REG - SDIC Power Holdings - Third Quarter 2024 Operating Results

SDIC Power Holdings CoAnnouncement

17/10/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241017:nRSQ5744Ia&default-theme=true

RNS Number : 5744I  SDIC Power Holdings Co., LTD  17 October 2024

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

Third Quarter 2024 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. Third 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 55.913 TWh of gross electricity generated and 54.650 TWh of net electricity
generated in Q3 2023, representing increase of 12.46% and 12.79% respectively
compared with the same period last year. From January to September 2023, the
company's domestic holding enterprises have completed a total of 133.277 TWh
of gross electricity generated and 129.909 TWh of net electricity generated,
representing an increase of 10.14% and 10.36% respectively compared with the
same period last year.

 

In Q3 2024, the average on-grid tariff of the company's domestic holding
enterprises is 0.336 RMB / kWh, representing an increase of 5.62% compared
with the same period last year. From January to September 2024, the average
on-grid tariff of the company's domestic holding enterprises is 0.360RMB /
kWh, representing a decrease of 4.00% compared with the same period last year.

 

The operating results of the company's domestic holding enterprises in 2024 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   37.024          30.189                 22.64%         36.831          30.015                 22.71%         0.278           0.281                  -1.07%
 Thermal      16.138          17.094                 -5.59%         15.124          16.054                 -5.79%         0.459           0.474                  -3.16%

 Power
 Wind Power   1.466           1.58                   -7.19%         1.429           1.541                  -7.28%         0.453           0.457                  -0.88%
 Solar Power  1.284           0.854                  50.39%         1.266           0.843                  50.08%         0.459           0.613                  -25.12%
 Total        55.913          49.717                 12.46%         54.65           48.453                 12.79%         0.336           0.356                  -5.62%

 

 

 

The operating results of the company's domestic holding enterprises from
January to September 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     80.345          69.554                 15.52%         79.89           69.138                 15.55%         0.292           0.299                  -2.19%
 Thermal Power  44.302          44.556                 -0.57%         41.562          41.83                  -0.64%         0.463           0.473                  -2.11%
 Wind Power     5.01            4.939                  1.44%          4.89            4.821                  1.43%          0.469           0.482                  -2.70%
 Solar Power    3.62            1.954                  85.29%         3.568           1.929                  84.94%         0.516           0.714                  -27.73%
 Total          133.277         121.002                10.14%         129.909         117.717                10.36%         0.36            0.375                  -4.00%

 

 

Explanation of year-on-year changes in gross electricity generated of domestic
power plants from January to September 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 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 main reason for the overall year-on-year increase in wind power
generation is the successive commissioning of multiple projects.

 

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 September 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 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 2024:

 

The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed
a total power generation of 93 million kWh from January to September in 2024;
The 9,800 kW waste-to-energy power project in Bangkok has completed a total
power generation of 52 million kWh from January to September in 2024.

 

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

 

October 17, 2024

 

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  UPDEDLBFZBLFFBF