华润电力发布中期业绩 股东应占利润78.72亿港元 同比减少15.92%

Core Viewpoint - China Resources Power Holdings Company Limited reported a decrease in revenue and profit for the first half of 2025, reflecting challenges in the power generation sector, particularly in coal-fired electricity generation, while renewable energy segments showed growth in sales volume and installed capacity [1][2]. Financial Performance - The company achieved a revenue of HKD 50.267 billion, a year-on-year decrease of 1.67% [1] - The profit attributable to shareholders was HKD 7.872 billion, down 15.92% year-on-year [1] - Basic earnings per share were HKD 1.52, with an interim dividend proposed at HKD 0.356 per share [1] Installed Capacity - As of June 30, 2025, the total installed capacity managed by the company was 88,931 MW, with an equity installed capacity of 78,094 MW [1] - The equity installed capacity for coal-fired power was 39,139 MW, accounting for 50.1% of the total, while renewable sources (wind, solar, and hydro) accounted for 49.9% with a total of 38,955 MW, an increase of 2.7 percentage points from the end of 2024 [1] Sales Volume - In the first half of 2025, the subsidiary power plants sold 102 million MWh, a 3.8% increase from 98.2396 million MWh in the same period of 2024 [2] - Sales from wind, solar, and hydro power plants increased by 15.5%, 31.3%, and 50.9% respectively compared to the first half of 2024 [2] - National electricity consumption grew by 3.7% year-on-year, but demand showed signs of temporary slowdown, impacting coal-fired generation sales which fell by 1.4% [2] Utilization Hours - The average utilization hours for wind power plants were 1,268 hours, up 45 hours or 3.7% from the first half of 2024, exceeding the national average by 181 hours [2] - The average utilization hours for solar power plants were 676 hours, down 29 hours or 4.1% from the previous year, but still exceeding the national average by 116 hours [2] - The average utilization hours for coal-fired power plants were 2,074 hours, down 81 hours or 3.8% year-on-year, exceeding the national average by 106 hours [2] Average On-grid Electricity Prices - The average on-grid electricity price for coal-fired power plants was RMB 391.2 per MWh, a decrease of 6.1% year-on-year [3] - The average on-grid electricity price for wind power plants was RMB 396.8 per MWh, down 11.0% year-on-year [3] - The average on-grid electricity price for solar power plants was RMB 304.9 per MWh, also down 6.1% year-on-year [3]