Zhejiang Zheneng Electric Power Co Ltd

Zheneng Electric Power released its 2026 interim report. Total operating revenue was 32.579 billion yuan, down 8.16% year-on-year. Net profit attributable to the parent company was 1.503 billion yuan, down 57.21% year-on-year. Net cash inflow from operating activities was 4.058 billion yuan, down 26.62% year-on-year. The company's asset-liability ratio was 44.74%, gross margin was 3.63%, return on equity was 2.04%, and diluted earnings per share was 0.11 yuan. The number of shareholders was 146,500, and the top ten shareholders held 86.14% of the total share capital.

Zheneng Electric Power released its 2026 semi-annual report, achieving operating revenue of 32.579 billion yuan, down 8.16% year on year. Net profit attributable to shareholders of the listed company was 1.503 billion yuan, down 57.21% year on year. The decline was mainly due to lower on-grid electricity prices for coal-fired units and a year-on-year rise in coal prices in the second quarter. The company plans to distribute a cash dividend of 0.20 yuan per 10 shares, tax included. Second-quarter net profit was 556 million yuan, down 41% quarter on quarter, within the previously guided range of 393 million to 661 million yuan.

Zheneng Electric Power released its 2026 semi-annual report, showing operating revenue of 32.579 billion yuan for the period, down 8.16% year on year, and net profit attributable to shareholders of the listed company of 1.503 billion yuan, down 57.21% year on year. The decline was mainly due to lower electricity sales prices for coal-fired units and a year-on-year rise in coal prices in the second quarter. The company plans to distribute a cash dividend of 0.02 yuan per share, tax included.

Zheneng Electric Power disclosed its earnings forecast, expecting attributable net profit for the first half of 2026 to be between 1.34 billion and 1.608 billion yuan, a year-on-year decline of 54.21% to 61.85%. Deducted non-recurring net profit is expected to be between 1.294 billion and 1.552 billion yuan, down 53.85% to 61.52% year-on-year. The company said the decline in performance was mainly due to lower on-grid electricity prices for coal-fired units and higher coal prices in the second quarter compared with the same period last year. Based on the closing price on July 14, Zheneng Electric Power's current price-to-earnings ratio is about 13.04 to 13.69 times, its price-to-book ratio is about 0.95 times, and its price-to-sales ratio is about 0.95 times. The company is mainly engaged in coal power, gas power, nuclear power, combined heat and power, and integrated energy businesses.