STATE GRID CORPORATION OF CHINA

SGCC was founded on Dec. 29th, 2002 as a pilot state-owned corporation by the State Council. As a backbone state-owned enterprise that may affect national energy safety and economic lifelines, SGCC's core business is to build and operate power grids and provides secure and reliable power supply for the development of the society. With a registered capital of RMB 200 billion yuan and service area covering 26 provinces,autonomous regions and municipalities directly under the jurisdiction of the Ce... ntral Government which equals to 88% of the national territory. SGCC carries out the president responsibility system. The president is the legal corporate representative of SGCC. By the end of 2005, SGCC accumulated a total asset of RMB1176.7 billion yuan with a debt-asset ratio of 61.96%, and possessed 195,899 km of 220kV and above transmission lines with a transforming capacity up to 616.64 GVA. SGCC has 1.502 million employees and serves 128 million customers. In 2005, SGCC sold electric power up to 1464.6 TWh and achieved an operation income of RMB 721.4 billion yuan with a net profit of RMB14.4 billion yuan profit & tax of RMB 60.4 billion yuan. SGCC was ranked the 40th in the Fortune Global 500 in 2005.