China Longyuan Power Reports Strong Profit Growth in 2024

China Longyuan Power Group Corp Class H ( (CLPXF) ) has released its Q4 earnings. Here is a breakdown of the information China Longyuan Power Group Corp Class H presented to its investors.

China Longyuan Power Group Corp, a leading renewable energy company in China, specializes in wind and photovoltaic power generation. In its latest earnings report, the company announced a slight decrease in revenue to RMB37,070 million for 2024, with a notable increase in profit before taxation by 21.6% to RMB10,320 million. The net profit attributable to equity holders rose marginally by 0.2% to RMB6,425 million, and earnings per share increased to RMB0.7630. Key financial metrics highlighted a strong operating profit from continuing operations at RMB12,614 million, despite a decrease in revenue from discontinued operations. The company also reported significant capital expenditures in its wind and PV power segments, reflecting its ongoing commitment to expanding renewable energy capacity. Looking ahead, China Longyuan Power Group remains optimistic about its growth prospects, supported by favorable government policies and increasing demand for renewable energy in China.