Shanghai Electric Power (600021) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months reached ¥32.15 billion, up 7.85% year-over-year.

• Net profit attributable to shareholders was ¥3.05 billion, a 24.04% increase year-over-year.

• Operating cash flow surged 65.52% year-over-year, driven by lower coal prices.

Financial highlights

• Q3 revenue was ¥11.68 billion, down 6.15% compared to the same quarter last year.

• Q3 net profit attributable to shareholders was ¥1.14 billion, up 0.80% year-over-year.

• Basic and diluted EPS for the first nine months were both ¥1.0008, up from ¥0.7910 year-over-year.

• Total assets at quarter-end were ¥200.86 billion, up 6.06% from the previous year-end.

• Owner's equity attributable to shareholders was ¥30.82 billion, up 6.01% from year-end.

Key financial ratios and metrics

• Weighted average ROE for the first nine months was 13.91%, up 2.29 percentage points year-over-year.

• Gross margin improved due to lower fuel costs.