State Power Investment Corporation

{{Infobox company | name = State Power Investment Corporation | trade_name = SPIC | logo = State Power Investment Corporation logo.png | logo_size = | logo_alt = | logo_caption = | logo_padding = | image = | image_size = | image_alt = | image_caption = | native_name = | native_name_lang = | type = [[State-owned enterprise]] | predecessor = {{bullet list|[[China Power Investment Corporation]]|[[State Nuclear Power Technology Corporation]]}} | industry = {{ubl|Utility|engineering}} | founded = | founder = | former_name = | hq_location = | hq_location_city = | hq_location_country = | area_served = | num_locations = | num_locations_year = | num_employees = | num_employees_year = | key_people = | brands = | products= Electricity generation (thermal, hydro, wind power, nuclear) | services = Nuclear power plant design | revenue = | revenue_year = | operating_income = | income_year = | net_income = | net_income_year = | assets = | assets_year = | equity = | equity_year = | owner = | parent = | subsid = {{aligned table|[[State Nuclear Power Technology Corporation|SNPTC]]|(76%)|[[China Power International Development|China Power]]|(55.61%)|[[Shanghai Electric Power]]|(49.41%)|[[Yuanda Environmental Protection]]|(43.74%)}} | website = {{url|www.spic.com.cn}} | footnotes = }}

'''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.<ref>{{cite web|url=https://www.world-nuclear-news.org/Articles/Chinese-nuclear-giant-officially-launched|title=Chinese nuclear giant officially launched|date=16 July 2015|publisher=World Nuclear Association|url-status=live |archive-url=https://web.archive.org/web/20150806015115/http://www.world-nuclear-news.org/C-Chinese-nuclear-giant-officially-launched-1607155.html |archive-date=6 August 2015|accessdate=25 January 2025}}</ref> 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 [[Law of Industrial Enterprises Owned by the Whole People|Industrial Enterprise Owned by the Whole People]] legal form in 2017.<ref>{{cite press release|url=http://www.spic.com.cn/ttxw/201801/t20180117_284896.htm|script-title=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|date=18 January 2017|accessdate=1 July 2018|publisher=State Power Investment Corporation|language=zh-cn}}</ref> 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)<ref>{{cite book|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2015/0427/LTN20150427885.pdf|title=2014 Annual Report|date=27 April 2015|accessdate=29 June 2018|publisher=China Power International Development}}</ref> and [[China Power New Energy Development]],<ref>{{cite book|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2015/0421/LTN20150421371.pdf|title=2014 Annual Report|date=21 April 2015|accessdate=29 June 2018|publisher=China Power New Energy Development|via=Hong Kong Exchanges and Clearing website}}</ref> was re-appointed by [[State-owned Assets Supervision and Administration Commission|the central government]] to another state-owned enterprise [[China Datang Corporation]] in 2015.<ref>{{cite news|url=https://www.scmp.com/news/china/policies-politics/article/1834390/top-power-industry-job-li-xiaolin-daughter-former|title=Top power industry job for Li Xiaolin, daughter of former Chinese premier|date=8 July 2015|accessdate=1 July 2018|work=South China Morning Post|location=Hong Kong}}</ref> 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, {{ill|Lu Qizhou|zh|陆启洲}}, also left the company in 2015. Former chairman of State Nuclear Power Technology Corporation, {{ill|Wang Binghua|zh|王炳华}}, 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 ({{zh|s=孟振平}}), was promoted to general manager.<ref>{{cite news|url=http://www.chinadaily.com.cn/interface/toutiao/1138561/2015-6-2/cd_20864348.html|script-title=zh:中国核电“第三极”诞生：61岁王炳华掌舵国电投|editor=吴桂霞|work=[[China Daily]] (online Chinese section)|language=zh-cn|date=30 May 2015|accessdate=1 July 2018}}</ref> Overall, half of the corporate managers were from former SNPTC and half from CPI Group.<ref>{{cite news|url=http://news.163.com/15/0616/10/AS7NSA5K00014JB5.html|script-title=zh:国资委发布国电投新领导班子成员名单无李小琳|date=16 June 2015|accessdate=1 July 2018|website= 中国经济网|language=zh-cn|via=NetEase}}</ref>

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,<ref name=CPID2017AR/> making [[CNIC Corporation]] ({{zh|s=国新国际投资}}) 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== {{updated|31 December 2017}} {| class="wikitable" |- ! Name !! short name / abb. !! Chinese name || ownership ratio || place of incorporation || footnotes |- | [[State Nuclear Power Technology Corporation]] || SNPTC || {{zh|s=国家核电技术有限公司}} || 76%<ref>{{cite book|url=https://www.shclearing.com/xxpl/cwbg/nb/201704/t20170429_254343.html|script-title=zh:国家核电技术有限公司关于披露2016年年度报告的公告|trans-title=2016 Annual Report|date=29 April 2017|accessdate=1 July 2018|publisher=State Nuclear Power Technology Corporation|language=zh-cn|via=Shanghai Clearing House}}</ref> || Mainland China || owned directly |- | China Power International Holding || CPI Holding || {{zh|t=中國電力國際有限公司}} || 100%<ref name=CPID2017AR/> || Hong Kong || owned directly |- | China Power Development || CPDL || {{zh|t=中國電力發展有限公司}} (not registered as official name) || {{ubl|100% ordinary share|0% preferred share<ref name=CPID2017AR/>}} || British Virgin Islands || owned via CPI Holding |- | [[China Power International Development]] || China Power || {{zh|t=中國電力國際發展有限公司}} || 55.61%<ref name=CPID2017AR>{{cite book|chapter-url=http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0417/LTN201804171079.pdf|title=2017 Annual Report|chapter=Report of the Board of Directors|page=78|publisher=China Power International Development|date=17 April 2018|accessdate=1 July 2018|via=Hong Kong Exchanges and Clearing website}}</ref> || Hong Kong || owned via CPI Holding and CPDL; listed company |- | Shanghai Electric Power || SEP || {{zh|s=上海电力股份有限公司}} || 49.41%<ref>{{cite book|chapter-url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2018-04-03/600021_2017_n.pdf|chapter=普通股股份变动及股东情况|script-title=zh:2017年年度报告|trans-title=2017 Annual Report|publisher=Shanghai Electric Power|language=zh-cn|via=Shanghai Stock Exchange website|date=3 April 2018|accessdate=1 July 2018}}</ref> || Mainland China || owned directly; additional 15.08% via China Power; listed company |- | SPIC Yuanda Environmental Protection || SPICYD || {{zh|s=国家电投集团远达环保股份有限公司}} || 43.74%<ref>{{cite book|chapter-url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2018-03-28/600292_2017_n.pdf|chapter=普通股股份变动及股东情况|script-title=zh:2017年年度报告|trans-title=2017 Annual Report|publisher=Yuanda Environmental Protection|language=zh-cn|via=Shanghai Stock Exchange website|date=28 April 2018|accessdate=1 July 2018}}</ref> || Mainland China || owned directly; listed company |- | Huanghe Hydropower Development || || {{zh|s=黄河上游水电开发有限责任公司}} || || Mainland China || |- | China Power Investment Nuclear Power || || {{zh|s=中电投核电有限公司}} || || Mainland China || |- | Shandong Nuclear Power || || {{zh|s=山东核电有限公司}} || || Mainland China || operator and constructor of [[Haiyang Nuclear Power Plant]]<ref>{{cite web|url=http://www.sdnpc.com/aboutus/index.html|script-title=zh:公司简介|trans-title=about us|accessdate=1 July 2018|publisher=Shandong Nuclear Power|language=zh-cn}}</ref> |- |Asset Management Company |AMC |[[Chinese language|Chinese]]: 资产管理公司 | |Mainland China | |} {{expand list|date=June 2018}}

==Equity investments== {{updated|31 December 2017}} * [[China Power Clean Energy Development]] (28.07% indirectly as the largest shareholder)<ref>{{cite book|chapter-url=http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0418/LTN20180418575.pdf|title=2017 Annual Report|date=18 April 2018|chapter=Directors' report|publisher=China Power Clean Energy Development|via=Hong Kong Exchanges and Clearing website|accessdate=1 July 2018}}</ref> * [[Companhia de Electricidade de Macau]] (6% via CPI Holding)<ref>{{cite web|url=https://www.cem-macau.com/en/about-cem/company-profile/shareholders/|title=Shareholders|accessdate=1 July 2018|publisher=Companhia de Electricidade de Macau}}</ref>

== International business == State Power Investment Corporation is involved in developing, building, and operating hydropower facilities in Brazil.<ref name=":0">{{Cite book |last=Lewis |first=Joanna I. |title=Cooperating for the Climate: Learning from International Partnerships in China's Clean Energy Sector |date=2023 |publisher=The [[MIT Press]] |isbn=978-0-262-54482-5 |location=Cambridge, Massachusetts}}</ref>{{Rp|page=207}}

==References== {{reflist}}

==External links== * {{official website|www.spic.com.cn}} {{in lang|zh|en}}

[[Category:Nuclear power companies of China]] [[Category:Companies based in Beijing]] [[Category:Government-owned companies of China]] [[Category:Government-owned electric power companies of China]] [[Category:Energy companies established in 2015]] [[Category:Chinese companies established in 2015]]