Datang Power's stock surged 5.25% during early intraday trading on Wednesday, continuing its recent strong performance momentum.

The rally appears driven by multiple positive catalysts. The company reported first-quarter net profit attributable to shareholders surged 29.26% year-over-year to RMB 2.89 billion, exceeding market expectations, with analysts attributing the outperformance to declining fuel costs and resilient power volumes from thermal assets concentrated in the Beijing-Tianjin-Tangshan region.

Additionally, the company signed an agreement to co-develop a massive ultra-high-voltage direct current transmission project linking Inner Mongolia to Jiangsu, with total static investment of approximately RMB 58.1 billion, encompassing wind, solar, coal-fired generation, and energy storage capacity. The H-share advance follows five consecutive limit-up sessions for the company's A-share listing, which accumulated a 61.06% gain over that period.