涨0.01%，成分股京运通上涨7.58%，华能国际上涨1.21%，湖南发展上涨1.09%，明星电力上涨1.05%，国电 电力上涨0.88%。绿色电力ETF(159625)冲击3连涨。 从估值层面来看，绿色电力ETF跟踪的国证绿色电力指数最新市盈率（PE-TTM）仅18.81倍，处于近3年15.99%的分位，即估值低于近3年84.01%以上的时 间，处于历史低位。 数据显示，截至2025年4月30日，国证绿色电力指数前十大权重股分别为长江电力、中国核电、三峡能源、国投电力、川投能源、中国广核、华能国际、华 能水电、国电电力、申能股份，前十大权重股合计占比58.04%。 消息面方面，在近日举办的"中国绿证：畅行中国 走向世界——绿证走进粤港澳大湾区"活动上，全球绿色电力消费倡议（RE100）宣布全面认可中国绿证， 意味着我国和倡议伙伴都可以放心采用绿证，更便捷地核证其采购的可再生能源电力，我国可再生能源转型取得重要进展。 中邮证券表示，绿电和储能的价值有望先后得到重估，新能源作为绿色的波动性电源，其内在价值量应减去"波动"的负外部性，并加上"绿色"的正外部性 ...

Group 1 - Vanke A received a loan of 1.552 billion yuan from its largest shareholder, Shenzhen Metro Group, to repay the principal and interest of publicly issued bonds, with a loan term of 36 months and an annual interest rate of 2.34%, lower than the 1-year LPR [2] - Chengfei Integration announced that its stock has been on a six-day trading limit, confirming that there are no undisclosed significant matters affecting the company [3] - Dongpeng Beverage's shareholder, Kunpeng Investment, reduced its shareholding from 6.44% to 5.43%, a decrease of 1.01 percentage points, through trading activities [4] Group 2 - Baofeng Energy plans to repurchase shares worth between 1 billion and 2 billion yuan, with a maximum repurchase price of 22.80 yuan per share [7] - Huakayi Yibai announced that shareholders plan to reduce their holdings by up to 3% of the company's total shares [6] - China Pacific Insurance reported a 10.4% year-on-year increase in original insurance premium income for its life insurance subsidiary, totaling 115.359 billion yuan [22]

雅砻江流域水电开发有限公司 审计报告及财务报表 信会师报字2025第 ZG10902 号 雅砻江流域水电开发有限公司 审计报告及财务报表 （2024 年 01 月 01 日至 2024 年 12 月 31 日止） 一、 审计报告 1-3 二、 财务报表 合并资产负债表和母公司资产负债表 1-4 合并利润表和母公司利润表 5-6 合并现金流量表和母公司现金流量表 7-8 合并所有者权益变动表和母公司所有者权益变动表 9-12 财务报表附注 1-100 审计报告 信会师报字2025第 ZG10902 号 雅砻江流域水电开发有限公司： 一、 审计意见 我们审计了雅砻江流域水电开发有限公司（以下简称雅砻江水电）财 务报表，包括 2024 年 12 月 31 日的合并及母公司资产负债表，2024 年度 的合并及母公司利润表、合并及母公司现金流量表、合并及母公司所有者 权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定 编制，公允反映了雅砻江水电 2024 年 12 月 31 日的合并及母公司财务状况 以及 2024 年度的合并及母公司经营成果和现金流量。 二、 形成审计意见的 ...

Core Viewpoint - Sichuan ChuanTuo Energy Co., Ltd. plans to increase its investment in Yalong River Company by 1.632 billion yuan to support project construction and meet funding requirements [2][4] Summary by Sections Investment Details - The company will increase its investment in Yalong River Company by 1.632 billion yuan according to its shareholding ratio [2][4] - The total investment in Yalong River Company, including contributions from other shareholders, will amount to 3.4 billion yuan [3][4] Approval Process - The investment has been approved by the independent directors and the company's board of directors, with no need for a shareholders' meeting [2][6] Related Party Transactions - Yalong River Company is considered a related party due to the involvement of company directors in its management [2][3] - The past 12 months have seen related transactions, including a previous investment agreement with Guotou Electric Power [2][4] Financial Overview of Yalong River Company - Yalong River Company has a net asset value of 72.899 billion yuan, with an operating income of 25.725 billion yuan and a net profit of 8.267 billion yuan [3] Impact of the Investment - The investment is expected to accelerate the development of the Yalong River hydropower resources and support the construction of a green energy demonstration base [6] - It will help ensure funding for project construction, reduce costs, and maintain a stable debt-to-asset ratio [6]