证券代码：000155 证券简称：川能动力 公告编号：2025-048 号 债券代码：148936 债券简称：24 川新能 GCV01 四川省新能源动力股份有限公司 第九届董事会第九次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 四川省新能源动力股份有限公司（以下简称"公司"）第九届 董事会第九次会议通知于 2025 年 8 月 18 日通过电话和电子邮件等 方式发出，会议于 2025 年 8 月 27 日以现场方式召开。会议应到董 事 5 人，实到董事 5 人，会议由公司董事长张忠武先生主持，公司 监事及高级管理人员列席了本次会议。会议的召集、召开程序符合 《公司法》和《公司章程》的相关规定。 二、董事会会议审议情况 （一）审议通过了《关于<公司2025年半年度报告及其摘要>的 议案》 该议案须提交公司股东会审议。 具体内容详见与本公告同时刊登的《四川省新能源动力股份有 限公司2025年半年度报告摘要》和《四川省新能源动力股份有限公 司2025年半年度报告》。 本议案已经董事会审计委员会审议通过。 表决结果：同意5票， ...

证券代码：000155 证券简称：川能动力 公告编号：2025-050 号 债券代码：148936 债券简称：24 川新能 GCV01 四川省新能源动力股份有限公司 关于 2025 年度中期利润分配预案的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、审议程序 四川省新能源动力股份有限公司（以下简称"公司"或"川能动 力"）于 2025 年 8 月 27 日召开第九届董事会第九次会议和第九届监 事会第五次会议，审议通过了《关于公司 2025 年度中期利润分配预 案的议案》。根据《公司章程》的规定，该事项尚须提交公司 2025 年第 1 次临时股东会审议。 二、公司 2025 年中期利润分配预案的基本情况 公司合并报表 2025 年上半年归属于上市公司股东的净利润为 306,005,864.04 元，加上年初未分配利润 1,102,068,213.07 元，扣除 计提的盈余公积 49,334,229.59 元，截至 2025 年 6 月 30 日，公司合 并财务报表未分配利润为 1,358,739,847.52 元。母公司 2025 年上半年 实现净利 ...

本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 四川省新能源动力股份有限公司（以下简称"川能动力"或"公 司"）根据战略发展需要，为拓宽融资渠道，优化融资结构，降低 融资成本，拟在银行间债券市场申请注册发行不超过人民币 25 亿元 的债务融资工具、在深圳证券交易所申请注册发行不超过人民币 20 亿元的公司债券。 一、本次债务融资工具拟注册申报情况 （一）注册发行品种：超短期融资券、中期票据、永续票据。 （二）注册额度：预计总额度不超过人民币 25 亿元，其中超短 期融资券不超过 5 亿元、中期票据不超过 10 亿元、永续票据不超过 10 亿元（最终额度以中国银行间市场交易商协会注册结果为准）， 注册有效期两年。 （三）发行期限：超短期融资券单笔发行期限不超过 270 天，中 期票据单笔发行期限不超过 5 年（公司可根据需求选择发行 2 年期、 3 年期、"3+2"或 5 年期），永续票据无固定期限（公司可根据需 求选择发行"2+N""3+N"或"5+N"期）。 证券代码：000155 证券简称：川能动力 公告编号：2025-052 号 债券代码：148936 ...

中信证券股份有限公司 关于四川省新能源动力股份有限公司 变更部分募集资金用途的核查意见 中信证券股份有限公司（以下简称"中信证券"或"独立财务顾问"）作为 四川省新能源动力股份有限公司（以下简称"川能动力""上市公司"或"公司"） 的独立财务顾问，根据《证券发行上市保荐业务管理办法》《深圳证券交易所上 市公司自律监管指引第 1 号——主板上市公司规范运作》和《深圳证券交易所股 票上市规则》等相关法律法规和规范性文件的规定，对上市公司变更部分募集资 金用途事项进行了审慎核查，具体情况如下： 一、变更部分募集资金用途的概述 （一）募集资金基本情况 经中国证券监督管理委员会《关于同意四川省新能源动力股份有限公司发行 股份购买资产并募集配套资金注册的批复》（证监许可〔2023〕2046 号）核准， 并经深圳证券交易所同意，公司向 10 名特定投资者发行 217,599,375 股股份，发 行价格为 10.41 元/股，募集资金总额为 2,265,209,493.75 元，募集资金净额为 2,250,812,865.00 元，天健会计师事务所（特殊普通合伙）对本次募集资金到位 情况进行了审验，并出具了《验资报告》（天健 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=第一节%20重要提示、目录和释义) [Important Notice](index=2&type=section&id=重要提示) The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, free from false statements, misleading representations, or major omissions[3](index=3&type=chunk) - Company head Zhang Zhongwu, chief accountant Wang Dahai, and head of accounting department Chen Wei declare the financial report is true, accurate, and complete[3](index=3&type=chunk) 2025 Semi-Annual Profit Distribution Plan | Indicator | Value | | :--- | :--- | | Share Capital Base | 1,846,168,342 shares | | Cash Dividend per 10 Shares | 1.70 yuan (tax inclusive) | | Bonus Shares | 0 shares (tax inclusive) | | Capital Reserve to Share Capital | No | [Table of Contents](index=3&type=section&id=目录) The report's clear directory covers important notices, company profile, key financial indicators, management discussion, and financial reports - The report includes nine main chapters, covering comprehensive information on company operations, finance, governance, and significant matters[5](index=5&type=chunk) [Reference Documents](index=4&type=section&id=备查文件目录) Reference documents include signed and sealed financial statements and all publicly disclosed company documents on the CSRC website - Reference documents include signed and sealed financial statements and original announcements of all company documents publicly disclosed on the CSRC designated website[7](index=7&type=chunk) [Definitions](index=5&type=section&id=释义) This section defines common terms used in the report, ensuring accurate understanding of the content - "Company", "Listed Company", and "Chuaneng Power" all refer to Sichuan New Energy Power Co., Ltd[8](index=8&type=chunk) - "Reporting Period" refers to January 1 to June 30, 2025[8](index=8&type=chunk) - "Multi-energy Complementarity" refers to the equivalent allocation of new energy resources for natural gas and coal power projects based on installed capacity, as per Sichuan Provincial Development and Reform Commission and Energy Bureau policies[9](index=9&type=chunk) [Company Profile and Key Financial Indicators](index=7&type=section&id=第二节%20公司简介和主要财务指标) [Company Profile](index=7&type=section&id=一、公司简介) Sichuan New Energy Power Co., Ltd. (stock code: 000155) is listed on the Shenzhen Stock Exchange, with Zhang Zhongwu as its legal representative - Company stock abbreviation: **Chuaneng Power**, stock code: **000155**[11](index=11&type=chunk) - The company's legal representative is **Zhang Zhongwu**[11](index=11&type=chunk) [Contact Persons and Information](index=7&type=section&id=二、联系人和联系方式) This section provides contact details for the Board Secretary and Securities Affairs Representative for investor communication - The Board Secretary is **Ou Jiancheng**, and the Securities Affairs Representative is **Fu Jia**[12](index=12&type=chunk) - The contact address for both is 16th Floor, Building 2, Qingfeng Times City, No. 716, Middle Section of Jiannan Avenue, Wuhou District, Chengdu, Sichuan Province[12](index=12&type=chunk) [Other Information](index=7&type=section&id=三、其他情况) During the reporting period, there were no changes to the company's registered address, office address, website, email, or information disclosure locations - The company's contact information remained unchanged during the reporting period, refer to the 2024 annual report for details[13](index=13&type=chunk) - Information disclosure and placement locations remained unchanged during the reporting period, refer to the 2024 annual report for details[14](index=14&type=chunk) [Key Accounting Data and Financial Indicators](index=8&type=section&id=四、主要会计数据和财务指标) In H1 2025, the company's revenue and net profit attributable to shareholders significantly decreased, while total assets and net assets increased Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Reporting Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (yuan) | 1,486,055,184.40 | 1,803,037,698.27 | -17.58% | | Net Profit Attributable to Shareholders (yuan) | 306,005,864.04 | 633,535,093.19 | -51.70% | | Net Profit Attributable to Shareholders Excluding Non-recurring Gains/Losses (yuan) | 296,495,901.40 | 629,221,959.68 | -52.88% | | Net Cash Flow from Operating Activities (yuan) | 537,884,569.93 | 759,144,551.33 | -29.15% | | Basic Earnings Per Share (yuan/share) | 0.17 | 0.41 | -58.54% | | Diluted Earnings Per Share (yuan/share) | 0.17 | 0.41 | -58.54% | | Weighted Average Return on Net Assets | 2.93% | 8.15% | -5.22% | | **Period-End Indicators** | **End of Current Reporting Period** | **End of Prior Year** | **Change from Prior Year-End** | | Total Assets (yuan) | 27,796,329,615.12 | 25,225,062,185.89 | 10.19% | | Net Assets Attributable to Shareholders (yuan) | 10,587,659,066.05 | 10,276,598,592.70 | 3.03% | - The decrease in operating revenue and net profit is mainly due to reduced wind and solar power generation income (settled electricity volume decreased by **24.28%**, settled electricity price decreased by **10.64%**) and inventory impairment provisions due to lithium industry price pressure[16](index=16&type=chunk) [Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=8&type=section&id=五、境内外会计准则下会计数据差异) The company reported no differences in net profit and net assets between international/overseas and Chinese accounting standards - The company reported no differences in net profit and net assets between international accounting standards and Chinese accounting standards during the reporting period[17](index=17&type=chunk) - The company reported no differences in net profit and net assets between overseas accounting standards and Chinese accounting standards during the reporting period[18](index=18&type=chunk) [Non-recurring Gains and Losses and Amounts](index=8&type=section&id=六、非经常性损益项目及金额) During the reporting period, non-recurring gains and losses totaled 9,509,962.64 yuan, primarily from non-current asset disposal and government subsidies Non-recurring Gains and Losses for H1 2025 | Item | Amount (yuan) | | :--- | :--- | | Non-current asset disposal gains and losses | 3,034,750.23 | | Government subsidies included in current profit/loss (excluding those with continuous impact) | 2,369,588.63 | | Fair value changes and disposal gains/losses from financial assets and liabilities held by non-financial enterprises | 9,095,541.66 | | Reversal of impairment provisions for individually tested receivables | 1,258,862.59 | | Gains and losses from contingent events unrelated to normal operating activities | -3,341,201.91 | | Custody fee income from entrusted operations | 1,280,821.91 | | Other non-operating income and expenses apart from the above | -1,141,879.88 | | Other items meeting the definition of non-recurring gains and losses | 136,444.09 | | Less: Income tax impact | 2,289,884.23 | | Minority interest impact (after tax) | 893,080.45 | | Total | 9,509,962.64 | - The company classified individual income tax handling fee refunds of **218,478.34 yuan** as recurring gains and losses[22](index=22&type=chunk) [Management Discussion and Analysis](index=10&type=section&id=第三节%20管理层讨论与分析) [Company's Main Business Activities During the Reporting Period](index=10&type=section&id=一、报告期内公司从事的主要业务) The company's main business focuses on green energy, including new energy power generation and lithium battery operations - The company's main businesses include new energy power generation (wind, solar, waste-to-energy) and lithium battery business (lithium ore mining, processing, and lithium salt production and sales)[40](index=40&type=chunk) - New energy power generation business is currently the company's primary source of revenue and profit[40](index=40&type=chunk) - The Lijiaogou lithium mine mining and processing project and the new **30,000 tons/year** lithium salt project have fully entered the trial production phase[40](index=40&type=chunk) [(I) Industry Development](index=10&type=section&id=(一)%20行业发展情况) This section details the policy environment, market status, and technological trends for new energy and lithium battery industries - Domestic policies accelerate the development of the new energy power generation industry, including the "Energy Law of the People's Republic of China", special actions for optimizing power system regulation capacity, market-oriented reform of new energy on-grid tariffs, and action plans for high-quality development of new energy storage manufacturing[24](index=24&type=chunk)[25](index=25&type=chunk)[26](index=26&type=chunk)[27](index=27&type=chunk)[28](index=28&type=chunk)[29](index=29&type=chunk) - In H1 2025, newly installed renewable energy power generation capacity nationwide reached **268 million kilowatts**, a **99.3% YoY increase**, accounting for **91.5%** of total new power installations[29](index=29&type=chunk) - The lithium battery industry is driven by policy support (e.g., China's car trade-in program, EU Critical Raw Materials Act) and growing demand from new energy vehicles, power batteries, and energy storage markets[32](index=32&type=chunk)[33](index=33&type=chunk)[34](index=34&type=chunk)[35](index=35&type=chunk)[36](index=36&type=chunk)[37](index=37&type=chunk)[38](index=38&type=chunk) [(II) Operating Performance Analysis](index=15&type=section&id=(二)%20经营情况分析) New energy power generation decreased by 24.16% due to grid issues, while lithium and environmental services saw growth - The company has a total installed capacity of **1.2977 million kilowatts** for operational wind and solar power projects, **1.7708 million kilowatts** for projects under construction, and **300,000 kilowatts** for projects awaiting construction, ranking among the top new energy enterprises in Sichuan Province[41](index=41&type=chunk) - In H1 2025, wind and solar power generation achieved **1.873 billion kWh**, a **24.16% YoY decrease**, mainly due to grid upgrades and maintenance outages for some wind power projects[42](index=42&type=chunk) - The company's lithium salt production capacity is **45,000 tons/year**, with the new **30,000 tons/year** project fully entering trial production and successfully producing qualified battery-grade lithium salt products on July 31, 2025[44](index=44&type=chunk) - The Lijiaogou lithium mine mining and processing project has achieved full production and compliance, with **346,600 tons** of raw ore mined, **76,600 tons** of raw ore sold, and **48,600 tons** of lithium concentrate sold in H1 2025, a significant increase YoY[44](index=44&type=chunk) [Analysis of Core Competencies](index=16&type=section&id=二、核心竞争力分析) The company's core competencies include superior resource control, strong project profitability, integrated lithium operations, and robust group support - The Lijiaogou lithium mine in Jinchuan County, Aba Prefecture, for which the company holds mining rights, has proven ore reserves of **38.812 million tons** with an average grade of **1.3%**, lithium oxide reserves of **502,200 tons** (equivalent to **1.24 million tons LCE**), and associated rare metals like tantalum, niobium, beryllium, and tin[45](index=45&type=chunk) - The company's operational and under-construction wind and solar projects have a total installed capacity of **3.37 million kilowatts**, with approximately **1.2977 million kilowatts** operational, **1.77 million kilowatts** under construction, and **300,000 kilowatts** with approved indicators ready for commencement, ranking among the top new energy enterprises in Sichuan[47](index=47&type=chunk) - The company's lithium salt product indicators significantly exceed national and industry standards, with some chemical indicators like Na, K, Mg, and SO42- being industry-leading, and magnetic impurities superior to national standards[49](index=49&type=chunk) - The company's main business now covers wind and solar power generation, waste-to-energy and integrated environmental sanitation, lithium ore mining, and lithium salt manufacturing, forming a "one core, two-way" industrial chain structure with continuous optimization[52](index=52&type=chunk) [Main Business Analysis](index=19&type=section&id=三、主营业务分析) Main business revenue decreased by 17.58% due to reduced wind and solar power generation, while lithium and environmental services grew H1 2025 Main Business Revenue Composition | Sub-industry | Current Reporting Period Amount (yuan) | Proportion of Operating Revenue | Prior Year Period Amount (yuan) | Proportion of Operating Revenue | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,486,055,184.40 | 100% | 1,803,037,698.27 | 100% | -17.58% | | Wind and Solar Power Generation Revenue | 753,068,844.30 | 50.67% | 1,112,950,096.51 | 61.72% | -32.34% | | Lithium Business Revenue | 216,306,661.79 | 14.56% | 210,040,227.22 | 11.65% | 2.98% | | Waste-to-Energy Revenue | 348,957,646.74 | 23.48% | 360,065,900.97 | 19.97% | -3.09% | | Environmental Sanitation Services Revenue | 143,241,931.10 | 9.64% | 91,549,379.15 | 5.08% | 56.46% | H1 2025 Main Business Gross Profit Margin | Sub-industry | YoY Change in Operating Revenue | YoY Change in Operating Cost | YoY Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | | Wind and Solar Power Generation Revenue | -32.34% | 6.03% | -11.73% | | Lithium Business Revenue | 2.98% | -1.66% | 4.57% | | Waste-to-Energy Revenue | -3.09% | 4.64% | -4.07% | - Net cash flow from operating activities decreased by **29.15% YoY**, mainly due to reduced wind and solar power generation revenue and lower benchmark electricity fee receipts[57](index=57&type=chunk) [Non-Main Business Analysis](index=20&type=section&id=四、非主营业务分析) Non-main business activities negatively impacted total profit, with asset impairment losses being the largest contributor H1 2025 Impact of Non-Main Business on Total Profit | Item | Amount (yuan) | Proportion of Total Profit | Sustainability | | :--- | :--- | :--- | :--- | | Investment Income | -894,168.34 | -0.24% | Not sustainable | | Fair Value Change Gains/Losses | 2,734,388.87 | 0.72% | Not sustainable | | Non-operating Income | 557,016.11 | 0.15% | Not sustainable | | Non-operating Expenses | 5,076,571.50 | 1.34% | Not sustainable | | Credit Impairment Losses | -9,386,219.82 | -2.48% | Not sustainable | | Asset Impairment Losses | -75,396,893.60 | -19.89% | Not sustainable | - Asset impairment losses primarily consist of inventory impairment provisions and fixed asset impairment provisions[61](index=61&type=chunk) [Analysis of Assets and Liabilities](index=21&type=section&id=五、资产及负债状况分析) Total assets increased by 10.19% due to project loans and investments, leading to a significant rise in long-term borrowings H1 2025 Significant Changes in Asset Composition | Item | End of Current Reporting Period Amount (yuan) | Proportion of Total Assets | End of Prior Year Amount (yuan) | Proportion of Total Assets | Proportion Change | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 7,087,035,466.27 | 25.50% | 5,493,442,361.61 | 21.78% | 3.72% | Increased project loans for wind and solar power generation projects under construction | | Construction in Progress | 1,713,986,239.26 | 6.17% | 1,083,640,004.71 | 4.30% | 1.87% | Continuous investment in De'a Industrial Park lithium salt project, and wind and solar power generation projects under construction | | Long-term Borrowings | 9,558,125,145.91 | 34.39% | 7,804,809,799.01 | 30.94% | 3.45% | Increased project loans for wind and solar power generation projects under construction | H1 2025 Asset Restrictions at Period-End | Item | Book Balance (yuan) | Type of Restriction | Restriction Details | | :--- | :--- | :--- | :--- | | Monetary Funds | 55,215,450.13 | Pledge, Freeze | Bank acceptance bill deposits, letter of guarantee deposits, ETC frozen funds, and litigation freezes | | Fixed Assets | 808,632,332.94 | Mortgage | Project construction and operation loans, with fixed assets as collateral | | Intangible Assets | 2,117,476,817.66 | Pledge | Project construction and operation loans, with concession rights as collateral | | Accounts Receivable | 2,026,132,339.10 | Pledge | Project construction and operation loans, with project operation fee collection rights as collateral | [Investment Status Analysis](index=23&type=section&id=六、投资状况分析) Total investment increased by 13.91% YoY, with significant non-equity investments in wind, solar, and lithium salt projects H1 2025 Investment Amount | Indicator | Investment Amount in Reporting Period (yuan) | Investment Amount in Prior Year Period (yuan) | Change Rate | | :--- | :--- | :--- | :--- | | Total Investment | 1,174,961,885.83 | 1,031,454,308.00 | 13.91% | - The company increased its capital contribution to Maerkang Chuaneng New Energy Development Co., Ltd. by **140,760,000.00 yuan**, maintaining a **51.00%** shareholding, funded by its own capital[69](index=69&type=chunk) - During the reporting period, the company changed the use of **680 million yuan** of raised funds for working capital, with **610 million yuan** used by the company and its consolidated subsidiaries to repay debts and for operational working capital, and **70 million yuan** used by the company's headquarters to repay bank working capital loans[80](index=80&type=chunk) - The Bayannur domestic waste incineration power generation project did not achieve expected benefits, mainly due to daily waste intake not meeting design standards and uncertainty in national subsidy electricity prices due to competitive bidding[83](index=83&type=chunk) [Major Asset and Equity Sales](index=29&type=section&id=七、重大资产和股权出售) The company did not engage in any major asset or equity sales during the reporting period - The company did not sell any major assets during the reporting period[86](index=86&type=chunk) - The company did not sell any major equity during the reporting period[87](index=87&type=chunk) [Analysis of Major Holding and Participating Companies](index=29&type=section&id=八、主要控股参股公司分析) This section lists financial data and business scopes of major subsidiaries, with changes in consolidation scope during the period H1 2025 Financial Data of Major Holding Subsidiaries | Company Name | Operating Revenue (yuan) | Operating Profit (yuan) | Net Profit (yuan) | | :--- | :--- | :--- | :--- | | Sichuan Energy Investment New Energy Power Co., Ltd. | 753,412,881.00 | 420,436,671.10 | 372,628,579.07 | | Sichuan Energy Investment Lithium Industry Co., Ltd. | 263,535,033.89 | -66,346,544.70 | -69,863,560.17 | | Sichuan Energy Investment Energy Saving and Environmental Protection Investment Co., Ltd. | 514,590,713.20 | 99,610,178.53 | 95,792,731.56 | | Sichuan Energy Investment Dingsheng Lithium Industry Co., Ltd. | 97,268,650.09 | -45,837,042.34 | -42,668,363.26 | | Sichuan Energy Investment De'a Lithium Industry Co., Ltd. | 21,899.80 | -119,263.49 | 1,143,939.60 | - During the reporting period, the company transferred equity in Sichuan Chuaneng Energy Saving and Environmental Protection Engineering Co., Ltd., established Aba County Chuaneng Environmental Energy Co., Ltd., and deregistered Yibin Chuaneng Environmental Energy Utilization Co., Ltd[88](index=88&type=chunk) [Information on Structured Entities Controlled by the Company](index=30&type=section&id=九、公司控制的结构化主体情况) The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[90](index=90&type=chunk) [Risks Faced by the Company and Countermeasures](index=30&type=section&id=十、公司面临的风险和应对措施) The company faces risks from market-oriented electricity prices, new energy curtailment, climate dependence, and geological hazards - Electricity market risk: The expanding scale of market-oriented electricity transactions and full participation of new energy power generation projects in market transactions pose a risk of continuous electricity price decline[90](index=90&type=chunk) - Electricity curtailment risk: Continuous increase in new energy installations, coupled with uncoordinated grid transmission and transformation capacity and power load absorption capacity, leads to significant curtailment risks for some wind and solar power projects[91](index=91&type=chunk)[92](index=92&type=chunk) - Risk of major raw material supply or product price fluctuations: Lithium product raw material supply and prices are influenced by market supply and demand, policies, and economic conditions, with significant price fluctuations having a major impact on operating performance[95](index=95&type=chunk)[96](index=96&type=chunk) - Geological disaster risk: The Lijiaogou lithium mine area is located in a high-altitude canyon region with complex geological conditions, prone to frequent geological disasters such as mudslides, collapses, and landslides[97](index=97&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=32&type=section&id=十一、市值管理制度和估值提升计划的制定落实情况) The company has not formulated a market value management system nor disclosed a valuation enhancement plan - The company has not formulated a market value management system[98](index=98&type=chunk) - The company has not disclosed a valuation enhancement plan[98](index=98&type=chunk) [Implementation of "Quality and Return Dual Improvement" Action Plan](index=32&type=section&id=十二、“质量回报双提升”行动方案贯彻落实情况) The company has disclosed an action plan to enhance performance, governance, and market value through six key areas - The company has disclosed the "Quality and Return Dual Improvement" action plan announcement[98](index=98&type=chunk) - The plan includes six aspects: focusing on main responsibilities and businesses, technology leadership, strengthening corporate governance, enhancing information disclosure and investor relations, emphasizing shareholder returns, and increasing shareholdings by the controlling shareholder[98](index=98&type=chunk) [Corporate Governance, Environment, and Society](index=33&type=section&id=第四节%20公司治理、环境和社会) [Changes in Directors, Supervisors, and Senior Management](index=33&type=section&id=一、公司董事、监事、高级管理人员变动情况) During the reporting period, there were changes in the company's directors and chairman, with He Lianjun departing and Zhang Zhongwu elected - He Lianjun resigned as director and chairman on May 28, 2025, due to work transfer[101](index=101&type=chunk) - Zhang Zhongwu was elected as director and chairman on May 28, 2025, due to work transfer[101](index=101&type=chunk) [Profit Distribution and Capital Reserve to Share Capital Conversion in This Reporting Period](index=33&type=section&id=二、本报告期利润分配及资本公积金转增股本情况) The company proposes a cash dividend of 1.70 yuan (tax inclusive) per 10 shares, totaling 313.85 million yuan, with no bonus shares or capital reserve conversion 2025 Semi-Annual Profit Distribution Plan | Indicator | Value | | :--- | :--- | | Bonus Shares per 10 Shares (shares) | 0 | | Cash Dividend per 10 Shares (yuan) (tax inclusive) | 1.70 | | Share Capital Base for Distribution Plan (shares) | 1,846,168,342.00 | | Total Cash Dividend (yuan) (tax inclusive) | 313,848,618.14 | | Proportion of Total Cash Dividend to Total Profit Distribution | 100% | | Distributable Profit (yuan) | 482,867,898.31 | - This profit distribution plan complies with relevant laws and regulations, including the "Company Law", "Securities Law", and "Guidance No. 3 for Listed Companies—Cash Dividends of Listed Companies", as well as the "Articles of Association"[103](index=103&type=chunk) [Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=33&type=section&id=三、公司股权激励计划、员工持股计划或其他员工激励措施的实施情况) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[104](index=104&type=chunk) [Environmental Information Disclosure](index=33&type=section&id=四、环境信息披露情况) The company and its 9 major subsidiaries are listed as legally required environmental information disclosure enterprises, with no environmental accidents reported - The company and its **9** major subsidiaries are included in the list of enterprises legally required to disclose environmental information[105](index=105&type=chunk)[106](index=106&type=chunk) - The company reported no environmental accidents during the reporting period[106](index=106&type=chunk) [Social Responsibility Performance](index=34&type=section&id=五、社会责任情况) In H1 2025, the company actively fulfilled social responsibilities through industrial empowerment, employment assistance, consumer support for agriculture, and public welfare initiatives - The company actively promotes wind and solar power projects in underdeveloped counties such as Meigu County and Leibo County in Liangshan Prefecture, Litang County in Ganzi Prefecture, and Tongjiang County in Bazhong City, paying a total of **145 million yuan** in taxes and fees in H1 2025[107](index=107&type=chunk) - Sichuan Hengsheng Tianjie Company, in its environmental sanitation service project in Puge County, prioritized hiring local surplus labor through flexible employment, providing approximately **130** job opportunities with an average monthly income of **3,600 yuan** per person[107](index=107&type=chunk) - Companies within the consolidated financial statements actively engaged in consumer assistance, purchasing approximately **1.1 million yuan** worth of agricultural and sideline products from assistance and poverty-stricken areas[109](index=109&type=chunk) [Significant Matters](index=36&type=section&id=第五节%20重要事项) [Commitments Fulfilled or Overdue by Controlling Shareholder, Actual Controller, Shareholders, Related Parties, Acquirers, and the Company](index=36&type=section&id=一、公司实际控制人、股东、关联方、收购人以及公司等承诺相关方在报告期内履行完毕及截至报告期末超期未履行完毕的承诺事项) During the reporting period, no commitments by the company or related parties were fulfilled or overdue - During the reporting period, there were no commitments by the company's actual controller, shareholders, related parties, acquirers, or the company that were fulfilled or overdue by the end of the reporting period[112](index=112&type=chunk) [Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties](index=36&type=section&id=二、控股股东及其他关联方对上市公司的非经营性占用资金情况) During the reporting period, there were no non-operating funds occupied by the controlling shareholder or other related parties - During the reporting period, there were no non-operating funds occupied by the controlling shareholder or other related parties of the listed company[113](index=113&type=chunk) [Irregular External Guarantees](index=36&type=section&id=三、违规对外担保情况) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[114](index=114&type=chunk) [Appointment and Dismissal of Accounting Firms](index=36&type=section&id=四、聘任、解聘会计师事务所情况) The company's semi-annual financial report was not audited - The company's semi-annual report was not audited[115](index=115&type=chunk) [Explanation by the Board of Directors and Supervisory Board on the "Non-Standard Audit Report" for This Reporting Period](index=36&type=section&id=五、董事会、监事会对会计师事务所本报告期“非标准审计报告”的说明) The company had no non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[116](index=116&type=chunk) [Explanation by the Board of Directors on the "Non-Standard Audit Report" for the Prior Year](index=36&type=section&id=六、董事会对上年度“非标准审计报告”相关情况的说明) The company had no non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[116](index=116&type=chunk) [Bankruptcy and Reorganization Matters](index=36&type=section&id=七、破产重整相关事项) The company had no bankruptcy and reorganization matters during the reporting period - The company had no bankruptcy and reorganization matters during the reporting period[116](index=116&type=chunk) [Litigation Matters](index=36&type=section&id=八、诉讼事项) The company is involved in multiple significant litigation and arbitration cases, including sales contract disputes and engineering project disputes - Sales contract disputes with Sichuan Xiangling Industrial Co., Ltd. and Jia Ling, involving **268.0842 million yuan**, have concluded and been transferred to public security for criminal investigation[118](index=118&type=chunk) - Sales contract disputes with Fujian Funeng Power Fuel Co., Ltd., involving **69.1744 million yuan**, have concluded and been transferred to public security for criminal investigation[118](index=118&type=chunk) - Sales contract disputes with Sichuan Jiaqi Petrochemical Co., Ltd., involving **23.414 million yuan**, entered the enforcement stage after judgment, but enforcement was suspended due to the Guanghan People's Court's bankruptcy case not passing review[118](index=118&type=chunk) - In the engineering project settlement dispute between Hunan Industrial Equipment Installation Co., Ltd. and Shehong Chuaneng Environmental Protection Co., Ltd. and Chuaneng Environmental Protection, the first instance judgment ordered Shehong Chuaneng Environmental Protection to pay **21.2472 million yuan** plus interest, which was upheld in the second instance[160](index=160&type=chunk) [Penalties and Rectification](index=41&type=section&id=九、处罚及整改情况) The company had no penalties or rectification situations during the reporting period - The company had no penalties or rectification situations during the reporting period[123](index=123&type=chunk) [Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=41&type=section&id=十、公司及其控股股东、实际控制人的诚信状况) The company, its controlling shareholder, and actual controller had no integrity issues during the reporting period - The company, its controlling shareholder, and actual controller had no integrity issues during the reporting period[124](index=124&type=chunk) [Significant Related Party Transactions](index=41&type=section&id=十一、重大关联交易) The company engaged in daily operating related party transactions, including sales, purchases, joint investments, and asset transfers H1 2025 Related Party Sales Transactions Related to Daily Operations | Related Party | Related Transaction Content | Related Transaction Amount (10,000 yuan) | Proportion of Similar Transactions | | :--- | :--- | :--- | :--- | | Sichuan Energy Investment Comprehensive Energy Co., Ltd. | Electricity Sales | 12,691.87 | 16.85% | | Sichuan Chuaneng Zhineng Industrial Co., Ltd. | Electricity Sales | 37,054.68 | 49.20% | | Sichuan Guoli Lithium Materials Co., Ltd. | Sales of Goods | 10,103.80 | 46.71% | | Sichuan Energy Development Group Co., Ltd. | Custody Services | 128.08 | 100.00% | H1 2025 Related Party Purchase Transactions Related to Daily Operations | Related Party | Related Transaction Content | Related Transaction Amount (10,000 yuan) | Proportion of Similar Transactions | | :--- | :--- | :--- | :--- | | Sichuan Chuanhua Yongxin Construction Engineering Co., Ltd. | Acceptance of Services | 6,744.10 | 10.10% | | Sichuan Energy Investment Huicheng Training Management Co., Ltd. | Acceptance of Services | 2,208.75 | 17.36% | | Sichuan Energy Investment Materials Industry Group Co., Ltd. | Purchase of Goods, Acceptance of Services | 182.28 | 0.27% | | Sichuan Chemical Group Co., Ltd. | Acceptance of Services | 221.32 | 18.76% | - The company and Sichuan Energy Investment Power Development Group Co., Ltd. jointly invested in Maerkang Chuaneng New Energy Development Co., Ltd., with a registered capital of **326 million yuan**, primarily engaged in solar power generation[135](index=135&type=chunk) - On March 28, 2025, the company approved the "Proposal on Sichuan Energy Investment Energy Saving and Environmental Protection Investment Co., Ltd. Transferring 100% Equity of Sichuan Chuaneng Energy Saving and Environmental Protection Engineering Co., Ltd.", transferring it to Sichuan Energy Investment Resource Recycling Investment Co., Ltd[139](index=139&type=chunk) [Significant Contracts and Their Performance](index=51&type=section&id=十二、重大合同及其履行情况) The company has equity custody arrangements, leasing activities, provides guarantees for subsidiaries, and engages in entrusted wealth management - The company's controlling shareholder entrusted the equity of **8** target companies, including Renshou Chuaneng Environmental Energy Co., Ltd., to Chuaneng Environmental Protection to exercise all shareholder rights except share disposal rights, shareholder income rights, and residual asset distribution rights during liquidation, paying a fixed income of **4.4 million yuan/year** plus floating income[142](index=142&type=chunk) H1 2025 Lease Expenses as Lessee | Item | Current Period Amount (yuan) | | :--- | :--- | | Short-term Lease Expenses | 2,322,552.83 | | Interest Expense on Lease Liabilities | 1,444,819.55 | | Total Cash Outflow Related to Leases | 10,953,223.79 | H1 2025 External Guarantees by the Company and its Subsidiaries (Guarantees for Subsidiaries) | Name of Guaranteed Party | Guarantee Limit (10,000 yuan) | Actual Guarantee Amount (10,000 yuan) | Guarantee Type | Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Sichuan Dexin Mining Resources Co., Ltd. | 135,000 | 5,100 | Joint and Several Liability Guarantee | No | | Sichuan Energy Investment Dingsheng Lithium Industry Co., Ltd. | 65,000 | 4,816 | Joint and Several Liability Guarantee | No | | Sichuan Provincial Energy Investment Yanbian New Energy Development Co., Ltd. | 15,100 | 5,962.6 | Joint and Several Liability Guarantee | No | | **Total** | **276,266** | **113,128.6** | | | - The actual total guarantee amount at the end of the reporting period was **1.131286 billion yuan**, accounting for **10.68%** of the company's net assets[158](index=158&type=chunk) H1 2025 Entrusted Wealth Management | Specific Type | Entrusted Wealth Management Amount (10,000 yuan) | Unexpired Balance (10,000 yuan) | | :--- | :--- | :--- | | Bank Wealth Management Products | 96,500 | 39,000 | [Explanation of Other Significant Matters](index=62&type=section&id=十三、其他重大事项的说明) The company had no other significant matters requiring explanation during the reporting period - The company had no other significant matters requiring explanation during the reporting period[160](index=160&type=chunk) [Significant Matters of Company Subsidiaries](index=62&type=section&id=十四、公司子公司重大事项) The company had no significant matters concerning its subsidiaries during the reporting period - The company had no significant matters concerning its subsidiaries during the reporting period[161](index=161&type=chunk) [Share Changes and Shareholder Information](index=63&type=section&id=第六节%20股份变动及股东情况) [Share Change Status](index=63&type=section&id=一、股份变动情况) During the reporting period, restricted shares decreased due to the listing of new shares from asset acquisition, while unrestricted shares increased H1 2025 Share Change Status | Share Class | Number of Shares Before This Change (shares) | Increase/Decrease in This Change (shares) | Number of Shares After This Change (shares) | | :--- | :--- | :--- | :--- | | I. Restricted Shares | 152,645,974.00 | -152,645,974.00 | 0 | | II. Unrestricted Shares | 1,693,522,368.00 | 152,645,974.00 | 1,846,168,342.00 | | III. Total Shares | 1,846,168,342.00 | 0 | 1,846,168,342.00 | - Share changes were mainly due to the listing and circulation of new shares from the company's asset acquisition on April 29, 2025, with a lock-up period of **12 months** from the listing date[165](index=165&type=chunk) - Restricted shares held by Dongfang Electric Corporation and Chengdu Mingyong Investment Co., Ltd. were released and listed for circulation on April 29, 2025[167](index=167&type=chunk)[168](index=168&type=chunk) [Securities Issuance and Listing](index=66&type=section&id=二、证券发行与上市情况) The company had no securities issuance and listing during the reporting period - The company had no securities issuance and listing during the reporting period[170](index=170&type=chunk) [Number of Shareholders and Shareholding Status](index=66&type=section&id=三、公司股东数量及持股情况) At the end of the reporting period, the company had 119,066 common shareholders, with Sichuan Energy Investment Group as the largest shareholder - At the end of the reporting period, the total number of common shareholders was **119,066**[170](index=170&type=chunk) H1 2025 Shareholding Status of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held at Period-End (shares) | Number of Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | Sichuan Provincial Energy Investment Group Co., Ltd. | State-owned Legal Person | 30.43% | 561,714,254 | 561,714,254 | | Sichuan Chemical Group Co., Ltd. | State-owned Legal Person | 7.77% | 143,500,000 | 143,500,000 | | Dongfang Electric Corporation | State-owned Legal Person | 4.72% | 87,167,187 | 87,167,187 | | Chengdu Mingyong Investment Co., Ltd. | Domestic Non-state-owned Legal Person | 3.55% | 65,474,962 | 65,474,962 | - The company's controlling shareholder has changed from Sichuan Energy Investment Group to Sichuan Energy Development Group Co., Ltd., with the equity change still requiring registration and transfer procedures with China Securities Depository and Clearing Corporation Limited Shenzhen Branch[172](index=172&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=68&type=section&id=四、董事、监事和高级管理人员持股变动) The shareholdings of the company's directors, supervisors, and senior management remained unchanged during the reporting period - The shareholdings of the company's directors, supervisors, and senior management remained unchanged during the reporting period, refer to the 2024 annual report for details[173](index=173&type=chunk) [Changes in Controlling Shareholder or Actual Controller](index=68&type=section&id=五、控股股东或实际控制人变更情况) During the reporting period, the company's controlling shareholder changed to Sichuan Energy Development Group Co., Ltd., while the actual controller remained unchanged - The new controlling shareholder is Sichuan Energy Development Group Co., Ltd., with the change date being February 27, 2025[174](index=174&type=chunk) - The company's actual controller remained unchanged during the reporting period[174](index=174&type=chunk) [Preferred Share Information](index=69&type=section&id=六、优先股相关情况) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[175](index=175&type=chunk) [Bond-Related Information](index=70&type=section&id=第七节%20债券相关情况) [Corporate Bonds](index=70&type=section&id=一、企业债券) The company had no corporate bonds during the reporting period - The company had no corporate bonds during the reporting period[177](index=177&type=chunk) [Company Bonds](index=70&type=section&id=二、公司债券) The company issued "24 Chuanxineng GCV01" carbon-neutral green rural revitalization corporate bonds, with a balance of 200 million yuan and an interest rate of 2.42% H1 2025 Basic Information on Company Bonds | Bond Name | Bond Abbreviation | Bond Code | Bond Balance (10,000 yuan) | Interest Rate | Trading Venue | | :--- | :--- | :--- | :--- | :--- | :--- | | Sichuan New Energy Power Co., Ltd. 2024 Publicly Issued Carbon Neutral Green Rural Revitalization Corporate Bonds (Tranche 1) for Professional Investors | 24 Chuanxineng GCV01 | 148936.SZ | 20,000 | 2.42% | Shenzhen Stock Exchange | - This tranche of bonds is only issued to institutional investors among professional investors; ordinary investors and individual investors among professional investors are not allowed to participate in the subscription[179](index=179&type=chunk) [Non-Financial Enterprise Debt Financing Instruments](index=71&type=section&id=三、非金融企业债务融资工具) The company had no non-financial enterprise debt financing instruments during the reporting period - The company had no non-financial enterprise debt financing instruments during the reporting period[181](index=181&type=chunk) [Convertible Corporate Bonds](index=71&type=section&id=四、可转换公司债券) The company had no convertible corporate bonds during the reporting period - The company had no convertible corporate bonds during the reporting period[182](index=182&type=chunk) [Consolidated Statement Loss Exceeding 10% of Net Assets at Prior Year-End](index=71&type=section&id=五、报告期内合并报表范围亏损超过上年末净资产10%) The company's consolidated statement loss did not exceed 10% of net assets at the prior year-end during the reporting period - The company's consolidated statement loss did not exceed **10%** of net assets at the prior year-end during the reporting period[183](index=183&type=chunk) [Key Accounting Data and Financial Indicators for the Past Two Years as of the End of the Reporting Period](index=71&type=section&id=六、截至报告期末公司近两年的主要会计数据和财务指标) At the end of the reporting period, the company's liquidity and quick ratios improved, while the asset-liability ratio increased, and profitability indicators declined Key Accounting Data and Financial Indicators for the Past Two Years | Item | End of Current Reporting Period | End of Prior Year | Change from Prior Year-End | | :--- | :--- | :--- | :--- | | Current Ratio | 2.54 | 2.20 | 15.45% | | Asset-Liability Ratio | 53.47% | 49.92% | 3.55% | | Quick Ratio | 2.37 | 2.05 | 15.61% | | **Current Reporting Period** | **Prior Year Period** | **Change from Prior Year Period** | | | Net Profit Excluding Non-recurring Gains/Losses (10,000 yuan) | 31,281.46 | 70,327.13 | -55.52% | | EBITDA to Total Debt Ratio | 7.27% | 12.65% | -5.38% | | Interest Coverage Ratio | 2.83 | 4.92 | -42.48% | | Cash Interest Coverage Ratio | 2.89 | 3.93 | -26.46% | | EBITDA Interest Coverage Ratio | 4.87 | 6.59 | -26.10% | [Financial Report](index=72&type=section&id=第八节%20财务报告) [Audit Report](index=72&type=section&id=一、审计报告) The company's semi-annual financial report was not audited - The company's semi-annual financial report was not audited[186](index=186&type=chunk) [Financial Statements](index=72&type=section&id=二、财务报表) This section presents the company's H1 2025 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity - The consolidated balance sheet shows total assets of **27,796,329,615.12 yuan** and total liabilities of **14,862,417,381.03 yuan** at period-end[190](index=190&type=chunk) - The consolidated income statement shows total operating revenue of **1,486,055,184.40 yuan** and net profit of **322,324,585.16 yuan** for the current period[197](index=197&type=chunk)[198](index=198&type=chunk) - The consolidated cash flow statement shows net cash flow from operating activities of **537,884,569.93 yuan**, net cash flow from investing activities of **-926,872,213.11 yuan**, and net cash flow from financing activities of **1,966,926,979.63 yuan**[202](index=202&type=chunk)[203](index=203&type=chunk) [Company Basic Information](index=90&type=section&id=三、公司基本情况) Established in 1997 and listed in 2000, the company's main business includes new energy power generation, mineral resources, lithium products, and environmental services - The company was approved for establishment in September 1997, registered on October 20, 1997, and listed on the Shenzhen Stock Exchange on September 26, 2000[222](index=222&type=chunk) - The company's registered capital is **1,846,168,342.00 yuan**, with a total of **1,846,168,342 shares**[222](index=222&type=chunk) - The company's main businesses include wind, solar, and waste-to-energy power generation; mining, processing, and sales of mineral resources; production and sales of lithium carbonate and lithium hydroxide; and urban waste collection and environmental sanitation services[222](index=222&type=chunk) [Basis of Financial Statement Preparation](index=91&type=section&id=四、财务报表的编制基础) The company's financial statements are prepared on a going concern basis, with no significant doubts about its ability to continue for the next 12 months - The company's financial statements are prepared on a going concern basis[223](index=223&type=chunk) - There are no matters or circumstances that would cause significant doubt about the company's ability to continue as a going concern for the **12 months** from the end of the reporting period[224](index=224&type=chunk) [Significant Accounting Policies and Estimates](index=91&type=section&id=五、重要会计政策及会计估计) This section details the company's adherence to accounting standards, covering financial instruments, inventory, fixed assets, revenue recognition, and other key policies - The company classifies financial assets at initial recognition into those measured at amortized cost, at fair value through other comprehensive income, and at fair value through profit or loss[235](index=235&type=chunk) - Fixed assets are depreciated using the straight-line method, with depreciation periods of **10-50 years** for buildings and structures, and **10-20 years** for machinery and equipment[253](index=253&type=chunk) - Intangible assets include concession rights, land use rights, software systems, mining rights, patent technologies, and trademarks, with mining rights amortized based on the proportion of actual ore consumption to proven economic reserves[257](index=257&type=chunk) - Revenue recognition principles are based on whether performance obligations are satisfied over time or at a point in time, and revenue is measured at the transaction price allocated to each distinct performance obligation[272](index=272&type=chunk)[273](index=273&type=chunk) [Taxes](index=106&type=section&id=六、税项) This section lists the company's main tax categories and rates, along with various tax incentives enjoyed by the company and its subsidiaries Company's Main Tax Categories and Rates | Tax Category | Tax Rate | | :--- | :--- | | Value-Added Tax | 13%, 9%, 6%, 3%, 1%, Exempt | | Urban Maintenance and Construction Tax | 7%, 5%, 3.5%, 2.5%, 1% | | Corporate Income Tax | 25%, 15%, 12.5%, 7.5%, 5%, Exempt | | Property Tax | 1.2%, 12% | | Resource Tax | 6.5%, 4.5% | - Sichuan Energy Investment Dingsheng Lithium Industry Co., Ltd. and Sichuan Dexin Mining Resources Co., Ltd. enjoy a **15%** corporate income tax preferential rate[290](index=290&type=chunk)[291](index=291&type=chunk) - Multiple subsidiaries enjoy a **15%** corporate income tax preferential rate under the Western Development policy[291](index=291&type=chunk) - Some subsidiaries' public infrastructure projects enjoy a corporate income tax policy of "three years exemption, three years half reduction"[292](index=292&type=chunk) - Wind power generation products are subject to a **50%** immediate refund of Value-Added Tax upon collection[293](index=293&type=chunk) [Notes to Consolidated Financial Statement Items](index=108&type=section&id=七、合并财务报表项目注释) This section provides detailed notes on consolidated financial statement items, including assets, liabilities, equity, income, and expenses H1 2025 Period-End Monetary Funds Composition | Item | Period-End Balance (yuan) | | :--- | :--- | | Cash on Hand | 56,575.84 | | Bank Deposits | 7,067,357,035.59 | | Other Monetary Funds | 19,621,854.84 | | Total | 7,087,035,466.27 | - Accounts receivable period-end book balance is **2,763,968,831.80 yuan**, with bad debt provision of **380,175,502.31 yuan**, of which **81.29%** is from combinations with no recovery risk[302](index=302&type=chunk) - Inventory period-end book balance is **551,162,316.19 yuan**, with inventory impairment provision of **219,768,362.52 yuan**, mainly including raw materials, work-in-progress, and finished goods[338](index=338&type=chunk) - Fixed assets period-end book value is **8,995,852,868.41 yuan**, primarily buildings and structures and machinery and equipment[348](index=348&type=chunk) - Construction in progress period-end balance is **1,713,986,239.26 yuan**, mainly including the Lijiaogou lithium spodumene project, De'a Industrial Park lithium salt project, and multiple wind and solar power projects[361](index=361&type=chunk) - Long-term borrowings period-end balance is **9,558,125,145.91 yuan**, mainly pledged borrowings, credit borrowings, and mortgage/pledge borrowings[428](index=428&type=chunk) - Operating revenue for the current period is **1,486,055,184.40 yuan**, operating cost is **783,105,519.66 yuan**, with a high proportion from main business revenue[454](index=454&type=chunk) [Research and Development Expenses](index=143&type=section&id=八、研发支出) Total R&D expenses for the reporting period were 9,056,615.52 yuan, entirely expensed, primarily for employee compensation and materials H1 2025 R&D Expense Composition | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Employee Compensation | 4,378,852.50 | 4,952,154.42 | | Outsourced R&D Expenses | 106,725.66 | 1,948,650.82 | | Material Costs | 4,295,339.89 | 3,370,228.72 | | Fuel and Power Costs | 107,757.94 | 520,349.06 | | Depreciation and Amortization | 52,714.38 | 410,423.14 | | Other | 115,225.15 | 104,093.33 | | Total | 9,056,615.52 | 11,305,899.49 | | Of which: Expensed R&D | 9,056,615.52 | 11,305,899.49 | [Changes in Consolidation Scope](index=144&type=section&id=九、合并范围的变更) During the reporting period, the company disposed of Sichuan Chuaneng Energy Saving and Environmental Protection Engineering Co., Ltd. equity, established a new subsidiary, and deregistered another - The company disposed of **100%** equity in Sichuan Chuaneng Energy Saving and Environmental Protection Engineering Co., Ltd., completing the industrial and commercial change on April 11, 2025, and losing control[514](index=514&type=chunk) - Aba County Chuaneng Environmental Energy Co., Ltd. was newly established in this period, with **100.00%** shareholding obtained through establishment[515](index=515&type=chunk) - Yibin Chuaneng Environmental Energy Utilization Co., Ltd. was reduced as a subsidiary in this period through deregistration[516](index=516&type=chunk) [Interests in Other Entities](index=145&type=section&id=十、在其他主体中的权益) This section discloses the company's interests in major subsidiaries and significant associates, including financial performance - The company owns **9** major holding subsidiaries, including Sichuan Energy Investment New Energy Power Co., Ltd. (**95.00%** shareholding) and Sichuan Energy Investment Lithium Industry Co., Ltd. (**62.75%** shareholding)[519](index=519&type=chunk) - Sichuan Energy Investment New Energy Power Co., Ltd., a significant non-wholly owned subsidiary, had **44,986,821.23 yuan** in profit/loss attributable to minority shareholders and declared dividends of **82,618,225.78 yuan** to minority shareholders in this period[522](index=522&type=chunk) - Sichuan Shuneng Mineral Resources Co., Ltd., a significant associate, had a net loss of **-65,545,381.83 yuan** in this period[530](index=530&type=chunk) [Government Grants](index=148&type=section&id=十一、政府补助) During the reporting period, government grants included in other income totaled 43,064,239.68 yuan, with deferred government grants primarily asset-related H1 2025 Government Grants Included in Current Profit/Loss | Accounting Account | Current Period Amount (yuan) | | :--- | :--- | | Government Grants Included in Other Income | 43,064,239.68 | | Impact of Fiscal Interest Subsidies on Total Profit | 605,800.00 | | Total | 43,670,039.68 | - Deferred government grants in deferred income had a period-end balance of **56,583,436.00 yuan**, primarily asset-related[535](index=535&type=chunk) [Risks Related to Financial Instruments](index=149&type=section&id=十二、与金融工具相关的风险) The company faces credit, liquidity, and market risks, managed through various measures including monitoring receivables and optimizing financing - The company faces credit risk, liquidity risk, and market risk (interest rate risk and foreign exchange risk)[541](index=541&type=chunk)[542](index=542&type=chunk) - **78.49%** of the company's accounts receivable are from its top five customers, indicating a certain concentration of credit risk[540](index=540&type=chunk) H1 2025 Financial Asset Transfer Status | Transfer Method | Nature of Transferred Financial Assets | Amount of Transferred Financial Assets (yuan) | | :--- | :--- | :--- | | Bill Discounting | Accounts Receivable Financing | 89,949,063.18 | | Bill Endorsement | Accounts Receivable Financing | 33,079,630.08 | | Total | | 123,028,693.26 | [Disclosure of Fair Value](index=151&type=section&id=十三、公允价值的披露) At period-end, assets measured at fair value primarily included trading financial assets and accounts receivable financing, totaling 395,782,083.92 yuan H1 2025 Period-End Assets Measured at Fair Value | Item | Period-End Fair Value (yuan) | | :--- | :--- | | Trading Financial Assets (Bank Wealth Management Products) | 390,349,000.00 | | Accounts Receivable Financing | 5,433,083.92 | | Total Assets Continuously Measured at Fair Value | 395,782,083.92 | - The fair value of the company's bank wealth management products and accounts receivable financing are both measured using Level 3 fair value, estimated using expected rates of return and face value, respectively[550](index=550&type=chunk) [Related Parties and Related Party Transactions](index=152&type=section&id=十四、关联方及关联交易) The company's ultimate controlling party is the Sichuan Provincial SASAC, with extensive related party transactions including sales, purchases, and asset transfers - The company's ultimate controlling party is the Sichuan Provincial State-owned Assets Supervision and Administration Commission[551](index=551&type=chunk) - The company has related party transactions with enterprises controlled by its parent company and associates, including sales and purchases of goods, and provision and acceptance of services, with some transaction amounts exceeding approved limits[556](index=556&type=chunk)[557](index=557&type=chunk)[558](index=558&type=chunk)[559](index=559&type=chunk)[560](index=560&type=chunk) - As a lessor, the company recognized related party lease income of **3,152,620.58 yuan** in this period[563](index=563&type=chunk) - The company borrowed **55,238,300.00 yuan** from Sichuan Energy Investment Capital Holdings Co., Ltd[568](index=568&type=chunk) - The company transferred **100%** equity of Sichuan Chuaneng Energy Saving and Environmental Protection Engineering Co., Ltd. to Sichuan Energy Investment Resource Recycling Investment Co., Ltd. for an equity transfer price of **59.6549 million yuan**[571](index=571&type=chunk) [Commitments and Contingencies](index=160&type=section&id=十五、承诺及或有事项) The company has contingent liabilities related to litigation arising from engineering project settlement disputes, with a second-instance judgment upholding the original ruling - Hunan Industrial Equipment Installation Co., Ltd. filed a lawsuit due to an engineering project settlement dispute, claiming payment of engineering fees and liquidated damages from Shehong Chuaneng Environmental Protection Co., Ltd. and Chuaneng Environmental Protection[578](index=578&type=chunk) - On August 22, 2025, the Suining Intermediate People's Court upheld the original judgment in the second instance, ordering Shehong Chuaneng Environmental Protection Co., Ltd. to pay outstanding engineering fees of **21.2472 million yuan** plus interest[578](index=578&type=chunk) [Post-Balance Sheet Events](index=160&type=section&id=十六、资产负债表日后事项) The company proposes a cash dividend of 1.70 yuan (tax inclusive) per 10 shares, totaling 313.85 million yuan, subject to shareholder approval Post-Balance Sheet Profit Distribution Plan | Indicator | Value | | :--- | :--- | | Proposed Cash Dividend per 10 Shares (yuan) | 1.70 | | Proposed Bonus Shares per 10 Shares (shares) | 0 | | Proposed Capital Reserve to Share Capital per 10 Shares (shares) | 0 | | Total Cash Dividend (tax inclusive) | 313,848,618.14 yuan | - This profit distribution plan aligns with the company's actual situation, promotes sustainable and healthy development, protects investor interests, and is subject to shareholder approval[580](index=580&type=chunk) [Other Significant Matters](index=161&type=section&id=十七、其他重要事项) The company determines reporting segments based on business divisions, including other businesses, wind power, lithium, and environmental businesses - The company determines reporting segments based on business divisions, including other businesses, wind power business, lithium business, and environmental protection business[581](index=581&type=chunk) H1 2025 Segment Financial Information | Item | Wind Power Business | Environmental Protection Business | Lithium Business | Other Businesses | Inter-segment Eliminations | Total | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (yuan) | 753,412,881.00 | 514,590,713.20 | 360,825,583.78 | 16,002.95 | -142,789,996.53 | 1,486,055,184.40 | | Operating Cost (yuan) | 249,258,187.14 | 324,814,314.18 | 322,660,507.63 | 14,526.90 | -113,642,016.19 | 783,105,519.66 | | Total Assets (yuan) | 14,854,433,167.00 | 5,428,104,260.60 | 5,986,805,576.15 | 15,137,696,268.14 | -13,610,709,656.77 | 27,796,329,615.12 | | Total Liabilities (yuan) | 10,460,545,123.87 | 3,095,524,271.65 | 3,558,642,464.13 | 4,313,278,021.62 | -6,565,572,500.24 | 14,862,417,381.03 | [Notes to Parent Company Financial Statement Major Items](index=161&type=section&id=十八、母公司财务报表主要项目注释) This section provides detailed notes on the parent company's financial statement items, including accounts receivable, other receivables, and long-term equity investments - Parent company accounts receivable period-end book balance is **448,203,164.35 yuan**, with bad debt provision of **330,790,892.02 yuan**[587](index=587&type=chunk) - Parent company other receivables period-end balance is **2,618,961,996.79 yuan**, with receivables from consolidated related parties accounting for **99.99%**[606](index=606&type=chunk) - Parent company investment in subsidiaries period-end balance is **6,811,730,353.70 yuan**, and investment in associates and joint ventures period-end balance is **171,196,287.48 yuan**[615](index=615&type=chunk) - Parent company investment income for this period is **472,892,900.94 yuan**, mainly from long-term equity investments accounted for using the cost method[623](index=623&type=chunk) [Supplementary Information](index=168&type=section&id=十九、补充资料) This section provides supplementary information, including a detailed statement of non-recurring gains and losses and net asset return and earnings per share H1 2025 Non-recurring Gains and Losses Details | Item | Amount (yuan) | | :--- | :--- | | Non-current asset disposal gains and losses | 3,034,750.23 | | Government subsidies included in current profit/loss (excluding those with continuous impact) | 2,369,588.63 | | Fair value changes and disposal gains/losses from financial assets and liabilities held by non-financial enterprises | 9,095,541.66 | | Total | 9,509,962.64 | H1 2025 Net Asset Return and Earnings Per Share | Profit for the Reporting Period | Weighted Average Return on Net Assets | Basic Earnings Per Share (yuan/share) | Diluted Earnings Per Share (yuan/share) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Common Shareholders of the Company | 2.93% | 0.17 | 0.17 | | Net Profit Attributable to Common Shareholders of the Company After Deducting Non-recurring Gains/Losses | 2.84% | 0.16 | 0.16 | [Other Submitted Data](index=169&type=section&id=第九节%20其他报送数据) [Other Major Social Security Issues](index=169&type=section&id=一、其他重大社会安全问题情况) The company and its subsidiaries had no other major social security issues or administrative penalties during the reporting period - The listed company and its subsidiaries had no other major social security issues during the reporting period[629](index=629&type=chunk) - No administrative penalties were imposed during the reporting period[629](index=629&type=chunk) [Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=169&type=section&id=二、报告期内接待调研、沟通、采访等活动登记表) During the reporting period, the company hosted two investor engagement activities, including an online earnings briefing and an on-site visit - On May 20, 2025, the company held its 2024 annual online earnings briefing via Value Online platform, communicating with institutional and individual investors on the company's key financial data, operating performance, and project construction status for 2024[629](index=629&type=chunk) - On June 4, 2025, the company hosted an on-site research visit in meeting room 1622 for institutions such as Changjiang Securities, Quanguo Fund, and E Fund, discussing the company's basic situation, new energy power generation installed capacity planning, ongoing project progress, and market value management[629](index=629&type=chunk) [Fund Transactions Between Listed Company and Controlling Shareholder and Other Related Parties](index=169&type=section&id=三、上市公司与控股股东及其他关联方资金往来情况) The company has operating and non-operating fund transactions with its controlling shareholder and related parties, all within approved limits and secured - All transactions between the company and its controlling shareholder and other related parties are operating transactions, included in the company's 2025 annual related party transaction estimates, and approved by the company's 2024 annual general meeting[171](index=171&type=chunk) - The company provides guarantees, internal loans, and financial assistance to entities within its consolidated scope, all included in the company's annual plan and approved by the Board of Directors or Shareholders' Meeting[171](index=171&type=chunk) - The comp

证券代码：000155 证券简称：川能动力 公告编号：2025-045号 债券代码：148936 债券简称：24 川新能 GCV01 四川省新能源动力股份有限公司 关于公司控股股东权益变动的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 重要内容提示： 2025 年 3 月 6 日，公司披露了《四川省新能源动力股份有限 公司收购报告书》等相关要件。 本次合并完成后，公司控股股东由能投集团变更为四川能源发 展集团，实际控制人仍为四川省国资委。 二、本次控股股东权益变动进展情况 截至本公告披露日，本次控股股东权益变动涉及的能投集团直 接持有的公司股份尚未完成中国证券登记结算有限责任公司的登记 过户程序，相关工商变更登记手续尚未完成。 三、其他相关事项说明 公司将持续关注本次控股股东权益变动事宜的进展情况，并按 照相关法律法规的规定及时履行信息披露义务。 本次控股股东权益变动系四川能源发展集团有限责任公司 （以下简称"四川能源发展集团")承继四川省能源投资集团有限 责任公司（以下简称"能投集团"）直接及间接持有的四川省新 能源动力股份有限公司（以下简称"公 ...

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司旗下的李家沟锂辉石矿的采矿权证书是由四川省 自然资源厅登记颁发的。但是根据最新的《矿产资源法》，锂矿作为14种战略性资源，要有国家自然资 源部颁发登记采矿权。最近也有同类型的公司因为此类原因而停产，等待国家自然资源部的审核发证。 公司的李家沟锂矿是否也存在同类问题，会否面临矿证不合规的风险？ 川能动力（000155.SZ）8月26日在投资者互动平台表示，公司李家沟锂矿项目不存在您提到的问题，目 前项目正开展试生产及产能爬坡。 ...

Group 1 - The company Chuaneng Power (000155.SZ) announced on August 25 that its Lijiagou lithium mine project has produced qualified lithium concentrate and is currently in the capacity ramp-up phase [1] - An investor inquired on the investor interaction platform about the mining status of the Lijiagou lithium mine [2]

川能动力（000155.SZ）8月25日在投资者互动平台表示，公司李家沟锂矿项目设计年采选原矿105万 吨，年产锂精矿约18万吨；锂盐生产能力4.5万吨，其中碳酸锂3万吨，后续将根据上游锂资源规模统筹 规划锂盐加工产能。 每经AI快讯，有投资者在投资者互动平台提问：公司几年发展，锂矿产能多少？碳酸锂产能是多少？ 未来产能又是多少？ （文章来源：每日经济新闻） ...

Core Points - Sichuan Energy Investment Yanbian New Energy Development Company received an administrative penalty for "fire control room unattended" [1] - The company is a subsidiary of Sichuan Energy Investment Wind Power Development Company, focusing on wind and solar energy projects [3][4] - The company has a total installed capacity of nearly 200,000 kilowatts from various renewable energy projects [3] Company Information - Sichuan Energy Investment Yanbian New Energy Development Company was established in 2012 with a registered capital of 36.1 million RMB [6] - The major shareholder is Sichuan Energy Investment Wind Power Development Company, holding 95% of the shares, while Chuaneng Power (000155.SZ) holds 5% [6] - As of August 21, 2025, Chuaneng Power's stock price was 10.30 RMB, with a decline of 0.48% [6]