Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints of the Report - The heating industry is undergoing rapid transformation, with trends towards energy - saving, clean heating, digitalization, and technological innovation [23]. - The company has achieved a significant reduction in operating costs and financing costs in 2024 by strengthening financing control and optimizing the capital structure [26]. 3. Summary by Relevant Catalogs 3.1. Research Basic Information - The research object is Huatong Thermal Power, belonging to the public utilities industry. The reception time was July 30, 2025, and the company's reception staff included the deputy general manager and the secretary of the board, Xie Lingyu [16]. 3.2. Detailed Research Institutions - The research institutions include China Enterprise Planning Institute, Daqin Fund, Shenzhen Qianhai Guojin, Jiangsu Bank, Zhongtou Wanfang Beijing, Beijing Guotou Taikang Trust Investment, Beijing Xinrongheng, Beijing Tianxiang, Jintai Capital, Beijing Sanhe Hongxin, and Beijing Qingqingyuanzhongkui Consulting [17]. 3.3. Main Content Information - **Net profit increase in Q1 2025**: The company's main business is heating supply, with strong seasonal characteristics. Revenue is concentrated in the first and fourth quarters, while equipment procurement and maintenance expenses are evenly distributed throughout the year [23]. - **Challenges and responses in the energy industry**: The heating industry is experiencing rapid innovation, with trends including energy - saving and emission - reduction, clean heating, digitalization, and technological innovation. Companies are expected to explore zero - carbon heating technologies [23]. - **Cooling technology**: The company provides comprehensive energy services including cooling. The cooling source uses a combination of new energy sources, which has higher cooling efficiency and is more energy - saving and environmentally friendly than traditional central air - conditioning. The pricing of cooling projects is determined through negotiation between supply and demand [25]. - **Change in financing costs**: In 2024, the company's operating costs and financial expenses decreased significantly due to strengthened financing control and optimized capital structure [26].

Group 1 - The company Jingneng Thermal Power (SZ 002893) announced that it will accept investor research from Daqin Fund and others on July 30, 2025, with the participation of Vice General Manager and Board Secretary Xie Lingyu [2] - For the year 2024, the company's revenue composition is entirely from heat production and supply, accounting for 100.0% [2]

Group 1: Financial Performance - The net profit for the first quarter of 2025 increased significantly compared to the previous year, attributed to the seasonal nature of the heating supply business, with major revenues concentrated in the first and fourth quarters [1] - The total operating costs and financial expenses for 2024 decreased significantly due to improved financing management and optimized capital structure [4] Group 2: Industry Challenges and Strategic Responses - The heating industry is undergoing rapid innovation, with significant market potential and increasing market competition, necessitating a shift towards intelligent and green heating solutions [2] - Energy conservation and emission reduction remain critical directions for the heating industry, with a focus on technology research and application promotion [2] - The transition to clean heating is becoming a guiding principle, emphasizing the integration of new energy sources with traditional energy [2] - Digitalization is emerging as a core competitive advantage, with data accumulation and algorithm iteration capabilities being crucial for long-term success [2] - Technological innovation is essential for industry development, with a focus on renewable energy and sustainable practices to meet growing energy demands [2] Group 3: Cooling Technology and Services - The company provides comprehensive energy services, including heating and cooling, utilizing various energy coupling methods to enhance efficiency and environmental benefits [3][4] - The cooling projects utilize ground-source heat pumps and other new energy sources, offering higher cooling efficiency compared to traditional central air conditioning [4] - Pricing for cooling services is determined through a market adjustment mechanism based on negotiations between supply and demand [4]

Group 1 - The company has approved a cash dividend distribution plan for the year 2024, amounting to 26,891,280 yuan, with no stock dividends or capital increases from reserves [1] - The cash distribution will be 1.02 yuan per 10 shares for all shareholders, based on a total share count of 263,640,000 shares after excluding repurchased shares [1][2] - The record date for the dividend distribution is set for June 25, 2025, and the ex-dividend date is June 26, 2025 [2] Group 2 - The distribution will be directly credited to the shareholders' accounts through their securities companies or other custodians [2] - The dividend tax treatment varies for different types of investors, with specific rates for QFII, RQFII, and individual investors holding pre-IPO restricted shares [1][2] - The company has outlined that any adjustments to the distribution ratio will be made if there are changes in the share capital before the record date [1]

证券代码：002893 证券简称：京能热力 公告编号：2025-038 北京京能热力股份有限公司 2024年年度权益分派实施公告 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。 北京京能热力股份有限公司（以下简称"公司"或"本公司"）2024年年 度权益分派方案已获2025年5月20日召开的2024年年度股东会审议通过，现将权 益分派事宜公告如下： 一、股东会审议通过权益分配方案的情况 1、股东会审议通过的权益分配方案为：以2024年12月31日公司总股本 263,640,000股为基数，向全体股东派发现金股利每10股1.02元（含税），共计 派发现金26,891,280元；不送红股，不以公积金转增股本，剩余未分配利润结转 下一年度。上述利润分配方案后至权益分派实施公告确定的股权登记日前公司 股本发生变动的，将按照分配总额不变的原则对分配比例进行调整。 2、本分配方案自披露至实施期间，公司股本总额未发生变化。 3、本次实施的权益分配方案与公司2024年年度股东会审议通过的分配方案 一致。 4、本次实施分配方案距离2024年年度股东会审议通过的时间未超过两个月。 ...

证券代码：002893 证券简称：京能热力 公告编号：2025-037 北京京能热力股份有限公司 2024 年 12 月 11 日，公司 2024 年度第一期定向资产支持商业票据在中国银 行间市场完成发行，发行总额为 2 亿元人民币（其中，优先级 19,000 万元，发 行期限为 180 日；次级 1,000 万元，发行期限为 358 日），募集资金已于 2024 年 12 月 12 日到账。具体内容详见公司于 2024 年 12 月 19 日在信息披露媒体和巨 潮资讯网（www.cninfo.com.cn）披露的《关于发行定向资产支持商业票据的进展 公告》（公告编号：2024-065）。 二、终止并完成兑付的相关安排 根据公司经营及融资结构调整的需要，公司本次终止定向资产支持商业票 据，以 2025 年 6 月 10 日作为兑付日，向投资人进行兑付，投资人获得全额本金 及截至兑付日（不含当日）的全部收益，定向资产支持商业票据于该日宣告终止。 三、对公司的影响 本次终止北京京能热力股份有限公司 2024 年度第一期定向资产支持商业票 据，不会对公司生产经营产生实质影响，不存在损害公司及股东利益的情形。 特此公 ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 北京京能热力股份有限公司（以下简称"公司"）董事会于 2025 年 5 月 30 日收到公司董事兼总经理吴佳滨先生的书面辞职报告。吴佳滨先生因工作调动原 因，申请辞去公司第四届董事会董事、董事会战略委员会委员及总经理职务，辞 职后不再担任公司其他任何职务。截至本公告披露日，吴佳滨先生及其配偶或其 他关联人未持有公司股份。 根据《公司法》《公司章程》等相关法律法规的规定，吴佳滨先生辞去上述 职务后，不会导致公司董事人数低于法定最低人数，亦不会影响公司经营管理层 规范运作和正常经营，其辞职报告自送达董事会之日起生效。公司将根据相关法 律法规及《公司章程》要求，尽快补选董事、选聘新任总经理。鉴于新任总经理 的聘任工作需经过相应的法定程序，后续将由公司董事长付强先生代为履行总经 理职责，直至公司聘任新任总经理为止。 截至本公告披露日，吴佳滨先生及其关联人均未持有公司股份，不存在应当 履行而未履行的承诺事项。吴佳滨先生在任职期间恪尽职守、勤勉尽责，公司及 董事会对吴佳滨先生在任职期间做出的贡献表示衷心地感谢。 特此公告。 ...

Group 1: Supply Chain and Pricing - The primary raw material for heating in Beijing is natural gas, with the main supplier being Beijing Gas Group Co., Ltd. The payment method is a prepaid card system, similar to residential natural gas purchases. The heating price is government-regulated, with a rigid pricing structure for residents and a subsidy policy that adjusts based on fuel price fluctuations [2][3]. Group 2: Energy Efficiency and Technological Upgrades - The company is focusing on energy-saving, green, and carbon-reduction technology upgrades. This includes the development of smart heating management systems, which enhance efficiency through data analysis and optimization of operations [3]. - The company is also engaged in comprehensive energy supply and cooling applications, with projects like the Zhongguancun Life Science Park Phase III and the Zhuxinzhuang Comprehensive Energy Utilization Center, which aim to diversify energy services and strengthen core competitiveness [3]. Group 3: Market Value Management - The company plans to enhance market value management through cash dividends, equity incentives, and mergers and acquisitions, focusing on value creation and improving the company's fundamentals [4]. - Strategies include effective communication with investors and timely information disclosure to boost investor confidence and company image [4]. Group 4: Competition and Future Development - Following the acquisition by Jingneng Group, the company is addressing potential competition by committing to resolve any conflicts within 60 months, ensuring compliance with legal standards [4]. - Future goals include exploring various renewable energy heating methods and expanding market presence both within and outside Beijing, targeting economically developed areas for better market efficiency [4].

Group 1: Supply and Pricing - The primary raw material for heating in Beijing is natural gas, with the main supplier being Beijing Gas Group Co., Ltd. The payment model is similar to a prepaid card system for residents [1] - The heating price in Beijing is government-regulated, with a rigid pricing structure for residential heating and a subsidy policy that adjusts based on fuel price fluctuations [2] Group 2: Energy Efficiency and Technology Upgrades - The company is enhancing energy efficiency through smart heating management, optimizing the entire heating system from sources to user terminals, and establishing a data-driven command center [2] - Ongoing projects include comprehensive energy applications, such as the Zhongguancun Life Science Park Phase III and the Zhuxinzhuang Comprehensive Energy Utilization Center, which aim to diversify energy services and strengthen core competitiveness [2] Group 3: Market Value Management - The company plans to utilize cash dividends, equity incentives, and mergers to enhance market value, focusing on value creation and improving the company's fundamentals [3] - Active communication with investors through various platforms is emphasized to convey positive signals and boost investor confidence [3] Group 4: Competition and Future Development - The company is addressing potential competition from subsidiaries of Jingneng Group, with a commitment to resolve any conflicts within 60 months of acquiring control [3] - Future goals include exploring various renewable energy heating methods, expanding market presence both within and outside Beijing, and leveraging capital platforms for financing [3]

证券代码：002893 证券简称：京能热力 公告编号：2025-035 北京京能热力股份有限公司 关于选举公司第四届监事会主席的公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 附件：周建裕先生简历 2025 年 5 月 20 日，公司召开 2024 年年度股东会，根据公司控股股东北京 能源集团有限责任公司提名，选举周建裕先生为公司第四届监事会监事。同日， 公司召开了第四届监事会第九次会议，审议通过了《关于选举公司第四届监事会 主席的议案》，一致同意选举周建裕先生（简历见附件）为公司第四届监事会主 席，任期自监事会审议通过之日起至第四届监事会届满之日止。 特此公告。 北京京能热力股份有限公司 监事会 2025 年 5 月 21 日 北京京能热力股份有限公司（以下简称"公司"）监事会于 2025 年 4 月 25 日收到监事会主席李海滨先生提交的辞职报告，李海滨先生因达到退休年龄，申 请辞去公司第四届监事会主席及监事职务。根据《公司法》《公司章程》的相关 规定，李海滨先生的辞职将导致公司监事成员人数低于法定最低人数 3 人，其辞 职报告将在股东会补选监事任职 ...