China Three Gorges Group Co., Ltd

Group profile

    On September 27, 1993, with the approval of the State Council, China Three Gorges Project Development Corporation was officially established; on September 27, 2009, it was renamed as China Three Gorges Group Corporation; on December 28, 2017, the company system reform was completed, and the enterprise owned by the whole people was changed into a wholly state-owned company, and the name was changed to China Three Gorges Group Corporation Limited (hereinafter referred to as Three Gorges group or group). One belt, one road, and other major strategies for the Three Gorges group are the strategic positioning of the Three Gorges group: to actively serve the development of the Yangtze River economic belt and the "one belt and one way" construction. It plays a backbone role in the deep integration into the Yangtze River economic belt and the joint efforts to protect the Yangtze River. It has the basic guarantee function in promoting regional sustainable development, and takes the lead responsibility in promoting clean energy industry upgrading and innovation development, and further deepening the enterprise. Reform and accelerate the construction of a world-class transnational clean energy group with strong innovation ability and global competitiveness. Focusing on the main business of clean energy, eight business sectors have been formed, including engineering construction and consulting, power production and operation, river basin cascade dispatching and comprehensive management, international energy investment and contracting, ecological and environmental protection investment and operation, new energy development and operation management, capital operation and financial business, asset management and base service. Its business covers 31 provinces, autonomous regions and municipalities directly under the central government in China, as well as more than 40 countries and regions in the world. It has realized the leap forward development from Three Gorges to the Yangtze River, from Hubei to the whole country, from inland to the ocean, and from China to the world, striving to realize the "two wings" of clean energy and ecological environmental protection of the Yangtze River. After 20 years of continuous high-quality and rapid development, it has become the largest hydropower development and operation enterprise in the world and the largest clean energy group in China. In December 2018, the Three Gorges group was included in the list of world-class demonstration enterprises created by central enterprises. The Three Gorges group has clearer development ideas, clearer development goals and broader development prospects.

    By the end of October 2019, the controllable, equity and total installed capacity of the Three Gorges group has reached 132million kW, including 74.49 million KW controllable installed, 33.12 million KW under construction, 2427 million kw of equity installed, 96% of which are renewable clean energy, and controllable hydropower installation accounts for 16% of the national hydropower installation. As of the third quarter of 2019, the total assets of the Three Gorges group are nearly 817.4 billion yuan, the net assets are nearly 41.8 billion yuan, and the asset liability ratio is 48.8%. The total profit, net profit attributable to the parent company, cost expense profit rate, total labor productivity, per capita profit, per capita income and per capita tax payment are among the top in the central enterprises.

    The Three Gorges group is fully responsible for the construction and operation of the Three Gorges Project. It took more than 20 years of hard work, and the preliminary design and construction task of the Three Gorges project was completed as scheduled in 2009. On April 24, 2018, general secretary Xi Jinping visited the Three Gorges Project and made an important speech. General secretary Xi Jinping pointed out that the Three Gorges project is a heavy load of the country and is created by the hard work and self-reliance of the labourers. The successful completion and operation of the Three Gorges project make the dream of how many generations of Chinese people develop and utilize the Three Gorges resources become reality, and become an important sign of China's development since the reform and opening up. This is the model of the superiority of our socialist system to concentrate on the great things, the model of the Chinese people's wisdom and creativity, and the model of the Chinese nation becoming prosperous and prosperous day by day. At present, the Three Gorges project has achieved the 175 meter experimental water storage goal for 10 years in a row. The great comprehensive benefits such as flood control, shipping, power generation and water supplement have been brought into play. It plays an increasingly important role in the development of the Yangtze River economic belt, and plays an increasingly important role in ensuring the safety of flood control, shipping, water supply, ecological security and energy security in China. Since the water storage operation in 2003, the Three Gorges reservoir has implemented 51 flood blocking operations in total, and twice intercepted the super flood peaks of more than 70000m3 / s, which provides a strong safety barrier for the people in the middle and lower reaches of the Yangtze River. The cargo volume of the Three Gorges Lock has reached 1.377 billion tons over the years, of which, the actual cargo volume of the Three Gorges Lock has exceeded 100 million tons in six years, which is 6 times of the annual maximum freight volume of 18 million tons before the Three Gorges impoundment in 2003, which greatly promotes the development of the shipping along the river and the economic and social development. The Three Gorges power plant has generated more than 1.2 trillion kwh in total over the past year, which is equivalent to saving about 59million tons of raw coal consumption, about 1.18 billion tons of carbon dioxide reduction and 11.18 million tons of sulfur dioxide reduction. Among them, 10.62 billion kwh was generated in 2018, breaking through 100billion kWh for the first time, creating the annual generation record of a single hydropower station in China. By the end of September 2019, the Three Gorges reservoir has accumulated 266.4 billion cubic meters of water supplement downstream, which effectively alleviates the shortage of production and living ecological water in the middle and lower reaches of the Yangtze River.

    With the approval of the state, the Three Gorges group is also responsible for the development, construction and operation of four world-class giant cascade hydropower stations, namely Xiluodu, Xiangjiaba, Wudongde and Baihetan in the lower reaches of Jinsha River. Among them, the installed capacity of Xiluodu and Xiangjiaba hydropower stations are 13860000 kW and 6.4 million KW respectively, and all the units have been completed and put into operation in 2014; the design installed capacity of Wudongde Hydropower Station is 10.2 million KW, and the project has been approved by the state in December 2015 and fully entered the main construction stage; the design installed capacity of Baihetan Hydropower Station is 16million kW, and the project has been completed in July 2017 It has been approved by the state and entered the construction stage of main project in an all-round way. In 2020, Wudongde and Baihetan Hydropower Stations will be built and put into operation successively. At that time, five hydropower stations ranked the top 10 in the world installed capacity will be in the Three Gorges group; more than 2/3 of the hydropower generating units with a single unit capacity of 1 million kW in the world will be in the Three Gorges group.

    The Three Gorges group has earnestly fulfilled the responsibilities and missions given by the state to play the main role of the backbone in the Yangtze River protection, actively build the ecological and environmental protection business sector, accelerate the establishment of physical institutions, strengthen technical support, increase the investment of funds, take urban sewage treatment as the entry point, and implement a number of pilot pilot projects in pilot cities. By October 2019, all five business platforms have been established (established), Yangtze River Ecological Environmental Protection Group Co., Ltd. has been established in Wuhan, with continuous improvement of management structure and standardized operation of decision-making system; the Yangtze River Ecological Environment Engineering Research Center has been operated in entity; and the Yangtze River Ecological Environmental Protection industry alliance, which is jointly participated by more than 50 enterprises including scientific research, design, construction, operation and Finance The first two billion yuan special fund for ecological and environmental protection of the Yangtze River has been established; the Yangtze River green development investment fund has been established in Yichang. The Yangtze River protection has been fully spread, with a total investment of 40.8 billion yuan. The pilot cities of Jiujiang, Yichang, Wuhu and Yueyang have been fully carried out in advance, and 37 sub projects are being constructed. Actively promote the second phase project of pilot cities; the second batch of 12 cooperative cities and counties have completed the docking, among which Chongqing and Wuhan have made important progress. Chongqing has initially defined the scope, construction nodes and objectives, and calculated the total investment of more than 40billion yuan. Wuhan actively promoted the "one lake, one river, one unified new city, one ecological complex" and "capital +" mode, with the total investment of more than 60billion yuan; the total investment and calculation of projects under promotion and planning exceeded 185billion yuan.

    The Three Gorges group also actively develops new energy businesses such as wind power and solar energy, strives to build new energy business as the group's second main business, and is committed to becoming a leader in offshore wind power. As of October 2019, the domestic new energy business of the Three Gorges group has covered 31 provinces, municipalities and autonomous regions, and the installed capacity of the Three Gorges group has exceeded 11 million kilowatts, including 8.97 million kilowatts of offshore wind power in operation, under construction and planned projects, and more than 9.2 million kilowatts of high-quality offshore wind power resources on the 17000 km coastline from Zhuanghe in Dalian to Yangjiang in Guangdong.

    China's one belt, one road construction project is being built up. The Three Gorges group will accelerate the pace of "going out" and strive to build an upgraded version of China's hydropower industry chain. By the end of 2018, the overseas investment and contracting business of the Three Gorges group has covered more than 40 countries and regions in Europe, America, Africa and Southeast Asia, with overseas investment of more than 70 billion yuan, overseas assets of more than 130 billion yuan and overseas controllable and equity installed capacity of more than 17 million kilowatts. The Three Gorges group is the largest shareholder of Portugal electric power company, the largest shareholder of offshore wind power project in Germany, and the largest shareholder of the Three Gorges group Brazil's second largest private power company.

    The Three Gorges group adheres to the spirit of taking responsibility for the country and benefiting the people, respecting life and nature, seeking truth and pragmatism, pioneering and innovation, openness and inclusiveness, win-win cooperation, integrity, honesty and dedication in the new era. It earnestly practices the policy of "building a power station, driving one side's economy, improving one piece of environment and benefiting a group of immigrants", and actively fulfills the social responsibility of central enterprises. While giving full play to the ecological benefits such as flood control and disaster reduction, water resources protection, energy conservation and emission reduction of cascade hubs in the river basin, efforts should be made to integrate the ecological, social and economic benefits of clean energy development through engineering measures, technical means and scientific dispatching. At the same time, the Three Gorges group has also actively participated in targeted poverty alleviation, targeted poverty alleviation, counterpart support, enterprise local co construction, Xinjiang and Tibet assistance and other social welfare activities, constantly promoting the coordination of hydropower development and resettlement, ecological environment protection and local economic and social development, and striving to make the achievements of the company's reform and development benefit more people.

    In 2010, the Three Gorges group set up a board of directors and established a standardized board system. In 2012, the State Council dispatched a board of supervisors to the Three Gorges group. In terms of internal organization, the Three Gorges group currently has Group Office (Party group office and board office), comprehensive management department, strategic development department, assets and finance department, human resources department, science and technology and information department (New Energy Office), environmental protection department, quality and safety department, enterprise management department, legal affairs department, audit department and party Mass Work Department (Party group Publicity Department) There are 17 functional departments and the discipline inspection and supervision group of the group company, including trade union work department, Party committee office directly under the Party committee and Discipline Inspection Commission Office directly under the Party committee, Party group inspection work office, engineering construction management department, electric power production and marketing department, international business department, procurement and material management department; there are River Basin hub operation management center (Three Gorges hub construction operation management center) and immigration work office There are 2 ad hoc organizations, 7 directly affiliated organizations, including the Development Research Institute of the group company, the Party School of the group company, the University of the group company, the audit center of the group company, the news brand center, the information center, and the dam safety supervision and management center, and 5 branches, including the comprehensive energy branch company, Fujian branch company, Tibet branch company, Chongqing branch company, and Guangdong branch company, with a total of 20 branches Among them, there are 2 holding listed companies. As of October 2019, there are more than 24000 employees in the group, including 2 academicians of the Chinese Academy of engineering, 3 National candidates for the project, 3 national outstanding contribution experts, 1 "100 outstanding craftsmen" and 116 experts enjoying special government subsidies.

    Among the wholly-owned and holding subsidiaries, China Three Gorges Construction Management Co., Ltd. is the main body of the group's hydropower project construction management, which is positioned as an engineering construction management and consulting company that can provide customers with system solutions such as project planning, engineering construction, engineering consulting and professional technical services; China Yangtze Power Co., Ltd. is a listed company controlled by the group company, which is the group power company Three Gorges International Energy Investment Group Co., Ltd. is the main body of the group's development of international clean energy investment business; China Three Gorges new energy (Group) Co., Ltd. is the group's main body to build wind power, solar energy and offshore wind power The implementation platform of the "leader" strategy is mainly engaged in the development of new energy such as domestic wind power and solar energy; the Yangtze River Ecological Environmental Protection Group Co., Ltd. is mainly responsible for fulfilling the responsibility and mission of playing a backbone role in the great protection of the Yangtze River; Hubei Energy Group Co., Ltd. is a listed company controlled by the group, which is mainly responsible for the comprehensive energy development and energy supply of Hubei Province Three Gorges Base Development Co., Ltd. is a unified platform providing service guarantee and efficient management for all project bases (camps) of the group, mainly providing comprehensive logistics support services for the group and its subordinate enterprises, and providing professional assistance for engineering construction and power production Three Gorges Capital Holding Co., Ltd. is the main body of the group's capital operation, investment and M & A, which is positioned as the centralized management platform of financial investment and the incubator of new business; Shanghai survey, design and Research Institute is a comprehensive design institute mainly engaged in water conservancy, hydropower, new energy and environmental engineering, which is mainly engaged in engineering survey, design and consulting business; Three Gorges Capital Holding Co., Ltd Financial Co., Ltd. is a non bank financial institution providing services for the group and its affiliated units; Three Gorges asset company is a professional platform for the disposal, operation and revitalization of the group's subsidiary assets; Three Gorges International Tendering Co., Ltd. is mainly engaged in international and domestic bidding agency and contract execution business.

    In the new era, the Three Gorges group, guided by Xi Jinping's new socialist ideology with China's characteristics, has strengthened the "Four Consciousnesses" and always adhered to the "four self confidence". He firmly safeguarded the core position of general secretary Xi Jinping in the Party Central Committee and the whole party, and firmly upheld the party central authority and centralized and unified leadership with Xi Jinping as the core, and resolutely implemented the nineteen spirit of the party. In one belt, one road is to carry out the new development concept and thoroughly carry out the important speech delivered by general secretary Xi Jinping in inspecting the Three Gorges Project and the Three Gorges group. He further optimized and improved the reform and development strategy of the group company: namely, actively serving the "six major strategies", namely, the development of the Yangtze River economic belt, the "one belt and one road" construction, the coordinated development of Beijing Tianjin Hebei, the energy revolution, the manufacturing power and the poverty alleviation. Strategy. Actively build "six platforms", namely the Yangtze River Basin water resources development and reservoir group joint operation and dispatching platform, the Yangtze River protection project implementation platform, the leading China's hydropower industry chain "going out" platform, offshore wind power and other new energy large-scale development platform, the clean energy field industry and finance docking platform, and the hydropower project reservoir area poverty alleviation and development platform. Give full play to the "six roles", that is, to play a basic guarantee role in promoting the development of the Yangtze River economic belt, to play a backbone role in jointly grasping the great protection of the Yangtze River, to play a leading role in leading China's hydropower "going out", to play a leading role in promoting the upgrading of clean energy industry, to play a demonstration role in deepening the reform of state-owned enterprises, and to play a leading role in fulfilling corporate social responsibility Face to face, play an exemplary role. Properly handle the "three relationships", that is, properly handle the relationship between economic benefits and social benefits, properly handle the relationship between business functions and public welfare functions, properly handle the relationship between market-oriented operation and social responsibility, and ensure the unity of political benefits, economic benefits and social benefits. Strive to achieve the "three leading", namely, leading the global hydropower industry to become a leader in the sustainable development of the global hydropower industry, leading China's hydropower industry to "go global", becoming a leader in the "go global" of China's hydropower industry chain, and leading offshore wind power to become a leader in the innovative development of new energy sources such as offshore wind power. Efforts should be made to complete the "five major transformations", that is, to realize the transformation from the construction of major projects to the real market main body, from a single hydropower enterprise to the world's leading clean energy group, from the main domestic to the domestic and international clean energy multinational group, from "building the Three Gorges and developing the Yangtze River" to "managing the Three Gorges and protecting the Yangtze River", and from building a great industrial park Cheng to build a great enterprise. Actively extend to both ends, that is, promote the company's industrial chain to extend to both ends of water resources development and protection and power distribution business, and contribute to the protection of China's fresh water resources and the promotion of power system reform and mixed ownership reform. Strive to initially build a world-class clean energy group with global competitiveness by the end of the 13th five year plan.