SDIC Power (600886) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue was RMB 15.64bn, up 5.12% YoY; 9M revenue was RMB 39.52bn, down 2.58%, while attributable net profit fell 6.84% to RMB 6.07bn.

• 9M operating cash flow declined 16.96% YoY to RMB 19.99bn; the quarterly report is unaudited and prepared under China Accounting Standards.

Financial highlights

• Q3 total profit was RMB 5.72bn, down 1.46% YoY; attributable net profit was RMB 2.54bn, down 6.86%.

• Q3 adjusted attributable net profit, excluding non-recurring items, was RMB 2.53bn, down 7.18% YoY; 9M adjusted profit was RMB 6.02bn, down 7.46%.

• 9M operating revenue was RMB 39.52bn vs RMB 40.57bn; operating profit was RMB 12.81bn vs RMB 14.07bn.

• 9M net income was RMB 11.11bn vs RMB 11.81bn; attributable net income was RMB 6.07bn vs RMB 6.52bn.

• 9M investment income declined to RMB 416.4m from RMB 736.8m; total operating costs were RMB 27.09bn vs RMB 27.29bn.

Key financial ratios and metrics

• Basic and diluted EPS were RMB 0.3126 in Q3, down 6.88% YoY; 9M EPS was RMB 0.7456, down 8.35%.

• Weighted average ROE was 3.42% for Q3, down 0.39 percentage points; 9M ROE was 8.70%, down 1.36 percentage points.

• Total assets were RMB 316.29bn at September 30, 2026, up 0.86% from year-end 2025; parent-attributable equity was RMB 74.48bn, up 2.53%.