HUANENG LANCANG RIVER HYDROPOWER (600025) Q2 2025 earnings summary

Executive summary

• Achieved record-high power generation and profit for the first half of 2025, with significant growth in new energy installed capacity and effective risk management measures.

• Focused on innovation, efficiency, and green development, with continued leadership in clean energy and market competitiveness.

Financial highlights

• Operating revenue reached ¥12.96 billion, up 9.08% year-over-year; net profit attributable to shareholders was ¥4.61 billion, up 10.54%.

• Total assets at period-end were ¥219.52 billion, up 2.29% from year-end 2024; net assets attributable to shareholders were ¥74.52 billion, up 1.24%.

• Basic and diluted EPS were ¥0.25, up 13.64% year-over-year; weighted average ROE was 7.22%, up 1.25 percentage points.

• Operating cash flow was ¥8.61 billion, up 14.30% year-over-year.

• Power generation volume increased 12.97% year-over-year to 52.75 billion kWh.

Outlook and guidance

• Anticipates continued growth in clean energy, with new energy installed capacity reaching 5.96 GW.

• Will focus on risk management, cost control, and value creation, aiming for sustained high-quality development.