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Annual Report 2020 3 General Manager’S Statement

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Annual Report 2020 3 General Manager’S Statement Contents Human Resources 154 Chairman’s Statement 2 Independent Auditor’s Report 156 General Manager’s Statement 4 Consolidated Statement of Profit or Loss 162 Company Profile 6 Consolidated Statement of 163 Key Operating and Financial Data 8 Comprehensive Income Financial Highlights 10 Consolidated Statement of Financial 164 Management Discussion and Analysis 12 Position Major Events in 2020 33 Consolidated Statement of Changes in 166 Report of the Board of Directors 34 Equity Corporate Governance Report 65 Consolidated Statement of Cash Flows 168 Report of the Supervisory Committee 88 Notes to Financial Statements 171 Environmental, Social and Governance 91 Glossary of Terms 310 Report Corporate Information 314 Investor Relations 144 Profile of Directors, Supervisors and 145 Senior Management Chairman’s Statement Dear shareholders, The year 2020 was the closing year for completing the building of a moderately prosperous society in all respects and the “13th Five-Year” Plan. The Company deeply implemented the energy security strategy of “Four Revolutions and One Cooperation” and implemented the new development concepts featuring innovation, coordination, green, opening up and sharing. Adhering to the principle of giving top priority to the interests of our shareholders, the Board carried out its work in a proactive, lawful and compliant manner, and led the management and the staff of the Company to insist on high-quality development, focus on operation and management, and strengthen core capabilities for constantly overcoming new challenges, which enabled the Company to embark on a new journey to build a world-class new energy enterprise. In 2020, the Company achieved remarkable results in pandemic prevention and control as well as operation and development, with its installed capacity exceeding 10 million kilowatts, the equipment reliability remaining industry-leading and the operating results reaching new heights, which further enhanced the Company’s profitability, competitiveness, sustainable development capacity and market image. 2 China Datang Corporation Renewable Power Co., Limited Chairman’s Statement (Continued) The year 2021 marks the opening year for the implementation of the “14th Five-Year” Development Plan, and it is also the first year for Datang Corporation to “start the second entrepreneurship”. With the aim to build itself into a globally competitive and world-class clean energy supplier, the Board of the Company will continue to keep abreast of industry policies and market trends, adhere to strategic leadership with the efficiency as priority, accelerate the optimization of asset allocation, speed up the energy technology innovation, deeply explore the development potential, achieve new enhancements in asset structure, technology innovation and operational management, and steadfastly promote the high-quality development of the Company in the direction of scale, technology and intensification to create long-term, stable and growing returns for our shareholders. Last but not the least, on behalf of the Board, I would like to express our heartfelt gratitude to our shareholders, investors and friends from all sectors of the society for their trust and support over the years! Chairman of the Board Kou Wei Annual Report 2020 3 General Manager’s Statement Dear shareholders, Entering the new era, we will forge ahead. In 2020, with the strong support of all shareholders and the scientific leadership of the Board, the management of the Company practiced the new development concept, gathered strength to move forward, and coordinated the promotion of pandemic prevention and control with the production and operation closely based on the annual tasks and objectives, and focused on changing methods, promoting development, financing, cost control and risk prevention, aiming to comprehensively promote production and operation, innovative development, legal compliance and other aspects of work. The production and operating performance of the Company was improved significantly, with total assets amounting to RMB89,909 million, representing an increase of 12.35%. The installed capacity exceeded 10,000 MW for the first time, reaching 12,230 MW, representing an increase of 25.28%; and the power generation was 21,176 million kWh, representing an increase of 14.87%. The total profit amounted to RMB1,879 million, representing an increase of 30.53%; and the net profit attributable to owners of the parent amounted to RMB1,187 million, representing an increase of 26.74%. The return on net assets reached 7.35%. The development of clean energy continued to accelerate, and its dynamism and driving force continued to increase, creating a new situation of high-quality development. The promulgation of the national “carbon peak and carbon neutral” action plan marks the entry of a new development stage of the energy industry in China. Vigorously developing new energy sources, mainly wind power and solar power, is the only way to achieve a green transformation of the economy and society of China. In the next decade, the “fast forward button” will be pressed for the “wind and solar” development of China. By 2030, the total installed capacity of wind power and solar power will reach more than 1.2 billion kW, which will provide a broad space and market for clean and low-carbon development of the energy industry. 4 China Datang Corporation Renewable Power Co., Limited General Manager’s Statement (Continued) As the east wind brings spring, the Company is full of vitality and enters a new stage with a brand- new look. 2021 is the opening year to implement the “14th Five-Year Plan”, and it is also the first year for Datang Corporation to start the second entrepreneurship. We will strengthen the awareness of opportunities and risks, based on the new development stage, implement the new development concept, focus on “strengthening six aspects” to realize “six improvements”, that is, strengthening project planning for the improvement of incremental development capabilities, strengthening cost control for the improvement of the efficiency of stock assets, strengthening risk prevention and control for the improvement of risk resolution capabilities, strengthening safety production for the improvement of intrinsic safety level, strengthening process management for the improvement of scientific management efficiency, and strengthening the leadership of Party building for the improvement of organizational security capacity, so as to complete the annual business goals with high quality, and ensure that the Company has a good and steady start in the “14th Five-Year Plan” and ushers in the 100th anniversary of the founding of the Party with excellent results. In the end, we would like to express our heartfelt gratitude to all the shareholders and friends from all sectors in the society. The road ahead is long and we are ready to work harder. In the new year, under the leadership of the Board of the Company, we will courageously forge ahead, pioneer and innovate, seize the development opportunities of national green and low-carbon transformation, and with an indomitable attitude and in high spirit, we will push our operation and management to a new level, continue our efforts to make new achievements and draw a magnificent picture of the Company for building itself into a first-class new energy supplier in the new era! General Manager Liu Guangming Annual Report 2020 5 Company Prole The predecessor of China Datang Corporation Renewable Power Co., Limited (stock code: 1798) was Datang Chifeng Saihanba Wind Power Generation Co., Ltd. (大唐赤峰塞罕壩風力發電有限公司) which was established on 23 September 2004. It was one of the earliest power enterprises that engaged in the development of new energy in the PRC. Since the establishment of the Company and after several years of rapid development, the Company was successfully listed on the Main Board of the Hong Kong Stock Exchange on 17 December 2010. As at 31 December 2020, the Company had a total of 7,273,701,000 issued shares, among which the Company’s controlling shareholder China Datang Corporation Ltd. holds an aggregate of 65.61%. The Group is principally engaged in the development, investment, construction and management of wind power and other renewable energy sources; research and development, application and promotion of low carbon technology; research, sale, testing and maintenance of renewable energy- related equipment; power generation; design, construction and installation, repair and maintenance of domestic and overseas power projects; import and export services of renewable energy equipment and technologies; foreign investment; renewable energy-related consulting services. The Group is actively engaged in the renewable sources business including wind power and solar power. As at 31 December 2020, the Group’s consolidated installed capacity amounted to 12,229.52 MW, including 11,171.05 MW of wind power installed capacity. 6 China Datang Corporation Renewable Power Co., Limited Company Prole (Continued) Corporate Structure: As at 31 December 2020, the Company’s major corporate structure was as follows: Datang Jilin Datang Corporation Holders of H Shares 8.24% 57.37% 34.39% The Company 100.0% 100.0% 100.0% 100.0% 100.0% Datang Yichuan Renewable Power Co., Ltd. Datang Huachuan Wind Power Generation Co., Ltd. Datang Suibin Renewable Power Co., Ltd. Datang Siyang Renewable Power Co., Ltd. Datang Wendeng Wind Power Co., Ltd 75.0% 51.0% 100.0% 100.0% 100.0% Beipiao Yangshugou Wind Power Generation Co., Ltd. Datang Hailin Wind Power Generation Co., Ltd. Datang Rongcheng Renewable Power Co., Ltd. Datang Ordos Renewable Power Co., Ltd. Datang Pu’er New Energy Co., Ltd 100.0% 86.57% 100.0% 100.0% 100.0% Datang Qiannan Renewable Power Co., Ltd. Datang Yilan Wind Power Generation Co., Ltd. Datang Fuchuan Renewable Power Co., Ltd. Datang Jiaonan Wind Power Generation Co., Ltd. Datang Pingdu Wind Power Co., Ltd 95.0% 100.0% 100.0% 100.0% Beijing Tanghao Electricity Engineering Technology 100.0% Datang Kunming Dongchuan Renewable Power Co., Ltd. Datang Eryuan Wind Power Generation Co., Ltd. Datang Guilin Renewable Power Co., Ltd. Datang Dianbai New Energy Co., Ltd Research Co., Ltd.
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