REG - SDIC Power Holdings - First Quarter 2025 Operating Results

SDIC Power Holdings CoAnnouncement

22/04/2025 12:00

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RNS Number : 5541F  SDIC Power Holdings Co., LTD  22 April 2025

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

 First Quarter 2025 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. First Quarter 2025 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 38.992 TWh of gross electricity generated and 38.103 TWh of net electricity
generated in Q1 2025, representing a decrease of 1.55% and 1/04% respectively
compared with the same period last year.

 

In Q1 2025, the average on-grid tariff of the company's domestic holding
enterprises is 0.355RMB / kWh, representing a decrease of 8.25% compared with
the same period last year.

 

The operating results of the company's holding enterprises in 2025 Q1 is as
followed:

 

 Items        Gross Electricity Generated                           Net Electricity Generated

              (TWh)                                                 (TWh)

              Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)
 Hydropower   25.271          21.434                 17.90%         25.13           21.304                 17.96%
 Thermal      10.287          15.184                 -32.25%        9.606           14.274                 -32.70%

 Power
 Wind Power   1.914           1.821                  5.13%          1.87            1.779                  5.11%
 Solar Power  1.52            1.164                  30.56%         1.497           1.147                  30.48%
 Total        38.992          39.604                 -1.55%         38.103          38.505                 -1.04%

 

Explanation of year-on-year changes in gross electricity generated of holding
enterprises in 2025 Q1:

 

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

The Lianghekou Hydropower Station achieved full reservoir storage last year,
delivering significant regulatory benefits to the basin. Additionally, the
Dachaoshan and Xiaosanxia hydropower stations experienced higher-than-average
water inflows.

 

2.The main reasons for the overall year-on-year increase of thermal power
generation are due to increased clean energy generation in some regions,
coupled with the impact of outbound electricity transmission to other areas.

 

3.The main reasons for the overall year-on-year increase of wind power
generation is the successive commissioning of multiple projects.

 

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 holding
enterprises in 2025 Q1:

 

The main reasons for the year-on-year decline in the average grid tariff are
as follows:

Firstly due to the changes in the electricity generation mix: Specifically,
the decrease in thermal power generation connected to the grid led to a
reduction in the proportion of higher-priced electricity segments.

Secondly due to the decline in medium-to-long-term trading prices for thermal
power in certain regions.

Thirdly due to the gradual increase in the share of subsidy-free new energy
projects.

 

Installed Capacity Status:

 

The company did not commission any new power generation units during the first
quarter. As of the end of Q1, its total operational installed capacity under
ownership stood at 44,634.7 MW, distributed as follows:

Hydropower: 21,304.5 MW

Thermal Power: 13,200.8 MW (including waste-to-energy)

Solar Power: 5,778.9 MW

Wind Power: 3,888.5 MW

Energy Storage: 462.0 MW

 

 

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

 

April 18, 2025

 

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