Datang International Power Generation (991) Q3 2024 earnings summary

Executive summary

• Operating revenue for Q3 2024 reached RMB 32.68 billion, up 0.8% year-over-year; YTD revenue was RMB 90.99 billion, up 0.4% year-over-year.

• Net profit attributable to equity holders for Q3 was RMB 1.32 billion, up 0.24% year-over-year; YTD net profit was RMB 4.43 billion, up 56.22% year-over-year.

• Profit growth driven by improved fuel supply, price control, and higher profitability in electricity sales.

Financial highlights

• Net profit after deducting non-recurring items for Q3 was RMB 1.26 billion, up 37.24% year-over-year; YTD was RMB 4.38 billion, up 100.04% year-over-year.

• Basic and diluted EPS for Q3 were RMB 0.0559, up 16.95% year-over-year; YTD EPS was RMB 0.1801, up 105.59% year-over-year.

• Weighted average return on net assets for Q3 was 3.42%, up 0.38 percentage points; YTD was 11.46%, up 5.8 percentage points.

• Net cash flows from operating activities YTD were RMB 22.08 billion, up 26.98% year-over-year.

• Total assets at quarter-end were RMB 313.27 billion, up 3.05% from year-end 2023.

Outlook and guidance

• Profitability expected to remain strong due to ongoing quality and efficiency measures, fuel cost control, and improved operating indicators.