SDIC Power Holdings Co., LTD Operating Results from January to August 2023 (7138N)

TIDMSDIC

RNS Number : 7138N

SDIC Power Holdings Co., LTD

26 September 2023

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

Operating Results from January to August 2023

This announcement contains the English translation of the Chinese version of "SDIC Power Holdings Co., Ltd. Operating Results from January to August 2023" 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 103.805 TWh of gross electricity generated and 100.892 TWh of net electricity generated from January to August 2023, representing a decrease of 0.98% and 1.31% respectively compared with the same period last year.

From January to August 2023, the average on-grid tariff of the company's domestic holding enterprises is 0.383 RMB / kWh, representing an increase of 9.74% compared with the same period last year.

The operating results of the company's domestic holding enterprises from January to August 2023 is as followed:

 
 Items              Gross Electricity              Net Electricity               Average On-grid 
                        Generated                     Generated                       Tariff 
                          (TWh)                         (TWh)                      (RMB / kWh) 
               Current    Same     Change    Current    Same     Change    Current    Same     Change 
                period    period    (YOY%)    period    period    (YOY%)    period    period    (YOY%) 
                           last                          last                          last 
                           year                          year                          year 
              --------  --------  --------  --------  --------  --------  --------  --------  -------- 
 Hydropower     57.883    67.732   -14.54%    57.532    67.348   -14.57%     0.306     0.271    12.92% 
              --------  --------  --------  --------  --------  --------  --------  --------  -------- 
 Thermal 
  Power         39.818    32.465    22.65%    37.383    30.343    23.20%     0.473     0.482    -1.87% 
              --------  --------  --------  --------  --------  --------  --------  --------  -------- 
 Wind Power      4.428     3.356    31.94%     4.323     3.277    31.92%     0.486     0.509    -4.52% 
              --------  --------  --------  --------  --------  --------  --------  --------  -------- 
 Solar 
  Power          1.675     1.276    31.26%     1.654      1.26    31.21%      0.74     0.876   -15.53% 
              --------  --------  --------  --------  --------  --------  --------  --------  -------- 
 Total         103.805   104.829    -0.98%   100.892   102.228    -1.31%     0.383     0.349     9.74% 
              --------  --------  --------  --------  --------  --------  --------  --------  -------- 
 

Explanation of year-on-year changes in gross electricity generated of domestic power plants from January to August 2023:

1. Main Reasons for the Year-on-Year Decrease in Hydropower Generation

The decrease in hydropower generation is primarily due to reduced water inflow in the catchment areas of various hydropower stations.

2. Main Reasons for the Year-on-Year Increase in Thermal Power Generation

The increase in thermal power generation is attributed to the growth in electricity demand in the respective regions where thermal power plants are located, as well as the impact of reduced rainfall, leading to an increase in power generation.

3. Main Reasons for the Year-on-Year Increase in Wind Power Generation

The increase in wind power generation can be attributed to two primary factors: first, the continuous commissioning and acquisition of multiple wind power projects, and second, favorable wind resources in certain regions compared to the same period last year.

4. Main Reasons for the Year-on-Year Increase in Solar Power Generation

The increase in solar power generation can be attributed to two primary factors: first, the continuous commissioning of multiple projects, and second, superior solar resources in certain regions compared to the same period last year.

Explanation of year-on-year changes in average on-grid tariff of domestic power plants from January to August 2023:

Influenced by settlement prices and settlement periods, the on-grid electricity prices of various power plants have experienced some fluctuations. Among these:

Thermal power electricity prices are entirely determined by the market and have remained relatively stable compared to the same period.

The decrease in wind and solar electricity prices compared to the same period is primarily due to the company's newly commissioned units participating in grid parity projects.

The electricity prices for Yalong River hydropower have increased compared to the same period, mainly because the prices of some of the electricity supplied to Jiangsu by the Jin Guan power generation unit increased last year.

Additionally, 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 August 2023:

The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed a total power generation of 74 million kWh from January to August in 2023; The 9,800 kW waste-to-energy power project in Bangkok has completed a total power generation of 44 million kWh from January to August in 2023.

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

September 26, 2023

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September 26, 2023 07:39 ET (11:39 GMT)