Huaneng Power International (902) Q1 2025 earnings summary

Executive summary

• Net profit attributable to equity holders rose 8.19% year-over-year to RMB 4.97 billion for Q1 2025, driven by lower domestic fuel costs despite a 7.7% decline in operating revenue.

• Operating revenue decreased to RMB 60.33 billion, mainly due to reduced domestic power generation and lower average electricity tariffs.

• Basic and diluted EPS both reached RMB 0.27, up from RMB 0.25 in the same quarter last year.

Financial highlights

• Operating revenue: RMB 60.33 billion, down 7.7% year-over-year.

• Net profit attributable to equity holders: RMB 4.97 billion, up 8.19% year-over-year.

• Net profit after deducting non-recurring items: RMB 4.80 billion, up 9.61% year-over-year.

• Net cash flows from operating activities: RMB 17.40 billion, up 43.26% year-over-year.

• Total assets: RMB 588.49 billion, up 0.28% from year-end 2024.

Outlook and guidance

• Revenue decline attributed to lower power generation and tariffs, while profit growth is expected to continue benefiting from reduced fuel costs.