CYPC(SH:600900) Zheng Quan Zhi Xing·2025-08-29 18:22Core Viewpoint - China Yangtze Power Co., Ltd. reported a significant increase in revenue and profit for the first half of 2025, indicating strong operational performance and financial health [1][2]. Financial Performance - Total assets at the end of the reporting period amounted to CNY 567.70 billion, reflecting a slight increase of 0.23% compared to the previous year [1]. - Operating revenue reached CNY 36.70 billion, up 5.34% from CNY 34.84 billion in the same period last year [1]. - Total profit for the period was CNY 15.56 billion, representing a 14.83% increase from CNY 13.55 billion year-on-year [1]. - Net profit attributable to shareholders was CNY 13.19 billion, a 16.00% increase from CNY 11.37 billion in the previous year [1]. Shareholder Structure - The largest shareholder, China Three Gorges Corporation, holds 42.81% of the shares, with a total of 10.47 billion shares [1][2]. - Other significant shareholders include Hong Kong Central Clearing Limited (6.19%) and China Ping An Life Insurance Co., Ltd. (4.04%) [1]. - The report indicates a reduction in holdings by China Three Gorges Corporation due to the transfer of 4% of shares to its subsidiary, Yangtze Ecological Environmental Group [2]. Debt and Financial Ratios - The company has issued various bonds, including a total of CNY 2 billion in corporate bonds with an interest rate of 3.19% [2]. - The debt-to-asset ratio at the end of the reporting period was 61.52%, up from 60.80% at the end of the previous year [2]. - The EBITDA interest coverage ratio improved to 6.14 from 5.11 year-on-year, indicating better ability to cover interest expenses [2].