国家核电技术有限公司及其一致行动人免于发出要 约事宜 之 法律意见书 杭州市曙光路 122 号世贸中心 C 座 15 层 电话：0571-87635186 传真：0571-87635188 2026 年 1 月 浙江阳光时代律师事务所 关于 浙江阳光时代律师事务所 目录 | 一、收购人及其一致行动人的主体资格 | 7 | | --- | --- | | 二、本次收购属于《收购管理办法》规定的免于发出要约的情形 10 | | | 三、本次收购的相关法律程序 | 12 | | 四、本次收购是否存在法律障碍 | 12 | | 五、本次收购的信息披露 | 13 | | 六、收购人在本次收购过程中是否存在证券违法行为 13 | | | 七、结论意见 | 16 | 2 法律意见书 释义 在本法律意见书中，除非另有说明，下列词语具有如下含义： | 序号 | 名词 | 说明 | | --- | --- | --- | | 1. | 本所 | 浙江阳光时代律师事务所 | | 2. | 本所律师或我们 | 浙江阳光时代律师事务所出具本次法律意见书 的律师 | | 3. | 国家核电/收购人 | 国家核电技术有限公司 | | 4. ...

证券代码：000958 证券简称：电投产融 公告编号：2026-003 国家电投集团产融控股股份有限公司 关于股东权益变动暨控股股东变更的 提示性公告 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。 本次权益变动前，上市公司控股股东、实际控制人为国 家电力投资集团有限公司（以下简称"国家电投集团"）。 本次权益变动后，上市公司控股股东变更为国家核电。本次 权益变动不会导致上市公司实际控制人发生变化，实际控制 人仍为国家电投集团。 三、本次权益变动前后控股股东、实际控制人及其他 5% 以上股东持股情况 本次交易完成前后，不考虑本次配套融资发行股份的影 响，上市公司控股股东、实际控制人及其他 5%以上股东持 股情况变化如下： | 股东 | 本次交易前 | | 本次交易后 | | | --- | --- | --- | --- | --- | | 持股数量（股） | | 持股比例 | 持股数量（股） | 持股比例 | | 控股股东、实际控制人持股情况变化 | | | | | | 国家电投集团 | 2,678,654,351 | 49.76% | 2,678,654, ...

电投产融公告称，公司实施资产置换和发行股份购买国电投核能100%股权，置出国家电投资本100%股 权并募集配套资金。2026年1月13日，新增11,989,710,207股上市。交易完成前，控股股东为国家电投集 团，其及一致行动人持股51.04%；交易后，控股股东变更为国家核电，国家电投集团及其一致行动人 持股升至59.44%，国家核电持股43.62%。此外，新增股东中国人寿持股25.40%，南网产融、云能资本 持股降至3.70%、2.75%，实控人仍为国家电投集团。 ...

Core Viewpoint - The company Electric Power Investment Corporation (000958) is actively exploring the integration of hydrogen production and seawater desalination with its nuclear power projects, leveraging the capabilities of its CAP1000 and CAP1400 reactor models [1] Group 1: Hydrogen Production - The CAP1000 and CAP1400 nuclear reactor models are designed to support hydrogen production systems, primarily for internal equipment hydrogen supply [1] - These reactors can utilize stable and clean base-load power to enable water electrolysis for hydrogen production, integrating with established PEM electrolysis technologies [1] Group 2: Seawater Desalination - The CAP1000 and CAP1400 models also possess the capability to implement seawater desalination using membrane or thermal methods [1] - The company plans to adapt its nuclear energy applications to meet the economic and social development needs of specific project locations [1]

证券日报网讯1月13日，电投产融（000958）在互动平台回答投资者提问时表示，公司已完成 CAP1000/CAP1400技术的消化吸收和持续优化，在关键设备国产化、系统性能提升方面取得阶段性成 果。公司自主研发的智慧核电运维系统已在部分机组投入应用，通过数字化监测与智能诊断，有助于提 升设备可靠性，降低运维成本。未来将根据试点反馈优化系统功能，逐步扩大应用范围。未来公司将聚 焦核电数字化、智能化技术迭代，按照数字化规划统筹推进相关领域的研发。 ...

Investment Rating - The report maintains an "Outperform" rating for the public utility and environmental sectors [1][5][8]. Core Insights - The report emphasizes the importance of the "environment + resource" investment logic, highlighting that many environmental companies possess resource attributes, which can lead to stable profit models through the extraction of valuable materials from waste [2][16][18]. - The report notes a decline in the utilization rates of photovoltaic and wind power generation in 2025, with photovoltaic utilization at 94.8% and wind power at 94.3% for the year-to-date [1][14]. Summary by Sections Investment Strategy - Public Utilities: Recommendations include major thermal power companies like Huadian International and Shanghai Electric, as well as leading renewable energy firms such as Longyuan Power and Three Gorges Energy [3][22]. - Environmental Sector: Focus on mature sectors like water and waste incineration, with recommendations for companies like China Everbright Environment and Shanghai Industrial Holdings [3][23]. Market Performance - The report indicates that the Shanghai Composite Index rose by 2.79%, with the public utility index increasing by 2.54% and the environmental index by 3.88% [1][24]. - In the power sector, thermal power saw a 2.40% increase, while renewable energy generation rose by 3.74% [1][25]. Key Data Overview - In November, the national electricity generation reached 779.2 billion kWh, with a year-on-year growth of 2.7% [45]. - The report highlights that the total electricity consumption for the year-to-date is 9,460.2 billion kWh, reflecting a 5.2% increase year-on-year [58]. Company Profit Forecasts and Ratings - Specific companies are highlighted with their respective ratings and financial metrics, such as Huadian International with a PE ratio of 10.2 for 2024 and 8.1 for 2025 [8]. - Other recommended companies include Longyuan Power, Three Gorges Energy, and China Nuclear Power, all rated as "Outperform" [8][22]. Special Research - The report discusses the shift from viewing environmental companies as cost centers to recognizing their potential for value creation through resource recovery and recycling [2][16]. - It also outlines the significant price increases in metals due to geopolitical tensions and supply chain concerns, which could benefit resource-oriented environmental companies [2][21].

据披露，置入的电投核能公司权益装机规模达745万千瓦，电投产融一跃成为继中国核电、中国广核之后，国内权益装机容量排名第三的核电上市公司， 被市场称为 "A股第三大核电巨头"。 不带货是不可能滴 明天（2026年1月13日），A股市场将迎来一笔重磅交易。 根据公告内容：电投产融（000958.SZ）因重大资产重组而增发的119.9亿股新股将正式上市交易。 公司把旗下金融业务打包置出，同时置入国家电投集团旗下的优质核电资产。 这标志着这家上市公司彻底告别金融，All in核电。 变身成为国家电投集团旗下唯一的核电运营资产整合平台，同时也成为登陆A股得第三家核电运营商。 早在12月8日晚间，电投产融就发布《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）》的公告，详细披露了"资产置换+发 行股份购买资产+募集配套资金"的"三步走"转型战略。 这标志着这家上市公司彻底告别金融，All in核电。 变身成为国家电投集团旗下唯一的核电运营资产整合平台，同时也成为登陆A股得第三家核电运营商。 这酒也是核技术哦 想买辐照酒 1.光听过不知道哪里买 2.老是托朋友太耗人情 核趣文创推出[辐照酒代购业务] 做 ...

Core Viewpoint - The asset restructuring of Electric Power Investment Co., Ltd. (000958.SZ) has been completed, transforming it into the nuclear power operation asset integration platform of the State Power Investment Group, enhancing the efficiency of nuclear power asset operations and supporting green development initiatives [1][5]. Group 1: Restructuring Details - The restructuring involved the exchange of financial business for a 100% stake in Guodian Nuclear Power Co., Ltd., with the transaction values being CNY 151.08 billion for the assets being divested and CNY 553.94 billion for the assets being acquired [1][3]. - The difference of CNY 402.85 billion will be settled through the issuance of new shares at a price of CNY 3.36 per share [3]. - The restructuring process began in October 2024, with approvals from the Shenzhen Stock Exchange and the China Securities Regulatory Commission obtained by December 2025 [2]. Group 2: Shareholding Changes - Following the restructuring, the State Nuclear Power will hold 43.62% of Electric Power Investment Co., Ltd., making it the controlling shareholder, while the State Power Investment Group's stake will be diluted to 15.42% [4]. - China Life Insurance has become the second-largest shareholder with a 25.4% stake [4]. Group 3: Financial Impact - The restructuring is expected to significantly boost Electric Power Investment Co., Ltd.'s revenue and net profit, with projected increases of 111.63% and 382.22%, respectively, based on mid-2025 financial data [1][6]. - The total assets of the company are anticipated to reach CNY 1,316.57 billion, reflecting a growth of 166.17% [6]. - The asset-liability ratio is projected to rise from 39.47% to 60.6% post-restructuring [6]. Group 4: Future Commitments - The State Nuclear Power has committed to achieving a net profit of no less than CNY 33.75 billion, CNY 30 billion, and CNY 35.87 billion for the years 2025, 2026, and 2027, respectively, totaling at least CNY 99.62 billion over three years [7]. - The company aims to enhance its overall competitiveness and profitability through resource and business integration following the acquisition [7].

Core Viewpoint - The asset restructuring of Electric Power Investment Co., Ltd. (000958.SZ) has been completed, transforming it into the nuclear power operation asset integration platform of the State Power Investment Group, enhancing the efficiency of nuclear power asset operations and supporting green development [1][4]. Group 1: Restructuring Details - The restructuring involved the exchange of financial assets for a 100% stake in Guodian Nuclear Power Co., Ltd., with the transaction values being CNY 151.08 billion for the assets disposed and CNY 553.94 billion for the assets acquired, resulting in a difference of CNY 402.85 billion to be purchased through share issuance [1][3]. - The share issuance price was set at CNY 3.36 per share, with a total of 119.9 billion new shares to be issued, which will be listed on January 13, 2026 [3][4]. - After the restructuring, the controlling shareholder will change from the State Power Investment Group to Guodian Nuclear Power, while the latter will hold 43.62% of the shares, and China Life will become the second-largest shareholder with a 25.4% stake [4][6]. Group 2: Financial Impact - The restructuring is expected to significantly enhance Electric Power Investment's financial metrics, with projected increases of 111.63% in operating revenue and 382.22% in net profit attributable to shareholders based on the first half of 2025 data [1][7]. - The total assets of the company are projected to reach CNY 1,316.57 billion, reflecting a growth of 166.17% compared to pre-restructuring levels [7][8]. - The asset-liability ratio is anticipated to rise from 39.47% to 60.6% post-restructuring, indicating a higher leverage position [7]. Group 3: Future Commitments and Operations - Guodian Nuclear Power has committed to achieving net profit targets of no less than CNY 33.75 billion, CNY 30 billion, and CNY 35.87 billion for the years 2025, 2026, and 2027 respectively, totaling at least CNY 99.62 billion over three years [8]. - The company aims to fully develop the nuclear power operation asset integration platform, ensuring the sustainability and stability of its business segments while enhancing overall competitiveness and profitability [8].

证券日报网讯 1月9日，电投产融在互动平台回答投资者提问时表示，cosNU软件没有应用于"国和一 号"等核电资产，cosNU软件可用于大型先进压水堆核电站核设计、燃料管理、安全分析、电厂运行分 析，在此基础上可通过软件适用性改进为四代核电提供技术支撑。核能供热技术突破使得大规模、稳 定、经济的核能供热成为现实，为从单纯的"发电"向"发电+供热"的综合能源服务商转型提供了坚实的 技术基础。 （文章来源：证券日报） ...