Datang International Power Generation (991) H2 2025 earnings summary

Executive summary

• Operating revenue for 2025 was RMB121,255 million, down 1.80% year-over-year, while profit before tax surged 49.85% to RMB12,986 million and net profit attributable to equity holders rose 66.13% to RMB7,539 million.

• Basic earnings per share nearly doubled to RMB0.3237 from RMB0.1646 year-over-year.

• The Board proposed a total annual cash dividend of RMB0.148 per share, including an interim and final dividend, totaling approximately RMB2,739 million.

Financial highlights

• Operating costs decreased by 5.93% to RMB105,658 million, mainly due to lower fuel costs.

• Finance costs dropped 16.54% to RMB4,427 million, reflecting lower interest rates and optimized financing.

• Net cash flows from operating activities increased 44.84% to RMB37,836 million.

• Net asset value per share rose to RMB1.84 from RMB1.64 year-over-year.

Outlook and guidance

• 2026 will focus on safety, value creation, green transformation, and governance enhancement as part of the new “15th Five-Year Plan.”

• Emphasis on optimizing management, improving operational efficiency, and accelerating green and low-carbon initiatives.