GreenergyDaily
August 29, 2023
1. China's largest oil-and-gas field Changqing oilfield has produced over 600 bln m3 of natural gas since it started operation, equivalent to China's 2-year natural gas consumption and can replace 720 mln tonnes of standard coal and cut carbon emissions by 1.657 bln tonnes.
2. BYD Co. posted a sharp rise in first-half net profit as its electric vehicle sales surged amid strong demand. The company, which also makes handset components, said Monday after market close that its net profit for the period ended June was 10.95 billion yuan ($1.50 billion) compared with CNY3.59 billion a year earlier. Revenue rose 73% to CNY260.12 billion, benefiting from the strong EV sales. The company's first-half gross profit more than doubled from the same period last year, while vehicle sales nearly doubled, keeping BYD's global No. 1 ranking in EV sales.
3. TCL Zhonghuan (SZ: 002129) released its semi-annual report for 2023. The operating income in the first half of the year was CNY 34.898 billion, a year-on-year increase of 10.09%; the net profit attributable to shareholders of listed companies was CNY 4.536 billion, a year-on-year increase of 55.5%; Earnings per share were 1.13 yuan.
4. Chinese state-owned oil and gas giant CNOOC and Brazilian state oil firm Petrobras signed a memorandum of cooperation today. The agreement aims to enhance collaboration in the areas of oil and gas exploration and development, refining and chemical industry, green and low carbon, and crude oil trade.
5. Brazilian state-run oil company Petrobras said on Monday it has signed a memorandum of understanding with China Development Bank and Bank of China to partner on a range of projects. In a securities filing, Petrobras said the non-binding agreements, set to cover low carbon initiatives, green finance, supply chain investments, and trade exchanges, have a 5-year deadline and are aligned with its 2024-28 strategic plan, according to Reuters.
6. As of the end of July, the installed capacity of clean energy in E China's Zhejiang Province reached 57.51 mln kW, surpassing that of coal power units for the first time, according to the latest data from State Grid Zhejiang Electric Power Co., Ltd. Of the total installed power capacity of Zhejiang, clean energy accounted for 46%, coal 40.1%, natural gas power 10.7%, and the remaining 3.2% held by other sources, according to the company.
7. On August 29, Mingyang Electric (SZ: 301291) released its semi-annual report for 2023. In the first half of the year, it achieved revenue of CNY 1.899 billion, up 64.77% YoY; the net profit attributable to shareholders of listed companies was CNY 163 million, up 70.53% YoY: Basic earnings per share were 0.63 yuan.
8. On August 29, GoodWe (SH: 688390) released its semi-annual report for 2023. In the first half of the year, the operating income was CNY 3.814 billion, up 162.61% YoY; the net profit attributable to shareholders of listed companies was CNY 741 million, up 1256.2% YoY.
9. Premium German automaker BMW launched five new energy models at the ongoing Chengdu motor show in Southwest China's Sichuan province on Friday, providing Chinese customers with new choices in almost every niche segment.
10. Profits at China’s state-owned enterprises climbed 3.9% in the first seven months from a year ago to CNY2.7 trillion (USD374 billion), the Ministry of Finance said today. Revenue jumped 4.3% to CNY47.7 trillion (USD6.5 trillion).
