Hong Kong's China Resources Power H1 profit falls on lower power tariffs

China Resources Power Holdings

26/08/2026 05:12

Overview
Hong Kong power producer's H1 2026 revenue rose 9.4% yr/yr, profit fell 15.5%
Profit decline driven by lower tariffs, higher coal prices, and reduced subsidies
Company declared interim dividend of HK$0.321 per share

Outlook
Company expects 2026 cash capital expenditure to be about HK$47.2 bln
China Resources Power plans to increase proportion of installed capacity from clean energy
Company aims to accelerate development of integrated energy services and energy technology innovation

Result Drivers
LOWER TARIFFS - Co said lower average on-grid tariffs for coal-fired, wind, and photovoltaic power reduced profit
HIGHER COAL PRICES - Co said increased unit price of standard coal raised fuel costs, impacting profit
REDUCED SUBSIDIES - Co said lower income from government subsidies contributed to profit decline

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
HK$54.98 bln
 
H1 Dividend
 
HK$0.32
 
H1 Net Income Attributable
 
HK$6.65 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 7 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the independent power producers peer group is "buy."
Wall Street's median 12-month price target for China Resources Power Holdings Co Ltd is HK$19.80, about 8.3% above its August 25 closing price of HK$18.28
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads
Aug 25 - Beijing Energy International interim revenue falls on lower electricity prices
Aug 25 - CGN Power H1 revenue falls on lower on-grid power generation
Aug 25 - China's Suntien Green Energy H1 revenue, profit down on weak gas demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-26/8db529a4-50c0-4175-a1e2-ff69f0159646.file
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)