SDIC Power Holdings Co., LTD.

Announcement on Predicted Performance Increase in 2023

Important notes:

1. The current performance pre-announcement is applicable when profits are realized and net profit increases by more than 50% compared to that of the same period last year.

2. According to the preliminary calculation of the Financial Department of SDIC Power Holdings Co., LTD. (hereinafter referred to as "the Company"), it is estimated that the net profit attributable to owners of the parent company will be RMB 5.723 billion to RMB 6.86 billion in 2023, and the net profit attributable to owners of the parent company after deducting non-recurring gain or loss will be RMB 5.705 billion to RMB 6.842 billion.

I. Performance pre-announcement for the current period

(1) Performance pre-announcement period

From January 1, 2023 to December 31, 2023.

(2) Performance pre-announcement

According to the preliminary calculation of the Financial Department of the Company, it is estimated that the net profit attributable to owners of the parent company will be RMB 5.723 billion to RMB 6.86 billion in 2023. This represents an increase of RMB 1.644 billion to RMB 2.781 billion compared to that of the same period last year before retroactive adjustment (statutory disclosure data in 2022), indicating a year-on-year increase of 40.29% to 68.16%. Compared to the data of the same period last year after retroactive adjustment, it represents an increase of RMB 1.645 billion to RMB 2.782 billion, indicating a year-on-year increase of 40.35% to 68.24%.

It is estimated that the net profit attributable to owners of the parent company after deducting non-recurring gain or loss will be RMB 5.705 billion to RMB 6.842 billion in 2023. This represents an increase of RMB 1.754 billion to RMB 2.891 billion compared to that of the same period last year before retroactive adjustment (statutory disclosure data in 2022), indicating a year-on-year increase of 44.42% to 73.20%. Compared to the data of the same period last year after retroactive adjustment, it represents an increase of RMB 1.756 billion to RMB 2.893 billion, indicating a year-on-year increase of 44.48% to 73.28%.

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

    II. Performance in the same period of last year

(1) The net profit attributable to the owners of the parent company is RMB 4.079 billion, and the net profit attributable to owners of the parent company after deducting non-recurring gain or loss is RMB 3.950 billion.

(2) Earnings per share: RMB 0.5213.

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

During the reporting period, the Company's electricity volume and other products increased year-on-year, and electricity sales revenue increased. Meanwhile, the production costs of the thermal power enterprises under the company were controlled due to the low coal price, which contributed greatly to the profit.

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 2023 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 12, 2024