GreenergyDaily
August 22, 2023
1. CRRC Sifang, a unit of China Railway Rolling Stock — the country's largest rolling stock manufacturer by production volume — was officially awarded the contract to build multiple electric units for Chilean State Railways, also known as EFE. In a collaborative effort, a consortium of CRRC Sifang and local partner Temoinsa will supply 32 three-car units for Santiago's suburban services.
2. According to PetroChina on Monday, as of August 18, the cumulative natural gas production of PetroChina's Changqing Oilfield in 2023 exceeded 600 bln cubic meters, equivalent to the total natural gas consumption in China for two years, which can replace 720 mln tons of standard coal and reduce carbon emissions by 1.657 bln tons.
3. World's largest pumped-storage power station at an altitude above 3,500 meters has started construction in NW China's Qinghai. With an installed capacity of 2.4 million kW, the project can generate over 4.8 bln kWh of electricity a year upon completion in 2030.
4. On August 21, Li Xiang, the CEO of Li Auto (HK: 02015), launched a course on the knowledge learning platform, priced at CNY 99. As of press time, a total of 15,200 people have joined the study. Li Xiang said that this course is a systematic summary of his own experience in operating products for more than 20 years.
5. In the first half of 2023, Geely Auto (HK: 00175) reported an operating income of CNY 73.18 bln, up 26% YoY; net profit of CNY 1.6 bln (USD218 mln), up 1% YoY, the Chinese automaker said today. Revenue jumped 26% to CNY 73.2 bln (USD10.1 bln), and sales rose 13% to 694,045 units in the period.
6. A new 10 billion-m3 gas field in SW China has been discovered after another 30.55 billion m3 of proven geological reserve of natural gas was detected in the Sichuan Basin. The basin boasts the largest amount of natural gas resources as well as production across the country.
7. On August 21, according to the semi-annual report of Goldwind (SZ: 002202), the company achieved an operating income of CNY 19 billion in the first half of 2023, up 14.03% YoY; net profit was CNY 1.251 billion, a year-on-year decrease of 34.82%.
8. China's Tongwei Group said profit rose 8.6 percent in the first half from a year earlier despite tumbling polysilicon material prices. The world's largest producer of solar silicon also revealed plans to build two new plants to make high-efficiency solar batteries. Net profit was CNY13.3 bln (USD1.83 bln) in the six months ended June 30, the Chengdu-based firm said in a semi-annual earnings report yesterday.
9. Hozon Auto, the owner of the Chinese electric vehicle brand Neta, will kick off production at its new plant that will make core parts under the tech brand Haozhi brand next month.
10. China and South Africa need to further synergize development strategies, promote stronger cooperation in infrastructure, digital economy, scientific and technological innovation, and energy transition, and ensure that more people of our two countries will benefit from the development outcomes, according to a signed article by Chinese President Xi Jinping published Monday on South African media as he is going to attend the 15th BRICS Summit.
