Datang International Power Generation (991) H1 2024 earnings summary

Executive summary

• Operating revenue for H1 2024 reached RMB58,310 million, up 0.19% year-over-year.

• Net profit attributable to equity holders was RMB3,243 million, a 68.38% increase year-over-year.

• Total profit before tax rose 82.96% year-over-year to RMB5,562 million, driven by improved quality, efficiency, and cost control.

• The company advanced its green transformation, with 122 new power projects approved and 80 under construction, focusing on wind and photovoltaic energy.

Financial highlights

• Revenue from electricity sales was RMB50,122 million, down 0.47% year-over-year.

• Total operating costs decreased by 3.92% to RMB51,844 million, mainly due to lower fuel costs.

• Finance costs dropped 11.82% to RMB2,649 million, reflecting lower borrowing rates.

• Net profit for the period was RMB4,440 million, up 88.60% year-over-year.

• Basic earnings per share rose to RMB0.1315, up RMB0.0696 per share year-over-year.

Outlook and guidance

• Plans to accelerate green transformation and high-quality development in the second half of 2024.

• Focus on enhancing energy supply, optimizing coal and new energy integration, and cost control.

• Aims to achieve annual profit targets through efficiency and margin improvements.