State Power Investment Corporation Explained

State Power Investment Corporation should not be confused with State Power Corporation of China.

State Power Investment Corporation
Trade Name:SPIC
Type:State-owned enterprise
Products:Electricity generation (thermal, hydro, wind power, nuclear)
Services:Nuclear power plant design

State Power Investment Corporation Limited (abbreviation SPIC) is one of the five major electricity generation companies in China. It was the successor of China Power Investment Corporation after it was merged with the State Nuclear Power Technology Corporation (SNPTC) in 2015.

SPIC is the parent company of listed companies China Power International Development (known as China Power), Shanghai Electric Power, Yuanda Environmental Protection, etc.

History

See also: China Power Investment Corporation. In 2015 China Power Investment Corporation (also known as CPI Group) and State Nuclear Power Technology Corporation (abb. SNPTC) merged.[1] Before the deal, they were both directly owned by and majority controlled by the State-owned Assets Supervision and Administration Commission of the State Council respectively. China Power Investment Corporation was the surviving legal person, but renaming to State Power Investment Corporation, while State Nuclear Power Technology Corporation became a subsidiary. SPIC also re-incorporated as a limited company from Industrial Enterprise Owned by the Whole People legal form in 2017.[2] One of the last leader of CPI Group, Li Xiaolin who also chaired in the boards of the listed subsidiary and associate company, such as China Power International Development (also known as China Power)[3] and China Power New Energy Development,[4] was re-appointed by the central government to another state-owned enterprise China Datang Corporation in 2015.[5] Li Xiaolin was one of the key person in the entire history of CPI Group, which was founded in 2003, as well as its predecessor China Power International Holding (also known as CPI Holding), which was founded in 1994. Another leader of former CPI Group,, also left the company in 2015. Former chairman of State Nuclear Power Technology Corporation,, became the first chairman of SPIC. Previously CPI Group did not have the position of chairman, which the job title of Lu Qizhou was general manager; the former [joint-]deputy general manager of CPI Group, Meng Zhenping, was promoted to general manager.[6] Overall, half of the corporate managers were from former SNPTC and half from CPI Group.[7]

After the merger SPIC had the license to run nuclear power plant in China, as well as the ability to design and build one, making the group had conventional mean on power generation as well as using nuclear fission.

On 28 December 2017 SPIC also recapitalized one of the subsidiary and intermediate holding company China Power Development by issuing non-voting convertible preferred shares to Seth Holdings, making CNIC Corporation the parent company of Seth Holdings, a state-owned enterprise and investment company, could gain significant control on China Power International Development by excise the rights to convert the preferred shares to ordinary share of China Power Development.

Subsidiaries

Name short name / abb. Chinese name ownership ratio place of incorporation footnotes
SNPTC 76%[8] Mainland China owned directly
China Power International Holding CPI Holding 100% Hong Kong owned directly
China Power Development CPDL
(not registered as official name)
British Virgin Islands owned via CPI Holding
China Power 55.61%[9] Hong Kong owned via CPI Holding and CPDL; listed company
Shanghai Electric Power SEP 49.41%[10] Mainland China owned directly; additional 15.08% via China Power; listed company
SPIC Yuanda Environmental Protection SPICYD 43.74%[11] Mainland China owned directly; listed company
Huanghe Hydropower Development Mainland China
China Power Investment Nuclear Power Mainland China
Shandong Nuclear Power Mainland China operator and constructor of Haiyang Nuclear Power Plant[12]
Asset Management CompanyAMCChinese

资产管理公司

Mainland China

Equity investments

International business

State Power Investment Corporation is involved in developing, building, and operating hydropower facilities in Brazil.[15]

Notes and References

  1. News: Chinese nuclear giant officially launched. 16 July 2015. World Nuclear Association. 4 May 2015.
  2. http://www.spic.com.cn/ttxw/201801/t20180117_284896.htm. zh:国家电投顺利完成公司制改制 由全民所有制企业改制为国有独资公司. 18 January 2017. 1 July 2018. State Power Investment Corporation. zh-cn.
  3. Book: 2014 Annual Report. 27 April 2015. 29 June 2018. China Power International Development.
  4. Book: 2014 Annual Report. 21 April 2015. 29 June 2018. China Power New Energy Development. Hong Kong Exchanges and Clearing website.
  5. News: Top power industry job for Li Xiaolin, daughter of former Chinese premier. 8 July 2015. 1 July 2018. South China Morning Post. Hong Kong.
  6. News: http://www.chinadaily.com.cn/interface/toutiao/1138561/2015-6-2/cd_20864348.html. zh:中国核电“第三极”诞生:61岁王炳华掌舵国电投. 吴桂霞. China Daily (online Chinese section). zh-cn. 30 May 2015. 1 July 2018.
  7. News: http://news.163.com/15/0616/10/AS7NSA5K00014JB5.html. zh:国资委发布国电投新领导班子成员名单 无李小琳. 16 June 2015. 1 July 2018. 中国经济网. zh-cn. NetEase.
  8. Book: https://www.shclearing.com/xxpl/cwbg/nb/201704/t20170429_254343.html. zh:国家核电技术有限公司关于披露2016年年度报告的公告. 2016 Annual Report. 29 April 2017. 1 July 2018. State Nuclear Power Technology Corporation. zh-cn. Shanghai Clearing House.
  9. Book: http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0417/LTN201804171079.pdf. 2017 Annual Report. Report of the Board of Directors. 78. China Power International Development. 17 April 2018. 1 July 2018. Hong Kong Exchanges and Clearing website.
  10. Book: http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2018-04-03/600021_2017_n.pdf. 普通股股份变动及股东情况. zh:2017年年度报告. 2017 Annual Report. Shanghai Electric Power. zh-cn. Shanghai Stock Exchange website. 3 April 2018. 1 July 2018.
  11. Book: http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2018-03-28/600292_2017_n.pdf. 普通股股份变动及股东情况. zh:2017年年度报告. 2017 Annual Report. Yuanda Environmental Protection. zh-cn. Shanghai Stock Exchange website. 28 April 2018. 1 July 2018.
  12. Web site: http://www.sdnpc.com/aboutus/index.html. zh:公司简介. about us. 1 July 2018. Shandong Nuclear Power. zh-cn.
  13. Book: http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0418/LTN20180418575.pdf. 2017 Annual Report. 18 April 2018. Directors' report. China Power Clean Energy Development. Hong Kong Exchanges and Clearing website. 1 July 2018.
  14. Web site: Shareholders. 1 July 2018. Companhia de Electricidade de Macau.
  15. Book: Lewis, Joanna I. . Cooperating for the Climate: Learning from International Partnerships in China's Clean Energy Sector . 2023 . . 978-0-262-54482-5 . Cambridge, Massachusetts.