SDIC Power Holdings Co., LTD.

Announcement on Predicted Performance Increase in 2022

Highlights:

1. According to the preliminary calculation of the Financial Department of SDIC Power Holdings Co., LTD. (hereinafter referred to as "the Company"), the net profits attributable to shareholders of listed companies are predicted to range from RMB 3.65 billion to 4.35 billion in 2022, with a year-on-year increase of RMB 1.213 billion to 1.913 billion and a year-on-year increase rate of 49.78% to 78.51% compared with the same period of the previous year before retroactive adjustment (the statutory disclosure data in 2021). Compared with the retroactive adjusted data of the same period last year, it will increase by RMB 1.194 billion to RMB 1.894 billion, with a year-on-year increase of 48.63% to 77.13%.

2. It is predicted that the Company's net profits attributable to shareholders of listed companies after deducting non-recurring gain or loss in 2022 will be RMB 3.5 billion to 4.2 billion, with a year-on-year increase of RMB 1.329 billion to 2.029 billion and a year-on-year increase rate of 61.23% to 93.48% compared with the same period of the previous year before retroactive adjustment (the statutory disclosure data in 2021). Compared with the retroactive adjusted data of the same period last year, it will increase by RMB 1.31 billion to RMB 2.01 billion, with a year-on-year increase of 59.84% to 91.81%.

I. Performance pre-announcement for the current period

(1) Performance pre-announcement period

From January 1, 2022 to December 31, 2022.

(2) Performance pre-announcement

1. According to the preliminary calculation of the Financial Department, the net profits attributable to shareholders of listed companies are predicted to range from RMB 3.65 billion to 4.35 billion in 2022, with a year-on-year increase of RMB 1.213 billion to 1.913 billion and a year-on-year increase rate of 49.78% to 78.51% compared with the same period of the previous year before retroactive adjustment (the statutory disclosure data in 2021). Compared with the retroactive adjusted data of the same period last year, it will increase by RMB 1.194 billion to RMB 1.894 billion, with a year-on-year increase of 48.63% to 77.13%.

2. It is predicted that the Company's net profits attributable to shareholders of listed companies after deducting non-recurring gain or loss in 2022 will be RMB 3.5 billion to 4.2 billion, with a year-on-year increase of RMB 1.329 billion to 2.029 billion and a year-on-year increase rate of 61.23% to 93.48% compared with the same period of the previous year before retroactive adjustment (the statutory disclosure data in 2021). Compared with the retroactive adjusted data of the same period last year, it will increase by RMB 1.31 billion to RMB 2.01 billion, with a year-on-year increase of 59.84% to 91.81%.

---(3) This performance forecast has not been audited.

II. Performance in the same period of last year

(1) Net profits attributable to shareholders of listed companies before retroactive adjustment (the statutory disclosure data in 2021): RMB 2.437 billion. Net profits attributable to shareholders of listed companies after deducting non-recurring gain or loss: RMB 2.171 billion. Earnings per share: RMB 0. 3202.

(2) Net profits attributable to shareholders of listed companies after retroactive adjustment: RMB 2.456 billion. Net profits attributable to shareholders of listed companies after deducting non-recurring gain or loss: RMB 2.19 billion. Earnings per share: RMB 0. 3229.

III. Main causes of predicted performance increase in the current period

The company's operating performance in the current period has increased significantly over the same period of last year, mainly due to the income growth brought by the year-on-year increase of the net electricity generated and the on-grid tariff.

IV. Risk warning

There is no major uncertainty of the Company that may affect the accuracy of the performance pre-announcement.

V. Miscellaneous

The above pre-announcement data is only preliminary accounting data. For specific and accurate financial data, please refer to the audited annual report of 2022 to be officially disclosed by the Company. Investors are advised to consider the investment risks.

It is hereby announced.

Board of Directors of SDIC Power Holdings Co., LTD.

January 13, 2023