Datang International Power Generation (991) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached RMB 30.27 billion, up 0.22% year-over-year, with net profit attributable to shareholders rising 29.26% to RMB 2.89 billion.

• Basic and diluted EPS increased 40.24% year-over-year, driven by lower fuel costs and revenue growth.

• Total assets at quarter-end were RMB 331.35 billion, with shareholders’ equity attributable to listed company shareholders up 3.15% to RMB 82.88 billion.

• Operating performance improved due to lower fuel costs and modest revenue growth.

Financial highlights

• Total profit for Q1 2026 was RMB 4.14 billion, up 27.39% year-over-year.

• Operating cash flow was RMB 8.57 billion, down 7.99% year-over-year.

• Gross margin improved as operating costs declined, mainly from reduced fuel expenses.

• Non-recurring profit/loss items contributed RMB 25.78 million, mainly from government subsidies and asset disposals.

Outlook and guidance

• Management attributes profit growth to lower fuel costs and expects continued operational improvement if cost trends persist, with a focus on cost management and operational efficiency.