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13 Jan 2021 12:35
SDIC Power Holdings Co., Ltd.
(GDR under the symbol: "SDIC")
Fourth Quarter 2020 Operating Results
This announcement contains the English translation of the Chinese version of "SDIC Power Holdings Co., LTd. Fourth Quarter 2020 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 36.019 TWh of gross electricity generated and 35.030 TWh of net electricity generated in Q4 2020, representing a decrease of 11.00% and 10.53% respectively compared with the same period last year. If the impact of disposed subsidiaries is excluded, they are increased by 1.61% and 1.60% respectively compared with the same period last year. From January to December 2020, the company's domestic holding enterprises have completed a total of 148.283 TWh of gross electricity generated and 144.436 TWh of net electricity generated, representing a decrease of 8.55% and 8.13% respectively compared with the same period last year. If the impact of disposed subsidiaries is excluded, they are increased by 2.35% and 2.32% respectively compared with the same period last year.
In Q4 2020, the average on-grid tariff of the company's domestic holding enterprises is 0.303 RMB / kWh, representing an increase of 4.61% compared with the same period last year; From January to December 2020, the average on-grid tariff of the company's domestic holding enterprises is 0.301 RMB / kWh, representing an increase of 0.37% compared with the same period last year.
The operating results of the company's domestic holding enterprises in 2020 Q4 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 | 19.938 | 19.599 | 1.73% | 19.82 | 19.487 | 1.71% | 0.257 | 0.228 | 12.59% |
Thermal Power | 14.783 | 14.912 | -0.87% | 13.94 | 14.074 | -0.96% | 0.343 | 0.342 | 0.23% |
Wind Power | 0.975 | 0.688 | 41.77% | 0.952 | 0.672 | 41.70% | 0.494 | 0.443 | 11.33% |
Solar Power | 0.322 | 0.249 | 29.52% | 0.318 | 0.245 | 29.68% | 0.887 | 0.869 | 2.06% |
Disposed Subsidiaries | - | 5.022 | - | - | 4.676 | - | - | - | - |
Total | 36.019 | 40.47 | -11.00% | 35.03 | 39.154 | -10.53% | 0.303 | 0.290 | 4.61% |
The operating results of the company's domestic holding enterprises from January to December 2020 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 | 88.453 | 86.382 | 2.40% | 87.952 | 85.902 | 2.39% | 0.249 | 0.244 | 1.89% |
Thermal Power | 55.137 | 54.946 | 0.35% | 51.885 | 51.780 | 0.20% | 0.363 | 0.356 | 1.96% |
Wind Power | 3.402 | 2.622 | 29.76% | 3.325 | 2.562 | 29.77% | 0.479 | 0.468 | 2.34% |
Solar Power | 1.290 | 0.93 | 38.72% | 1.275 | 0.919 | 38.74% | 0.892 | 0.854 | 4.42% |
Disposed Subsidiaries | - | 17.261 | - | - | 16.050 | - | - | - | - |
Total | 148.283 | 162.142 | -8.55% | 144.436 | 157.213 | -8.13% | 0.301 | 0.299 | 0.37% |
Explanation of year-on-year changes in gross electricity generated of domestic power plants in 2020 Q4:
1. The overall year-on-year increase in hydropower generation is primarily due to favorable hydrological conditions compared with the same period last year.
2. The main reason for the overall year-on-year decrease of thermal power generation is the transfer and dispose of the company's equity in four thermal power enterprises.
3. The main reasons for the overall year-on-year growth of wind power generation are the successive commencing commercial operation of wind power stations and the merger and acquisition of wind power projects by the company.
4. The main reason for the overall year-on-year growth of solar power generation is the merger and acquisition of solar power projects by the company.
Explanation of year-on-year changes in average on-grid tariff of domestic power plants in 2020 Q4:
With the gradual progress of electricity pricing marketization, the types and scale of market-oriented electricity trading in some provinces are increasing. Meanwhile, the on-grid tariff of power plants fluctuates being affected by the settlement price and settlement cycle.
Operating results of overseas power plants in Q4 2020:
In October 2018, the company completed the acquisition of the 50000 kW onshore wind power project, Afton Wind Farm Limited, which is in good operation condition, with a total power generation of 147 million kWh from January to December 2020; in July 2019, the company completed the acquisition of the 9800 kW waste-to-energy power project in Bangkok, which is in good operation condition, with a total power generation of 79 million kWh from January to December in 2020.
The Board of Directors of SDIC Power Holdings Co., Ltd.
January 13, 2020
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