REG - SDIC Power Holdings - Operating Results from January to August 2023

SDIC Power Holdings CoAnnouncement

26/09/2023 12:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230926:nRSZ7138Na&default-theme=true

RNS Number : 7138N  SDIC Power Holdings Co., LTD  26 September 2023

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

 Operating Results from January to August 2023

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. Operating Results from January to August 2023"
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 103.805 TWh of gross electricity generated and 100.892 TWh of net
electricity generated from January to August 2023, representing a decrease of
0.98% and 1.31% respectively compared with the same period last year.

 

From January to August 2023, the average on-grid tariff of the company's
domestic holding enterprises is 0.383 RMB / kWh, representing an increase of
9.74% compared with the same period last year.

 

The operating results of the company's domestic holding enterprises from
January to August 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   57.883          67.732                 -14.54%        57.532          67.348                 -14.57%        0.306           0.271                  12.92%
 Thermal      39.818          32.465                 22.65%         37.383          30.343                 23.20%         0.473           0.482                  -1.87%

 Power
 Wind Power   4.428           3.356                  31.94%         4.323           3.277                  31.92%         0.486           0.509                  -4.52%
 Solar Power  1.675           1.276                  31.26%         1.654           1.26                   31.21%         0.74            0.876                  -15.53%
 Total        103.805         104.829                -0.98%         100.892         102.228                -1.31%         0.383           0.349                  9.74%

 

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

 

1. Main Reasons for the Year-on-Year Decrease in Hydropower Generation

   The decrease in hydropower generation is primarily due to reduced water
inflow in the catchment areas of various hydropower stations.

 

2. Main Reasons for the Year-on-Year Increase in Thermal Power Generation

   The increase in thermal power generation is attributed to the growth in
electricity demand in the respective regions where thermal power plants are
located, as well as the impact of reduced rainfall, leading to an increase in
power generation.

 

3. Main Reasons for the Year-on-Year Increase in Wind Power Generation

   The increase in wind power generation can be attributed to two primary
factors: first, the continuous commissioning and acquisition of multiple wind
power projects, and second, favorable wind resources in certain regions
compared to the same period last year.

 

4. Main Reasons for the Year-on-Year Increase in Solar Power Generation

   The increase in solar power generation can be attributed to two primary
factors: first, the continuous commissioning of multiple projects, and second,
superior solar resources in certain regions compared to the same period last
year.

 

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

 

Influenced by settlement prices and settlement periods, the on-grid
electricity prices of various power plants have experienced some fluctuations.
Among these:

 

Thermal power electricity prices are entirely determined by the market and
have remained relatively stable compared to the same period.

The decrease in wind and solar electricity prices compared to the same period
is primarily due to the company's newly commissioned units participating in
grid parity projects.

The electricity prices for Yalong River hydropower have increased compared to
the same period, mainly because the prices of some of the electricity supplied
to Jiangsu by the Jin Guan power generation unit increased last year.

 

Additionally, 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 August 2023:

 

The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed
a total power generation of 74 million kWh from January to August in 2023; The
9,800 kW waste-to-energy power project in Bangkok has completed a total power
generation of 44 million kWh from January to August in 2023.

 

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

 

September 26, 2023

 

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  UPDFQLFLXKLXBBD