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In
1992, Shenneng Electric Power Company was converted
into Shenergy Company Ltd. and
listed .In the past more than seven years, with active development
and steady operation, the company exerted its efforts into the main
business of electric power and energy construction. By the method
of capital employment, the company has breaded high quality assets
actively,created new financial activities, enlarged the size of the
company, and increased the return ratio to our shareholders. The company
has also made several No.1 in China securities market:The first listing
company in the industry of electric power and energy; One of the SSE
30s, which was selected at the beginning and has been withhold up
till now; The first listing company which was approved for high ratio
of rights issue; The largest assets transfer case with the amount
of RMB 3.5 billion; The first company which made stock repurchase
and written-off.
At the end of
1999, the total equity is 1.633 billion RMB with 1.113
billion representing state-sector shares accounting for 68.16%, 269
million held by legal persons accounting for 16.47%, and 251 million
owned by individuals accounting 15.37%.
After its establishment,
the Company has exerted all its efforts into Shanghai electric power
construction. It invests and manages Shanghai electric power and energy
projects with the aim to alleviate the city's chronic power shortage.
At the time of the establishment of shenneng Electric Power Development
Company, the total installed capacity of Shanghai was only more than
3,000MW,while at the end of the year of 1999,the installed capacity
of Shanghai area was 8748MW,which is equal to 2.9 times of all installed
capacity made from the year 1882 to 1986. In the past 13 years, the
installed capacity of Shanghai area has increased by 5748MW, and Shenergy's
share is 2230MW,which is about 25.5% of the total installed capacity
in Shanghai or about 38.8% of new installed capacity.
The power plants and energy project in commercial
operation with Shenergy interests include: Waigaoqiao electric power
generating company Ltd . Which includes 4X300MW units; The East oil
field development project; Shidonkou No.2 Power Plant, which comprises
2X600MW units (Shenergy has converted its shares at the end of 1997);
Shidongkou Power plants, which includes 4X300MW units; Wujing Thermal
Power Plant Phase 6, with 2X300MW units; Chongming power Plant adding
80MW in two units; Xinghuo Thermal Power Plant with 2X12 co-generation
units.
Shanghai Waigaoqiao electric power generating
company Ltd. Was registered and established on Nov.24,1999. It was
invested by Shenergy and Shanghai electric power company Ltd. and
its main business is electric power coal-generating and comprehensive
utilization . It has 4X300 sub-critical coal firing units. The power
plant was established in October 1992, and the first unit was put
into commercial operation in April 1995. By the end of 1997, all the
four units had been put into operation. In 1997, No.1 and No.2 units
achieved first class in the national 27th coal fired domestic-made
unit competition and the No.3 unit achieved special class in the competition.
In 1998 ,the four units attended the 28th competition and achieved
first and second class.
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