Huaneng Power International Inc Class H (HK:0902)
:0902
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Huaneng Power International
(0902)
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Rating:56Neutral
Price Target:
HK$6.00
â–²(0.67% Upside)
Action:ReiteratedDate:04/03/26
The score is primarily driven by improving profitability and margins, but tempered by high leverage and historically weak/volatile free-cash-flow conversion. Technical indicators are neutral, and valuation support comes mainly from the ~4.9% dividend yield, with the P/E figure not usable from the provided data.
Positive Factors
Profitability Recovery
Net income has increased materially across 2023–2025, reflecting sustained margin expansion and operational recovery after prior losses. This durable earnings turnaround improves the company's ability to fund capex, service debt, and maintain dividend policy absent reliance on short-term market moves.
Negative Factors
High Leverage
Leverage remains a structural constraint in a capital-heavy power business. Elevated debt-to-equity and rising total debt limit financial flexibility, increase refinancing and interest-rate vulnerability, and reduce capacity to fund strategic investments without additional borrowing or equity issuance.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Recovery
Net income has increased materially across 2023–2025, reflecting sustained margin expansion and operational recovery after prior losses. This durable earnings turnaround improves the company's ability to fund capex, service debt, and maintain dividend policy absent reliance on short-term market moves.
Read all positive factors
Huaneng Power International (0902) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$114.16B
Dividend Yield4.74%
Average Volume (3M)31.20M
Price to Earnings (P/E)6.6
Beta (1Y)0.34
Revenue Growth-3.78%
EPS Growth34.93%
CountryHK
Employees56,263
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)-0.07
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$5.09Price Target Upside-14.53% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)0.73
Revenue Forecast (FY)HK$224.67B
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:Apr 29, 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
52
Neutral
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 229.29B | 245.55B | 254.40B | 246.72B | 204.61B |
| Gross Profit | 42.30B | 37.19B | 30.78B | 7.50B | 41.77B |
| EBITDA | 58.21B | 51.71B | 47.04B | 24.13B | 16.44B |
| Net Income | 14.41B | 10.14B | 8.45B | -10.08B | -13.19B |
Balance Sheet | |||||
| Total Assets | 611.79B | 586.84B | 541.16B | 502.61B | 500.77B |
| Cash, Cash Equivalents and Short-Term Investments | 19.46B | 19.93B | 16.85B | 17.18B | 16.35B |
| Total Debt | 276.91B | 256.93B | 253.78B | 300.51B | 297.70B |
| Total Liabilities | 399.27B | 383.79B | 369.80B | 376.06B | 367.21B |
| Stockholders Equity | 142.47B | 137.41B | 52.51B | 108.54B | 113.05B |
Cash Flow | |||||
| Free Cash Flow | 8.89B | -13.12B | -13.88B | -8.21B | -37.45B |
| Operating Cash Flow | 67.21B | 50.53B | 45.50B | 32.52B | 6.03B |
| Investing Cash Flow | -57.29B | -63.60B | -55.23B | -39.97B | -42.66B |
| Financing Cash Flow | -10.50B | 15.48B | 9.42B | 7.97B | 39.77B |
Huaneng Power International Technical Analysis
Neutral
5.96
Price Trends
5.83
Positive
5.99
Negative
5.74
Positive
Market Momentum
0.03
Positive
50.12
Neutral
46.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0902, the sentiment is Neutral. The current price of 5.96 is below the 20-day moving average (MA) of 6.03, above the 50-day MA of 5.83, and above the 200-day MA of 5.74, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 50.12 is Neutral, neither overbought nor oversold. The STOCH value of 46.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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$96.86B | 6.06 | 12.76% | 5.89% | 1.42% | -10.32% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
62 Neutral | HK$241.44B | 13.97 | 7.98% | 3.50% | -1.16% | -14.97% | |
61 Neutral | HK$67.69B | 5.00 | 9.77% | 5.62% | -0.44% | 333.39% | |
61 Neutral | HK$58.12B | 7.66 | 9.76% | 5.73% | 8.09% | 24.77% | |
56 Neutral | HK$114.16B | 6.58 | 11.62% | 4.74% | -3.78% | 34.93% | |
56 Neutral | HK$39.21B | 10.82 | 5.96% | 6.83% | 4.20% | -5.31% |
* Utilities Sector Average
HK:0902
Huaneng Power International
5.96
1.90
46.80%
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Huaneng Power International Corporate Events
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....
Huaneng Power International Details Board and Committee Structure
Jan 26, 2026
Huaneng Power International, Inc. has announced the current composition of its board of directors, detailing the roles of executive, non-executive, independent non-executive, and employee representative directors, with Wang Kui serving as chairman...
Huaneng Power International Appoints Wang Yu as Employee Representative Director
Jan 26, 2026
Huaneng Power International has amended its articles of association to provide for an 18-member board that includes one employee representative director and has now appointed Wang Yu as the employee representative director for the eleventh board t...
Huaneng Power Issues RMB2 Billion Mid-Term Notes to Refinance Energy Supply Debt
Jan 21, 2026
Huaneng Power International has completed the issuance of its first tranche of mid-term notes for 2026, a RMB2 billion special debenture for energy supply assurance with a 2+N-year maturity and a 1.91% coupon, under a broader mandate allowing the ...
Huaneng Power’s 2025 China Power Sales Dip as Green Transition Accelerates
Jan 16, 2026
Huaneng Power International reported that its operating power plants in mainland China sold 106.112 billion kWh of electricity in the fourth quarter of 2025, down 5.0% year-on-year, and 437.563 billion kWh for the full year, a decline of 3.39%, wi...
Huaneng Power Raises RMB3 Billion via Super Short-Term Commercial Papers
Jan 16, 2026
Huaneng Power International has completed the issuance of its second tranche of super short-term commercial papers for 2026, raising RMB3 billion in the domestic interbank bond market. The 27-day debentures, issued at an interest rate of 1.42% and...
Huaneng Power Issues RMB3 Billion Super Short-Term Notes to Refinance Debt
Jan 15, 2026
Huaneng Power International has completed the issuance of its first tranche of super short-term commercial papers for 2026, raising RMB3 billion in the domestic interbank bond market. The 27-day notes, carrying an interest rate of 1.42% and underw...
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.