GD Power Development (600795) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 was RMB 77.65 billion, down 9.52% year-over-year; net profit attributable to shareholders was RMB 3.69 billion, down 45.11% year-over-year, mainly due to high base from asset disposals last year.

• Excluding non-recurring items, net profit attributable to shareholders rose 56.12% year-over-year to RMB 3.41 billion.

• Cash flow from operating activities increased 18.87% year-over-year to RMB 25.98 billion.

• Proposed interim dividend of RMB 1.00 per 10 shares, totaling RMB 1.784 billion, representing 48.38% payout of H1 net profit.

Financial highlights

• Operating income: RMB 77.65 billion, down 9.52% year-over-year.

• Net profit attributable to shareholders: RMB 3.69 billion, down 45.11% year-over-year.

• Basic EPS: RMB 0.207, down 45.09% year-over-year.

• Net assets attributable to shareholders: RMB 57.99 billion, up 3.5% from year-end 2024.

• Total assets: RMB 510.44 billion, up 3.34% from year-end 2024.

• Operating cash flow: RMB 25.98 billion, up 18.87% year-over-year.

Outlook and guidance

• Management expects continued challenges from electricity price declines and market competition.

• Focus remains on cost control, high-quality growth, and accelerating energy transition.

• Company will continue to expand renewable energy capacity and optimize asset structure.