CYPC has six large hydropower stations (Three Gorges, Gezhouba, Xiluodu, Xiangjiaba, Wudongde, and Baihetan) along the mainstream of the Yangtze River, with the total installed capacity of 71.695 GW. Through"coordinated dispatching of six reservoirs -Three Gorges, Gezhouba, Xiluodu, Xiangjiaba, Wudongde, and Baihetan," the company has given full play to the cascade hydropower stations, which improved the utilization and production efficiency of hydropower, reduced the cost of production and operation, and consolidated the leading position of CYPC in the global hydropower industry, laying a solid foundation for the efficient implementation of CYPC is future development strategies.
Giving full play to its advantages of boasting high-quality assets, stable cash flow, high credit rating and good brand image, and adhering to the guiding role of strategies, CYPC focuses on its main responsibilities and core businesses and makes overseas investment steadily in clean energy, integrated smart energy, upstream and downstream industrial chains, and technological innovation among other fields. In recent years, CYPC's annual return on investments has increased steadily year by year from about CNY 1.3 billion in the early stage of the "13th Five-Year Plan" period to about CNY 4.75 billion in 2023, with a multi-year compound growth rate of about 20%; Its return on investment accounts for 15% of its total profits, which has become a regulator and an important means for CYPC to cope with the fluctuation of inflow from the Yangtze River, achieve stable performance growth and promote development.
In the main business of hydropower, through taking a large proportion of shares in high-quality power enterprises such as Hubei Energy, SDIC Power Holding, Chuantou Energy and Guiguan Electric Power, the Company has continuously improved its equity installed capacity, optimized its power supply structure, promoted the establishment of equity bonds with hydropower development entities in the upper reaches of the Yangtze River, actively promoted the joint dispatch of hydropower resources in the Yangtze River Basin and achieved simultaneous growth of benefits and scale.
The Company has always maintained credit ratings of domestic AAA, overseas Moody's A1 and Fitch A+ for many years, and passed the "Green Economy Mark" certification of the London Stock Exchange. In recent years, the Company has made continuous innovations in financing modes, and its financing varieties have covered the mainstream financing varieties in China's capital market; The Company has closely followed various regulatory innovation policies, and actively issued "epidemic prevention and control" themed bonds, green corporate bonds, sustainability-linked bonds and "Shanghai-London Stock Connect" Global Depository Receipts (GDRs).
In the future, CYPC will follow the guidance of its development plan, focus on its main responsibilities and businesses and strategic guidance, uphold the concepts of value investing and long-term investment, and strive to implement the reforms of state-owned enterprises and electricity market. The Company will actively seize opportunities in the capital market, steadily carry out foreign investment, make effective use of capital operation methods, continuously expand direct financing channels, constantly reduce financing costs and serve the development strategy of the Company.
