深南电B：2025年半年度报告

Shenzhen Nanshan Power Co., Ltd.The Semi-AnnualReport 2025 August 22, 2025 Section I ImportantNotes,TableofContentsandDefinitions The Board of Directors, the Board of Supervisors, directors, supervisors and senior officers ofthe Company guarantee that the contents of thesemi-annual report are true, accurate andcomplete, and do not contain false records, misleading statements or major omissions, and thatthey bear individual and joint legal liabilities. Kong Guoliang (legal representative), Chen Yuhui (chief accountant), Zhang Xiaoyin (ChiefFinancial Officer), and Lin Xiaojia (head of the accounting department) (accounting officer)declare that the financial reports in thissemi-annualreport are true, accurate and complete. All directors attended the meeting of Board of Directors at which thesemi-annualreport wasreviewed. The Company has planned not to distribute cash dividends, give away bonus shares, orincrease share capital by capital reserves. Any forward-looking statements in this semi-annual report, including future plans,do notconstitute a material commitment of the Company to investors. Investors are kindly requestedto pay attention to investment risks. Thesemi-annual report is prepared in Chinese and English respectively.In case of anyambiguity between the two versions, the Chinese version shall prevail. Investors are advised toread the full text of thissemi-annualreport carefully. Table ofContents Section I Important Notes, Table of Contents and Definitions...................................................................2Section II Company Profile and Key Financial Indicators..........................................................................6Section III Management Discussion and Analysis.....................................................................................9Section IV Corporate Governance, Environment andSociety.................................................................26Section V Important Matters.....................................................................................................................28Section VI Changes in Shares and Shareholders...................................................................................35Section VII Bonds.....................................................................................................................................40Section VIII Financial Report....................................................................................................................41Section IX Other Data............................................................................................................................145 List of Documents for Inspection I. Original of the 2025semi-annualreport bearing the signature of the Company's legal representative. II. Financial statements signed and stamped by the Company's Legal Representative, Chief Accountant,Chief Financial Officer and Head of the Finance Department (Finance Head). III. The originals of all the Company's documents and announcements that have been publicly disclosedin the designated media during the reporting period. IV. Place of inspection: office of the Company's Board of Directors. Interpretation Section II CompanyProfile and Key Financial Indicators I. Company profile II. Contact and contact information III. Other information 1. Contact information of the Company Whether the Company's registered address, office address, postal code, website, e-mail address, etc.have changed during the reporting period □ApplicableNot applicable The Company's registered address, office address and postal code, website and e-mail address havenot changed during the reporting period. For details, please refer to the 2024 Annual Report. 2. Place of information disclosureand provision Whether the place of information disclosure and provision has changed during the reporting period □ApplicableNot applicable The website of stock exchange and the name and URL of the media where the Company discloses itssemi-annualreport,and the place of provision of the Company'ssemi-annualreport have not changedduring the reporting period. For details, please refer to the 2024 Annual Report. 3. Other relevant information Whether other relevant information has changed in the reportingperiod □ApplicableNot applicable IV. Key accounting data and financial indicators Whether the Company needsto retroactively adjust or restate the previous accounting data 1. Differences in netprofit and net assets in financial reports disclosed in accordance with bothinternational and Chinese accounting standards □ApplicableNot applicable There was no difference between net profit and net assets in the financial reports disclosed inaccordance with both international and Chinese accounting standards during the reporting period of theCompany. 2. Differences in net profit and net assets in financial reports disclosed in accordance with bothinternational and Chinese accounting