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CGN NEW ENERGY HOLDINGS CO., LTD.
中 國 廣 核 新 能 源 控 股 有 限 公 司
(incorporated in Bermuda with limited liability)
(Stock code: 1811)
Announcement
Trading Update
Power Generation For July 2020
This announcement is made by CGN New Energy Holdings Co., Ltd. (the "Company") on a voluntary basis.
The board (the "Board") of directors (the "Directors") of the Company announces that, according to the preliminary statistics of the Company, the power generation of the Company and its subsidiaries (the "Group") on a consolidated basis amounted to 1,029.2GWh for the month of July 2020, representing a decrease of 12.2% compared with the corresponding period of 2019. In particular, power generation of PRC wind projects increased by 41.9%, power generation of PRC solar projects increased by 58.6%, power generation of PRC coal-fired, cogen and gas-fired projects decreased by 80.7%, power generation of PRC hydro projects decreased by 14.7% and power generation of Korea gas-fired projects decreased by 15.3%. For the seven months ended 31 July 2020, the accumulated power generation of the Group amounted to 7,889.0 GWh, representing an increase of 1.7% compared with the corresponding period of 2019. In particular, power generation of PRC wind projects increased by 42.5%, power generation of PRC solar projects increased by 54.5%, power generation of PRC coal- fired, cogen and gas-fired projects decreased by 79.1%, power generation of PRC hydro projects decreased by 17.0% and power generation of Korea gas-fired projects remained at the same level as of the corresponding period of 2019.
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Details of the power generation of the Group for July 2020 (with corresponding period of 2019) are set out as follows:
Accumulated Accumulated Year-on-year | ||||||||||||
power | power | percentage | ||||||||||
generation | generation | change of | ||||||||||
Power | Power | Year-on-year | for the | for the | accumulated | |||||||
generation | generation | percentage | seven months | corresponding | annual | |||||||
for | for | change for | ended | period of | power | |||||||
July 2020 | July 2019 | July | 31 July 2020 | 2019 | generation | |||||||
(GWh) | (GWh) | (%) | (GWh) | (GWh) | (%) | |||||||
PRC wind projects | 301.3 | 212.4 | 41.9 | 2,533.4 | 1,777.7 | 42.5 | ||||||
PRC solar projects | 115.6 | 72.9 | 58.6 | 760.6 | 492.2 | 54.5 | ||||||
PRC coal-fired, cogen and | ||||||||||||
gas-fired projects | 41.0 | 212.5 | (80.7)1 | 210.3 | 1,006.4 | (79.1) | ||||||
PRC hydro projects | 95.0 | 111.4 | (14.7)2 | 485.1 | 584.2 | (17.0) | ||||||
Korea gas-fired projects | 476.3 | 562.4 | (15.3)3 | 3,899.6 | 3,900.0 | 0.0 | ||||||
Total | 1,029.2 | 1,171.6 | (12.2) | 7,889.0 | 7,760.5 | 1.7 | ||||||
- Since January 2020, one of the projects has temporarily stopped operations due to, among others, its restricted access to local water supply, which caused a year-on-year decrease in power generation in July 2020.
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As the water inflow to one of the projects in Guangxi decreased by 81% year-on-year, resulting in a year-on-year decline in power generation in July 2020.
Due to the delay in complement of a major maintenance of one of the projects' generating unit, it resulted in a year-on-year decrease of power generation in July 2020.
Note : Certain figures included in this announcement have been subject to rounding adjustments, or have been rounded to one decimal place. Any discrepancies between the total shown and the sum of the amounts listed are due to rounding.
The above trading update for July 2020 is based on preliminary internal management information and such information is unaudited and is for the purpose of investors' reference only.
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Shareholders of the Company and potential investors are advised to exercise caution when dealing in the securities of the Company.
By Order of the Board
CGN New Energy Holdings Co., Ltd.
Li Yilun
President and Executive Director
Hong Kong, 12 August, 2020
As at the date of this announcement, the Board comprises seven Directors, namely:
Chairman and non-executive Director | : | Mr. Chen Sui |
Executive Directors | : | Mr. Li Yilun (President) and |
Mr. Zhang Zhiwu | ||
Non-executive Director | : | Mr. Xing Ping |
Independent non-executive Directors | : | Mr. Wang Minhao, |
Mr. Yang Xiaosheng and | ||
Mr. Leung Chi Ching Frederick |
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