【Yixing Yangtze River Power Three Gorges Dam】 Stainless Steel Flange Rubber Joint Contract
Shanghai Songjiang Shock Absorber Group Co., Ltd. specializes in supplying a batch of DN100 stainless steel flange rubber joint products for the supporting equipment of the Three Gorges Dam in Yichang Yangtze River Power. These products are mainly used at the cooling locations of the generator units, with stainless steel flanges and natural rubber, and a pressure rating of 16kg.
1. Introduction to China Yangtze Power Co., Ltd.:
China Yangtze Power Co., Ltd. (hereinafter referred to as Yangtze Power or the Company) was approved by the State Council upon the request of the former State Economic and Trade Commission, and established in a joint-initiated manner by China Yangtze Three Gorges Group Corporation as the main sponsor, as per the approval in the document ‘Approval for the Establishment of China Yangtze Power Co., Ltd.’ (Guo Jing Mao Qi Gai [2002] No. 700). The company was founded on September 29, 2002.
On October 28, 2003, the company conducted its initial public offering of 2,326,000,000 RMB ordinary shares, with a total share capital of 7,856,000,000 shares. On August 15, 2005, the company implemented the equity split reform, resulting in a total share capital change to 8,186,737,600 shares. In May 2007, the “Yangdian CWB1” warrants were successfully exercised, leading to a total share capital change to 9,412,085,457 shares. On September 28, 2009, the company underwent a major asset restructuring, resulting in a total share capital change to 11,000,000,000 shares. On July 19, 2010, the company implemented a capital reserve fund capitalization plan, resulting in a total share capital change to 16,500,000,000 shares.
The company is currently the largest hydropower publicly listed company in China, primarily engaged in hydropower business, committed to being the leader in the global hydropower development. It owns all generating units of the Gezhouba Dam and Three Gorges Dam, and is entrusted to operate and manage the Xiluodu and Xiangjiaba power stations, which rank among the world’s top ten hydropower stations in scale. As of December 31, 2014, the company’s total installed capacity is 25,277,000 kilowatts. In addition, through equity participation in power generation enterprises, it has an equity-based installed capacity of approximately 2,820,000 kilowatts (excluding those under construction).
2.Historical Overview of Yichang Yangtze Power Company:
On December 25, 2003, the sixth session of the first board meeting of China Yangtze Power was held in Beijing. The meeting was chaired by Lu Youmei and Li Yong’an. Directors Guo Tao, Cao Guangjing, Wang Xiaosong, Gong Huazhang, independent directors Cui Jianmin, Lin Yixiang, Wu Jingru, Wu Guangqi attended the meeting. Supervisors Lin Chuxue, Zhang Chongjiu, Bi Weimin, Cheng Yongquan, Vice General Managers Bi Yaxiong, Kou Riming, Zhang Dingming, and Assistant General Manager Lu Chunquan were also present.
The meeting approved Lu Youmei’s resignation from the positions of Chairman and Director and elected Li Yong’an as the new Chairman. The meeting reviewed and approved the proposal on the adjustment of the Board Secretary, agreeing that Comrade Zhang Dingming, Vice General Manager of the company, would no longer serve as the Board Secretary, and approving Comrade Fu Zhenbang as the new Board Secretary. The meeting also approved proposals on the establishment of the Board Office, interim regulations on the compensation management of senior management of China Yangtze Power Co., Ltd., authorization of the Chairman to make decisions on investments in national bonds and bond repurchase within specified limits, and the company’s depreciation policy for fixed assets at the Three Gorges Power Station. Vice General Manager Zhang Dingming presented a report on the company’s first public offering of China Yangtze Power shares and its listing at the meeting.
Vice General Manager Bi Yaxiong presented the ‘Report on the Annual Production and Operation Situation of the Company.
On November 18th, China Yangtze Power was listed with a bell-ringing ceremony. The opening price was RMB 6.23, closing at RMB 6.18, a 43.72% increase. The trading volume on the first day of listing reached RMB 46.94 billion, with a turnover rate of 58.93%.
3.Introduction to Yichang Yangtze Power Company:
China Yangtze Power Co., Ltd. (referred to as ‘Yangtze Power’ or the ‘Company’) was approved by the State Council upon the request of the former State Economic and Trade Commission, as per the document ‘Approval for the Establishment of China Yangtze Power Co., Ltd.’ (Guo Jing Mao Qi Gai [2002] No. 700). It was established as a joint-stock company initiated by China Yangtze Three Gorges Engineering Development Corporation (referred to as ‘China Three Gorges Corporation’).
4.Introduction to Yichang Yangtze Power Investments:
Key financial indicators for the first three quarters of 2009: Earnings per share of 0.4121 RMB, Net asset value per share of 5.5100 RMB, Net asset return rate of 6.4300%, Operating income of 7,065,517,453.15 RMB, year-on-year change of -0.5232%; Net profit attributable to shareholders of the listed company of 3,901,139,579.48 RMB, year-on-year change of 13.3145%.
Fees: According to the standards in Hubei Province, where the water intake is located, the company’s water resource fee is 0.3 cents per kilowatt-hour. Based on the company’s 2008 power generation of 44.278 billion kilowatt-hours, an annual water resource fee of 133 million RMB is required.
Dividends: The dividend payment plan for the year 2008 is: 2.1585 RMB (including tax) per 10 shares. Equity registration date: August 6, 2009; Ex-dividend date: August 7, 2009; Cash dividend payment date: August 13, 2009.
Controlling Stake: On August 19, China Three Gorges Corporation increased its holdings in the company by 10.07 million shares through the Shanghai Stock Exchange trading system, accounting for 0.107% of the company’s total share capital.
Power Generation: As of September 30, 2009, the company’s subsidiary Gezhouba Dam Power Station completed a power generation of approximately 13.026 billion kilowatt-hours in the first three quarters of 2009, an increase of 0.93% compared to the same period last year; Three Gorges Dam Power Station completed a power generation of approximately 65.295 billion kilowatt-hours in the first three quarters of 2009, with the company distributing approximately 20.566 billion kilowatt-hours, a decrease of 1.76% compared to the same period last year. The total power generation of the company in the first three quarters of 2009 is approximately 33.592 billion kilowatt-hours, a decrease of 0.74% compared to the same period last year.
Electricity Price: The base electricity price for Gezhouba Dam Power Station owned by the company, delivered to Hubei, is adjusted from 0.1599 RMB per kilowatt-hour to 0.18 RMB, and the remaining delivered electricity price is adjusted from 0.22 RMB per kilowatt-hour to 0.24 RMB.
5.Introduction to the Contract for Stainless Steel Flange Rubber Joints for Yixing Yangtze River Power Three Gorges Dam:
6.Introduction to Stainless Steel Flange Rubber Joints for Yixing Yangtze River Power Three Gorges Dam:
The information regarding the use of Shanghai Songjiang DN100 stainless steel flange rubber joints by Yichang Yangtze Power is sourced from the official website of Shanghai Songjiang Shock Absorber Group Co., Ltd. If reposting is required, please indicate the source.
Related product:【304】DN150 Stainless Steel Flange Potable Water Grade Rubber Expansion Joint
