COMPANY NEWS

2021 New Year Address

As the new year begins, everything is fresh again. As the extraordinary year of 2020 is about to say goodbye to us, we are going to embrace 2021 with full of expectations.

At this festive moment, I would like to extend my best New Year wishes to vast numbers of investors, partners and friends from all walks of life who have long been caring for and supporting the business development of SEP, to all the hard-working cadres, staff and their families, and to all the retired senior comrades.

Facing the serious impact of the coronavirus pandemic in 2020, we adhered to putting the interests of shareholders at the center, taking market demand as the guidance and serving the society as our responsibility, persisted in ecological priority and green development, based in the Yangtze River Delta region and East China, facing the Yangtze River Economic Belt, radiating the whole country, looking around the world, and steadily marched ahead towards high-quality development. SEP continued to maintain good profitability, with the holding installed capacity expected to reach nearly 17 GW at the end of the year, an increase of around 7.5 percent year-on-year. The company also made rapid and stable progress in regional coordination development, with the holding installed capacity in the Yangtze River Delta region expected to stand at about 14.35 GW, accounting for 86 percent of the company's total domestic installed capacity, and the holding installed capacity in the Yangtze River Economic Belt expected to be around 15.01 GW, accounting for 90 percent of the company's total domestic installed capacity. The company's energy mix was further optimized, with the proportion of clean energy expected to be close to 50 percent at the end of the year, rising nearly 4 percentage points year-on-year.

This year, we carried out the research on the comprehensive utilization of hydrogen energy and clean energy in the Yangtze River Economic Belt, achieved a series of results, and worked closely with the relevant parties to promote the regional coordinated development. We held a number of forums on the subjects of renewable energy development, clean energy and electrical energy replacement, and invited government departments, industry leaders and experts from various fields to gather together, pool their wisdom and discuss great plans. We focused on the Belt and Road Initiative and promoted the development of "going global" resolutely. We advanced the enterprise reform and management improvement solidly, and fully released the vitality of systems and mechanisms. Through concerted efforts, our business blueprint has become gradually clearer, our "circle of friends" has grown larger and larger, and the momentum of high-quality development has turned even stronger.

As a saying goes, what's past is prologue. In 2021, the first year of the 14th Five-Year Plan period (2021-2025), we will focus closely on the requirements and situations such as the "dual circulation", "peak carbon emissions" and "carbon neutrality", aim at  building a world-class clean energy enterprise, take innovative development, coordinated development, green development, open development, shared development and smart development as the mainstay, emphasize on boosting clean transformation and development on the supply side and clean energy replacement on the demand side, advance enterprise reform and management improvement solidly, and spare no efforts to become a popular value "creator" for investors and a "pacesetter" for the ecology and energy development in the Yangtze River Economic Belt.

We will continue to join hands with all parties, complement each other's strengths, make the most of every minute, march ahead together to make new contributions to boosting social and economic development and realizing the Chinese Dream of the national rejuvenation, and greet the 100th anniversary of the founding of the CPC with outstanding achievements.

I wish you all good health, every success in your work and happiness for you and your families in the new year!

 Party Secretary and Chairman: Hu Jiandong
December 31, 2020

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