2022-12-04 09:38Group 1: Operational Performance - In the first half of 2020, the company's electricity generation reached 90.349 billion kWh, an increase of 13.00% compared to the same period last year [2][3] - By June 30, 2020, the company successfully completed six major overhauls as planned [3] Group 2: Pricing and Market Conditions - The average tax-inclusive electricity price in the first half of 2020 was slightly lower than last year due to a VAT rate reduction from 16% to 13% and an average discount of 4.7 cents on 83% of market transactions in Guangdong [3][4] - The overall market price for electricity will depend on the full year's performance [3] Group 3: Tax Refunds and Financial Management - The company's VAT refunds are processed on a cash basis, and the delays experienced in the first quarter were due to the impact of the COVID-19 pandemic on local fiscal revenues [4] - Since April 2020, VAT refunds have been processed normally, and the company will continue to communicate with local governments to ensure timely refunds [4] Group 4: Hydropower and Electricity Supply - Increased rainfall and hydropower from the West-East Electricity Transmission project have minimal impact on the company's electricity generation plans, which are typically arranged in advance [4][5] - The company has planned for maintenance during the National Day and Mid-Autumn Festival periods to minimize generation losses due to lower electricity demand [5] Group 5: Project Development and Technology - The AP1000 technology route for the Lufeng Phase I project will remain unchanged, with significant preliminary work already completed [5]