Summary of the 2023 Annual Report of Shenzhen Nanshan Power Co. Ltd.Ticker: 000037 200037 Stock name: Shenzhen Nanshan Power A Shenzhen Nanshan Power B Announcement No.: 2024-020

Summary of the 2023 Annual Report of Shenzhen Nanshan Power Co. Ltd.I. Important

The annual report summary is extracted from the full text of the annual report. In order to fully understand the

Company's operating results financial status and future development plans investors should carefully read the

full text of the annual report through media designated by the China Securities Regulatory Commission.Except for the following directors all other directors attended in person the meeting of the Board of Directors to

review this annual report

Name of director who Reasons for not attending Name of the person

Position of director who

was not present in person the meeting in person entrusted

was not present in person

Sun Huirong Director Work related reasons Huang Qing

Huang Xiqin Independent director Work related reasons Du Wei

Chen Zetong Independent director Work related reasons Du Wei

Prompt of non-standard audit opinion

□Applicable□ Not applicable

Proposed profit distribution plan for the reporting period or the plan for converting capital reserves into share

capital reviewed by the Board of Directors

□Applicable□ Not applicable

The Company plans not to distribute cash dividends give away bonus shares or increase share capital by

capital reserves.Proposed profit distribution plan for preferred shares approved by the Board of Directors for the reporting

period

□Applicable□ Not applicable

There were no preferred shares in the Company during the reporting period.II. Basic Information of the Company

1. Company profile

Shenzhen Nanshan Power

Stock name 000037、200037 Ticker A Shenzhen Nanshan

Power B

Stock exchange Shenzhen Stock Exchange

1Summary of the 2023 Annual Report of Shenzhen Nanshan Power Co. Ltd.

Contact person and contact

Secretary of the Board of Directors Securities representative

details

Name Zou Yi

16/F-17/F Hantang Building OCT

Office address Nanshan District Shenzhen Guangdong

Province

Fax 0755-26003684

Tel. 0755-26003611

E-mail investor@nspower.com.cn

2. Introduction to main business or products during the reporting period

The Company's main business includes power and heat supply for production and operation and technical

consulting and technical services related to power plants (stations). At the end of the reporting period the

Company owned two gas turbine power plants. Among them Nanshan Power Plant had three sets of 9E gas-

steam combined cycle generating units with total installed capacity of 540000 kilowatts located in the power

load center area of Qianhai Free Trade Zone Shenzhen. They are main peak shaving power in the region and

are currently in normal production and operation; Zhongshan Nanlang Power Plant received the Letter on

Matters Regarding the Units Shutdown of Shenzhen Nanshan Power (Zhongshan) Power Co. Ltd. Nanlang

Power Plant from Energy Bureau of Guangdong Province on November 6 2023 (YNDLH [2023] No. 672) in

which Energy Bureau of Guangdong Province agreed to shut down two 180MW gas-fired cogeneration units of

Zhongshan Nanlang Power Plant. At present the two 9E gas-steam combined cycle power generating units

owned by Zhongshan Nanlang Power Plant have been shut down and withdrawn from dispatching operation

and the related assets of the power generating units have entered the public listing and transfer process.During the reporting period the Company's main power business faced challenges such as fierce competition in

the power market and sustained high fuel price. In order to reduce the negative impact of the external

environment on the Company's operating performance the Company has implemented a series of business

layout and management changes with innovative thinking and perseverance. The Company clarified annual

business goals and policies adopted targeted major measures and continuously increased the efforts in

economic operation management on the basis of strict work safety management. The Company in line with the

trend of accelerating the power market-oriented reform process in Guangdong Province organized subordinate

power plants to actively participate in power market marketing and achieved good results which made

contributions to the Company's turn from losses to profits.During the reporting period the Company paid close attention to the operational development and market

expansion of its existing business. Its subsidiary Shenzhen Nanshan Power Engineering Company continued to

develop technical consulting and technical services for domestic and foreign gas turbine power station

construction projects while seizing strategic opportunities for the development new energy industry. It focused

on exploring new energy business tried to build a "construction operation management and maintenance"

platform for new energy. With its professional and refined technical capabilities Shenzhen Nanshan Power

Engineering Company has signed multiple contracts to provide clients with professional technical services;

2Summary of the 2023 Annual Report of Shenzhen Nanshan Power Co. Ltd.

Shenzhen Nanshan Power Environmental Protection Company took integrated energy service as its

transformation and development direction actively expanded comprehensive energy service projects such as

industrial and commercial energy storage distributed photovoltaic charging pile striving to create a new

integrated energy service business model.

3. Key accounting data and financial indicators

(1) Key accounting data and financial indicators in the past three years

Whether the Company need to retroactively adjust or restate the previous accounting data

□Yes□ No

Unit: RMB

Change compared

End of 2023 End of 2022 with the end of the End of 2021

previous year

Total assets 2049365388.69 2606216345.99 -21.37% 2790002824.41

Net assets

attributable to

1459288691.941455129894.840.29%1615293135.51

shareholders of

listed companies

Change compared

2023 2022 with the previous 2021

year

Operating revenue 589780190.71 694227657.28 -15.05% 757175743.41

Net profit

attributable to

4158797.10-160163240.67102.60%-439448712.13

shareholders of

listed companies

Net profit

attributable to

shareholders of

listed companies -70789007.91 -225967573.71 68.67% -514142213.75

after deducting non-

recurring gains and

losses

Net cash flows from

-100371976.92207168402.26-148.45%-39258302.07

operating activities

Basic earnings per

0.0069-0.2657102.60%-0.7291

share (RMB/share)

Diluted earnings 0.0069 -0.2657 102.60% -0.7291

per share

3Summary of the 2023 Annual Report of Shenzhen Nanshan Power Co. Ltd.

(RMB/share)

Weighted average

+10.72 percentage

rate of return on net 0.29% -10.43% -23.95%

points

assets

(2) Key accounting data by quarter

Unit: RMB

Q1 Q2 Q3 Q4

Operating revenue 111067616.64 160200568.41 182838205.80 135673799.86

Net profit

attributable to

-31147959.30-6092780.268482149.7932917386.87

shareholders of

listed companies

Net profit

attributable to

shareholders of

listed companies -41178992.24 -13698338.39 2109131.54 -18020808.82

after deducting non-

recurring gains and

losses

Net cash flows from

-36865225.55-20151263.99-62363198.5119007711.13

operating activities

Whether there are significant differences between the above financial indicators or their totals and the relevant

financial indicators disclosed by the Company in quarterly reports and semi-annual reports or not

□Yes□ No

4. Share capital and shareholders

(1) The number of ordinary shareholders and preferred shareholders whose voting right have been

restored and the shareholding status of the top 10 shareholders

Unit: share

Total Total

Total number number

number of of Total number of

of ordinary preferred preferred shareholders

ordinary sharehold sharehold whose voting rights

sharehold 48884 ers at the 54471 ers whose 0 were restored at the 0

ers at the end of the voting end of the month prior

end of the month rights to the disclosure date

reporting prior to were of the annual report

period the restored

disclosure at the end

4Summary of the 2023 Annual Report of Shenzhen Nanshan Power Co. Ltd.

date of of the

the reporting

annual period

report

Shareholding status of the top 10 shareholders (excluding shares lent through refinancing)

Pledge marking or

Number of

Nature of freezing

Shareholdi Number of shares held

Name of shareholder shareholde

ng ratio shares held with selling

r

restrictions Share Quantity

status

HONG KONG NAM

Overseas

HOI

legal 15.28% 92123248

(INTERNATIONAL)

person

LTD

State-

Shenzhen Guangju owned

12.22%73666824

Industrial Co. Ltd. legal

person

State-

Shenzhen Energy owned

10.80%65106130

Corporation legal

person

BOCI Overseas

SECURITIES legal 1.91% 11522048

LIMITED person

Domestic

Zeng Ying natural 1.19% 7159600

person

China Merchants Overseas

Securities (Hong legal 0.88% 5330854

Kong) Co. Ltd. person

Domestic

non-state-

Meiyi Investment

owned 0.87% 5223200

Real Estate Co. Ltd.legal

persons

Overseas

LISHERYNZHANMI

natural 0.66% 4005959

NG

person

Haitong International

Overseas

Securities Company 0.65% 3908357

legal

Limited-Account

5Summary of the 2023 Annual Report of Shenzhen Nanshan Power Co. Ltd.

Client person

Domestic

Huang Yilong natural 0.64% 3866500

person

Explanation of the 1. Shenzhen Energy Corporation holds 100% equity of HONG KONG NAM HOI

above-mentioned (INTERNATIONAL) LTD

shareholders'

relationship or 2. The Company does not know whether the other above-mentioned public

concerted actions shareholders are in relationship or are persons in concerted actions

Description of

shareholders involved

in margin trading and None

securities lending

business (if any)

The top ten shareholders participating share lending through refinancing

□Applicable□ Not applicable

Changes in the top 10 shareholders compared with the previous period

□Applicable □ Not applicable

Unit: share

Changes in the top 10 shareholders compared with the end of the previous period

Number of shares held in

Number of shares lent through shareholders' general accounts and

New/withdr refinancing and not yet returned at credit accounts and shares lent

awal during

Shareholder name the end of the period through refinancing and not yet

the

(full name) returned at the end of the period

reporting

period

Ratio to total Ratio to total

Total quantity Total quantity

share capital share capital

Li Baoqin Withdrawal 3048150 0.51%

LISHERYNZHAN

New 4005959 0.66%

MING

(2) Total number of preferred shareholders of the Company and shareholding status of the top 10

preferred shareholders

□Applicable□ Not applicable

The Company has no preferred shareholders during the reporting period.

6Summary of the 2023 Annual Report of Shenzhen Nanshan Power Co. Ltd.

(3) Disclose the property rights and control relationship between the Company and actual controllers in

the form of block diagrams

Shenzhen State-owned Assets Supervision Shenzhen Nanshan District State-owned

and Administration Commission Assets Supervision and Management Bureau

Shenzhen Shenhuitong Investment Holding

Co. Ltd.Shenzhen Huitong Financial Holdings Fund

Investment Co. Ltd.Shenzhen Kehuitong Investment Holding Co.Ltd.Shenzhen Capital Holdings Co. Ltd.Shenzhen Guangju Investment Holdings (Group)

Co. Ltd.Shenzhen Energy (Hong Kong) International

Limited

Shenzhen Guangju Energy Co. Ltd.HONG KONG NAM HOI

Shenzhen Energy Corporation Shenzhen Guangju Industrial Co. Ltd.(INTERNATIONAL) LTD

Shenzhen Nanshan Power Co. Ltd.

5. Bonds existing on the date of approval of the annual report

□Applicable□ Not applicable

III. Important matters

During the reporting period there were no material changes in the Company's operating conditions. For details

of the Company's business operations and management operations during the reporting period please refer to

the full text of the Company's 2023 Annual Report.

7