Three Gorges Water Power announces dividend, board changes, and governance revisions

Chongqing Three Gorges Water Conservancy & Electric Power announced its 2025 guarantee plan, with no new guarantees in November 2025. Total guarantees outstanding as of November 30, 2025, were CNY 1,156.8125 million, representing 28.65% of the company's 2024 net assets. A notable risk identified is a CNY 2.2680 million guarantee provided to Chongqing Kerkok New Material Co., Ltd., a 31.5%-owned associate with a debt-to-asset ratio exceeding 70%.

The company is also proposing a cash dividend of CNY 0.05 per share (tax inclusive) for the first three quarters of 2025, totaling CNY 94.65956565 million, based on 1,893,191,313 shares. This follows net income of CNY 20,527,356.11 and distributable profit of CNY 1,418,182,976.71. Shareholders will vote on the proposed dividend and the re-election of the eleventh board of directors, which includes candidates for independent and non-independent director roles.

Additionally, the company will amend its Articles of Association, Shareholder Meeting Rules, and Board of Directors Meeting Rules. Key revisions include abolishing the Supervisory Board, expanding the Board of Directors from 13 to 14 members to include an employee director, and transferring the Supervisory Board's responsibilities to the Audit Committee. These changes aim to enhance corporate governance and reflect updated legal requirements.