REG - SDIC Power Holdings - Third Quarter 2025 Operating Results

SDIC Power Holdings CoAnnouncement

17/10/2025 12:00

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RNS Number : 8504D  SDIC Power Holdings Co., LTD  17 October 2025

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

 Third Quarter 2025 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. Third 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.

 

I. Electricity Volume and Tariff

According to the preliminary statistics of SDIC Power Holdings Co., Ltd.
(hereinafter referred to as the "Company"), from July to September 2025, the
holding enterprises of the Company cumulatively achieved power generation of
47.891 billion kWh and on-grid energy of 46.808 billion kWh, a year-on-year
decrease of 14.42% and 14.42% respectively. From January to September 2025,
the holding enterprises of the Company cumulatively achieved power generation
of 124.950 billion kWh and on-grid energy of 121.980 billion kWh, a
year-on-year decrease of 6.36% and 6.21% respectively.

From July to September 2025, the average on-grid tariff of the holding
enterprises of the Company was RMB 0.334/kWh, a year-on-year decrease of 0.9%
From January to September 2025, the average on-grid tariff of the holding
enterprises of the Company was RMB 0.346/kWh, a year-on-year decrease of 3.9%.

Main Operating Data of the Company's Holding Enterprises from July to
September 2025

 Item                          Power generation                                On-grid energy

(100 million kWh)
(100 million kWh)

                               Current period  Same period last year  Change   Current period  Same period last year  Change

                                                                      (YOY%)                                          (YOY%)

 Hydropower                    315.43          370.24                 -14.80%  313.73          368.31                 -14.82%
 Thermal power                 131.65          161.54                 -18.50%  123.20          151.38                 -18.61%
 Wind power                     14.75           14.96                 -1.40%    14.37           14.58                 -1.44%
 Solar power                    17.08           12.84                 32.98%    16.78           12.66                 32.57%
 Total of holding enterprises  478.91          559.58                 -14.42%  468.08          546.92                 -14.42%

 

Main Operating Data of the Company's Holding Enterprises from January to
September 2025

 Item                          Power generation                                On-grid energy

(100 million kWh)
(100 million kWh)

                               Current period  Same period last year  Change   Current period  Same period last year  Change

                                                                      (YOY%)                                          (YOY%)

 Hydropower                    793.25          803.45                 -1.27%   788.81          798.90                 -1.26%
 Thermal power                 354.23          443.65                 -20.15%  331.10          416.14                 -20.44%
 Wind power                    51.89           51.05                  1.66%    50.62           49.83                  1.57%
 Solar power                   50.13           36.20                  38.48%   49.28           35.68                  38.13%
 Total of holding enterprises  1,249.50        1,334.34               -6.36%   1,219.80        1,300.55               -6.21%

Explanation of the year-on-year change in power generation of holding
enterprises from January to September 2025:

1. Main reasons for the year-on-year decrease in hydropower generation

The power generation of the Yalong Hydro and Dachaoshan remained basically the
same year-on-year, while the year-on-year decrease in power generation of the
Xiaosanxia was due to reduced inflow from the upper reaches of the Yellow
River.

2. Main reasons for the year-on-year decrease in thermal power generation

The power generation from clean energy in some regions where thermal power
plants are located has increased, and there is an impact from external power
transmission.

3. Main reasons for the year-on-year change in wind power generation

The installed capacity of wind power has increased year-on-year. However, due
to insufficient wind resources and power curtailment, its power generation has
remained basically flat year-on-year.

4. Main reasons for the year-on-year increase in solar power generation

Multiple solar power projects have been successively put into operation.

Explanation of the year-on-year change in average on-grid tariff of holding
enterprises from January to September 2025:

The main reasons for the year-on-year decrease in the average on-grid tariff
are as follows: First, the change in the electric energy mix, that is, the
on-grid energy of thermal power has decreased, and the proportion of
electricity corresponding to the higher tariff has decreased; second, the
medium and long-term transaction prices of thermal power in some regions have
decreased; third, the proportion of new energy projects without subsidies has
gradually increased.

II. Installed Capacity Status

In the third quarter of the year, the holding installed capacity put into
operation by the Company increased by 60,000 kW. By the end of the third
quarter, the holding installed capacity put into operation by the Company had
reached 44.7485 million kW, including 21.3045 million kW of hydropower,
13.0748 million kW of thermal power (including waste-to-energy generation),
3.9883 million kW of wind power, 5.8494 million kW of solar power, and 531,600
kW of energy storage.

 

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

 

July 17, 2025

 

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