Group 1: Business Structure and Revenue Composition - The company's main business segments include industrial energy-saving services (approximately 50% of revenue), building energy-saving services (approximately 30% of revenue), urban lighting energy-saving services, and comprehensive resource utilization services [2] - The total scale of the South Network War New Fund is 5 billion yuan, with an initial subscription scale of 2 billion yuan, of which the company subscribes 100 million yuan, accounting for 5% of the initial subscription scale [2] Group 2: Impact of New Energy Market Entry - The company's existing projects are not significantly affected by the new energy pricing reform, as the average consumption rate of over 400 energy-saving and carbon-reduction projects remains high [3] - New projects may face competitive pressure due to declining grid connection prices, necessitating stricter cost control measures [3][4] Group 3: Asset Impairment and Management - The significant asset impairment in biomass projects is attributed to reduced renewable energy subsidies and ongoing losses due to fuel prices and cash flow shortages [5][6] - The company has made sufficient impairment provisions for projects facing bankruptcy, while other projects are expected to maintain sustainable operations without further large impairments in 2025 [6] Group 4: Strategic Transition - The company plans to shift its business structure from "investment holding" to a dual focus on "investment holding + high-end services" to mitigate risks and enhance market valuation [7][8] - This transition is driven by the urgent need for low-carbon, efficient energy solutions and the growing demand for comprehensive energy services [7][8]

证券代码：003035 证券简称：南网能源 公告编号：2025-007 南方电网综合能源股份有限公司 关于孙公司申请破产的进展公告 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。 为了进一步优化业务布局，提升上市公司可持续发展能力，南方电网综合能 源股份有限公司（以下简称"南网能源公司"或"公司"）向法院申请孙公司阳 山南电生物质发电有限公司（以下简称"阳山南电公司"）和广西南能昌菱清洁 能源有限公司（以下简称"南能昌菱公司"）破产，具体情况详见公司于 2024 年 12 月 21 日披露的《关于拟申请孙公司破产的公告》。根据《深圳证券交易所股 票上市规则》有关规定，现将有关进展情况公告如下： 一、进展情况 二、其他相关情况 截至本公告披露日，广西壮族自治区防城港市中级人民法院已对公司申请南 能昌菱公司破产案件予以立案，公司尚未收到法院送达的书面文件；公司向广东 省清远市中级人民法院递交了阳山南电公司破产申请材料，目前仍处于立案审查 阶段。 | 账户名称 | 开户行 | 账号 | 账户性质 | 实际冻结金额 | | | --- | --- | --- | -- ...

Investment Rating - Buy (Maintained) [1] Core Views - The company is strategically exiting the biomass business to focus on its core energy-saving advantages, which is expected to improve resource allocation and enhance financial statement quality [7] - The company's 2024 performance is significantly impacted by impairments related to biomass assets, with a projected net profit loss of 400-800 million yuan, a year-on-year decrease of 112 87%-125 75% [7] - The company plans to focus on building energy efficiency and industrial energy efficiency in 2025, aiming to expand into multi-energy coordination and high-end services, strengthen energy-saving and carbon reduction core sectors, and pursue mergers and acquisitions to enhance value [7] Financial Performance and Projections - Revenue for 2022 was 2,888 million yuan, with a year-on-year growth of 10 29%, while 2023 revenue was 2,988 million yuan, growing by 3 46% [1] - Net profit attributable to the parent company in 2022 was 553 91 million yuan, increasing by 15 65%, but in 2023, it dropped to 310 74 million yuan, a decrease of 43 90% [1] - For 2024, the company expects a net profit loss of 59 15 million yuan, but forecasts a recovery to 371 43 million yuan in 2025 and 496 61 million yuan in 2026 [1] - The company's EPS for 2022 was 0 15 yuan per share, dropping to 0 08 yuan in 2023, and is expected to be -0 02 yuan in 2024, with a recovery to 0 10 yuan in 2025 and 0 13 yuan in 2026 [1] Strategic Adjustments - The company is exiting the biomass business due to challenges such as fuel shortages, price inversions, and cash flow issues, which have negatively impacted profitability and financial statement quality [7] - The company has applied for bankruptcy for its biomass subsidiaries, Naneng Changling and Yangshan Nandian, to optimize resource allocation and reduce losses [7] - The company plans to focus on energy-saving businesses, particularly in building and industrial energy efficiency, and aims to expand into multi-energy coordination and high-end services [7] Market Data - The closing price of the company's stock is 4 13 yuan, with a one-year low of 3 90 yuan and a high of 5 45 yuan [5] - The company's market capitalization is 15,643 94 million yuan, with a P/B ratio of 2 28 [5] - The company's total assets are projected to grow from 18,383 million yuan in 2023 to 23,390 million yuan in 2026 [8] Financial Ratios and Metrics - The company's gross margin is expected to improve from 33 26% in 2023 to 39 41% in 2026 [8] - The company's ROE is projected to recover from -0 84% in 2024 to 6 28% in 2026 [8] - The company's P/E ratio is expected to decrease from 50 34 in 2023 to 31 50 in 2026 [8]

证券代码：003035 证券简称：南网能源 公告编号：2025-005 南方电网综合能源股份有限公司 关于 2025 年第一次临时股东大会决议的公告 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。 特别提示： 1、本次股东大会不存在否决提案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 3、会议召开方式：采取现场投票和网络投票相结合的方式； 4、会议召集人：公司董事会； 5、会议主持人：公司董事长宋新明先生； 6、本次会议的召集、召开符合有关法律、行政法规、部门规章、规范性文 件和公司章程等的规定。 （二）会议出席情况 一、会议召开和出席情况 （一）会议召开情况 1、会议召开时间 现场会议召开时间：2025年1月21日（星期二）下午15:30； 网络投票时间：2025年1月21日（星期二），其中，通过深圳证券交易所交 易系统进行网络投票的具体时间为2025年1月21日（星期二）上午9:15-9:25、 9:30-11:30，下午13:00-15:00；通过深圳证券交易所互联网投票系统进行网络 投票的具体时间为2025年1月21日（星期二）上午9 ...

北京浩天律师事务所 关于南方电网综合能源股份有限公司 2025 年第一次临时股东大会之法律意见书 2、《南方电网综合能源股份有限公司股东大会议事规则》； 致：南方电网综合能源股份有限公司 北京浩天律师事务所（以下简称"本所"）受南方电网综合能源股份有限公司（以 下简称"南网能源"或"公司"）委托，指派律师出席南网能源 2025 年第一次临时股东大 会（以下简称"本次股东大会"或"本次会议"），并就本次股东大会的召集、召开 程序、召集人和出席会议人员资格、表决程序、表决结果的有效性及合法性等事项发 表法律意见。 本所依据《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》"）、《上市公司股东大会规则（2022 年修订）》 （以下简称"《股东大会规则》"）、《中国证券登记结算有限责任公司上市公司股东 大会网络投票业务实施细则》《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（2023 年 12 月修订）》及中华人民共和国其他相关法律、法规、规 章及规范性文件（以下简称"中国法律"）以及南网能源《公司章程》之规定，出具本 法律意见书。 为出具本法 ...

Core Viewpoints - China is steadily advancing the green and low-carbon transformation of its energy sector, optimizing industrial structure, and promoting carbon reduction, pollution reduction, green expansion, and economic growth, with the "dual carbon" goals becoming a green engine for high-quality economic development [1] - Southern Power Grid Energy (南网能源) is a leading company in the comprehensive energy sector, continuously expanding its energy-saving services and helping clients reduce carbon emissions by 10.29 million tons [1] - The company is accelerating the optimization of its core business layout, shifting from a focus on "investment and holding" to a dual focus on "investment and holding + high-end services," and expanding from "comprehensive energy" to "comprehensive energy + energy-saving and carbon reduction" [1] - Green and low-carbon development is driving the energy transition, creating opportunities in energy-saving retrofits and energy efficiency services [1] - The company has implemented over 1,550 energy-saving projects, covering 9.85 million square meters of building service area and managing 784 million kWh of electricity [1] Business Strategy and Optimization - The company is optimizing its asset structure, focusing on high-quality assets, enhancing high-end service capabilities, and building a technology-driven enterprise [1] - The company is addressing challenges in the biomass sector, such as fuel shortages and cash flow issues, by strategically clearing assets [2] - The financial strategy emphasizes improving investment returns, maintaining healthy cash flow, and enhancing overall operational quality and profitability [2] Technological Innovation and Digital Transformation - The company is accelerating digital transformation, investing in AI and standardized energy-saving systems, and building a digital foundation to support service and business model innovation [3] - The company aims to achieve breakthroughs in comprehensive energy technology and products, and to innovate business models to enhance its development capabilities [3] Market Value Management and Shareholder Returns - The company has established a market value management system, including equity incentives, employee stock ownership plans, mergers and acquisitions, share repurchases, and cash dividends, in response to regulatory guidance [3] - The company plans to complete an interim dividend distribution before the Spring Festival, demonstrating its commitment to shareholder returns [3] Industry and Market Influence - The company has a strong market influence and brand recognition in the energy-saving sector, supporting national initiatives such as the creation of energy-efficient government offices [2] - The company is promoting the large-scale, high-end, and high-quality development of its energy-saving business, extending services to carbon reduction and helping clients explore energy-saving and carbon-reduction potential [2]

南方电网综合能源股份有限公司 市值管理制度 （2025 年 1 月） 第一章 总 则 第一条 为加强南方电网综合能源股份有限公司（以下简称"公司"）市值 管理工作，切实推动公司投资价值提升，增强投资者回报，维护公司、投资者及 其他利益相关者的合法权益，根据《中华人民共和国公司法》《中华人民共和国 证券法》《国务院关于加强监管防范风险推动资本市场高质量发展的若干意见》 《上市公司信息披露管理办法》《上市公司监管指引第 10 号——市值管理》《关 于改进和加强中央企业控股上市公司市值管理工作的若干意见》等法律法规、规 范性文件和《南方电网综合能源股份有限公司章程》的规定，结合公司实际情况， 制定本制度。 第二条 本制度所指市值管理，是指公司以提高上市公司质量为基础，为提 升公司投资价值和股东回报能力而实施的战略管理行为。公司应当以高质量发展 为基本前提，稳步提升经营效率和盈利能力，着力将公司打造为经营业绩佳、创 新能力强、治理体系优、市场认可度高的一流上市公司。 （五）诚实守信原则：公司在市值管理活动中应当注重诚信、坚守底线、担 当责任，营造健康良好的市场生态。 第三条 公司应当完整准确全面贯彻新发展理念，立足中 ...

2024 年中期利润分配实施公告 证券代码：003035 证券简称：南网能源 公告编号：2025-003 南方电网综合能源股份有限公司 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。 南方电网综合能源股份有限公司（以下简称"公司"、"本公司"）2024 年 中期利润分配方案已获 2024 年 12 月 19 日召开的 2024 年第二次临时股东大会 审议通过，现将权益分派事宜公告如下： 一、股东大会审议通过权益分派方案的情况 1、本公司 2024 年中期利润分配方案为：以总股本 3,787,878,787 股为基 数，向全体股东每 10 股派现金红利 0.06 元（含税），共计分配现金红利约 22,727,272.72 元，不送红股，不以资本公积金转增股本。 2、本次实施的分配方案与 2024 年第二次临时股东大会审议通过的分配方案 及其调整原则一致。 3、若公司股本总额在分红预案披露后至分红方案实施期间因新增股份上市、 股权激励授予行权、可转债转股、股份回购等事项而发生变化的，分配比例将按 分派总额不变的原则相应调整。自分配方案披露至实施期间公司总股本未发生 ...

证券代码：003035 证券简称：南网能源 公告编号：2025-001 南方电网综合能源股份有限公司 关于二届二十九次董事会会议决议的公告 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。 一、董事会会议召开情况 表决结果：9 票同意、0 票反对、0 票弃权。 （二）审议通过《关于南方电网综合能源股份有限公司右江区那茶现代设 施农业基地综合能源项目投资事项的议案》 公司第二届董事会战略与投资委员会第七次会议已于 2025 年 1 月 16 日审议 通过本议案。 表决结果：9 票同意、0 票反对、0 票弃权。 南方电网综合能源股份有限公司（以下简称"公司"）二届二十九次董事会 会议于 2025 年 1 月 9 日以电子邮件等形式发出会议通知，于 2025 年 1 月 17 日 （星期五）在广州市天河区华穗路 6 号楼会议室以现场+视频方式召开。 会议应出席董事 9 名，实际出席董事 9 名。董事长宋新明先生召集并主持本 次会议，公司部分监事及部分高级管理人员列席了会议。本次会议为临时董事会 会议，会议参与表决人数及召集程序符合《中华人民共和国公司法》和《南方电 网 ...

Financial Performance Decline - Net profit attributable to shareholders is expected to be a loss of 40 million to 80 million yuan, a year-on-year decrease of 112.87% to 125.75%[2] - The company's profit from operations is expected to be between 8 million and 12 million yuan, a year-on-year decrease of 97.35% to 98.23%[2] - The company's basic earnings per share are expected to be a loss of 0.01 to 0.02 yuan per share, compared to a profit of 0.08 yuan per share in the same period last year[2] - The company's net profit after deducting non-recurring gains and losses is expected to be a loss of 74 million to 114 million yuan, a year-on-year decrease of 124.19% to 137.27%[2] Impact of Inefficient Assets - The company's performance decline is mainly due to the impact of inefficient assets such as biomass comprehensive resource utilization business, with a reduction in net profit attributable to shareholders of approximately 210 million yuan due to the verification of renewable energy price subsidies for biomass power generation projects[5] - The company's net profit attributable to shareholders was reduced by approximately 288 million yuan due to the recognition of asset impairment losses and the provision for impairment of biomass project assets[5] - The company's net profit attributable to shareholders was reduced by approximately 92 million yuan due to the provision for impairment of entrusted loans to two biomass project subsidiaries[6] Business Transformation and Strategic Planning - The company is promoting business transformation and upgrading, and has formulated a strategic plan for key execution in 2025[7] - The company is applying for bankruptcy of two biomass project subsidiaries to reduce the impact of biomass comprehensive resource utilization business on overall performance[7] Investor Information and Risk Disclosure - The company will strictly follow relevant laws and regulations to disclose information in a timely manner, and investors are advised to make decisions carefully and pay attention to investment risks[9]