The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.Stock code: 000037 200037 Stock abbreviation: Shenzhen Nanshan Power A Shenzhen Nanshan Power B
Announcement No.: 2025-044
The Third Quarterly Report of 2025 of Shenzhen Nanshan
Power Co. Ltd.The Company and all members of the Board of Directors guarantee that the information disclosed is true accurate
and complete and there are no false records misleading statements or major omissions.Important note:
1. The Board of Directors directors and senior officers shall ensure the authenticity accuracy and completeness of the
quarterly report and bear individual and joint legal liabilities for any false records misleading statements or major
omissions.
2. The Principal Chief Accountant Chief Finance Officer and head of the accounting department (accounting officer)
declare that financial information in the quarterly report is true accurate and complete.
3. Whether the financial accounting report for the third quarter has been audited
□Yes □No
1The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
I. Key financial data
(I) Key accounting data and financial indicators
Whether the Company need to retroactively adjust or restate the previous accounting data
□Yes □No
YoY increase or
Beginning of the year decrease from the
The reporting period Changes YoY to the end of the beginning of the year
reporting period to the end of the
reporting period
Operating revenue
112542562.16-38.54%278932516.41-24.82%
(RMB)
Net profit attributable
to shareholders of
1796231.44123.10%-19943278.2056.29%
listed companies
(RMB)
Net profit attributable
to shareholders of
listed companies
779925.20107.00%-27547092.1550.72%
after deducting non-
recurring profit or
loss (RMB)
Net cash flows from
operating activities — — -49666179.21 38.99%
(RMB)
Basic earnings per
0.0030123.26%-0.033156.27%
share (RMB/share)
Diluted earnings per
0.0030123.26%-0.033156.27%
share (RMB/share)
weighted average
Increased by 0.67 Increased by 1.83
rate of return on net 0.12% -1.35%
percentage points percentage points
assets
At the end of the At the end of the Change compared to the end of the previous
reporting period previous year year.Total assets (RMB) 2011510732.33 2012736635.59 -0.06%
Owner's equity
attributable to
shareholders of the 1470115176.52 1485380575.08 -1.03%
listed company
(RMB)
(II) Non-recurring profit and loss items and amount
□Applicable □ Not applicable
Unit: RMB
Amount from the beginning
Amount during the
Item of the year to the end of Remark
reporting period
the reporting period
Profit or loss on disposal of
Mainly due to the impact of
non-current assets
profit and loss from
(including write-off of -730730.89 426001.63
disposal of non-current
provision for asset
assets.impairment)
Mainly the government
Government subsidies 276395.34 341118.48 subsidies related to
included in the current income.
2The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
profit or loss (except for
those that are closely
related to the Company's
normal business
operations comply with
national policies and
regulations are enjoyed
according to determined
standards and have a
sustained impact on the
Company's profit or loss)
Profit or loss from changes
in fair value of financial
assets and liabilities held
by non-financial Mainly from the investment
enterprises and profit or income obtained from the
loss from the disposal of large-denomination
2577450.037772661.71
financial assets and certificates of deposit
financial liabilities except structured deposits and
for effective hedging money market funds.operations related to the
Company's normal
business operations
Mainly due to the
company's settlement and
Other non-operating payment with related
revenue and expenses -1397693.77 -1489972.96 parties on the business
other than the above disputes left over from
history in the current
period.Changes in the
amount of minority -290885.53 -554005.09
interests (after tax)
Total 1016306.24 7603813.95 --
Details of other profit or loss that meet the definition of non-recurring gains and losses:
□Applicable □Not applicable
The Company had no specific profit or loss items that meet the definition of non-recurring profit or loss.Notes on the definition of the non-recurring profit or loss items listed in the "Interpretive Announcement No. 1 on
Information Disclosure of Companies Issuing Securities to the Public - Non-recurring Profit or Loss" as recurring profit or
loss items
□Applicable □Not applicable
The company does not define non-recurring profit or loss listed in the Explanation on defining non-recurring profit or loss
listed in the Explanatory Announcement No. 1 on Information Disclosure of Companies that Offer Securities to the Public
- Non-recurring Gains and Losses as recurring profit or loss.(III) Changes in key accounting data and financial indicators and reasons
□Applicable □ Not applicable
Balance September 30 January 1 Change
Explanation of changes
sheet items 2025 2025 ratio
Mainly: Firstly the company strengthened
fund management improved the capital use
efficiency and increased the deposit of
Monetary existing monetary funds allocated to
52070006.75478979221.66-89.13%
funds structured deposits and monetary funds at
commercial banks in the current period;
secondly the Company optimized the
asset-liability structure repaid the short-
3The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
term borrowings due in the current period
and the monetary funds decreased.Mainly due to the increase in existing
Financial
monetary funds allocated to structured
assets held 272656854.67 0.00 100.00%
deposits at commercial banks and money
for trading
market funds.Mainly due to the fact that the independent
energy storage project of Shenzhen
Accounts Nanshan Power Xiwan Company was put
107961108.3167817025.9159.19%
receivable into operation in the current period and the
receivables from the integrated energy
service business increased.Mainly due to the increase in the progress
payment receivable and the unexpired
contract
3241784.80 95580.68 3291.67% quality guarantee deposit of the company's
assets
integrated energy service project in the
current period.Mainly due to the completion of the
independent energy storage project of
Construction Shenzhen Nanshan Power Xiwan Company
1883438.336983713.85-73.03%
in progress in the current period and the preliminary
transfer to fixed assets and the decrease in
the construction in progress.Mainly due to the recognition of right-of-use
assets for the leased land and above-
ground buildings newly added for the
Right-of-use
30252504.20 6160020.43 391.11% independent energy storage project of
assets
Shenzhen Nanshan Power Xiwan Company
in order to ensure the operation of the
project.Mainly due to the increase in the company's
investment in information construction
Intangible
2114546.24 1349731.81 56.66% projects in the current period in order to
assets
improve operational efficiency and refined
management level.Mainly due to the goodwill arising from the
acquisition of energy technology companies
Goodwill 35708.95 0.00 100.00%
by business combinations not under
common control in the current period.Mainly due to the acquisition of energy
technology companies in the current period
Deferred tax and the increase in deferred income tax
4606548.06625000.00637.05%
assets assets recognized by subsidiaries within the
scope of consolidation due to deductible
losses.Mainly due to the completion of the
independent energy storage project of
Other non-
Shenzhen Nanshan Power Xiwan Company
current 2868974.00 5596476.40 -48.74%
in the current period and the pre-transfer to
assets
fixed assets and the decrease in the
prepayment of the project in progress.Mainly due to the company's repayment of
short-term short-term borrowings due in the current
93072991.65268615009.19-65.35%
borrowings period and the short-term borrowings
decreased.Mainly due to the completion of the
independent energy storage project of
Accounts Shenzhen Nanshan Power Xiwan Company
96740685.4014022157.61589.91%
payable in the current period the pre-transfer to
fixed assets and the increase in project
funds and equipment funds payable.
4The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
Mainly due to the increase in advances
contract
95720.03 50000.00 91.44% received for integrated energy service
liabilities
projects in the current period.Employee Mainly due to the annual performance
compensation 5354912.94 16052879.47 -66.64% remuneration accrued at the end of the
payable previous year paid in the current period.Mainly due to the enterprise income tax
taxes payable 8859813.99 14348908.04 -38.25% accrued at the end of last year paid by Xiefu
Company in the current period.It was mainly due to the fact that Shenzhen
Nanshan Power Zhongshan Company paid
the demolition and disposal costs of the oil
Other
7903407.65 15685234.29 -49.61% tank and oil pipeline of plot A accrued at the
payables
end of the previous year according to the
relevant agreement on land acquisition and
storage.Mainly due to the construction of
independent energy storage projects of
long-term
97154742.83 0.00 100.00% Shenzhen Nanshan Power Xiwan
borrowings
Company and the new special fixed asset
loans in the current period.Mainly due to the recognition of lease
liabilities for the leased land and above-
lease ground buildings newly added for the
25640478.662125910.181106.09%
liabilities independent energy storage project of
Shenzhen Nanshan Power Xiwan Company
in the current period.Mainly due to the taxable temporary
differences arising from the one-time pre-tax
deduction of fixed assets with a unit value of
deferred tax
4023323.42 0.00 100.00% more than RMB 5 million in the Shenzhen
liabilities
Nanshan Power Xiwan Company after they
are put into use and the income tax effect is
offset and recognized on a net basis.Year-on-
Income year
January - January -
statemen increase Explanation of changes
September 2025 September 2024
t items or
decrease
Mainly due to the dynamic adjustment of
spot market clearing strategies in response
to nodal electricity prices with the objective
operating
237145015.81 347115833.39 -31.68% of maximizing the comprehensive returns
costs
from its power generation business resulting
in a YoY decrease in power generation sales
revenue.Mainly due to the decrease ongoing R&D
R&D projects of the Company in the current
13301146.3422603237.67-41.15%
expenses period resulting in a YoY decrease in R&D
expenses.Mainly due to the Company's notable
progress in revitalizing existing assets in
financial 2024 resulting in a YoY increase in net
3305072.017127968.01-53.63%
expenses monetary funds during this period and
enhanced liquidity management resulting in
a YoY decrease in financial expenses.Mainly due to the dividend distribution
received by the company from the
investmen
16758102.10 12096450.59 38.54% investment in other equity instruments held
t income
in the current period and the YoY increase
in investment income.
5The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
Mainly due to the adjustment of unrealized
gains from internal transaction profit/loss after disposal
disposal of 426001.63 295289.14 44.27% of non-current assets in the current period
assets and the YoY increase in assets disposal
income.Mainly due to the company's settlement and
Non- payment with related parties on business
operating 1500272.96 116209.21 1191.01% disputes left over from history in the current
expenses period resulting in YoY increase in non-
operating expenses.Mainly due to the Company's further
promotion of the strategic transformation to
an integrated energy service provider. The
Income independent energy storage project of
tax 4089915.33 0.00 100.00% Shenzhen Nanshan Power Xiwan Company
expenses was put into operation and achieved
profitability in the current period and the
corresponding income tax expenses
increased.Year-on-
Statement January - year
January -
of cash September increase Explanation of changes
September 2025 flows items 2024 or
decrease
Mainly due to the following factors: Firstly
the Company's independent energy storage
project of Shenzhen Nanshan Power Xiwan
Company was put into operation in the
current period and the revenue and
Net cash
marginal contribution of the integrated
flows from
-49666179.21 -81406730.48 38.99% energy service business increased
operating
significantly; secondly the strategic
activities
acquisition of energy technology companies
was completed in the current period
resulting in new cash inflows from operating
activities and the net cash flows from
operating activities increased YoY.Mainly due to the following factors: Firstly
the Company's active advancement of the
construction of independent energy storage
projects of Shenzhen Nanshan Power
Xiwan Company resulting in the increase in
the cash paid for equipment procurement
Net cash and project funds in the current period;
flows from secondly enhanced fund management to
-289579804.83200352838.00-244.53%
investing improve the efficiency of capital with an
activities increase in the existing monetary funds
allocated to structured deposits and
monetary funds at commercial banks in the
current period and the increase in cash
outflows from investing activities and a
consequent year-on-year decrease in net
cash flow from investing activities.Mainly due to the Company's optimization of
Net cash its asset and liability structure and the year-
flows from on-year decrease in the scale of new
-85173244.99-22231830.09-283.11%
financing financing during the current period resulting
activities in an increase in the net cash flows from
financing activities on a year-on-year basis.Net
Mainly due to a YoY decrease in net cash
increase in
-424490487.16 96650388.90 -539.20% flows from investing activities and financing
cash
activities collectively resulting in a reduction
equivalents
6The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
of net increase in cash and cash
equivalents on a year-on-year basis.II. Shareholders information
(I) Total number of ordinary shareholders and number of preferred shareholders whose voting
rights have been restored and shareholdings of the top ten shareholders
Unit: share
Total number of ordinary Total number of preferred shareholders whose
shareholders at the end of the 46770 voting rights have been restored at the end of 0
reporting period the reporting period (if any)
Shareholdings of the top 10 shareholders (excluding shares lent through refinancing)
Number of
Nature of Pledge marking or freezing
Name Shareholding Number of shares held
shareholder ratio shares held with selling
Share status Quantity
restrictions
HONG KONG
NAM HOI Overseas
15.28% 92123248 0 Not applicable 0
(INTERNATIO legal person
NAL) LTD
Shenzhen
Guangju State-owned
12.22% 73666824 0 Not applicable 0
Industrial Co. legal person
Ltd.Shenzhen
State-owned
Energy 10.80% 65106130 0 Not applicable 0
legal person
Corporation
Domestic
Zeng Ying 1.19% 7159600 0 Not applicable 0
natural person
China
Merchants
Overseas
Securities 0.91% 5462154 0 Not applicable 0
legal person
(Hong Kong)
Co. Ltd.GUOTAI
JUNAN
SECURITIES Overseas
（ 0.89% 5379880 0 Not applicable 0 HONG legal personKONG）
LIMITED
BOCI
Overseas
SECURITIES 0.72% 4310566 0 Not applicable 0
legal person
LIMITED
LISHERYNZH Overseas
0.69% 4163600 0 Not applicable 0
ANMING natural person
Domestic
Huang Yilong 0.64% 3866500 0 Not applicable 0
natural person
Zhang Domestic
0.55% 3300053 0 Not applicable 0
Yuexiang natural person
The shareholding situation of the top 10 shareholders with unrestricted tradable shares (excluding shares lent out
through refinancing and senior executive/locked shares)
Type and number of shares
Number of shares held without restrictions on
Name
sales Type of
Quantity
shares
Domestic
HONG KONG NAM HOI
92123248 listed foreign 92123248
(INTERNATIONAL) LTD
shares
7The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
Shenzhen Guangju Industrial RMB ordinary
7366682473666824
Co. Ltd. shares
RMB ordinary
Shenzhen Energy Corporation 65106130 65106130
shares
Domestic
Zeng Ying 7159600 listed foreign 7159600
shares
Domestic
China Merchants Securities
5462154 listed foreign 5462154
(Hong Kong) Co. Ltd.shares
Domestic
GUOTAI JUNAN SECURITIES
5379880 listed foreign 5379880（HONG KONG） LIMITED
shares
Domestic
BOCI SECURITIES LIMITED 4310566 listed foreign 4310566
shares
Domestic
LISHERYNZHANMING 4163600 listed foreign 4163600
shares
RMB ordinary
Huang Yilong 3866500 3866500
shares
Domestic
Zhang Yuexiang 3300053 listed foreign 3300053
shares
1. Shenzhen Energy Corporation holds 100% equity in HONG
KONG NAM HOI (INTERNATIONAL) LTD
Explanation of the above-mentioned
2. The Company is unaware of whether the above-mentioned
shareholders' relationship or concerted actions
other public shareholders have any relationship or are persons
acting in concert.Disclosure on the participation of the top 10
shareholders in margin trading and securities None
lending (if any)
Participation of shareholders holding more than 5% of the shares the top 10 shareholders and the top 10 shareholders
of unrestricted tradable shares in refinancing business and lending shares
□Applicable □Not applicable
Changes of the top 10 shareholders and the top 10 shareholders of unrestricted tradable shares compared with the
previous period due to refinancing lending/repayment
□Applicable □Not applicable
(II) Total number of preferred shareholders of the Company and shareholding of the top 10
preferred shareholders
□Applicable □Not applicable
III. Other significant events
□Applicable □Not applicable
IV. Quarterly financial statements
(I) Financial statements
1. Consolidated balance sheet
Prepared by: Shenzhen Nanshan Power Co. Ltd.
8The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
September 30 2025
Unit: RMB
Item Ending balance Beginning balance
Current assets:
Monetary funds 52070006.75 478979221.66
Balances with clearing companies
Loans to banks and other financial
institutions
Financial assets held for trading 272656854.67
Derivative financial assets
Notes receivable
Accounts receivable 107961108.31 67817025.91
Receivables financing
Advances to suppliers 14571845.57 19062352.04
Premiums receivable
Reinsurance accounts receivable
Receivable reinsurance contract
reserve
Other receivables 119503258.72 131831575.62
Including: interest receivable
dividends receivable
Financial assets purchased under
resale agreements
Inventories 79537717.20 80234374.79
Including: data resources
contract assets 3241784.80 95580.68
Assets held for sale 24582784.59 24582784.59
Non-current assets due within one
year
Other current assets 294812926.86 285528539.22
Total current assets 968938287.47 1088131454.51
Non-current assets:
Issuance of loans and advances
Debt investments
Other debt investments
Long-term receivables
long-term equity investments 92973713.04 90587521.44
Other investments in equity 350768378.71 354798054.57
instruments
Other non-current financial assets
investment properties 1373092.27 1498009.84
Fixed assets 551149843.46 451203790.97
Construction in progress 1883438.33 6983713.85
Productive biological assets
Oil and gas assets
Right-of-use assets 30252504.20 6160020.43
Intangible assets 2114546.24 1349731.81
Including: data resources
Development expenses
Including: data resources
Goodwill 35708.95
Long-term deferred expenses 4545697.60 5802861.77
Deferred tax assets 4606548.06 625000.00
Other non-current assets 2868974.00 5596476.40
9The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
Total non-current assets 1042572444.86 924605181.08
Total assets 2011510732.33 2012736635.59
Current liabilities:
short-term borrowings 93072991.65 268615009.19
Loans from the Central Bank
Loans from banks and other
financial institutions
Financial liabilities held for trading
Derivative financial liabilities
Notes payable
Accounts payable 96740685.40 14022157.61
advances from customers
contract liabilities 95720.03 50000.00
Financial assets sold under
repurchase agreements
Customer bank deposits and due
to banks and other financial
institutions
Receivings from vicariously traded
securities
Receivings from vicariously sold
securities
Employee compensation payable 5354912.94 16052879.47
taxes payable 8859813.99 14348908.04
Other payables 7903407.65 15685234.29
Including: interest payable
Dividends payable
Handling charges and
commissions
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities maturing 5069331.10 4466835.32
within one year
Other current liabilities 108443857.44 107922984.82
Total current liabilities 325540720.20 441164008.74
Non-current liabilities:
reserves for insurance contract
long-term borrowings 97154742.83
Bonds payable
Including: preferred shares
Perpetual bonds
lease liabilities 25640478.66 2125910.18
long-term payables
Long-term employee
compensations payable
Estimated liabilities
Deferred income 56763465.82 61522875.97
deferred tax liabilities 4023323.42
Other non-current liabilities
Total non-current liabilities 183582010.73 63648786.15
total liabilities 509122730.93 504812794.89
Owners' equity:
Share capital 602762596.00 602762596.00
Other equity instruments
Including: preferred shares
Perpetual bonds
10The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
Capital reserve 362770922.10 362770922.10
Less: treasury shares
Other comprehensive income 3049378.71 1683054.57
Special reserve 1958663.24
Surplus reserve 332908397.60 332908397.60
General risk reserves
Undistributed profits 166665218.87 185255604.81
Total equity attributable to the owners 1470115176.52 1485380575.08
of the parent company
minority interests 32272824.88 22543265.62
Total owners' equity 1502388001.40 1507923840.70
Total Liabilities and owners' equity 2011510732.33 2012736635.59
Legal Representative: Kong Guoliang Chief Accountant: Kong Guoliang Chief Financial Officer: Zhang Xiaoyin Head of
Finance Department: Lin Xiaojia
2. Consolidated income statement from the beginning of the year to the end of the reporting
period
Unit: RMB
Item Amount incurred in the current period Amount incurred in previous period
I. Total operating revenue 278932516.41 371008976.90
Including: operating revenue 278932516.41 371008976.90
Interest income
premiums earned
Handling charges and
commission income
II. Total operating costs 311435808.08 438675510.79
Including: operating costs 237145015.81 347115833.39
Interest expenses
Expenses from handling
charges and commissions
Surrender value
Net amount of
compensation payout
Net provision for insurance
liability reserves
Policy dividends
Reinsurance costs
taxes and surcharges 2843644.76 2281176.31
selling and distribution
1791018.362419675.17
expenses
G&A expenses 53049910.80 57127620.24
R&D expenses 13301146.34 22603237.67
financial expenses 3305072.01 7127968.01
Including: interest
5520695.2110872339.65
expenses
Interest income -2458624.55 -4046397.68
Plus: other income 5100528.63 5199081.29
Investment income (losses
16758102.1012096450.59
expressed with "-")
Including: investment
income from associates and joint 3196461.05 2349226.73
ventures
Gains from
11The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
derecognition of financial assets
measured at amortized costs
Exchange gains (losses
expressed with "-")
Net exposure hedging gains
(losses expressed with "-")
Gains from fair value changes
(losses expressed with "-")
Losses from credit impairment
83303.29
(losses expressed with "-")
Asset impairment loss (losses
expressed with "-")
Gains from disposal of assets
426001.63295289.14
(losses expressed with "-")
III. Operating profit (losses expressed
-10135356.02-50075712.87
with "-")
Plus: non-operating revenue 10300.00 113492.10
Less: non-operating expenses 1500272.96 116209.21
IV. Total profit (total losses expressed
-11625328.98-50078429.98
with "-")
Less: income tax expenses 4089915.33
V. Net profit (losses expressed with "-
-15715244.31-50078429.98
")
(I) Classification by business
continuity
1. Net profit from continued
operations (net losses expressed -15715244.31 -50078429.98
with "-")
2. Net profit from discontinued
operations (net losses expressed
with "-")
(II) Classification by ownership
1. Net profit attributable to
shareholders of the parent company -19943278.20 -45628230.07
("-" for net losses)
2. Minority interest income ("-"
4228033.89-4450199.91
for net losses)
VI. Net of tax of other comprehensive
1366324.14
income
Net after-tax amount of other
comprehensive income attributable to 1366324.14
owners of parent company
(I) Other comprehensive income
that cannot be reclassified into profit 1366324.14
or loss
1. Remeasure changes in
benefit plans
2. Other comprehensive
income that cannot be converted into
profit or loss under the equity method
3. Fair value changes of other
1366324.14
investments in equity instruments
4. Fair value changes of the
enterprise's own credit risk
5. Others
(II) Other comprehensive income
that will be reclassified to profit or
loss
1. Other comprehensive
income that can be converted into
12The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
profit or loss under the equity method
2. Fair value changes of other
debt investments
3. Amounts reclassified from
financial assets into other
comprehensive income
4. Credit loss provisions for
other debt investments
5. Cash flow hedging reserve
6. Differences arising from
foreign currency financial statements
7. Others
Net of tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income -14348920.17 -50078429.98
(I) Total comprehensive income
attributable to the owner of the parent -18576954.06 -45628230.07
company
(II) Total comprehensive income
4228033.89-4450199.91
attributable to minority shareholders
VIII. Earnings per share:
(I) Basic earnings per share -0.0331 -0.0757
(II) Diluted earnings per share -0.0331 -0.0757
Legal Representative: Kong Guoliang Chief Accountant: Kong Guoliang Chief Financial Officer: Zhang Xiaoyin Head of
Finance Department: Lin Xiaojia
3. Consolidated statement of cash flow from the beginning of the year to the end of the
reporting period
Unit: RMB
Item Amount incurred in the current period Amount incurred in previous period
I. Cash flows from operating
activities:
Cash received from selling goods and 279041540.75 402871423.57
providing services
Net increase in customer bank
deposits and due to banks and other
financial institutions
Net increase in borrowings from the
Central Bank
Net increase in borrowings from
banks and other financial institutions
Cash received from premiums from
the original insurance contract
Net cash received from reinsurance
business
Net increase in policyholders' savings
and investment funds
Cash received from interest handling
charges and commissions
Net increase in borrowings from
banks and other financial institutions
Net increase in funds from repurchase
business
Net cash received from vicariously
traded securities
Tax refunds received
Other cash related to operating 10825367.05 19347302.02
activities received
Sub-total of cash inflows from 289866907.80 422218725.59
operating activities
13The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
Cash paid for purchase of goods and 217058588.72 329471510.91
acceptance of services
Net increase in loans and advances to
customers
Net increase in deposits with the
Central Bank and interbank funds
Cash paid for indemnity payment of
original insurance contract
Net increase in lending funds
Cash paid for interest handling
charges and commissions
Cash paid for policy dividends
Cash paid to and on behalf of 86683465.97 116384167.36
employees
Taxes and fees paid 18055329.36 17016141.72
Other cash related to operating 17735702.96 40753636.08
activities paid
Sub-total of cash outflows from 339533087.01 503625456.07
operating activities
Net cash flows from operating -49666179.21 -81406730.48
activities
II. Cash flows from investing activities:
Cash received from recovery of
8698892.26407000000.00
investments
Cash received from investment
10354447.415471924.04
income
Net cash recovered from disposal of
fixed assets intangible assets and 72391390.63 71805059.00
other long-term assets
Net cash received from disposal of
subsidiaries and other business units
Other cash received relating to
17559407.20
investing activities
Sub-total of cash inflows from
109004137.50484276983.04
investing activities
Cash paid for the acquisition and
construction of fixed assets intangible 122812997.09 7924145.04
assets and other long-term assets
Cash paid for investments 1950000.00 50000000.00
net increase in pledge loans
Net cash paid for acquisition of
subsidiaries and other business units
Payments of other cash related to 273820945.24 226000000.00
investing activities
Sub-total of cash outflows from 398583942.33 283924145.04
investing activities
Net cash flows from investing -289579804.83 200352838.00
activities
III. Cash flows from financing
activities:
Cash received from absorption of
24500000.00
investments
Including: cash received by
subsidiaries from absorption of
minority shareholders' investments
Cash received from acquisition of
97154742.83342026209.56
borrowings
Other cash received related to
financing activities
Sub-total of cash inflows from
97154742.83366526209.56
financing activities
Cash paid to repay debt 175558036.22 373844324.72
Cash paid for distribution of dividends
3277382.608351022.93
profits or interest payments
Including: dividends and profits paid
14The Third Quarterly Report of 2025 of Shenzhen Nanshan Power Co. Ltd.
by subsidiaries to minority
shareholders
Payments of other cash related to
3492569.006562692.00
financing activities
Sub-total of cash outflows from
182327987.82388758039.65
financing activities
Net cash flows from financing
-85173244.99-22231830.09
activities
IV. Impact of fluctuation in exchange
-71258.13-63888.53
rate on cash and cash equivalents
V. Cash and net increase in cash
-424490487.1696650388.90
equivalents
Plus: beginning cash and balance of
471067121.66310734919.56
cash equivalents
VI. Ending balance of cash and cash
46576634.50407385308.46
equivalents
Legal Representative: Kong Guoliang Chief Accountant: Kong Guoliang Chief Financial Officer: Zhang Xiaoyin Head of
Finance Department: Lin Xiaojia
(II) Adjustment of relevant items of the financial statements at the beginning of
the year in the year of initial implementation of new accounting standards from
2025
□Applicable □Not applicable
(III) Auditors' Report
Whether the financial accounting report for the third quarter has been audited
□Yes □No
The company's financial report for the third quarter has not been audited.Board of Directors of Shenzhen Nanshan Power Co. Ltd.October 28 2025
15
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