China Power’s 2025 Profit Slips as Market-Based Tariffs Pressure Renewables

The latest announcement is out from China Power International Development ( (HK:2380) ).

China Power International Development reported a 9.6% drop in 2025 revenue to RMB49.0 billion and a 9.5% decline in net profit to RMB5.9 billion, with earnings per share down 11.1%, even as total power generation and electricity sold edged only slightly lower. Management attributed the weaker profitability mainly to reduced contributions from hydropower, wind and solar segments, despite higher revenue from wind and photovoltaic power.

The introduction of fully market-based on-grid tariffs for renewables compressed margins and, combined with lower rainfall affecting hydropower output, weighed on segment earnings. Thermal power revenue fell sharply after the partial disposal of a coal-fired subsidiary, but lower fuel costs and better coal procurement lifted thermal segment profit by about 45.8%, helping cushion the overall profit decline while the company continued expanding its clean energy capacity base.

The most recent analyst rating on (HK:2380) stock is a Hold with a HK$3.50 price target. To see the full list of analyst forecasts on China Power International Development stock, see the HK:2380 Stock Forecast page.

More about China Power International Development

China Power International Development is a Hong Kong-incorporated power producer with a diversified portfolio spanning thermal, hydropower, wind and photovoltaic generation. The group has been shifting its asset base towards clean energy, which now accounts for more than 80% of its 54,753.7MW installed capacity, positioning it as a major player in China’s low-carbon electricity market.

Average Trading Volume: 25,001,319

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$40.82B

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