China Longyuan Power Group Corporation (00916): The company's operating development is good, and high-quality completion of annual tasks.

China Longyuan Power Group Corporation (00916) announced that the company's current operating conditions are good, and the controlling shareholder is confident in the prospects of the new energy industry and the company's development. The relevant announcements are as follows: 1. The company's business development is good, and the annual tasks are completed with high quality. The company has disclosed its 2024 annual performance on March 29, 2025. According to Chinese accounting standards, the company achieved operating revenue of RMB 37.07 billion for the year, with a net profit attributable to the shareholders of the listed company of RMB 6.345 billion, an increase of 0.66% year-on-year. In 2024, the company completed a renewable energy generation of 683.83 billion kWh, an increase of 3.76% year-on-year, and added a new energy installed capacity of 7,480.66 MW, achieving a new energy development target of 14.72 GW, and completed the annual targets with high quality. As of December 31, 2024, the company's controlled installed capacity reached 41,143.20 MW, all of which are renewable energy sources, including wind power installed capacity of 30,408.77 MW, photovoltaic installed capacity of 10,698.33 MW, and other renewable energy sources installed capacity of 36.10 MW. The company is focusing on the "12556" work train of thought, striving to achieve the goals of the "14th Five-Year Plan", accelerate the creation of a new Longyuan that is focused on "inherent safety, doubled scale, digital transformation, innovation leadership, and healthy initiative", and comprehensively build a world-class new energy technology leading enterprise. 2. The controlling shareholder actively fulfills commitments and supports the company's development. The company's controlling shareholder, State Energy Investment Group Co., Ltd. ("State Energy Group"), is full of confidence in the company's future development, fully recognizes the value of the company, and the company has not received any notice of a reduction plan for the company's shares by the controlling shareholder and its concerted actors. In order to further support the company's development, State Energy Group actively promotes the fulfillment of its commitments to the capital market. On July 1, 2024, the company received a notification from the controlling shareholder State Energy Group, initiating the work of injecting a part of new energy assets into the company to implement the "Supplementary Commitment Letter of State Energy Investment Group Co., Ltd. on Avoiding Competing with China Longyuan Power Group Corporation" agreement and promote the reduction and resolution of competitive issues, State Energy Group plans to inject equity of new energy companies within its subordinate provincial companies that meet the injection conditions into the company in batches, with an estimated new energy installed capacity of about 4 GW. On October 22, 2024, the 9th meeting of the 5th Board of Directors of the company approved the "Proposal on the company's cash acquisition of a portion of new energy assets held by the controlling shareholder." The Board of Directors agreed that the company will acquire, in cash, the equity of a total of 8 new energy companies in the Shandong, Jiangxi, Gansu, and Guangxi regions held by State Energy Group. The total installed capacity of the above-mentioned target companies in operation and under construction is 2.0329 million kW. As of the end of 2024, 1.5693 million kW of installed capacity had been included in the company's consolidated financial statements, and the remaining portion will be put into operation or asset delivered within the year. State Energy Group is actively promoting the injection of the next batch of new energy assets. 3. Establishing a market value management system to consolidate the foundation of long-term value. In order to continuously improve the recognition of the capital market, the company has conducted in-depth research on regulatory measures, formulated and disclosed the "Market Value Management System", and determined that the Board of Directors will lead the overall market value management work, reasonably dividing the specific responsibilities of the board of directors, senior management, leading departments, business departments, and various subsidiaries in the market value management work. The company should focus on its core business, improve operational efficiency and profit-making ability, and integrate various market value management methods to enhance the company's investment value in a comprehensive manner. 4. First release of the medium to long-term dividend plan to stabilize investor confidence. On March 29, 2025, the company disclosed the "Cash Dividend Plan for 2025-2027", which proposes that the annual cash dividend ratio for the years 2025 to 2027 shall not be less than 30% of the net profit attributable to shareholders for that year, with the aim of actively rewarding investors, enhancing shareholder returns, and stabilizing market expectations. In the future, the company will comprehensively use the "toolbox" of market value management, with good performance as the foundation, compliance with the law as the guarantee, and multi-level communication as the link, continuously enhance the company's investment value, and create sustainable returns for shareholders.