COMPANY NEWS

Wang Yundan Meets Huainan Mining Industry Group Chairman

On September 19, SEP Chairman Wang Yundan met Kong Xiangxi, Party Secretary and Chairman of Huainan Mining Industry (Group) Co., Ltd. and his delegation.

Wang introduced the company's industry structure adjustment to Kong and his delegation, with detailed introduction to the "four transformations" development strategy and new energy development project. Wang noted that SEP had an overall stable safe production situation in the January-August period. Having overcome a series of difficulties including declining utilization hours of units, rising coal prices and electricity price cut, the company managed to remain its operation and performance at the same level as last year. Considering the difficult situation in the coming two years, the company has developed the awareness to steadily conduct thermal power unit ultra-clean emission rehabilitation in order to enjoy the national environmental protection policy for electricity price allowance and enhance profitability, while positively conform to SPIC's development strategy, carry out overseas projects orderly, continue to push forward SEP's international strategy goal, and finally realize the company's vision to "become a leading company based in Shanghai, thriving in China and excellent worldwide".  

Wang expressed that the cooperation between SEP and Huainan Mining Industry Group is the first successful example of "coal-electricity integration" in China, and he hoped both sides to forge ahead with strong alliance, further strengthen communication and cooperation in order to realize win-win.

Kong said that the company has implemented major adjustment in its internal management system since this year, established market-oriented and benefit-centered management concept, and adopted a series of measures including power decentralization and internal purchase of coal. Despite double blow of lower-than-expected coal prices and on-grid electricity price reduction, the company achieved profit in the January-August period. He vowed to hold on to the coal-electricity integration development strategy, further improve room for cooperation and strive to make more remarkable achievements through operation.

On the meeting, both sides discussed about operation goals and management models of Huaihu Electric Power Co., Ltd. and reached consensus.

CFO Chen Wenhao, heads of related SEP departments and Huaihu Company participated in the meeting.

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