On the afternoon of March 19, CR Power held its 2017 Annual Results Announcement Conference on the 50th floor of China Resources Building in Hong Kong. More than 50 people comprising of investment bank analysts and fund company fund managers attended this conference. Li Ruge, the Chief Accountant of China Resources Group and Chairman of Board of CR Power, presided over the conference and announced the 2017 Annual Operating Results of CR Power.

In 2017, CR Power completed a turnover of approximately HKD 73.312 billion, showing a 10% increase over the same period last year. However, due to the sharp increase in domestic coal prices, the net profit was approximately HKD 4.623 billion. The installed capacity of CR Power with operating benefits is 36,077mw, of which coal-fired installed capacity accounts for 82.6%, and the annual coal consumption is 303.16 g/kWh, down 1.84 g/kWh; the installed capacity of clean energy, likely, wind, hydro, photovoltaic and gas, accounted for 17.4%, up 3.3% year-on-year, of which installed capacity of new wind power and photovoltaic reached a record high.

The average utilization hours of coal-fired power plants affiliated to CR Power reached 4,964 hours, showing a YoY increase of 1.4%, and exceeded the national average of 755 hours. The average utilization time of wind farms reached 2,225 hours, transcending the average of national wind turbine of 277 hours. Compared with 2016, the total power generation of power plants affiliated to CR Power was increased by 5.2% in 2017, and the total sales volume was up by 5.1%.

At the conference, representatives of Management Team of CR Power also gave patience to the questions raised by the analysts and fund managers about the future performance growth point, stable dividend policy, distributed energy prospects, and fuel cost trends.

Chairman Li Ruge stated that CR Power would work towards achieving the ideas of transformation, innovation, quality development, focus on and accelerate the construction and development of renewable energy; especially wind power projects, and actively expand the integrated energy service business, such as electricity sales, energy efficiency services and energy storage, enhance market competitiveness and become an integrated energy service provider gaining public trust, customer preference and enjoying sustainable development in the future.

Details of Results Announcement: /placer/gsgg/201803/P020180319439009209986.pdf