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SPIC Made RMB 8.76 Billion of Net Profit in 2016
Source:Writer:Date:07/04/2017
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 among its counterparts.
SPIC Annual Meeting 2017, taking place on January 16, 2017 in Beijing, revealed the first achievements report covering the entire year of 2016 after the merger and restructuring 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 accounted for 65% of its total investments in nuclear power and new energy, with 4.27 MW of newly-installed capacity of new energy completed, turning itself to rank first among the top five power generation groups.

The high-profile projects for the AP1000 reactor: Sanmen Unit 1 and two 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 also been completed. 

By the end of 2016, the total installed capacity of SPIC has been up to 117 MW, 42.9% of which goes to clean energy, and PV installed capacity ranked first worldwide. The generating capacity in 2016 reached up to 396.9 billion kwh, 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 dealed with “zombie companies” and 12 financially troubled companies with 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, facilitate breakthroughs in major projects and expand its transnational business.
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