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The National Energy Administration hasanchored the goal of peaking carbon emissions and achieving carbon neutrality,and has taken multiple measures to promote the high-quality leapfrogdevelopment of renewable energy. After exceeding 1.3 billion kilowatts in Junethis year, the installed capacity of renewable energy power generation in Chinahas reached a new high. As of the end of October, it exceeded 1.4 billionkilowatts, reaching 1.404 billion kilowatts, a year-on-year increase of 20.8%,accounting for approximately 49.9% of the total installed capacity of powergeneration in China. Among them, hydropower is 420 million kilowatts(conventional hydropower is 370 million kilowatts, pumped storage is 50.4million kilowatts), wind power is 404 million kilowatts, photovoltaic power is536 million kilowatts, and biomass power is 44 million kilowatts. It isexpected that the installed capacity of renewable energy generation in Chinawill exceed 1.45 billion kilowatts by the end of the year, and the installedcapacity of wind and photovoltaic power generation will exceed 1 billionkilowatts.

From January to October this year, theinstalled capacity of renewable energy generation in China increased by 191million kilowatts, an increase of nearly 100 million kilowatts compared to thesame period last year, a year-on-year increase of 90.8%, accounting for 76.4%of the country's new installed capacity. Among them, hydropower increased by8.44 million kilowatts, wind power increased by 37.31 million kilowatts,photovoltaic power generation increased by 142 million kilowatts, and biomasspower generation increased by 2.32 million kilowatts. It is expected that thenew installed capacity of wind and photovoltaic power generation in China willexceed 200 million kilowatts in 2023.

From January to October this year, thetotal renewable energy generation in China reached 233 trillion kilowatt hours,accounting for 31.8% of the country's total power generation. Among them,hydropower reached 980.5 billion kilowatt hours, wind power reached 696.8billion kilowatt hours, photovoltaic reached 489.8 billion kilowatt hours, andbiomass reached 164 billion kilowatt hours. It is expected that the nationalrenewable energy generation will reach 3 trillion kilowatt hours throughout theyear, accounting for approximately one-third of the total social electricityconsumption.

In recent years, the modernization level ofChina's industrial chain has continued to improve. Not long ago, China'sindependently developed crystalline silicon perovskite stacked solar cellsachieved a conversion efficiency of 33.9%, once again breaking the record forthe highest efficiency of global solar cells. Currently, China has formed amodern photovoltaic industry system with global competitiveness, and the outputof each link in the photovoltaic industry has been ranked first in the worldfor many consecutive years.

In the first ten months of this year, thecumulative export value of photovoltaic products in China reached nearly 43billion US dollars. China's photovoltaic industry has truly achieved the goalof driving domestic manufacturing through domestic applications, which in turndrives the development of our supporting industrial chain. The products weproduce are exported in large quantities overseas, making a huge contributionto the global green transformation.

MULTIFIT Company adheres to the concept of sustainable development, representingthe core concept of the enterprise. It combines clean energy withdigitalization and intelligence to continuously improve its low-carbondevelopment and empower global customers to decarbonize.

In the current complex and ever-changingworld of sustainable development, global industries are facing numerous carbonreduction challenges, making green carbon reduction plans more important forthe industry. MULTIFIT Company continuously builds a full chain advantage,empowering global partners with safer, greener, more convenient, and moreefficient energy, and helping various industries achieve green, low-carbon, andhigh-quality development.