Datang International Power Generation Co., Ltd. (601991) experienced notable share price movement on February 13, 2026, closing at 3.63 yuan, down 3.97%. This volatility is primarily linked to the following factors.
The company issued a 2025 earnings forecast in February 2026, anticipating annual net profit attributable to shareholders of 6.8 to 7.8 billion yuan, representing a year-on-year increase of 51% to 73%. The market had already priced in this positive news in advance. On February 13, main fund flows showed a net outflow of 1.2343 million yuan, while hot money saw a net inflow of 25.8769 million yuan. This indicates that some institutional capital chose to take profits after the earnings announcement became clear, while speculative funds engaged in short-term trading. Furthermore, main funds also recorded a net outflow of 4.3076 million yuan on February 10, with consecutive net outflows exerting downward pressure on the share price.
As of February 13, the share price fell below the 20-day moving average of 3.808 yuan. The lower Bollinger Band support level stood at 3.596 yuan. The MACD histogram turned negative to -0.045, and the J-line of the KDJ indicator dropped to 17.069, suggesting weak short-term technical indicators. The turnover rate for the day reached 1.43%, with a trading volume of 647 million yuan, significantly higher than previous days, reflecting increased market divergence.
On February 11, the State Council issued an implementation opinion on improving the nationally unified power market system, aimed at deepening power market reforms. While this is a long-term positive for the industry, it increases short-term uncertainty. Additionally, the company recently issued 3 billion yuan in special energy supply bonds with a coupon rate of 1.89%. Although this optimizes its debt structure, the market may focus on the potential impact of its debt ratio of 66.22% on profitability.
The share price movement for Datang Power results from a combination of profit-taking after the positive earnings forecast, technical adjustments, and evolving industry policy expectations. Future attention should be paid to the specific data in the 2025 annual report, progress in clean energy capacity installation, and the actual impact of power market reforms on the company's profitability.