Hua Xia Shi Bao·2025-08-01 11:55Core Viewpoint - Huaneng International Power Co., Ltd. reported a significant increase in profit despite a decline in revenue, marking a notable trend in the power industry as fuel costs decrease [2][3]. Financial Performance - Huaneng International achieved revenue of 112.03 billion yuan, a year-on-year decrease of 5.7%, while net profit attributable to shareholders rose to 9.26 billion yuan, a substantial increase of 24.26% [2][3]. - The net cash flow from operating activities improved significantly, increasing from 23.60 billion yuan to 30.75 billion yuan, a year-on-year growth of 30.27% [2]. Profit Growth Drivers - The profit surge is primarily attributed to the fire power segment, which reported a pre-tax profit of 8.07 billion yuan, an increase of 3.56 billion yuan year-on-year [3]. - The decline in revenue is linked to a decrease in electricity volume and prices, while profit growth is driven by reduced fuel costs and an orderly expansion of renewable energy [3][4]. Coal Market Impact - The domestic coal market showed a continued easing of supply-demand tensions, with coal prices trending downward [3][4]. - Huaneng International's coal procurement volume was 87.14 million tons, a decrease of 10.7% year-on-year, and the average coal price was 917.05 yuan per ton, down 9.23% [3]. Renewable Energy Performance - The solar power segment saw a pre-tax profit of 1.82 billion yuan, an increase of 578 million yuan year-on-year, while the wind power segment reported a pre-tax profit of 3.91 billion yuan, a decrease of 121 million yuan [4]. - The company installed a total of 6,262.91 MW of new energy capacity in the first half of the year, with solar installations being the majority [4][5]. Future Outlook - The company plans to continue increasing the proportion of clean energy installations while balancing the development of thermal and renewable energy [5]. - Analysts express caution regarding the profit outlook for the second half of the year, citing stable coal prices and a downward shift in electricity prices as potential limiting factors for profit growth [6][7].