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Shanghai Electric Power (600021) investor relations material
Shanghai Electric Power Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q1 2026 was RMB 9.92 billion, down 4.98% year-over-year due to lower power generation and market demand.
Net profit attributable to shareholders fell 31.59% year-over-year to RMB 567 million, mainly due to reduced generation and lower average on-grid tariffs.
Operating cash flow increased 6.96% year-over-year to RMB 2.92 billion.
Financial highlights
Total revenue: RMB 9.92 billion, down from RMB 10.44 billion year-over-year.
Net profit attributable to shareholders: RMB 567 million, down from RMB 829 million year-over-year.
Basic EPS: RMB 0.1668, down 37.53% year-over-year.
Operating profit: RMB 1.27 billion, down from RMB 1.74 billion year-over-year.
Net cash from operating activities: RMB 2.92 billion, up from RMB 2.73 billion year-over-year.
Outlook and guidance
Net profit decline attributed to scheduled thermal power unit maintenance and weaker market demand, leading to lower generation and tariffs.
- Net profit up 35.26% year-over-year, clean energy at 62.59% of capacity, dividend proposed.600021
Q4 202514 Apr 2026 - Net profit jumped 43.85% to ¥1.91 billion on strong clean energy growth and cost control.600021
Q2 202519 Dec 2025 - Net profit jumped 30.78% year-over-year on lower coal costs, despite a slight revenue dip.600021
Q1 202519 Dec 2025 - Net profit jumped 28.46% on stable revenue and strong clean energy growth.600021
Q4 202419 Dec 2025 - Net profit surged 24% year-over-year on higher revenue and improved cash flow.600021
Q3 202530 Oct 2025 - Q3 net profit jumped 67.57% year-over-year on higher power output and lower coal costs.600021
Q3 202413 Jun 2025 - Net profit jumped 65.72% year-over-year on stable revenue and strong clean energy expansion.600021
Q2 202413 Jun 2025
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