On Mar 17, CGN New Energy Holdings Co., Ltd (“CGN New Energy”, Stock Code 1811.HK) held Annual Results Announcement Meeting, releasing its 2015 Annual Results. Mr. Chen Sui, Chairman and Executive Director of CGN New Energy, Mr. Lin Jian, President and Executive Director of CGN New Energy presented at the meeting. CGN New Energy highlights the growth in installed capacity and increase in earnings, operation enhancement, asset injection and social responsibility. The details are as follows:
Steady Increase in Performance: Attributable installed capacity in operation with a year-on-year increase of 38.4%, Profit before tax with a year-on-year increase of 17.5%.
The announcement shows that, CGN New Energy ensures its operation efficiency and safety in each business segment. It strictly fulfilled its promise to shareholders and the market during IPO and finalized first batch of assets injection of high-quality wind and solar power assets of 1,400 MW, and its attributable installed capacity increased from 3,660 MW in 2014 to 5,065 MW in 2015 at a growth rate of 38.4%.
With harsh challenge from power market, CGN New Energy committed to balance its energy structure and realized USD 1151.9 million of revenue in 2015. Annual total power sale reached 10376 GWh, 9.5% higher than 2014; steaming sold was 2,752,000 tons, increased by 2.6% than last year; Profit before tax was USD 162.4 million, 17.5% higher than last year, and profit attribute to shareholders is USD 103.9 million, 22.1% higher than last year.
Abundant Varieties of business with Rational Distribution
CGN New Energy possesses multiple business type and its assets cover wind, solar, gas-fired, coal-fired, oil-fired, hydro, co-gen, fuel cell power generation projects and a steam project in China and Korea.
In 2015, CGN New Energy proactively promoted its business layout, the attributable installed capacity accounting for 59.6% in the PRC and 40.4% in Korea; clean and renewable energy projects covers 65.1% of total attributable installed capacity, and conventional energy projects accounted for 34.9%.
Enhance Technology Innovation, Improve Operation and Management
Led by technology innovation, CGN New Energy adopted “information+” strategy to improve productivity and O&M capability. For example, by combining new technology and management method, wind generation units across the country realized remote monitoring and standard O&M, sharing real-time production data nationwide.
Meanwhile, CGN New Energy proactively promoted “Preventive and Condition-based Maintenance” and effectively controlled failure rate. We adopted new technology and equipment in component cleaning to reduce outsourced cleaning, thus lower the O&M cost. At the same time, a skillful O&M team has been cultivated by promotion of regional independent overhauls.
Socially Responsible to Build a Conscientious Enterprise
CGN New Energy devotes to our motto “Natural Energy Powering Nature” seriously and considers supplying safe, environment-friendly and economic clean energy to society as our top priority, and, by our professional attitude, effective communication and outstanding performance, to obtain understanding and support from all levels of governments, partners and the public. Meanwhile, CGN New Energy will seek to discover a way to combine development of the company and benefit of the people.