CHINA GUODIAN CORPORATIONNO.6-8, Fuchengmen Bei Street, Xicheng District Beijing, 100034

Telephone:+86-10-58682001Fax:+86-10-58553980

Web Site:www.cgdc.com.cn

Message from the President

Executives of the Corporation

Corporation Profile

Development Strategy

Corporate Governance

Business Overview

Corporate Culture

Social Responsibility

02

05

06

09

13

21

38

40

CONTENTS

Emancipating Our Minds Reform and Innovation Scientific Development Constructing Harmony

China Guodian Corporation, as a key state-owned enterprise with the vital importance on

the national economy lifeline and state energy safety, is responsible not only for keeping and

increasing in state owned assets value by creating its material wealth, but also for creating

spiritual and intellectual wealth to maximize economic and social benefits.

Standing High and Aiming FarWe always persist in structure optimization and adhere to sustainable development. While

keeping an appropriate pace of development, we pay much attention to structure optimization

and clean and renewable energy development. Now the industrial system with a certain

scale and relative perfect industrial chain have been formed.

Giving Science and Technology PriorityAdhering to independent research and development, we always take the way of innovation.

With high-tech industries continuously growing stronger, a number of energy saving and

environmental protection technologies have reached the international advanced level.

Notably, some new and high technologies focusing on new energy begin to take shape and

will lead the power generation and related business to a new and higher level.

Equal Attention on Public WelfareWe always undertake responsibilities and take the harmonious road of development. We

persist in the principle of people-oriented and co-win of human and enterprises to realize the

growth of both business and staff simultaneously. And we consciously take the responsibility

of energy-saving and environment protection, actively participate in social welfare to promote

the sustainable development of economy, society and environment together.

Dreams Lead Future, Endeavor Realizes ExcellenceChina Guodian Corporation is willing to cooperate with peers in and outside China to

establish cooperative relationship with mutual trust and in win-win mode, gets ready to face

challenge for a greener world and make greater contribution to building up a harmonious

society and harmonious world.

02-03

Message from the President

President Party Secretary

ZHU YongpengPresidentChina Guodian Corporation

QIAO BaopingParty Secretary China Guodian Corporation

04-05

Executives of the Corporation

1 2

3 4 5

6 7 8 9

1 ZHU Yongpeng President

2 QIAO Baoping Party Secretary Executive Vice President

3 YANG Haibin Executive Vice President

4 YU Chongde Executive Vice President

5 ZHANG Guohou Chief Accountant

6 GAO Song Executive Vice President

7 ZHANG Chengjie Executive Vice President

8 GUO Ruiting Head of Discipline & Inspection Group 9 Mi Shuhua Executive Vice President

STRICT EFFICIENT FAIR HARMONIOUS

China Guodian Corporation, as one of the largest nation-wide power groups, was established on December 29, 2002. China Guodian mainly engages in the development, investment, construction, operation and management of power generation, and the sales of power (and heat). China Guodian also engages in the investment, construction, operation and management of the business relevant to its core business, such as coal, power generation equipment, new energy, transportation, high-tech, environment protection, technical services and consultancy. And it is also involved in investment, financing, and international trade, economic cooperation, international project contracting and international laboring service.

China Guodian Corporation currently owns 39 secondary enterprises and holds 260 subsidiaries. It owns 4 Chinese A-share listed companies, the GD Power Development Co. Ltd, Guodian Changyuan Power Co., Ltd, Inner Mongolia Pingzhuang Energy Resources Co .Ltd, and Ningxia Younglight Chemicals Co.Ltd, 1 listed companies in Hongkong, China Longyuan Power Group Corporation Ltd. China Guodian covers 31 provinces (autonomous regions and municipalities) with over 120,000 employees. By March 2010, the total assets has reached 445.99 billion RMB Yuan. The total controllable installed capacity reached 83,053 MW, among which the wind power installed capacity ranks the 5th in the world and the 1st in Asia.

China Guodian conforms to the energy industry development trend, and always adheres to the scientific development as the top priority. While expanding the scale, China Guodian pays more attention to quality improvement, energy saving and emission reduction, increase the proportion of units of larger capacity, higher parameter and clean energy. China Guodian keeps and adds value of state assets and better fulfills the responsibility as a state-owned enterprise. Under the management of new leading members, China Guodian sets up the strategy of enhancing the new energy development and building up innovative enterprise, the enterprise vision of “home, stage and dream”, the working thought which include 5 focuses and 5 enhancements. All the efforts are contributed to build up a leading comprehensive power group, aimed at being listed in the world's top 500 enterprises as soon as possible.

Distribution Map of Branches of Guodian

06-07

Corporation Profile

08-09

Development Strategy

Wind Farm in Xinjiang

Following the principle of “emancipating minds, reforming and innovation, scientific development and building up harmony”, focusing on enterprise transformation, potential tapping, improving quality, creating first-class” as the central task, China Guodian sets up the strategic development of transforming the enterprise by promoting new energy development, strategic guarantee of building up innovative enterprise and facilitates realizing the objective to grow up to first-class comprehensive power group.

Promote New Energy DevelopmentBy widely applying new energy technology, we retrofit and upgrade the traditional fossil energy utilization, and promote the development of clean energy and renewable energy. Meanwhile, China Guodian enhances the high technologies development on new energy and strengthens the enterprise hard power of scientific development.

Build up Innovative EnterprisesChina Guodian takes great efforts to transform the management and operation mechanism, strengthen innovation on corporate management, institutional mechanisms, personnel and talent cul t ivat ion and etc. China Guodian takes innovation as the significant development strategy and approach to enhance the soft power of scientific development.

5 Focuses

Focus on promoting clean coal power generation technology to build up environmental friendly coal-fired power plants

Focus on improving the scale and quality of hydropower development to increase the proportion of renewable energy

Focus on developing wind power, solar energy, nuclear power, as well as other clean and renewable energy to take the commanding height of new energy development

Focus on promoting comprehensive development and utilization of coal, and construction of large low-carbon energy bases

Focus on developing high-tech on new energy to form a leading cluster of new industry

10-11

Guodian Taizhou Coal-fired Power Plant Guodian Wan'an Hydropower Station

12-13

Corporate Governance

Installed Capacity Increase of China Guodian Corporation (2002-2009) Unit: in MW

Total Assets Increase for China Guodian Corporation (2002-2009) Unit: in million RMBYuan

25,343 29,303.935,060

44,452.5

60,06070,235

82,030

22,129

66,750 75,270 101,040132,290

193,180250,000

303,800

418,860

China Guodian is committed to building up a mechanism which is dynamic, simple,

efficient and smooth, to establishing and improving modern corporate system, to perfecting

corporate governance system and advancing integrated management to realize more

efficient management.

China Guodian sets up three-level management system and improves the responsibilities of subsidiaries. China Guodian makes the decision-making in a more scientific and efficient way by improving corporate governance structure and enhancing institutional management. China Guodian promotes the integrated management which facilitates the more simple and efficient working of all level subsidiaries.

Scientific management

14-15

Tapping Potential and Increasing BenefitsChina Guodian spares no efforts to tap the potential in all-round way. Both the quality and benefit of the existing assets were continuously improved. The average profitability per kWh is higher than the national average.

Management Innovation Persisting in elaborate management and sustainable innovation, China Guodian builds up a management mechanism which is reasonably structured, advanced, scientifically processed, economically benefiary. Perfects the examination and evaluation system and forms the hierarchical implementation of the responsibility.

16-17

The coal consumption per kWh generation (2002-2009) Unit: g/kWh

The annual power generation volume (2002-2009) Unit: GWh

5 Enhancements

Enhancing the operation and management innovation

Enhancing the system mechanism innovation

Enhancing the science and technology innovation

Enhancing the talent development innovation

Enhancing the corporate culture work innovation

121,930137,100

168,100190,400

225,912264,000

297,800

353,200

Benchmark interest rate Actual comprehensive interest rate

Guodian has absorbed and introduced 68.1billion RMB Yuan of low-cost funds in 2009

18-19

Capital OperationChina Guodian constantly innovates the capital and funds operation method and resulted in advantageous capital operation and higher financial management level. China Guodian also built up integrated operation platform on financial management and improved risk-control system.

In 2009, China Guodian directly financed 38.4 billion RMB Yuan(about 5.6 billion USD), including 22 billion RMB Yuan (3.2 billion USD) in equity financing and hit a record high. China Longyuan Power Group Corporation Ltd, controlled by China Guodian, was successfully listed in Hong Kong Exchange. It raised 17.7 billion RMB Yuan (2.6 billion USD) in IPO and created new record among the Chinese listed power companies in terms of finance scale and P/E ratio. It is the third largest IPO among renewable energy enterprises all over the world since 1999.

727 million RMB Yuan saved by loan replacement

498 million RMB Yuan saved by notes of settlement

306 million RMB Yuan saved in the introduction of the trust fund

87million RMB Yuan saved by issuing medium-term notes

15million RMB Yuan saved in issuing short-term financing bonds

Downward of short-term financing bonds

Downward of the medium-term notes

Downward of the trust capital

498 million yuan

727 million yuan

306 million yuan

87 million yuan

15 million yuan

China Guodian saved more than 1678 million RMB Yuan in interest expenditure in 2009

20-21

Business Overview

Power Generation

Finance Business

Coal Business

Sci-Tech and EnvironmentalProtection Business

Coal-fired power installed capacity 70,250MW

Hydropower installed capacity 6,376MW

Windpower installed capacity 5,345MW

Biomass installed capacity is 54MW

Power Generation

By the end of December 2009, China Guodian Corporation reached 82,030MW in controllable installed

capacity, including 70 250.5MW coal-fired installed capacity , taking 85.64%, 6,376 MW hydropower

(including 3.9MW tidal wave generation), occupying 7.77% , 5,345.2MW wind power capacity , accounting

for 6.52%, 54MW biomass installed capacity standing for 0.07%. There are 44 sets of coal-fired power units

of single unit capacity exceeded 600MW, taking 39.72% of total coal-fired units and 300MW and above

takes 84.41%. The wind power installed capacity ranks the 5th in the world and the 1st in Asia. The tidal

wave power installed capacity ranks the 3rd in the world and the 1st in Asia.

22-23 Guodian Power Plant in Taizhou

Coal-fired Power China Guodian promotes larger capacity, higher parameter and co-generation power units. By the end of December 2009, the coal-fired power installed capacity reached 70 250MW and there are 6 units in 1000MW Level. Guodian Beilun Power Plant, with the total installed capacity of 5,000 MW (2×1000MW and 5×600MW), is the largest coal-fired power plant in China.

24-25

Guodian Jiangyin Sulong Power Plant

Guodian Jianbi Power Plant

Guodian Power Plant in Beilun

HydropowerFocusing on cascade development along Daduhe River Basin in Sichuan province, the all-round hydropower

development has been started simultaneously on large, medium and small hydropower stations, along

Kaiduhe River, Akesu River and Jinghe River in Xinjiang Autonomous Region, as well as Amojiang River in

Yunnan province. In 2009, the first two units with total capacity of 1,200MW at Pubugou hydropower station

along Daduhe River were put into operation.

26-27

Guodian Jilintai Hydropower StationGuodian Wan'an Hydropower Station Guodian Nanhe Hydropower

StationGuodian Daduhe River Gongzui

Hydropower Station.

Guodian Pubugou Hydropower Station

Wind Power GenerationWind power generation, one of the predominant business of China Guodian, ranks the 5th in the world and the 1st in Asia. China Guodian has built up 6 large wind power bases of 1000 MW level, and constructed the first offshore tidal zone wind power units in China. It ranks 1st in terms of newly installed and operated capacity, generation volume and profitability in China.

Guodian Zhejiang Donghaitang Wind Power Farm

Guodian Jiangsu Rudong Wind Power Farm

Guodian Chengde Weichang Wind Power Farm

Guodian Jiangsu Rudong Offshore Tidal Zone Trial Wind Power Farm

28-29

Left picture: 700 kW New Tidal Wave Generator by Longyuan Group

Middle picture: Tibet Yangbajing Geothermal Power Plant under Construction

Right picture: Bird’s Eye View of Tangyuan Biomass Generation

30-31

Biomass Power GenerationChina Guodian has built up and operated biomass power plants, such as Guodian Tangyuan, Donghai and Liaocheng etc, with total installed capacity of 54MW.

Tidal Wave Power GenerationChina Guodian has the largest tidal wave power station in Asia, Guodian Jiangsha Tidal Wave Power Station, with installed capacity of 3.9 MW.

Solar Power GenerationChina Guodian started construction and preparation work for solar power projects in Ningxia, Tibet, Xinjiang and Qinghai where are rich in solar energy resources. Guodian Longyuan Geermu photovoltaic power generation project, with 20MW, is the largest solar power project in China.

Geothermal Power GenerationChina Guodian developed geothermal power generation. Guodian Yangbajing Power Station is the biomass station constructed with the highest altitude in the world.

China Guodian owns a number of enterprises with high-tech expertise of advanced technologies on

energy saving and manufacturing business, mainly including plasma ignition technology, air cooling

technology, desulfurization and de-NOx technology, automatic control of large coal-fired power units,

wind turbine manufacturing, solar energy, informatization business etc.

32-33

China Guodian owns the most professional company majoring in desulfurizat ion with total; reference of 77,783MW accumulative capacity. I t has also succeeded in the first seawater desulfurization project of 1000MW ultra- supercritical unit in the world. The annual SO2 reduction exceeded 1 million tons.

Desulfurization and DeNOx Engineering

Plasma ignition technology was independent innovated by China Guodian and was successfully applied in coal-fired units with over 220,000MW capacity. It was also adopted in South Korea, Russia, Indonesia and India etc.

Plasma Ignition Technology

Energy Conservation and Environmental Protection

Air cooling system, another independent innovation technology designed by China Guodian, saved more than 4/5 cooling water consumption, compared with the water-cooling units. It was adopted for more than 140,00MW capacity units and saved 160million tons of water accumulatively.

Air-Cooling in Power Station

Sci-Tech and EnvironmentalProtection Business

Wind Turbine Manufacturing C h i n a G u o d i a n i s b u i l d i n g u p w ind tu rb ine manufac tur ing bases successively in Baoding, Lianyungang and Ch i feng w i th the annua l w ind turbine production capacity of 2000 sets of 1.5MW level. Meanwhile, China Guodian is developing 3MW sea-based wind turbine with large wind fan for grid-friendly, high elevation and low wind speed respectively.

Solar EnergyChina Guodian is building up the first PV solar enterpr ise integrated with research, design and system assembly and EPC contract ing capabi l i ty. In Ningxia, China Guodian invested in building polycrystalline silicon production l ine with planned output capacity of 5000 tons per year. It is expected the Phase I put into operation by the end of 2010.

Informatization IndustryChina Guodian owns automation control technology of power station and DCS (Distributed Control System) product with independent intellectual property. It has been applied in 600 MW and 1000 MW ultra-supercritical units and proved to reach international advanced level. It has occupied 20% in domestic market with total 150GW coal-fired installed capacity reference.

China Guodian developed Guodian Net-Bank system with intellectual property rights, further promoted finance service business such as credit increment products and insurance brokerage. China Guodian also developed investment banking business, established China Power Capital Management Co., Ltd which provides a finance platform raising equity capital from society. Furthermore, the preparation work of property insurance, life insurance and fund company business are underway.

China Guodian has established various finance business allocation. Marked by foundation of Guodian Capital Holding Co., Ltd., China Guodian has built up an united finance management and operation platform, entering into new stage for professional finance management and operation.

34-35

Scientific Research StrengthChina Guodian is implementing the strategy of development with science and technology and growing by talents. China Guodian builds up actively the environment of science and technology innovation and talent growth. At present, Guodian has 1 state level key laboratory, 2 provincial level laboratories and 6 technology development centers. In addition, the innovation and entrepreneurship base for oversea talents is being established.

Testing laboratory for wind tunnel for double sections of large section

Testing bed of cold state for wet flue gas desulfurization.

Finance Business

36-37

Coal Business

China Guodian owns 13.2 billion tons coal reserve with 32 million tons of annual output. China Guodian built up large coal bases in Inner Mongolia, Northeast China, Ningxia and Xinjiang. It invests in projects such as large coal mines, coal-electric integrated stations and coal delivery stations, distribution stations, railways, ports, harbors and fleets that support coal resource development. It owns coal mines, coal chemical enterprises like Pingzhuang Coal Group and Ningxia Younglight Chemicals.

Large Coal MinesThe coal reserve of Pingzhuang Coal Group is 2.4 billion tons with the annual output exceeding 18 million tons.

Coal YardThe annual transportation quantity of coal in Qinhuangdao Port reserved Yard and Berth reaches 20 million tons.

Coal-electric Integrated ComplexChina Guodian develops and constructs coal–electric integrated projects in Inner Mongolia, Northeast China.

Coal ChemicalChina Guodian constructs coal chemical projects in Chifeng in Inner Mogolia and Ningdong Chemical Zone in Ningxia. The projects which produce 300,000 tons of synthetic ammonia annually and 520,000 tons urea will be put into operation in Chifeng in 2011.

38-39

Corporate Culture

Joining the Energy Float on National 60th Anniversary Celebration

We are aiming to achieve common dream by building up harmonious home, establishing career stage. China Guodian attaches the enterprise vision of “home, stage and dream” and enterprise value of “strict, high efficient, fair and harmonious” China Guodian emphasizes human-orientation and insists on promoting harmonious enterprise culture for the harmony among staff, enterprise and society and builds up a harmonious Guodian.

Activities for staff

40-41

Social ResponsibilityWith continuous effort in energy saving and environment protection, China Guodian fully advocates ecological and civilized concept. China Guodian closed down small coal-fired power plants and promoted the energy-saving and emission reduction. China Guodian actively participates in welfare activities and delivers love and warmth to people in the poor areas and calamity-stricken areas.

42-43

China Gudian actively fulfills social responsibility to shut down small thermal power units with high consumption and low efficiency. By the end of December 2009, Guodian had shut down small coal-fired units with total capacity of 5730MW and finished the shut-down target of “11th Five Plan” one year ahead.

The total volume of SO2 emission is lower than the index set by State Environmental Protection Administration.

Closing down Small Coal-fired Power Plants

Energy Saving and Emission Reduction

Taking the responsibility of energy saving and environmental protection consciously, China Gudian implements reconstruction of energy saving and environmental protection facilities.Total quantity of sulfur dioxide emission by China Guodian is lower than the target controlled by State Environmental Protection Administration. Under the situation that installed capacity is increasing year by year, sulfur dioxide emission is decreasing year by year, finishing the target of “11th Five” one year ahead.

Sulfur Dioxide Emission and Treatment

SO emission per kWh. (Unit:g/kWh)

Welfare CareerChina Guodian is devoted to public welfare career.

Picture 1. After Wenchuan earthquake in Sichuan, China Guodian constructed roads, pitching tents and giving aid.

Picture 2. Money and materials donated by China Guodian and staff exceeded 76million RMB Yuan for Sichuan earthquake disaster-stricken area. China Guodian contracted equipment with the total value of RMB 8.2 billion Yuan with Dongfang Electric Corporation, the generation equipment supplier located in seriously stricken area.

Picture 3. Every enterprise sets up the regular welfare and charity activity with a poor area. The picture shows the students, who are from Huagai Town, An County, Mianyang city in Sichuan Province, are smiling happily after receiving the books donated by Guodian Technology and Environment Group.

2

Develop New Energy with Efforts to Establish

Innovative Enterprise