Chongqing Three Gorges Water Conservancy and power (Group) Co., Ltd. (600116)

Chongqing Three Gorges Water Conservancy and power (Group) Co., Ltd. (600116)

Chongqing Three Gorges Water Conservancy Power (Group) Co., Ltd. (hereinafter referred to as the company) originated from Wanxian electric power company established in 1929. In 1941, Mr. zhangguangdou, the first hydropower plant in Wanxian District, was designed and built by zhangguangdou, the first hydropower plant in Wanxian District, which opened a new chapter of the company's development. In 1994, with the approval of Sichuan Economic System Reform Commission, the company was restructured into a joint stock company by directional offering, and was listed on Shanghai Stock Exchange in 1997 (Stock Code: 600116), which was the first electric power listed company in Chongqing. In 2020, the company acquired the equity of Chongqing Changdian United Energy Co., Ltd. and Chongqing Liangjiang Changxing Power Co., Ltd. by issuing shares and paying cash. The overall scale benefit and cooperative development advantages are initially demonstrated. The current controlling shareholder of the company is China Changjiang Power Co., Ltd. and the actual controller is the state owned assets supervision and Administration Committee of the State Council.

The company is registered in Wanzhou District, Chongqing. Its headquarter is now building 11, Shengwei crystal, No.99 Jinkai Avenue, Yubei District, Chongqing. The company is mainly engaged in power generation and power supply business, and also operates comprehensive energy services, power survey and design, power engineering installation, manganese mining and electrolytic manganese production and processing and sales. The company now has more than 50 wholly-owned and controlled subsidiaries, and participates in Chongqing public station and platform investment and development (group) Co., Ltd., Chongqing Three Gorges bank and other enterprises. The company has its own hydropower installed capacity of 750000 kW, annual distribution power of nearly 20billion kwh. The power supply area covers Chongqing "four districts, two counties", Hunan Huayuan, Songtao, Guizhou Province, etc., forming the main power supply relationship of interconnection with national grid and southern power grid. In the supply area, a certain scale distribution network has been preliminarily built, which provides for the local economic and social development It provides a strong guarantee of power factor.

In recent years, the company governance has been improved continuously, and the capital market has achieved leapfrog development. In 2010 and 2015, the company realized capital market refinancing twice, raising 1.26 billion yuan. In may2020, the company successfully completed the major asset restructuring, and successfully issued 64.43 million shares in private in June, raising RMB 500million in capital, and entered a new stage of strategic development. At present, the company has a total share capital of 1912142904 shares, with total assets of nearly 20billion yuan, net assets of more than 9 billion yuan, and about 4000 employees in the register.

In the future, the company will actively implement the reform of national power system and hybrid ownership system, take "to build a first-class comprehensive energy listed company based on distribution power" as the strategic goal, while continuously giving full play to the role of regional energy supply support platform, the company will continue to explore and innovate business models, and strive to expand related businesses such as distribution power and comprehensive energy, and concentrate on Synthesis and record storage Gaoyuan, pioneering and innovation, with better economic and social benefits, return to shareholders, return to the society.

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