Earnings release
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. CGN Power Co., Ltd.* ʮ̡ (A joint stock company incorporated in the People ’s Republic of China with limited liability) (Stock Code: 1816) INSIDE INFORMATION THIRD QUARTERLY REPORT OF 2025 This announcement is made by CGN Power Co., Ltd.* (the “Company ”) pursuant to Rule 13.09 and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of The Laws of Hong Kong). The following is the 2025 Third Quarterly Report (the “2025 Third Quarterly Report ” or the “Report ”) published on the website of the Shenzhen Stock Exchange, which sets out the unaudited results of the Company and its subsidiaries for the nine months ended September 30, 2025 for illustrative purpose only. Financial data contained in the Report have been prepared according to the China Accounting Standards for Business Enterprises. The Report has been prepared in Chinese and English. In case of discrepancy, the Chinese version shall prevail. By Order of the Board CGN Power Co., Ltd.* Yin Engang Chief Financial Officer, Joint Company Secretary and Board Secretary The PRC, October 28, 2025 As at the date of this announcement, the Board of the Company comprises Mr. Gao Ligang as an executive Director; Mr. Yang Changli, Ms. Li Li, Mr. Pang Songtao, Mr. Feng Jian and Mr. Liu Huanbing as non-executive Directors; Mr. Wong Ming Fung, Mr. Li Fuyou and Ms. Xu Hua as independent non-executive Directors. * For identification purpose only
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 1 CGN Power Co., Ltd.* 2025 Third Quarterly Report The Company and all members of the Board of Directors warrant the truthfulness, accuracy and completeness of the information disclosed, and that there are no false representations, misleading statements or material omissions. Important notice: 1. The Board of Directors, Directors and senior management of the Company warrant the truthfulness, accuracy and completeness of this quarterly report, and warrant that there are no false representations, misleading statements, or material omissions of information in the report, and they jointly and severally accept responsibility for the report. 2. The legal representative of the Company, the person-in-charge of accounting affairs and the person-in-charge of accounting department (the head of accounting department) hereby declare and warrant the truthfulness, accuracy and completeness of the financial statements in this quarterly report. 3. Whether the Third Quarterly Financial Accounting Report has been audited □ Yes No Definitions Terms Means Definitions “Board” or “Board of Directors” Means the board of Directors of the Company “Director(s)” Means director(s) of the Company “Our Company”, “Company”, “CGN Power” Means CGN Power Co., Ltd.* ( 中國廣核電力股份有限公司) “Group” Means CGN Power Co., Ltd. and its subsidiaries “CGNPC” Means China General Nuclear Power Corporation* (中國廣核集團有限公司), a controlling shareholder of the Company “CNNC” Means China National Nuclear Corporation (中國核工業集團有限公司)，which holds approximately 3.32% of the issued share capital of the Company “Hengjian Investment” Means Guangdong Hengjian Investment Holding Co., Ltd.* (廣東恒健投資控股有限公 司)，which holds approximately 6.79% of the issued share capital of the Company “Huizhou Nuclear” Means CGN Huizhou Nuclear Power Co., Ltd.* (中廣核惠州核電有限公司), which was acquired by the Company from CGNPC in October 2025 and has not been completed “Taishan No. 2 Nuclear” Means CGN Taishan No. 2 Nuclear Power Co., Ltd.* (中廣核台山第二核電有限公司), which was acquired by the Company from CGNPC in January 2025, and is a wholly-owned subsidiary in which the Company directly holds 100% of the equity interest “This Reporting Period” Means from July 1, 2025 to September 30, 2025 Stock Code: 003816 Stock Abbreviation: CGN Power ANN NO.: 2025-071 Bond Code: 127110 Bond Abbreviation: CGN Convertible Bond
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 2 I. MAJOR FINANCIAL DATA (I) Major accounting data and financial indicators Does the Company require retrospective adjustment or restatement of the financial data for previous years? Yes □ No Reasons of retrospective adjustment or restatement Company merger under common control This Reporting Period Same period of previous year Changes between this Reporting Period and the same period of previous year The beginning of the year to the end of This Reporting Period Same period of previous year Changes between the beginning of the year to the end of This Reporting Period and the same period of previous year Before adjustment After adjustment After adjustment Before adjustment After adjustment After adjustment Operating revenue (RMB) 20,555,714,4 95.35 22,893,428,1 19.26 22,892,809,8 68.00 -10.21% 59,722,893,8 45.50 62,270,164,6 45.35 62,268,595,2 33.25 -4.09% Net profit attributable to the shareholders of the listed company (RMB) 2,624,126,36 6.18 2,874,244,54 1.62 2,877,609,18 6.16 -8.81% 8,575,941,31 9.43 9,983,531,15 8.34 9,988,596,66 3.77 -14.14% Net profit attributable to the shareholders of the listed company (excluding the non- recurring gains or losses) (RMB) 2,570,224,75 0.91 2,778,066,62 9.53 2,781,431,27 4.07 -7.59% 8,179,508,01 1.22 9,737,798,61 5.85 9,742,864,12 1.28 -16.05% Net cash flows from operation activities (RMB) — — — — 20,792,177,2 75.64 25,820,398,9 97.06 25,820,398,9 97.06 -19.47% Basic earnings per share (RMB per share) 0.0520 0.0569 0.0570 -8.77% 0.1698 0.1977 0.1978 -14.16%
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 3 Diluted earnings per share (RMB per share) 0.0511 0.0569 0.0570 -10.35% 0.1689 0.1977 0.1978 -14.61% Weighted average return on equity 2.15% 2.45% 2.43% Decreased by 0.28 percentage point 7.01% 8.60% 8.51% Decreased by 1.50 percentage points At the end of This Reporting Period At the end of previous year Changes between the end of This Reporting Period and the end of previous year Before adjustment After adjustment After adjustment Total assets (RMB) 447,141,830,393.99 425,400,654, 520.48 426,661,678,599.25 4.80% Equity attributable to the shareholders of the listed company (RMB) 123,350,802,700.77 119,441,293,507.77 120,639,452,737.11 2.25% (II) Non-recurring gains or losses items and the related amount Applicable □ Not applicable Unit: RMB0’000 Item Amounts of This Reporting Period Amount of The beginning of the year to the end of This Reporting Period Remarks Gains or losses from disposal of non- current assets (including the written-off part of asset impairment provision) 1,121.10 2,901.43 Mainly due to the gains on disposal of land use right and properties. Government grants recognized in profit or loss for the period (except for those closely related to the Company’s normal business, in compliance with national policies, enjoyed in accordance with specified standards and having a continuous impact on the profit or loss of the Company) 6,242.84 19,382.67 Mainly due to the receipt of government grants for research projects. Except for the effective hedging transactions related to the normal operation of the Company, the gains and losses from changes in fair value of financial assets and financial liabilities held by non-financial enterprises, and gains and losses from disposal of financial assets and financial liabilities -81.90 5,871.90 Mainly due to the gains and losses arising from the forward foreign exchange hedging business.
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 4 Other non-operating income and expenses other than the items above -1,119.68 19,468.74 Mainly due to the refund of late tax payment penalties, donations and losses on retirement of assets. Less: Income tax effect 316.20 4,911.05 Effect on non-controlling shareholders (after tax) 456.00 3,070.36 Total 5,390.16 39,643.33 -- Details of other gains or losses items that meet the definition of non-recurring gains or losses: □ Applicable Not applicable The Company did not have details of other gains or losses items that meet the definition of non-recurring gains or losses. Explanation of the circumstances in which the non-recurring gains and losses items listed in the “Interpretative Announcement for Information Disclosure of Companies That Offer Securities to the Public No. 1 – Non-recurring Gains and Losses” (《公開發行證 券的公司信息披露解釋性公告第 1 號－非經常性損益》) are being defined as recurring gains and losses items. □ Applicable Not applicable The Company did not have circumstances in which the non-recurring gains and losses items listed in the “Interpretative Announcement for Information Disclosure of Companies That Offer Securities to the Public No. 1 – Non-recurring Gains and Losses” (《公開發行證券的公司信息披露解釋性公告第 1 號－非經常性損益》) are being defined as recurring gains and losses items. (III) Circumstances for changes in key accounting data and financial indicators and the reasons thereof Applicable □ Not applicable From January 2025 to September 2025, the total on-grid power generation of nuclear power generating units operated and managed by the Company was approximately 172.179 billion kWh, representing a year-on-year increase of 3.17%. The on-grid power generation of the holding subsidiaries of the Company was approximately 135.746 billion kWh, representing a year-on-year increase of 4.15%. Operating revenue of the Group for January 2025 to September 2025 was approximately RMB59.723 billion, representing a year-on-year (restated) decrease of 4.09%, primarily due to an increase in the electricity arising from the market-based transactions by the Company’s subsidiaries and a decrease in market electricity prices as a result of the overall condition of the electricity market. Total profit of the Group for January 2025 to September 2025 was approximately RMB16.272 billion and the net profit attributable to the shareholders of the listed company was approximately RMB8.576 billion, representing a year-on-year (restated) decrease of 12.54% and 14.14%, respectively, primarily due to an increase in the electricity arising from the market-based transactions by the Company’s subsidiaries and a decrease in market electricity prices as a result of the overall condition of the electricity market. 1. Consolidated balance sheet Unit: RMB0’000 Item At the end of This Reporting Period At the end of previous year Change rate Analysis of reasons for change Cash at bank and in hand 2,852,725.44 1,681,174.50 69.69% Mainly due to the issuance of A-share convertible corporate bonds and the fund for the acquisition of equity interests in four companies, including Huizhou Nuclear, in the third quarter. Dividends receivable 4,782.91 30,367.04 -84.25% Mainl y due to dividends declared by associates. Contract assets 580,127.81 346,258.86 67.54% Mainly due to changes in the progress of engineering project settlement.
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 5 Other non-current assets 974,468.51 730,368.50 33.42% Mainly due to the increase in prepayments for long-term assets such as construction equipment and input tax credit for value-added tax to be deducted. Short-term loans 3,271,920.40 1,726,374.55 89.53% Mainly due to debt restructuring and an increase in short-term borrowings from external banks of subsidiaries. Bills payable 340,689.54 666,454.91 -48.88% Mainly due to maturity of bank acceptance bills. Other current liabilities 18,535.91 271,251.66 -93.17% Mainly due to the maturity of ultra short-term financing bonds. Bonds payable 964,503.00 239,680.40 302.41% Mainly due to the issuance of A-share convertible corporate bonds and interim notes by the Company. Specific reserve 16,659.47 4,889.98 240.69% Mainly due to the increase in unutilized safety production fees after withdrawal. 2. Consolidated income statement from the beginning of the year to the end of This Reporting Period Unit: RMB0’000 Item The beginning of the year to the end of This Reporting Period Same period of previous year Change rate Analysis of reasons for change Selling expenses 1,932.63 3,067.22 -36.99% Mainly due to the decrease in market development investment in non-nuclear construction projects of subsidiaries. Gains on changes in fair value 2,904.40 0.00 Not applicable Mainly due to the change in fair value arising from the forward foreign exchange hedging business. Credit impairment losses 2,238.81 15,116.24 -85.19% Mainly due to the reversal of a large amount of provision for impairment of construction receivables by a subsidiary in the corresponding period of the previous year. Gains from disposal of assets 2,901.43 1,113.86 160.48% Mainly due to the increase in gains on disposal of land use right and properties of subsidiaries. Non-operating revenue 2,210.89 5,163.70 -57.18% Mainly due to the decrease in the amount of retirement of assets. Non-operating expenses -17,245.71 8,100.18 -312.91% Mainly due to the refund of late tax payment penalties, donations and losses on retirement of assets. Change in fair value of investment in other equity instruments 5,586.95 -1,918.42 391.23% Mainly due to the increase in the value of equity investment held by subsidiaries. Translation differences arising from translation of foreign currency financial statements -10,958.41 -6,505.10 -68.46% Mainly due to the effect of the change in exchange rates.
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 6 3. Consolidated cash flow statement from the beginning of the year to the end of This Reporting Period Unit: RMB0’000 Item The beginning of the year to the end of This Reporting Period Same period of previous year Change rate Analysis of reasons for change Cash received from investment gains 129,961.83 75,059.72 73.14% Mainly due to the increase in dividends declared by associates. Net cash received from disposal of fixed assets, intangible assets and other long-term assets 41,595.08 6,567.98 533.30% Mainly due to the increase in cash received from the transfer of assets by subsidiaries. Cash paid for construction of fixed assets, intangible assets and other long-term assets 1,666,951.25 961,989.68 73.28% Mainly due to the increase in the investment of nuclear power projects. Cash paid for investment 19,500.00 27,944.66 -30.22% Mainly due to the decrease in the cash paid for capital injection to the investment projects. Net cash flow from investing activities -1,425,379.23 -921,846.62 -54.62% Mainly due to the increase in the investment of nuclear power projects. Cash receipts from capital contributions 18,550.00 9,760.00 90.06% Mainly due to the increase in cash received for capital increase by subsidiaries from non- controlling shareholders. Cash paid for other financing activities 147,673.45 24,329.42 506.97% Mainly due to the cash consideration paid for the acquisition of Taishan No. 2 Nuclear. Net cash flows from financing activities 607,068.34 -1,176,006.75 151.62% Mainly due to the increase in external bank borrowings by the subsidiaries based on their operating and investment requirements. II. SHAREHOLDERS’ INFORMATION (I) Total number of shareholders of ordinary shares and shareholders of preference shares whose voting rights have been restored and shareholdings of the top 10 shareholders Unit: share Total number of shareholders of ordinary shares at the end of This Reporting Period 228,154 (of which 225,270 are A share shareholders and 2,884 are H share shareholders) Total number of shareholders of preference shares whose voting rights have been restored at the end of This Reporting Period (if any) 0 Shareholdings of the top 10 shareholders (excluding shares lent through refinancing) Name of shareholders Nature of shareholders Shareholding Percentage of shares held Number of shares held subject to trading restrictions Pledged, marked or frozen Status of shares Number CGNPC State- owned legal person 58.89% 29,736,876,375 0 Not applicable 0 Hong Kong Securities Clearing Company Limited Overseas legal person 14.83% 7,486,709,401 0 Not applicable 0
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 7 Hengjian Investment State- owned legal person 6.79% 3,428,512,500 0 Pledged 662,000,000 CNNC State- owned legal person 3.32% 1,679,971,125 0 Not applicable 0 CITIC Securities Company Limited State- owned legal person 2.93% 1,479,092,000 0 Not applicable 0 BlackRock, Inc. Overseas legal person 1.56% 787,788,326 0 Not applicable 0 Citigroup Inc. Overseas legal person 1.35% 682,218,034 0 Not applicable 0 China Life Insurance Company Ltd.* (中國 人壽保險股份有限公 司) State- owned legal person 0.88% 446,538,400 0 Not applicable 0 Industrial and Commercial Bank of China Limited – Huatai- PineBridge CSI 300 Exchange-traded Open- end Index Securities Investment Fund* (中 國工商銀行股份有限 公司－華泰柏瑞滬深 300 交易型開放式指數 證券投資基金) Others 0.27% 134,199,600 0 Not applicable 0 China Construction Bank Corporation – E Fund CSI 300 Trading Open-end Index Securities Investment Fund* (中國建設銀行 股份有限公司－易方 達滬深 300 交易型開 放式指數發起式證券 投資基金) Others 0.19% 96,822,400 0 Not applicable 0 Shareholdings of the top 10 shareholders whose shares are not subject to trading restrictions (excluding shares lent through refinancing and locked shares held by senior management) Name of shareholders Number of shares held not subject to trading restrictions Type and number of shares Type of shares Number CGNPC 29,736,876,375 RMB-denominated ordinary shares 29,176,641,375 Overseas listed foreign shares 560,235,000 Hong Kong Securities Clearing Company Limited 7,486,709,401 RMB-denominated ordinary shares 278,365,302 Overseas listed foreign shares 7,208,344,099 Hengjian Investment 3,428,512,500 RMB-denominated ordinary shares 3,428,512,500
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 8 CNNC 1,679,971,125 RMB-denominated ordinary shares 1,679,971,125 CITIC Securities Company Limited 1,479,092,000 Overseas listed foreign shares 1,479,092,000 BlackRock, Inc. 787,788,326 Overseas listed foreign shares 787,788,326 Citigroup Inc. 682,218,034 Overseas listed foreign shares 682,218,034 China Life Insurance Company Ltd.* (中國人 壽保險股份有限公司) 446,538,400 RMB-denominated ordinary shares 22,319,400 Overseas listed foreign shares 424,219,000 Industrial and Commercial Bank of China Limited – Huatai-PineBridge CSI 300 Exchange-traded Open-end Index Securities Investment Fund* (中國工商銀行股份有限公 司－華泰柏瑞滬深 300 交易型開放式指數證 券投資基金) 134,199,600 RMB-denominated ordinary shares 134,199,600 China Construction Bank Corporation – E Fund CSI 300 Trading Open-end Index Securities Investment Fund* (中國建設銀行股份有限公 司－易方達滬深 300 交易型開放式指數發起 式證券投資基金) 96,822,400 RMB-denominated ordinary shares 96,822,400 Description of the connected relationship or concert party relationship of the above shareholders 1. Hengjian Investment is a shareholder holding 10% shares in CGNPC; 2.The Company is not aware of any connected relationship between other shareholders or whether the parties are acting in concert or not. Description of top 10 shareholders which engaged in margin financing and securities lending business (if any) The Company has not found the top 10 shareholders engaged in margin financing and securities lending business. Involvement of shareholders holding more than 5% of shares, top 10 shareholders and top 10 shareholders whose shares are not subject to trading restrictions in the lending of shares through refinancing business □ Applicable Not applicable Changes of top 10 shareholders and top 10 shareholders whose shares are not subject to trading restrictions compared to the previous period due to reasons related to shares lent through refinancing/returned □ Applicable Not applicable (II) Total number of shareholders of preference shares of the Company and the shareholdings of the top 10 shareholders of preference shares of the Company □ Applicable Not applicable III. OTHER SIGNIFICANT EVENTS Applicable □ Not applicable 1. Issuance of A share convertible corporate bonds to non-specific investors In July 2025, the issuance and listing of A share convertible corporate bonds to non-specific investors by the Company were completed. The total amount of the proceeds raised from the issuance amounted to RMB4.9 billion. The net proceeds after deducting issuance expenses has been used for the construction of Lufeng Unit 5 and Unit 6. As at October 20, 2025, the proceeds raised has been used for the swap of self-raised funds for pre-investment projects, with payment for issuance expenses made. All special accounts for proceeds raised have been cancelled. For details, please refer to the announcements nos. 2025- 050, 2025-054, 2025-055 and 2025-069 published by the Company on July 15, July 21, July 23, and October 20, 2025.
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 9 2. Proposed acquisition of the equity interests in four companies including Huizhou Nuclear Power from the controlling shareholder On August 27, 2025, the Board of the Company considered and approved the resolutions on the connected transaction in relation to the acquisition of the equity interests in four companies including Huizhou Nuclear Power. The Company proposed to acquire from CGNPC 82% of the equity interests in Huizhou Nuclear Power, 100% of the equity interests in CGN Huizhou No. 2 Nuclear Power Co., Ltd. (中廣核惠州第二核電有限公司), 100% of the equity interests in CGN Huizhou No. 3 Nuclear Power Co., Ltd. (中廣核惠州第三核電有限公司), and 100% of the equity interests in CGN Zhanjiang Nuclear Power Co., Ltd. (中廣核湛江核電有限公司) in cash. On October 16, 2025, the transaction has been approved at the extraordinary general meeting of the Company. For details, please refer to the announcements nos. 2025-060 and 2025-068 published by the Company on August 27 and October 16, 2025. IV. QUARTERLY FINANCIAL STATEMENTS (I) FINANCIAL STATEMENTS 1. Consolidated balance sheet Prepared by: CGN Power Co., Ltd.* September 30, 2025 Unit: RMB Item Balance as at the end of the period Balance as at the beginning of the period Current assets: Cash at bank and in hand 28,527,254,404.88 16,811,745,029.99 Settlement reserve Placements to banks and other financial institutions Financial assets held for trading Derivative financial assets 22,722,000.00 0.00 Bills receivable 2,725,643.30 9,681,081.65 Accounts receivable 6,939,356,414.14 9,196,758,436.92 Accounts receivable financing Prepayments 24,465,774,681.73 22,707,863,357.96 Premium receivable Amounts due from reinsurers Reinsurance contract reserve receivable Other receivables 489,397,621.09 717,841,037.28 Including: Interests receivable Dividends receivable 47,829,051.89 303,670,446.81 Financial assets purchased under agreements to resell Inventories 20,822,456 ,618.83 20,303,476,342.94 Including: data resources Contract assets 5,801,278,092.13 3,462,588,571.19 Held-for-sale assets Non-current assets due within one year Other current assets 1,434,472,759.57 2,297,476,818.72 Total current assets 88,505,438,235.67 75,507,430,676.65 Non-current assets: Loans receivables Debt investment 59,785,414.49 59,767,538.42 Other debt investments Long-term receivables
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 10 Long-term equity investments 16,517,983,519.93 15,636,457,668.96 Other investment in equity instruments 727,445,870.13 661,717,070.13 Other non-current financial assets Investment properties 106,382,789.93 113,729,773.69 Fixed assets 253,602,416,825.12 261,803,462,602.03 Construction in progress 57,235,674,191.46 46,004,250,883.86 Bearer biological assets Oil and gas assets Right-of-use assets 1,061,719,149.51 1,230,102,712.53 Intangible assets 6,756,497,905.34 6,108,717,817.12 Including: data resources Development costs 7,716,781,595.81 7,346,432,933.33 Including: data resources Goodwill 419,242,673.32 419,242,673.32 Long-term deferred expenses 1,966,625,000.10 1,792,436,070.41 Deferred income tax assets 2,721,152,166.60 2,674,245,182.70 Other non-current assets 9,744,685,056.58 7,303,684,996.10 Total non-current assets 358,636,392,158.32 351,154,247,922.60 Total assets 447,141,830,393.99 426,661,678,599.25 Current liabilities: Short-term loans 32,719,204,024.66 17,263,745,458.99 Due to central banks Placements from banks and other financial institutions Financial liabilities held for trading Derivative financial liabilities 0.00 6,322,000.00 Bills payable 3,406,895,440.89 6,664,549,111.26 Accounts payable 19,653,280,547.86 20,191,743,584.05 Receipts in advance 478,109.89 428,571.43 Contract liabilities 8,269,575,955.34 7,655,611,374.19 Financial assets sold under agreement to repurchase Customer deposits and placements from other financial institutions Customer brokerage deposits Securities underwriting brokerage deposits Employee benefits payable 45,823,506.31 56,482,922.52 Taxes payable 1,785,451,792.53 1,938,781,248.88 Other payables 4,740,468,513.80 5,953,028,457.93 Including: Interests payable Dividends payable 652,852,671.71 718,840,000.00 Fees and commissions payable Amounts due to reinsurers Held-for-sale liabilities Non-current liabilities due within one year 25,022,600,643.91 21,031,496,129.50 Other current liabilities 185,359,141.04 2,712,516,573.47 Total current liabilities 95,829,137,676.23 83,474,705,432.22 Non-current liabilities: Reserve of insurance contract Long-term loans 154,863,989,681.64 155,783,990,687.35 Bonds payable 9,645,029,962.24 2,396,804,008.97 Including: Preference shares Perpetual bonds Lease liabilities 750,494,657.20 856,786,358.07
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 11 Long-term payables Long-term employee benefits payable 47,122,000.00 48,751,000.00 Provisions 7,116,601,734 .24 6,994,417,652.42 Deferred income 2,031,815,706.43 2,089,726,062.19 Deferred income tax liabilities 1,698,625,053.08 1,502,097,021.66 Other non-current liabilities Total non-current liabilities 176,153,678,794.83 169,672,572,790.66 Total liabilities 271,982,816,471.06 253,147,278,222.88 Owners’ equity: Share capital 50,498,611,100.00 50,498,611,100.00 Other equity instruments 52,207,895.90 0.00 Including: Preference shares Perpetual bonds Capital reserve 10,857,842,764.39 12,044,043,600.22 Less: Treasury stock Other comprehensive income 819,709,124.08 875,151,998.05 Specific reserve 166,594,659.71 48,899,762.39 Surplus reserve 6,933,033,957.19 6,933,033,957.19 General provisions Retained earnings 54,022,803,199.50 50,239,712,319.26 Total equity attributable to owners of the parent company 123,350,802,700.77 120,639,452,737.11 Non-controlling interests 51,808,211,222.16 52,874,947,639.26 Total owners’ equity 175,159,013,922.93 173,514,400,376.37 Total liabilities and owners’ equity 447,141,830,393.99 426,661,678,599.25 Legal representative: Yang Changli Person-in-charge of accounting: Yin Engang Head of accounting department: Wang Benfu 2. Consolidated income statement from the beginning of the year to the end of This Reporting Period Unit: RMB Item Amount for This Reporting Period Amount for the previous corresponding period I. Total revenue 59,722,893,845.50 62,268,595,233.25 Including: Operating revenue 59,722,893,845.50 62,268,595,233.25 Interest income Premium earned Fees and commission income II. Total operating costs 46,507,506,538.24 46,635,077,951.03 Including: Operating costs 39,687,206,224.70 39,396,016,676.41 Interest expenses Fees and commission expenses Cash surrender value Claim settlement expenses, net Net insurance contract reserves Policy dividend expense Reinsurance expenses Tax and surcharges 657,220,462.70 663,651,443.57 Selling expenses 19,326,345.82 30,672,161.18 Administrative expenses 1,820,406,356.96 1,777,158,634.79 Research and development expenses 885,193,252.72 887,162,432.27 Finance costs 3,438,153,895.34 3,880,416,602.81 Including: Interest expenses 3,618,578,742.76 4,179,582,696.19 Interest income 169,634,782.30 200,846,887.91
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 12 Add: Other gains 1,053,388,906.02 1,229,112,451.64 Investment income (losses are denoted by “-”) 1,732,443,660.86 1,613,768,519.28 Including: Income from investment in associates and joint ventures 1,697,926,267.72 1,617,316,225.49 Gain on derecognition of financial assets measured at amortized cost Foreign exchange gain (losses are denoted by “-”) Net exposure hedging gains (losses are denoted by “-”) Gains from changes in fair value (losses are denoted by “-”) 29,044,000.00 0.00 Credit impairment losses (losses are denoted by “-”) 22,388,050.84 151,162,401.26 Asset impairment losses (losses are denoted by “-”) -4,555,881.25 -5,201,913.04 Gain from disposal of assets (losses are denoted by “-”) 29,014,302.23 11,138,635.38 III. Operating profit (losses are denoted by “-”) 16,077,110,345.96 18,633,497,376.74 Add: Non-operating income 22,108,880.78 51,636,983.29 Less: Non-operating expenses -172,457,145.87 81,001,754.24 IV . Total profit (total losses are denoted by “-”) 16,271,676,372.61 18,604,132,605.79 Less: Income tax expenses 3,384,307,615.50 3,101,749,179.22 V . Net profit (net losses are denoted by “-”) 12,887,368,757.11 15,502,383,426.57 (I) Classified by continuity of operations 1. Net profit from continuing operations (net losses are denoted by “-”) 12,887,368,757.11 15,502,383,426.57 2. Net profit from discontinued operations (net losses are denoted by “-”) (II) Classified by ownership 1. Net profit attributable to shareholders of the parent company (net losses are denoted by “-”) 8,575,941,319.43 9,988,596,663.77 2. Non-controlling interests (net losses are denoted by “-”) 4,311,427,437.68 5,513,786,762.80 VI. Other comprehensive income, net of tax -92,044,670.42 -107,393,684.70 Other comprehensive income attributable to shareholders of the parent company, net of tax -55,442,873.97 -85,630,634.89 (I) Other comprehensive income that will not be reclassified to profit or loss 54,141,265.49 -20,579,610.46 1. Change arising from remeasurement of defined benefit plan -2,129,250.00 -2,037,625.00 2. Other comprehensive income that cannot be transferred to profit or loss under the equity method 401,035.48 642,174.55 3. Change in fair value of investment in other equity instruments 55,869,480.01 -19,184,160.01 4. Change in fair value of credit risk of the Company 5. Others (II) Other comprehensive income that may be reclassified to profit or loss -109,584,139.46 -65,051,024.43
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 13 1. Other comprehensive income that can be transferred to profit or loss under the equity method 2. Change in fair value of other debt investments 3. Other comprehensive income due to reclassification of financial assets 4. Provision for credit impairment on other debt investments 5. Cash flow hedge reserve 6. Translation differences arising from translation of foreign currency financial statements -109,584,139.46 -65,051,024.43 7. Others Other comprehensive income attributable to non-controlling interests, net of tax -36,601,796.45 -21,763,049.81 VII. Total comprehensive income 12,795,324,086.69 15,394,989,741.87 (I) Total comprehensive income attributable to shareholders of the parent company 8,520,498,445.46 9,902,966,028.88 (II) Total comprehensive income attributable to non-controlling interests 4,274,825,641.23 5,492,023,712.99 VIII. Earnings per share: (I) Basic earnings per share 0.1698 0.1978 (II) Diluted earnings per share 0.1689 0.1978 If enterprises under common control are merged in the current period, the net profit of merged party before merging is: RMB0.00, and the net profit of the merged party of the previous period is: RMB0.00. Legal representative: Yang Changli Person-in-charge of accounting: Yin Engang Head of accounting department: Wang Benfu 3. Consolidated cash flow statement from the beginning of the year to the end of This Reporting Period Unit: RMB Item Amount for This Reporting Period Amount for the previous corresponding period I. Cash flows from operating activities: Cash received from sales of goods and rendering of services 67,892,408,834.00 70,346,197,731.61 Net increase in customer deposits and placements from other banks Net increase in due to central banks Net increase in borrowings from other financial institutions Cash from premiums on original insurance contracts Cash from reinsurance business, net amount Net increase in deposits and investments of the insured Cash received from interests, fees and commissions Net increase in placements from banks and other financial institutions Net increase in financial assets purchased under agreements to resell
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 14 Net cash received from customer brokerage Tax rebate received 1,084,988,948.92 1,093,147,628.82 Other cash received relating to operating activities 2,437,886,236.14 1,979,330,731.95 Sub-total of cash inflow from operating activities 71,415,284,019.06 73,418,676,092.38 Cash payment for goods purchased and services received 32,974,893,054.25 30,564,255,589.33 Net increase in loans receivables Net increase in deposits with central bank and other banks Cash paid for claim settlements on original insurance contracts Net increase in placements to banks and other financial institutions Cash paid for interest, fees and commissions Cash paid for policy dividends Cash payments to and on behalf of employees 6,990,725,925.51 7,197,616,634.02 Payments of various types of taxes 7,362,909,109.15 7,049,986,400.33 Other cash payments relating to operating activities 3,294,578,654.51 2,786,418,471.64 Sub-total of cash outflow from operating activities 50,623,106,743.42 47,598,277,095.32 Net cash flows from operating activities 20,792,177,275.64 25,820,398,997.06 II. Cash flows from investing activities: Cash received from disposal of investments Cash received from investment gains 1,299,618,302.01 750,597,237.35 Net cash received from disposal of fixed assets, intangible assets and other long-term assets 415,950,761.72 65,679,832.32 Net cash received from disposal of subsidiaries and other business entities 2,252,840.76 0.00 Other cash received relating to investing activities 3,675,275,614.09 3,092,504,337.10 Sub-total of cash inflow from investing activities 5,393,097,518.58 3,908,781,406.77 Cash paid for construction of fixed assets, intangible assets and other long-term assets 16,669,512,527.96 9,619,896,807.41 Cash paid for investment 195,000,000.00 279,446,600.00 Net increase in pledged loans Net cash paid for acquisition of subsidiaries and other business entities Other cash paid relating to investing activities 2,782,377,243.69 3,227,904,195.29 Sub-total of cash outflow from investing activities 19,646,889,771.65 13,127,247,602.70 Net cash flow from investing activities -14,253,792,253.07 -9,218,466,195.93 III. Cash flows from financing activities: Cash receipts from capital contributions 185,500,000.00 97,600,000.00
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CGN Power Co., Ltd.* 2025 Third Quarterly Report 15 Including: Cash receipts from capital contributions by minority shareholders of subsidiaries 185,500,000.00 97,600,000.00 Cash received from borrowings 81,576,915,752.93 72,158,741,786.82 Other cash received relating to financing activities 1,000,000.00 1,005,669.72 Sub-total of cash inflow from financing activities 81,763,415,752.93 72,257,347,456.54 Cash repayments of borrowings 59,745,228,055.76 70,519,375,853.41 Cash payments for distribution of dividends or profit or settlement of interest expenses 14,470,769,796.99 13,254,744,986.77 Including: Payments for distribution of dividends or profits to minority shareholders of subsidiaries 5,674,419,468.05 3,899,706,371.67 Cash paid for other financing activities 1,476,734,487.93 243,294,163.88 Sub-total of cash outflow from financing activities 75,692,732,340.68 84,017,415,004.06 Net cash flows from financing activities 6,070,683,412.25 -11,760,067,547.52 IV . Effects of foreign exchange rates changes on cash and cash equivalents 19,231,039.94 14,594,082.38 V . Net increase in cash and cash equivalents 12,628,299,474.76 4,856,459,335.99 Add: Opening balance of cash and cash equivalents 9,000,690,049.53 9,133,537,735.32 VI. Closing balance of cash and cash equivalents 21,628,989,524.29 13,989,997,071.31 (II) Adjustments to relevant items of the financial statements at the beginning of the year due to initial application of new accounting standards since 2025 □ Applicable Not applicable (III) AUDIT REPORT Whether the Third Quarterly Financial Report has been audited □ Yes No The Third Quarterly Financial Report of the Company is unaudited. Board of Directors of CGN Power Co., Ltd.* October 28, 2025 * For identification purpose only