REG - SDIC Power Holdings - Fourth Quarter 2022 Operating Results

SDIC Power Holdings CoAnnouncement

11/01/2023 09:30

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RNS Number : 3839M  SDIC Power Holdings Co., LTD  11 January 2023

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

 Fourth Quarter 2022 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. Fourth 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 38.135 TWh of gross electricity generated and 37.144 TWh of net electricity
generated in Q4 2022, representing a decrease of 1.82% and 1.75% respectively
compared with the same period last year. From January to December 2022, the
company's domestic holding enterprises have completed a total of 156.5 TWh of
gross electricity generated and 152.518 TWh of net electricity generated,
representing an increase of 1.84% and 2.05% respectively compared with the
same period last year.

 

In Q4 2022, the average on-grid tariff of the company's domestic holding
enterprises is 0.356 RMB / kWh, representing an increase of 10.99% compared
with the same period last year. From January to December 2022, the average
on-grid tariff of the company's domestic holding enterprises is 0.351 RMB/kWh,
representing an increase of 10.13% compared with the same period last year.

 

The operating results of the company's domestic holding enterprises in 2022 Q4
are as follows:

 

 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   23.654          23.635                 0.08%          23.515          23.501                 0.06%          0.280           0.241                  16.24%
 Thermal      12.905          13.762                 -6.23%         12.089          12.892                 -6.22%         0.478           0.437                  9.35%

 Power
 Wind Power   1.170           1.062                  10.16%         1.141           1.038                  9.94%          0.489           0.493                  -0.94%
 Solar Power  0.405           0.380                  6.63%          0.399           0.375                  6.32%          0.760           0.911                  -16.54%
 Total        38.135          38.840                 -1.82%         37.144          37.806                 -1.75%         0.356           0.321                  10.99%

 

The operating results of the company's domestic holding enterprises from
January to December 2022 are as follows :

 

 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     99.193          88.257                 12.39%         98.621          87.763                 12.37%         0.272           0.255                  6.75%
 Thermal Power  50.591          59.011                 -14.27%        47.323          55.42                  -14.61%        0.481           0.389                  23.75%
 Wind Power     4.874           4.786                  1.85%          4.757           4.671                  1.85%          0.508           0.484                  5.02%
 Solar Power    1.841           1.615                  14.00%         1.818           1.597                  13.80%         0.845           0.918                  -7.92%
 Total          156.5           153.669                1.84%          152.518         149.451                2.05%          0.351           0.319                  10.13%

 

Explanation of year-on-year changes in gross electricity generated of domestic
power plants in 2022 Q4:

 

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

Firstly, although the inflow from the Yalong River basin is significantly
shrinking, the hydropower generation of the Yalong River has increased
year-on-year due to the need of supply protection and the optimization of
cascade power stations in the basin. Secondly, the hydropower generation
increased due to the operation of Yangfanggou Hydropower Station and
Lianghekou Hydropower Station. Thirdly, Dachaoshan Hydropower Station is
affected by the storage capacity decline of upstream reservoir, and thus the
power generation has increased.

 

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 in some of the thermal power
areas.

 

3. The main reason for the overall year-on-year growth of wind power
generation is the successive commencing commercial operation of wind power
stations.

 

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

 

Explanation of year-on-year changes in average on-grid tariff of domestic
power plants in 2022 Q4:

 

The cost of thermal price has risen being 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 Q4 2022:

 

The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed
a total power generation of 144 million kWh from January to December in 2022;
The 9,800 kW waste-to-energy power project in Bangkok has completed a total
power generation of 75 million kWh from January to December in 2022.

 

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

 

January 11, 2023

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