Funeng Co., Ltd. (600483): Jinjiang Gas Power Co., Ltd. Pre Cashed 92819 Million Kwh Of Grid Connected Electricity In December

Funeng shares (600483. SH) announced that recently, Jinjiang gas power, the company's holding subsidiary, received the notice on issues related to the replacement of power generation index transfer in 2020 issued by Fujian Provincial Department of industry and information technology, which further clarified the power generation right transfer transaction of LNG power plant in 2020. The main contents of the notice are as follows:

(1) Jinjiang gas power is scheduled to cash in 92819 million kwh of grid connected electricity in December 2020, and the remaining replacement electricity will be realized from January to April 2021.

(2) according to the notice of Fujian Provincial Development and Reform Commission on electricity price adjustment of gas power plants in our province, the alternative electricity price of this transfer is 0.28 yuan / kWh (including tax), and the settlement on grid price of the transferor is 0.5683 yuan / kWh (tax included).

According to the target of 2.486 billion kWh and electricity price, the gross profit of Jinjiang gas power is estimated to be about 634 million RMB yuan, and the gross profit of 2020 is about 237 million yuan.