HUADIAN POWER Reports 17.81% Year-on-Year Increase in Power Generation for 2025, Adjusted Figures Show ~7% Decline
Power Generation Increase: HUADIAN POWER reported a cumulative power generation of 262.27 million MWh for 2025, marking a 17.81% increase from the previous year, despite a 6.99% decrease from retroactively adjusted figures.
On-Grid Electricity Sales: The company sold 246.44 million MWh of on-grid electricity, reflecting an 18.22% increase year-over-year, but a 7.09% decrease compared to adjusted data from the previous year.
Factors Affecting Performance: The decline in power generation and on-grid sales after adjustments is attributed to the rise in new energy sources' installed capacity and reduced utilization hours of coal-fired units.
Market Activity: As of January 23, 2026, HUADIAN POWER's stock showed a slight decrease of 0.484%, with short selling activity amounting to $1.45 million and a ratio of 3.097%.
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Power Generation Increase: HUADIAN POWER reported a cumulative power generation of 262.27 million MWh for 2025, marking a 17.81% increase from the previous year, despite a 6.99% decrease from retroactively adjusted figures.
On-Grid Electricity Sales: The company sold 246.44 million MWh of on-grid electricity, reflecting an 18.22% increase year-over-year, but a 7.09% decrease compared to adjusted data from the previous year.
Factors Affecting Performance: The decline in power generation and on-grid sales after adjustments is attributed to the rise in new energy sources' installed capacity and reduced utilization hours of coal-fired units.
Market Activity: As of January 23, 2026, HUADIAN POWER's stock showed a slight decrease of 0.484%, with short selling activity amounting to $1.45 million and a ratio of 3.097%.

Market Performance: Hong Kong equities showed muted fluctuations on the settlement date, with the HSI closing down 0.2% at 26,282 and total market turnover increasing to $353.804 billion.
Stock Highlights: Standard Chartered surged 4.2% on strong quarterly results, while BOC Hong Kong fell 0.8% despite a profit increase. Other notable movements included HSBC gaining 1.4% and AIA declining 1.9%.
Commodities Sector: Stocks in the commodities sector saw significant gains, with Chinagoldintl rising 5.3% and Zijin Mining increasing by 4.6%, alongside other mining companies experiencing similar upward trends.
Energy and Utilities: Energy stocks also performed well, with Xinte Energy up 6.7% and Huaneng Power rising 8%, driven by positive management outlooks on future electricity price hikes.

Hong Kong Stock Market Performance: The Hong Kong stock market saw positive movement on futures settlement day, with the HSI up 142 points (0.54%) at 26,488, and total market turnover reaching HKD178.701 billion.
Commodity and Energy Stocks Surge: Commodity stocks like ZIJIN MINING and LINGBAO GOLD experienced significant gains, while energy stocks such as HUANENG POWER also rose sharply, driven by positive management outlooks on electricity prices.
Tech Stocks Mixed Results: Major tech stocks had varied performances, with MEITUAN-W and TENCENT increasing, while others like BIDU-SW and KUAISHOU-W saw declines, reflecting a mixed sentiment in the tech sector.
New Energy Vehicle Sales Decline: The China Passenger Car Association reported an 8% month-over-month drop in new energy vehicle retail sales for October, impacting stocks like BYD and NIO, although some companies like XPENG-W managed to post gains.
Stock Performance Overview: Various Chinese energy stocks show mixed performance, with CHINA RES POWER and CGN POWER experiencing declines, while HUADIAN POWER and CHINA SUNTIEN report gains.
Short Selling Activity: Significant short selling activity is noted across several stocks, with CGN POWER having the highest short selling ratio at 34.136%, indicating bearish sentiment among investors.

Coal Price Decline: Sxcoal spot coal price at Qinhuangdao fell to RMB686 per ton on September 10, marking a 0.9% weekly and 1.1% monthly decline, with a significant 19.8% drop year-over-year and 8.8% year-to-date.
Market Influences: The decline in coal prices is attributed to increased supply following military parades and major flooding, coupled with weak demand.
Power Stocks Ratings: BofAS rated several Chinese power stocks, including HUANENG POWER and EB ENVIRONMENT as Buy, while HUADIAN POWER was downgraded to Neutral, based on attractive expected yields for 2025.
Short Selling Data: The report includes short selling data for various power stocks, indicating varying levels of market activity and investor sentiment.

Chinese Power Stocks Performance: BofA Securities reported that Chinese power stocks' 1H25 results met expectations, showing strong earnings in thermal power and environmental sectors, while gas, wind, and solar producers underperformed.
Market Outlook and Ratings: BofA shifted to a neutral stance on thermal power due to potential downward pressure on electricity prices, downgrading several companies while maintaining a Buy rating for EB ENVIRONMENT, which exceeded profit expectations.





