Huaneng Power International Inc
(STU:HUP1)
€
0.61
+0.028 (+4.78%)
Market Cap: 12.65 Bil
Enterprise Value: 60.09 Bil
PE Ratio: 11.61
PB Ratio: 0.79
GF Score: 61/100 
Half Year 2026 Huaneng Power International Inc Earnings Call (Chinese, English) Transcript
Aug 19, 2026 / 08:00AM GMT
Release Date Price:
€0.5734
(-6.12%)
Key Points
Positve
- Renewable capacity grew by 2.55 GW in H1 2026, with low-carbon clean energy now comprising over 42% of total installed capacity.
- Tuas Power in Singapore delivered a strong EBIT of RMB745 million, while the Sahiwal Plant in Pakistan contributed RMB451 million in earnings.
- The company successfully reduced standard coal costs by 2.84% year-on-year to RMB891.02 per ton through strategic procurement and inventory management.
- Coal-fired units achieved higher spot market tariffs (RMB387/MWh) compared to medium- and long-term contracts, boosting profitability.
- The company maintained a dividend payout ratio of no less than 50%, with 2026 dividends increasing 50% year-on-year to RMB0.4 per share.
Negative
- Consolidated operating revenue fell 4.58% year-on-year to RMB106.91 billion, and net profit attributable to shareholders dropped 28.89% to RMB6.59 billion.
- Domestic on-grid power sales decreased 2.97% and average tariffs fell 4.59% due to rising renewable capacity displacing coal-fired generation.
- Unit fuel costs surged in Q2 2026, with a 14.56% quarter-on-quarter increase, driven by higher coal and gas prices amid geopolitical tensions.
- Tuas Power's profitability declined due to expiring high-margin contracts, a stronger Singapore dollar, and higher carbon taxes, reducing EBIT by RMB618 million year-on-year.
- Several plants reported losses in H1 2026, including 12 coal-fired plants (60% of total) and 44 PV farms (11%), reflecting tariff declines and rising fuel costs.
Operator
Good afternoon, ladies and gentlemen. On behalf of Huaneng Power International Inc., I would like to welcome you all to the conference call regarding the interim results announcement of 2026.
Now, may I introduce the management of the company today. Executive Director and the President of the company, Mr. Liu Ancang.
Liu Ancang
Huaneng Power International Inc - President and Executive Director
(spoken in foreign language)
Operator
The Independent Director of the company, Mr. Xianchong Zhang
Xianchong Zhang
Huaneng Power International Inc - Independent Director
(spoken in foreign language)
Operator
The Chief Accountant and the Board Secretary of the company, Mr. Wen Minggang.
Minggang Wen
Huaneng Power International Inc - Chief Accounting Officer, Secretary of the Board
(spoken in foreign language)
Operator
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