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。 绿色动力环保集团股份有限公司（以下简称"公司"）董事会于 2025 年 4 月 10 日收到公司非执行董事刘曙光先生提交的书面辞职申请。刘曙光先生因个 人原因，申请辞去公司董事职务。刘曙光先生已向公司董事会确认，其与公司董 事会无不同意见，亦无任何有关其辞任或其他事项需提请公司股东、债权人注意。 | | | 绿色动力环保集团股份有限公司 关于公司董事辞职的公告 绿色动力环保集团股份有限公司董事会 2025 年 4 月 11 日 根据《公司法》《公司章程》相关规定，刘曙光先生的辞职不会对董事会正 常运作产生不利影响，不会导致公司董事会人数低于法定最低人数，其辞职申请 自送达董事会之日起生效，刘曙光先生担任的董事会战略委员会委员职务同时终 止，将不在公司担任任何职务。公司将尽快完成新任董事提名与选举程序，以达 到《公司章程》规定的董事会组成人数。 特此公告。 ...

Core Viewpoint - Green Power, a listed environmental company under Beijing State-owned Assets, has signed a strategic cooperation agreement with Gokai Technology to enhance technological collaboration in smart inspection robots, drones, and waste treatment processes [1][2][3] Group 1: Strategic Cooperation - The cooperation aims to explore technology in smart inspection robots, drone applications, smart park platform construction, and carbon reduction [2][3] - Both companies will work closely in the solid waste sector to develop new waste treatment processes and enhance project incubation in the environmental field [2][3][4] Group 2: Company Performance - As of the end of 2024, Green Power operates 37 waste incineration projects with a waste processing capacity of 40,300 tons per day and an installed capacity of 857 MW, ranking among the industry leaders [2][6][7] - In 2024, the company processed 14.38 million tons of household waste, a year-on-year increase of 6.96%, and achieved operational revenue of 2.964 billion yuan, up 8.02% year-on-year [2][7] Group 3: Technological Innovation - Green Power emphasizes technological development as a core strategy, with a focus on continuous innovation to improve the efficiency of waste incineration projects [6][7] - The company has developed a patented "multi-drive reverse-push mechanical grate furnace" technology, recognized as a leading incineration technology in the industry [6][7] Group 4: Financial Distribution - Green Power plans to distribute a cash dividend of 0.2 yuan per share, totaling 279 million yuan, which represents 71.45% of the net profit for 2024 [8]

Summary of Green Power's Conference Call Company Overview - Green Power is a significant player in the waste incineration power generation industry, with a strong backing from the Beijing State-owned Assets Supervision and Administration Commission (SASAC) [3][4][10] - The company focuses on waste incineration operations, with operational revenue close to 100% and construction business impact fully cleared as of 2024 [9][10] Key Points and Arguments Industry Trends - The waste incineration sector is experiencing two major trends: quality improvement and significant enhancement in dividend capabilities [5] - The sector aims to achieve high Return on Equity (ROE) levels similar to leading overseas companies like Waste Management, targeting over 25% ROE [5][8] - The overall capital expenditure in the domestic market has ended, leading to a focus on efficiency improvements, with potential for over threefold growth in PE and significant PB support [5] Financial Performance - Green Power's free cash flow improved significantly, quadrupling in 2024, with a dividend payout ratio raised to 70% [4][7][13][14] - The company reported a net operating cash flow of 1.4 billion yuan in 2024, a 47% year-on-year increase, with capital expenditures down by 79% [13] - The dividend payout doubled to 418 million yuan in 2024, reflecting the company's strong cash flow position [14] Strategic Initiatives - Green Power has entered strategic partnerships, such as with Solid High Technology for smart inspection robots, enhancing operational efficiency [4][21] - The company is expanding its B2B business, including heating supply to industrial enterprises and collaborations with Internet Data Centers (IDCs) [19] - Green Power has applied for 495,000 green certificates and sold 250,000, indicating a strong position in carbon trading as a future revenue source [20] Regional Focus - The company has a nationwide presence, with a focus on key regions like the Yangtze River Delta, Pearl River Delta, and Beijing-Tianjin-Hebei [11] - As of 2024, the operational scale reached 40,300 tons per day, with significant project capacities in Guangdong, Zhejiang, and Hubei [11][10] Future Growth Prospects - The company anticipates stable performance despite a projected decline in overall earnings for 2024, primarily due to reduced construction revenue [16] - Future growth is expected from increased capacity utilization and efficiency improvements, with a projected compound annual growth rate of 10% from 2024 to 2028 [17][18] - The shift from government-funded to polluter-pays models is expected to optimize the business model and enhance valuation [22] Additional Important Insights - The company has a robust history of over 20 years in the solid waste industry, with significant support from SASAC since 2005 [10] - The strategic focus on enhancing operational efficiency through technology and partnerships is expected to reduce reliance on fiscal subsidies and improve market valuation [8][22] - The company's commitment to high dividend payouts and cash flow management positions it favorably for long-term investment [4][14][22]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年3月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 綠色動力環保集團股份有限公司（備註） 呈交日期: 2025年4月7日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01330 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 404,359,792 | RMB | | 1 RMB | | 404,359,792 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 404,359,792 | RMB | | 1 RMB | | 404,359,792 | | 2. 股份分類 | 普通股 | 股份 ...

Core Viewpoint - The strategic cooperation agreement between Green Power and Gohigh Technology aims to enhance the application of technology in waste management, promoting modernization and the growth of emerging industries in line with national carbon reduction goals [1][2]. Group 1: Strategic Cooperation Details - The collaboration will focus on three main areas: technology research and development for industrial modernization, project incubation in the environmental sector, and deep business cooperation [2][3]. - In technology R&D, both companies will explore intelligent inspection robots, drones, smart park platform construction, and carbon reduction technologies to upgrade the waste incineration industry [1][2]. - The project incubation will utilize a "joint laboratory + industrial pilot platform" approach to accelerate the verification of new environmental technologies and shorten the industrialization cycle [2]. Group 2: Company Performance and Market Position - In 2024, Green Power reported an annual revenue of 3.399 billion yuan, a decrease of 14.08% year-on-year, primarily due to reduced PPP construction services [2]. - The waste treatment segment achieved revenue of 3.361 billion yuan, reflecting a year-on-year growth of 7.04% [2]. - As of December 31, 2024, the company operated 37 projects in the municipal waste incineration sector, with a waste processing capacity of 40,300 tons per day and an installed capacity of 857 MW, positioning it among the industry leaders [2]. Group 3: Technological Innovations and Collaborations - Green Power is actively pursuing technological innovation and expanding research cooperation channels, including partnerships with Alibaba Cloud for AI applications in waste incineration [3]. - Collaborations with institutions like China University of Mining and Technology focus on developing technologies for robot cleaning and confined space operations [3]. - The cooperation with Gohigh Technology is expected to enhance the operational intelligence of waste incineration projects, leading to improved efficiency [3].

一、 协议签订的基本情况 （一） 协议签署基本情况 绿色动力环保集团股份有限公司（以下简称"公司"或"甲方"）于2025 年4月3日在广东省东莞市与固高科技股份有限公司（以下简称"乙方"）签订 《战略合作协议》（以下简称"本协议"），以促进双方的共同发展和长远合 | 证券代码：601330 | 证券简称：绿色动力 公告编号：临 2025-015 | | --- | --- | | 转债代码：113054 | 转债简称：绿动转债 | 绿色动力环保集团股份有限公司 关于签订战略合作协议的公告 本公司董事会及全体董事除刘曙光外，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。 董事刘曙光因无法取得联系，对公告相关内容未出具意见。 重要内容提示： 整合双方优势资源，促进乙方技术装备应用到甲方厂区管理之中，有力推动产 业现代化，培育壮大新兴产业和未来产业。 （二） 合作内容 1、产业现代化有关技术研发合作 履约的风险与不确定性：本协议仅系双方经友好协商达成的初步意向，未经 公司董事会审议，针对本次合作的具体内容，将由双方进一步协商论证，以 及履行必要的决策和批 ...

Core Insights - Recent research by a well-known private equity firm, Ah Xing Investment, focused on a listed company, Green Power, highlighting various measures to enhance performance and profitability [1] Company Performance - Green Power has improved its performance through multiple strategies, including a decrease in environmental protection fees due to centralized procurement and refined management [1] - Material costs have risen due to increased costs of industrial solid waste acquisition [1] - Financial expenses are expected to continue declining due to long-term loan repayments and falling market interest rates [1] Financial Projections - The national subsidy repayment for 2024 is projected to be 372 million yuan, which is better than in 2023, with three new projects added to the national subsidy list [1] - By the end of 2024, national subsidies are expected to account for 34% of revenue, while waste treatment fees will account for 55% [1] - Capital expenditure for 2024 is set at 500 million yuan, with future capital expenditures expected to decrease [1] Debt and Dividend Policy - The company has a dividend payout ratio of 71%, with future dividends to be determined based on operational performance [1] - There are no plans to deliberately reduce the debt ratio, and the company will continue to engage in debt replacement [1] Operational Growth - The growth in waste treatment and power generation in 2024 is attributed to new project launches, successful waste expansion efforts, and refined management practices [1] - Measures to enhance capacity utilization include improving waste collection systems, expanding waste sources, and conducting collaborative disposal [1] Pricing and Market Strategy - The bidding price for competitive online projects is approximately 0.55 to 0.60 yuan per kWh [1] - Future adjustments to waste treatment fees are planned, gradually implementing the principle of producer responsibility [1] Business Expansion - The company is exploring the feasibility of collaboration between waste incineration power generation and IDC [1] - Plans to collaborate with state-owned enterprises for bidding on EPC projects in Malaysia are underway, alongside ongoing efforts to acquire quality projects [1] - There are currently no plans to lower the conversion price, with a focus on enhancing performance to stabilize dividend expectations [1]

Group 1 - The company Green Power is enhancing its performance and profitability through various measures, including a decrease in environmental protection fees due to centralized procurement and refined management [1] - Material costs are rising due to increased costs of obtaining industrial solid waste, while financial expenses are expected to continue decreasing due to long-term loan repayments and declining market interest rates [1] - The company anticipates receiving 372 million yuan in national subsidies in 2024, which is better than in 2023, with three new projects added to the national subsidy list [1] Group 2 - By the end of 2024, national subsidies are expected to account for 34% of revenue, while waste treatment fees will account for 55% [1] - The company's capital expenditure for 2024 is projected to be 500 million yuan, with future capital expenditures expected to continue decreasing [1] - The company has a dividend payout ratio of 71%, which will be determined based on operational performance in the future [1] Group 3 - The company is not planning to deliberately reduce its debt ratio and will continue to conduct debt replacement [1] - The growth in waste treatment and power generation in 2024 is attributed to the commissioning of new projects, expansion of waste sources, and refined management [1] - Measures to enhance capacity utilization include improving waste collection and transportation systems, expanding waste sources, and conducting collaborative disposal [1] Group 4 - The electricity price for competitive bidding projects is approximately between 0.55 yuan and 0.60 yuan per kWh [1] - The company plans to gradually implement the "polluter pays" principle for waste treatment fees in the Yongjia Phase I project [1] - The company is exploring the feasibility of a cooperation model between waste incineration power generation and IDC [1] Group 5 - The company intends to collaborate with state-owned enterprises to participate in the bidding for the Malaysia EPC project and will continue to seek acquisitions of quality projects [1] - There are currently no plans to lower the conversion price of bonds, with a focus on enhancing performance to stabilize dividend expectations [1]

Group 1 - Recently, Jinglin Asset conducted research on two listed companies: Yanhai Co. and Green Power [1][2] - Yanhai Co. focuses on producing lithium resources for electric vehicle batteries, supporting the development of the new energy vehicle sector [1] - Green Power has implemented various measures to enhance performance and profitability, including centralized procurement and refined management, leading to a decrease in environmental protection fees [2] Group 2 - Green Power anticipates a continued decline in financial expenses due to long-term loan repayments and falling market interest rates [2] - The company expects a national subsidy repayment of 372 million yuan in 2024, which is better than in 2023, with three new projects added to the subsidy list [2] - By the end of 2024, national subsidies are projected to account for 34% of revenue, while waste treatment fees will represent 55% [2] Group 3 - Green Power plans to reduce capital expenditures to 500 million yuan in 2024 and will continue to lower future capital expenditures [2] - The company maintains a dividend payout ratio of 71%, with future dividends to be determined based on operational performance [2] - Green Power is exploring collaboration with central enterprises for an EPC project bid in Malaysia and is actively seeking acquisitions of quality projects [2]

2025 年第一季度可转债转股结果暨股份变动公告 | | | 本公司董事会及全体董事除刘曙光外，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。 董事刘曙光因无法取得联系，对公告相关内容未出具意见。 绿色动力环保集团股份有限公司 重要内容提示： 一、可转债发行上市概况 经中国证监会《关于核准绿色动力环保集团股份有限公司公开发行可转换 公司债券的批复》（证监许可[2022]132号）核准，绿色动力环保集团股份有限 公司（以下简称"公司"）于2022年2月25日公开发行2,360万张可转债，每张 面值人民币100元，发行总额23.60亿元，票面利率：第一年0.20%、第二年 累计转股情况：截至 2025 年 3 月 31 日，累计已有 126,000 元"绿动转债" 转换成公司 A 股普通股，累计转股数为 12,937 股，占可转换公司债券（以 下简称"可转债"）转股前公司已发行股份总额的 0.0009%。 未转股可转债情况：截至 2025 年 3 月 31 日，尚未转股的可转债金额为 2,359,874,000 元，占可转债发行总量的 99.9947% ...