Core Viewpoint - The company SANY Heavy Energy has announced a differentiated cash dividend distribution plan, with a cash dividend of 0.60 yuan per share (before tax) for shareholders [1][4]. Dividend Distribution Plan - The company will distribute a cash dividend of 6.00 yuan (including tax) for every 10 shares held, with no stock dividends or capital reserve transfers [2]. - The total cash dividend amount to be distributed is approximately 731.83 million yuan (including tax), based on the actual number of shares participating in the distribution [3][4]. - The cash dividend will be distributed to shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on the record date [1][5]. Shareholder Rights and Taxation - Shares held in the company's repurchase special account will not participate in the profit distribution [2][5]. - For individual shareholders holding shares for more than one year, the cash dividend income is exempt from personal income tax, while those holding for one year or less will have tax calculated upon transfer of the shares [6][7]. - For qualified foreign institutional investors (QFII), a 10% corporate income tax will be withheld from the dividends, resulting in a net cash dividend of 0.54 yuan per share [8]. Important Dates - The record date, ex-dividend date, and cash dividend payment date are specified but not detailed in the provided content [4].

一、本次差异化分红的原因 根据公司 2024 年年度股东大会审议通过的《关于公司 2024 年度利润分配方 案的议案》，公司拟以实施权益分派股权登记日登记的公司总股本扣减公司回购 专用证券账户中股份为基数，向全体股东每 10 股派发现金红利 6.00 元（含税）。 公司不送红股，不进行资本公积转增股本。如公司总股本发生变动，公司拟维持 每股分配比例不变，相应调整分配总额。 中信证券股份有限公司 关于三一重能股份有限公司 差异化分红事项的核查意见 中信证券股份有限公司（以下简称"中信证券"）作为三一重能股份有限公司 （以下简称"三一重能"或"公司"）首次公开发行股票并在科创板上市及持续督导 的保荐机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板 股票上市规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》 等有关法律法规和规范性文件的要求，就三一重能 2024 年度利润分配所涉及差 异化分红事项进行了审慎核查，具体情况如下： 2024 年 1 月 16 日，公司召开第一届董事会第五十三次会议，审议通过了《关 于以集中竞价交易方式回购公司股份方案的议案》,同意公司使用不低于人民币 1 ...

2024年年度权益分派实施公告 证券代码：688349 证券简称：三一重能 公告编号：2025-044 三一重能股份有限公司 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 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 （三一重能股份有限公司回购专用证券账户除外）。 1 每股现金红利0.60元（税前） 相关日期 | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/6/13 | 2025/6/16 | 2025/6/16 | 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三一重能股份有限公司（以下简称"公司"）2025 年 5 月 23 日的2024年年度股东大会审议通过。 二、 分配方案 1. 发放年度：2024年年度 2. 分派对象： 公司存在首发战略配售股份，首发战略配售股份已全部上市流通 是否涉及差异化分红送转：是 每股分配比例 根据《中 ...

Summary of SANY Renewable Energy Conference Call Company Overview - **Company**: SANY Renewable Energy - **Year**: 2024 - **Revenue**: 17.792 billion CNY, up 19.1% year-on-year [2][4] - **Net Profit**: 1.812 billion CNY, down 9.7% year-on-year due to reduced subsidies and financial policy adjustments [2][4] - **Total Assets**: 41.403 billion CNY, up 24.05% from the beginning of the year [4] - **Debt Ratio**: 66.85% [2][4] Key Financial Metrics - **Wind Turbine Revenue**: 13.579 billion CNY, with a gross margin of 16.9%, up 3.28 percentage points [2][12] - **Operating Cash Flow**: -400 million CNY [2][13] - **R&D Investment**: 777 million CNY, accounting for 4.37% of revenue [2][5] - **Sales Volume**: 9.53 GW, with a year-on-year increase of 37% [3][14] Industry Insights - **Wind Power Installations**: - New installations in 2024: 79.34 GW, up 4.53% year-on-year [2][7] - Cumulative installations: 521 GW, up 18% [2][7] - Public market bidding volume: 164.22 GW, over 50% increase year-on-year [2][7] - **Global Wind Energy Growth**: Projected compound annual growth rate of 8.8%, with total installations expected to reach 981 GW from 2025 to 2030 [2][7][21] Market Performance - **Domestic Market Share**: Increased to 10.52%, up 1.18 percentage points [3][8] - **New Orders**: Over 20 GW, with backlog exceeding 24 GW [3][8] - **International Orders**: Significant progress in global strategy with contracts in India, Kazakhstan, Philippines, and Germany [3][9] R&D and Product Development - **New Products**: Successful delivery of 10 MW and 15 MW land-based wind turbines; development of offshore models ranging from 8 to 16 MW [2][5] - **Innovations**: Launched the world's largest 35 MW wind turbine test platform [2][5] Environmental and Sustainability Efforts - **CO2 Reduction**: Generated approximately 135.8 billion kWh, reducing CO2 emissions by 72.87 million tons [3][10] - **ESG Recognition**: Awarded Equities Silver Certification, with the Shaoshan blade factory recognized as the world's first lighthouse factory [3][10] Future Outlook - **2025 Revenue Forecast**: Expected to reach 21.87 billion CNY, up 26.58% year-on-year [3][14] - **Market Trends**: Anticipated price stabilization and increase of 5-10% in the first quarter of 2025 [2][16] - **Long-term Projections**: Continued growth in wind power installations, with a focus on offshore and land-based projects [29][30] Strategic Initiatives - **Global Expansion**: Focus on localizing production in international markets and enhancing marketing capabilities [3][9][18] - **Sustainable Development**: Commitment to high-quality development and digital transformation [3][14][28] Conclusion SANY Renewable Energy is positioned for growth in the wind energy sector, with strong financial performance, innovative product development, and a commitment to sustainability. The company is actively expanding its market presence both domestically and internationally, while maintaining a focus on research and development to enhance its competitive edge.

Core Viewpoint - SANY Renewable Energy's profitability is under short-term pressure due to intensified competition and declining wind turbine prices, but medium to long-term prospects are optimistic with expected price recovery and accelerated overseas market expansion [1][2]. Financial Performance - In 2024, SANY Renewable Energy achieved operating revenue of 17.792 billion yuan, a year-on-year increase of 19.10%, while net profit attributable to shareholders decreased by 9.70% to 1.812 billion yuan [1]. - In Q1 2025, the company reported operating revenue of 2.187 billion yuan, a year-on-year increase of 26.58%, but net profit turned from profit to loss compared to the previous year [1]. Wind Turbine Price Trends - Wind turbine prices have shown signs of recovery since Q4 of the previous year, with bidding prices in the first four months of this year rising by 5%-10% compared to the previous year [2]. - The industry is moving away from low-price bidding towards valuing product quality and overall cost-effectiveness, influenced by the implementation of the "136 Policy" aimed at promoting high-quality development in renewable energy [2]. Cost Reduction Strategies - Future cost reductions in wind turbine production are expected due to industry synergy, scale effects, and technological advancements [3]. - The company plans to enhance profitability through brand strength, improved sales structure, and quality management [3]. Overseas Market Expansion - 2024 is projected to be a breakthrough year for SANY Renewable Energy's overseas wind turbine business, with expectations for increased order volumes in 2025 [4]. - The global wind energy market is forecasted to grow at a compound annual growth rate of 8.8%, with significant contributions from China's wind energy exports [4]. Competitive Advantages - Chinese wind turbine brands are strengthening their competitiveness overseas due to cost advantages and delivery efficiency [5]. - The overseas market is still in its early stages, with low penetration rates, allowing for growth without significant price competition [5]. Production Capacity Development - SANY Renewable Energy is expanding its overseas production capacity, with ongoing projects in India and Kazakhstan [5]. - The company aims to establish manufacturing bases for offshore wind power and targets over 1 GW of new offshore wind orders by 2025 [6].

Core Viewpoint - SANY Renewable Energy is focusing on expanding its overseas market presence and expects significant growth in overseas orders and profit margins in the coming years [1][2][3] Group 1: Overseas Market Expansion - The company has made substantial progress in overseas markets, securing nearly 2GW of wind power orders and project development rights in regions like Serbia and Central Asia [1] - In Q1 2025, the company aims for a significant increase in overseas order acquisition compared to 2024, driven by a low sales base in 2024 [2] - The company has established subsidiaries in multiple countries, including the UAE, South Africa, Brazil, and Germany, to enhance its global footprint [1] Group 2: Financial Performance - In 2024, the company reported revenue of 17.792 billion yuan, a year-on-year increase of 19.1%, while net profit decreased by 9.7% to 1.812 billion yuan [3] - For Q1 2025, the company achieved revenue of 2.187 billion yuan, a year-on-year growth of 26.58%, but reported a net loss of 191 million yuan [4] - The loss in Q1 2025 was attributed to the absence of power station product sales, lower profit margins from previously secured orders, and the seasonal nature of the wind power industry [4] Group 3: Profit Margin Outlook - The company anticipates a continuous improvement in profit margins over the next two years, with overseas product margins expected to be at least 10 percentage points higher than domestic margins [2][3] - The execution of a self-discipline agreement among domestic wind turbine manufacturers has led to a gradual recovery in bidding prices since Q4 2024, which is expected to enhance profitability [3][4] - The company is also focusing on cost reduction strategies to improve margins, despite some components having limited cost-cutting potential [4]

Core Insights - SANY Renewable Energy Co., Ltd. released its third Environmental, Social, and Governance (ESG) report, detailing sustainability strategies, policies, actions, and achievements for the year 2024 [1][2] - The company aims to become a global leader in clean energy equipment supply and services, focusing on green development, talent cultivation, excellent quality, and business integrity [3][4] Company Overview - Founded in 2008, SANY Renewable Energy is listed on the STAR Market of the Shanghai Stock Exchange since June 22, 2022, and ranks sixth among global wind turbine manufacturers [3][4] - The company specializes in R&D, manufacturing, and sales of wind turbines, as well as the design, construction, and operation management of wind farms [3][4] Sustainability Strategies - The company has established a sustainability framework centered on four strategic pillars: green development, talent cultivation, excellent quality, and business integrity [4][5] - SANY Renewable Energy is committed to achieving science-based carbon targets and has secured Ecovadis silver certification [2][3] Environmental Management - The company emphasizes ecological preservation through green and low-carbon operations, actively managing its environmental impact [12] - SANY Renewable Energy adheres to various environmental laws and regulations, including the Environmental Protection Law of the People's Republic of China [12] Economic Performance - Total assets of SANY Renewable Energy reached RMB 41,403 million, with a revenue of RMB 17,792 million and a net profit attributable to the parent company of RMB 1,812 million [3][4] - The company has invested RMB 777 million in R&D, representing 4.37% of its revenue, and has cumulatively generated 135.8 billion kWh of electricity [4][5] Social Performance - The company has updated its labor and human rights protection policies, achieving zero incidents of child labor, forced labor, harassment, and discrimination [3][5] - Employee satisfaction is reported at over 90%, with 100% training coverage for employees [5] Governance Structure - SANY Renewable Energy has a three-tier ESG governance structure, with the Board of Directors overseeing sustainability initiatives through the Strategy and Sustainability Committee [6][7] - The company engages with stakeholders to understand their expectations and feedback regarding ESG initiatives [6][7] Materiality Assessment - The company conducted a double materiality assessment, identifying 20 sustainability-related issues with high relevance, including R&D and innovation, response to climate change, and opportunities from clean technologies [8][9] - The assessment integrates perspectives from investors, management, and other stakeholders to enhance sustainability performance [8][9] Sustainability Ratings and Awards - SANY Renewable Energy has received various sustainability ratings, including EcoVadis Silver and AA ratings from the China Securities Index ESG Ratings [11][12] - The company actively participates in global sustainability initiatives and collaborates with industry partners to promote clean energy solutions [11][12]

Core Viewpoint - The legal opinion letter confirms that the 2024 annual general meeting of SANY Renewable Energy Co., Ltd. was convened and conducted in accordance with relevant laws and regulations, ensuring the legitimacy and validity of the meeting procedures and outcomes [2][4][8]. Group 1: Meeting Procedures - The annual general meeting is scheduled for May 23, 2025, and was convened by the company's board of directors [2][4]. - The meeting notification was disclosed through various media, including the Shanghai Stock Exchange website, detailing the time, location, agenda, and registration methods [3][4]. Group 2: Attendance and Voting - A total of 148 attendees represented 697,309,007 shares, accounting for 57.5391% of the total voting shares [5][6]. - Of the attendees, 20 participated in person or via communication, representing 610,104,054 shares (50.3433%), while 128 participated through online voting, representing 87,204,953 shares (7.1958%) [5][6]. Group 3: Voting Results - The meeting passed several resolutions, including the approval of the 2024 board and supervisory reports, with votes overwhelmingly in favor, such as 697,126,366 shares (99.9996%) for the board report [6][7]. - The profit distribution plan for 2024 received 697,117,466 shares in favor, with a minor number of abstentions [6][7]. - The election of independent directors and the approval of the 2025 audit firm were also passed with significant support from shareholders [8]. Group 4: Conclusion - The legal opinion concludes that all aspects of the meeting, including the convening, attendance, and voting procedures, complied with the Company Law, Shareholder Meeting Rules, and the company's articles of association, confirming their legality and validity [8].

Meeting Overview - The shareholder meeting of SANY Energy was held on May 23, 2025, at the SANY Industrial Park in Beijing [1] - A total of 148 ordinary shareholders attended the meeting, holding 697,309,007 voting rights, which represents 57.5391% of the company's total voting rights [1] Voting Results - All non-cumulative voting proposals were approved with a high level of agreement, including: - 99.9738% of ordinary shareholders voted in favor of the first proposal, with only 0.0222% against and 0.0040% abstaining [2] - The second proposal received 99.9737% approval, with similar low opposition and abstention rates [2] - The third proposal also achieved 99.9738% approval, indicating strong shareholder support [2] Legal Compliance - The meeting was convened and conducted in accordance with the Company Law and the company's articles of association, as confirmed by the legal representatives from Hunan Qiyuan Law Firm [3]

湖南启元律师事务所 关于三一重能股份有限公司 2024 年年度股东大会的 法律意见书 2025 年 5 月 致：三一重能股份有限公司 湖南启元律师事务所（以下简称"本所"）接受三一重能股份有限公司（以下 简称"公司"）委托，指派律师出席公司 2024 年年度股东大会（以下简称"本次股 东大会"）。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》"）等中国现行法律、法规、规章 和规范性文件以及《三一重能股份有限公司章程》（以下简称"《公司章程》"） 的相关规定，就公司本次股东大会的召集、召开程序、出席会议的人员资格、召 集人资格、表决程序及表决结果等事宜出具本法律意见书。 为出具本法律意见书，本所律师出席了本次股东大会，并核查和验证了公司 提供的与本次股东大会有关的文件、资料，同时听取了公司就有关事实的陈述和 说明。 本所出具本法律意见书是基于公司向本所保证：公司已向本所提供了为出具 本法律意见书所必需的资料和信息，一切足以影响本法律意见书的事实和资料均 已向本所披露；公司向本所提供的所有资料和信息均真实、准确、完整，不存在 任何虚假记载、误导性陈述或重大 ...