Datang International Power Generation (991) H1 2025 earnings summary

Executive summary

• Operating revenue for H1 2025 was RMB57,193 million, down 1.93% year-over-year, while net profit attributable to equity holders rose 50.30% to RMB4,874 million, and total profit before tax increased 37.92% to RMB7,671 million, marking a record high.

• Business performance reached record highs due to effective cost control, lower coal prices, and improved efficiency, with a focus on safety, supply security, and green transformation.

• Clean energy capacity increased, with 1,117.45 MW of new clean energy installed, raising the clean energy share to 40.87% of total capacity.

• Corporate governance improved with board re-election, supervisory committee abolishment, and enhanced dividend policies.

Financial highlights

• Operating revenue: RMB57,193 million, down 1.93% year-over-year; electricity sales revenue fell 2.71%.

• Net profit attributable to equity holders: RMB4,874 million, up 50.30% year-over-year; basic EPS: RMB0.2215.

• Total profit before tax: RMB7,671 million, up 37.92% year-over-year; net profit: RMB6,381 million, up 43.72%.

• Operating costs dropped 6.91% to RMB48,265 million, mainly due to lower fuel costs.

• Finance costs decreased 14.52% to RMB2,266 million, reflecting lower borrowing rates.

Outlook and guidance

• Focus on high-quality completion of the 14th Five-Year Plan and launch of the 15th, with emphasis on reform, cost leadership, safety, supply security, and green development.

• Plans to optimize power generation income, reduce fuel costs, and accelerate clean energy and efficiency upgrades.

• Commitment to further improve corporate governance, investor returns, and information disclosure.