Zhejiang Zheneng Electric Power (600023) Q1 2026 earnings summary
Event summary combining transcript, slides, and related documents.
Q1 2026 earnings summary
28 Apr, 2026Executive summary
Revenue for Q1 2026 was RMB 15.66 billion, down 11.02% year-over-year due to lower electricity prices and reduced performance from subsidiaries and associates.
Net profit attributable to shareholders was RMB 947 million, a decrease of 11.84% compared to Q1 2025.
Operating cash flow increased 21.23% year-over-year to RMB 4.33 billion.
Financial highlights
Total assets at March 31, 2026, were RMB 154.12 billion, down 1.42% from year-end 2025.
Shareholders’ equity rose 0.85% to RMB 77.16 billion.
Basic and diluted EPS were RMB 0.07, down 12.5% year-over-year.
Gross margin declined as operating costs remained high despite lower revenue.
Outlook and guidance
Profitability was impacted by falling electricity prices and weaker results from investees.
Management expects continued pressure from market conditions and regulatory changes.
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