China Power International Development Limited provided preliminary unaudited consolidated group earnings guidance for the year ended 31 December 2022. For the year, the group expects the profit attributable to equity holders of the Company will be between RMB 2.3 billion to RMB 2.7 billion. Compared with the loss in 2021, the Group's financial performance in 2022 will record a significant improvement and a turnaround from loss to profit.

The improvement in financial results was mainly attributable to a substantial increase in revenue and operating profit generated from photovoltaic power and wind power generation; a gain arising from the disposal of 60% equity interest in (Xinyuan Ronghe (Beijing) Power Co. Ltd.) of approximately RMB 650 million; and a gain on acquisition of 23 companies from (China Power International New Energy Holding Limited) and China Power (New Energy) Holdings Limited (the Acquisitions) of approximately RMB 1.5 billion in accordance with the applicable accounting standards, arising from the difference between the share-based part of the consideration for acquisition of the target companies and the fair value of the acquired net assets due to changes in share price at the time of completion as compared to the time of entering into agreements.