REG - SDIC Power Holdings - First Quarter 2023 Operating Results

SDIC Power Holdings CoAnnouncement

11/04/2023 07:00

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RNS Number : 7147V  SDIC Power Holdings Co., LTD  10 April 2023

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

 First Quarter 2023 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. First Quarter 2023 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 38.289 TWh of gross electricity generated and 37.322 TWh of net electricity
generated in Q1 2023, representing an increase of 19.96% and 20.45%
respectively compared with the same period last year.

 

In Q1 2023, the average on-grid tariff of the company's domestic holding
enterprises is 0.373 RMB / kWh, representing a decrease of -0.16% compared
with the same period last year.

 

The operating results of the company's domestic holding enterprises in 2023 Q1
are as follows:

 

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

              (TWh)                                                 (TWh)                                                 (RMB / kWh, including tax)

              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   23.376          18.227                 28.25%         23.245          18.115                 28.32%         0.305           0.291                  4.74%
 Thermal      12.881          12.096                 6.49%          12.089          11.309                 6.89%          0.472           0.47                   0.42%

 Power
 Wind Power   1.537           1.162                  32.27%         1.499           1.134                  32.16%         0.487           0.526                  -7.42%
 Solar Power  0.495           0.434                  14.12%         0.489           0.428                  14.14%         0.825           0.92                   -10.29%
 Total        38.289          31.919                 19.96%         37.322          30.987                 20.45%         0.373           0.374                  -0.16%

 

Explanation of year-on-year changes in gross electricity generated of domestic
power plants in 2023 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 the Yalong River increased significantly
due to the cascade dispatch of the Yalong River Basin and the decline in
reservoir capacity at the Lianghekou Hydropower Station.

 

2. The main reasons for the overall year-on-year increase of thermal power
generation are firstly due to the increased social electricity consumption in
some regions and secondly due to the impact of less rainfall.

 

3. The main reasons for the overall year-on-year increase of wind power
generation are as follows:

Firstly, the company put into operation and acquired several wind power
projects, resulting in a year-on-year increase in power generation. Secondly,
wind resources in some areas were better than the same period last year.

 

4. The main reasons for the overall year-on-year increase of solar power
generation are as follows:

Firstly, the company put into operation several projects, resulting in a
year-on-year increase in power generation. Secondly, solar resources in some
areas were better than the same period.

 

Explanation of year-on-year changes in average on-grid tariff of domestic
power plants in 2023 Q1:

 

The cost of thermal price has risen due to the high coal price. According to
relevant national policies, the price of thermal power is all formed by
market, and the price is basically flat compared with the same period last
year. Meanwhile, the on-grid tariff of power plants fluctuates due to the
impact of settlement prices and settlement cycles.

 

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 2023:

 

The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed
a total power generation of 38 million kWh from January to March in 2023; The
9,800 kW waste-to-energy power project in Bangkok has completed a total power
generation of 17 million kWh from January to March in 2023.

 

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

 

April 10, 2023

 

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