Lei Mingshan

Lei Mingshan serves as Chairman of China Yangtze Power Co., Ltd., the world's largest hydroelectric company by installed capacity and generation volume. The company is a subsidiary of China Three Gorges Corporation and operates four mega-dams on the Yangtze River: the Three Gorges Dam (22.5 GW — the world's largest power station), Gezhouba (2.7 GW), Xiluodu (13.9 GW), and Xiangjiaba (6.4 GW), with a combined installed capacity exceeding 45 GW. Yangtze Power occupies a unique position in the Chinese energy landscape: it is the largest clean energy generator in the country, producing over 300 TWh of carbon-free electricity annually — equivalent to the entire electricity consumption of a mid-sized European country. The company's generation costs are among the lowest in the world (water is free; operating costs are primarily maintenance and depreciation), giving it exceptional profitability and cash generation. Lei's strategic priorities include optimizing generation output across the four dams (which depends on Yangtze River water flow, influenced by rainfall and upstream reservoir management), pursuing acquisitions of additional hydroelectric assets, expanding into overseas hydroelectric projects, and investing in pumped-storage hydropower (a growing market as China's grid needs flexible storage to accommodate intermittent solar and wind). His decisions on dividend policy (Yangtze Power is a favorite among Chinese yield investors), acquisition strategy, pumped-storage investment, and water resource management are the primary drivers of the stock.