Shenergy (Group) Co., Ltd. was established in 1996 with the approval of the Shanghai Municipal Government with a registered capital of 6 billion yuan. It is mainly engaged in the production and supply of electricity, gas, etc. and the investment, construction and management of energy infrastructure. A wholly state-owned limited liability company funded and supervised by the Shanghai State-owned Assets Supervision and Administration Commission.
The company adheres to the business philosophy of "determined development and steady operation" and maintains a healthy and upward development trend in terms of industrial structure, asset scale and corporate efficiency, and has basically formed a "simultaneous electrical development and integration of industry and finance" development pattern. In 2008, it was confirmed by the Shanghai State-owned Assets Supervision and Administration Commission that the company's main businesses are: first, the production and supply of energy products, mainly electricity and gas; second, investment and asset management (energy and related service industries, financial enterprise equity).
In 2008, the company achieved gratifying results in many aspects such as energy security supply, major project construction, industrial expansion, technological innovation, energy conservation and emission reduction, and maintaining good performance. As of the end of 2008, the company's total assets were 60.2 billion yuan, net assets were 36.4 billion yuan, and state owners' equity was 21.4 billion yuan. Achieved main business income of 18.4 billion yuan and net profit of 960 million yuan. Ranked among the top 500 Chinese enterprises for seven consecutive years.
At the end of 2008, the company invested in and completed 13 power projects, with a controllable installed capacity of 5.02 million kilowatts and an equity installed capacity of 4.72 million kilowatts, of which coal power accounted for 70%, hydropower 15%, nuclear power 6%, and gas power generation. 9%. In 2008, the full-scale power generation of the company's invested power plants was 45.6 billion kilowatt-hours, and the equity power generation was 21.2 billion kilowatt-hours.
In 2008, the company’s power project construction achieved remarkable results. Two 1 million kilowatt ultra-supercritical domestic coal-fired generating units of Shanghai Waigaoqiao No. 3 Power Generation Co., Ltd., a subsidiary of the company, have achieved "double commissioning" ahead of schedule and are operating well. The company is actively carrying out preliminary work on projects such as Lingang gas turbine and Yangtze River Estuary power plant; projects outside the city such as the second phase of Qinshan expansion project are progressing smoothly.
The company actively promotes the joint development of coal and electricity. Through joint ventures such as the establishment of Zhongtian Hechuang Company and the establishment of Shenyuan Fuel Company, the business scope has developed from single power generation to coal mining, processing and trade, and has expanded beyond The first step in the upstream market.
At the end of 2008, the company had nearly 5.3 million users of natural gas, artificial coal gas, and liquefied gas, and nearly 17,000 kilometers of underground pipelines, including 810 kilometers of high-pressure natural gas pipelines. In 2008, it supplied 2.98 billion cubic meters of natural gas, 1.92 billion cubic meters of artificial coal gas, and 117,000 tons of liquefied petroleum gas.
In 2008, the company’s gas project construction was deepened and advanced. The Shanghai LNG project is an important part of Shanghai's multi-gas source system. The terminal and channel widening projects will be completed within the year, and the EPC receiving station will be completed. The project is expected to be put into operation in the fourth quarter of 2009. The Shanghai Wuhaogou LNG accident gas source backup station expansion project was officially put into operation in November 2008, further improving the urban gas safety guarantee system. The second phase of the natural gas main pipeline network, the World Expo Park, Hongqiao Hub and other gas supporting projects are progressing steadily according to the node targets.
The company has increased its marketing and expansion efforts in the gas market, actively expanded the application areas of natural gas, accelerated the cultivation of emerging gas markets, and begun to study the possibility of cross-regional natural gas trade, in order to balance and ensure the supply of gas energy in Shanghai. Make a positive contribution.
In 2008, the Lingang Solar Power Project, the largest grid-connected megawatt-scale solar photovoltaic power generation project in China invested and constructed by the company, and the Jiangsu Qidong Wind Power Project in which it participated in the investment were put into commercial operation successively. The preliminary work of Expo Solar, Changxing Island Wind Power, Lingang Wind Power, Expo Solar, Changxing Island Wind Power, Lingang Wind Power and other projects has been carried out smoothly. The company's energy services industry has started steadily. In December 2008, Shenergy Energy Services Company was established, and the first batch of projects were agreed upon.
As the scale and income of financial investment continue to account for the proportion of the company's business, in 2008, the Shanghai State-owned Assets Supervision and Administration Commission clearly listed financial investment as the company's main business. As of the end of 2008, corporate financial investment accounted for one-third of external investment. In 2008, the company further strengthened its investment in financial assets and increased capital by nearly 90 million to China Pacific Property & Casualty Insurance Company and Life Insurance Company. In the context of the global economic downturn and the sluggish Chinese capital market
, three consecutive phases of short-term financing bonds were successfully issued to provide financial guarantee for the healthy development of the company. Shenergy Asset Management Company and Shenergy Finance Company, both affiliated to the company, have overcome various adverse effects and maintained stable earnings.
The financial companies invested by the company also achieved considerable dividend returns. Financial investment income has become an important source of profit for the company.
In 2008, "generator set bypass control method", "CN-32 light oil pre-conversion modification catalyst", "a PE pipeline electrofusion casing leakage gap sealing emergency repair" in the company system Ten scientific and technological achievements including "Interface" have been awarded national patents; the "Key Technologies for Underwater Production System of Marginal Fields in the East China Sea" project has been officially approved to be included in the National 863 Plan; the "Expo China Pavilion and Theme Pavilion Photovoltaic Building Integration" project has been approved by the National Ministry of Science and Technology and Shanghai The Municipal Science and Technology Commission listed it as a major special topic for the World Expo.
In 2008, the annual average coal consumption for power supply of the company's system power generation enterprises was 306 g/kWh, which was 43 g/kWh lower than the national average. Among them, Waigaoqiao No. 3 generating unit’s coal consumption is less than 290 g/kWh, and various technical and economic indicators are at the world’s leading level. The company's system power generation enterprises completed the desulfurization transformation task ahead of schedule, with desulfurization efficiency and operation rate reaching over 90%, making an important contribution to Shanghai's three-year environmental protection action plan.