REG - SDIC Power Holdings - First Quarter 2024 Operating Results

SDIC Power Holdings CoAnnouncement

15/04/2024 13:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240415:nRSO6096Ka&default-theme=true

RNS Number : 6096K  SDIC Power Holdings Co., LTD  15 April 2024

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

 First Quarter 2024 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. First Quarter 2024 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 39.542 TWh of gross electricity generated and 38.447 TWh of net electricity
generated in Q1 2024, representing an increase of 3.27% and 3.01% respectively
compared with the same period last year.

 

In Q1 2024, the average on-grid tariff of the company's domestic holding
enterprises is 0.387 RMB / kWh, representing an increase of 3.75% compared
with the same period last year.

 

The operating results of the company's domestic holding enterprises in 2024 Q1
is as followed:

 

 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   21.434          23.376                 -8.31%         21.304          23.245                 -8.35%         0.318           0.305                  4.26%
 Thermal      15.161          12.881                 17.70%         14.254          12.089                 17.91%         0.463           0.472                  -1.91%

 Power
 Wind Power   1.782           1.537                  15.95%         1.742           1.499                  16.17%         0.492           0.487                  1.03%
 Solar Power  1.164           0.495                  135.15%        1.147           0.489                  134.71%        0.551           0.825                  -33.21%
 Total        39.542          38.289                 3.27%          38.447          37.322                 3.01%          0.387           0.373                  3.75%

 

Explanation of year-on-year changes in gross electricity generated of domestic
power plants in 2024 Q1:

 

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

The inflow of the Yalong River and Dachaoshan hydropower station basin is
relatively dry.

 

 

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 commissioning of new thermal power units.

 

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

Firstly, the company put into operation several wind power projects. Secondly,
wind resources in some areas were better than the same period last year.

 

4. The main reason for the overall year-on-year increase of solar power
generation is the successive commissioning of multiple projects.

 

Explanation of year-on-year changes in average on-grid tariff of domestic
power plants in 2024 Q1:

 

Due to the impacts of settlement prices and billing cycles, the grid
electricity prices of various power plants have fluctuated. Among them:

 

The electricity price for thermal power follows a "quantity price + capacity
price" two-part tariff system, and the price has decreased compared to the
same period last year.

The decrease in solar power electricity prices compared to the same period is
mainly because the newly commissioned units by the company are projects with
grid parity.

The main reason for the increase in the electricity price of Yalong River
hydropower is due to changes in the electricity mix.

Moreover, 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 2024:

 

The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed
a total power generation of 39 million kWh from January to March in 2024; The
9,800 kW waste-to-energy power project in Bangkok has completed a total power
generation of 20 million kWh from January to March in 2024.

 

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

 

April 15, 2024

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDDELBFZZLEBBZ