GED(SZ:000539)2022-12-07 00:02Group 1: Power Reform Overview - The company views the "Document No. 9" from the National Development and Reform Commission (NDRC) as a significant step in the comprehensive implementation of power system reforms initiated in 2015 [2] - The reform aims to establish a sound power market system, focusing on "three releases, one independence, and three strengthening" [2] - The company plans to actively participate in the reform process, adapt to market competition, and reduce generation costs [2] Group 2: Market Dynamics and Projections - In 2016, the planned electricity volume for the company is 43.896 billion kWh, with expected direct trading volumes of 8.162 billion kWh and competitive bidding shares of 4.161 billion kWh, indicating that direct trading is projected to account for over 20% of total electricity volume [3] - The company has established a wholly-owned subsidiary, Guangdong Yuedian Power Sales Co., Ltd., with a registered capital of 500 million yuan, to engage in direct trading for large users [3] - The company anticipates that the new market pricing will take time to stabilize due to ongoing changes in trading rules and market conditions [3] Group 3: Capacity and Utilization Expectations - As of mid-2016, the company has a controllable installed capacity of approximately 20 million kW, with an equity capacity of about 16 million kW [3] - The company plans to enhance its clean energy portfolio, including wind, hydro, and gas power projects, while optimizing coal power projects [3] - The average utilization hours for coal-fired units in 2015 were 4,068 hours, a decrease of 457 hours year-on-year, with expectations of continued decline in 2016 [3] Group 4: Response to Challenges - The company is developing its 13th Five-Year Plan, which will consider the impacts of power system reforms and the changing economic landscape [4] - The strategy aims to adapt to market reforms and focus on innovation, green development, and sustainability [4]