Huaneng Hydropower(600025) 证券日报·2025-05-12 11:37Core Viewpoint - Huaneng Lancang River Hydropower Co., Ltd. has achieved impressive financial results for 2024 and Q1 2025, positioning itself as a leader in the hydropower industry [2][3] Financial Performance - In 2024, the company reported operating revenue of 24.882 billion yuan, a year-on-year increase of 6.05%, and a net profit attributable to shareholders of 8.297 billion yuan, up 8.63% [2] - For Q1 2025, the company continued its strong growth with operating revenue of 5.385 billion yuan, a year-on-year increase of 21.84%, and a net profit of 1.508 billion yuan, up 41.56% [2] - The company plans to distribute a cash dividend of 2 yuan per share for 2024, totaling 3.6 billion yuan, marking an 11.11% increase [2] Operational Highlights - By the end of 2024, the company had a total installed hydropower capacity of 27.3058 million kilowatts, with significant contributions from major hydropower stations [3] - The total hydropower generation for 2024 reached 107.93 billion kilowatt-hours, reflecting a year-on-year growth of 2.53% [3] - The company has embraced digital transformation, significantly shortening construction periods and reducing costs, exemplified by the early commissioning of the TB hydropower station [3] Future Development - Huaneng is accelerating the development of the integrated water-wind-solar base project in the upper reaches of the Lancang River, which has been included in the first batch of national large-scale demonstration bases [4] - The company is actively expanding into renewable energy, with approved capacity for new energy projects reaching 9.69 million kilowatts, and significant growth in installed capacity and generation from wind and solar projects [5][6] - The Nagu Photovoltaic Power Station, located at high altitude, showcases the company's innovative approach and is expected to generate an average annual output of 158 million kilowatt-hours [6]