附件 2 国投电力控股股份有限公司 股东会议事规则 第一章 总则 第一条 为了保证程序和决议的合法性，提高股东会议事效 率，保障股东合法权益，股东会根据《中华人民共和国公司法》（以 下简称《公司法》）、《上市公司股东会规则》（以下简称《股东会 规则》）、《境内企业境外发行证券和上市管理试行办法》（以下简 称《试行办法》）等有关法律、法规和规范性文件及《国投电力控 股股份有限公司章程》（以下简称《公司章程》）之规定，制定本 规则。 第二条 上市公司应当严格按照法律、行政法规、本规则及 《公司章程》的相关规定召开股东会，保证股东能够依法行使权 利。公司董事会应当切实履行职责，认真、按时组织股东会。公 司全体董事应当勤勉尽责，确保股东会正常召开和依法行使职权。 第三条 股东会应当在《公司法》和《公司章程》规定的范 围内行使职权。 第二章 股东会的职权 - 1 - 第四条 股东会是公司的权力机构，依法行使下列职权： （一）选举和更换董事，决定有关董事的报酬事项； （二）审议批准董事会的报告； （三）审议批准公司的利润分配方案、利润分配政策调整方 案和弥补亏损方案； （四）对公司增加或者减少注册资本作出决议； （五）对 ...

附件 4 国投电力控股股份有限公司 总经理工作细则 （2025 年修订） 目 录 第一章 总 则 第二章 总经理的聘任 第三章 总经理的职权 第四章 总经理办公会议制度 第五章 总经理的责任与义务 第六章 附则 第一章 总则 第一条 为规范国投电力控股股份有限公司（以下简称公 司）总经理的行为，提高总经理的工作效率，保证总经理依法 行使职权，忠实履行职责，促使公司日常经营管理活动有效开 展，根据《中华人民共和国公司法》（以下简称《公司法》） 和《国投电力控股股份有限公司章程》（以下简称《公司章程》） 及其它有关法律、法规，并结合公司实际情况，制定本细则。 第二章 总经理的聘任 第二条 公司设总经理一名，副总经理若干名，董事会秘 书一名，总会计师（财务负责人）一名，总法律顾问一名。 第三条 总经理由董事长提名，董事会聘任或解聘。副总 经理、总会计师（财务负责人）和总法律顾问由总经理提名， 董事会聘任或解聘。 董事可受聘兼任公司总经理、副总经理或其他高级管理人 员，但兼任总经理、副总经理或其他高级管理人员职务的董事 以及由职工代表担任的董事，总计不得超过公司董事总数的二 分之一。 第四条 公司总经理每届任期三年， ...

证券代码：600886 证券简称：国投电力 编号：2025-039 国投电力控股股份有限公司 关于修订《公司章程》的公告 （3）完善公司治理运作机制，包括调整临时提案权股东持股比例、优化股 东会程序等。 同时，全文与《上市公司章程指引（2025 年修订）》进行了比较核对，修 订了语义不符合的内容。 2.按照《上市公司治理准则》《股票上市规则》等规定作适应性调整 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。 国投电力控股股份有限公司（以下简称公司）于 2025 年 7 月 28 日召开第十 二届董事会第四十六次会议，审议通过了《关于修订<公司章程>的议案》，现将 有关事项公告如下: 一、国投电力章程修订内容 1.根据新《公司法》及《上市公司章程指引（2025 年修订）》进行修订 主要修订内容如下: （1）根据《公司法》和《上市公司章程指引》要求，删除"第七章 监事会" 以及其他章节涉及监事会、监事相关内容，撤销监事会，后续由董事会审计委员 会承接监事会监督职能;并将章程中"股东大会"相关表述改为"股东会"。 （2）对照《上市公 ...

网络投票系统：上海证券交易所股东会网络投票系统 关于召开2025年第四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： 一、 召开会议的基本情况 证券代码：600886 证券简称：国投电力 公告编号：2025-040 国投电力控股股份有限公司 网络投票起止时间：自2025 年 8 月 13 日 至2025 年 8 月 13 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。 股东大会召开日期：2025年8月13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大会网络投票 系统 (一) 股东大会类型和届次 2025年第四次临时股东大会 (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 (四) 现场会议召开的日期、时间和地点 召开的日期 ...

国投电力控股股份有限公司 2025 年第四次临时股东大会 会议材料 一、会议时间：2025 年 8 月 13 日（星期三）下午14: 00 二、会议地点：北京市西城区西直门南小街147号 207会议室 三、会议内容： （一）主持人致开幕词； （二）选举宣布监票人和计票人名单； （三）审议下列议案： 1.《关于修订<公司章程>的议案》 2.《关于修订<股东大会议事规则>的议案》 3.《关于修订<董事会议事规则>的议案》 （四）股东发言及回答股东提问； （五）股东审议表决； （六）清点表决票，宣布现场表决结果； （七）宣读股东大会决议； （八）见证律师宣读法律意见书； （九）主持人致闭幕词。 国投电力控股股份有限公司 2025 年第四次临时股东大会会议材料 议案一 国投电力控股股份有限公司 关于修订《公司章程》的议案 各位股东及股东代表： 国投电力控股股份有限公司（以下简称国投电力或公司）立足经营实际，根据 中国证监会颁布的《上市公司章程指引（2025 年修订）》《上市公司治理准则 （2025 年修订）》和上海证券交易所发布的《上海证券交易所股票上市规则（2025 年 4 月修订）》等规定，拟修订其公司章程并进行 ...

证券代码：600886 证券简称：国投电力 公告编号：2025-038 国投电力控股股份有限公司 第十二届董事会第四十六次会议决议公告 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。 一、董事会会议召开情况 国投电力控股股份有限公司（以下简称公司）第十二届董事会第四十六次会 议于 2025 年 7 月 21 日以邮件方式发出通知，2025 年 7 月 28 日以通讯方式召开。 本次会议应出席董事 9 人，实际出席董事 9 人，公司董事长郭绪元先生主持本次 会议。本次会议的召集和召开符合《公司法》和《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《关于修订<公司章程>的议案》 董事会同意公司立足经营实际，根据《上市公司章程指引（2025 年修订）》 《上市公司治理准则（2025 年修订）》《上海证券交易所股票上市规则（2025 年 4 月修订）》等规定，对《公司章程》进行修订并进行工商变更登记。具体详见 公司同日在上海证券交易所网站（www.sse.com.cn）披露的《关于修订<公司章 程>的公告》。 本议案 ...

Investment Rating - The report maintains a "Positive" outlook on the public utilities and environmental sectors, particularly in electricity and natural gas [1]. Core Insights - The report highlights a recovery in electricity consumption in June, driven by the tertiary sector and residential usage, with a total electricity consumption of 8,670 billion kWh, representing a year-on-year growth of 5.4% [15][17]. - Natural gas consumption showed a slight increase in June, with a total apparent consumption of 35.05 billion m³, up 1.4% year-on-year, indicating a recovery in industry sentiment [21][48]. - The report emphasizes the ongoing optimization of energy structure in China, with significant contributions from renewable energy sources, particularly solar and nuclear power [2][8]. Summary by Sections 1. Electricity: June Consumption Growth Accelerates - In June, the industrial electricity generation reached 7,963 billion kWh, a year-on-year increase of 1.7% [7][9]. - The breakdown of electricity generation types shows a decline in hydropower by 4.0%, while nuclear power grew by 10.3%, and solar power surged by 18.3% [9][15]. - The report notes that the second industry contributed significantly to the electricity increment, accounting for 38% of the total increase [16][17]. 2. Natural Gas: Global Price Decline and June Consumption Growth - The report states that the apparent consumption of natural gas in June was 35.05 billion m³, marking a 1.4% increase year-on-year [21][48]. - The average price of LNG in Northeast Asia decreased to $11.90/mmBtu, reflecting a broader trend of declining global gas prices [22][41]. - The report anticipates that the long-term outlook for natural gas will improve due to rising LNG export capacities from the US and the Middle East [48]. 3. Weekly Market Review - The public utilities and environmental sectors underperformed compared to the CSI 300 index, while the electrical equipment sector outperformed [50]. 4. Company and Industry Dynamics - The report mentions the increase in installed capacity for solar and wind energy, with solar capacity growing by 54.2% year-on-year [53]. - It highlights the ongoing construction of large seawater desalination projects in coastal provinces to support high water-consuming industries [53]. 5. Key Company Valuation Table - The report includes a valuation table for key companies in the public utilities and environmental sectors, indicating potential investment opportunities [60].

Investment Rating - The report maintains a rating of "Buy" for the industry [3]. Core Viewpoints - The report indicates a significant drop in new installations of solar and wind power in June, suggesting that the supply-side pressure is easing, and green electricity is expected to experience a reversal [2][10]. - The increase in the proportion of renewable energy is expected to stimulate the demand for flexible power generation, benefiting coal-fired power plants and aiding in the absorption of renewable energy [2]. - The report emphasizes the importance of focusing on the power sector, particularly coal-fired power companies with resilient quarterly performance and leading firms in flexible coal-fired power transformation [2]. Summary by Sections Industry Overview - As of June 30, the total installed power generation capacity in the country reached 3.65 billion kilowatts, a year-on-year increase of 18.7%. Solar power capacity was 1.1 billion kilowatts, up 54.2%, and wind power capacity was 570 million kilowatts, up 22.7% [7][13]. - In June, new installations of solar and wind power dropped significantly, with solar power adding 14.36 GW and wind power adding 5.11 GW, down 78.56% and 21.21% respectively from May [7][13]. - The average utilization hours of power generation equipment decreased by 162 hours year-on-year to 1504 hours [7][13]. Electricity Demand - In June, the total electricity consumption increased by 5.4%, with the first, second, and third industries, as well as residential electricity consumption, showing growth rates of 8.7%, 2.4%, 7.1%, and 4.9% respectively [7][10]. - The third industry's electricity demand showed resilience, with internet and related services growing by 27.4% year-on-year [7][10]. Investment Recommendations - The report recommends focusing on coal-fired power companies such as Huaneng International, Huadian International, and Baoneng New Energy, as well as leading firms in flexible coal-fired power transformation like Qingda Environmental Protection [2]. - It also suggests prioritizing undervalued green electricity operators, particularly in the Hong Kong market, and companies with high stock project ratios and short-term revenue certainty [2]. Market Performance - The report notes that during the week of July 21-25, the Shanghai Composite Index rose by 1.67%, while the electricity and public utilities sector index fell by 0.03%, underperforming the broader market [55][56].

Investment Rating - The industry investment rating is "Positive" (maintained) [4] Core Viewpoints - The report highlights a continued performance divergence within the power sector, with thermal power companies showing improved performance in regions like Beijing-Tianjin-Hebei, Guangdong, and Shanghai, while new energy companies exhibit significant individual performance differences [5][6] - Hydropower and nuclear power maintain stable performance, with hydropower's unique business model and resource scarcity being emphasized as key investment considerations [5] - The report suggests focusing on companies with resilient business models that can navigate annual cycles and have higher certainty with lower downside risks [5] Summary by Sections Performance Analysis - The report anticipates that thermal power companies will see improved performance in regions with smaller declines in electricity prices, particularly in Beijing-Tianjin-Hebei and Central China [5] - New energy performance is expected to vary significantly based on regional wind conditions, electricity price declines, and installed capacity growth [5] - Hydropower's pricing impact is expected to be controllable in the short term, with a focus on low-valuation and growth-oriented companies [5] Investment Recommendations - The report provides three stock selection strategies: prioritize resilient hydropower assets, continue to monitor low-valuation or growth-oriented wind power operators, and focus on quality thermal power assets and power equipment manufacturers [5] - Key recommended companies include: 1. Quality Hydropower: Chuan Investment Energy, Yangtze Power, Huaneng Hydropower, State Power Investment [5] 2. Hong Kong Wind Power: Longyuan Power (H), Datang New Energy, CGN New Energy, New天绿色能源 [5] 3. Quality Thermal Power: China Resources Power, Anhui Energy, Sheneng Co., Guangzhou Development [5] 4. Traditional Power Equipment Manufacturers: Dongfang Electric [5]

Core Viewpoint - The commencement of the Yarlung Tsangpo River downstream hydropower project, with a total investment of approximately 1.2 trillion yuan, is expected to significantly reshape China's energy landscape, positively impacting the hydropower sector in the A-share market [1] ESG Reporting and Ratings - Among the 10 listed companies in the A-share hydropower industry, 7 have disclosed their 2024 ESG reports, resulting in a disclosure rate of 70% [1][2] - 9 out of 10 companies in the hydropower sector have received an A rating (including A and A+), while only 1 company is rated C [2] - Only 3 companies have disclosed Scope 1 and Scope 2 carbon emissions data, with no companies reporting Scope 3 emissions [2][4] Environmental and Social Dimensions - The protection of biodiversity is crucial for sustainable operations in hydropower projects, as highlighted by Guotou Power, which emphasizes ecological restoration and monitoring [5] - Jiangsu Power focuses on community relations and resettlement management to minimize the impact on local residents, ensuring long-term harmony [5] - The assessment of both environmental and social impacts is essential for determining the "green" status of hydropower projects, as improper management can lead to new environmental and social liabilities [6] International Expansion and Compliance - Leading hydropower companies are exploring overseas projects, such as Yangtze Power's clean energy initiatives in Peru and Huaneng Hydropower's first overseas large-scale hydropower BOT project in Myanmar [7][8] - The global shift away from coal has created a strong demand for clean energy, making countries with abundant water resources attractive for investment [8] - Compliance with local laws and regulations is critical for the success of offshore projects, as they face more complex risks compared to domestic projects [8]