Huadian Power reports profit, approves dividend, and greenlights growth

Huadian Power International Corporation (HKEX: 1071) reported a profit of RMB5,670 million attributable to equity holders for the financial year ended December 31, 2024, accompanied by a proposed annual cash dividend of RMB0.21 per share. While power generation decreased slightly to 222.63 million MWh and turnover fell by 3.42% to RMB112,392 million, the company saw increased operating profit due to lower fuel prices. Looking ahead, Huadian plans capital expenditures of approximately RMB12 billion in 2025. A significant move towards renewable energy includes an Investment Agreement with Luzhong Holding and Huadian Hong Kong to form a Joint Venture Company for a Shandong pumped storage project.