Core Insights - The conference held on March 31, 2026, in Haikou, Hainan, reviewed the achievements of the power construction industry over the past five years and outlined a systematic deployment for quality and safety work in the next five years [1] - China has become the world's largest country in terms of installed power generation capacity and electricity consumption, with seven core indicators in clean energy and solar power ranking first globally [1] - The country has established the world's largest power grid and is the only nation fully mastering UHV transmission technology, showcasing its strength in manufacturing with over 90% of global photovoltaic components and more than 70% of wind power equipment produced in China [1] Industry Strategy Signals - The national planning has released three strategic signals: a clear signal for system restructuring, the establishment of clean energy bases as a development mainline, and a breakthrough in cross-industry integration [2] - The government will support strategic frontiers like controllable nuclear fusion and new energy storage, with a focus on building 47 clean energy bases as part of a ten-year non-fossil energy doubling action [2] - The integration of energy with digital economy and advanced manufacturing is expected to create significant new growth opportunities during the 14th Five-Year Plan period [2] Key Work Focus for 2026 - The China Electric Power Construction Enterprise Association will focus on five key areas: green transformation, technological innovation, and the implementation of "two optimizations, three innovations, and five breakthroughs" [3] - The association aims to improve the group standard management system and promote the compilation of hundreds of group standards while advancing the national electric power award [3] - Collaboration with local governments will be strengthened, with plans to establish zero-carbon power industrial parks in regions like Shanxi and Changzhi [3] Safety and Development Requirements - The association has outlined five clear requirements for the industry: establishing a safety development concept, accelerating green low-carbon transformation, enhancing technological innovation, improving standardization, and strengthening the workforce [4] - A dual prevention mechanism for risk control and hidden danger investigation will be implemented to ensure zero accidents [4] - The industry is encouraged to integrate green concepts throughout the entire lifecycle of power construction projects and to develop a carbon emission accounting system [4]

Group 1: Market Outlook and Demand - The outlook for cement demand in 2026 is supported by increased infrastructure investment from special bonds and long-term treasury bonds, despite being in a downward trend [2] - National policies since 2025 aimed at capacity reduction and stable growth have laid a solid foundation for supply-demand improvement [2] - Cement prices are expected to fluctuate throughout 2026, with recovery dependent on supply-side adjustments and policy effectiveness [3] Group 2: Production and Capacity Management - The company is actively monitoring and enforcing production limits in the Beijing-Tianjin-Hebei region, with differentiated measures for various levels of overproduction [4] - As of Q1 2026, the company has completed announcements for the replacement of 34 production lines, involving 16 lines being phased out and 18 new lines being introduced [5] Group 3: Strategic Integration and Expansion - The company continues to pursue a strategic layout of "one core, one body, two wings," focusing on mergers and acquisitions to enhance market competitiveness [4] - Recent acquisitions, such as the purchase of Shuangyashan Cement, have filled regional gaps and strengthened market positions [4] Group 4: Carbon Management and Sustainability - The company has established a comprehensive carbon management system, achieving a CO2 emission rate of less than 0.7812 tons per ton of clinker in 2025 [6] - All cement kiln enterprises are now included in the national carbon market, with expectations for carbon revenue based on existing technology and emission reduction effectiveness [6] Group 5: Industry Chain Extension and International Business - The company is developing an integrated "cement+" industry system, focusing on aggregates, ready-mixed concrete, and mortar to enhance resilience and resource utilization [6] - The Mamba company in Northern South Africa has an annual clinker capacity of 870,000 tons and cement capacity of 1 million tons, generating over 100 million RMB in profit [6]

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分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。 （股份編號：0347） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條 作 出。 茲 載 列 鞍 鋼 股 份 有 限 公 司（「 本公司 」）於 二 零 二 六 年 三 月 三 十 一 日 在《 中 國 證 券 報 》、《 證 券 時 報 》、《 上 海 證 券 報 》或 巨 潮 資 訊 網 （http://www.cninfo.com.cn）刊 登 的 以 下 公 告 全 文，僅 供 參 考。 鞍鋼股份有限公司 王 軍 承董事會命 執行董事兼董事長 中國遼寧省鞍山市 二零二六年三月三十日 於 本 公 告 日 期，本 公 司 董 事 會 成 員 如 下： | 執 | 行 | 董 | 事： | | 獨 立 | 非 | 執 | 行 | 董 | 事： | | --- | --- | --- | --- | --- ...

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之 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 概不就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 致之任何損失承擔任何責任。 ( 在中華人民共和國註冊成立的股份有限公司 ) (股份代碼:01088) 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而 做出。 茲載列中國神華能源股份有限公司於 2026 年 3 月 31 日在上海證券交 易所網站(www.sse.com.cn)刊登的「2025 年度報告」等文件，僅供參 閱。 承董事會命 中國神華能源股份有限公司 總會計師、董事會秘書 宋靜剛 北京，2026 年 3 月 30 日 於本公告日期，董事會成員包括執行董事張長岩先生，非執行董事康 鳳偉先生及李新華先生，獨立非執行董事袁國強博士、陳漢文博士及 王虹先生，職工董事焦蕾女士。 1 中国神华能源股份有限公司 2025 年度报告 公司代码：601088 公司简称：中国神华 中国神华能源股份有限公司 2025 年度报告 重要提示 1 一、本公司董事会及全体董事、高级管理人员保证年度报告内容的真实、准 ...

Industry Outlook - The heavy truck industry is expected to reach a scale of approximately 1.2 million units in 2026, driven by policies for replacing old vehicles and structural growth in demand [2] - The industry is anticipated to experience steady growth due to multiple factors including policy support, demand recovery, and investment stimulation [2] Company Performance - The company achieved a compound annual growth rate (CAGR) of 21.9% in production and sales from 2022 to 2025, with a 30.8% year-on-year increase in sales in 2025 [4] - Export business showed significant growth, with 340,900 units exported in 2025, marking a 17.42% increase year-on-year, accounting for nearly 50% of total sales [6] Market Segmentation - The company strengthened its market position in various segments, achieving an 8.4 percentage point increase in market share for diesel express tractors, leading the industry [3] - The company maintained a leading market share in several specialized vehicle segments, including 8×4 dump trucks and electric bulk feed trucks [3] New Energy Vehicles - The domestic new energy heavy truck market saw a significant increase, with sales reaching 231,000 units in 2025, a 182% year-on-year growth [7] - The company sold nearly 18,000 new energy heavy trucks, reflecting a growth of over 190% [7] - The penetration rate of new energy vehicles in the heavy truck sector is expected to exceed 35% [7] Profitability and Margins - The gross margin for complete vehicles declined due to the rapid expansion of the new energy heavy truck segment, which currently has a relatively low profit level [8] - The company plans to enhance gross margins by optimizing the entire value chain and improving production efficiency [8] Future Strategies - The company aims to focus on differentiated competition and enhance R&D capabilities to meet diverse customer needs [5] - Strategies for 2026 include targeting niche markets, promoting new products, and implementing a comprehensive value chain marketing approach [10] Dividend Policy - The company has consistently implemented a stable dividend policy, with cash dividends exceeding RMB 40 billion since 2018 [11] - The dividend payout ratio for 2025 is projected to be 58% of the annual net profit attributable to shareholders, with plans to continue increasing the cash dividend ratio [11]

ANNUAL RESULTS PRESENTATION M A R C H 3 0 , 2 0 2 6 DISCLAIMER This presentation contains forward-looking statements that involve risks and uncertainties. These statements are generally indicated by the use of forward-looking terminology such as "believe", "expect", "anticipate", "estimate", "plan", "project", "target", "may", "will" or other similar words that express an indication of actions or results of actions that may or are expected to occur in the future. You should not place undue reliance on these ...

2026.3.26 Annual Results Board of Directors and Management at Today's Conference Huang Yongzhang Vice Chairman, Executive Director, CEO, President Senior Vice President, CFO Financial Results Yan Hongtao Senior Vice President Mu Xiuping Xu Yugao General Counsel, Chief Compliance Officer, Joint Company Secretary, Secretary to the Board 2 01 02 03 04 Operating Results Remarks Q&A Session 3 Macro Environment 2025 GDP growth rates 3.3% 1.7% 4.4% Global Advanced Economies Emerging Markets and Developing Economie ...

Core Insights - The company is expanding its international business with significant orders in Central Asia and Africa, while also achieving milestones in various projects under the Belt and Road Initiative [2][10]. Group 1: Financial Performance - The company's revenue increased by 10.79% year-on-year, with the railway equipment business contributing 45.27% of total revenue, urban rail and infrastructure at 15.41%, new industries at 37.76%, and modern services at 1.56% [5]. - Specific sales figures include 813 locomotives, 599 passenger cars, 2,181 EMUs, 30,748 freight cars, and 4,582 urban rail vehicles [5]. - Revenue breakdown for railway equipment includes 29.706 billion yuan from locomotives, 8.535 billion yuan from passenger cars, 68.423 billion yuan from EMUs, and 16.943 billion yuan from freight cars [5]. Group 2: International Business Development - The company has signed multiple contracts for international projects, including a strategic cooperation agreement with Hafizet Railway Company for freight cars, and contracts for metro trains in Portugal and Malaysia [9][12]. - Notable contracts also include the supply of locomotives and components to Azerbaijan and Australia, as well as light rail vehicles in Mexico [12]. Group 3: Market Trends and Strategic Planning - The rail transportation equipment industry is experiencing stable growth, transitioning towards high-quality development and deep integration with green and intelligent technologies [10]. - The international business strategy focuses on building an organizational structure that supports international operations, enhancing marketing networks, and expanding overseas market share [11]. - The company aims to optimize its business structure by increasing the share of overseas DLS business and new industries, while establishing a global management model that allows for rapid response and resource synergy [11].

Core Viewpoint - The performance of China's "Big Three" oil companies (China National Petroleum Corporation, Sinopec, and China National Offshore Oil Corporation) showed a decline in both revenue and profit for the year 2025, with a total net profit of 311.19 billion yuan and a planned dividend payout of 165.18 billion yuan [1]. Group 1: Performance Overview - In 2025, the "Big Three" oil companies experienced varying degrees of performance decline due to falling international oil prices, with China National Petroleum Corporation reporting a revenue of 2.86 trillion yuan, a decrease of 2.5%, and a net profit of 157.30 billion yuan, down 4.48% [3]. - Sinopec's revenue fell to 2.78 trillion yuan, a drop of 9.46%, with a net profit of 31.81 billion yuan, down 36.78%, marking four consecutive years of decline [3]. - China National Offshore Oil Corporation reported a revenue of 398.22 billion yuan, a decrease of 5.3%, and a net profit of 122.08 billion yuan, down 11.49%, despite achieving a record high in oil and gas production [3]. Group 2: Dividend Payouts - Despite the decline in performance, the "Big Three" maintained substantial dividend payouts, totaling 165.18 billion yuan to reward investors [4]. - China National Petroleum Corporation announced a total dividend of 0.47 yuan per share (before tax), amounting to 86.02 billion yuan, with a payout ratio of 54.7% [4]. - Sinopec declared a dividend of 0.20 yuan per share (before tax), totaling 24.21 billion yuan, with a cash dividend ratio of 81% after buybacks, the highest among the "Big Three" [4]. - China National Offshore Oil Corporation's dividend was set at 1.28 Hong Kong dollars per share (before tax), totaling approximately 54.95 billion yuan, with a payout ratio of 45% [4].

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之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不就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之任何損失承擔任何責任。 ( 于中華人民共和國註冊成立的股份有限公司 ) (股份代號：01898) 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而發表。 以下為中國中煤能源股份有限公司於上海證券交易所網站刊發之《中國中煤能源股 份有限公司 2025 年年度報告摘要和年報全文》。 承董事會命 中國中煤能源股份有限公司 董事長、執行董事 王樹東 中國 北京 2026 年 3 月 27 日 於本公告刊發日期，本公司的執行董事為王樹東、高士崗和廖華軍；非執行董事為徐倩； 獨立非執行董事為景奉儒、詹豔景和黃江天。 * 僅供識別 中国中煤能源股份有限公司 2025 年年度报告摘要 2025 年年度报告摘要 第一节 重要提示 1. 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规 划，投资者应当到 www.sse.com.cn 网站仔细阅读年度报告全文。 2. 本公司董事会及董事、 ...