REG - SDIC Power Holdings - Second Quarter 2023 Operating Results

SDIC Power Holdings CoAnnouncement

10/07/2023 12:00

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RNS Number : 5172F  SDIC Power Holdings Co., LTD  10 July 2023

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

 Second Quarter 2023 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. Second 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 32.996 TWh of gross electricity generated and 31.941 TWh of net electricity
generated in Q2 2023, representing decrease of 8.97% and 9.82% respectively
compared with the same period last year. From January to June 2023, the
company's domestic holding enterprises have completed a total of 71.285 TWh of
gross electricity generated and 69.264 TWh of net electricity generated,
representing an increase of 4.58% and 4.30% respectively compared with the
same period last year.

 

In Q2 2023, the average on-grid tariff of the company's domestic holding
enterprises is 0.404 RMB / kWh, representing an increase of 15.50% compared
with the same period last year. From January to June 2023, the average on-grid
tariff of the company's domestic holding enterprises is 0.388 RMB / kWh,
representing an increase of 7.94% compared with the same period last year.

 

The operating results of the company's domestic holding enterprises in 2023 Q2
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   15.988          24.710                 -35.30%        15.877          24.568                 -35.38%        0.322           0.281                  14.68%
 Thermal      14.581          9.705                  50.25%         13.687          9.058                  51.11%         0.472           0.470                  0.31%

 Power
 Wind Power   1.822           1.325                  37.51%         1.780           1.293                  37.65%         0.499           0.556                  -10.25%
 Solar Power  0.605           0.507                  19.27%         0.597           0.501                  19.21%         0.769           0.935                  -17.76%
 Total        32.996          36.247                 -8.97%         31.941          35.420                 -9.82%         0.404           0.350                  15.50%

 

 

 

The operating results of the company's domestic holding enterprises from
January to June 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     39.364          42.937                 -8.32%         39.122          42.683                 -8.34%         0.031           0.029                  9.42%
 Thermal Power  27.462          21.801                 25.97%         25.776          20.367                 26.56%         0.047           0.047                  0.18%
 Wind Power     3.359           2.487                  35.06%         3.279           2.428                  35.09%         0.049           0.052                  -5.76%
 Solar Power    1.100           0.941                  16.89%         1.086           0.929                  16.88%         0.080           0.088                  -9.73%
 Total          71.285          68.166                 4.58%          69.264          66.407                 4.30%          0.039           0.036                  7.94%

 

 

Explanation of year-on-year changes in gross electricity generated of domestic
power plants from January to June 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 June 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 all formed by market, and the price is basically flat compared with the
same period last year. the prices of wind power and solar power have declined
compared to the same period last year, mainly because the company's newly
commissioned units are parity-grid projects; the increase in the price of
Yalong River hydropower compared to the same period last year is mainly due to
the completion of a price increase for the Jinguan to Jiangsu transmission
last year.

 

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 June in 2023:

 

The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed
a total power generation of 54 million kWh from January to June in 2023; The
9,800 kW waste-to-energy power project in Bangkok has completed a total power
generation of 31 million kWh from January to June in 2023.

 

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

 

July 10, 2023

 

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