大唐国际发电股份有限公司 会 议 资 料 目 录 会议议程 会议时间：2025 年 6 月 27 日 上午 9 时 30 分 会议地点：北京市西城区广宁伯街 9 号大唐国际发电股份有限公司（"公 司"或"本公司" ）本部 1616 会议室 见证律师：北京市京都律师事务所 会议议程： 第一项 介绍股东大会的股东及董事、监事出席情况 第二项 与会股东及股东代表听取议案 （一）2024 年年度股东大会审议议案 普通决议案： 特别决议案： 第七项 见证律师宣读《法律意见书》 第八项 与会董事签署会议文件 关于 2024 年度董事会工作报告的议案 普通决议案： （二）2025 第一次 A 股类别股东大会审议议案 特别决议案： （三）2025 第一次 H 股类别股东大会审议议案 特别决议案： 第三项 与会股东及股东代表讨论发言 第四项 与会股东及股东代表投票表决 第五项 宣布现场会议投票统计结果 第六项 宣读会议决议 各位股东及股东代表： "大唐国际"或"公司"）董 事会在全体股东的大力支持下，坚持把深化改革创一流作为统筹高质量 发展、高水平安全、高效益经营的"关键一招"，不断追求卓越，攀登高 峰，经营业绩取得新突破，维 ...

Core Viewpoint - The National Exhibition and Convention Center (Tianjin) has successfully completed a green certificate transaction with two local renewable energy companies, ensuring 100% green electricity supply for the upcoming Summer Davos Forum, which will take place on October 26, 2023 [1][3]. Group 1: Green Electricity Supply - The green electricity supply for the Summer Davos Forum is equivalent to 800,000 kilowatt-hours, which translates to a reduction of 300 tons of standard coal combustion and a decrease of 600 tons of carbon dioxide emissions [1]. - The event emphasizes the theme of "Entrepreneurial Spirit in the New Era," focusing on smart technology, green transformation, and global cooperation, aligning with China's high-quality development strategy [1]. Group 2: Green Certificate System - Green power certificates serve as the only proof of the environmental value of green electricity in China, with one certificate corresponding to 1,000 kilowatt-hours of green power [3]. - The procurement of 800 green power certificates for the forum marks a significant practical application following the international recognition of China's green certificates, promoting diverse participation in green consumption [3][4]. Group 3: Local Renewable Energy Development - The green electricity for the forum is provided by two local renewable energy companies: the world's largest "salt and light complementary" project, Huadian Haijing's 1 million kilowatt salt and light complementary power station, and Huaneng Saida's 12,000 kilowatt rooftop distributed photovoltaic project [3][4]. - The rapid development of the renewable energy industry in Tianjin has led to an increase in the supply of green electricity resources, supported by the Tianjin Summer Davos Forum preparation office and the Tianjin Green Electricity Certificate Service Center [3][4]. Group 4: International Recognition and Market Growth - In March 2023, the international renewable energy initiative RE100 unconditionally recognized China's green certificates, enhancing their international credibility and potentially increasing the green competitiveness of Chinese export products [4]. - The Tianjin Green Electricity Certificate Service Center has facilitated the supply of 7.497 billion kilowatt-hours of green electricity to 214 enterprises, significantly boosting the scale of green certificate transactions in the region [4].

Core Viewpoint - The expansion of China's LNG shipping capabilities marks a significant shift in the global LNG transportation market, previously dominated by South Korean and Japanese companies, as China aims to secure its energy supply and enhance its role in the global LNG industry [1][3][10]. Group 1: Market Position and Challenges - In 2024, China is projected to import 88 million tons of LNG, accounting for 22% of global trade, making it the largest LNG buyer, yet 90% of its LNG is transported by foreign vessels [3][4]. - The technical and financial barriers associated with LNG shipping, including the need for specialized materials and designs to handle extreme low temperatures, have historically limited China's domestic shipbuilding capabilities [4][5]. - China's reliance on foreign shipping has led to significant cost increases, particularly during the European energy crisis, where daily rental rates for LNG vessels surged to $400,000, resulting in additional costs exceeding 10 billion yuan for Chinese importers [4][5]. Group 2: Strategic Initiatives - In 2023, China National Petroleum Corporation (CNPC) announced a 12 billion yuan investment to build four LNG carriers, marking its first large-scale self-built LNG fleet, transitioning from a rental-based model to a dual approach of building and renting [5][6]. - The expansion strategy includes three phases: initially renting vessels to understand operational dynamics, then collaborating with domestic shipbuilders to overcome technical barriers, and finally establishing a global shipping network through partnerships [6][7]. - By 2025, CNPC's fleet is expected to grow from 3 to 20 vessels, increasing annual transport capacity from 1.2 million tons to over 30 million tons, equivalent to an additional 10 billion cubic meters of natural gas annually [7][8]. Group 3: Implications for Energy Security and Governance - The expansion of CNPC's LNG fleet is not just about increasing transport capacity; it is also a strategic move to enhance energy security, allowing for more flexible and responsive supply management during peak demand periods [8][9]. - The initiative supports China's goal of increasing natural gas's share in its energy mix to 55% by 2030, positioning LNG as a key transitional energy source while reducing transportation costs by 20-30% compared to renting [8][9]. - By building its fleet, China aims to gain a stronger voice in global LNG trade rules, including promoting the use of the yuan for LNG transactions and participating in the establishment of international safety standards for LNG shipping [9][10].

Core Viewpoint - The sixth Multinational Corporations Leaders Summit in Qingdao highlights Shandong's role as a strategic hub for multinational companies looking to engage with the Chinese market amid a shifting global economic landscape [1] Group 1: Industrial Foundation - Shandong's comprehensive industrial base and innovative vitality provide an irreplaceable development soil for multinational companies [5] - The province's "smart transformation" and "digital transition" of traditional industries are key collaboration points for multinational firms [5][6] - The establishment of a food technology industrial park by Louis Dreyfus Group in Qingdao exemplifies the rapid project execution known as "Qingdao speed" [5] - An aluminum production facility by Amway Aluminum will supply core materials for strategic emerging sectors like semiconductors and electric vehicle batteries [6] Group 2: Institutional Innovation - Shandong is becoming a "strategic fulcrum" for multinational companies to connect with the Chinese market through institutional openness [7] - The Qingdao Free Trade Zone has attracted 182 projects from Fortune 500 companies, forming industrial clusters in medical equipment and integrated circuits [7] - The "International Investment Cooperation Ecological Circle" model promotes talent, technology, and capital integration, facilitating cross-border operations [7][10] Group 3: Capital Empowerment - Shandong is building a fund ecosystem and cross-border financial services to support multinational companies with comprehensive investment solutions [11] - The Huiru Jinchuan Fund, initiated by Shandong Talent Group and Shandong Guotou, focuses on investing in high-growth enterprises and innovative projects [11] - Cross-border financial services, such as those offered by Hengfeng Bank, are designed to reduce operational costs for multinational companies [12] Group 4: Future Outlook - The integration of digital economy and traditional industries is becoming a new competitive focus, with Huawei's collaboration in developing AI models in Shandong [13] - Sustainable development potential is showcased through collaborations in seawater desalination, reducing costs by 40% through localized technology [16] - Shandong's cooperation with multinational companies is evolving from mere investment to co-creating innovative ecosystems and nurturing new productive forces [16]

Group 1 - China and Europe are enhancing cooperation in ecological and green production, focusing on clean energy and technological innovation to address climate change challenges [1][8] - In Eastern Europe, Chinese companies are investing in clean energy projects, such as the 84 MW wind farm in Bosnia, which generates 259 million kWh annually and reduces CO2 emissions by approximately 240,000 tons [2] - In Croatia, a solar project is underway that will become the largest in the country, expected to generate 165 million kWh and reduce carbon emissions by 150,000 tons annually [2] Group 2 - Portugal is expanding cooperation with China in solar and lithium battery sectors, aiming for a solar capacity of 22 GW by 2030, with a lithium battery factory investment of €2 billion [3] - Chinese electric vehicle brands are gaining popularity in Europe, with companies like BYD and Chery establishing local production facilities [4] - Chinese battery manufacturers, such as CATL, are setting up factories in Germany, Hungary, and Spain, supporting local automotive supply chains [4] Group 3 - China is recognized as a leader in the global electrification process, with calls for Europe to learn from its advancements in solar and energy storage technologies [5] - In Northern Europe, China and Norway are collaborating on green shipping and carbon capture, with significant potential for mutual benefits [6][7] - Various projects, including solar power and electric vehicle manufacturing, are being implemented across Europe, showcasing the extensive reach of China-Europe green cooperation [7][8]

【导读】港交所主席唐家成：香港上市公司数量25年翻3倍 中国基金报记者 郭玟君 6月19日，港股低开低走，恒生指数收跌1.99%，报23237.74点；恒生科技指数跌2.42%，报5088.32点；恒生中国企业指数跌2.13%，报8410.94点。全日大 市成交额为2201亿港元，南向资金净买入额为14.27亿港元。 石药集团跌6.40%，中升控股跌5.94%，阿里健康跌5.26%，领跌蓝筹。 | 序号 | 名称 | 代码 | 现价 | 涨跌 | 涨跌幅 ^ | 成交额 | 年初至今 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 石药集团 | 1093 | 7.610 c | -0.520 | -6.40% | 24.60亿 | 61.26% | | 2 | 中升控股 | 0881 | 11.720 c | -0.740 | -5.94% | 1.03亿 | -16.05% | | 3 | 阿里健康 | 0241 | 4.320 c | -0.240 | -5.26% | 5.15亿 | 30.12% | | 4 | 中国宏桥 | 1378 ...

Group 1: Urbanization and Economic Development - The new urbanization target is set to approach 70% over the next five years[12] - Key actions include promoting the urbanization of agricultural transfer populations and enhancing urban renewal and resilience[12] - Emphasis on developing characteristic industrial clusters and optimizing regional layouts to invigorate potential areas[13] Group 2: State-Owned Enterprise Reform - Four key tasks for deepening state-owned enterprise reform include optimizing the layout of state-owned economy and enhancing management supervision mechanisms[14] - The introduction of Economic Value Added (EVA) accounting will guide state-owned enterprises to focus investments on strategic areas[15] - A new assessment system will be established to align performance indicators with core responsibilities and business objectives[15] Group 3: Green Transformation - A comprehensive green transformation strategy is being deployed, focusing on building a green industrial ecosystem and fulfilling corporate social responsibilities[24] - Increased investment in green technology and sustainable development projects is prioritized, along with international cooperation in green projects[25] Group 4: Market Value Management - The shift from "operating cash ratio" to "operating revenue collection rate" aims to provide a more accurate reflection of income quality[65] - A toolbox for market value management includes mergers and acquisitions, market reforms, and investor relations management[66] - Long-term strategies for market value management will be emphasized, particularly for companies with persistent undervaluation[67]

Group 1: ESG Rating and Performance - Rongsheng Petrochemical's ESG rating has been upgraded from A to AA, the highest rating in the industry, reflecting its leadership in green transformation and sustainable development [1] - The company achieved an overall ESG score of 8.56, with environmental score at 8.47, social score at 5.98, and governance score at 9.63, all surpassing industry averages [1] - The company has been recognized by MSCI, achieving a BBB rating and ranking among the top in the global diversified chemicals industry [1] Group 2: Company Overview - Rongsheng Petrochemical, headquartered in Hangzhou, Zhejiang Province, is a key subsidiary of Zhejiang Rongsheng Holding Group and one of China's leading private petrochemical giants [2] - The company operates an integrated refining and chemical project with a capacity of 40 million tons per year and produces nearly 6 million tons of chemical products across over 50 categories [2] - It ranks 5th in the global chemical brand value list and 8th among the world's top chemical companies [2] Group 3: Sustainable Development Initiatives - The company has published sustainability reports for two consecutive years, focusing on the deep value of petroleum resources and achieving significant milestones in sustainable development [2] - Rongsheng Petrochemical has been recognized as a leader in carbon reduction, water resource management, and corporate governance, being included in the "Hang Seng A-Share Sustainable Development Benchmark Index" for four consecutive years [3] - The company was named the "Energy Efficiency Leader" in the petroleum and chemical industry by the China Petroleum and Chemical Industry Federation for 2023 [3] Group 4: Industry Trends and Investment - The global trend towards stricter ESG disclosure standards is pushing the petroleum and petrochemical industry to enhance its ESG reporting [3] - The transition in the petrochemical sector requires significant funding, making it a target for transition finance, with recent investments in renewable diesel and carbon capture projects in North America and Europe reaching $14.5 billion [3] - Effective ESG disclosure is crucial for building investor confidence and attracting diverse financial resources to the industry [3]

Group 1 - The 2025 Lujiazui Forum in Shanghai emphasizes the importance of capital markets as the core of the modern economic financial system, with participants expressing confidence in China's capital market and long-term economic prospects [1][3] - International attendees highlight the resilience of China's capital market infrastructure and its commitment to openness and international integration, indicating a positive outlook for China's economic future [3][5] - The stability and activity of capital markets are crucial for economic development, with discussions focusing on the need for a stable market environment to attract patient capital and foreign investment for high-quality economic growth [5][7] Group 2 - The chairman of the Shanghai Stock Exchange stresses the need for a dual approach of stabilizing market operations while enhancing market functions, supporting listed companies in utilizing various monetary policy tools effectively [7] - There is a call for continuous improvement in market mechanisms and regulatory efficiency to boost market confidence and facilitate resource allocation towards new industries, business models, and technologies [5][7]

Core Viewpoint - The 2025 Lujiazui Forum in Shanghai highlights the confidence in China's capital market and its long-term economic prospects amidst global challenges [1] Group 1: Capital Market Stability - International attendees express strong confidence in the stability and attractiveness of the Chinese capital market, noting its resilience amid global challenges [1] - The CEO of the UK's Financial Conduct Authority, Nikhil Rathi, emphasizes the robust infrastructure of China's capital market [1] Group 2: Economic Growth and Transformation - Howard Marks, co-founder and co-chairman of Oaktree Capital, remarks on China's steady move towards institutional openness and a high-quality growth model [1] - Marks identifies two key transformations for this growth: green transformation and digital transformation, stating that significant progress has been made in both areas [1]