Company Overview - The company is engaged in the electricity and heat production and supply industry, with main operations including power generation, transmission, and distribution, as well as port operations [1][5]. - The company is a limited liability company established on September 16, 2023, with a registered capital of RMB 761.2 million [5][6]. Financial Reporting - The financial statements are prepared based on the going concern principle and comply with the accounting standards issued by the Ministry of Finance [2][3]. - The accounting period is from January 1 to December 31 each year, with the company using RMB as its functional currency [3]. Accounting Policies - The company follows specific accounting policies and estimates tailored to its operational characteristics, including revenue recognition and financial instruments [3][7]. - Financial assets are classified based on the business model and cash flow characteristics, with categories including amortized cost and fair value [7][8]. Asset Management - Fixed assets are recognized when economic benefits are likely to flow to the company, and they are measured at cost, considering depreciation and impairment [19][21]. - The company assesses fixed assets for impairment at each reporting period, and any impairment loss is recognized in the current period [21][22]. Revenue Recognition - Revenue is recognized when the company fulfills its performance obligations in contracts, which occurs when customers obtain control of the related goods or services [31][32]. - The company allocates transaction prices to performance obligations based on their standalone selling prices [32][33]. Government Grants - Government grants are classified into asset-related and income-related grants, with recognition based on the conditions attached to the grants [35].

Core Viewpoint - Recently, China Coal established a new energy company in Yunnan, focusing on power generation and related services [1] Group 1: Company Establishment - China Coal Zhenkang New Energy Co., Ltd. has been established with a registered capital of 18 million RMB [1] - The legal representative of the new company is Zhu Chuanpeng [1] - The company is wholly owned by China Coal Green Energy Technology (Beijing) Co., Ltd. [1] Group 2: Business Scope - The business scope of the new company includes power generation, transmission, and distribution services [1]

Group 1 - Recently, Huadian (Kunming Dongchuan) New Energy Power Generation Co., Ltd. was established with a registered capital of 10 million yuan [1] - The company's business scope includes power generation, power transmission, and supply (distribution) of electricity [1] - Huadian New Energy (600930) holds 100% ownership of the newly established company [1]

Group 1 - Huadian International Power Co., Ltd. has invested 180 million RMB to establish Jiangsu Huadian Wangting Energy Development Co., Ltd., holding 100% of the shares [1] - Jiangsu Huadian Wangting Energy Development Co., Ltd. was established on December 2, 2024, with a registered capital of 180 million RMB [1] - The company is located in Suzhou and operates in the electricity and heat production and supply industry [1] Group 2 - The company is authorized to engage in power generation, transmission, and supply (distribution) activities, subject to approval from relevant authorities [1] - The company is also involved in heat production and supply, operating independently based on its business license, except for projects requiring legal approval [1]

Group 1 - The establishment of Guangxi Huadian Comprehensive Energy Service Co., Ltd. has been officially registered with a capital of 201 million RMB [1][2] - The company is fully owned by Huadian International (600027) and is involved in various energy-related services including power generation, transmission, and supply [1][2] - The legal representative of the company is Luo Peng, and it is registered in Nanning, Guangxi [2] Group 2 - The company's business scope includes installation, maintenance, and testing of electrical facilities, as well as thermal production and supply, cooling services, and information technology consulting [1][2] - Guangxi Huadian Comprehensive Energy Service Co., Ltd. is classified under the electricity and thermal production and supply industry [2]

Core Viewpoint - Huaneng (Zhangzhou) Thermal Power Co., Ltd. has been established with a registered capital of 100 million yuan, focusing on various energy-related services [1] Company Summary - The legal representative of the newly established company is Zhao Deyuan [1] - The company is wholly owned by Huaneng International through indirect shareholding [1] - The business scope includes power generation, transmission, distribution, heat production and supply, and solar power technology services [1]

Core Viewpoint - Nantong Tonghan Heating Co., Ltd. has been established with a registered capital of 5 million RMB, fully owned by Ningbo Liao Energy Co., Ltd. [1] Company Summary - Company Name: Nantong Tonghan Heating Co., Ltd. [1] - Legal Representative: Xiang Haibo [1] - Registered Capital: 5 million RMB [1] - Shareholder: Ningbo Liao Energy Co., Ltd. holds 100% [1] - Company Type: Limited liability company (wholly owned by a natural person) [1] - Business Scope: Includes power generation, transmission, heating services, installation and maintenance of electrical facilities, construction engineering, and various energy-related services [1] Industry Summary - Industry Classification: Power, heating, gas, and water production and supply [1] - Specific Sector: Power generation and supply [1] - Address: No. 105, Dingmo Road, Moutou Town, Rugao City, Nantong, Jiangsu Province [1] - Business Duration: Until July 31, 2025, with no fixed term thereafter [1] - Registration Authority: Rugao City Administrative Approval Bureau [1]

Core Viewpoint - Chongqing Zhiqi Yuan New Energy Co., Ltd. has been established with a registered capital of 50 million RMB, fully owned by Sichuan Guangqi Zhi Yuan New Energy Technology Co., Ltd. [1] Company Summary - Company Name: Chongqing Zhiqi Yuan New Energy Co., Ltd. [1] - Legal Representative: Tang Juan [1] - Registered Capital: 50 million RMB [1] - Shareholder: Sichuan Guangqi Zhi Yuan New Energy Technology Co., Ltd. holds 100% [1] - Business Scope: Includes power generation, transmission, and supply services, as well as various new energy technology research and development activities [1] Industry Summary - Industry Classification: Power, heat, gas, and water production and supply [1] - Specific Sector: Power generation [1] - Address: 499 Nan Jin Street, Building 17, Room 18-2, Hechuan District, Chongqing [1] - Company Type: Limited liability company (sole proprietorship) [1] - Business Duration: Until July 16, 2025, with no fixed term thereafter [1] - Registration Authority: Hechuan District Market Supervision Administration, Chongqing [1]

Core Viewpoint - Gansu Energy Chemical Co., Ltd. has established a new subsidiary to invest in the Lanzhou New Area 2×1000MW thermal power project with a registered capital of 1.6 billion yuan [1]. Group 1: Company Announcement - The company held its 45th meeting of the 10th Board of Directors on April 14, 2025, where it approved the establishment of a new subsidiary for the thermal power project [1]. - The new subsidiary, Gansu Energy Chemical Power Co., Ltd., has completed its business registration and has been issued a business license by the Lanzhou New Area Commerce and Market Supervision Administration [1]. - The registered capital of the new subsidiary is 1.6 billion yuan, and it is classified as a limited liability company [1]. Group 2: Business Scope - The business scope of the new subsidiary includes power generation, transmission, and supply (distribution) of electricity, which requires approval from relevant authorities [1]. - Additional general projects include processing of non-metallic waste and debris, power generation technology services, and various technical services such as consulting and technology transfer [1].