---
title: "Daiwa Says HUANENG POWER  2Q Results May Confirm Earnings Have Peaked, Reiterates 'Underperform' Rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296296715.md"
description: "Daiwa Securities reiterated its 'Underperform' rating on Huaneng Power, citing weak Q2 results with recurring profit down 54.7% YoY. The broker suggests earnings may have peaked, as falling coal price benefits are being offset by pressure on electricity tariffs. Daiwa maintained a HKD5.2 target price for the company's H-shares."
datetime: "2026-08-19T03:26:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296296715.md)
  - [en](https://longbridge.com/en/news/296296715.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296296715.md)
generator: "portal-rs"
---

# Daiwa Says HUANENG POWER  2Q Results May Confirm Earnings Have Peaked, Reiterates 'Underperform' Rating

Daiwa issued a research report saying that HUANENG POWER (00902.HK) -0.380 (-6.678%) Short selling $47.50M; Ratio 47.538% 's 2Q results were weak, with recurring profit falling 54.7% YoY to RMB1.817 billion and net profit declining 51% to RMB2.102 billion. Profits from the coal-fired power, wind power and solar power businesses also decreased.

Daiwa noted that the 2Q results may confirm that HUANENG POWER (00902.HK) -0.380 (-6.678%) Short selling $47.50M; Ratio 47.538% 's earnings already peaked last year, while pressure on electricity tariffs is increasingly offsetting the benefits from falling coal prices. The broker reiterated its 'Underperform' rating on the company and its H-share TP of HKD5.2.(sl/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-18 16:25.)

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**