Group 1: Fundraising Overview - The company has received approval from the China Securities Regulatory Commission to issue shares to specific investors, with a total of 631,094,257 shares issued at a price of RMB 9.23 per share, raising a total of RMB 5,824,999,992.11 [1] - After deducting issuance costs of RMB 21,874,277.76, the net amount raised is RMB 5,803,125,714.35, verified by Tianzhi International Accounting Firm [1] Group 2: Fund Management and Regulatory Agreements - To ensure proper management and usage of the raised funds, the company has opened special accounts at various banks and signed both three-party and four-party regulatory agreements [2] - The three-party agreement involves the company, China Agricultural Bank, and the sponsor, CITIC Securities, while the four-party agreement includes additional entities [4] - The special accounts are exclusively for the storage and use of the raised funds, prohibiting any non-raising funds or alternative uses [6] Group 3: Key Provisions of the Regulatory Agreements - The company can invest temporarily idle funds in cash management products, provided it complies with relevant regulations and informs the sponsor [6] - The sponsor has the right to supervise the management and usage of the raised funds, conducting regular checks and requiring timely reporting from the banks [7][8] - Any significant withdrawals exceeding 20% of the net amount raised must be reported to the sponsor within five working days [9] Group 4: Compliance and Dispute Resolution - The agreement stipulates that any party violating the terms will bear responsibility for losses incurred by others [10] - Disputes arising from the agreement should first be resolved through negotiation, failing which they can be brought to the Kunming People's Court [10]

股票简称：华能水电 股票代码：600025 华能澜沧江水电股份有限公司 2024 年度向特定对象发行 A 股股票 发行情况报告书 保荐人（联席主承销商） 联席主承销商 二〇二五年九月 1 发行人全体董事、高级管理人员声明 本公司全体董事及高级管理人员承诺本发行情况报告书不存在虚假记载、误导性陈 述或重大遗漏，并对其真实性、准确性、完整性承担相应的法律责任。 全体董事签名： 3 发行人全体董事、高级管理人员声明 本公司全体董事及高级管理人员承诺本发行情况报告书不存在虚假记载、误导性陈 述或重大遗漏，并对其真实性、准确性、完整性承担相应的法律责任。 孙 卫 滕卫恒 华士国 李 进 李喜德 王伟军 王 超 万怀中 龙 健 张启智 周正风 杨毅平 龙小海 宋云苍 华能澜沧江水电股份有限公司 年 月 日 2 全体非董事的高级管理人员签名： 尹述红 王子伟 杨佐斌 鲁俊兵 周 华 赵 虎 段 川 卢 吉 4 华能澜沧江水电股份有限公司 年 月 | 痒 义 … | | --- | | 第一节 本次发行的基本情况… | | 一、发行人基本情况 | | 二、本次发行履行的相关程序 | | (一 ) 本次发行履行的内部决策程序 ...

华 能 澜 沧 江 水 电 股 份 有 限 公 司 验资报告 天 职 业 字 [2025]39022 号 录 目 验资报告- 1 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mc.br.cn）"进行查验。""进行登验。"" 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.md.f.gov.cn）"进行查验。"回收拾股票 "回 验资报告 天职业字[2025]39022 号 华能澜沧江水电股份有限公司: 我们接受委托,审验了华能澜沧江水电服份有限公司（以下简称"贵公司"）于 2025年 9 月向特定对象发行 631,094,257 股人民币普通股 ("A 股"）所增加注册资本的实收情况。按 照法律法规以及协议、章程的要求出资,提供真实、合法、完整的验资资料,保护资产的安全、 完整是全体股东及贵公司的责任。我们的责任是对贵公司新增注册资本及实收情况发表审验意 见。我们的审验是依据《中国注册会计师审计准则第1601 号 -- 对按照特殊目的编制基础编 制的财务报表审计的特殊考虑》进行的。在审验过程中,我们结合贵公司的实际情况,实施了 检查等必要的审验 ...

证券代码：600025 证券简称：华能水电 公告编号：2025-065 华能澜沧江水电股份有限公司 关于签署募集资金专户存储三方及四方监管协议 的公告 本公司董事会及全体董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、准确性和完整性依法承担法律责任。 为规范募集资金管理和使用，保护投资者合法权益，根据《上市公司募集资 金监管规则》《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 法律、法规及《华能澜沧江水电股份有限公司募集资金管理办法》等相关规定， 公司在中国农业银行股份有限公司昆明护国支行、中国农业银行股份有限公司昌 都卡若支行、国家开发银行西藏自治区分行、中国建设银行股份有限公司昌都分 行、中国工商银行股份有限公司昌都分行开设募集资金专项账户（以下简称专户）。 公司及下属公司、开户银行、本次发行的保荐人中信证券股份有限公司于近日分 别签订了《募集资金专户存储三方监管协议》、《募集资金专户存储四方监管协 议》。前述监管协议内容符合上海证券交易所《募集资金专户存储三方监管协议 （范本）》的要求，不存在重大差异。 截至2025年9月19日，公司本次专户的开立及存储情 ...

中信证券股份有限公司、 长城证券股份有限公司 关于 华能澜沧江水电股份有限公司 2024 年度向特定对象发行 A 股股票 发行过程和认购对象合规性的报告 保荐人（联席主承销商） 1 上海证券交易所： 华能澜沧江水电股份有限公司（以下简称"华能水电"、"发行人"或"公 司"）2024 年度向特定对象发行 A 股股票（以下简称"本次发行"）已获得中 国证券监督管理委员会（以下简称"中国证监会"）证监许可〔2025〕1515 号 文同意注册批复。 中信证券股份有限公司（以下简称"中信证券"或"保荐人（联席主承销商）"） 作为华能水电本次发行的保荐人（联席主承销商），长城证券股份有限公司（以 下简称"长城证券"，中信证券和长城证券以下合称"联席主承销商"）作为本 次向特定对象发行股票的联席主承销商，对发行人本次发行过程及认购对象的合 规性进行了核查，认为华能水电本次发行过程及认购对象符合《中华人民共和国 公司法》（以下简称"《公司法》"）《中华人民共和国证券法》（以下简称"《证 券法》"）《证券发行与承销管理办法》（以下简称"《承销管理办法》"）《上 市公司证券发行注册管理办法》（以下简称"《注册管理办法》"）《上海 ...

华能澜沧江水电股份有限公司（以下简称公司）向特定对象发行A股股票发 行承销总结及相关文件已经上海证券交易所备案通过。公司将依据相关规定尽快 办理本次发行新增股份的登记托管事宜。 相关发行情况详见公司于同日在上海证券交易所网站（www.sse.com.cn）披 露的《华能澜沧江水电股份有限公司2024年度向特定对象发行A股股票发行情况 报告书》，敬请广大投资者查阅。 证券代码：600025 证券简称：华能水电 公告编号：2025-066 华能澜沧江水电股份有限公司 关于向特定对象发行 A 股股票发行情况的提示性公告 本公司董事会及全体董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。 特此公告。 华能澜沧江水电股份有限公司董事会 2025 年 9 月 26 日 ...

北京市海问律师事务所 关于华能澜沧江水电股份有限公司向特定对象 发行 A 股股票发行过程和认购对象合规性的 见证法律意见书 致：华能澜沧江水电股份有限公司 Address：20/F, Fortune Financial Center, 5 Dong San Huan Central Road, Chaoyang District, Beijing 100020, China 电话(Tel)：(+86 10) 8560 6888 传真(Fax)：(+86 10) 8560 6999 www.haiwen-law.com 北京 BEIJING 丨上海 SHANGHAI 丨深圳 SHENZHEN 丨香港 HONG KONG 丨成都 CHENGDU 为出具本法律意见书之目的，本所律师查阅了本所认为出具本法律意见书所需 查阅的文件，包括但不限于：与认购对象及本次发行的发行过程有关的记录、协议、 资料和证明等相关文件。在调查过程中，本所亦得到发行人如下保证：发行人向本 所提供的文件和做出的陈述是完整、真实、准确和有效的；签署文件的主体均具有 签署文件的权利能力和行为能力；所提供文件中的所有签字和印章是真实的，任何 北京市 ...

Core Viewpoint - The report from Dongfang Securities indicates that electricity consumption in August 2025 increased by 5.0% year-on-year, with expectations for sustained high growth in electricity demand driven by high-tech manufacturing as the base effect diminishes in the following months [1][2]. Electricity Consumption Analysis - In August 2025, electricity consumption by different sectors showed year-on-year growth rates of +9.7% for primary industry, +5.0% for secondary industry, +7.2% for tertiary industry, and +2.4% for residential use, reflecting a decline compared to July 2025 [2]. - The manufacturing sector's electricity consumption rose by 5.5% year-on-year, marking the highest monthly growth rate for 2025, with high-tech and equipment manufacturing growing by 9.1% [2]. Power Generation Insights - In August 2025, the electricity generation from large-scale power plants increased by 1.6% year-on-year, with a decline in growth rates for thermal, nuclear, and solar power, while wind power saw an acceleration in growth [3]. - Hydropower generation decreased by 10.1% year-on-year, attributed to weaker water inflow, but is expected to improve marginally in the last quarter of 2025 due to a low base effect [3]. Investment Recommendations - The public utility sector is viewed positively, with expectations for continued growth in the thermal power industry due to improved commercial models and rising capacity price compensation [4]. - Recommended stocks in the thermal power sector include Guodian Power (600795.SH), Huadian International (600027.SH), and Huaneng International (600011.SH) [4]. - For hydropower, companies with strong basin advantages such as Yangtze Power (600900.SH) and Sichuan Investment Energy (600674.SH) are suggested for investment [4]. - In the nuclear power sector, China General Nuclear Power (003816.SZ) is highlighted for its strong long-term growth potential [5]. - Wind and solar sectors are expected to have significant growth opportunities under carbon neutrality expectations, with a focus on companies with high wind power ratios like Longyuan Power (001289.SZ) [5].

Group 1 - The core point of the article is that Huaneng Hydropower announced a board meeting to discuss a proposal for related party participation in a stock issuance, indicating ongoing corporate activities and potential capital raising efforts [1] - For the fiscal year 2024, Huaneng Hydropower's revenue composition is heavily weighted towards the power industry, accounting for 99.15% of total revenue, with other businesses contributing only 0.85% [1] - As of the report date, Huaneng Hydropower has a market capitalization of 167.4 billion yuan [1]

Core Viewpoint - Huaneng Hydropower (600025.SH) announced that the central enterprise rural investment fund intends to subscribe for the company's stock issuance to specific targets, with a subscription amount not exceeding 800 million yuan [1] Group 1 - The central enterprise rural investment fund has expressed interest in subscribing to Huaneng Hydropower's stock issuance [1] - The subscription amount is capped at 800 million yuan [1] - As of now, no share subscription agreement has been signed between the company and the central enterprise rural investment fund [1]