Guangdong Electric Power Development Co Ltd

Guangdong Electric Power Development released its 2026 interim report, swinging from profit to loss during the reporting period. Net profit attributable to the parent company was negative 546 million yuan, down 1,780.66 percent year on year, while operating revenue reached 26.333 billion yuan, up 13.79 percent. The company's power generation grew significantly, with on-grid electricity reaching 65.714 billion kilowatt-hours, up 23.14 percent year on year, but the average on-grid tariff fell 7.11 percent to 445.90 yuan per thousand kilowatt-hours, and fuel costs increased by 4.326 billion yuan, narrowing gross profit in the power generation business. Coal-fired, gas-fired and new energy operations lost 545 million yuan, 257 million yuan and 98 million yuan respectively, yet net operating cash flow improved sharply to 5.959 billion yuan, up 36.80 percent year on year. The company faces pressure from electricity market reform and fuel costs, and future profitability remains affected by tariff trends and the commissioning of new energy projects.