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2014 Working Conference Held in Shanghai Electric Power (SEP)

On January 28, 2014, Shanghai Electric Power held 2014 working conference that publicized and implemented the 2014 working spirit from CPI while conscientiously summarized the progresses made in 2013 and set up 2014 working plans.

In 2013, SEP focused on "growth effectively in quality and efficiency, breakthrough progresses in reform and development ", the company overcame the disadvantages in plenty outside power supply, gas price grow up, coal tariff reduction and other unfavorable factors, while completing assigned tasks through strengthened management, cost control and profit oriented strategy. The past 2013 realized 400 days of zero accident safety production. According to SEP performance express, the company achieved a total profit of 2.0966 billion Yuan, year-on-year increased 54.23% with 737 million Yuan. The net profit attributable to parent company was 1.181 billion Yuan, year-on-year increased 296 million Yuan and earnings per share was 0.552 Yuan, year-on-year increased 0.138 Yuan/share. The net profit attributable to the parent company and earnings per share year-on-year increased 33.41%. CPI East China Branch (including Hexi) earned a total profit of 1.115 billion Yuan, year-on-year increased 44.45%.

Tianji Power Plant No.3 unit started on-grid power generation 5 months in advance. According to the multi-pollutant control technology collaborative route, SEP started environmental transformation in all its existing power plants. The projects in Japan, Turkey, Tanzania and Indonesia have made breakthrough progresses, which have became a solid foundation to realize the target of reconstruction another SEP in abroad before 2020. In 2013, SEP won the awards of national Labor Medal and Shanghai Civilized Unit, and was recognized as the 2012 National Green Economy Advanced Unit and Shanghai 'Eleventh Five-Year' collective energy saving model. The company’s QHSE system construction gained DNV certification and won the Deloitte China Risk Intelligence overall control prize and annual risk management practices award. Caojing Power Plant, Caojing Cogeneration Co., Ltd and Waigaoqiao Power Plant were named as the most beautiful power plants in China.

In 2014, there are more economic uncertainties: East China region is the national economic low growth area and also mainly depends on outside hydro and electric power. A significant increase in power supply outside Shanghai has influenced the local electric market. To solve the problems in profits decrease in existing power plants, costs increase and development difficulties, SEP determined 2014 working plans: implement CPI's 2014 work plans, in-depth understand the Third Plenary Session of the 18th CPC Central Committee, further consolidate our achievements, continuous deepen reform and innovation. According to CPI’s overall requirement of "steady growth, adjust construction, focus on reform, strong management, change working style and promote development", and adhere to the principle of "grasp development opportunities, increase profitability and promote harmony ". SEP will stick to problem solving, management improvement deal with relation between energy developing projects and overseas development to further implement FOUR steps developing system. The company will spare no effort to change the growth mode; seize the opportunity to promote structural adjustment; improve the quality of promoting the transformation; and build a responsible company image. The Company also made detailed plan for 2014: have a overall viewpoint to the whole situation, aim to build a world-class energy company and improve the quality of transformation; focus on profitability and aim to forge another SEP abroad and establish a responsible company image.


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