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CYPC Holds 2023 Semi-annual Performance Briefing
Release time:2023-09-08

On the morning of September 4, in order to convey the company's values and principles and enable investors to have a more comprehensive and in-depth understanding of the company's development, CYPC held the 2023 Semi-Annual Performance Briefing which combines "on-site interaction with online live streaming". This event attracted over 20 institutions, including CITIC Securities, Haitong Securities, Minsheng Securities, China Post Fund, etc. as well as nearly 600 investors. The company's CFO ZHAN Pingyuan, the Board Secretary XUE Ning, and the heads of relevant departments and units attended the event.

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ZHAN Pingyuan, on behalf of the company, expressed his gratitude for the concern and support from shareholders, investors, and the media. He also provided a brief report on the company's operational performance and progress in key tasks in the first half of 2023, as well as the operational tasks for the second half of the year. In the first half of the year, the company continued to consolidate large-scale hydropower projects at a high level, expand new areas with high standard, and promote technological innovation from a big picture. Despite adverse factors such as the slightly poor inflow, the company's cumulative electricity generation reached 103.2 TWh. The company's key performance indicators, such as "one benefit and five ratios" (total profit and asset-liability ratio, net asset return rate, labor productivity, R&D investment intensity, and operating cash ratio) remained within a reasonable range. Furthermore, the company also advanced key projects such as the pumped storage power station, the national demonstration base for integrated wind power, photovoltaic power, hydropower and energy storage development in the lower reaches of the Jinsha River, and integrated smart energy project in an orderly way, laying a solid foundation for achieving the annual production and operational goals.

During the exchanges with investors, representatives from various organizations actively raised questions, demonstrating the lively and harmonious atmosphere at the meeting. The management answered some questions typically of concern to investors in detail, including the inflow from the Yangtze River, joint operation of cascade hydropower plants, feed-in tariffs for Wudongde and Baihetan HPPs, and the hydro, wind and photovoltaic power integration project in the lower reaches of the Jinsha River, which further bolstered investors' sense of identification.

CYPC will remain confident, proactively tackle challenges, and achieve annual production and operational objectives with a stronger sense of mission, responsibility, and urgency to promote high-quality development of the company. It will accelerate the efforts to become a world-class listed company engaged in clean energy and consistently deliver long-term and stable investment returns to its shareholders.