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ANNUAL RESULTS 2009 20th April 2010 Hong Kong. 2009 Results Summary 2009 Market Environment Review 2009 Corporate Business Progress 2010 Corporate and.

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Presentation on theme: "ANNUAL RESULTS 2009 20th April 2010 Hong Kong. 2009 Results Summary 2009 Market Environment Review 2009 Corporate Business Progress 2010 Corporate and."— Presentation transcript:

1 ANNUAL RESULTS th April 2010 Hong Kong

2 2009 Results Summary 2009 Market Environment Review 2009 Corporate Business Progress 2010 Corporate and Market Outlook

3 3 Installed Capacity Utilization Hour Gross Generation Unit Coal Consumption Internal UsageEquivalent Availability Factor (MW) (%) (g/KWh)(Hour) (Billion KWh) 22.5% 8.9% % 1.5% Results Summary-Operation Data Source: Corporate Annual Report 2009

4 Results Summary-Operation Data Operating Revenue Basic EPS Net Profit Debt to Asset Ratio Net AssetsTotal Assets (Billion RMB) (%)(RMB/Share) (Billion RMB) 29.9% % 115.2% % Source: Corporate Annual Report 2009 (IFRS)

5 5 5 Cost Structure Analysis Notice: Due to the changes of other expenses changed in large scale, the column of others mainly reflects the S,G&A Source: Corporate Annual Report 2009 (IFRS) Cost Structure in 2009 Cost Structure in 2008 Restated) 2009 Operating Cost Breakdown YOY Changes

6 2009 Results Summary 2009 Market Environment Review 2009 Corporate Business Progress 2010 Corporate and Market Outlook

7 7 Coal Price Bottomed Out Spot Coal Price in Qinhuangdao Port RMB/Ton) Companys Average Standard Coal Price Changes in 2009 RMB/Ton Source: Corporate Information and Data BJ Spot Coal Price in Australia RMB/Ton)

8 8 On-grid tariffs in 2009 were raised mainly due to the tariff adjustments in 2H The tariff adjustments on 20th December 2009 were more for grid side, with marginal impact to the IPP side. Tariff Adjustment with Positive Effect Tariff Adjustment since 2008 (RMB/MWh) Datangs Average On-grid Tariff (RMB/MWh) Detailed Tariff Adjustments Affecting Datang ( ) Source: Corporate Information and Data Notice: Green part is for on-grid side and yellow part is for grid company side.

9 9 Power Demand Up with Rising Utilization Rate The nations power demand in 2009 demonstrated a strong rebound with a recovery of the domestic economy. Source: China Electricity Council National Monthly Power Generation YoY Growth

10 2009 Results Summary 2009 Market Environment Review 2009 Corporate Business Progress 2010 Corporate and Market Outlook

11 11 Power Capacity Raised Substantially In 2009, the company had 21 new generating units, with total capacity of 5645MW put into commercial operation and the generation capacity was raised substantially. Installed Capacity Growth in 2009 Source: Corporate Information and Data 14.5% 22.5%

12 12 Coal-fired Unit Fuel and Unit Structure Further Optimized Coal-fired Units Structure end of 2008 Units Below 300MWUnits of 300MW Units of 600MW Grade Capacity Structure end of 2007 Capacity Structure end of 2008 Capacity Structure end of 2009 Hydro power Unit Wind power Unit Coal-fired Units Structure end of 2009 Source: Corporate Information and Data

13 13 Utilization Rate Higher than National Average Average Utilization hours for All Units in 2009 In 2009, the Companys average utilization hours for coal-fired units achieved 5255 hours, 416 hours higher than the national average. Average Utilization hours for Coal-fired Units in 2009 Source: Corporate Information and Data

14 14 Material Progress in Merger and Acquisition In 2009, the Company has finalized the assets integration with China Datang Corporation in certain provinces, acquisition of Chongqing Yuneng Group and the restructuring of Xiduo Railway Corporation. Regional Power Assets Consolidation The company had finished acquiring Chongqing Yuneng group Raise the holding ratio of Pengshui, Yinpan and increased the installed capacity in Chongqing Assets Transfer with Parent Company Strategic Restructure of Rail Assets Accepted the parents assets in Inner Mongolia, Liaoning and Fujian provinces, and sold the assets in Shandong and overseas to the parent company. Expanded more room for development and raised the projects reserve and development potential Finished restructuring of Xiduo Railway Invested in railway in Inner Mongolia as a minority shareholder and assured the rail transportation for coal and chemical product Diversified the operational risks for rail assets Source: Corporate Information

15 15 New added quota of domestic banking facilities of 152billion RMB By the end of 2009, there was still 169billion RMB quota left Medium Term Notes Raised 3billion RMB 5 years term Coupon rate of 4.1% Raised 3billion RMB 10 years term Coupon rate of 5% Non-public Offering Corporate Bonds Banking Facilities The A share non- public offering was finalized before March 2010 and raised 3.248billion RMB with 530million new shares issued Effectively lower the debt ratio Corporate Finance with Multiple Instruments Source: Corporate Information and Data

16 16 Shipping Project Railway Project Coal Mine Project Shengli East Unit 2 Coal Mine produced 5.05million tons of coal Tashan Coal Mine produced 17 million tons of coal Yuzhou Coal Mine produced 6.45 million tons of coal The railway under construction by the Company as a minority shareholder is about 3000 km The railway in operation in which the company has minority shares transported about 70 million tons of cargo in 2009 Datang No. 2 Vessel was put into operation The self sufficient seaborne coal reached 2.63million tons in 2009 The Company has three vessels in operation by now Coal Self-sufficient Ratio Length of Rails under Construction KM Seaborne Coal Self- sufficient Ratio Non-power Business Progressed Smoothly Coal- Chemical Project Three among seven sections finalized proliferation in Duolun coal-to-PP project in 2009 As the first similar project being approved by the State, Keqi Coal based Natural Gas Project started construction Source: Corporate Information and Data

17 17 Emissions Reduction with Good Results Notice: The blue line represent the average emission rate of the five big power generation groups in China Since 2005, the Company has devoted more resources on environmental protection. The emission indicators of major pollutants had been improved year-on- year and are now far better than the national and industrial average standards. SO 2 Emission per KWh (g/KWh) NO X Emission per KWh (g/KWh) Ash Emission per KWh (g/KWh) Waste Water Emission per KWh (g/KWh) Source: Corporate Information and Data

18 2009 Results Summary 2009 Market Environment Review 2009 Corporate Business Progress 2010 Corporate and Market Outlook

19 19 Power Generation Business Heading up In 2010, the Company plans to add over 6000MW new operating capacity so as to improve the core power generation business. Expected Capacity Structure by the end of 2010 Expected Installed Capacity by the end of 2010 Source: Corporate Information and Data

20 20 More Breakthrough in Non-power Business Acquired the 70% stakes in the Inner Mongolia Baoli Coal Mine and gained 3 million tons of thermal coal production capacity Phase one of Shengli East Unit 2 Coal Mine plans to produce 10 million tons of coal Tashan Coal Mine plans to produce 20 million tons of coal Yuzhou Coal Mine plans to produce 7 million tons of coal Wujianfang and Kongduigou Coal Mines aimed to move forward in preliminary works In 2010 Duolun coal-to-PP project will finalize the proliferation of all sections, breaking through all the technical procedures and produce the end product Keqi Coal-based Natural Gas Project will finalize the target in construction Fuxin Coal-based Natural Gas Project was approved by the NDRC and started construction The Tanggang Railway plans to achieve 100 millions tons of cargo volumn in 2010 The projects under construction of Xiduo Railway Company progress smoothly The Baozhang Railway, Baxin Railway and Chijin Railway under construction will achieve more progress In 2010, the company will make important progress and breakthrough in coal mines, coal-chemicals, railway and other non-power businesses. Source: Corporate Information and Data

21 21 Challenges & Opportunities for Power Sector Power supply and demand roughly balanced The national power demand in 2010 is expected to grow 9% Newly commenced capacity is 85GW and 10GW of small coal- fired units will be closed and the growth in capacity is 8% Nation wide average utilization hours is about 4500, equal to or lower than that of 2009 Coal supply and demand balanced with higher coal prices Coal output was controlled due to local sector consolidation Demand for coal will rebound with Macro-economys recovery Railway and seaborne capabilities raised and transportation will be de-bottlenecked More urgent to reform the tariff pricing mechanism Tariff adjustments are far lagging behind coal price increases since 2006 It is more urgent to rationalize the on-grid tariff to reflect the fuel cost changes for the IPPs National Power Demand and Installed Capacity Growth in National Industrial Value Added in Comparison Source: China State Statistics Bureau, NDRC and China Electricity Council

22 Laying Foundation for New Strategy Management Quality Consistently Raised Whole Year Target Fulfilled Power Business in Safe Operation Duolun Coal- chemical Commenced Stage One Target Fulfilled 2010 is a crucial year for the Companys development. Faced with the challenges and opportunities, the Company will go on roll over the new strategy and manage to become a competitive conglomerate energy provider as early as possible. Source: Corporate Information

23 Thanks!


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