China Power Investment Corporation Website/ Securities Times: Shanghai Electric Power 2013 net profit: 1.18 billion Yuan, year-on-year increase three percent

Source: Securities Times - Securities Times

Date: 14.01.28

    Today, Shanghai Electric Power (600021) released its annual express of 2013: 2013 total revenue is 15.131 billion Yuan, year-on-year increase 0.53%; net profit is 1.181 billion Yuan, year-on-year increase 33.35%; earning per share is 0.55 Yuan.

    By the end of 2013, the company’s owns 8469.7MW equity installed capacity, year-on-year rise 1307.8MW, with 6025.3MW thermal power (account for 71%, year-on-year increase 330MW), 2242.3MW gas power (account for 26%, year-on-year increase 785.8MW), 202.1MW new energy (account for 2%, year-on-year increase 192MW).

    According to Shanghai Electric Power, the main reasons for the growth performance can be explained from two aspects: for one thing, the company actively fights for effective power in 2013. Throughout the year the company completed a total generating capacity of 31.119 billion kWh, year-on-year increase nearly 2%. At the same time, it actively explores electrical maintenance, operation services market, thus the maintenance, operation and other service revenue increased significantly year on year. On the other hand, the company focus on cost control. The company declined to seize the favorable opportunity of the market price reduction, and further optimize coal procurement strategy. With the scientific blending, the coal cost fell by nearly 15%. In addition, by optimizing the loan structure and implementation of low-cost direct financing, the company's financial expenses increased by about 5%.

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