On August 19, HUANENG POWER declined 6.06% in regular trading, trading at HKD 5.28/share, with turnover of HKD 187 million. The selloff was triggered by the company's interim results disclosed on the evening of August 18, which showed a significant earnings decline.
According to the disclosure, HUANENG POWER reported H1 revenue of approximately RMB 106.909 billion, down 4.57% year-on-year. Net profit attributable to shareholders was approximately RMB 6.586 billion, down 28.89% year-on-year, while non-recurring adjusted net profit fell 31.43% to RMB 6.038 billion. Basic EPS declined 30.00% to RMB 0.35. The earnings deterioration was primarily driven by a 2.97% decline in domestic on-grid electricity volume and a 4.58% drop in average on-grid settlement price. Although fuel costs decreased 6.02% year-on-year, the savings were insufficient to offset the dual pressure from declining volumes and prices. By segment, the coal-fired power unit saw pre-tax profit decline by RMB 1.385 billion, while wind and solar segments also recorded reduced contributions.
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