Group 1 - The second extraordinary general meeting of shareholders was held on August 15, 2025, in Wuhan, Hubei Province [2][3] - The meeting was presided over by Director Liu Haibo, with attendance from 2 out of 11 directors and key management personnel [3][4] - All resolutions proposed during the meeting were approved, including the construction of the Gezhouba shipping capacity expansion project and amendments to the company's articles of association [4][5] Group 2 - The company announced the cancellation of its supervisory board, with the audit committee of the board of directors assuming the supervisory functions [6] - The decision to abolish the supervisory board was made in accordance with the resolution passed at the extraordinary general meeting [6] - The company expressed gratitude to all supervisors for their contributions during their tenure [6]

长江电力披露上述公告次日（7月31日），公司股价下跌3.00%。8月1日，公司股价小幅上涨0.54%，但尚未修复至公告披露前的水平。 每经记者｜杨煜 每经编辑｜金冥羽 文多 近日，因业绩稳定、分红丰厚而口碑出众的长江电力（SH600900，股价27.99元，市值6849亿元）正面临来自中小投资者的质疑。7月30日晚，长江电力 发布董事会决议公告，宣布拟出资建设葛洲坝航运扩能工程，出资金额约为266亿元（可研估算）。 然而，部分投资者担忧，上述工程是否缺乏经济效益、是否影响公司未来业绩及分红表现？ 图片来源：公司公告截图 8月1日，《每日经济新闻》记者就此事致电长江电力，询问公司是否有进一步解释或回应。接电话的工作人员表示，这一点以后续审批流程为准。关于上 述工程实施后能否提高葛洲坝电站上网电价的问题，其表示还在争取，尚未确定。 拟出资266亿元用于葛洲坝航运扩能 葛洲坝又被称为"万里长江第一坝"，是长江干流上第一座大型水电工程，兼具发电、航运、防洪等综合效益，此次拟实施的工程主要与其航运功能有关。 公告显示，葛洲坝船闸原设计年单向通过能力为5000万吨，但多年来一直处于超负荷运行状态，已成为长江上游航运的"堵 ...

Core Viewpoint - Changjiang Electric Power (600900.SH) announced the approval of a proposal to invest in the Gezhouba Navigation Capacity Expansion Project, with an estimated investment of approximately 26.6 billion yuan [1] Group 1 - The sixth board of directors' 44th meeting is scheduled for July 30, 2025, to review the investment proposal [1] - The investment will cover the Gezhouba Navigation Capacity Expansion Project and related expenses [1] - The funding will be sourced from the company's own funds, with the final investment amount to be confirmed based on the preliminary design estimate approved by the state [1]

Core Viewpoint - The construction of the new Three Gorges Waterway project is a significant strategic initiative aimed at enhancing the shipping capacity and efficiency along the Yangtze River, addressing the urgent demand for increased cargo transport due to rapid economic growth in the upstream regions [3][16]. Group 1: Project Overview - The National Development and Reform Commission has approved the feasibility study for the Three Gorges Waterway New Channel project, which integrates water conservancy, shipping, and ecological functions [3]. - The project includes the construction of a new waterway and the expansion of the Gezhouba shipping capacity, with a total static investment of approximately 76.6 billion yuan and a construction period of 100 months [7]. - The new channel aims to double the throughput capacity from the existing 100 million tons to nearly 180 million tons, addressing the bottleneck caused by the current Three Gorges lock system [7][8]. Group 2: Economic Impact - The Three Gorges Waterway New Channel is expected to significantly boost the economic development of the Yangtze River Economic Belt, facilitating smoother material flow and industrial collaboration between regions [16]. - The project will particularly benefit the Chengdu-Chongqing economic circle, where over 90% of foreign trade goods rely on inland shipping, enhancing the shipping capacity of Chongqing port and reducing logistics costs [17]. - The automotive industry in Chongqing, which produced 2.54 million vehicles in 2023, will particularly benefit from improved shipping routes, allowing for faster and more cost-effective transportation of goods [18]. Group 3: Historical Context and Delays - Discussions about the need for a second lock at the Three Gorges began around 2016, but progress was delayed due to local economic interests and the development of the "bypass logistics" industry [13][14]. - The existing Three Gorges lock has been overwhelmed by cargo demand, with throughput exceeding 150 million tons annually since 2022, leading to significant delays and increased operational costs for shipping companies [9][10]. - The rapid economic growth in the upstream regions, particularly in the Chengdu-Chongqing area, has outpaced initial projections, necessitating the urgent development of the new waterway [8][12]. Group 4: Future Prospects - The new waterway is anticipated to serve as a "shot in the arm" for the Yangtze River Economic Belt, enhancing regional collaboration and economic integration [16]. - The project aligns with national strategies for infrastructure development and is expected to play a crucial role in the transformation of local industries towards greener and smarter operations [22][28]. - The Three Gorges Waterway New Channel is positioned to become a vital link in the global supply chain, particularly for the automotive sector, facilitating quicker access to international markets [21].