2026年半年度报告（英文版）

2026 Semi-Annual Report of Shenzhen Nanshan Power Co., Ltd. 1 Stock Codes: 000037, 200037 Stock Abbreviation: Shennan Power A, Shennan Power B Announcement No.: 2026-050 Shenzhen Nanshan Power Co., Ltd. 2026 Semi-Annual Report August 25, 2026 2026 Semi-Annual Report of Shenzhen Nanshan Power Co., Ltd. 2 Section I Important Notes, Table of Contents and Interpretations The Board of Directors, directors, and senior executives of the Company guarantee the authenticity, accuracy and completeness of the contents of the semi-annual report, and bear individual and joint legal liabilities for any false records, misleading statements or major omissions. Kong Guoliang, Principal and Person in Charge of Accounting of the Company, Zhang Xiaoyin, Chief Finance Officer of the Company, and Lin Xiaojia, Chief Accountant (accounting officer) of the Company, hereby declare that they guarantee the authenticity, accuracy, and completeness of the financial report in this Semi-annual Report. All the Company's directors have attended the board meeting for the review of this Semi-Annual Report. The Company plans not to distribute cash dividends, issue bonus shares, or convert capital reserve into share capital. Any plans for the future or other forward-looking statements mentioned in this Semi-Annual Report shall not be considered as absolute promises of the Company to investors. Therefore, investors are reminded to exercise caution when making investment-related decisions. This Semi-Annual Report is prepared in both Chinese and English. In case of any discrepancy in the understanding of the two versions, the Chinese version shall prevail. Investors are advised to read the full text of this Semi-Annual Report carefully. 2026 Semi-Annual Report of Shenzhen Nanshan Power Co., Ltd. 3 Table of Contents Section I Important Notes, Table of Contents and Interpretations ............................................................ 2 Section II Company Profile and Financial Indicators ..................................................................................... 6 Section III Discussion and Analysis of the Management .............................................................................. 9 Section IV Corporate Governance, Environment, and Society ................................................................... 25 Section V Important Matters .................................................................................................................................... 27 Section VI. Share Changes and Shareholders .................................................................................................. 38 Section VII Bonds ........................................................................................................................................................ 45 Section VIII Financial Report .............................................................................................