华能水电: 2025年半年度报告摘要

Core Viewpoint - Huaneng Lancang River Hydropower Co., Ltd. reported a 9.08% increase in operating revenue and a 9.78% increase in total profit for the first half of 2025 compared to the same period last year, indicating strong financial performance and growth potential [1]. Financial Performance - Total assets at the end of the reporting period reached approximately CNY 219.52 billion, an increase of 2.29% from the previous year [1]. - Operating revenue for the reporting period was approximately CNY 12.96 billion, up 9.08% from CNY 11.88 billion in the same period last year [1]. - Total profit amounted to approximately CNY 5.79 billion, reflecting a 9.78% increase from CNY 5.28 billion year-on-year [1]. - Net profit attributable to shareholders of the listed company was approximately CNY 4.63 billion, a 10.91% increase from CNY 4.17 billion in the previous year [1]. - The net cash flow from operating activities was not specified in the provided data [1]. Shareholder Structure - The largest shareholder, China Huaneng Group Co., Ltd., holds 50.40% of the shares, followed by Yunnan Energy Investment Group Co., Ltd. with 22.70% [2][3]. - Other significant shareholders include Yunnan Hehe (Group) Co., Ltd. with 11.34% and Kunming Yuneng Industrial Co., Ltd. with 4.00% [3]. Debt and Financial Ratios - The company's debt-to-asset ratio at the end of the reporting period was 63.36%, slightly up from 63.11% at the end of the previous year [7]. - EBITDA interest coverage ratio improved to 6.96 from 5.03 in the previous year, indicating better earnings relative to interest expenses [7].