State Power Investment Corporation


State Power Investment Corporation Limited is one of the five major electricity generation companies of mainland China. It was the successor of China Power Investment Corporation after it was merged with the State Nuclear Power Technology Corporation in 2015.
SPIC is the parent company of listed companies China Power International Development, Shanghai Electric Power, Yuanda Environmental Protection and etc.

History

In 2015 China Power Investment Corporation and State Nuclear Power Technology Corporation merged. 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. 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 and China Power New Energy Development, was re-appointed by the central government to another state-owned enterprise China Datang Corporation in 2015. Li Xiaolin was one of the key person in the entire history of CPI Group, which was found in 2003, as well as its predecessor China Power International 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 deputy general manager of CPI Group, Meng Zhenping, was promoted to general manager. Overall, half of the corporate managers were from former SNPTC and half from CPI Group.
After the merger SPIC had the license to run nuclear power plant in China, as well as the ability to design and built 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

Nameshort name / abb.Chinese nameownership ratioplace of incorporationfootnotes
State Nuclear Power Technology CorporationSNPTC76%Mainland Chinaowned directly
China Power International HoldingCPI Holding100%Hong Kongowned directly
China Power DevelopmentCPDL
British Virgin Islandsowned via CPI Holding
China Power International DevelopmentChina Power55.61%Hong Kongowned via CPI Holding and CPDL; listed company
Shanghai Electric PowerSEP49.41%Mainland Chinaowned directly; additional 15.08% via China Power; listed company
SPIC Yuanda Environmental ProtectionSPICYD43.74%Mainland Chinaowned directly; listed company
Huanghe Hydropower DevelopmentMainland China
China Power Investment Nuclear PowerMainland China
Shandong Nuclear PowerMainland Chinaoperator and constructor of Haiyang Nuclear Power Plant

Equity investments