Third Quarter 2023 Operating Results

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 (TWh)			Net Electricity Generated (TWh)			Average On-grid Tariff (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 Power	17.094	15.885	7.61%	16.054	14.867	7.99%	0.474	0.501	-5.39%
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 (TWh)			Net Electricity Generated (TWh)			Average On-grid Tariff  (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

 

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