(二) 股东会召开的地点：湖北省武汉市江岸区三阳路 88 号 A 座 (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： 证券代码：600900 证券简称：长江电力 公告编号：2025-039 中国长江电力股份有限公司 2025年第二次临时股东会决议公告 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) 股东会召开的时间：2025 年 8 月 15 日 | 1、出席会议的股东和代理人人数 | 19,826 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 18,247,001,432 | | 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（%） | 74.5743 | (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 本次股东会的召集、召开形式和程序符合《公司法》《证券法》《中国长江 电力股份有限公司章程》和《中国长江电力股份有限公司股东会议 ...

东吴证券研报指出，长江电力发布关于未来五年(2026-2030年)股东分红回报规划的公告。2026~2030年最低分红比例维持70%，安全边际稳固。2025H1发电量稳增，乌东德来水偏丰、三峡 ...

北京德恒律师事务所 关于中国长江电力股份有限公司 2025 年第二次临时股东会的 法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于中国长江电力股份有限公司 2025 年第二次临时股东会的法律意见 北京德恒律师事务所 2025 年第二次临时股东会的 法律意见 德恒 01G20220548-23 号 致：中国长江电力股份有限公司 中国长江电力股份有限公司（以下简称"公司"）2025 年第二次临时股东 会（以下简称"本次会议"）于 2025 年 8 月 15 日（星期五）召开。北京德恒律 师事务所（以下简称"本所"）受公司委托，指派杨兴辉律师、王曦律师（以下 简称"本所律师"）出席了本次会议。根据《中华人民共和国公司法》（以下简 称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司股东会规则》（以下简称"《股东会规则》"）、《中国长江电力股 份有限公司章程》（以下简称"《公司章程》"）的相关规定，本所律师就本次 会议的召集、召开程序、现场出席会议人员资格、表决 ...

东吴证券8月15日发布研报称，给予长江电力（600900.SH，最新价：27.63元）买入评级。评级理由主 要包括：1）发电量稳增带动2025H1业绩提升；2）十年期国债收益率下行，红利标杆长江电力空间打 开。风险提示：来水量不及预期，电价波动风险，政策风险，新能源电力市场竞争加剧风险。 （文章来源：每日经济新闻） ...

Investment Rating - The report maintains a "Buy" rating for Changjiang Electric Power [1] Core Views - The company plans to maintain a minimum dividend payout ratio of 70% from 2026 to 2030, ensuring a stable return for shareholders [8] - The company's revenue and net profit are expected to grow steadily, driven by increased power generation from its hydropower stations [8] - The decline in the ten-year government bond yield opens up more room for dividend yields, enhancing the attractiveness of Changjiang Electric Power as a dividend stock [8] Financial Forecasts - Total revenue is projected to reach 78,144 million yuan in 2023, increasing to 87,633 million yuan by 2027, with a compound annual growth rate (CAGR) of approximately 2.4% from 2024 to 2027 [1] - Net profit attributable to shareholders is expected to grow from 27,245 million yuan in 2023 to 37,087 million yuan in 2027, reflecting a CAGR of about 7.8% from 2024 to 2025 [1] - The earnings per share (EPS) is forecasted to increase from 1.11 yuan in 2023 to 1.52 yuan in 2027, indicating a positive growth trend [1] Market Data - The closing price of the stock is currently at 27.66 yuan, with a market capitalization of approximately 676.79 billion yuan [5] - The price-to-earnings (P/E) ratio is projected to decrease from 24.84 in 2023 to 18.25 in 2027, suggesting an improving valuation over time [1] Operational Performance - In the first half of 2025, the company achieved a total revenue of 36,587 million yuan, a year-on-year increase of 5.02%, and a net profit of 12,984 million yuan, up 14.22% year-on-year [8] - The total power generation from the company's six hydropower stations reached approximately 1,266.56 billion kWh in the first half of 2025, marking a 5.01% increase compared to the previous year [8]

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Views - The company has committed to a cash dividend of no less than 70% of the net profit attributable to shareholders for the years 2026 to 2030, extending its dividend commitment for another five years [7] - The company has consistently exceeded its dividend commitments in the past, demonstrating strong shareholder return capabilities [7] - The operating cash flow for 2024 is projected to be approximately 60 billion, indicating sufficient funds for dividends and capital expenditures after covering interest expenses [7] - The company benefits from a declining LPR and interest rate environment, which significantly optimizes debt costs [7] - The company's six-level cascade scheduling enhances the stability of its power generation [7] - The company’s dividend yield of 3.41% is attractive compared to the 10-year government bond yield, indicating strong long-term investment value [7] - The profit forecast for 2025-2027 remains unchanged, with expected net profits of 35.56 billion, 38.70 billion, and 41.29 billion respectively, corresponding to PE ratios of 19, 17, and 16 [7] Financial Data and Profit Forecast - Total revenue is projected to grow from 84.49 billion in 2024 to 95.40 billion in 2027, with a compound annual growth rate of approximately 6.2% [6] - The net profit attributable to shareholders is expected to increase from 32.50 billion in 2024 to 41.29 billion in 2027, reflecting a growth rate of 9.4% in 2025 and 8.8% in 2026 [6] - The company’s gross margin is projected to improve from 59.1% in 2024 to 61.6% in 2027 [6]

Investment Rating - The report maintains an "Accumulate" rating for the company [3] Core Views - The company has announced a shareholder dividend return plan for 2026-2030, committing to a cash dividend of no less than 70% of the annual net profit attributable to shareholders [6][7] - The investment in the Gezhouba shipping expansion project, totaling 26.6 billion, is expected to have limited short-term impact on the company's performance and dividends, while contributing to long-term development and significant social benefits [6][7] - The company's revenue performance is stable, with expected revenue of 36.587 billion in H1 2025, reflecting a year-on-year growth of 5.02%, and a net profit of 12.984 billion, up 14.22% year-on-year [6][7] - The company is actively pursuing the development of pumped storage and renewable energy projects, which are anticipated to open new growth avenues [6][7] - Profit forecasts for 2025-2027 indicate net profits of 34.638 billion, 35.623 billion, and 36.300 billion respectively, with corresponding PE ratios of 19.5x, 19.0x, and 18.6x [6][7] Financial Data and Valuation - Total revenue for 2023 is projected at 78.112 billion, with a year-on-year growth of 50%, and a net profit of 27.239 billion, reflecting a 28% increase [2][9] - The company’s total assets are estimated to be 571.943 billion in 2023, with a debt-to-asset ratio of 62.9% [7][10] - The report highlights a stable cash flow from operating activities, with 64.719 billion expected in 2023 [8][10]

登录新浪财经APP 搜索【信披】查看更多考评等级 ■ 中国长江电力股份有限公司关于未来五年 （2026-2030年）股东分红回报规划的公告 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。 为进一步规范和完善中国长江电力股份有限公司（以下简称公司）的利润分配政策，建立科学、持续、 稳定的股东回报机制，维护中小股东的合法权益，根据《公司法》《上市公司监管指引第3号一上市公 司现金分红》（证监会公告〔2025〕5号）和《中国长江电力股份有限公司章程》（以下简称《公司章 程》）等相关文件规定，结合公司实际情况，公司董事会制定了《中国长江电力股份有限公司未来五年 （2026-2030年）股东分红回报规划》，具体内容如下： 一、公司制定本规划考虑的因素 公司着眼于长远、可持续的发展，综合考虑公司实际情况、发展战略规划以及行业发展趋势，建立对投 资者科学、持续、稳定的回报规划与机制，从而对利润分配做出系统性安排，以保证利润分配政策的连 续性和稳定性。 二、本规划的制定原则 本规划的制定应符合《公司章程》有关利润分配的相关条款，重视对股东的合 ...

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。 中国长江电力股份有限公司（以下简称公司）第六届董事会 第四十五次会议于 2025 年 8 月 14 日以现场方式召开。会议应到 董事 11 人，实到 8 人，委托出席 3 人，其中刘伟平董事、何红 心董事委托刘海波董事，黄德林董事委托李文中董事代为出席并 行使表决权，符合《公司法》和《公司章程》等有关规定。公司 部分高管列席了会议。会议由刘海波董事主持，以记名表决方式 通过《关于制定公司未来五年（2026-2030 年）股东分红回报规 划的议案》 股票代码：600900 股票简称：长江电力 公告编号：2025-037 中国长江电力股份有限公司 第六届董事会第四十五次会议决议公告 （www.sse.com.cn）的《中国长江电力股份有限公司关于未来五 年（2026-2030 年）股东分红回报规划的公告》。 表决结果：同意 11 票，反对 0 票，弃权 0 票。 特此公告。 中国长江电力股份有限公司董事会 ，并同意提请股东会审议。 同意公司对 2026 年至 2030 年每年度的利 ...

Key Points - Tianpu Co., Ltd. is planning a change in control, leading to a suspension of trading from August 15, 2025, for up to two trading days [2] - Chipsea Technology and Shunhao Co., Ltd. are preparing to issue H-shares and list on the Hong Kong Stock Exchange, with plans to consider shareholder interests and market conditions [3] - ST Suwu's stock closed at 0.99 yuan on August 14, 2025, which is below the 1 yuan threshold that could lead to delisting after 20 consecutive trading days [4] Financial Performance - Bubu Gao reported a revenue of 2.129 billion yuan for the first half of 2025, a year-on-year increase of 24.45%, with a net profit of 201 million yuan [6] - Kelun Electronics achieved a revenue of 2.573 billion yuan, up 34.66% year-on-year, with a net profit of 190 million yuan [6] - Limin Co., Ltd. reported a revenue of 2.452 billion yuan, a 6.69% increase, and a net profit of 269 million yuan, up 747.13% [6] - Zhongguang Fanglong reported a revenue of 217 million yuan, a 10.31% increase, and a net profit of 10.6787 million yuan, up 321.87% [6] - Chuanjin Nuo reported a revenue of 1.744 billion yuan, a 27.91% increase, and a net profit of 177 million yuan, up 166.51% [6] - Taicheng Light reported a revenue of 828 million yuan, a 62.49% increase, and a net profit of 173 million yuan, up 118.02% [7] - Huagong Technology reported a revenue of 7.629 billion yuan, a 44.66% increase, and a net profit of 911 million yuan, up 44.87% [8] - Yifan Pharmaceutical reported a revenue of 2.635 billion yuan, a slight increase of 0.11%, and a net profit of 304 million yuan, up 19.91% [8] - Xidian New Energy reported a revenue of approximately 1.39 billion yuan, a 65.90% increase, and a net profit of approximately 139 million yuan, up 51.66% [8] - China Telecom reported a revenue of 269.4 billion yuan, a 1.3% increase, and a net profit of 23 billion yuan, up 5.5% [9] Important Transactions - Kangda New Materials plans to acquire 51% of Chengdu Zhongke Huamei Electronics for 275.4 million yuan, aiming to expand in the semiconductor integrated circuit field [13] - Jingu Co., Ltd. signed a strategic cooperation agreement with Luming Robotics to explore new material applications in robotics [13] - Zhaowei Electromechanical plans to invest up to 100 million USD in a new production base in Thailand [13] - Zhongyuan Neipei's subsidiary received a notification to supply smart electric control actuators for a European engineering group, with a projected sales amount of approximately 490 million yuan over nine years [14] - Jiadian Co., Ltd. won a bid for nuclear power project equipment worth approximately 608.98 million yuan [14] - Shenzhen Airport reported a passenger throughput of 5.4352 million in July 2025, a 2.02% year-on-year increase [14] - Gansu Energy Chemical received approval to resume production at a coal mine after safety inspections [14]