Address by Manager

The year of 2016 is the first year of the "13th Five-year Plan" as well as an extraordinary year in development history of the company. Under the circumstance of continuous promotion of electric power system reform and sharp contradiction between supply and demand in the power system, the company faced the difficulty and realized further growth and development in 2016. As of December 31, 2016, the company's installed capacity reached 45,495 MW and total amount of assets valued at RMB 298.895 billion. In 2016, the company generated electric power of 206.06 TWh and realized operating income as much as RMB 48.939 billion and net profit attributable to shareholders of the listed company as much as RMB 20.781 billion, with EPS at RMB 0.9446.

Firstly, major assets restructuring in Jinshajiang River basin was satisfactorily completed this year. The company's market value, assets, installed capacity and profit, etc., experienced great growth, the business scale and benefits realized leaping development, and the assets quality and installed capacity of the company kept ahead in international hydropower industry. In domestic capital market, the company took the lead in promising cash bonus in a high proportion in future 10 years which sets up an example of value investment. Secondly, power generation was kept in good condition. Accumulative power generation of four cascaded hydropower plants owned by the company exceeded 200 TWh in a whole year. Cascaded reservoirs group, through information sharing platform and joint optimal operation, leveraged comprehensive utilization rate of hydroenergy to the largest extent, and remarkably gave play to comprehensive benefits of cascaded hydropower plants in joint and uniform operation of flood control, power generation, navigation and ecology. Three Gorges Hydropower Plant (TGHPP) has accumulatively generated electric power in excess of 1,000 TWh and hence become China's first hydropower plant with safe, stable and efficient operation in 14 consecutive years. Thirdly, power distribution and sales business made progress. This is a significant strategy layout made in response to electric power system reform, full creation of an industrial chain consisting of "power generation, distribution and sales" and development of new growth points and supporting to the company's hydropower consumption business. Fourthly, international business was stably promoted. The company successfully issued dual-currency zero-coupon bonds equivalent to USD 300 million and Euro 200 million, obtained 30% of equity of Germany Meerwind Offshore Wind Farm Project and realized direct investment and financing in overseas capital market for the first time.

The year of 2017 is an important year for the company's full implementation of "the 13th Five-year Plan" as well as a year of deepening the structural reform on national supply side. Electric power system reform develops in both depth and breadth, and international and domestic economic situations become complicated, thus opportunities and challenges co-exist. The company will continuously stick to the vision of "becoming a leader in world hydropower industry" and the general keynote of making progress while maintaining stability, be market oriented, deem reform and development as driving force, serve national strategy as a mission and development plan during the period of "the 13th Five-year Plan" as the main line, and make an overall arrangement about production, operation, reform and development. In addition, the company will improve power generation mode of cascaded hydropower plant group in the basin, and consolidate four-reservoir joint operation to continuously improve lean production level. We will accelerate building an inherently safe enterprise to continuously lay a solid foundation for work safety, and will actively participate in electric power system reform to construct a long-term pattern in response to fierce competition in the power market. CYPC will elaborately conduct capital operation and promote emerging business development so as to continuously improve the company's core competence, realize the company's sustainable development, provide the society with clean energy and create satisfactory return for shareholders.

Lu Chun

April 29, 2017


Credit Rating

In 2015, Fitch Ratings maintained CYPC's rating results of "A+/ stable outlook" ... ...


Domestic Business

CYPC has four large hydropower stations include Three Gorges, Gezhouba, Xiluodu... ...


International Business

During the "13th Five-Year Plan" period, CYPC will continue to operate and manage more.... ...



"Lean-Responsibility" Culture is the core of CYPC's enterprise Culture systerm... ...


Temporary Announcement

Financial information temporary change announcement of CYPC... ...


The Three Gorges Project

The Three Gorges Hydropower Station is the largest completed hydropower station... ...


Dividend Distribution

cash bonus shall be distributed once every year, The condition for... ...