REG - SDIC Power Holdings - Fourth Quarter 2023 Operating Results

SDIC Power Holdings CoAnnouncement

12/01/2024 09:15

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RNS Number : 5410Z  SDIC Power Holdings Co., LTD  12 January 2024

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

Fourth Quarter 2023 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. Fourth 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 40.773 TWh of gross electricity generated and 39.738 TWh of net electricity
generated in Q4 2023, representing increase of 6.92% and 6.99% respectively
compared with the same period last year. From January to December 2023, the
company's domestic holding enterprises have completed a total of 161.775 TWh
of gross electricity generated and 157.456 TWh of net electricity generated,
representing an increase of 3.37% and 3.24% respectively compared with the
same period last year.

 

In Q4 2023, the average on-grid tariff of the company's domestic holding
enterprises is 0.371 RMB / kWh, representing an increase of 4.21% compared
with the same period last year. From January to December 2023, the average
on-grid tariff of the company's domestic holding enterprises is 0.374 RMB /
kWh, representing an increase of 6.55% compared with the same period last
year.

 

The operating results of the company's domestic holding enterprises in 2023 Q4
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   24.652          23.654                 4.22%          24.505          23.515                 4.21%          0.303           0.28                   8.21%
 Thermal      13.566          12.905                 5.12%          12.73           12.089                 5.30%          0.471           0.478                  -1.46%

 Power
 Wind Power   1.556           1.17                   32.92%         1.517           1.141                  32.93%         0.499           0.489                  2.04%
 Solar Power  0.999           0.405                  146.78%        0.987           0.399                  147.39%        0.569           0.76                   -25.13%
 Total        40.773          38.135                 6.92%          39.738          37.144                 6.99%          0.371           0.356                  4.21%

 

 

 

The operating results of the company's domestic holding enterprises from
January to December 2023 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     94.206          99.193                 -5.03%         93.643          98.621                 -5.05%         0.3             0.272                  10.29%
 Thermal Power  58.122          50.591                 14.89%         54.559          47.323                 15.29%         0.472           0.481                  -1.87%
 Wind Power     6.494           4.874                  33.25%         6.338           4.757                  33.24%         0.486           0.508                  -4.33%
 Solar Power    2.953           1.841                  60.36%         2.916           1.818                  60.42%         0.665           0.845                  -21.30%
 Total          161.775         156.5                  3.37%          157.456         152.518                3.24%          0.374           0.351                  6.55%

 

Explanation of year-on-year changes in gross electricity generated of domestic
power plants from January to December in 2023:

 

1.The main reason for the overall year-on-year decrease in hydropower
generation:

The water inflow in various hydropower basins is below normal.

 

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

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

 

Explanation of year-on-year changes in average on-grid tariff of domestic
power plants from January to December in 2023:

 

Affected by settlement prices and settlement cycles, the on-grid prices of
various power plants have fluctuated. Among them:

The price of thermal power is entirely market-driven, with prices slightly
lower compared to the same period previously. The decrease in wind and solar
power prices is mainly due to the increasing marketization of the power
sector, and the newly commissioned units in the company being part of grid
parity projects. The increase in the price of Yalong River hydropower compared
to the same period last year is mainly due to the price increase for the
Jinguan to Jiangsu transmission.

 

In addition, 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 from January to December in 2023:

 

The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed
a total power generation of 119 million kWh from January to December in 2023;
The 9,800 kW waste-to-energy power project in Bangkok has completed a total
power generation of 65 million kWh from January to December in 2023.

 

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

 

January 12, 2024

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