China Power International Development posted mixed interim results for the six months ended 30 June 2026.

Revenue dipped 5.87% year-on-year to RMB22.46 billion, while profit attributable to ordinary shareholders fell 50.80% to RMB1.27 billion. Basic EPS declined from RMB0.21 to RMB0.10.

Segment performance diverged markedly: • Hydropower profit surged 148.93% to RMB1.37 billion on favourable rainfall. • Wind power profit dropped 51.21% to RMB1.04 billion; photovoltaic profit plunged 89.05% to RMB78 million, both hurt by weaker resources and lower market tariffs. • Thermal power profit slid 56.17% to RMB626 million amid intensified competition and lower dispatch. • Energy-storage operations booked a RMB14 million loss versus a RMB6 million loss a year earlier.

Total electricity sold slipped 0.81% to 62.03 million MWh. Coal consumption for power supply was 295.14 g/kWh, 0.73 g/kWh higher year-on-year.

The Group’s consolidated installed capacity reached 57,397 MW (+6.41%), of which clean energy accounted for 82.89% or 47,577 MW.

Cash flow from operations was RMB6.76 billion; capex reached RMB8.51 billion, mainly for clean-energy projects. Total debt stood at RMB219.48 billion with a gearing ratio of 65%. Cash and cash equivalents rose to RMB10.23 billion.

No interim dividend was declared.

Post-period events include: • SPIC Hydropower’s placing of 383.98 million A-shares on 16 July, diluting China Power’s stake from 55.13% to 50.69% while retaining control. • Agreement on 18 August to sell the entire 24.87% stake in Shanghai Qiyuanxin Power Technology to CATL for RMB2.56 billion, expected to generate a gain of about RMB1.37 billion.

Management highlighted ongoing focus on high-quality clean-energy growth, cost control and optimisation of the power mix in the increasingly market-oriented electricity sector.