深南电B：2025年年度报告（英文版）

Shenzhen Nanshan Power Co., Ltd. 2025 Annual Report April 2026 2025 Annual Report I.Important, contents and definitions The Board of Directors, directors and senior officers of the Companywarrant that the contents of this annual report are true, accurate and complete,and that there are no false records, misleading statements or material omissions.They will bear joint and several liability for such matters. The Company's Principal and Accounting Director KONG Guoliang, ChiefFinance Officer ZHANG Xiaoyin, and Chief Accountant (accounting officer) LINXiaojia declare that they guarantee the authenticity, accuracy and completenessof the financial report in this annual report. All directors attended the meeting of Board of Directors at which the reportwas reviewed. The Company's profit distribution planreviewed and approved by the Boardof Directors this time is as follows: based on 602,762,596 shares, a cash dividendof RMB 0.32 (tax included) will be distributed to all shareholders for every 10shares, and 0 shares (tax included) will be given as bonusshares. The capitalreserve will not be converted into share capital.The annual report is prepared in Chinese and English respectively. If there is anyambiguity in the understanding of the two texts, the Chinese text shall prevail.Investors are requested to read the full text of the annual report carefully. Forward-looking statements such as future development strategies andbusiness plans involved in this annual report (if any) do not constitute a substantial commitment by the Company to investors. Investors and relatedpersons are requested to maintain sufficient risk awareness, understand thedifferences between plans, forecasts and commitments, and pay attention toinvestment risks. Table of Contents I. Important, contents and definitions.......................................................................................................................2II. Company Profile and Major Financial Indicators................................................................................................7III. Management's Discussion and Analysis.............................................................................................................12IV. Corporate Governance, Environment and Society..............................................................................................50V. Important Matters.................................................................................................................................................74VI. Changes in Shares and Shareholders..................................................................................................................84VII. Bonds............................................................................................................................................................…92VIII. Financial Report...........................................................................................................................................…93 List of documents for inspection I. Financial statementssigned and sealed by the Company's Principal, Accounting Director, Chief Finance Officer, and ChiefAccountant (accounting officer). II. The original audit report bearing the seal of the accounting firm and the signature and seal of the certified public accountant. III. The originals of all the Company's documents and announcements that have been publicly disclosed on designated mediaduring the reporting period. IV. Place for inspection: Office of the Board of Directors. Interpretations II. Company Profile and Major Financial Indicators 1.Company information 2.Contact and contact information 3.Information disclosure and preparation location 4.Changes in registration 5.Other relevant information CPAs engaged Thesponsor performing persistent supervision duties engaged by the Company in the reporting period. □ApplicableNot applicable The financial advisor performing persistent supervision duties engaged by the Company in the reporting period□ApplicableNot applicable 6.Key accounting data and financial indicators May the Company make retroactive adjustment or restatement of the accounting data of the previous years The lower of the company’s net profit before and after the deduction of non-recurring gains and losses in the last three fiscal years isnegative, and the auditor's report of the previous year shows that the Company’s going concern ability is uncertain. □YesNo During the reporting period, the lowest of the Company's audited total profit, net profit, and netprofit after deducting non-recurringgains and losses was negative Yes□ No 7.Differences inaccounting data under domestic and foreign accounting standards (1) Differences in net profit and net assets in the financial reports disclosed in accordance with theinternational accounting standards and the Chinese accounting standards □ApplicableNotapplicable During the reporting period of the