公告日期：2026-04-15

Stock code: 000037, 200037 Stock abbreviation: Shenzhen Nanshan Power A, Shenzhen Announcement No.: 2026-021

Nanshan Power B

Shenzhen Nanshan Power Co., Ltd.

2025 Annual Report

April 2026

2025Annual Report

I. Important, contents and definitions

The Board of Directors, directors and senior officers of the Company
warrant 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, Chief
Finance Officer ZHANG Xiaoyin, and ChiefAccountant (accounting officer) LIN
Xiaojia declare that they guarantee the authenticity, accuracy and completeness
of the financial report in this annual report.

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

TheCompany'sprofitdistributionplan reviewedandapprovedbytheBoard
of Directors this time is as follows: based on 602,762,596 shares, a cash dividend
of RMB 0.32 (tax included) will be distributed to all shareholders for every 10
shares, and 0 shares (tax included) will be given as bonus shares. The capital
reserve will not be converted into share capital.

The annual report is prepared in Chinese and English respectively. If there is any
ambiguity 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 and
business plans involved in this annual report (if any) do not constitute a

substantial commitment by the Company to investors. Investors and related
persons are requested to maintain sufficient risk awareness, understand the
differences between plans, forecasts and commitments, and pay attent……
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