Recently, the State-owned Assets Supervision and Administration Commission (“SASAC”) of the State Council released the 2025 performance evaluation results for central state-owned enterprises under the “Double-Hundred Action”. China Yangtze Power Co., Ltd. (“CYPC”) has earned the top-tier “Benchmark” rating for five consecutive years.

Launched by the State Council leading group for SOE reform, the “Double-Hundred Action” is a special reform initiative for state-owned enterprises (“SOEs”). It advances comprehensive, in-depth reforms to foster a cohort of trailblazing SOEs characterized by strong and robust Party leadership, sound and sophisticated corporate governance frameworks, agile and efficient operational mechanisms, as well as markedly strengthened innovation capacity and market competitiveness. These benchmark enterprises are expected to serve as role models and drive broader reform progress. Since 2021, SASAC has rolled out annual comprehensive assessments to systematically gauge reform outcomes of all enterprises included in the “Double-Hundred Action”.

Since the launch of the 14th Five-Year Plan period, CYPC has resolutely carried out the major decisions and arrangements of the CPC Central Committee and the State Council on deepening SOE reform. Fully leveraging the two pathways of boosting core competitiveness and strengthening core functions, the Company has given top priority to reforms serving its functional and strategic missions, while continuously deepening institutional and mechanism reforms. These efforts have delivered tangible reform outcomes: stronger and more robust Party leadership, more sound and sophisticated governance frameworks, more agile and efficient operational mechanisms, as well as markedly strengthened innovation capacity and market competitiveness.

Moving forward, guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, CYPC will fully implement the arrangements and requirements for the new round of deepened SOE reform. Anchored in its development vision of building a world-class listed clean energy enterprise centered on hydropower, the Company will further strengthen its sense of mission and accountability. Standing at a higher strategic level and ramping up reform efforts, it will advance corporate reform in greater depth, contributing more to fulfilling national strategies and advancing the Chinese path to modernization.