China Power sees mixed electricity sales in September, year-to-date

China Power International Development Limited announced a total of 9,465,705MWh in electricity sold by the group for September 2025, an 11.51% decrease compared to the same month last year. For the first nine months of 2025, total electricity sold amounted to 96,266,971MWh, a 2.24% decrease from the prior year period.

Wholly-owned or controlled power plants showed varied results: hydropower sales increased by 33.10% in September and decreased by 9.34% year-to-date. Wind power saw a 4.78% decrease for September but a 19.54% increase year-to-date, while photovoltaic power increased by 23.39% for September and 14.58% year-to-date. Coal-fired power experienced a significant 34.43% decrease in September and a 16.13% decline year-to-date.

Electricity sold from major associates' or joint ventures' power plants also presented a mixed picture. Wind power sales decreased by 26.50% in September and 37.93% year-to-date. Photovoltaic power, however, showed a 1.19% increase for September and a 17.35% increase year-to-date. Coal-fired power from associates decreased by 5.34% in September but rose by 9.24% for the first nine months of 2025. Overall, major associates' and joint ventures' electricity sold decreased by 5.83% in September but saw a 6.65% increase year-to-date.

The company highlighted reclassifications impacting reporting. A former associate engaged in wind power development is now classified as a "controlled power plant" since the company obtained a controlling stake in Q2 last year. Conversely, a former subsidiary primarily focused on coal-fired power generation is now a "major associate" following a "Deemed Disposal" at the end of last year. These reclassifications are important contextual factors when interpreting the reported electricity sales figures.