Group 1 - The core viewpoint of the news is that China Power (600482) is experiencing significant growth in its business performance for 2024, driven by the robust demand in the marine industry, particularly in the low-speed diesel engine sector [1][2] - In 2024, the company achieved a total operating revenue of 51.697 billion yuan, representing a year-on-year increase of 14.62%, and a net profit attributable to shareholders of 1.391 billion yuan, which is a substantial year-on-year growth of 78.43% [1] - The company has successfully established a global service network for diesel engine after-sales services, which is expected to provide a stable revenue source, with service revenue projected to reach 1.5 billion yuan in 2024, a 25% increase year-on-year [2] Group 2 - China Power has completed the acquisition of equity in China Shipbuilding Diesel Engine, enhancing the synergy within its diesel engine business and optimizing its asset structure [3] - The company is actively developing new energy power systems, including methanol dual-fuel and ammonia fuel engines, to meet international emission reduction requirements and seize opportunities in the green ship market [3] - With the ongoing recovery in the global shipbuilding industry and the acceleration of the green ship transformation trend, China Power is positioned to strengthen its market leadership and achieve long-term stable growth in performance [3]

Core Viewpoint - The shipbuilding industry in China is experiencing a sustained high level of prosperity, significantly benefiting the leading company in the ship power sector, China Power (600482.SH), which reported substantial growth in its financial performance in the first quarter of 2025 [1][2]. Financial Performance - In Q1 2025, China Power achieved an operating revenue of 12.311 billion yuan, a year-on-year increase of 7.98%, and a net profit of 396 million yuan, up 348.96%. The non-recurring net profit reached 375 million yuan, reflecting a remarkable growth of 600.41% [1][2]. - For the full year 2024, the company reported an operating revenue of 51.697 billion yuan, a 14.62% increase, and a net profit of 1.391 billion yuan, which is a 78.43% rise [2]. Industry Context - The global shipbuilding market is in a high prosperity cycle, with China's shipbuilding completion volume reaching 48.18 million deadweight tons in 2024, a 13.8% increase year-on-year. New orders amounted to 113.05 million deadweight tons, up 58.8%, and the hand-held order volume was 208.72 million deadweight tons, increasing by 49.7% [1]. R&D Investment - China Power has significantly increased its R&D investment, with expenditures from 2020 to 2024 totaling 8.15 billion yuan, 14.70 billion yuan, 16.76 billion yuan, 21.09 billion yuan, and 24.43 billion yuan, culminating in a total of 85.13 billion yuan over five years [1][4]. - The company has established a robust technological barrier in the ship power sector through a focus on technological innovation and collaboration with research institutions [4]. Strategic Acquisitions - The company has strengthened its business synergy through acquisitions, including stakes in Torch Technology, Shanxi Chai Heavy Industry, and Guanghan Power. A recent announcement indicated plans to acquire a 16.51% stake in China Shipbuilding Industry Group's diesel engine division, increasing its ownership to 68.37% [3]. Cash Flow and Efficiency - Despite intensive capital operations, the company reported a net cash inflow from operating activities of 2.208 billion yuan in Q1 2025, reflecting a year-on-year increase of 14.8% [3]. Technological Advancements - China Power has made significant breakthroughs in green energy and intelligent control systems, including the development of the world's first methanol-diesel dual-fuel low-speed engine prototype and a digital twin-based health management platform for power systems [4][5]. - The company is actively promoting the industrialization of its technological achievements, with LNG power systems and ammonia fuel engines entering international markets and establishing partnerships with global giants [5].

证券代码：600482 证券简称：中国动力 公告编号：2025-015 中国船舶重工集团动力股份有限公司 第八届监事会第十一次会议决议公告 监事会就公司本次使用暂时闲置募集资金临时补充流动资金意见如下： 引第 2 号——上市公司募集资金管理和使用的监管要求（2022 年修订）》《上海 证券交易所股票上市规则》《上海证券交易所上市公司自律监管指引第 1 号—— 规范运作》等相关法律法规的规定，没有与募集资金投资项目的实施计划相抵触， 不影响募集资金投资项目的正常进行，不存在变相改变募集资金投向的情况； 用效率，具有合理性及必要性，不存在损害公司及其股东，尤其是中小股东利益的 情形。 债券代码：110808 债券简称：动力定02 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国船舶重工集团动力股份有限公司（以下简称"中国动力"或"公司"）第八届 监事会第十一次会议于 2025 年 4 月 3 日上午 9:30 以现场结合通讯方式召开，会议 通知于 2025 年 3 月 25 日以专人送达或电子邮件方式发出。公司应出席监事 5 ...

Core Viewpoint - The company has implemented the "Quality Improvement, Efficiency Enhancement, and Return to Shareholders" action plan to enhance the quality of listed companies and increase investor returns, aligning with national policies and market conditions [1][8]. Group 1: Business Operations and Performance - The company focuses on seven types of power businesses, including gas, steam, and nuclear power, and has seen improved financial indicators due to a favorable shipbuilding market and cost management [1][2]. - The company has received multiple accolades, including an A-level rating for information disclosure for five consecutive years and various awards for investor relations management [2][3]. - The company plans to optimize its product structure and enhance international competitiveness while ensuring timely delivery of orders [2][3]. Group 2: Innovation and Development - The company emphasizes innovation-driven development, focusing on upgrading production capabilities and addressing key technological challenges [3][4]. - The company has successfully developed and applied the CGT25 gas turbine and conducted tests on the world's first methanol dual-fuel engine, contributing to low-carbon shipping [3][4]. Group 3: Shareholder Returns and Value Creation - The company has committed to maximizing shareholder interests, implementing a profit distribution plan that includes cash dividends exceeding 300 million yuan for 2024 [4][5]. - Since its listing, the company has distributed a total of 1.696 billion yuan in cash dividends and has repurchased shares worth 500 million yuan [4][5]. Group 4: Investor Relations and Communication - The company prioritizes transparent communication with shareholders and investors, utilizing various channels to convey company value and performance [5][6]. - The company's market value increased by nearly 40% from the end of 2023 to the end of 2024, reflecting enhanced recognition in the capital market [5][6]. Group 5: Governance and Compliance - The company adheres to legal regulations and continuously optimizes its governance structure to ensure compliance and operational integrity [6][7]. - The company has established a robust internal control system and emphasizes the importance of compliance training for key personnel [6][7]. Group 6: Future Outlook - The company aims to strengthen its innovation capabilities and enhance the conversion of technological achievements while addressing core technology challenges [3][6]. - The company will continue to implement a sustainable dividend strategy and explore various market value management initiatives to enhance shareholder returns [4][5].