Datang International Power Generation Co., Ltd. (Datang Power) released its 2025 annual report on March 28. The company reported annual revenue of 121.255 billion yuan, a decrease of 1.8% year-on-year. However, net profit attributable to shareholders reached 7.386 billion yuan, marking a significant increase of 63.91% compared to the previous year. This result exceeded market expectations, as analysts had generally projected a profit of approximately 6.2 billion yuan.

Revenue from electricity and heat sales collectively accounted for 93.22% of the company's total primary business revenue. Electricity sales revenue was 105.091 billion yuan, down approximately 2.33% from the previous year. Heat sales revenue reached 6.579 billion yuan, an increase of about 4.67% year-on-year. The decrease in electricity sales revenue, which fell by about 2.503 billion yuan in 2025, was primarily attributed to a year-on-year decline in on-grid electricity tariffs.

In 2025, Datang Power's cumulative power generation reached 288.955 billion kilowatt-hours, an increase of about 1.33% year-on-year. Cumulative electricity sold to the grid amounted to 273.1092 billion kilowatt-hours, rising by approximately 1.41%. The company's installed operational capacity stood at 86,192.081 megawatts. Coal-fired power capacity accounted for 49,134 megawatts, representing about 57.01% of the total. Gas-fired power capacity was 9,479.38 megawatts, constituting approximately 11.00%. Thermal power remains the dominant segment of the business.

On the cost side, fuel costs for power generation represented 54.04% of the primary business costs in 2025. Total fuel expenses amounted to 52.87 billion yuan, a reduction of 9.563 billion yuan compared to the previous year. Throughout the year, Datang Power procured a total of 119.7749 million tonnes of coal. The average price for standard coal used in coal-fired units was 742.4 yuan per tonne (excluding tax), a decrease of 128.94 yuan per tonne, or 14.80%, year-on-year. This provided a solid foundation for improved operational efficiency.

While achieving record operational performance, the company also accelerated its transition to low-carbon energy. The annual report indicates a continuous increase in the proportion of clean energy. In 2025, Datang Power added 5,120.854 megawatts of new clean energy capacity. The total installed clean energy capacity reached 37,058.081 megawatts, accounting for approximately 42.99% of the total installed capacity. This represents an increase of 2.62 percentage points from the previous year. The combined installed capacity for wind and solar power has reached 18,373.971 megawatts.