China's Huaneng Power H1 revenue falls as utilization hours reduce

Huaneng Power International

18/08/2026 15:58

Overview
China power generator's interim revenue fell 4.57% yr/yr to RMB 106.9 bln
Net profit attributable to equity holders dropped 28.29% yr/yr to RMB 6.87 bln
Company cites lower utilization hours and decreased coal procurement costs impacting results

Outlook
Company expects nationwide electricity supply-demand balance to ease in second half of year
Company sees increased uncertainty in market returns due to price volatility in spot market
Huaneng Power plans to optimize power generation to capture opportunities during high-price periods

Result Drivers
LOWER UTILIZATION HOURS - Co said average utilization hours at domestic power plants fell yr/yr, reducing power generation
DECREASED COAL PROCUREMENT COSTS - Co said unit price of standard coal and total coal procurement fell yr/yr, aiding cost control

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 106.91 bln
 
H1 Net Income Attributable
 
RMB 6.87 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and 4 "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 Huaneng Power International Inc is CNY6.21, about 9.9% below its August 18 closing price of CNY6.89
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
Aug 18 - China's fossil-fuelled power output falls in July as summer rains boost hydropower
Aug 17 - China leads wave of clean power wastage as grids globally hit limits 

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

(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.)