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Annual grid off take exceeds 210 billion kilowatt-hours! CGN Power announced the 2023 annual results

Source: 发布时间: 2024/03/28


On March 28, CGN Power Co., Ltd. (stock code on the Main Board of the Hong Kong Stock Exchange: 1816.HK and stock code on the Shenzhen Stock Exchange: 003816.SZ) made the 2023 Annual Results Announcement. In 2023, CGN Power adhered to high-quality development, strictly safeguarded nuclear safety, and maintained stable business operation, resulting in continuous improvement of business performance, annual grid offtake up to 214.146 kilowatt-hours, and nearly 80% of WANO (World Association of Nuclear Operators) indicators reaching worlds advanced levels. Mr. Yang Changli, Chairman of the Board of Directors &Non-executive Director of CGN Power, Ms. Xu Hua, Independent Director, Mr. Yin Engang, Chief Financial Officer &Board Secretary, Mr. Qin Yuxin, Vice President, and Mr. Liu Haijun, Vice President attended this conference.

Operation indicators maintain growth and the percentage of dividends amount to 44.26%

In 2023, electricity consumption of the whole society increased by 6.7% year-on-year, and the overall supply and demand of electricity nationwide was tightly balanced. 27 operational nuclear power units under the management of CGN Power maintained safe and reliable operations, achieving the grid offtake of 214.146 kilowatt-hours, a year-on-year improvement of 7.95%, and continuing to provide safe, reliable and efficient clean energy to the provinces and regions where they are located. By the end of 2023, the installed capacity of operating units and construction units managed by CGN Power has reached 43,810MW, maintaining a leading position in terms of the installed capacity in the country.

In 2023, CGN Power overcame the risk of price fluctuations in the power market and tightly controlled all kinds of non-essential expenditures, realizing net profit attributable to the shareholders of the parent company of RMB10.725 billion, a year-on-year improvement of 7.64%. The Board of Directors has recommended a final cash dividend of RMB0.094 per share for 2023, representing a year-on-year increase of 8.05% and a dividend payout ratio of 44.26%, which continues to fulfill the commitment of the five-year dividend plan.

Excellent operation performance of operating units with the first HPR1000 unit in the western area achieving a capability factor of 98.2% in its first cycle

The overriding priority of a nuclear power enterprise is to ensure absolute nuclear safety. CGN Power has been continuously consolidating the operating foundation and building a long-term mechanism through constant optimization of the integrity and effectiveness of safety, quality and environmental protection system so as to achieve good safety management performance.

Unit 1 of CGN Ling Ao NPP has been operating safely and stably for more than 6,300 days

As the first large commercial nuclear power station in mainland China, Daya Bay Nuclear Power Station has been maintaining safe and stable operation for 30 years after being put into commercial operation in 1994; Unit 1 of Ling Ao NPP has been operating safely and stably for more than 6,300 days, providing the Guangdong-Hong Kong-Macao Greater Bay Area with clean power steadily; Yangjiang Nuclear Power Co., Ltd. has received the 20th China Quality Award, which is the third organization under CGN Power to receive this award after Daya Bay Nuclear Power Operation and Management Co., Ltd. and Liaoning Hongyanhe Nuclear Power Co., Ltd.

In 2023, approximately 80% of WANO indicators of 27 nuclear operating units under the management of CGN Power reached the worlds advanced levels. Average capability factor of CGN Powers 24 nuclear operating units applying generation II and generation II advanced nuclear power technologies reaches the worlds advanced level for six consecutive years.

▲“HPR1000Project of Phase II of CGN Guangxi Fangchenggang Nuclear Power Plant

CGN Fujian Ningde Nuclear Power Base

▲“HPR1000Construction Site of CGN Guangdong Taipingling Nuclear Power Base

On March 25, 2023, Unit 3 of CGN Guangxi Fangchenggang Nuclear Power Plant - the first HPR1000in western China - was put into operation for power generation officially. It achieved safe and reliable operation in the first cycle and a capability factor of 98.2%. In terms of approval for new projects, Units 5&6 of Fujian Ningde NPP and Units 3&4 of Guangdong Taipingling NPP under CGN Power received the national approval. By far, CGN Power is managing 11 construction units in total, all applying the HPR1000nuclear power technology, and among which Unit 4 of Guangxi Fangchenggang NPP is expected to be put into operation in the first half of 2024. The company will continue to implement the goal of one project is better than another, one unit is better than anotherto steadily promote the batch construction of HPR1000.

Adhering to scientific and technological innovations and constructing the South Center in an orderly manner.

Since Daya Bay Nuclear Power Station was established in 1980s, CGN Power has always been adhering to scientific and technological innovations to lead the company development and constantly promoting technical modifications and independent innovations. It has successively formed the Generation II CPR1000 and CPR1000+ technologies with independent intellectual property rights, ACPR1000 technology with Generation III nuclear power technology features, as well as Generation III HPR1000technology.

China Southern Atomic Energy Science and Technology Innovation Center

CGN Power fully incorporates into the national regional innovation landscape to promote the construction of R&D platform in a high-quality manner. Focusing on innovations of nuclear energy science and technologies, CGN Power has orderly promoted the construction of China Southern Atomic Energy Science and Technology Innovation Center in three R&D bases, including Shenzhen, Zhongshan and Yangjiang, actively applied for two new national R&D centers, and developed the cradle of original technologies for advanced nuclear power, providing support for the improvement of the companys R&D capability.

Scientific and technological innovations are core elements in the development of new quality productive forces. CGN Power will firmly apply the innovation-driven developmentstrategy, constantly improve the construction of scientific and technological innovation system and R&D platform, invest additional efforts in tackling critical technologies, continue to optimize Generation-III nuclear power technology, expedite the R&D of advanced nuclear power technologies, develop new quality productive forces for nuclear energy, and reserve core technologies for the long-term development of the company.

Implementing a new development concept with grid offtake equivalent to emission reduction of about 176 million tons of carbon dioxide in 2023

As a clean and efficient energy, nuclear power is featured with rigorous regulation and transparent nuclear safety culture, and is a perfect fit with the environmental, social and corporate governance (ESG) management concept. CGN Power gives full play to the industrys advantages, continues to act positively in ecological environmental protection, efficient corporate governance, support for rural revitalization, etc., and strives to embody the role of a central enterprise. In 2023, CGN Powers annual cumulative grid offtake is equivalent to consumption reduction of standard coal by about 64,672,200 tons and carbon dioxide reduction by about 176 million tons, with an emission reduction effect equivalent to afforestation of more than 480,000 hectares.

Excellent corporate governance system is critical to the sustainable corporate value creation. CGN Power actively constructs a diversified Board of Directors, constantly improves the corporate governance system, and strives to create best ESG practices. In 2023, CGN Power successfully completed the renewal of its Board of Directors. The new Board members have knowledge and experience in the power industry, financial accounting, law, safety and other professions as well as the supervision and management of state-owned enterprises, respectively, and there are also two female directors, which realizes the companys goal of gender diversification on the Board of Directors. Looking ahead, CGN Power will aim to accelerate the construction of a world-class nuclear energy enterprise with global competitiveness, improve the quality of the company in multiple dimensions and levels, maintain its leading position in the industry, and realize higher quality and more sustainable development.