Huaneng Power International Inc Class H (HK:0902)
:0902
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Huaneng Power International
(0902)
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Rating:66Neutral
Price Target:
HK$7.00
▲(13.09% Upside)
Action:Reiterated
Date:04/30/26
The score is driven primarily by mixed financial performance—improved profitability and solid operating cash flow, but constrained by high leverage and volatile/negative free cash flow. Technicals are supportive with a clear uptrend and positive momentum, and valuation is favorable with a low P/E and solid dividend yield.
Positive Factors
Strong operating cash flow
Consistently strong operating cash flow provides durable funding for day-to-day operations and routine maintenance in a capital‑intensive power business. Over 2–6 months this supports operational continuity, service of interest costs, and the ability to fund near‑term capex without immediate equity raises.
Negative Factors
High leverage / capital structure risk
Elevated debt amplifies sensitivity to interest rates and refinancing conditions for a capital‑intensive generator. Over the medium term, high leverage constrains strategic flexibility, raises fixed costs, and increases default and liquidity risk if earnings or cash flow weaken unexpectedly.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong operating cash flow
Consistently strong operating cash flow provides durable funding for day-to-day operations and routine maintenance in a capital‑intensive power business. Over 2–6 months this supports operational continuity, service of interest costs, and the ability to fund near‑term capex without immediate equity raises.
Read all positive factors
Huaneng Power International (0902) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$125.01B
Dividend Yield4.74%
Average Volume (3M)31.20M
Price to Earnings (P/E)5.2
Beta (1Y)0.38
Revenue Growth-6.95%
EPS Growth61.55%
CountryHK
Employees56,263
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)0.46
Shares Outstanding4,700,383,300
10 Day Avg. Volume30,061,728
30 Day Avg. Volume31,197,093
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)0.67
Price to Sales (P/S)0.41
P/FCF Ratio10.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$5.79Price Target Upside-6.50% Downside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.71
Revenue Forecast (FY)HK$224.16B
Huaneng Power International Business Overview & Revenue Model
Company Description
Huaneng Power International, Inc., together with its subsidiaries, engages in the generation and sale of electric power to the regional or provincial grid companies in the People's Republic of China and internationally. It is involved in the devel...
How the Company Makes Money
Huaneng Power International primarily makes money by generating electricity and selling it to grid companies and large customers under regulated and market-based arrangements. Key revenue streams typically include: (1) Electricity sales: Revenue i...
Huaneng Power International Earnings Call Summary
Earnings Call Date:Oct 29, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive and negative developments. While there was notable progress in renewable energy capacity and net profit growth, the company faced challenges with declining revenues, tariff reductions, and asset impairments. Overseas operations, particularly in Singapore, also showed a decrease in profitability.Positive Updates
Net Profit Increase
Net profit attributable to the parent after deducting nonrecurring profit and losses was CNY 10.028 billion, increasing by CNY 633 million or 6.73%.
Negative Updates
Decrease in Operating Revenue
The company achieved a consolidated operating revenue of JPY 184.396 billion in the first three quarters, decreasing by 3.62%.
Read all updates
Q3-2024 Updates
Positive
Negative
Net Profit Increase
Net profit attributable to the parent after deducting nonrecurring profit and losses was CNY 10.028 billion, increasing by CNY 633 million or 6.73%.
Read all positive updates
Company Guidance
During the third quarter earnings call for Huaneng Power International, several key metrics and guidance were discussed. The company reported a consolidated operating revenue of JPY 184.396 billion, showing a 3.62% decrease compared to the previous year. Net profit attributable to shareholders was CNY 10.41 billion, with earnings per share at JPY 0.53. The company saw a 1.14% increase in domestic on-grid power sales, reaching 341.24 billion kilowatt hours, despite a 2.63% decrease in average tariff to CNY 496.27 per megawatt hour. The unified cost for coal decreased by 8.74% to CNY 303.47 per megawatt hour. Key developments included the addition of 5,278.6 megawatts in new units, with 1,467.5 in wind power and 3,753.1 in solar power. The foreign operations faced challenges with a profit before tax in Singapore's Tuas Power dropping by CNY 1.394 billion. The company projects improvements in coal supply and demand balance for 2025, with expectations of stable coal consumption and a slight increase in coal supply. Additionally, the company incurred a CNY 727 million asset impairment for Jiangjin power plant, with future impairments being evaluated based on ongoing assessments.Huaneng Power International Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
42
Neutral
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 164.79B | 229.29B | 245.55B | 254.40B | 246.72B | 204.61B |
| Gross Profit | 29.34B | 42.30B | 37.19B | 30.78B | 7.50B | 41.77B |
| EBITDA | 20.06B | 58.21B | 51.71B | 47.04B | 24.13B | 16.44B |
| Net Income | 8.34B | 14.41B | 10.14B | 8.45B | -10.08B | -13.19B |
Balance Sheet | ||||||
| Total Assets | 614.70B | 611.79B | 586.84B | 541.16B | 502.61B | 500.77B |
| Cash, Cash Equivalents and Short-Term Investments | 21.73B | 19.46B | 19.93B | 16.85B | 17.18B | 16.35B |
| Total Debt | 293.01B | 276.91B | 256.93B | 253.78B | 300.51B | 297.70B |
| Total Liabilities | 407.69B | 399.27B | 383.79B | 369.80B | 376.06B | 367.21B |
| Stockholders Equity | 134.51B | 142.47B | 137.41B | 52.51B | 108.54B | 113.05B |
Cash Flow | ||||||
| Free Cash Flow | -3.59B | 8.89B | -13.12B | -13.88B | -8.21B | -37.45B |
| Operating Cash Flow | 40.23B | 67.21B | 50.53B | 45.50B | 32.52B | 6.03B |
| Investing Cash Flow | -43.35B | -57.29B | -63.60B | -55.23B | -39.97B | -42.66B |
| Financing Cash Flow | 368.53M | -10.50B | 15.48B | 9.42B | 7.97B | 39.77B |
Huaneng Power International Technical Analysis
Positive
6.19
Price Trends
6.24
Positive
6.00
Positive
5.95
Positive
Market Momentum
0.15
Negative
63.69
Neutral
50.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0902, the sentiment is Positive. The current price of 6.19 is below the 20-day moving average (MA) of 6.49, below the 50-day MA of 6.24, and above the 200-day MA of 5.95, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 63.69 is Neutral, neither overbought nor oversold. The STOCH value of 50.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0902.
Huaneng Power International Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$104.37B | 3.24 | 12.76% | 5.89% | -3.11% | -5.45% | |
66 Neutral | HK$125.01B | 5.19 | 13.13% | 4.74% | -6.95% | 61.55% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | HK$67.10B | 6.33 | 9.35% | 5.73% | 12.74% | 6.35% | |
62 Neutral | HK$124.62B | 3.92 | 16.76% | 5.62% | -2.05% | 96.13% | |
61 Neutral | HK$244.18B | 14.39 | 7.69% | 3.50% | -16.49% | -5.62% | |
56 Neutral | HK$43.79B | 16.05 | 5.96% | 6.83% | -9.52% | -14.11% |
* Utilities Sector Average
HK:0902
Huaneng Power International
6.48
1.74
36.74%
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0.50
16.56%
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Huaneng Power International Corporate Events
Huaneng Power Advances Coal-Fired Power REIT Spin-Off on Shanghai Market
Apr 28, 2026
Huaneng Power International has advanced a proposed spin-off involving its Huaneng Coal-fired Power REIT, as its board reviewed progress on the application for a public offering and listing of the infrastructure real estate investment trust on the...
Huaneng Power International’s Q1 2026 Profit and Cash Flow Decline Amid Stable Assets
Apr 28, 2026
Huaneng Power International reported unaudited first-quarter 2026 results prepared under PRC GAAP, showing operating revenue of RMB 56.78 billion and net profit attributable to equity holders of RMB 4.48 billion, both down year-on-year. Profitabil...
Huaneng Power Raises RMB3 Billion via 90-Day Super Short-Term Papers
Apr 27, 2026
Huaneng Power International has issued its eighth tranche of super short-term commercial papers for 2026, raising RMB3 billion in the domestic interbank bond market. The notes, with a 90-day maturity and a 1.33% interest rate, fall under an existi...
Huaneng Power Raises RMB3 Billion via Super Short‑Term Commercial Papers
Apr 23, 2026
Huaneng Power International, Inc. has completed the issuance of its seventh tranche of super short‑term commercial papers for 2026, raising RMB3 billion in the domestic interbank bond market. The notes carry a maturity of 86 days and a 1.35%...
Huaneng Power International Schedules Global Call on Q1 2026 Results
Apr 21, 2026
Huaneng Power International will release its first quarter 2026 results on 28 April 2026 and hold a global investor conference call on 29 April 2026, from 16:00 to 17:30 Beijing time. The call will cover the company’s operating results and k...
Huaneng Power’s Q1 2026 Electricity Sales and Tariffs Decline Amid Renewables Shift
Apr 14, 2026
Huaneng Power International reported that its power plants in mainland China sold 101.489 billion kWh of electricity in the first quarter of 2026, down 4.82% from a year earlier, while the average settlement tariff fell 5.63% to RMB460.73 per MWh....
Huaneng Power International Sets Board Meeting to Approve Q1 2026 Results
Apr 14, 2026
Huaneng Power International, Inc. has scheduled a board meeting for 28 April 2026 to review and approve its financial results for the three months ended 31 March 2026. The meeting will also address any other business matters, signalling that the c...
Huaneng Power International Announces Proposed 2025 Final Dividend and Tax Terms for H Shareholders
Mar 24, 2026
Huaneng Power International has proposed a final dividend of RMB 0.4 per share for the financial year ended 31 December 2025, with key timetable details such as shareholder approval date, ex-dividend date, record date, and payment date to be annou...
Huaneng Power Takes RMB1.5 Billion Profit Hit on 2025 Asset Impairments
Mar 24, 2026
Huaneng Power International has conducted an impairment review for 2025, leading to substantial write-downs on several generating assets and receivables in the fourth quarter. The company recognized consolidated asset impairment provisions of RMB1...
Huaneng Power Revamps Company Secretary Team After Retirement of Veteran Executive
Mar 24, 2026
Huaneng Power International announced that long-serving company secretary and authorised representative Huang Chaoquan has retired, with the board noting there were no disagreements and expressing appreciation for his contributions. The company ha...
Huaneng Power Board Backs 2025 Reports, Dividend and Management Pay Plan
Mar 24, 2026
Huaneng Power International’s board convened its eighteenth meeting of the eleventh session on 24 March 2026, with all 18 directors participating in person or by proxy and confirming compliance with PRC company law and the firm’s Artic...
Huaneng Power International Boosts 2025 Profit Despite Revenue and Volume Declines
Mar 24, 2026
Huaneng Power International reported audited results for 2025 showing consolidated operating revenue of RMB229.29 billion, down 6.62% year on year, while net profit attributable to equity holders jumped 42.73% to RMB14.54 billion, lifting earnings...
Huaneng Power International Schedules March 2026 Briefing on 2025 Annual Results
Mar 13, 2026
Huaneng Power International will release its 2025 annual results on the evening of 24 March 2026 and hold an in‑person results presentation in Beijing on 25 March 2026, from 8:30 a.m. to 9:45 a.m. Beijing time. Senior leadership, including t...
Huaneng Power Raises RMB1.5 Billion via Sixth 2026 Super Short-Term Note Issue
Mar 12, 2026
Huaneng Power International, Inc. has issued its sixth tranche of super short-term commercial papers for 2026, raising RMB1.5 billion in the domestic interbank bond market with a 70‑day maturity and a 1.47% interest rate. The issuance is par...
Huaneng Power Raises RMB2 Billion via Super Short-Term Commercial Papers
Mar 11, 2026
Huaneng Power International has completed the issuance of its fifth tranche of super short-term commercial papers for 2026, raising RMB2 billion in the domestic interbank bond market. The debentures, which carry a maturity of 66 days and an intere...
Huaneng Power International Sets Board Meeting to Approve 2025 Annual Results
Mar 9, 2026
Huaneng Power International, Inc. has scheduled a board meeting for 24 March 2026 to review and approve the annual results for the year ended 31 December 2025, covering the performance of the company and its subsidiaries. The board will also consi...
Huaneng Power Raises RMB3 Billion via Super Short-Term Commercial Papers
Mar 5, 2026
Huaneng Power International, Inc. has completed the issuance of its third tranche of super short‑term commercial papers for 2026, raising RMB3 billion in the domestic interbank bond market. The notes, with a 51‑day maturity and a 1.49%...
Huaneng Power International Raises RMB3 Billion via Super Short-Term Commercial Papers
Mar 5, 2026
Huaneng Power International has issued its fourth tranche of super short-term commercial papers for 2026, raising RMB3 billion in the domestic interbank bond market at an interest rate of 1.49% and a 55-day maturity. The issuance falls under a pre...
Huaneng Power International Revamps Senior Management Roles
Feb 11, 2026
Huaneng Power International has announced a change in its senior management, with long-serving Vice President and Secretary to the Board Huang Chaoquan resigning from those roles due to age, while remaining as Company Secretary and an authorised r...
Huaneng Power International Plans RMB12.75 Billion Entrusted Loans to Key Subsidiaries
Feb 11, 2026
Huaneng Power International plans to provide renewable entrusted loans of up to RMB11.75 billion to Shandong Company and up to RMB1 billion to Chaohu Power, both controlled subsidiaries, to support the continued supply capabilities of its thermal ...
Huaneng Power Raises RMB2 Billion via 2026 Energy Supply Assurance Debentures
Feb 5, 2026
Huaneng Power International has completed the issuance of its second tranche of 2026 mid-term notes designated as a Special Debenture for Energy Supply Assurance, raising RMB2 billion in the domestic interbank bond market. The notes, carrying a 1....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.