On the afternoon of August 16, CR Power held the 2018 Interim Results Announcement Conference on the 50th Floor of China Resources Building in Hong Kong. Then, more than 60 persons, including analysts from investment banks and fund managers from fund companies, were present at the conference, which was chaired by Li Ruge, the Chief Accountant of China Resources Group and Board Chairman of CR Power, who also announced the interim business results of CR Power of 2018.

In the first half of 2018, CR Power achieved the turnover of about HKD 39.307 billion, with an increase of 15.3% compared with the same period of last year, and met the net profit of HKD 2.959 billion, with a rise of 59.6% compared with the same period of last year. Up to the end of June, CR Power’s installed capacity of operational rights and interests was 36,917 MW. The installed capacity of operational rights and interests of coal power was 29,815 MW, accounting for 80.8%; the average coal consumption of power supply was 298.3g/kWh, with a decrease of 4.5 g/kWh compared with the same period of last year. The generating capacities of wind power, hydropower, solar power, and gas power were 6,411 MW, 280 MW, 333 MW and 79 MW respectively, accounting for 19.2%, with a rise of 1.8 percentage points compared with the end of 2017. According to part of the profit, the renewable energy dominated by wind power exceeded the traditional thermal power for the first time.

In the first half year, the affiliated average utilization hours of coal-fired generating units of CR Power were 2,412 hours, which are 286 hours more than the national average utilization hours of thermal power generating units in the first half year; the full-load average utilization hours of wind power were 1,290, which are 147 hours more than the national average utilization hours of thermal power in the first half year.

At the conference, representatives of the management team of CR Power also patiently answered questions asked by present analysts and fund managers about the future performance growth points, regular dividend distribution policy, the prospect of distributed energy, fuel cost tendency, and others.

Chairman Li Ruge said that, in the future, CR Power would continue to hasten the development of renewable energy, adjust the company’s structure of power generating assets, continue to propel the innovative transformation briskly and exploit new business patterns and profit growth points, in an effort to build CR Power into a trustworthy international comprehensive energy provider preferred by clients.

Ge Changxin, the Vice Chairman of the Board of Directors, executive director and Senior Vice President of CR Power, and Wang Xiaobin, executive director, and CFO, attended the conference.

Details of the Results Announcement: /placer/gsgg/201808/P020180816444310553086.pdf