REG - SDIC Power Holdings - Fourth Quarter 2024 Operating Results

SDIC Power Holdings CoAnnouncement

15/01/2025 12:00

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RNS Number : 4194T  SDIC Power Holdings Co., LTD  15 January 2025

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

Fourth Quarter 2024 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. Fourth 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 38.576 TWh of gross electricity generated and 37.609 TWh of net electricity
generated in Q4 2024, representing decrease of 5.39% and 5.36% respectively
compared with the same period last year. From January to December 2024, the
company's domestic holding enterprises have completed a total of 171.853 TWh
of gross electricity generated and 167.518 TWh of net electricity generated,
representing an increase of 6.23% and 6.39% respectively compared with the
same period last year.

 

In Q4 2024, the average on-grid tariff of the company's domestic holding
enterprises is 0.360 RMB / kWh, representing a decrease of 2.96% compared with
the same period last year. From January to December 2024, the average on-grid
tariff of the company's domestic holding enterprises is 0.359 RMB / kWh,
representing a decrease of 4.01% compared with the same period last year.

 

The operating results of the company's domestic holding enterprises in 2024 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   23.74           24.652                 -3.70%         23.6            24.505                 -3.69%         0.285           0.303                  -5.94%
 Thermal      12.111          13.566                                11.34           12.73                                 0.474           0.471

 Power                                               -10.72%                                               -10.92%                                               0.64%
 Wind Power   1.523           1.556                  -2.07%         1.487           1.517                  -1.95%         0.472           0.499                  -5.41%
 Solar Power  1.201           0.999                  20.21%         1.182           0.987                  19.80%         0.517           0.569                  -9.14%
 Total        38.576          40.773                 -5.39%         37.609          39.738                 -5.36%         0.36            0.371                  -2.96%

 

 

 

The operating results of the company's domestic holding enterprises from
January to December 2024 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     104.085         94.206                 10.49%         103.49          93.643                 10.52%         0.291           0.3                    -3.00%
 Thermal Power  56.414          58.122                 -2.94%         52.902          54.559                 -3.04%         0.465           0.472                  -1.42%
 Wind Power     6.533           6.494                  0.60%          6.377           6.338                  0.62%          0.458           0.486                  -5.76%
 Solar Power    4.821           2.953                  63.27%         4.75            2.916                  62.90%         0.505           0.665                  -24.06%
 Total          171.85          161.78                 6.23%          167.52          157.46                 6.39%          0.359           0.374                  -4.01%

 

Explanation of year-on-year changes in gross electricity generated of domestic
power plants from January to December in 2024:

 

1. The main reason for the year-on-year increase in hydropower generation is
due to the abundant water inflow in the basins of various hydropower stations.

 

2. The main reasons for the increase in power generation by thermal power
enterprises in Fujian are the increase in social electricity consumption and
external power transmission in Fujian Province. The main reasons for the
decline in power generation by thermal power enterprises in Tianjin are the
influence of the commissioning of regional renewable energy and thermal power
units.The main reason for the decline in power generation by thermal power
enterprises in Guangxi and Guizhou is the abundant regional water inflow,
which has squeezed the space for thermal power generation. The two
660,000-kilowatt units of SDIC Qinzhou Second Power Co., Ltd. were put into
operation in December 2023 and April 2024, respectively, increasing power
generation.

 

3. The power generation of wind power remains the same level as that of the
same period last year.

 

4. The main reason for the overall year-on-year increase in 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 from January to December in 2024:

 

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.

Main reasons for the year-on-year decrease in electricity prices for
Xiaosanxia is due to the price fluctuations in the spot market.

The electricity price for solar power has decreased compared to the same
period, primarily because the company's newly commissioned units are part of
parity grid projects, and the peak-valley time-of-use pricing has also had an
impact.

 

Moreover, Yangfanggou is coordinating with relevant parties to promote the
settlement of electricity charges, and Lianghekou is temporarily settled
according to the transition period electricity price.

 

Operating results of overseas power plants from January to December in 2024:

 

The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed
a total power generation of 132 million kWh from January to December in 2024;
The 9,800 kW waste-to-energy power project in Bangkok has completed a total
power generation of 71 million kWh from January to December in 2024.

 

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

 

January 15 2025

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