证券代码： 600995 证券简称：南网储能 南方电网储能股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------|---------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系活动 | √ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 □ | 业绩说明会 | | | □ 新闻发布会 □ | 路演活动 | | | □ 现场参观 □ 其他 （ ） | | | 参与单位名称 | 新加坡政府投资公司（GIC） | | | 时间 | 2024 年 12 月 4 日 | | | 地点 | 电话会议 | | | 上市公司接 ...

证券代码： 600995 证券简称：南网储能 南方电网储能股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------|--------------------------------|-----------------------------------------------------------| | | | | | 投资者关系活动 | □ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 □ | 业绩说明会 | | | □ 新闻发布会 □ □ 现场参观 | 路演活动 | | | √ 其他 | （"我是股东"投教活动之走进南网储能） | | 参与单位名称 | 国海证券、全景网及投资者共 | 48 人 | | 时间 | 2024 年 11 月 29 日 | | | 地点 | 公司所属深圳抽水蓄能电站 | | | 上市公司接待人 员姓名 | 董事会秘书钟林 | | | | | 一、"我是股东"投资者走进南网储能活动主要安排如下： | | | 1 | 、投资者现场参观深圳抽水蓄能电站； | | | 2 | 、国海证券介绍储能行业发 ...

每股分配比例 A 股每股现金红利 0.03919 元 证券代码：600995 证券简称：南网储能 编号：2024-59 南方电网储能股份有限公司 2024 年半年度 权益分派实施公告 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： 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2024/12/5 | － | 2024/12/6 | 2024/12/6 | 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司 2024 年 11 月 15 日的 2024 年第三次临时股东大会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本 3,196,005,805 股为基数，每股派发现金红利 ...

证券代码：600995 证券简称：南网储能 公告编号：2024-60 南方电网储能股份有限公司 关于控股股东向公司提供财务资助的公告 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。 2024 年 11 月 27 日，南方电网储能股份有限公司（以下简称 "公司"）控股股东中国南方电网有限责任公司（以下简称"南方 电网公司"）成功发行 2024 年度第十三期短期融资券，票面年利率 为 1.91%，期限为 355 日。 为支持公司的生产经营与发展，南方电网公司于 2024 年 11 月 28 日以借款形式向公司提供 5 亿元人民币的财务资助，借款期限为 355 日。公司按短期融资券票面年利率 1.91%，到期后一次性还本付 息。公司拟将该笔款项用于补充日常营运资金。 本次财务资助构成关联交易。由于公司本次付息利率不高于贷 款市场报价利率（中国人民银行 2024 年 11 月 20 日发布的 1 年期贷 款市场报价利率为 3.1%），且无需公司提供保证、抵押、质押等任 何形式的担保，亦无其他协议安排，根据《上海证券交易所股票上 市规则 ...

Investment Rating - The report assigns an "Outperform" rating for the company [2][7]. Core Views - Increased water supply has boosted profits, and the impact of capacity price adjustments has been eliminated. For the first three quarters of 2023, revenue reached 4.519 billion, a year-on-year increase of 11.12%, with net profit attributable to the parent company at 1.045 billion, up 27.62% year-on-year. In Q3 alone, revenue was 1.608 billion, reflecting a 33.33% year-on-year increase, and net profit was 419 million, a significant increase of 231.49% year-on-year, primarily due to increased water supply at peak regulation hydropower plants [5][6]. - The company has a robust project pipeline in pumped storage, with installed capacity remaining stable at 10.28 million kilowatts as of Q3 2024. Revenue from pumped storage for the first three quarters was 3.08 billion, a slight decrease of 0.39% year-on-year, with a unit revenue of approximately 400 yuan per kilowatt [5][10]. - The new storage projects are benefiting from the commissioning of new power stations, with installed capacity for new storage reaching 423,800 kilowatts, a year-on-year increase of 282%. Revenue from new storage for the first three quarters was 209 million, up 210% year-on-year [6][10]. Summary by Sections Financial Performance - For the first three quarters of 2023, the company reported revenue of 4.519 billion, a year-on-year increase of 11.12%, and a net profit of 1.045 billion, up 27.62% year-on-year. Q3 revenue was 1.608 billion, with a net profit of 419 million, marking a year-on-year increase of 231.49% [5][6]. - The company forecasts net profits of 1.312 billion, 1.454 billion, and 1.775 billion for 2024, 2025, and 2026, respectively, with corresponding EPS of 0.41, 0.45, and 0.56 [7][8]. Revenue Projections - The report estimates revenues for pumped storage to be 4.112 billion, 4.352 billion, and 5.192 billion for 2024, 2025, and 2026, respectively, with a projected year-on-year growth of 5.84% in 2025 and 19.30% in 2026 [12]. - New storage revenue is projected to grow significantly, with estimates of 263 million, 355 million, and 479 million for 2024, 2025, and 2026, reflecting year-on-year growth rates of 182.8% and 35% for the following years [12]. Market Comparison - The company is compared with peers, showing a projected PE ratio of 35-40 times for 2024, indicating a fair value range of 14.37 to 16.43 yuan per share [7][14].

证券代码：600995 证券简称：南网储能 编号：2024-58 南方电网储能股份有限公司 关于归还用于暂时补充流动资金的募集资金的公告 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。 使用期限内，公司实际使用暂时闲置募集资金 132,000.00 万元 用于暂时补充流动资金，并分别于 2024 年 9 月 18 日、11 月 14 日归 还 30,000.00 万元、102,000.00 万元至募集资金专户。截至本公告 披露日，上述用于暂时补充流动资金的募集资金 132,000.00 万元已 全部归还至募集资金专户。公司对用于暂时补充流动资金的募集资金 进行了合理安排和使用，资金运用情况良好，未超过使用期限，未影 响募集资金投资项目的正常进行。公司已及时将上述募集资金的归还 情况告知公司独立财务顾问中国国际金融股份有限公司。 特此公告。 1 南方电网储能股份有限公司董事会 2024 年 11 月 16 日 2 2023 年 11 月 27 日,南方电网储能股份有限公司（以下简称"公 司"）召开第八届董事会第十三次会议和第八届 ...

北京浩天律师事务所（以下简称"本所"）受南方电网储能股份有限公司（以下简 称"南网储能"或"公司"）委托，指派律师出席南网储能 2024 年第三次临时股东大会（以 下简称"本次股东大会"或"本次会议"），并就本次股东大会的召集、召开程序、 召集人和出席会议人员资格、表决程序、表决结果的有效性及合法性等事项发表法律 意见。 本所依据《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》"）、《上市公司股东大会规则（2022 年修订）》 （以下简称"《股东大会规则》"）、《中国证券登记结算有限责任公司上市公司股东 大会网络投票业务实施细则》《上海证券交易所上市公司自律监管指引第 1 号—规范 运作》及中华人民共和国其他相关法律、法规、规章及规范性文件（以下简称"中国法 律"）以及南网储能《公司章程》之规定，出具本法律意见书。 北京浩天律师事务所 关于南方电网储能股份有限公司 2024 年第三次临时股东大会之法律意见书 致：南方电网储能股份有限公司 9、本次股东大会其他会议文件。 本所律师得到如下保证：公司已提供本所律师认为出具本法律意见书所必需的材 料，所提供的原始材 ...

证券代码：600995 证券简称：南网储能 编号：2024-57 南方电网储能股份有限公司 2024 年第三次临时股东大会决议公告 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 二、 议案审议情况 (一) 非累积投票议案 1、 议案名称：关于《公司 2024 年半年度利润分配方案》的议案 审议结果：通过 表决情况： | 1、出席会议的股东和代理人人数 | 414 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 2,413,140,550 | | 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（%） | 75.5048 | (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。 会议由公司董事长刘国刚主持，会议采取现场投票与网络投票相结合的方式 进行表决，会议召开及表决的方式符合《公司法》和《公司章程》等有关规定。 (五) 公司董事、监事和董事会秘书的出席情况 (一) ...

Investment Rating - The report maintains an "Outperform the Market" rating for the company [4][15]. Core Views - The company experienced a significant increase in net profit due to improved water inflow and rapid development of new energy storage business, with a year-on-year growth of 27.6% in net profit for the first three quarters of 2024 [1][5]. - Revenue for the first three quarters of 2024 reached 4.519 billion yuan, a year-on-year increase of 11.12%, driven by increased hydropower generation and the commissioning of the Foshan Baotang energy storage station [1][5]. - The new energy storage business saw a remarkable growth of 209.53% year-on-year, attributed to the operational capacity increase to 423,800 kW [2][14]. Summary by Sections Financial Performance - In the first three quarters of 2024, the company achieved a net profit attributable to shareholders of 1.045 billion yuan, up 27.62% year-on-year, with a non-recurring net profit of 1.058 billion yuan, reflecting a 29.23% increase [1][5]. - The third quarter alone saw a net profit of 419 million yuan, a quarter-on-quarter increase of 22.88% and a year-on-year increase of 231.49% [1][5]. Revenue Breakdown - The revenue from pumped storage business was 3.084 billion yuan, a slight decline of 0.39% year-on-year due to policy-related revenue reductions [2][14]. - The revenue from peak regulation hydropower business increased by 37.56% year-on-year to 1.199 billion yuan, driven by improved water inflow and a total generation of 6.21 billion kWh, up 43.85% year-on-year [2][14]. - The new energy storage business generated 209 million yuan, marking a 209.53% increase year-on-year due to the commissioning of the Foshan Baotang energy storage station [2][14]. Future Outlook - The company has initiated its first independent participation in the electricity market with its Meizhou pumped storage power station, which is expected to enhance profitability as market reforms progress [2][14]. - The company plans to increase its pumped storage capacity significantly, with projections to reach 2.9 million kW by 2030 and 4.4 million kW by 2035 [14]. Valuation Metrics - The report projects net profits for 2024-2026 at 1.312 billion, 1.629 billion, and 2.007 billion yuan respectively, with corresponding year-on-year growth rates of 29.4%, 24.2%, and 23.2% [4][15]. - The current price-to-earnings (PE) ratios are projected at 36, 21, and 17 for the years 2024, 2025, and 2026 respectively [4][15].

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2][5][8]. Core Views - The company has demonstrated significant growth in Q3 2024, with a revenue increase of 33.3% year-on-year, reaching 1.61 billion yuan, and a remarkable net profit growth of 231%, amounting to 420 million yuan [2][5]. - The increase in performance is attributed to a substantial rise in water inflow for peak regulation hydropower plants, leading to a 130.7% increase in power generation [2][5]. - The company is actively expanding its capacity with 10.8 million kilowatts of pumped storage projects under construction, indicating strong long-term growth potential [2][5]. Summary by Sections Financial Performance - In Q3 2024, the company's net profit margin improved to 31.2%, an increase of 18.1 percentage points year-on-year, primarily due to the surge in peak regulation hydropower performance [2][5]. - The gross profit margin also increased by 13.5 percentage points to 52.9% [2][5]. Revenue and Profit Forecast - The projected revenues for 2024, 2025, and 2026 are 5.955 billion yuan, 6.731 billion yuan, and 8.049 billion yuan, respectively, with growth rates of 6%, 13%, and 20% [6][8]. - The expected net profits for the same years are 1.192 billion yuan, 1.365 billion yuan, and 1.688 billion yuan, reflecting year-on-year growth rates of 18%, 15%, and 24% [6][8]. Market Position - The company's stock is currently priced at 11.38 yuan, with a market capitalization of approximately 36.37 billion yuan [2][5]. - The company has a total share capital of 319.6 million shares [1].