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6165金沙发电股份有限公司

Investor Relations

Investor Q&A

INVESTOR Q&A

1. What is the Company ’s view on the trends of nationwide power suply and demand in 2015?

The year 2015 will be a crucial year for intensified and comprehensive reforms. As pointed out by the Central Economic Work Conference, the general trend is to make progress amidst stability in 2015. According to the forecasts by the China Electricity Council, GDP is expected to grow by approximately 7.0% in 2015, lower than the rate of growth in 2014.The power consumption across the country will grow by 4% to 5%, which is 2 percentage points higher than last year. The total installed power capacity in the country is estimated to reach 1,460 million kWh at the end of 2015, representing an approximately 7.5% year-on-year growth while annual utilisation hours of power generation facilities is estimated at approximately 4,130 hours, with utilisation hours of coal-fired power generation facilities reaching approximately 4,650 hours, possibly hitting a new low in the future. It is expected that the balance in the overall electricity supply and demand across the country will continue in 2015, with greater electricity surplus in the north eastern and north western regions, and balance between supply and demand found in eastern, central and southern regions. There will be electricity surplus in some of the provinces in every region in 2015, and the supply and demand will generally be balanced in the northern region, while certain regions may experience shortage in supply.

2. What are the Company ’s total utilisation hours in relation to al fuel types in2014?

The total average utilisation hours were 4,701 hours in 2014, dropping 281 hours year-on-year. Amongst which, utilisation hours in relation to coal-fired power,hydropower, wind power and photovoltaic power projects reached 5,046 hours, 3,427 hours, 2,000 hours and 1,672 hours respectively, representing a decrease of 358 hours, an increase of 297 hours, a decrease of 218 hours and an increase of 38 hours year-on-year respectively.

3. What progress did the Company make in obtaining aproval for its projects in2014?

During 2014, 7 power generation projects of the Company were officially approved with a total capacity of 2,796 MW.Including,

1) Coal-fired power projects: Hebei Wei County power plant 2 × 600 MW project, Inner Mongolia Autonomous Region Tuoketuo power plant phase V 2 × 660 MW project;

2) Wind power projects: Ningxia Hui Autonomous Region Hongsibao phase one 100 MW project, Liaoning Datang International Changtu Sanshengtun 50 MW project, Liaoning Datang International Fuxin Sifangmiao 50 MW project, Jiangxi Datang International Xunwu Luanluozhang 66 MW project;

3) Hydropower capacity expansion project:Chongqing Haokou Hydropower 10 MW capacity expansion project.In addition, Gaungdong Leizhou 2 x 1,000 MW power project was officially approved in January 2015.

4. What are the Company ’s capital expenditure plans and structures for 2014 and 2015?

The capital expenditure on a consolidated basis actually incurred in 2014 was approximately RMB24,815 million, and the capital expenditure on a consolidated basis to be incurred in 2015 is expected to be approximately RMB17,733 million. Details of the structure are set out in the table below.

Table showing the percentages of capital expenditure of the Company by business sector for 2014-2015

Investment Sector

Proportion in 2014

Proportion in 2015

Company’s total (on a consolidated basis)

100%

100%

Coal-fired

19.65%

52.12%

Hydropower

33.62%

37.89%

Wind power and photovoltaic power

6.79%

8.99%

Coal

3.16%

0

Coal-to-chemical

28.94%

0

Others

7.84%

0.99%

5. What are the Company ’s achievements in the past twenty years of development ?

December 2014 marked the twentieth year of the Company’s development. Looking back, the Company has achieved outstanding results in the past twenty years.

1) Regional layout: The Company successfully implemented the strategy of“constructing power source projects outside North China, in West China and towards coastal areas”, and currently operates subsidiaries and projects under construction in 18 provinces and cities in the country. Its installed capacity grew by 13.6 times, and has obtained approval for power projects with an aggregate capacity of 46.37 million kWh. In addition, the Company has a total reserved power capacity of over 65.00 million kWh.

2) Power generation structure: In 2014, renewable energy resources including hydropower, wind power and photovoltaic power accounted for 16.9% of the Company’s total power capacity. Meanwhile, 64.35% of the Company’s coal-fired thermal power units has a capacity of over 600,000 kWh, and the total capacity of heating generating units increased by 14.7 times. The Company owns 24 thermal power units that were awarded National Reliable Power Generation Units — Gold Medal, represented 12.8% of the total number of awards received across the country.

3) Profitability: The total assets of Datang Power grew by 42 times during the past 20 years. The Company generated profit of over RMB73.0 billion in total.

4) Energy conservation and emission reduction: The Company aims at becoming an environmentally friendly enterprise which focuses on conservation of resources. As of today, the denitrification equipment rate for units operating on-grid has reached 100%.

5) Technological innovation: The Company conducted 6 projects under the National “863” Projects, and 12 projects under the national, ministerial and provincial scientific and technological support projects. It received 2 National Scientific and Technological Progress Award, 98 Industrial,Ministerial and Provincial Scientific and Technological Progress Award and was granted 352 patents.

6) Quality of team: In the past 20 years, the proportion of staff with a bachelor’s degree or higher increased by 45.1 percentage and the proportion of staff with intermediate or senior professional titles increased by 14.7 percentage. Employees who are above technician title increased by 6.5 times and we employed 278 technical talents who worked in national electricity enterprises or state-owned enterprises, which provided strong backup to the Company.

Editor:CmsTop    Source:

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