Gd Power Development Co.,Ltd. (ASX: 600795) has announced an update on its project development and shareholder return initiatives.
The company is accelerating the development of high-quality new energy base projects. The Tianjin Haijing project has completed foundation work for 30 transmission towers and is scheduled to achieve full-capacity grid connection by the end of the year. The Dadu River Shuangjiangkou Hydropower Station has met its "dual commissioning" target, providing further significant support for the clean energy supply system in southwestern China and the national carbon reduction goals.
In the thermal power sector, the company is strengthening management of key construction projects. The boiler for Unit #4 at the Langfang Phase II project was successfully ignited on the first attempt. This unit is the world's first 350-megawatt supercritical cogeneration boiler to utilize a coupled flue gas molten salt heat storage system. Additionally, the plant power system for the Datong Hudong project was successfully energized, with efforts now focused on achieving the "dual commissioning within the year" target.
The company maintains a core focus on rewarding shareholders and is strictly implementing its cash dividend plan for 2025-2027 to establish a stable, sustainable, and predictable mechanism for returning value. The profit distribution for the 2025 fiscal year has been completed, with a total cash dividend of 0.241 yuan per share (tax inclusive) distributed to all shareholders for the full year (including an interim dividend). The total dividend payout amounted to 4.298 billion yuan, representing 60.02% of the net profit attributable to shareholders as stated in the company's 2025 consolidated financial statements.
In response to regulatory guidance, the company is optimizing its interim profit distribution mechanism for 2026. With authorization from the shareholders' meeting, the board of directors will formulate and implement the 2026 interim dividend plan, provided it meets regulatory requirements and aligns with the company's cash dividend policy.
In 2021, the company executed an asset swap with China Energy Investment Corporation, acquiring conventional energy power generation assets in regions including Shandong, Jiangxi, Fujian, Guangdong, Hainan, and Hunan. This move further optimized the industrial layout and improved asset quality. In 2022, the company acquired an additional 11% equity stake in Guoneng Dadu River Basin Hydropower Development Co., Ltd. from China Energy, which helped improve the debt-to-asset ratio and increased the scale and profitability of its clean energy portfolio.
To further support the company's development, China Energy Investment Corporation will continue to actively fulfill its capital market commitments. This includes promoting the reduction and resolution of同业竞争 (intra-industry competition), improving long-term mechanisms to manage such competition, and steadily advancing the integration and injection of China Energy's conventional energy power generation assets into the listed company.
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