GD Power’s 2020 Profit Exceeds 10.4 Billion Yuan

The 2020 annual financial report released by GD Power Development Co., Ltd., a subsidiary of China Energy, on April 20 showed that the company earned profits totaling 10.42 billion yuan last year, an increase of 46.19% year-on-year, of which the net profits attributable to shareholders of the listed company exceeded 2.51 billion yuan, up by 57.66% from the previous year. It also indicated that the company achieved business revenues surpassing 116.42 billion yuan in 2020.

The Haizijing photovoltaic power station of Ningxia New Energy Co., Ltd.

In 2020, facing the severe changes brought by the COVID-19 outbreak, GD Power took coordinated measures to push forward epidemic prevention and control and all major work, achieving remarkable results in business operation and reform. The electricity amounts generated and transferred to the grid by its wholly-funded and controlled power plants saw a year-on-year increase of 3% and 3.11%, respectively. Meanwhile, the company’s heating supply increased by 7.28% year-on-year, and its average use time of power-generating equipment was 604 hours higher than the national average.

To achieve the goals of carbon peaking and carbon neutralization, GD Power has quickened its pace in new energy development. It adheres to coordinated development of base projects, conventional energy projects and distributed projects, ensures independent development and rational acquisition move forward side by side, and takes active actions to push forward the construction of the Erdos integrated energy base and the renewable energy and hydrogen energy high-tech demonstration project. The conventional energy enterprises under GD Power give full play to their regional influence and carry forward the “industry + new energy” development pattern. GD Power has also taken active actions to develop large-scale offshore wind power projects and promote the development of the new energy industry, so as to constantly optimize its industrial layout.