DATANG POWER (00991) saw its A-shares hit six consecutive trading limits, while its H-shares surged over 11% in early trading. At the time of writing, the stock was up 8.02%, trading at HKD 3.5 with a turnover of HKD 633 million. The company's first-quarter results showed operating revenue of RMB 30.271 billion, a year-on-year increase of 0.22%, and net profit attributable to shareholders of RMB 2.893 billion, up 29.26% year-on-year. Analysis indicates that against a backdrop of generally declining market-based electricity transaction prices nationwide, the company maintained stable revenue and achieved profit growth exceeding expectations, primarily benefiting from lower fuel costs and resilient electricity generation volume.

Notably, DATANG POWER recently announced an agreement with Jiangsu Guoxin Group and Ordos New Energy to establish a joint venture for developing the "Inner Mongolia Power to Jiangsu" ±800 kV ultra-high voltage direct current transmission project, with a static investment of approximately RMB 58.1 billion. Research points out that this project extends the company's power generation footprint to cross-provincial transmission channels, opening new avenues for future growth in electricity volume and profits.