Zhi Tong Cai Jing·2025-10-20 08:51Core Viewpoint - Huadian International (600027.SH) reported a decline in electricity generation and grid-connected electricity volume for the first three quarters of 2025, primarily due to the increasing installed capacity of renewable energy and reduced utilization hours of coal-fired units [1] Financial Performance - As of September 30, 2025, the cumulative electricity generation reached 201.329 billion kWh, a decrease of approximately 5.87% compared to the adjusted figures from the previous year [1] - The grid-connected electricity volume was 189.243 billion kWh, reflecting a decline of about 5.94% from the adjusted figures of the previous year [1] - The average grid-connected electricity price for the first three quarters of 2025 was approximately RMB 509.55 per MWh, down about 2.76% from the adjusted figures of the previous year [1]