Huadian Power International Corporation (1071) Q4 2025 earnings summary

Executive summary

• Power generation reached 262.27 million MWh in 2025, down 7.15% year-over-year; on-grid power sold was 246.45 million MWh, down 7.09% year-over-year.

• Operating revenue was RMB126,013 million, a 10.95% decrease year-over-year; net profit attributable to shareholders rose 1.39% to RMB6,070 million.

• Basic EPS was RMB0.49, up 6.52% year-over-year; proposed annual dividend is RMB0.23 per share, including an interim dividend of RMB0.09.

Financial highlights

• Total operating revenue: RMB126,013 million, down 10.95% year-over-year.

• Net profit attributable to shareholders: RMB6,070 million, up 1.39% year-over-year.

• Operating costs decreased 13.97% to RMB111,602 million, mainly due to lower coal prices.

• Fuel costs dropped 15.92% to RMB79,205 million; finance costs fell 16.37% to RMB3,162 million.

• Net cash inflow from operating activities was RMB27,221 million, up from RMB19,457 million in 2024.

Outlook and guidance

• 2026 electricity generation expected at 240 million MWh.

• Planned investment of RMB19 billion in 2026 for power projects, environmental upgrades, and equity investments.

• Focus on safety, environmental protection, digital transformation, and high-quality development in thermal and gas-fired power.