REG - SDIC Power Holdings - First Quarter 2022 Operating Results

SDIC Power Holdings CoAnnouncement

19/04/2022 07:00

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RNS Number : 4914I  SDIC Power Holdings Co., LTD  15 April 2022

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

 First Quarter 2022 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. First Quarter 2022 Operating Results" as
published on the website of the Shanghai Stock Exchange, and is provided for
your reference only. In case of discrepancy between the Chinese version and
the English version, the Chinese version shall prevail.

 

According to the preliminary statistics of SDIC Power Holdings Co., Ltd. ("the
company"), the company's domestic holding enterprises have completed a total
of 31.919 TWh of gross electricity generated and 30.987 TWh of net electricity
generated in Q1 2022, representing an increase of 0.71% and 0.70% respectively
compared with the same period last year.

 

In Q1 2022, the average on-grid tariff of the company's domestic holding
enterprises is 0.374 RMB / kWh, representing an increase of 13.51% compared
with the same period last year.

 

The operating results of the company's domestic holding enterprises in 2022 Q1
is as followed:

 

 Items        Gross Electricity Generated                           Net Electricity Generated                             Average On-grid Tariff

              (TWh)                                                 (TWh)                                                 (RMB / kWh)

              Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)
 Hydropower   18.227          16.714                 9.05%          18.115          16.614                 9.03%          0.291           0.271                  7.60%
 Thermal      12.096          13.312                 -9.13%         11.309          12.525                 -9.70%         0.470           0.371                  26.74%

 Power
 Wind Power   1.162           1.287                  -9.72%         1.134           1.257                  -9.74%         0.526           0.517                  1.76%
 Solar Power  0.434           0.381                  13.81%         0.428           0.377                  13.65%         0.920           0.946                  -2.78%
 Total        31.919          31.694                 0.71%          30.987          30.773                 0.70%          0.374           0.329                  13.51%

 

Explanation of year-on-year changes in gross electricity generated of domestic
power plants in 2022 Q1:

 

1.The main reasons for the overall year-on-year increase of hydropower
generation are as follows:

the year-on-year power generation of Yalong River increased firstly due to the
operation of Yangfanggou Hydropower Station and Lianghekou Hydropower Station,
and secondly due to the rapid storage capacity decline of Ertan Reservoir

 

2.The main reasons for the overall year-on-year decrease of thermal power
generation are firstly due to the abundant rainfall in partial areas which
causes the significant increase of hydropower generation, and secondly due to
the reduction of social electricity consumption as well as the increase of
incoming power.

 

3. The main reason for the overall year-on-year decrease of wind power
generation is because partial regional wind farms are affected by wind
resources.

 

4. The main reasons for the overall year-on-year growth of solar power
generation are the successive merger and acquisition as well as operation of
solar power projects by the company.

 

Explanation of year-on-year changes in average on-grid tariff of domestic
power plants in 2022 Q1:

 

The cost of thermal price has risen affected by the high coal price.
According to relevant national policies, the price of thermal power is all
formed by market, and thus the price has increased due to the continuous
tension between supply and demand. Meanwhile, the on-grid tariff of power
plants fluctuates with the affection of the settlement price and settlement
cycle.

 

Among them, Yangfanggou has not yet defined the electricity price mechanism,
and Lianghekou is temporarily settled according to the transition period
electricity price.

 

Operating results of overseas power plants in Q1 2022:

 

In October 2018, the company completed the acquisition of the 50,000 kW
onshore wind power project, Afton Wind Farm Limited, which is in good
operation condition, with a total power generation of 46 million kWh from
January to March in 2022; in July 2019, the company completed the acquisition
of the 9,800 kW waste-to-energy power project in Bangkok, which is in good
operation condition, with a total power generation of 17 million kWh from
January to March in 2022.

 

 

The Board of Directors of SDIC Power Holdings Co., Ltd.

 

April 15, 2022

 

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