2024 年度独立董事述职报告 作为安徽省皖能股份有限公司的独立董事，本人遵循《公司 法》《上市公司独立董事管理办法》《深圳证券交易所股票上市 规则》等相关法律法规的规定和要求，在 2024 年度的工作中， 积极参与公司董事会及各专门委员会会议、独董专门会议、股东 大会，并在董事会日常运作及决策过程中恪尽职守、勤勉尽责。 凭借深厚的专业知识和丰富的实践经验，对董事会审议的重大事 项提出了独立且客观的意见，有力支撑了董事会的科学决策，推 动了公司的规范化管理，切实保障了中小股东的合法权益。现将 本人 2024 年度的履职情况报告如下： 一、本人基本情况 孙永标，男，1978 年出生，法学硕士，安徽怀谷律师事务所 党支部书记、主任，现任全国律协惩戒委委员、省法学法律专家 库专家、省级法治人才库成员、合肥市首席法律咨询专家、合肥 市律协副监事长等。自 2024 年 5 月 16 日公司 2023 年度股东大 会审议通过起被选举为本公司独立董事。 报告期内，本人任职符合《上市公司独立董事管理办法》规 定的独立性要求，不存在影响独立性的情形。 二、出席会议情况 报告期任职期内，本人依照法律、行政法规、监管及公司章 程等 ...

安徽省皖能股份有限公司董事会 关于独立董事独立性自查情况的专项意见 安徽省皖能股份有限公司董事会 2025 年 4 月 23 日 根据《上市公司独立董事管理办法》《深圳证券交易所 股票上市规则》《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》等要求，安徽省皖能股份 有限公司（以下简称"公司"）董事会，就公司在任独立董 事张云燕、谢敬东、姚王信和孙永标的独立性情况进行评估 并出具如下专项意见： 经核查独立董事张云燕、谢敬东、姚王信、孙永标的任 职经历以及签署的相关自查文件，上述人员未在公司担任除 独立董事以外的任何职务，也未在公司主要股东公司担任任 何职务，与公司以及主要股东之间不存在利害关系或其他可 能妨碍其进行独立客观判断的关系，因此，公司独立董事符 合《上市公司独立董事管理办法》《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》中对独 立董事独立性的相关要求。 ...

2024 年度独立董事述职报告 作为安徽省皖能股份有限公司的独立董事，本人依据《公司 法》《上市公司独立董事管理办法》《深圳证券交易所股票上市 规则》等法律法规的规定和要求，在 2024 年度的工作中，出席 公司董事会及各专门委员会会议、独董专门会议、股东大会，在 董事会日常工作及决策中尽职尽责，凭借丰富的专业知识和经验， 对董事会审议的重大事项发表了独立客观的意见，为董事会的科 学决策提供支撑，促进公司规范运作，切实维护了中小股东权益。 现将本人 2024 年度履职情况报告如下： 一、本人基本情况 张云燕，女，1975 年出生。美国耶鲁大学"创新学者"，中 国科学技术大学高级工商管理硕士学位，现任北京金诚同达（上 海）律师事务所高级合伙人、管理合伙人，在证券与资本市场、 并购重组等领域法律服务方面具有丰富经验。因 2024 年 5 月期 满换届，本人不再担任本公司独立董事。报告期内，本人任职符 合《上市公司独立董事管理办法》规定的独立性要求，不存在影 响独立性的情形。 二、出席会议情况 报告期任职期内，本人依照法律、行政法规、监管及公司章 程等规定，勤勉尽职，积极出席本公司股东大会、董事会、董事 会专门委员 ...

2024 年度独立董事述职报告 作为安徽省皖能股份有限公司的独立董事，本人依据《公司 法》《上市公司独立董事管理办法》《深圳证券交易所股票上市 规则》等法律法规的规定和要求，在 2024 年度的工作中，出席 公司董事会及各专门委员会会议、独董专门会议、股东大会，在 董事会日常工作及决策中尽职尽责，凭借丰富的专业知识和经验， 对董事会审议的重大事项发表了独立客观的意见，为董事会的科 学决策提供支撑，促进公司规范运作，切实维护了中小股东权益。 现将本人 2024 年度履职情况报告如下： 一、本人基本情况 谢敬东，男，汉族，1968 年出生，博士后，教授，现任本公 司独立董事、上海电力大学上海智能电网技术研究协同创新中心 主任、淮河能源独立董事。曾任国家能源局（原国家电力监管委 员会）华东监管局市场监管处处长、输供电监管处处长、综合处 处长。长期从事能源电力政策、电力市场化改革与电力监管、能 源革命下的电力系统发展演变特征等研究。 报告期内，本人任职符合《上市公司独立董事管理办法》规 定的独立性要求，不存在影响独立性的情形。 二、出席会议情况 报告期任职期内，本人依照法律、行政法规、监管及公司章 程等规定，勤勉尽职 ...

第一章 总则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组织和行 为，根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国 证券法》（以下简称《证券法》）和其他有关规定，制定本章程。 第二条 公司系依照国家体改委体改生字〔1992〕31 号文发布的《股份有限公 司规范意见》和其他有关规定成立的股份有限公司（以下简称公司）。 公司经安徽省人民政府皖政秘〔1993〕165 号文批准，并经中国证监会证监发 审字〔1993〕29 号文复审同意，以社会募集方式设立；1993 年 12 月 13 日公司在 安 徽 省 市 场 监 督 管 理 局 注 册 登 记 ， 取 得 营 业 执 照 ， 统 一 社 会 信 用 代 码 913400001489495895。 | 第一章 总则 | ----------------------------------------------------------------------------------------------------------2 | | | --- | --- | --- | | 第二章 经营宗旨和范围 | ------ ...

Group 1 - The core point of the article is that WanNeng Electric Power (000543) reported a decline in both revenue and net profit for the first quarter of 2025 [1] Group 2 - The company's operating revenue for Q1 2025 was 6.42 billion yuan, representing a year-on-year decrease of 8.10% [1] - The net profit for the same period was 444 million yuan, showing a year-on-year decline of 1.98% [1]

Financial Performance - The company's operating revenue for Q1 2025 was ¥6,419,690,208.37, a decrease of 8.10% compared to ¥6,985,247,161.67 in the same period last year[5] - Net profit attributable to shareholders was ¥443,609,385.72, down 1.98% from ¥452,572,336.21 year-on-year[5] - Basic and diluted earnings per share were both ¥0.1957, reflecting a decrease of 1.95% from ¥0.1996 in the same period last year[5] - Net profit for the current period is ¥713,255,463.19, an increase of 7.5% compared to ¥663,610,803.54 in the previous period[24] - The profit attributable to the parent company's shareholders is ¥443,609,385.72, a slight decrease of 2.1% from ¥452,572,336.21[24] - The company reported a total comprehensive income of ¥556,502,839.21, slightly down from ¥579,621,151.34 in the previous period[24] Cash Flow - The net cash flow from operating activities increased significantly by 87.48%, reaching ¥2,205,193,871.70 compared to ¥1,176,248,496.92 in the previous year[5] - Operating cash inflow for the current period was ¥8,571,582,368.98, a decrease of 4.34% from ¥8,961,788,062.66 in the previous period[26] - Cash outflow from investment activities totaled ¥874,041,346.28, down 27.14% from ¥1,198,826,914.71 in the previous period[28] - Net cash flow from financing activities was -¥672,894,478.12, compared to a positive cash flow of ¥879,943,106.95 in the previous period[28] - Cash and cash equivalents at the end of the period reached ¥3,119,650,029.92, an increase from ¥2,851,386,574.22 in the previous period[28] - Total cash inflow from financing activities was ¥2,832,511,138.21, down 37.83% from ¥4,556,748,250.87 in the previous period[28] - Cash received from other operating activities increased to ¥262,240,294.68, up 150.00% from ¥104,857,890.58 in the previous period[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥67,234,618,625.79, representing a 0.95% increase from ¥66,601,515,587.62 at the end of the previous year[5] - The total liabilities decreased from ¥45,453,768,218.37 to ¥43,280,629,082.49, a reduction of approximately 4.8%[19] - The total liabilities amount to ¥43,319,812,474.39, showing a marginal increase from ¥43,295,605,887.26[21] - The total equity attributable to shareholders increased by 2.00% to ¥16,138,087,251.43 from ¥15,822,330,214.54 at the end of the previous year[5] Research and Development - The company reported a significant increase in research and development expenses, which rose by 195.6% to ¥84,388,174.29 from ¥28,544,631.41 in the previous year[9] - Research and development expenses increased significantly to ¥84,388,174.29, up from ¥28,544,631.41, indicating a focus on innovation[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 55,537[12] - Anhui Energy Group Co., Ltd. holds 54.93% of shares, totaling 1,245,208,342 shares[12] Other Financial Metrics - The investment income decreased by 42.1%, amounting to ¥179,427,287.91 compared to ¥309,889,804.09 in the same period last year[9] - The company experienced a 12097.7% increase in credit impairment losses, totaling ¥41,172,001.56, primarily due to the reversal of bad debts[9] - The company reported a 73.9% decrease in asset disposal gains, which were ¥3,065.33 compared to ¥11,746.45 in the previous year[9] - Cash paid for purchasing goods and services was ¥5,342,536,313.47, a decrease of 21.56% from ¥6,812,694,519.57 in the previous period[26] - Cash paid for employee compensation rose to ¥403,955,840.00, an increase of 19.45% from ¥338,242,354.81 in the previous period[26] Acquisitions and Restructuring - The company completed the acquisition of Xinjiang Lu'an Xiexin Zhuandong Energy Co., Ltd., now holding 53% of the shares[15] - The company has restructured its subsidiary, now named Xinjiang Waneng Jiangbufa Power Generation Co., Ltd.[15]

Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company's performance meets expectations, with new projects continuously contributing incremental growth [5] - The company reported a revenue of 30.094 billion yuan for 2024, a year-on-year increase of 7.99%, and a net profit attributable to shareholders of 2.064 billion yuan, up 44.36% year-on-year [7] - The company is the largest thermal power operator in Anhui Province, with a projected 23.7% share of the province's controlled thermal power units by the end of 2024 [7] Financial Performance Summary - Revenue forecast for 2023 to 2027 shows a steady increase, with 2025 expected revenue at 30.516 billion yuan, a 1.40% growth year-on-year [6] - Net profit attributable to shareholders is projected to grow from 2.064 billion yuan in 2024 to 2.205 billion yuan in 2025, reflecting a 6.85% increase [6] - Earnings per share (EPS) is expected to rise from 0.91 yuan in 2024 to 0.97 yuan in 2025 [6] Operational Highlights - The company achieved a 23% increase in installed capacity by the end of 2024, with new projects contributing significantly to growth [7] - The average on-grid electricity price for 2024 is 449.1 yuan per megawatt-hour, a decrease of 6.5 yuan compared to 2023 [7] - The company plans to distribute a cash dividend of 0.319 yuan per share, totaling 7.23 billion yuan, which is 35.04% of the net profit [7]

Investment Rating - The report maintains a "Buy" rating for WanNeng Electric Power [1][6] Core Views - The company's performance in 2024 met expectations, with significant growth in revenue and net profit driven by new power generation units coming online and favorable electricity pricing [1][3][6] - The overall performance is supported by a 7.99% year-on-year increase in operating revenue to CNY 30.094 billion and a 44.36% increase in net profit attributable to shareholders to CNY 2.064 billion [1][3] - The report highlights the strong contribution from new power generation units, particularly in Xinjiang, and the improvement in profitability from domestic power plants [3][4][6] Summary by Sections Performance Overview - In 2024, the company benefited from the operation of new power plants, leading to a 17.34% year-on-year increase in electricity generation to 601.5 billion kWh [3][4] - The average on-grid electricity price remained high at CNY 449.10 per MWh, with a slight decrease of 1.43% year-on-year [3][4] - The cost of electricity generation materials decreased by 9.13% year-on-year to CNY 257.22 per MWh, contributing to improved margins [3][4] Profit Contribution - The Xinjiang power plants significantly boosted profits, with the WanNeng Jiangbu Power Plant achieving a comprehensive income of CNY 0.552 billion, up 406.42% year-on-year [3][4] - Domestic power plants also showed improved profitability, with notable recoveries in the Hefei and Ma'anshan plants [3][4] Growth Potential - The company is expected to continue its growth trajectory with ongoing investments in new power generation capacity, including projects set to come online in 2025 and 2026 [4][6] - Despite a projected decrease in electricity prices, the company is anticipated to maintain high utilization rates due to a power supply shortage in Anhui [4][6] Financial Projections - The report adjusts the forecast for net profit attributable to shareholders for 2025-2027 to CNY 2.079 billion, CNY 2.282 billion, and CNY 2.319 billion, respectively [6] - Corresponding P/E ratios are projected at 8.46, 7.71, and 7.59 for the same years [6]

Investment Rating - The report maintains a "Buy" rating for WanNeng Electric Power [1][6] Core Views - The company's performance in 2024 met expectations, with significant growth driven by new power generation units and stable electricity prices [1][3] - The overall revenue for 2024 reached 30.094 billion yuan, a year-on-year increase of 7.99%, while the net profit attributable to shareholders was 2.064 billion yuan, up 44.36% year-on-year [1][3] - The report highlights the continuous commissioning of new units, which supports future growth [1][3] Summary by Sections Performance Overview - In 2024, the company benefited from the commissioning of new power plants, leading to a 17.34% year-on-year increase in electricity generation, totaling 601.5 billion kWh [3][4] - The average on-grid electricity price was 449.10 yuan/MWh, showing a slight decrease of 1.43% year-on-year, while the cost of materials per kWh decreased by 9.13% to 257.22 yuan/MWh [3][4] Profit Contribution - The main profit growth driver was the full operation of the Xinjiang power plant, which contributed 552 million yuan in comprehensive income, a 406.42% increase year-on-year [3][4] - The report notes significant improvements in profits from domestic power plants, with several plants turning losses into profits [3][4] Growth Potential - The company is expected to see continued growth in installed capacity, with several projects set to be commissioned in 2025-2026 [4][6] - Despite a projected decrease in electricity prices, the company is anticipated to maintain high utilization hours due to a power supply shortage in Anhui [4][6] Financial Projections - The report adjusts the net profit forecasts for 2025-2027 to 2.079 billion, 2.282 billion, and 2.319 billion yuan, respectively, with corresponding P/E ratios of 8.46, 7.71, and 7.59 [6][5]