CNE Releases the 2016 Annual Results


        The Group has actively adjusted its business mode, increased the proportion of Completion - Salesbusiness, and reduced the scale of EPC business.

        Power generation output continues to grow at a high rate, and the power generation output attributable to the Group rises by 32.7% compared with last year.

        The Group's wholly-owned company, Concord Wind Power Investment Co. Ltd., has successfully registered Green Note in National Association of Financial Market Institutional Investors (NAFMII), and becomes the first single non-financial enterprise green bond in domestic market.

        Create a cloud O&M mode, and research and develop a big data O&M platform systemPower+ with independent intellectual property rights.

Financing Summary

The year ends up to December 31

Year of 2016

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Year of 2015

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Profit before income tax




Profit attributable to owners of the Company




Basic earnings per share

(RMB cents)




On March 8, 2017, Concord New Energy Group Limited announced its annual results for the year ended on December 31, 2016 in Hong Kong.

In 2016, the Group realizes the income of RMB 1,785,166,000 (2015: RMB 3,478,562,000); attributable profit of the Group's equity holders is RMB 457,815,000 (2015: RMB 408,090,000), up 12.18% compared with last year in the same period; the basic profit per share is RMB 5.32 cents (2015: RMB 4.6 cents), up 15.65% compared with the last year in the same period; the fully diluted earnings are RMB 5.30 cents (2015: RMB 4.6 cents).

This year, the Group's profit from the power generation business plate has significantly improved.   In order to adapt to the changes in the industrial environment, the Group has actively adjusted its business mode, increased the proportion of Completion - Salesbusiness, reduced the scale of EPC business, made the income and profit of EPC plate fall sharply, and the Group's comprehensive income also has declined greatly, while the project transfer income has a significant increase. The Group continues to have a growth in overall profit.

Power Plant Investment and Development Operations

Power generation output continues to maintain a rapid growth during the year, and power plant benefits continue to increase significantly. In 2016, the Group has a right generated energy of 2,077,800,000 kWh, up 32.7% compared to last year. The plant that holds the Group's investment equity has a total generated energy of 3,722,350,000 kWh, increasing by 22.12% compared to last year. This year, the Group's holding power plants achieve a total generated energy income of RMB 674,032,000 (2015: RMB 434,501,000); the Group shares a net profit from joint venture companies and the cooperative enterprises of RMB 92,811,000 (2015: RMB 69,074,000).

This year, the Group's power plant sees a stable growth in installed capacity; the Group has a total of 9 new wind power and solar power plants put into operation, with a total installed capacity of 470MW (2015: 365MW), and right power installed capacity of 446MW (2015: 291MW), of which, 8 wind power plants have an installed capacity of 420MW, and right installed capacity of 396MW; 1 solely-invested solar power plant, has an installed capacity of 50MW.

The early development of the Group is dominated by the non-rationing area, with abundant resources. According to the2016 National Wind Power Development Programissued by the National Energy Administration of China in 2016 and this year, the Group has 11 wind power projects (728MW) in total enrolled into the list of construction programs, and all located in the areas that have sound power grid access conditions and are not electricity-rationed. This year, the Group has a new signing of wind resources 2, 850MW, and a new signing of solar energy resources 500MW. By the end of this year, the Group has a reserve of wind power resources of more than 28GW, and a reserve of optical resources of 8GW, which have provided a guarantee for the Group's sustainable development.

In 2016, the Group sees a credit enhancement in financial system; the Group's wholly-owned company, Concord Wind Power Investment Co. Ltd. (hereinafter referred toCWP) has successfully registered RMB 0.5 billion Green Note in National Association of Financial Market Institutional Investors (NAFMII), becoming the first single non-financial enterprise green bonds in domestic market. At the end of the year,CWPhas been approved by CSRC and Shanghai Stock Exchange to issue a total of RMB 1 billion  of green bonds, which will be issued according to market conditions.

Renewable Energy Service Plate

In 2016, the Group undertakes 22 (990MW) (2015: 998MW) external and internal EPC projects in total. As a result of the change of the management strategy, the Group will transfer partial external EPC projects into Group investment construction, after the completion, these projects will be sold when the opportunity is mature (Completion - Salebusiness mode); this year, the Group's internal projects increases and external projects decreases.

This year, the Group's design company has submitted to National Equities Exchange and Quotations Co., Ltd. the application for the listing and public transfer of shares in the National Equities Exchange and Quotations (new three board). The Group has been approved by the Stock Exchange of Hong Kong Limited (hereinafter referred to SEHK )  for potential listings under Article15 Guidelines on the application of securities listing rules.

Operation and maintenance (O&M) of the power plant are the focus business areas of the Group's development, the Group uses big data, cloud computing, Internet of Things, Internet and other information technology means, and actively creates a cloud O&M mode, and researches and develops a big data O&M platform system Power+with independent intellectual property rights, to provide customers with personalized, accurate operation and maintenance services. Power+ cloud platform combines big data with artificial intelligence to build a new renewable energy power station operation & maintenance mode. In the Group's internal trial period, good economic benefits have been achieved, and external market will be futher pushed forward in the future.

Looking ahead, Mr. Yu Weizhou, executive director and CEO of Concord New Energy Group Limited, says that: In recent years, with the implementation of a series of measures such as the Group's southward development, solar power development and optimization of asset structure, etc., the Group's holding power plants continue to increase and the proportion of generating business keeps increasing. The Group will also adjust the operating strategy to achieve the maximization of shareholder's benefit and social benefit according to the change of macroscopic situation.

In view of the impact and opportunities brought about by the electric power system reform, the Group responds actively, on the one hand, the Group seeks for business opportunities in the sale of electricity and distribution network construction, on the other hand, the Group tries to lower the unit cost of power generation, so as to usher in the era of power net bidding and grid parity of renewable energies. In 2017, the Group will continue to implement the following operational measures: reserveing resources, to maintain the core competitiveness of project development; building safe production, to increase the profitability of electricity generation; continue to vigorously develop light asset service plates; and try to reduce the cost of electricity generation, to have a batch of plants with low generating cost.