CGN New Energy : Announcement Trading Update Electricity Sales For January 2020

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CGN NEW ENERGY HOLDINGS CO., LTD.

中 國 廣 核 新 能 源 控 股 有 限 公 司

(incorporated in Bermuda with limited liability)

(Stock code: 1811)

Announcement

Trading Update

Electricity Sales For January 2020

This announcement is made by CGN New Energy Holdings Co., Ltd. (the "Company") on a voluntary basis.

The board (the "Board") of directors (the "Directors") of the Company announces that, according to the preliminary statistics of the Company, the electricity sales of the Company and its subsidiaries (the "Group") on a consolidated basis amounted to

928.6 GWh for the month of January 2020, representing a decrease of 12.2% compared with the corresponding period of 2019. In particular, electricity sales of PRC wind projects increased by 29.8%, electricity sales of PRC solar projects increased by 21.9%, electricity sales of PRC coal-fired, cogen and gas-fired projects decreased by 83.7%, electricity sales of PRC hydro projects decreased by 38.1% and electricity sales of Korea gas-fired projects decreased by 5.0%. For the month ended 31 January 2020, the accumulated electricity sales of the Group amounted to 928.6 GWh, representing a decrease of 12.2% compared with the corresponding period of 2019. Electricity sales of PRC wind projects increased by 29.8%, electricity sales of PRC solar projects increased by 21.9%, electricity sales of PRC coal-fired, cogen and gas-fired projects decreased by 83.7%, electricity sales of PRC hydro projects decreased by 38.1% and electricity sales of Korea gas-fired projects decreased by 5.0%.

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Details of the electricity sales of the Group for January 2020 (with corresponding period of 2019) are set out as follows:

						Year-on-year
				Accumulated	Accumulated	percentage
			Year-on-year	electricity sales	electricity sales	change of
	Electricity	Electricity	percentage	for the month	for the	accumulated
	sales for	sales for	change for	ended 31	corresponding	annual
	January 2020	January 2019	January	January 2020	period of 2019	electricity sales
	(GWh)	(GWh)	(%)	(GWh)	(GWh)	(%)
PRC wind projects	221.1	170.3	29.8	221.1	170.3	29.8
PRC solar projects	70.6	57.9	21.9	70.6	57.9	21.9
PRC coal-fired, cogen and	27.0	165.3	(83.7)1	27.0	165.3	(83.7)
gas-fired projects
PRC hydro projects	38.6	62.4	(38.1)	38.6	62.4	(38.1)
Korea gas-fired projects	571.3	601.3	(5.0)	571.3	601.3	(5.0)
Total	928.6	1,057.1	(12.2)	928.6	1,057.1	(12.2)

1 Since January 2020, one of the projects has temporarily stopped operations due to, among others, its restricted access to local water supply, which caused a year-on-year decrease in power generation in January 2020.

Note: Certain figures included in this announcement have been subject to rounding adjustments, or have been rounded to one decimal place. Any discrepancies between the total shown and the sum of the amounts listed are due to rounding.

The above trading update for January 2020 is based on preliminary internal management information and such information is unaudited and is for the purpose of investors' reference only.

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Shareholders of the Company and potential investors are advised to exercise caution when dealing in the securities of the Company.

By Order of the Board

CGN New Energy Holdings Co., Ltd.

Li Yilun

President and Executive Director

Hong Kong, 14 February 2020

As at the date of this announcement, the Board comprises seven Directors, namely:

Chairman and non-executive Director	:	Mr. Chen Sui
Executive Director	:	Mr. Li Yilun (President) and
		Mr. Zhang Zhiwu
Non-executive Directors	:	Mr. Xing Ping
Independent non-executive Directors	:	Mr. Wang Minhao,
		Mr. Yang Xiaosheng and
		Mr. Leung Chi Ching Frederick

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