*ST宝实公告，若本次股权无偿划转事项顺利实施，宝塔实业股份有限公司（*ST宝实）直接控股股东 将由宁夏国有资本运营集团有限责任公司（宁国运）变更为宁夏电力投资集团有限公司（电投集团）。 宁国运为间接控股股东。本次股权无偿划转事项不会导致公司实际控制人发生变化，公司实际控制人仍 为宁夏回族自治区人民政府。本次股权无偿划转不会对公司的生产经营造成不利影响，亦不存在损害公 司和中小股东利益的情形。 ...

Group 1 - The independent directors of Baota Industrial Co., Ltd. held their 17th special meeting on August 11, 2025, to discuss and approve a related party transaction aimed at resolving competition issues with Ningguo Yun [1] - The transaction is deemed beneficial for the company and all shareholders, with no significant adverse impact on the company's financial status or operating results [1] - The pricing of the transaction is considered fair and reasonable, ensuring no harm to the company or shareholders, particularly minority shareholders [1]

Group 1 - The 17th meeting of the 10th Supervisory Board of Baota Industrial Co., Ltd. was held on August 11, 2025, via communication, with all three supervisors present [1] - The meeting was chaired by Mr. Zhang Yuli, and it complied with the Company Law and the company's articles of association, making the resolutions legally valid [1] - The Supervisory Board approved the proposal regarding the signing of the "Entrusted Management Agreement" and related party transactions, with a unanimous vote of 3 in favor [1]

证券代码：000595 证券简称：*ST 宝实 公告编号：2025-094 宝塔实业股份有限公司 为进一步扩大公司新能源发电装机规模，增加发电业务收 入，形成区域竞争优势和规模优势。董事会同意公司控股子公 司宁国运新能源（灵武）有限公司投资建设宁国运新能源（灵 武）有限公司马家滩 240MW/480MWh 储能电站项目。项目动 态总投资约为人民币 37,298.42 万元。为避免影响项目工程进 度，公司董事会同意经营层在董事会审议通过后可以开展前期 工作。具体内容详见公司同日在巨潮资讯网披露的《关于投资 建设灵武马家滩 240MW/480MWh 储能电站项目的公告》（公 告编号：2025-097）。 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 宝塔实业股份有限公司（以下简称"公司"）第十届董事会 第二十三次会议于 2025 年 8 月 5 日以电子邮件方式发出通知， 于 2025 年 8 月 11 日以现场及通讯方式召开。本次会议应到董 事 6 名，实到董事 6 名，其中 4 名董事以通讯方式表决，其余 董事以现场方式表决。公司监事 ...

Core Viewpoint - The resignation of employee director Xiu Jun Cheng from Baota Industrial Co., Ltd. is officially announced, and the company expresses gratitude for his contributions during his tenure [1] Group 1 - Xiu Jun Cheng submitted a written resignation report due to work reasons, and after his resignation, he will no longer hold any position in the company [1] - The resignation will not lead to a decrease in the number of board members below the legal requirement and will not affect the normal operation of the board [1] - The company will promptly complete the relevant procedures for the appointment of a new employee director as per regulations [1] Group 2 - As of the date of the announcement, Xiu Jun Cheng does not hold any shares in the company and has no unfulfilled commitments [1] - The board acknowledges Xiu Jun Cheng's diligent work and significant contributions to the company's high-quality development [1]

Investment Overview - The company plans to invest in the construction of a 240MW/480MWh energy storage power station project in Lingwu, Ningxia, with a total investment of approximately RMB 372.98 million [1][2] - The funding sources for the project include local government special bonds, self-owned funds, and financing from financial institutions [1] Project Details - The energy storage station will consist of 48 units, each with a capacity of 5MW/10MWh, including energy storage battery cabins and inverters [2] - The project site is located within the 1GW photovoltaic area in Lingwu City, Ningxia [2] - The internal rate of return after tax is projected at 3.36%, with a capital return rate of 5.00%, and a payback period of 17.64 years [2] Purpose and Impact - The project aims to enhance the company's renewable energy generation capacity and overall profitability, aligning with regional policies promoting renewable energy development [3] - It is part of the company's strategy to build a modern energy industry system that is "clean, low-carbon, safe, and efficient" [3] Project Risks - The project is subject to uncertainties related to land acquisition, environmental impact assessments, and grid connection design, which may affect the construction timeline [4] - Market and policy changes, as well as funding challenges, could lead to fluctuations in expected revenue and project costs [4]

Investment Overview - The company has approved the investment in the Yanchi Gaosha Wo 320MW/640MWh energy storage project to enhance its renewable energy generation capacity and overall profitability [1][2] - The total investment for the project is approximately RMB 492.33 million, funded through local government special bonds, self-funding, and financing from financial institutions [1] Project Details - The energy storage station will consist of 64 units of 5MW/10MWh storage units, including storage battery cabins and inverters [2] - The project is located in Gaosha Wo Town, Yanchi County, Wuzhong City, Ningxia Hui Autonomous Region [2] - The financial internal rate of return after tax is 3.41%, with a capital internal rate of return of 5.16%, and a payback period of 17.59 years [2] Purpose and Impact - The project aligns with the regional policy to develop renewable energy and aims to build a modern energy industry system that is "clean, low-carbon, safe, and efficient" [2] - It is expected to significantly increase the company's renewable energy installed capacity, thereby enhancing its revenue and overall profitability [2] Project Approval and Next Steps - The investment does not constitute a related party transaction or a major asset restructuring as per regulations [2] - The project requires approval from the company's shareholders before proceeding [2]

Investment Overview - The company plans to invest in the construction of the Zhongwei Yingshuqiao 80MW/160MWh energy storage project to enhance its renewable energy generation capacity and overall profitability [1][2] - The total investment for the project is approximately RMB 145.23 million, funded by local government special bonds, self-owned funds, and bank loans [1][2] Project Details - The energy storage station will consist of 8 sets of 5MW/5MWh and 8 sets of 5MW/15MWh storage units, including battery cabins and inverters [2] - The project site is located in Yingshuqiao Town, Shapotou District, Zhongwei City, Ningxia [2] - The financial internal rate of return after tax is 2.54%, with a capital internal rate of return of 2.52%, and the investment payback period is estimated at 18.66 years [2] Purpose and Impact - The project aligns with the regional government's initiative to develop renewable energy and aims to build a "clean, low-carbon, safe, and efficient" modern energy industry system [2] - It is expected to significantly increase the company's renewable energy capacity, revenue scale, and overall profitability [2]

Core Viewpoint - The announcement details the signing of a management entrustment agreement between Baota Industrial Co., Ltd. and its controlling shareholder Ningxia Guoyou Capital Operation Group Co., Ltd., which involves the management of several renewable energy projects to avoid competition issues [1][13]. Summary by Sections 1. Overview of Related Transactions - The management entrustment agreement allows Ningxia Guoyou to entrust its renewable energy projects to Baota Industrial and its wholly-owned subsidiary Ningxia Electric Power Investment New Energy Co., Ltd. The annual management fee for the entrusted projects is set at 1 million yuan [1][12]. 2. Basic Information of Related Parties - Ningxia Guoyou Capital Operation Group Co., Ltd. is a state-owned enterprise with a registered capital of 3 billion yuan, primarily engaged in investment and related businesses [2]. - Ningxia Electric Power Investment Group Co., Ltd. has a registered capital of approximately 2.24 billion yuan and focuses on investment in the power sector [3]. - Ningxia Electric Power Investment Co., Ltd. is a wholly-owned subsidiary of Ningxia Electric Power Investment Group, established in 2015, with total assets of approximately 255.4 million yuan as of the end of 2024 [4]. 3. Basic Information of Entrusted Projects - The entrusted projects include: - 51% equity of Ningguo Energy (Yanchi County) Co., Ltd., which owns a solar project with a capacity of 850,000 kW [6]. - 51% equity of Ningguo Energy (Zhongning) Co., Ltd., which owns a wind-solar hybrid project with a capacity of 1 million kW [7]. - 100% equity of Ningxia Electric Power Salt Lake New Energy Co., Ltd., which owns a 750 MW wind-solar hybrid project [9]. - 100% equity of Ningxia Electric Power Yongli (Zhongwei) New Energy Co., Ltd., which owns a 3 million kW solar base project [10]. 4. Pricing Policy and Basis for Related Transactions - The pricing for the management entrustment is based on fair and reasonable principles, with the management fee set at 1 million yuan per year for each entrusted project [12][13]. 5. Main Content of the Entrustment Agreement - The agreement outlines the rights and responsibilities of both parties, including management rights, supervision rights, and the ability to appoint directors and senior management for the entrusted companies [11][12]. 6. Purpose and Impact of the Related Transactions - The transaction aims to resolve competition issues between Ningxia Guoyou and the company, aligning with the interests of the company and all shareholders, without adversely affecting the company's financial status or operational results [13][14].

Core Viewpoint - The company *ST Baoshi plans to expand its renewable energy generation capacity by investing approximately 1.011 billion yuan in three energy storage projects [1] Group 1: Investment Projects - The company intends to construct the Lingwu Majiatang 240MW/480MWh energy storage project [1] - The company plans to develop the Yanchi Gaoshaowo 320MW/640MWh energy storage project [1] - The company aims to build the Zhongwei Yingshuijiao 80MW/160MWh energy storage project [1] Group 2: Financial Overview - The total investment for the aforementioned projects is estimated to be around 1.011 billion yuan [1]