Zhejiang Zheneng Electric Power faces revenue dip despite generation increase

Zhejiang Zheneng Electric Power Co., Ltd. held its third-quarter 2025 earnings briefing on October 31, 2025. The company reported a revenue decrease of 11.29% and a net profit decrease of 6.96% year-on-year for the first three quarters of 2025. This was primarily due to lower electricity sales prices and a decline in external sales revenue from Zhonglai Co., Ltd. photovoltaic products. The company's total power generation increased by 4.68% during the period, indicating a "volume increase, price decrease" scenario.

Despite the challenges, the company’s cash flow remains robust, with an asset-liability ratio of approximately 44% by the end of the third quarter. While photovoltaic power generation saw substantial growth, this was attributed to a small base in the prior year. The company will continue to accelerate the construction of a new energy system, focusing on non-fossil energy and the clean and efficient utilization of fossil energy.

Zhejiang Zheneng Electric Power reiterated its commitment to investor protection through high dividend payouts and indicated that nuclear power remains a key investment area. The company has completed the acquisition of a 55% stake in Zhejiang Zheneng Carbon Asset Management Co., Ltd. to foster synergy between its thermal power and carbon asset businesses.