Securities Times, Shanghai Electric Power earned a net profit as 883 million yuan last year, increased by 90% on a year-on-year basis.

Source: Securities Times,


Date: 2013.4.25 

According to the 2012 annual report published by Shanghai Electric Power (600021) on April 23rd, it has achieved a net profit as 883 million yuan last year, increased by 90.65% on a year-on-year basis, creating another record-high business performance. The first-quarter report published at the same time has shown that Shanghai Electric Power has achieved a net profit as 238 million yuan, increased by 38.14% on a year-on-year basis.

 In the first quarter of this year, Shanghai Electric Power, through enhancing the co-combustion proportion of low-heating-value coal and strengthening fuel management, has reduced its combined standard coal price by 15.80% on a year-on-year basis. According to the 2012 coal market situation and the judgment of 2013 overall economic situation, the coal price in 2013 is expected to be lower stably, leading to the further lower coal market risk faced with by Shanghai Electric Power.

 According to information, Shanghai Electric Power in 2013 will ensure 1 set of power unit of Tianji Power Plant Phase II put into operation and try its best to put 2 units into operation if possible; and at the same time, it will accelerate the construction of Minhang Gas Turbine Project, and accelerate the preparatory work of launching coal-fired power, gas power, wind power, solar energy and distributed energy supply projects in Shanghai, Jiangsu, Zhejiang, Anhui and Shandong. In 2013, it will actively make the good-quality coal resources found overseas, including Indonesia and Australia become practical, develop hydropower generation in Indonesia stably, and try its best to make several overseas clean energy projects and power generation projects begin construction. 

The operational objective of Shanghai Electric Power is to finish the power generation volume as much as 29.405 billion kilowatt hours, achieve a net profit attributed to the equity of shareholders as 710 million yuan; and its objective of energy saving and environmental protection is to lower down the overall emission of sulfur dioxide by 17 million ton, compared to that of 2012.

 Shanghai Electric Power plans to distribute a cash dividend as 1.5 yuan per 10 shares. (Journalist Huang Ting)

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