Summary of the 2024 Annual Report of Shenzhen Nanshan Power Co. Ltd.Stock code: 000037 200037 Stock abbreviation: Shenzhen Nanshan Power A Shenzhen Announcement No.: 2025-010

Nanshan Power B

Summary of the 2024 Annual Report of Shenzhen Nanshan

Power Co. Ltd.I. Important notes

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.All directors attended the meeting of Board of Directors at which the report was reviewed.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

Whether to increase share capital with provident funds

□Yes □No

Profit distribution plan reviewed and approved by the Company's Board of Directors: the Company plans not to distribute cash

dividends not to distribute bonus shares and not to increase share capital with provident funds.Proposed profit distribution plan for preferred shares approved by the Board of Directors for the reporting period

□ Applicable □Not applicable

II. Basic Information of the Company

1. Company profile

Shenzhen Nanshan Power A

Stock name Ticker 000037200037

Shenzhen Nanshan Power B

Stock exchange Shenzhen Stock Exchange

Securities

Contact and contact information Secretary of the Board of Directors

representative

Name Zou Yi

16/F-17/F Hantang Building OCT Nanshan

Office address

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 primary 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's Nanshan Power Plant had a

1Summary of the 2024 Annual Report of Shenzhen Nanshan Power Co. Ltd.

total of 3 sets of 9E type gas-steam combined cycle generating units with a total installed capacity of 540000 KW. The power

plant is located in the power load center area of Qianhai Free Trade Zone Shenzhen and is the main peak shaving power supply

plant in the region. It is 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 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 sets of 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 generating unit equipment and related assets have been successfully listed for transfer in March

2025.

During the reporting period the Company's primary business of power faced challenges such as fierce competition in the power

market and sustained high fuel price. In the face of the complex and ever-changing economic situation at home and abroad and the

increasingly fierce market competition the Company has strengthened its confidence in development maintained its strategic

focus adhered to the core values of "professionalism and dedication innovation and efficiency courage and decisiveness

harmony and mutual benefit" took deepening reform as a key breakthrough point actively responded to various problems and

challenges and made every effort to promote the orderly development of all work. Through a series of solid measures the

Company's new business layout has achieved breakthroughs the main business has been further compacted the management

efficiency has been continuously improved the market-oriented reform has been steadily advanced and the profit level has

reached a new level laying a solid foundation for the sustainable development of the Company.During the reporting period the Company focused on the operation and development of existing business and market expansion.Its subsidiary Shenzhen Nanshan Power Engineering Company relying on its years of technical experience in the construction of

gas turbine power station projects and accumulated cooperation resources focused on the relevant engineering service business in

the gas turbine field. With professional and refined technical capabilities it signed a number of contracts successively to provide

professional technical services for customers; Shenzhen Nanshan Power Environmental Protection Company takes integrated

energy service as the transformation development direction comprehensively develops integrated energy service projects such as

industrial and commercial energy storage distributed photovoltaics and charging piles and strives to build a new integrated

energy service business model. It has initially formed an integrated service model of "investment construction operation

management and maintenance"; Xiefu Company actively expanded its business scope focused on the property lease management

service business of Energy Corporation and significantly improved its market development ability property management ability

and profitability. At the same time it efficiently revitalized inefficient resources and successfully completed the transfer of 40%

equity of Huidong Xiefu.

3. Key accounting data and financial indicators

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

Whether the Company needs to retroactively adjust or restate the accounting data of previous years

□Yes □No

Unit: RMB

Change compared with

End of 2024 End of 2023 the end of the previous End of 2022

year

Total assets 2012736635.59 2049365388.69 -1.79% 2606216345.99

Net assets attributable to

shareholders of listed 1485380575.08 1459288691.94 1.79% 1455129894.84

companies

Change compared with

202420232022

the previous year

2Summary of the 2024 Annual Report of Shenzhen Nanshan Power Co. Ltd.

Operating revenue 442971955.85 589780190.71 -24.89% 694227657.28

Net profit attributable to

shareholders of listed 21908828.57 4158797.10 426.81% -160163240.67

companies

Net profit attributable to

shareholders of listed

companies after deducting -87508091.57 -70789007.91 -23.62% -225967573.71

non-recurring profit or

loss

Net cash flows from

-37635766.05-100371976.9262.50%207168402.26

operating activities

Basic earnings per share

0.03630.0069426.09%-0.2657

(RMB/share)

Diluted earnings per share

0.03630.0069426.09%-0.2657

(RMB/share)

Weighted average rate of Increased by 1.20

1.49%0.29%-10.43%

return on net assets percentage points

(2) Key accounting data by quarter

Unit: RMB

Q1 Q2 Q3 Q4

Operating revenue 80580975.91 107323288.80 183104712.19 71962978.95

Net profit attributable

to shareholders of -29071219.61 -8779890.29 -7777120.17 67537058.64

listed companies

Net profit attributable

to shareholders of

listed companies after -32868603.74 -11891453.34 -11138395.03 -31609639.46

deducting non-

recurring profit or loss

Net cash flows from

-71854442.0518857950.62-28410239.0543770964.43

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 number

Total Total number of

of ordinary

number of preferred Total number of preferred

shareholders

ordinary shareholders shareholders whose voting

at the end of

shareholder whose voting rights were restored at the

39609 the month 40424 0 0

s at the end rights were end of the month prior to

prior to the

of the restored at the the disclosure date of the

disclosure

reporting end of the annual report

date of the

period reporting period

annual report

3Summary of the 2024 Annual Report of Shenzhen Nanshan Power Co. Ltd.

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

Number of shares Pledge marking or freezing

Nature of Shareholding

Name Number of shares held held with selling

shareholder ratio

restrictions Share status Quantity

HONG

KONG

NAM HOI Overseas

15.28% 92123248 0 Not applicable 0

(INTERNA legal person

TIONAL)

LTD

Shenzhen

Guangju State-owned

12.22% 73666824 0 Not applicable 0

Industrial legal person

Co. Ltd.Shenzhen

Energy State-owned

10.80% 65106130 0 Not applicable 0

Corporatio legal person

n

Domestic

Zeng Ying natural 1.19% 7159600 0 Not applicable 0

person

GUOTAI

JUNAN

SECURITI

Overseas

ES 1.09% 6592879 0 Not applicable 0

legal person

（HONGKONG）

LIMITED

Domestic

Li Baoqin natural 0.97% 5835773 0 Not applicable 0

person

China

Merchants

Securities Overseas

0.90% 5438154 0 Not applicable 0

(Hong legal person

Kong) Co.Ltd.BOCI

SECURITI Overseas

0.73% 4423066 0 Not applicable 0

ES legal person

LIMITED

LISHERY Overseas

NZHANMI natural 0.69% 4149400 0 Not applicable 0

NG person

Haitong

Internation

al

Securities Overseas

0.65% 3908357 0 Not applicable 0

Company legal person

Limited-

Account

Client

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

mentioned shareholders' (INTERNATIONAL) LTD

relationship or concerted 2. The Company is unaware of whether the above-mentioned other public shareholders have any

actions relationship or are persons acting in concert.Description of shareholders

None

involved in margin trading

4Summary of the 2024 Annual Report of Shenzhen Nanshan Power Co. Ltd.

and securities lending

business (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

(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.

(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 and Shenzhen Nanshan District Finance Bureau

Administration Commission

Shenzhen Shenhuitong Investment Holdings

Co. Ltd

Shenzhen Huitong Financial Holding Fund

Investment Co. Ltd

Shenzhen Kehuitong Investment Holdings

Shenzhen Capital Holdings Co. Ltd Co. Ltd

Shenzhen Guangju Investment Holdings (Group) Co.Ltd

Shenzhen Energy (H.K.) International Limited

Shenzhen Guangju Energy Co. Ltd.Shenzhen Energy Corporation Hong Kong Nam Hoi (International) Shenzhen Guangju Industrial Co. Ltd.Limited

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 Company's 2024 Annual Report.

5