HUANENG POWER (00902) rose more than 8%, gaining 8.46% to HK$6.54 by the time of writing, with a turnover of HK$294 million. The company reported its financial results for the first three quarters, posting revenue of RMB172.975 billion, down 6.19% year-on-year, while net profit attributable to shareholders increased 42.52% to RMB14.841 billion. In the third quarter alone, revenue stood at RMB60.943 billion, a 7.1% decline, but net profit surged 88.5% to RMB5.579 billion. Guosheng Securities attributed the profit growth to lower fuel costs and expansion in renewable energy. As a leading power company in China, HUANENG POWER continues to see improving profitability in coal-fired power and significant growth potential in its renewable energy transition. China Merchants Securities noted that, with expectations of a cold winter, the company's thermal power segment is poised to play a key role in supply stability, projecting a recovery in Q4 power generation. Full-year coal prices are expected to remain low, while the two-part electricity tariff system stabilizes earnings, supporting sustained high growth in coal power performance. In Q3, the company added 2.3081 GW of newly connected power generation capacity, which is expected to further drive profit growth.