国投电力2025年第三季度营收、净利双降

Core Points - The company reported a decline in revenue and net profit for the first three quarters of 2025, with total revenue of 40.57 billion yuan, down 8.61% year-on-year, and net profit attributable to shareholders of 6.517 billion yuan, down 0.92% year-on-year [1] - In the third quarter alone, the company achieved revenue of 14.876 billion yuan, a decrease of 13.98% year-on-year, and net profit of 2.723 billion yuan, down 3.94% year-on-year [1] - The total power generation from July to September 2025 was 47.891 billion kWh, and the on-grid electricity volume was 46.808 billion kWh, both down 14.42% compared to the same period last year [1] - The average on-grid electricity price from July to September 2025 was 0.334 yuan/kWh, a decrease of 0.9% year-on-year [1] - For the first nine months of 2025, total power generation was 124.95 billion kWh, and on-grid electricity volume was 121.98 billion kWh, down 6.36% and 6.21% year-on-year, respectively [1] - The average on-grid electricity price for the first nine months was 0.346 yuan/kWh, down 3.9% year-on-year [1] Revenue and Profit Analysis - The decline in average on-grid electricity price is attributed to changes in electricity volume structure, a decrease in long-term trading prices for thermal power in some regions, and an increasing proportion of unsubsidized renewable energy projects [2]