证券代码：000958 证券简称：电投产融 公告编号：2025-080 国家电投集团产融控股股份有限公司 关于重大资产置换及发行股份购买资产 并募集配套资金暨关联交易报告书 （草案）（注册稿）的修订说明公告 （以下简称"重组报告书"）进行了修订，并披露了重组报 告书（注册稿）。 相较公司于 2025 年 11 月 26 日披露的重组报告书（上会 稿），本次披露的重组报告书（注册稿）主要修订情况如下 （如无特别说明，本公告中的简称或释义均与重组报告书中 "释义"所定义的词语或简称具有相同的含义）： | | 章节 | 修订情况 | | --- | --- | --- | | 封面 | | 将重组报告书修改为注册稿并修订出具时间 | | 重大事项提示 | | 更新本次交易方案已经履行及尚需履行的程序 | | 第一章 | 本次交易概况 | 更新本次交易方案已经履行及尚需履行的程序 | | 第五章 | 拟置入标的资产基 | 更新拟注入标的资产下属莱阳核电审批程序的进展 | | 本情况 | | 情况 | 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。 国家电投集团产融控股 ...

Core Viewpoint - The company intends to acquire 100% equity of Guodian Power Nuclear Co., Ltd. through asset swap and share issuance, while divesting 100% equity of State Power Investment Group Capital Holdings Co., Ltd. and raising supporting funds [1][3]. Group 1: Transaction Details - The transaction involves a major asset swap, share issuance for asset purchase, and fundraising [3]. - The assets to be acquired include 100% equity of Electric Power Nuclear held by State Nuclear Power and China Life, while the divested asset is 100% equity of Capital Holdings [3]. - The total transaction price for the acquired assets is 5,539,371.08 million, with an appreciation rate of 99.65%, while the divested asset is valued at 1,510,828.45 million, with an appreciation rate of 46.85% [5][6]. Group 2: Financial Advisory - The independent financial advisors for this transaction are CITIC Securities Co., Ltd. and Bank of China International Securities Co., Ltd. [6].

智通财经APP讯，电投产融(000958.SZ)发布公告，公司拟通过资产置换和发行股份方式购买国电投核能 有限公司100%股权，同时置出国家电投集团资本控股有限公司100%股权，并募集配套资金。深交所并 购重组审核委员会于2025年12月4日召开2025年第12次并购重组审核委员会审议会议，对本次交易的申 请进行了审议。根据深交所并购重组审核委员会发布的《深圳证券交易所并购重组审核委员会2025年第 12次审议会议结果公告》，本次会议的审议结果为：本次交易符合重组条件和信息披露要求。 ...

Core Viewpoint - The Shenzhen Stock Exchange's M&A Review Committee held its 12th meeting on December 4, 2025, to review the application for a transaction, concluding that it meets restructuring conditions and information disclosure requirements [1] Group 1 - The transaction still requires approval from the China Securities Regulatory Commission (CSRC) for registration, indicating uncertainty regarding the final approval and its timing [1]

证券代码：000958 证券简称：电投产融 公告编号：2025-079 国家电投集团产融控股股份有限公司 关于公司重大资产置换及发行股份购买资产 并募集配套资金暨关联交易获得深圳证券交 易所并购重组审核委员会审核通过的公告 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。 国家电投集团产融控股股份有限公司（简称公司）拟通过 资产置换和发行股份方式购买国电投核能有限公司 100%股权， 同时置出国家电投集团资本控股有限公司 100%股权，并募集 配套资金（简称本次交易）。 深圳证券交易所并购重组审核委员会于 2025 年 12 月 4 日召开 2025 年第 12 次并购重组审核委员会审议会议，对本次 交易的申请进行了审议。根据深圳证券交易所并购重组审核委 员会发布的《深圳证券交易所并购重组审核委员会 2025 年第 12 次审议会议结果公告》，本次会议的审议结果为：本次交 易符合重组条件和信息披露要求。 董 事 会 2025 年 12 月 5 日 - 2 - - 1 - 况，按照有关法律法规的规定和要求及时履行信息披露义务， 敬请广大投资者注意投资风险。 特此公 ...

Investment Rating - The report maintains an "Outperform" rating for the public utility and environmental protection sectors [5][7]. Core Views - The report highlights that coal and electricity prices are declining simultaneously, which is expected to maintain reasonable profitability for thermal power companies. Recommendations include major thermal power enterprises such as Huadian International and Shanghai Electric, which has relatively stable regional electricity prices [22]. - Continuous government policies supporting renewable energy development are anticipated to lead to gradually stable profitability in renewable energy generation. Recommended companies include leading national renewable energy firms Longyuan Power and Three Gorges Energy, as well as regional offshore wind power companies [22]. - The report suggests that the growth in installed capacity and electricity generation will offset the downward pressure on electricity prices, with nuclear power companies expected to maintain stable profitability. Recommended companies include China National Nuclear Power and China General Nuclear Power [22]. - The report emphasizes the defensive attributes of hydropower stocks in a global interest rate decline environment, recommending Longjiang Power, which combines stability and growth [22]. - The report identifies investment opportunities in the environmental sector, particularly in water and waste incineration industries, which are entering a mature phase with improved free cash flow [23]. Summary by Sections Market Review - The Shanghai Composite Index fell by 3.77%, with the public utility index down 4.33% and the environmental index down 6.02%. The relative performance of public utilities and environmental sectors ranked 10th and 23rd among 31 first-level industry classifications [15][25]. Important Events - The Ministry of Finance has allocated the first batch of ecological and environmental protection funds for 2026, totaling 40 billion yuan for integrated protection and restoration projects, 153 billion yuan for ecological restoration of abandoned mines, and 136 billion yuan for marine ecological protection projects [16]. Investment Strategy - The report recommends various companies across different sectors, including: - Thermal Power: Huadian International and Shanghai Electric - Renewable Energy: Longyuan Power, Three Gorges Energy, and regional offshore wind companies - Nuclear Power: China National Nuclear Power and China General Nuclear Power - Hydropower: Longjiang Power - Environmental: Guangda Environment and Zhongshan Public Utilities, focusing on mature sectors with improved cash flow [3][22][23]. Key Company Earnings Forecasts - The report provides earnings forecasts and investment ratings for several companies, all rated as "Outperform," including Huadian International, Longyuan Power, and Guangda Environment, among others [7][8].

证券代码：000958 证券简称：电投产融 公告编号：2025-078 国家电投集团产融控股股份有限公司 关于深圳证券交易所并购重组审核委员会 审核公司重大资产置换及发行股份购买资 产并募集配套资金暨关联交易事项 会议安排的公告 - 1 - 性。公司将根据相关事项的进展情况，严格按照相关法律法 规的规定履行有关审批程序和信息披露义务，有关信息均以 公司指定信息披露媒体发布的公告为准。敬请广大投资者关 注后续公告并谨慎投资，注意投资风险。 特此公告。 国家电投集团产融控股股份有限公司 董 事 会 2025 年 11 月 28 日 - 2 - 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。 国家电投集团产融控股股份有限公司（以下简称"公司"） 拟通过资产置换和发行股份方式购买国电投核能有限公司 100%股权，同时置出国家电投集团资本控股有限公司 100% 股权，并募集配套资金（以下简称"本次交易"）。 根据深圳证券交易所（以下简称"深交所"）并购重组 审核委员会公告的《深圳证券交易所并购重组审核委员会 2025 年第 12 次审议会议公告》，深交所并购重组审核委员 ...

Core Viewpoint - The company is currently advancing its major asset restructuring in a lawful and compliant manner, with no substantial obstacles reported that could hinder the process [2] Group 1 - The company is responding to investor inquiries regarding the status of its major asset restructuring [2] - The restructuring work is being conducted in accordance with legal and regulatory requirements [2] - The company emphasizes its commitment to fulfilling information disclosure obligations as per relevant regulations [2]

Core Viewpoint - The company plans to acquire 100% equity of Guodian Power Nuclear Co., Ltd. through asset swap and share issuance, while divesting 100% equity of State Power Investment Group Capital Holdings Co., Ltd. and raising matching funds [1][3]. Group 1: Transaction Details - The company will replace its existing financial business with assets primarily engaged in the construction, operation, and management of nuclear power plants, positioning itself as a platform for the integration of nuclear power operation assets [3]. - The performance commitment indicates that if the transaction is completed in 2025, the committed net profits for the years 2025, 2026, and 2027 should not be less than CNY 3.375 billion, CNY 3 billion, and CNY 3.587 billion, respectively [3]. - If the transaction is completed in 2026, the committed net profits for the years 2026, 2027, and 2028 should not be less than CNY 3 billion, CNY 3.587 billion, and CNY 4.908 billion, respectively [3]. Group 2: Financial Performance - In the first three quarters of the year, the company reported total revenue of CNY 3.65 billion, a year-on-year decrease of 7.66%, and a net profit attributable to shareholders of CNY 617 million, down 19.20% year-on-year [4]. - The company has experienced a continuous decline in net profit for four consecutive quarters [5]. - The net profit figures for the last four quarters are as follows: CNY 158 million in Q3 2025, CNY 195 million in Q2 2025, CNY 264 million in Q1 2025, and CNY 281 million in Q4 2024 [6]. Group 3: Market Reaction - As of November 27, the company's stock price increased by 2.9%, reaching CNY 7.1 per share, with a total market capitalization of CNY 38.222 billion [8]. - The stock's highest price in the last 52 weeks was CNY 7.96, while the lowest was CNY 5.49 [9].

Core Viewpoint - The company plans to acquire 100% equity of Guodian Power Nuclear Co., Ltd. through asset swap and share issuance, while divesting 100% equity of State Power Investment Corporation Capital Holdings Co., Ltd. and raising supporting funds [1] Group 1 - The transaction involves an asset swap and share issuance to facilitate the acquisition [1] - The company is awaiting review from the Shenzhen Stock Exchange's listing review center regarding this transaction [1] - The specific meeting time for the review will be announced later [1]