HUANENG POWER (00902) announced its 2025 financial results. Consolidated operating revenue reached RMB 229.288 billion, representing a decrease of 6.62% compared to the previous year. Net profit attributable to equity holders of the company was RMB 14.537 billion, marking a significant increase of 42.73% year-on-year. Earnings per share stood at RMB 0.75, and a final dividend of RMB 0.4 per share is proposed.

Revenue from the company's domestic operations in China decreased by RMB 13.931 billion compared to the prior year. This was primarily due to a decline in both electricity sales volume and tariff rates within China. Revenue from the Singapore operations decreased by RMB 2.979 billion year-on-year. The main reason for this was a noticeable drop in the overall Singapore electricity market price compared to the previous year, influenced by market supply and demand, tariff policies, and the operation of fast-response gas turbines. This led to lower tariffs for new retail contracts signed by Tuas Power. Revenue from the Pakistan operations increased by RMB 647 million year-on-year, mainly driven by an increase in electricity sales volume.

Net profit attributable to equity holders from the domestic China operations increased by RMB 4.788 billion compared to the previous year. This improvement was primarily due to lower fuel costs, which enhanced the profitability of thermal power generation. Net profit from the Singapore operations decreased by RMB 387 million year-on-year. The company conducted a thorough analysis of changes in the Singapore power and fuel markets, guiding Tuas Power to respond agilely to market dynamics. Through the continuous promotion of lean management, the company achieved relatively sound operational results under the prevailing market conditions.