CHN Energy Changyuan Electric Power Co Ltd

Changyuan Electric Power announced that it generated 3.253 billion kilowatt-hours of electricity in September 2026, up 18.66% year-on-year. By segment, thermal power generation rose 26.13% year-on-year, hydropower fell 53.10%, and new energy grew 24.36%. Cumulative power generation from January to September reached 26.528 billion kilowatt-hours, down 2.94% year-on-year.

Changyuan Power released its 2026 interim report, with net profit attributable to the parent company of 173 million yuan, up 82.39% from the same period last year. Total operating revenue was 6.859 billion yuan, up 3.70% year-on-year; net cash inflow from operating activities was 1.347 billion yuan, down 19.40% year-on-year. The company's latest asset-liability ratio was 65.88%, gross margin was 8.34%, ROE was 1.28%, and diluted earnings per share was 0.05 yuan.

As of now, 22 companies in the Shenzhen-listed utilities sector have disclosed earnings forecasts. More than half reported year-on-year profit growth, and 10 saw net profit rise by over 50%, with overall profitability improving markedly. Qianyuan Power expects first-half net profit attributable to the parent of 220 million to 255 million yuan, up 73.01% to 100.54% year on year, with power generation reaching 4.036 billion kilowatt-hours, a 26.10% increase. Chuanneng Power expects net profit attributable to the parent of 650 million to 720 million yuan, up 112.41% to 135.29%, mainly driven by the commissioning of lithium mining and lithium salt projects and the grid connection of wind power projects. Fuchun Environmental Protection expects net profit attributable to the parent of 298 million to 335 million yuan, up 60% to 80%, with higher product prices in the non-ferrous metal resource recycling business as the main driver. Lixin Energy expects net profit attributable to the parent of 60 million to 80 million yuan, up 570.26% to 793.68%, as the grid connection of a joint venture's outbound power transmission project from Xinjiang led to a sharp increase in investment income. Changyuan Electric Power expects net profit attributable to the parent of 149 million to 215 million yuan, up 57.14% to 126.74%, benefiting from lower standard coal unit prices and higher average electricity selling prices. Hunan Development expects net profit attributable to the parent to rise 318.91% to 391.77% year on year, following the completion of a major asset restructuring that brought four hydropower companies into the consolidated financial statements and significantly expanded hydropower installed capacity. Overall, in the first half of 2026, the Shenzhen-listed utilities sector achieved broad-based growth across sub-sectors such as power, new energy, and environmental protection. Many companies benefited from multiple tailwinds including project commissioning, abundant water inflows, lower fuel costs, and asset restructurings, delivering relatively rapid profit growth.