Three Gorges Group Plans to Increase Holdings in China Yangtze Power by 4-8 Billion Yuan

On the evening of August 22, China Yangtze Power Co.,Ltd. announced that its controlling shareholder, China Three Gorges Corporation, plans to increase its shareholding in the company through secondary market purchases within the next 12 months. The planned investment will range from 4 billion yuan to 8 billion yuan, utilizing methods such as centralized bidding and block trading.

According to the announcement, this shareholding increase is primarily based on confidence in China Yangtze Power's future development prospects. The increase will not set a specific price range and will be conducted opportunistically based on capital market conditions. The funding will come from Three Gorges Corporation's own funds and self-raised capital.

Prior to this planned increase, Three Gorges Corporation and its parties acting in concert collectively held 12.865 billion shares of China Yangtze Power, representing 52.58% of the company's total share capital. Among this, Three Gorges Corporation directly held 10.474 billion shares, accounting for 42.81% of the total share capital.

Public information shows that China Yangtze Power was established with Three Gorges Corporation as the main promoter, primarily engaged in hydroelectric power generation, investment and financing, and pumped storage businesses. According to previously released performance reports, benefiting from increased power generation at six cascade power stations, China Yangtze Power achieved year-over-year growth in both revenue and profit in the first half of the year, with net profit attributable to shareholders reaching 12.984 billion yuan, an increase of 14.22% year-over-year.

To further implement shareholder return commitments and establish a long-term win-win mechanism, China Yangtze Power also released a five-year shareholder dividend return plan, proposing cash dividends of no less than 70% of the annual net profit attributable to shareholders in consolidated statements for the years 2026 to 2030. In principle, dividends will be distributed once annually, with interim profit distributions also considered when conditions permit.