Huaneng Power International, Inc. (Huaneng Power) disclosed that its Board approved a RMB2.13 billion impairment charge for 2025, following a comprehensive asset and credit assessment conducted in accordance with China Accounting Standards for Business Enterprises (CAS).

Under CAS, the fourth-quarter provision totaled RMB1.50 billion—RMB1.40 billion in asset impairments and RMB105.00 million in credit impairments—reducing consolidated total profit by the same amount. Key drivers in Q4 included:

• Policy-driven shutdowns or standby: Shantou Power Plant (RMB519.00 million) and Yueyang Power Generation (RMB135.00 million). • Environmental or regulatory factors: Sihong New Energy (RMB132.00 million) and Yizheng Wind Power (RMB66.00 million). • Sustained operating losses: Shandong Sishui New Energy (RMB235.00 million) and Guilin Gas Distributed Energy (RMB154.00 million). • One-off write-downs on individual assets, such as Luobei Wind Power (RMB42.00 million) and Suzhou Co-generation (RMB18.00 million). Expected credit-loss provisions, mainly on heat-supply receivables, accounted for the RMB105.00 million credit impairment.

For the full year 2025, Huaneng Power recognized RMB2.02 billion in asset impairments and RMB111.00 million in credit impairments at the consolidated level. The parent-company impact was RMB144.00 million and RMB47.00 million, respectively. Under International Financial Reporting Standards, the consolidated asset impairment reached RMB2.15 billion, with the variance primarily stemming from differences in business-combination accounting.

The Audit Committee and full Board, at meetings held on 24–25 March 2026, confirmed that the methodology and evidence supporting the impairments complied with applicable accounting standards and accurately reflected the company’s asset position.