Third Quarter 2024 Operating Results

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 (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	37.024	30.189	22.64%	36.831	30.015	22.71%	0.278	0.281	-1.07%
Thermal Power	16.138	17.094	-5.59%	15.124	16.054	-5.79%	0.459	0.474	-3.16%
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 (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	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

 

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