Overview
China Power (2380.HK) is a core subsidiary of State Power Investment Corporation Limited.
Its main businesses include hydropower, wind power, photovoltaic power, coal-fired power,
natural gas power, environmental power, energy storage, green electricity transportation
and color photovoltaics. The group has power plants in many places across the country. In
recent years, the company has been committed to accelerating the transformation of clean
energy, acquiring multiple clean energy projects actively and selling part of its original shares
in the coal power business.
Company Performance review
The company’s revenue in the first half of 2023 was 21.32 billion yuan (RMB, the same
below), an increase of 4.98% YoY. Operating costs were 17.6 billion yuan, an increase of
4.35% YoY. Operating profit was 4.48 billion yuan, an increase of 11.50% YoY. Basic earnings
per share were 0.14 yuan. Profit attributable to Ordinary shareholders of the Company was
1.68 billion yuan, an increase of 114.36% YoY which was due to the company’s active
independent development and acquisition of high-quality clean energy. Besides, it benefited
from thermal power’s significant turnaround from losses to profits YoY. At the same time,
generation capacity, output and revenue of wind power and photovoltaic power increased
significantly, which offset the impact of insufficient hydropower sales in the first half due to
lower rainfall effectively