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    Changyuan Electric Power Q4 net profit declines

    sxcoal.com General,  Company,  Production & Sales,  Cost & Profit 2024-02-07 14:08:03

    CHN Energy Changyuan Electric Power Co. Ltd., a listed firm of China Energy Investment Corporation (CHN Energy), reported its estimated net profit attributable to shareholders to reach 313-417 million yuan ($44.05-58.69 million) in the fourth quarter of 2023.

     

    The figure was much lower than 642 million yuan in the third quarter last year.

     

    The company ascribed the slump mainly to significant repair and material costs, as well as impairment losses on related assets, which were recorded in the fourth quarter after necessary procedures.

     

    Changyuan Electric Power has commenced operation of all 17 coal-fired power units since its photovoltaic generation would be negatively impacted after days of sweeping and intense rain, snow and freezing conditions.

     

    It would ensure power dispatches and a stable energy supply.

     

    The company primarily engages in the production of electricity, heat and related equipment and the development of new energy. Its business sectors mainly include thermal and wind power, and biomass generation blending with other fuels.

     

    (Writing by Riley Liang  Editing by Rebecca Liu)
    For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

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