REG - SDIC Power Holdings - Third Quarter 2023 Operating Results

SDIC Power Holdings CoAnnouncement

12/10/2023 10:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231012:nRSL9274Pa&default-theme=true

RNS Number : 9274P  SDIC Power Holdings Co., LTD  12 October 2023

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

Third Quarter 2023 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. Third 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 49.717 TWh of gross electricity generated and 48.454 TWh of net electricity
generated in Q3 2023, representing decrease of 0.96% and 1.05% respectively
compared with the same period last year. From January to September 2023, the
company's domestic holding enterprises have completed a total of 121.002 TWh
of gross electricity generated and 117.717 TWh of net electricity generated,
representing an increase of 2.23% and 2.03% respectively compared with the
same period last year.

 

In Q3 2023, the average on-grid tariff of the company's domestic holding
enterprises is 0.356 RMB / kWh, representing an increase of 5.64% compared
with the same period last year. From January to September 2023, the average
on-grid tariff of the company's domestic holding enterprises is 0.375 RMB /
kWh, representing an increase of 7.14% compared with the same period last
year.

 

The operating results of the company's domestic holding enterprises in 2023 Q3
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   30.189          32.601                 -7.40%         30.015          32.423                 -7.43%         0.281           0.249                  12.85%
 Thermal      17.094          15.885                 7.61%          16.054          14.867                 7.99%          0.474           0.501                  -5.39%

 Power
 Wind Power   1.58            1.217                  29.85%         1.542           1.188                  29.74%         0.457           0.486                  -5.97%
 Solar Power  0.854           0.496                  72.29%         0.843           0.49                   72.21%         0.613           0.848                  -27.71%
 Total        49.717          50.199                 -0.96%         48.454          48.967                 -1.05%         0.356           0.337                  5.64%

 

 

 

The operating results of the company's domestic holding enterprises from
January to September 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     69.554          75.539                 -7.92%         69.138          75.106                 -7.95%         0.299           0.27                   10.74%
 Thermal Power  44.556          37.686                 18.23%         41.83           35.234                 18.72%         0.473           0.484                  -2.27%
 Wind Power     4.939           3.704                  33.35%         4.821           3.616                  33.33%         0.482           0.515                  -6.41%
 Solar Power    1.954           1.437                  36.00%         1.929           1.419                  35.97%         0.714           0.869                  -17.84%
 Total          121.002         118.365                2.23%          117.717         115.374                2.03%          0.375           0.35                   7.14%

 

 

Explanation of year-on-year changes in gross electricity generated of domestic
power plants from January to September 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 September 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 main reason for the slight price decrease in
the third quarter is that the market-based electricity price base in the
Fujian region in the same period of the previous year was relatively high.

 

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 September in 2023:

 

The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed
a total power generation of 84 million kWh from January to September in 2023;
The 9,800 kW waste-to-energy power project in Bangkok has completed a total
power generation of 50 million kWh from January to September in 2023.

 

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

 

October 12, 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  UPDVLLBFXBLZFBV