Huaneng International (00902) rose by nearly 5% after the report. As of press release, it rose 4.86% to HK$5.18, with a turnover of HK$21.883 million.
The Zhitong Finance App learned that Huaneng International (00902) rose by nearly 5% after the results. As of press release, it had risen 4.86% to HK$5.18, with a turnover of HK$21.883 million.
According to the news, Huaneng International announced first-quarter results, with operating income of about 65.367 billion yuan, up 0.15% year on year; net profit attributable to shareholders of listed companies was about 4.596 billion yuan, up 104.25% year on year; and basic earnings per share were 0.25 yuan. According to the announcement, the increase in revenue was mainly due to the year-on-year increase in domestic business power generation. Profit growth was mainly due to a year-on-year decrease in fuel costs and a year-on-year increase in electricity volume for domestic business units.
Guojin Securities pointed out that in the context of declining electricity prices, the company has achieved a significant increase in electricity profits. On the one hand, it reflects the current strong upstream and downstream position of leading thermal power companies; on the other hand, it reflects the profit support effect brought about by the implementation of the coal-electricity capacity electricity price mechanism, so reasonable long-term benefits from thermal power can be expected. Furthermore, new wind power installations accelerated in the first quarter, and as the share of new energy entering the market for consumption increased, the advantages of wind power assets with peak output capacity will be further demonstrated.