Group 1 - The company announced that Ms. Wu Yan'an will resign as an independent non-executive director and a member of the Sustainability Committee on May 8, 2026 [1] - Mr. Bai Liren will be appointed as an independent non-executive director and a member of the Finance and General Affairs Committee, Audit and Risk Committee, and Sustainability Committee starting from February 27, 2026 [1]

中電控股有限公司 | 董事委員會 | | | | | 節 | | --- | --- | --- | --- | --- | --- | | 審核及風險委員會 | （第 | 1 | 頁，共 | 頁） 8 | 內 容 | 審核及風險委員會（「委員會」）由中電控股董事會委任，以代表董事會履 行下述職責： 並按不同事項，在適當的情況下，執行董事會已授權處理的事項或向董事會 作出建議。 2025 年 12 月 31 日更新 1 . 確保充足的內部監控制度得到確立及遵守； 2 . 確保遵守涵蓋財務及非財務匯報的適當會計原則及匯報實務； 3 . 確保內外審計覆蓋範疇及指引均為充足； 4 . 考慮外聘核數師的資格和獨立性； 5 . 確保公司符合任何適用法律及監管的規定； 6 . 確保公司符合上巿當地證券交易所的上巿規定； 7 . 確保整個中電集團遵從適當的商業操守； 8 . 在審計與監控方面，檢討向外聘核數師、內部審計師及股東所作出有 關企業方面的陳述； 9 . 確保中電集團貫徹良好的會計及審計原則、風險管理、內部監控及道 德操守（然而中電附屬公司董事會仍須履行本身的相關責任）； 10 . 促進中電集團內自律守規的風氣，和 ...

Group 1 - The core announcement is that Ms. Wu Yan'an will resign as an independent non-executive director and member of the Sustainability Committee on May 8, 2026 [1] - Mr. Bai Liren will be appointed as an independent non-executive director and member of the Finance and General Affairs Committee, Audit and Risk Committee, and Sustainability Committee starting from February 27, 2026 [1]

中電控股有限公司 CLP Holdings Limited ( 於香港註冊成立的有限公司 ) ( 股份代號： 00002) 董事會名單、角色和職能 中電控股有限公司（「本公司」）董事會與董事委員會作出以下變更，於 2026 年 2 月 27 日 生效： 2) 陳智思先生獲委任為提名委員會成員。 上述變更生效後，本公司的董事會與董事委員會成員，包括彼等的姓名、角色和職能載列如下： | | | 審核及風險 | 提名 | 財務及 | 人力資源及 | 可持續發展 | | --- | --- | --- | --- | --- | --- | --- | | 董事會成員 | 董事委員會 | | | 一般事務 | 薪酬福利 | | | | | 委員會 | 委員會 | 委員會 | 委員會 | 委員會 | | 非執行董事 | | | | | | | | 米高嘉道理爵士(C) | | - | M | - | - | - | | 包立賢先生(VC) | | - | - | C | M | M | | 斐歷嘉道理先生 | | - | - | M | - | M | | 阮蘇少湄女士 | | - | - | M | - | - | ...

( 股份代號： 00002 ) 中電控股宣布 第 1 頁，共 3 頁 香港交易及結算所有限公司及香港聯合交易所有限公司對本公 告 的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公 告 全部或任何部 份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 中電控股有限公司 CLP Holdings Limited ( 於香港註冊成立的有限公司 ) 獨立非執行董事退任和 委任獨立非執行董事及董事委員會成員 中電控股有限公司（「本公司」或「中電控股」）謹此宣布: 吳燕安女士退任 吳燕安女士擬於 2026 年 5 月 8 日舉行之 2026 股東周年大會（「年會」）結束後，退任本 公司獨立非執行董事和可持續發展委員會成員。 吳女士須在 2026 年會上輪值告退，然而吳女士通知本公司，她將不會尋求連任，因此將於 2026 年會結束後退任。 吳女士自 2020 年 10 月開始加入中電控股董事會，她於 2026 年會時，將已連續服務董事會 兩個完整任期，她決定不在 2026 年會上尋求連任，並將退任中電控股董事會職務。吳女 士確認與董事會並無任何爭拗，亦無任何與她退任有關的事項須知會 ...

花旗发布研报称，中电控股(00002)2025年盈利同比下跌10.8%至104.68亿元，较市场预期低6%。撇除一 次性项目，未计公允值变动前的经营盈利同比下跌2.4%至106.85亿元。另外，全年股息同比增加1.6%至 3.2港元，其中第四季股息为1.31港元，同比增加4%。该行目前予目标价76港元及"买入"评级。 该行认为，期内香港业务营运稳健，盈利同比增长7.3%至95.44亿元，占总盈利91%，占比同比上升15 个百分点。不过，澳洲业务经营盈利大幅下跌85.6%至8,500万元，主要受零售市场压力及转型成本影 响，未能被发电及灵活产能收益所抵消。而中国业务盈利则同比下跌13.7%至15.98亿元，新增可再生能 源产能的收益，被核电因市场电价下跌导致的较低贡献所抵消。 ...

该行认为，期内香港业务营运稳健，盈利同比增长7.3%至95.44亿元，占总盈利91%，占比同比上升15 个百分点。不过，澳洲业务经营盈利大幅下跌85.6%至8,500万元，主要受零售市场压力及转型成本影 响，未能被发电及灵活产能收益所抵消。而中国业务盈利则同比下跌13.7%至15.98亿元，新增可再生能 源产能的收益，被核电因市场电价下跌导致的较低贡献所抵消。 智通财经APP获悉，花旗发布研报称，中电控股(00002)2025年盈利同比下跌10.8%至104.68亿元，较市 场预期低6%。撇除一次性项目，未计公允值变动前的经营盈利同比下跌2.4%至106.85亿元。另外，全 年股息同比增加1.6%至3.2港元，其中第四季股息为1.31港元，同比增加4%。该行目前予目标价76港元 及"买入"评级。 ...

Financial Data and Key Metrics Changes - The group's operating earnings before fair value movements decreased by 2% to over HKD 10.6 billion, while total earnings fell by 11% to HKD 11.5 billion due to coal plant-related items affecting comparability [5][7] - Capital investment declined by 13% to HKD 16.4 billion, with higher growth CapEx offset by the absence of the headquarters acquisition booked in 2024 [7][8] - Total dividends for financial year 2025 were HKD 3.20 per share, representing an increase of 1.6% from 2024 [5][7] Business Line Data and Key Metrics Changes - In Hong Kong, core earnings rose by 7% to just over HKD 9.5 billion, driven by capital investment and high operational reliability [9] - In the Chinese mainland, earnings declined by 12% to HKD 1.6 billion, primarily due to lower contributions from Yangjiang Nuclear and renewables [10][11] - EnergyAustralia's operating earnings were impacted by tough retail conditions, resulting in a net operating earning of AUD 85 million [12][14] Market Data and Key Metrics Changes - Electricity send-out in Hong Kong declined by 3%, reflecting lower coal outputs, while non-carbon capacity rose by 3% due to renewables and battery investments [6] - In Australia, intense competition and cost of living pressures led to margin compression and loss of customer accounts [12][14] - The renewable energy market in China added nearly 450 gigawatts of solar and wind in 2025, with the government pledging to reduce emissions by 7%-10% from peak levels [22][24] Company Strategy and Development Direction - The company is focused on energy security and decarbonization, with strategic priorities centered on balanced growth, decarbonization, and financial discipline [21][22] - A HKD 52.9 billion 5-year development plan is being executed to deliver safe, reliable, and affordable power while supporting Hong Kong's economic and infrastructure agenda [21] - The company aims to build durable, recurring earnings while ensuring diversification, with a disciplined approach to capital allocation [22][27] Management's Comments on Operating Environment and Future Outlook - Management noted that the fundamentals of the business remain strong despite market headwinds in China and Australia [3] - The outlook for renewables in China is sound, with market fundamentals stabilizing and tariff pressure looking manageable [11][12] - EnergyAustralia is focused on optimizing its generation portfolio and improving retail margins through targeted customer strategies [14][26] Other Important Information - Free cash flow generation was strong, up HKD 1.6 billion to HKD 22.6 billion, driven by solid EBITDAF and fuel cost recovery [17][18] - The company has a strong financial structure with around HKD 29 billion in available facilities to meet business needs [19][20] - The Clean Energy Fund in China aims to attract partners, including potential insurance companies, to support renewable energy projects [88][89] Q&A Session Summary Question: EnergyAustralia's earnings below expectations and increase in corporate expenses - Management clarified that the increase in depreciation and amortization is recurrent, linked to increased CapEx, while some enterprise expenses are one-off related to IT outsourcing and customer platform contracting [35][39] Question: CapEx outlook for 2026 in Australia and China - Management indicated that CapEx for growth in China will be slightly reduced due to the lowered renewable target, while investments in Australia will depend on project timelines [42][63] Question: Future capital strategy and Clean Energy Fund - The Clean Energy Fund aims to attract partners for renewable energy projects, with a target fund size of around HKD 4 billion [88][89]

Financial Data and Key Metrics Changes - The group's operating earnings before fair value movements decreased by 2% to over HKD 10.6 billion, while total earnings fell by 11% to HKD 11.5 billion due to coal plant-related items affecting comparability [5][7] - Capital investment declined by 13% to HKD 16.4 billion, with higher growth CapEx offset by the absence of the headquarters acquisition booked in 2024 [7][8] - Total dividends for financial year 2025 increased by 1.6% to HKD 3.20 per share [5][7] Business Line Data and Key Metrics Changes - In Hong Kong, core earnings rose by 7% to just over HKD 9.5 billion, driven by capital investment and high operational reliability [9] - In the Chinese mainland, earnings declined by 12% to HKD 1.6 billion, primarily due to lower contributions from Yangjiang Nuclear and renewables [10][11] - EnergyAustralia's operating earnings were impacted by tough retail conditions, resulting in a net operating earning of AUD 85 million [12][14] Market Data and Key Metrics Changes - Electricity send-out in Hong Kong declined by 3%, reflecting lower coal outputs, while non-carbon capacity rose by 3% due to renewables and battery investments [6] - In Australia, intense competition led to a decline in customer accounts, although there was improvement in the second half of the year [12][14] - The Taiwanese and Southeast Asian markets saw earnings decline to HKD 179 million, with higher development and corporate expenses [16] Company Strategy and Development Direction - The company is focused on energy security and decarbonization, with strategic priorities centered on balanced growth, decarbonization, and financial discipline [21][22] - A five-year development plan of HKD 52.9 billion is being executed to deliver safe, reliable, and affordable power while supporting Hong Kong's economic agenda [21] - The company aims to participate selectively in the growth of renewable energy in China, adjusting its development targets from 6 GW to 5 GW by 2030 [22][23] Management's Comments on Operating Environment and Future Outlook - Management noted that the fundamentals of the business remain strong despite market headwinds in China and Australia [3] - The outlook for renewables in China is sound, with market fundamentals stabilizing and tariff pressure manageable [11] - EnergyAustralia is focused on optimizing its generation portfolio and improving retail margins through targeted strategies [14][25] Other Important Information - Free cash flow generation was strong, increasing by HKD 1.6 billion to HKD 22.6 billion, driven by solid EBITDAF and fuel cost recovery [17][18] - The financial structure remains strong, with a slight increase in net debt and around HKD 29 billion in available facilities [19][20] Q&A Session Summary Question: EnergyAustralia's earnings below expectations and increase in corporate expenses - Management clarified that the increase in depreciation and amortization is recurrent, linked to increased CapEx, while some enterprise expenses are one-off related to IT outsourcing and new customer platforms [38][39] Question: CapEx outlook for 2026 in Australia and China - Management indicated that CapEx for growth in China will be slightly reduced due to the lowered renewable target, while investments in Australia will depend on project timelines [42][63] Question: Long-term planning for India and capital allocation - Management confirmed a target of 9 GW of non-carbon projects by 2030, maintaining a capital allocation of HKD 6 billion per annum [52][53] Question: Yallourn coal-fired plant closure and future investments - Management plans to retire Yallourn by mid-2028 and will focus on capital allocation for flexible capacity projects in Australia [58][63] Question: Customer upgrade timeline and wholesale energy segment performance - Management stated that the customer platform upgrade is expected to take about two years, while volatility in the wholesale market is being captured through investments in energy storage [100][104]

Financial Data and Key Metrics Changes - The group's operating earnings before fair value movements decreased by 2% to over HKD 10.6 billion, while total earnings fell by 11% to HKD 11.5 billion due to coal plant-related items affecting comparability [5][7] - Capital investment declined by 13% to HKD 16.4 billion, with higher growth CapEx offset by the absence of the headquarters acquisition booked in 2024 [7][9] - Total dividends for financial year 2025 were HKD 3.20 per share, representing an increase of 1.6% from 2024 [5][8] Business Line Data and Key Metrics Changes - In Hong Kong, core earnings rose by 7% to just over HKD 9.5 billion, driven by capital investment and high operational reliability [10] - In the Chinese mainland, earnings declined by 12% to HKD 1.6 billion, primarily due to lower contributions from Yangjiang Nuclear and renewables [11] - EnergyAustralia's operating earnings were AUD 85 million, impacted by tough retail conditions and one-off tax expenses [16] Market Data and Key Metrics Changes - Electricity send-out in Hong Kong declined by 3%, reflecting lower coal outputs, while non-carbon capacity rose by 3% due to renewables and battery investments [5][6] - In Australia, intense competition led to a decline in customer accounts, while the retail sector faced margin compression and higher bad debts [13][16] - In India, reported earnings were down 29% due to a one-off impairment, but underlying operating earnings improved with higher output from renewables [17] Company Strategy and Development Direction - The company is focused on energy security and decarbonization, with strategic priorities centered on balanced growth, decarbonization, and financial discipline [23] - A HKD 52.9 billion 5-year development plan is being executed to deliver safe, reliable, and affordable power while supporting Hong Kong's economic agenda [23][24] - The company is targeting growth in fast-growing energy transition markets, with a disciplined approach to investments that meet minimum return requirements [24][25] Management's Comments on Operating Environment and Future Outlook - Management noted that the fundamentals of the business remain strong despite market headwinds in China and Australia [3] - The outlook for renewables is sound, with market fundamentals stabilizing and tariff pressure looking manageable [12] - Management emphasized the importance of operational excellence and digital transformation to meet the demands of a rapidly evolving energy sector [31] Other Important Information - Free cash flow generation was strong, up HKD 1.6 billion to HKD 22.6 billion, driven by solid EBITDAF and fuel cost recovery [19][20] - The financial structure remains strong, with a slight increase in net debt and around HKD 29 billion in available facilities [20][21] Q&A Session All Questions and Answers Question: EnergyAustralia's earnings below expectations - The increase in depreciation and amortization is recurrent, linked to increased CapEx, while enterprise expenses are more one-off related to IT outsourcing and customer platform contracting [41][42] Question: CapEx for growth in Australia and China - CapEx is mainly for Chinese renewable projects and EnergyAustralia's wind battery, with expected returns aligned with hurdle rates [45][46] Question: Long-term planning for India and capital allocation - The target for non-carbon projects in India is consistent with previous plans, maintaining a capital allocation of HKD 6 billion per annum [56][57] Question: Yallourn coal-fired plant closure - The current plan is to retire Yallourn by mid-2028, with capital allocation in China expected to be slightly reduced due to the lower target [62][66] Question: Customer upgrade timeframe in Australia - The current plan for the customer platform upgrade is to take about 2 years, targeting completion before the end of 2028 [105]