CPID Releases 2021 Half-Year Results
On August 20, 2021, CPID held the 2021 half-year results release conference. Mr. He Xi, Chairman of CPID, chaired the meeting and delivered a speech. Mr. Shou Rufeng, Vice President, and Mr. Xu Ji, Deputy Chief Accountant, attended the meeting. Considering the situation of COVID-19 pandemic, the meeting was held through a conference call.
Mr. He Xi said in his speech that the year 2021 was the first year of China's 14th "Five-Year Plan", and also the beginning year of CPID's strategic transition. In the first half of the year, CPID achieved good results in operations, development, reform, and innovation. First, the operating performance saw a strong growth, despite the significant headwinds. The profit attributable to the equity holders was RMB 1.372 billion, a year-on-year increase of 16.98%, and the clean energy penetration and profit continued to rise. Second, clean energy development was sped up as CPID gave top priority to it, with an aim to achieve all-round development. As at the end of June, the share of clean energy installed capacity reached 47.1%, a 3.12% increase compared to that of the end of year 2020. Third, CPID continued to take the lead in developing green energy. In particular, it vigorously developed green electric transportation and energy storage, and combined integrated smart energy with rural market development. Fourth, more efforts were made in innovations and risk control. CPID continued to delegate authority in order to stimulate vigor, while strengthened risk prevention and control.
Mr. He Xi expected a promising future of CPID. Mr. He said that in today's world, one either forges ahead or gradually falls behind. CPID would continue to accelerate its energy transition and green development to keep abreast with the times, tap potential and improve production and operation benefits, and deepen reforms. Mr. He also introduced the future priorities of CPID: (1) Developing new strategies of CPID, covering the strategic objectives in the middle and long term, implementation paths, roadmap for "3060" carbon targets, and ESG planning. (2) Adjusting the positioning of CPID in capital market, with the goal of being the first listed company in Hong Kong to achieve low carbon transition. (3) Exploring new green industries to find new growth drivers including smart energy storage, green electric transportation, high-end maintenance, etc. (4) Achieving operating performance balance among different types of power sources on the basis of high-quality development, ensuring production safety, and tapping potential to maximize benefits. (5) Building new mechanisms on the basis of deepening reform to stimulate vigor and effectively speed up transition and development.
More than 100 investors joined the meeting, including BOCI, Huatai Securities, J.P.Morgan, Changjiang Securities, CICC, and CITIC Securities, and communicated with the management on clean transition, development in counties and towns, energy storage, carbon emission right trading, "2 prices and 1 volume", and other issues related to the electric power industry. The management answered the questions proposed by investors carefully, presented the correct guidance for this year's key performance indicators, communicated with the investors on the relevant policies, and restated CPID's determination to develop new strategies, explore new industries, and create more values.