Understanding the Market | DATANG RENEW fell over 3%, power generation increased by more than 10% in the first nine months, three departments adjusted the value-added tax policy for wind power generation and others
Datang Renewable's stock price fell over 3%, with a decline of 3.45% as of the time of publication, reported at HKD 2.52, with a trading volume of HKD 64.6341 million. The company announced that the power generation for the period ending September 30, 2025, was 25,890,603 megawatt-hours, an increase of 11.68% year-on-year. At the same time, the Ministry of Finance and two other departments issued a notice to adjust the value-added tax policy for wind power generation, canceling the 50% immediate refund policy for land-based wind power, while retaining the preferential policy for offshore wind power
According to Zhitong Finance APP, DATANG RENEW (01798) fell over 3%, down 3.45% to HKD 2.52 as of the time of writing, with a transaction volume of HKD 64.6341 million.
In terms of news, on the evening of October 17, DATANG RENEW announced that as of September 30, 2025, the group had cumulatively completed a power generation of 25,890,603 MWh in 2025, an increase of 11.68% compared to 2024. Among them, the completed wind power generation was 21,840,558 MWh, an increase of 7.40% compared to 2024; photovoltaic power generation was 4,050,045 MWh, an increase of 42.22% compared to 2024. It is noteworthy that the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration jointly issued a notice on the adjustment of the value-added tax policy for wind power generation. According to the notice, starting from November 1 of this year, the notice issued by the Ministry of Finance and the State Taxation Administration on the value-added tax policy for wind power generation in 2015 will be abolished. At that time, to encourage the use of wind power generation, a policy of 50% immediate refund of value-added tax was implemented for taxpayers selling self-produced electricity products generated from wind power, starting from July 1, 2015.
While canceling the above preferential policy, the notice clearly states that from November 1, 2025, to December 31, 2027, a policy of 50% immediate refund of value-added tax will be implemented for taxpayers selling self-produced electricity products generated from offshore wind power. Some analysts believe that this means the country has abolished the 50% immediate refund of value-added tax preferential policy for onshore wind power, but has temporarily retained this preferential policy for offshore wind power. This may be because onshore wind power technology is very mature, and costs are already competitive, no longer requiring special tax support
