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FAQ Message |
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 Please outline the Company's major developments and management achievements in 2006. |
2006 was the ninth year since the Company's listing in 1997, and also a year of outstanding achievements in the Company's development history. During the Year, the Company made seven major strategic developments and operational management achievements as follows:
(1) Back to China with honour, the Company succeeded in its objective of returning to the domestic market for A share isting during the Year.
During the Year, the Company completed its domestic A share IPO with great success. 500 million new shares were issued at an offer price of RMB6.68 each, raising net proceeds of approximately RMB3.279 billion. Domestic investors reacted positively after the Company's A share issue, with the share price on the A share secondary market constantly staying over RMB10.
(2) The Wushashan Project in Zhejiang established a new milestone in Datang Power's management standards.
The Wushashan Project in Zhejiang was the first project for which the development right was acquired through participating in domestic tender invitations. The project sets a record in the domestic power industry for commencing four sets of supercritical generation units within a year. Besides, the actual construction period was one year ahead of the construction schedule undertaken in the tender, substantially reducing project costs and setting a new low in construction costs for domestic generation units.
(3) Success in hydropower operation.
During 2006, the first batch of hydropower projects located in Yunnan invested in by the Company ?§C the Lixianjiang River Hydropower Project and the Nalan Hydropower Project ?§C commenced operation. Total installed capacity in operation is 270 MW.
Apart from the Yunnan hydropower projects, a 5 x 350 MW hydropower project in Pengshui, Chongqing, will commence operation in 2007 and 2008 as well. The installed capacity of hydropower plants is anticipated to account for around 20% ?§C 25% of the Company's total installed capacity by 2015.
(4) Moving into nuclear power development.
The Company entered into an agreement with Guangdong Nuclear Power Investment Co. Ltd. in March 2006 for the joint investment and construction of the Ningde Nuclear Power Project. The project plans to build two 1,000 MW nuclear power generation units, involving a total estimated investment of approximately RMB24 billion. An approval reply was given by the National Development and Reform Commission in 2006 regarding the commencement of the project's preliminary preparations.
(5) Coal supply chain by railway transport further reinforced.
Ta Shan Coal Mine in Datong in which the Company invested and owned minority interests officially commenced operation in June 2006. The raw coal produced from the coal mine is directly supplied to the Company's power plants in the southeastern coastal areas. In December of the same year, Qiancao Railway, in which the Company invested and owned minority interests was completed and opened to traffic. The completion of the project will considerably relieve the pressure upon the Company when it comes to transporting coal to its power plants in the southeastern coastal areas and some power plants with direct access.
(6) A record high in single-year installed capacity commencement.
The Company's new generation units that commenced operation in 2006 amounted to 5,620 MW, up 40.7% over 2005. Year 2006 was, therefore, a year with the largest number of new generation units coming into operation since the Company's incorporation in 1994.
(7) Opening up a coal import channel.
The first batch of raw coal imported by the Company from Vietnam arrived at the power plants in the southeastern coastal areas at the end of 2006. The Company will utilise both the domestic and overseas markets in future to meet its coal demand, so as to reduce unit fuel costs.
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