241924252630313336373873 2025744737745.1%20242025 6,734846,71192298.86.177.527.2%113.51 615144492.41 2×660MW903,00010100MW2×350MW100MW160MW132MW 550150 2025822 34 2025116.0473.25 6,7348411476.39316.8815.38107.2941127412.959.327.38 1. 20256302024630929.84185.48744.3619.9% 2025630 2025630 2. 20256302024630716.25117.50598.7516.4% 3. 20256302024630213.5967.98145.6131.8%202463023.0%3.419.6% 1. • 20256302024630777.6722.1%605.682024630737.4422.6%570.68 20256302024630386.4218.4%315.4111476.39925.382024630357.8819.5%288.15 20256302024630387.9025.9%287.6213179.4234620.862024630376.6025.6%280.29 20256300.160.09 2025630 20256302024630605.2617.7%498.3999.837.25 2025630 2025630 2025630316.8815.384.6%5.906.097.403.493.132.463.74 20256302024630172.4137.8%107.29202463022.2%4.517.7%63.7610.50.450.2 2. • 20256302024630108.3613.6%93.602024630102.8514.0%88.48 2025630 • 2025630202463087.828.2%80.65 2025630 2025630 202563060410.0%1449.8%39723.3%584.4% 2025630202463020.5437.0%12.95202463019.0%5.213.8% 3. • 2025630202463056.3115.3%47.67202463049.7320.9%39.34 • 2025630202463047.8519.9%38.35 2025630 202563020246308.4610.2%9.32202463015.0%4.619.6% 4. 2025630202463012.718.1%11.68202463010.349.9%9.3220246305.1526.4%3.7920246307.564.4%7.89202463059.5%8.167.6% 5. 20256302×350MW202463034.6131.9%45.66202463029.4823.9%36.54202463029.7321.0%35.9820246304.8898.4%9.68202463014.1%7.121.2% 2025630202463034.124.8%32.49 2025630202463012.7518.9%10.34 2025630202463012.290.3%12.33 2025630188.4420241231298.23109.79 76.662024630148.9072.2474.9682.44 176.03202463039.04136.99 10.43202463053.7543.32 2025630 20256301,427.27202412311,406.1321.141.5%312.7821.9%429.8730.1%398.1627.9%195.9413.7%90.526.4% 2025630450.4620241231457.937.471.6% 202563016.812024123129.7212.9143.4% 202563031.792024123123.907.8933.0% 202563022.752024123134.0911.3433.3% 2025630572.5920241231533.3039.297.4%556.6720241231522.1534.5215.922024123111.154.77 202563083.9820241231102.4318.4518.0% 20256303,567.92202412313,577.9410.020.3%4.780.13% 20256302.39 2025630 2.20257222025K3551.76%25K415152.14% 2025630 2025630 202563011.59 (A+B)(%)(C)70%(D)50%(E)(C+D+E) 2025630 202412312024 1. 6,7348435.50.8188393 20256302024630(%)6,7346,6501.31.4,4054,2952.62.2,0342,0200.73.240253-5.14.5582-32.91.6,2276,0822.42.507568-10.7 2. 12,8683.6%6,7111.4% 20256302024630(%)12,86813,355-3.61.6,7116,6191.42.6,0916,437-5.43.66299-77.91.4,0694,0410.72.4,3654,3211.03.1,5361,757-12.64.1,1861,519-21.95.1,3161,384-4.96.39633318.9 298.82.1%126 316.62.7%10.55 1.66.775.9-12.12.66.076.0-13.2 1.104.6101.92.62.121.4118.32.6 1.MTO2.3. 48.2113.5185% 828.111.3%608.622.0%316.135.0% 7098.319.6184.02.4 2025 10(ROE)(PB)(PE)ESG (ESG)ESGESGESG e 20252650100e2036551204016 7313ESG1A1H122 C1 C3 2410202563034 2025630 % A9,152,000,40069.037,613,205,20857.42H4,106,663,00030.97132,351,0001.0013,258,663,400100.007,745,556,20858.42 2024 20240.25820243,420,735,1572025827 2025 20242025 20256307,325,265,0007,704,701,00020257,325,265,00030%2,197,579,50013,258,663,4000.166 AH2025822202510222025912HHAA 20252025216.7869.7232.16%5.829024.982×660MW2.974.55 2025 2025 20256302025630 2025630336 2025630336 2025630XV352 202563018 202563046,29329,7711,0889,7429402,8451,907 13.51B(1) 2025630 2024202562720242025662025627 202541639 13.51B(1) 20254252025<>20242025AH202542566627 Ernst & Young27/F, One Taikoo Place979 King’s RoadQuarry Bay, Hong Kong Tel曢婘: +852 2846 9888Faxₚ䜆: +852 2868 4432ey.com ⭰㰟㛪姯⸒Ṳ⋀㈧榀㸖毩歁㵳勘䙮怺979噆⤑⏋✱ᷧ⺎27㧺 317220256303434 2410 34 2025630 11 (2,505,422)(3,903,234) 2025630 9,098,96314,079,317 7,325,26510,695,2091,773,6983,384,108 9,098,96314,079,317 7,218,43010,359,3611,776,0253,383,383 8,994,45513,742,744 2025630 31722025822 2025630 2025630 3 2025630 1. 2006822 H200612A20082 2. 2025630IASB3416 20241231 3. 20241231 21 21 4. 20241231 2025630 5. 5.1 (a) (b) •••• 5.2 (a) 2025630 5. 5.2 (b) 2025630 5. 5.2 (b) 2025630 5. 5.3 5.4 2025202463010% 6. (i) 2025630 6. (i) 2025630 6. (i) (ii) 2025630 6. (ii) 7. 2025630 8. 9. 2025630 10. 11. 25%2025630202463015%20%30%15.0%80023.2%800 12. 202563020240.25813,258,663,4003,420,735,15720246307,358,558,00020230.4420.11313,258,663,40020256272024 2024202520252,197,579,50013,258,663,4000.16620246302,936,337,6000.221 2025630 13. 20252024630 14. 15. 16. 17. 2025630 18. (a)121.70%3.10%202412311.80%3.20%2025630206,220,00020241231176,757,000(b)(c)2025630519,838,000(d)202563022,000,000 19. 2025630957,678,00020241231949,371,000 304561 (a), (b), (c)(d)9,244,9078,401,695(f)54,37890,607 9,299,2858,492,302 (e)(f)1,681,2602,972,380 (a) 66112233 2025630 20. (d)2025630238,515,00020241231301,793,000929,729,000202412311,037,478,000(e)20241231202563020241231:(f)202563044,915,0002024123137,650,0002025630704,093,000202412312,271,739,000 21. 202520246301231 3,178,6522,389,502 202563017,898,000202412319,930,000 12 (a)12