Huadian Power International Posts Mixed 2025 Output as New Energy Squeezes Coal-Fired Utilisation

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2026.01.23 08:40
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Huadian Power International reported a total power generation of 262.27 million MWh for 2025, an 18% increase from 2024, but a 7% decrease after adjustments. The decline is attributed to increased new energy capacity and reduced coal-fired unit utilization. The average on-grid tariff rose 0.27% to RMB 513.29 per MWh, but fell 2.34% compared to adjusted data. Analysts rate the stock as a Buy with a target price of HK$4.50. The company, listed in Hong Kong, faces challenges from the energy transition in China.