Datang Power (Datang International Power Generation Co., Ltd.) reported solid interim results for the six months ended 30 June 2026, underpinned by resilient power demand, lean cost management and declining interest expenses.

Key financials • Operating revenue reached RMB 58.42 billion, up 2.14% year on year (YoY). Electricity sales contributed RMB 49.37 billion, 1.23% higher than the prior-year period. • Total operating costs edged up only 0.81% to RMB 48.66 billion despite new generating units coming on-line. • Profit before tax climbed 13.61% to RMB 8.72 billion; net profit attributable to equity holders rose 19.32% to RMB 5.82 billion. • Basic earnings per share increased by RMB 0.063 to RMB 0.2845. • Net finance costs fell 8.18% to RMB 2.08 billion, driving the margin expansion; blended financing cost declined 15 basis points YoY to 2.28%. • The board declared an interim dividend of RMB 0.068 per share (tax inclusive).

Balance sheet and liquidity • Total assets stood at RMB 338.38 billion as of 30 June 2026, up RMB 4.74 billion from end-2025. • Total liabilities rose slightly to RMB 235.28 billion, resulting in an asset-to-liability ratio of 69.53%. • Cash and equivalents totalled RMB 10.92 billion; net debt-to-equity was 177.02%. • Undrawn committed credit lines exceeded RMB 150 billion, providing ample liquidity.

Operational highlights • Installed clean-energy capacity reached 37.18 GW, accounting for 43.27% of total capacity, reflecting progress in wind, solar and hydro expansion under the “Harness Wind & Embrace Solar” campaign. • The company maintained full compliance with national power-supply mandates during peak seasons, emphasising equipment maintenance and coal inventory management. • Cost leadership initiatives included expanded low-cost funding channels and tighter fuel procurement controls.

Segment performance • Power and heat generation remained the core contributor with RMB 55.18 billion in external revenue and RMB 7.01 billion in segment profit. • Other businesses, including aluminium smelting, coal mining and fly-ash treatment, delivered RMB 3.24 billion in revenue and RMB 1.29 billion in segment profit.

Capital market activity Between January and late August 2026, Datang Power raised RMB 39.50 billion through medium-term notes, super short-term debentures and corporate bonds, supporting ongoing capital expenditure and debt refinancing.

Strategic outlook for H2-2026 Management plans to: 1. Reinforce production safety and equipment reliability ahead of winter and summer peaks. 2. Deepen marketing-led, fuel-focused operational management to stabilise earnings. 3. Accelerate new-energy project roll-outs in line with China’s 15th Five-Year Plan, prioritising cost-competitive wind and solar bases. 4. Sustain coal supply security and further reduce fuel and logistics costs through enhanced procurement and benchmarking.

Governance and compliance The company maintained adherence to Hong Kong’s Corporate Governance Code, with minor deviations due to directors’ scheduling conflicts. No share repurchases occurred during the period.

Datang Power views the remainder of 2026 as an opportunity to consolidate gains from its “Management Enhancement Year”, aiming to balance profitability with an accelerated green transformation trajectory.