Company Profile  

Announcement on the Renaming of Guangdong Yudean Group Co., Ltd. to Guangdong Energy Group Co., Ltd.

With the consent of the State-owned Assets Supervision and Administration Commission of the People's Government of Guangdong Province and after the approval by Guangdong Provincial Market Supervision Administration, the former “Guangdong Yudean Group Co., Ltd.” has been renamed as “Guangdong Energy Group Co., Ltd.”.

After being renamed as Guangdong Energy Group Co., Ltd., the company's legal representative, equity relationship, business scope, office address, contact information, etc. remain the same , and the company's daily operation and management and financial status will not be affected.

The original company assets, creditor's rights and debts, business operations, institutions, personnel, and various agreements signed by Guangdong Yudean Group Co., Ltd. are inherited by Guangdong Energy Group Co., Ltd., and the agreements continue to be legal and valid during the validity period.

The common seal of Guangdong Energy Group Co., Ltd is officially used from now on, and the common seal of the former Guangdong Yudean Group Co., Ltd. is invalidated at the same time.

Announcement is hereby given

Guangdong Energy Group Co., Ltd.

February 18, 2019

Company Profile

Yudean Group is a company with centennial historical inheritance

Its history can be traced back to the 1880s. In 1888, the first electric light in Guangdong was lighted in the Palace of the Governor-General of Guangdong and Guangxi. In 1890, patriotic overseas Chinese set up China's first electric light company with national capital in Guangzhou. On August 8, 2001, Guangdong Provincial Government took the lead in carrying out the electric power system reform across the country, and Yudean Group was established to inherit the power generation business of former Electric Power Group Company of Guangdong Province. The company's registered capital is RMB 23 billion yuan, with 76% stock right held by People's Government of Guangdong Province and 24% held by China Huaneng Group. Now it has over 13000 employees, and has become the most powerful and largest power generation enterprise in Guangdong. 

By the end of 2016, Yudean Group had total assets about 130 billion yuan, controllable installed capacity about 30 million kilowatt, controllable shipping capacity of 2.41 million deadweight tons, and operating revenue of over 40 billion yuan throughout the year, and possessed 170 wholly owned, holding and equity participation companies as well as a holding listed company - Guangdong Electric Power Development Co., Ltd. (Yue Power). The core businesses of Yudean Group involve coal power, hydropower, gas power generation, wind power, nuclear power, solar power generation, etc., and its diversified businesses involve coal mine, shipping, port, LNG receiving station, equipment manufacturing industry, finance industry, etc., which spread all over Guangdong and actively expand to other provinces and overseas countries. It has 35 subordinate power plants, including 15 million-kilowatt power plants; the proportion of installed capacity of generating sets with 600 thousand kilowatts and above is 63.8%, and the installed capacity of clean energy has exceeded 5 million kilowatts. The company ranked 285 and 33 respectively among top 500 Chinese companies and top 500 companies in Guangdong in 2016, and has obtained excellence for fifteen straight years in the examination of management responsibility system of province-owned national assets.

Besides providing safe, economical, and firm power to the society, Yudean Group also actively fulfills its social responsibility and creates green energy wholeheartedly to realize the company's sustainable development. It also encourages clean production in subordinate power plants in the whole process with an omni-directional way, works hard to constantly reduce pollutant emission index, and vigorously promotes transformation in energy conservation and emission reduction, as well as environmental monitoring, so as to ensure the discharge under standard. 

Keeping the enterprise philosophy of “achieving harmonious co-existence, innovating while keeping integrity” and enterprise mission of “benefiting both the country and people with great virtue and kindness”, Yudean Group will insist on making progress while maintaining stability and conducting reform and innovation, adapt to the new normal with a new state, and facilitate new development with new achievements, strengthen Party building of the state-owned enterprises in an all-around way, firmly hold the bottom line on risks, work hard to realize double improvement in development quality and benefits, and develop into a national large-scale energy enterprise group that integrates traditional energy with new energy, possesses outstanding competitive power , and that ranks high among national energy enterprises.

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