中国长江电力股份有限公司 高级管理人员任期制和契约化管理办法 第一章 总则 第一条 为贯彻落实党中央、国务院关于建立健全市场化经 营机制、激发企业活力的决策部署，建立健全以任期制和契约化 管理为核心的新型经营责任制，进一步加强和完善经理层成员任 期制和契约化管理，中国长江电力股份有限公司（以下简称公司） 按照《关于深化国有企业改革的指导意见》《国有企业改革深化 提升行动方案（2023-2025 年）》《关于加大力度推行经理层成 员任期制和契约化管理有关事项的通知》（国企改办发〔2021〕 7 号）、《经理层成员任期制和契约化管理契约文本操作要点》 （国企改办发〔2022〕6 号）等文件精神以及中国长江三峡集团 有限公司关于任期制和契约化管理有关规定，结合公司实际，制 定本办法。 第二条 本办法所称高级管理人员任期制和契约化管理，是 指对公司总经理、副总经理、财务负责人、技术负责人、董事会 秘书、总法律顾问等高级管理人员实行的，以固定任期和契约关 系为基础，根据合同或协议约定开展年度和任期考核，并根据考 核结果兑现薪酬和实施聘任（或解聘）的管理方式。 第三条 公司高级管理人员任期制和契约化管理遵循以下基 本原则 ...

中国长江电力股份有限公司2025 年半年度报告 公司代码：600900 公司简称：长江电力 中国长江电力股份有限公司 2025 年半年度报告 1 / 196 中国长江电力股份有限公司2025 年半年度报告 重要提示 三、 本半年度报告未经审计。 四、 公司负责人刘伟平、主管会计工作负责人张传红及会计机构负责人（会计主管人员）张娜 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 本报告期无利润分配预案及公积金转增股本预案。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质性承诺，请 投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 未出席董事情况 | 未出席董事职务 | 未出席董事姓名 | 未出席董事的原因说明 | 被委托人姓名 | | --- | --- | --- | --- | | 董事 ...

股票代码：600900 股票简称：长江电力 公告编号：2025-043 中国长江电力股份有限公司 关于调整副总经理的公告 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。 2025 年 8 月 28 日，中国长江电力股份有限公司第六届董事会第 四十六次会议，审议通过《关于调整公司副总经理的议案》，同意聘 任段开林先生、林峰先生为公司副总经理。因工作调动，谢俊先生、 冉毅川先生不再担任公司副总经理，其中谢俊先生不继续在公司任职， 冉毅川先生改任公司首席专业师。 截至本公告日，谢俊先生、冉毅川先生未持有公司股票，不存在 未履行完毕的公开承诺。 谢俊先生、冉毅川先生在担任公司副总经理期间恪尽职守、勤勉 尽责，公司董事会对谢俊先生、冉毅川先生在任职期间为公司发展作 出的重要贡献表示衷心感谢！ 特此公告。 附件：段开林先生、林峰先生简历 中国长江电力股份有限公司董事会 1 附件 段开林先生、林峰先生简历 1.段开林，男，1973 年 9 月出生，工程硕士，正高级工程师， 中共党员。历任中国长江电力股份有限公司三峡电厂机械水工维修部 副主 ...

关于三峡财务有限责任公司的风险持续评估报告 根据《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，中国长江电力股份有限公司（以 下称公司）通过核查三峡财务有限责任公司（以下称三峡财 务公司）金融许可证、营业执照等证照及2025半年度财务报 表，对三峡财务公司的经营资质、业务和风险状况进行了评 估，现将有关风险持续评估情况报告如下： 一、三峡财务公司基本情况 三峡财务公司是中国长江三峡集团有限公司（以下简称 中国三峡集团）下属二级公司，于1997年经中国人民银行批 准设立，是专门服务于中国三峡集团及成员单位的非银行金 融机构。 注册资本金：75亿元人民币 注册地址：北京市海淀区玉渊潭南路1号楼3层302 法定代表人：刘忠庆 金融许可证机构编码：L0056H24205001 统一社会信用代码：91110000179100676E 经营范围：吸收成员单位存款；办理成员单位贷款；办 理成员单位票据贴现；办理成员单位资金结算与收付；提供 成员单位委托贷款、债券承销、非融资性保函、财务顾问、 信用鉴证及咨询代理业务；从事同业拆借；办理成员单位票 据承兑；办理成员单位产品买方信贷；从事固定收益类有价 ...

| 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-08-29 | 长江电力 | 600900 | 28.06 471.41 | 16.8 | 平安证券股份有限 | 平安证券股份有限 | | | | | | | | 公司宁波海晏北路 | 公司宁波海晏北路 | | | | | | | | 3 mg 246 the 11, 407 | Any 246 122 11, 447 | | 8月29日，长江电力大宗交易成交16.8万股，成交额471.41万元，占当日总成交额的0.16%，成交价28.06元，较市场收盘价28.09元折价0.11%。 ...

Market Overview - The electricity sector experienced a slight decline of 0.05% on the trading day, with Huayin Power leading the drop [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Stock Performance - Notable gainers in the electricity sector included: - Hengtong Optic-Electric (600226) with a closing price of 3.69, up 10.15% and a trading volume of 1.8086 million shares, totaling 635 million yuan [1] - Yunnan Energy Investment (002053) closed at 6671, up 9.98% with a trading volume of 806,200 shares, totaling 1.17 billion yuan [1] - Zhaoxin Co., Ltd. (002256) closed at 3.22, up 9.90% with a trading volume of 322,000 shares, totaling 10.4 million yuan [1] - Conversely, Huayin Power (600744) saw a significant decline, closing at 7.81, down 5.79% with a trading volume of 1.9708 million shares, totaling 156.1 million yuan [2] - Other notable decliners included: - ST Lingda (300125) down 4.88% [2] - Banshen Energy (600726) down 3.45% [2] Capital Flow - The electricity sector experienced a net outflow of 2.928 billion yuan from institutional investors, while retail investors saw a net inflow of 1.885 billion yuan [2] - The capital flow for key stocks included: - Shanghai Electric (600021) had a net inflow of 214 million yuan from institutional investors, but a net outflow of 113 million yuan from retail investors [3] - Hengtong Optic-Electric (600226) saw a net inflow of 114 million yuan from institutional investors, with a net outflow of 57.6 million yuan from retail investors [3]

Key Insights - The report highlights a selection of recommended stocks across various industries for September 2025, emphasizing their potential for performance improvement based on specific investment logic [1][2]. Banking Sector - Ningbo Bank (002142.SZ) is expected to see a performance turnaround with signs of improvement in net interest margin and a potential clearing of retail non-performing loans. The company's valuation is currently low, lacking management premium, which may lead to a recovery as fundamentals improve [1]. Light Industry - Yutong Technology (002831.SZ) shows stable business performance with growth in consumer electronics packaging and new clients in the trendy toy and AI sectors. The company reported a 7% revenue increase and an 11% profit increase in H1 2025, with an expected revenue growth rate of 10% after excluding the impact of divestitures [1]. Electronics Sector - Semiconductor manufacturer SMIC (0981.HK) exceeded revenue and gross margin guidance in Q2, with capacity utilization reaching 92.5%, the highest since Q3 2022. A further revenue growth of 5%-7% is anticipated in Q3, benefiting from the growth of domestic chip design companies and the trend towards localized chip manufacturing [1]. Telecommunications - ZTE Corporation (000063.SZ), a leading domestic telecommunications equipment provider, is expected to benefit from AI development and potential breakthroughs in chip technology, which may enhance future profitability [1]. Automotive Sector - Aikodi (600933.SH) is projected to perform well in Q2, with significant acquisitions nearing completion and strong order flow in traditional business areas. The company's robotics strategy is becoming clearer, indicating a positive outlook [1]. Utilities and Environmental Protection - Changjiang Electric Power (600900.SH) has implemented a high dividend policy with a 70% payout ratio, supported by major shareholder confidence through substantial share buybacks. The current dividend yield of 3.37% exceeds the 10-year government bond yield by 160 basis points [1]. Textile and Apparel - Huali Group (300979.SZ) faced a decline in performance due to significant price corrections and tariff uncertainties. However, with the new factory ramp-up and tariff resolutions, the company is expected to see improved performance in the latter half of the year [1]. Non-Banking Financials - Dongfang Securities (600958.SH) reported significant revenue growth in Q1 across various segments, with investment and brokerage services being the main contributors. The strategic focus on "big wealth, big investment banking, and big institutions" is expected to continue driving growth [1]. Internet Sector - Tencent Holdings (0700.HK) demonstrates stable performance with substantial growth potential, particularly in WeChat e-commerce and AI applications, which are not fully reflected in current profit forecasts. The company's ecosystem advantages position it well for the AI era [1]. - Kuaishou (1024.HK) also shows steady performance, with AI enhancing its core business and advertising efficiency. The company has successfully commercialized AI video products, achieving an annualized revenue of $125 million [1].

Group 1 - The new Shanghai Composite Index (000017) increased by 1.14%, closing at 3248.65 points with a trading volume of 12446.83 billion [1] - The new Shanghai Composite Index has risen by 5.76% in the past month, 13.78% in the past three months, and 13.41% year-to-date [1] - The index is composed of stocks and depositary receipts that have completed the shareholding reform and is weighted by total share capital, with a base date of December 30, 2005, set at 1000.0 points [1] Group 2 - The top ten weighted stocks in the new Shanghai Composite Index include Agricultural Bank (3.8%), Industrial and Commercial Bank (3.34%), Kweichow Moutai (3.04%), China Petroleum (2.34%), and China Bank (2.22%) [1] - The index is fully composed of stocks listed on the Shanghai Stock Exchange, with a market sector distribution showing finance at 25.97%, industrial at 18.26%, and information technology at 13.17% [2] - Stocks are included in the index based on their average total market capitalization ranking in the top 10 of the Shanghai market after three months of listing, with other stocks included after one year [2]

Group 1 - The Shanghai Composite Index opened lower but rose, with the CSI 300 Index increasing by 1.77% to 4463.78 points, and a trading volume of 739.42 billion yuan [1] - The CSI 300 Index has risen by 6.27% in the past month, 14.24% in the past three months, and 11.47% year-to-date [1] - The CSI 300 Index consists of 300 representative securities from the Shanghai and Shenzhen markets, reflecting the overall performance of listed companies [1] Group 2 - The top ten weighted stocks in the CSI 300 Index are: Kweichow Moutai (3.91%), CATL (3.16%), Ping An Insurance (2.71%), China Merchants Bank (2.29%), Industrial Bank (1.61%), Zijin Mining (1.59%), Midea Group (1.54%), East Money Information (1.48%), Yangtze Power (1.47%), and Newray (1.31%) [1] - The market capitalization distribution of the CSI 300 Index shows that the Shanghai Stock Exchange accounts for 64.65% and the Shenzhen Stock Exchange accounts for 35.35% [1] Group 3 - In terms of industry composition within the CSI 300 Index, finance accounts for 24.63%, industrials for 16.91%, information technology for 15.64%, consumer staples for 9.23%, materials for 7.87%, consumer discretionary for 7.55%, healthcare for 6.14%, communication services for 5.92%, utilities for 3.11%, energy for 2.32%, and real estate for 0.68% [2]

Group 1 - On August 26, Changjiang Electric Power executed a block trade of 352,000 shares, with a transaction value of 9.9722 million yuan, accounting for 0.31% of the total transaction value for that day [1] - The transaction price was 28.33 yuan, which represents a premium of 0.07% compared to the market closing price of 28.31 yuan [1]