REG - SDIC Power Holdings - Second Quarter 2025 Operating Results

SDIC Power Holdings CoAnnouncement

14/07/2025 13:15

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RNS Number : 9707Q  SDIC Power Holdings Co., LTD  14 July 2025

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

 Second Quarter 2025 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. Second Quarter 2025 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 38.067 TWh of gross electricity generated and 37.074 TWh of net electricity
generated in Q2 2025, representing an increase of 0.52% and 0.59% respectively
compared with the same period last year. In H1 2025, the gross power
generation of the company's domestic holding enterprises reached 77.059 TWh,
while total net electricity generated reached 75.178 TWh, representing
year-over-year declines of 0.54% and 0.25%, respectively.

In Q2 2025, the average on-grid tariff across the company's domestic holding
enterprises was recorded at 0.350 RMB/kWh, marking a 4.6% decrease compared to
the same period in 2024. In H1 2025, the average on-grid tariff of the
company's domestic holding enterprises amounted to 0.353 RMB/kWh, a 6.4%
reduction year-over-year.

 

The operating results of the company's domestic holding enterprises in 2025 Q2
are as follows:

 

 

 Item           Electricity Generated                                 Net Electricity Generated

(TWh)
(TWh)

                Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)

 Hydropower     22.511          21.886                 2.85%          22.378          21.755                 2.87%
 Thermal power  11.971          13.026                 -8.10%         11.184          12.203                 -8.35%
 Wind power     1.799           1.787                  0.67%          1.756           1.745                  0.63%
 Solar power    1.786           1.172                  52.39%         1.757           1.155                  52.12%
 Total          38.067          37.871                 0.52%          37.074          36.858                 0.59%

 

The operating results of the company's domestic holding enterprises from
January to June 2025 are as follows:

 

 

 

 Item           Electricity Generated                                 Net Electricity Generated

(TWh)
(TWh)

                Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)

 Hydropower     47.782          43.321                 10.30%         47.508          43.059                 10.33%
 Thermal power  22.258          28.210                 -21.10%        20.790          26.477                 -21.48%
 Wind power     3.714           3.608                  2.94%          3.627           3.525                  2.89%
 Solar power    3.306           2.336                  41.52%         3.254           2.302                  41.36%
 Total          77.059          77.476                 -0.54%         75.178          75.363                 -0.25%

 

Explanation of year-on-year changes in gross electricity generated of holding
enterprises in H1 2025:

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

The Yalong River Lianghekou Hydropower Station achieved full reservoir storage
last year, delivering significant regulatory benefits to the basin.
Additionally, the Dachaoshan and Xiaosanxia hydropower stations recorded
year-on-year declines in water inflow levels.

2. The main reasons for the overall year-on-year decrease of thermal power
generation are due to increased clean energy generation in some regions,
coupled with the impact of outbound electricity transmission to other areas.

3. The main reason for the overall year-on-year increase of wind power
generation is the successive commissioning of multiple projects.

4. The main reason for the overall year-on-year increase of solar power
generation is the successive commissioning of multiple projects.

Explanation of year-on-year changes in average on-grid tariff of holding
enterprises in H1 2025:

The main reasons for the year-on-year decline in the average on-grid tariff
are as follows: Firstly due to the changes in the electricity generation mix:
Specifically, the decrease in thermal power generation connected to the grid
led to a reduction in the proportion of higher-priced electricity segments.
Secondly due to the decline in medium-to-long-term trading prices for thermal
power in certain regions. Thirdly due to the gradual increase in the share of
subsidy-free new energy projects.

The company's installed capacity under holding and operation decreased by
546.2 MW in Q2 2025. This included the handover of Phase I of the Meizhou Wan
Power Plant BOT project (786 MW), while newly added capacity comprised 99.8 MW
of wind power, 70.5 MW of solar power, and 69.6 MW of energy storage. As of
the end of Q2, its total operational installed capacity under ownership stood
at 44,088.5 MW, distributed as follows:

Hydropower: 21,304.5 MW

Thermal Power: 12,414.8 MW (including waste-to-energy)

Wind power: 3,988.3 MW

Solar Power: 5,849.4 MW

Energy storage: 531.6 MW

 

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

 

July 14, 2025

 

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