CGN Power announces its annual results in 2021.
On March 18, 2022, CGN Power Co., Ltd (referred to as “CGN Power”, H Shares Stock Code: 01816.HK; A Shares Stock Code: CGN Power 003816.SZ) held a annual results annouancement in Shenzhen. In 2021, CGN Power coordinated safety and development, properly responded to the challenges brought by the COVID-19, maintained steady operation, and achieved good business performance.
Two Route Operation: COVID-19 Prevention and Control and Safe Production
Zero infection in nuclear power production area
In 2021, epidemic prevention and control and safe production have become a routine requirement, under the unified leadership of the state. CGN Power continued to accumulate experience in epidemic prevention and control, improve accurate prevention and control measures, since the outbreak of the COVID in 2020, the nuclear power production area of CGN Fleet has recorded zero personnel infection and employees and partners personnel health have been effectively protected.
More Power Generation and Full Load Power Generation
Annual on-grid power generation increased by 7.86% year-on-year.
In 2021, the overall situation of electricity supply and demand in China is tight, the domestic electricity consumption of the whole society increased by 10.3% year-on-year, CGN Power went all out to do a good job in stabilizing the supply of electricity, actively overcoming the impact of various unfavorable factors such as COVID, typhoon weather conditions and sea ice risks, maintaining the safe and stable operation of all nuclear power units in operation, ensuring more power generation and full load power generation, and striving to provide safer, more reliable and economical clean electricity for the society, and achieving 201.151 billion kWh of on-grid electricity throughout the year, an increase of 7.86% over 2020.
In 2021, the Company achieved a good operating performance, with revenue of RMB 80.679 billion yuan, an increase of 14.3% over the previous year; The net profit attributable to the shareholders of the parent company was RMB 9.733 billion yuan, an increase of 1.8% over the previous year; After deducting the impact of non recurring profits and losses, the net profit attributable to the shareholders of the parent company was RMB 9.73 billion, an increase of 3.4% over the previous year. According to the operating conditions of the corporation, the Board of Directors proposed to pay a final cash dividend of RMB 0.084 per share (including tax), an increase of about 5% over the same period of last year.
Excellent Operation Performance
80.33% of performance indicators of CGN units have reached the world excellent level.
In 2021, CGN Power safety management system is operating effectively, the 25 nuclear power units in operation under management have maintained a good safety state, the proportion of the World Association of Nuclear Operators (WANO) performance indicators entering the world's top 1/10 (excellent level) remains at a high level with 80.33% of the unit performance indicators entering the world's excellent level, ranking at the forefront of international industry.
Ensuring ‘nothing goes wrong’ with nuclear safety is the primary responsibility of nuclear power operators. CGN Power has always adhered to the basic principles of “Nuclear Safety is Paramount” and “Safety First, Quality First, and Pursuit of Excellence”, and implemented these concepts and principles into every specific step of the production and construction of nuclear power plants, promoted the construction of safety culture in an institutionalized manner, and continuously improved the Company’s safety and quality management level.
The annual on-grid power generiton reduction effect is equivalent to 450,000 hectares of forest.
CGN Power adheres to a highly responsible attitude towards the environment and attaches importance to the construction of environmental monitoring system. In accordance with the requirements of laws and regulations, each nuclear power base to which the Company belongs has set up a special environmental protection management agency, equipped with professional environmental protection personnel, implemented a unified environmental monitoring work system, and formed a complete environmental monitoring system. The environmental monitoring results in 2021 show that the monitoring results of the surrounding environment of each nuclear power plant managed by CGN Power are normal and have not adversely affected the environment.
In 2021, on-grid power generation of CGN Power is equivalent to reducing the consumption of standard coal by about 60.85 million tons and carbon dioxide emissions by about 167.36 million tons, which is equivalent to planting more than 450,000 hectares of forest.
Reliable Low Carbon Operation
CGN Power puts forward a future development plan.
“Active, Safe and Orderly Development of Nuclear Power” as specified in the “Opinions of the CPC Central Committee and the State Council on Completely, Accurately and Comprehensively Implementing the New Development Concept and Doing a Good Job in Emission Peaking and Carbon Neutralization”, the nuclear power, as a stable, reliable and efficient clean energy source, is the only base-load power source that can replace traditional fossil energy on a large scale.
In order to lead the Company’s future development, the Board of Directors has approved the “Medium- and Long-term Development Strategy and the 14th Five-Year Plan for the Nuclear Energy Industry” prepared by the Company. CGN Power strives for robust operation, focuses on the long term, focuses on nuclear power generation and nuclear energy professional services, and strives to become a world-class nuclear energy enterprise with global competitiveness. By 2035, key performance indicators of CGN Power, such as nuclear power safe operation, engineering construction and operating efficiency will reach an excellent level; At the same time, the Company will moderately expand nuclear energy heating, steam supply and other services to enhance the comprehensive benefits of comprehensive utilization of nuclear energy; In addition, the Company is also appropriately exploring investment in supporting energy storage projects related to nuclear power. During the “14th Five-Year Plan” period, the Company will focus on five aspects: Safety, Quality and Environmental Protection, Engineering Construction, Scientific and Technological Innovation, Business Efficiency and Enterprise Management, aim at the goal of world-class, and achieve higher quality, more efficient, fairer, more sustainable and safer development.
In the future, CGN Power will closely track these changes in the external environment, actively respond, conscientiously plan, and seize development opportunities, at the same time, will also achieve comprehensive improvement in scientific and technological innovation and corporate governance, actively practice corporate social responsibility, deeply practice the work style of “Strict Compliance, Prudent Decision-making, Detail-oriented and Fact-based Approach”, continue to promote the Company's high-quality development, and repay shareholders with stable business performance to achieve the goal of striving for the world class.