Fujian Mindong Electric Power Group Co., Ltd.
2025 Board of Directors Work Report
In 2025, the Board of Directors, guided by the new mission and positioning of state-owned enterprises in the new era, focused on its responsibilities of "setting strategy, making decisions, and preventing risks." It adhered to legal and regulatory procedures, improved the board governance structure, and continued to play a core role in corporate governance, promoting the company's sustained and stable development and achieving good performance. As of December 31, 2025, the company's market capitalization reached 5.486 billion yuan, an increase of 46% from the beginning of the year. Total assets were 3.617 billion yuan, with operating revenue of 598 million yuan, total profit of 89 million yuan, and net profit attributable to the parent company of 59 million yuan.
I. Achievements of the Board of Directors in 2025
(I) Focusing on Strategic Guidance, Major Projects Achieved Results
During the reporting period, the Board of Directors closely followed the company's green energy development strategy, planned high-standard and efficiently promoted major project construction, proactively laid out emerging businesses in the new energy sector, and fostered synergistic development across all areas.
- Solar Power Projects Fully Rolled Out. The project access and management mechanisms were continuously improved. Six rooftop distributed solar power projects were completed and put into operation, adding 9.22 megawatts of installed capacity and achieving full coverage of county-level areas except for Pingnan County, marking a substantial breakthrough in the layout of distributed clean energy.
- Offshore Wind Power Progressed Orderly. The Board of Directors approved the equity investment in establishing Ningde Dian Investment New Energy Co., Ltd. (holding 10%), participating in the development of the deep-water B-1 area offshore wind power project in Ningde. It also jointly promoted the construction of the B area offshore wind power project in Fu'an and the deep-water A area offshore wind power project in Ningde, laying the foundation for the development of deep and far-sea wind power.
- Hydropower Assets Steadily Expanded. The Board of Directors decided to acquire a 10% equity stake in Fujian Shouning Niutoushan Hydropower Co., Ltd., successfully adding 10 megawatts of installed hydropower capacity. This further optimized the company's clean energy asset structure and enhanced operational resilience.
- Emerging Business System Layout. Fujian Mindong New Energy Development Co., Ltd. successfully obtained electricity sales qualifications, laying the foundation for cultivating new profit growth points and achieving synergistic development of "generation and sales."