Press

Corporate News

Location:Home > Press > News
SPIC Made RMB 8.76 Billion of Net Profit in 2016
Source:Writer:Date:19/01/2017
State Power Investment Corporation (SPIC) made a gross profit of RMB 13.21 billion and a net profit of RMB 8.76 billion in 2016 attributable to its advantages in energy and industrial structure, and such business performance turns SPIC ahead of its counterparts.
SPIC Annual Meeting 2017 took place on January 16, 2017 in Beijing, which revealed an achievements report covering the entire year of 2016 for the first time after merger and reorganization of SPIC.
Profit generated by the whole thermal power industry experienced a sharp drop in 2016 due to decline in electricity prices and rise in coal prices; however SPIC successfully increased its profits which were mainly attributable to its considerable percentage of clean energy. In 2016, SPIC placed 65% of its total investments in nuclear power and new energy, completed 4.27 GW of newly-installed capacity of new energy, turned itself rank the first among the top five power generation groups.
The high-profile projects for the AP1000 reactor: Sanmen Unit 1 and two of Haiyang Unit 1 have successfully completed cold and hot tests, which, as the world’s first reactors, proceed to the final tests before fuel load; Hongyanhe NPP Phase I Project has been also completed. 
By the end of 2016, total installed capacity of SPIC has been up to 117 GW, 42.9% of which goes to clean energy, and PV installed capacity ranked the first worldwide. The generating capacity in 2016 reached up to 396.6 TW, with an increase of 4.24%, while the coal consumption per KWH fell 2.6 grams.
In 2016, SPIC proactively advanced supply-side structural reform and disposed “zombie companies” and 12 financially troubled companies having total assets of RMB 886.1 billion, bringing further improvements to quality operation. In 2017, SPIC will focus on implementation of two major special projects: advanced large-scale pressurized water reactor and heavy gas turbine, drive breakthroughs in major projects and expand its transnational business landscape.
Appendixes: