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CYPC Holds Performance Briefing for Q3 of 2024
Release time:2024-11-05

On the morning of November 1, 2024, CYPC held the?performance briefing for the third quarter of 2024 in Beijing, Wuhan, and Yichang respectively,?in the form of "onsite interactions + live video". The meeting attracted over 200 institutional and individual investors from home and abroad. The company's CFO ZHAN Pingyuan, Board Secretary XUE Ning, as well as heads from other relevant units and departments, also attended the meeting.

At the meeting, ZHAN Pingyuan expressed his gratitude to investors for their long-term attention and support on behalf of the company?and also provided a detailed overview of the company's operating performance and progress of key work for the first three quarters of 2024, as well as the work measures for Quarter 4. In the first three quarters, CYPC?insisted on the underlying principle of pursuing progress while ensuring stability, and coordinated efforts in flood control, work safety, reform and development, and other main tasks. The company has maintained an overall stable operational status, and?has?advanced its key tasks in an orderly manner with significant achievements delivered. Notably, the cascade hydropower plants generated power of 235,814?GWh, with a 15.97% year-on-year increase, fully leveraging their primary roles in flood control and energy supply. The company's total profits has?reached RMB 33.13 billion, marking a 30.19% year-on-year growth. Net?profit has?stood at RMB 28.378 billion, showing a year-on-year growth of 29.58%, both setting a new historical high for the period. By the end of Quarter?3, the company's market capitalization has?reached a peak of RMB 769.3 billion, maintaining its top position among A-share listed electric companies and ranking second among globally listed electric companies.

In the interactive Q&A session, CYPC's management addressed the concerns from key investors, including optimal operation of cascade reservoirs, investments in technological innovation and R&D, market-based transactions, international business development, and cash dividend expectations, which further strengthened investors' recognition of the company's value.

In Quarter?4, CYPC will consistently reinforce work safety measures?and make coordinated efforts to guarantee water storage and power generation,?with a focus on its annual operational and production targets, leveraging its role as a ballast and?stabilizer to deliver sustained and stable returns for shareholders and provide reliable clean energy to society.

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