华能国际表示，本期营收下降主要由于电价同比下降，净利润增长主要由于境内燃料成本降低促进火电增利，且公司新能源规模有序扩增带来增量增利。公告显示，2024年，公司中国境内各运行电厂平均上网结算电价为494.26元/兆瓦时，同比下降2.85%。境内火电厂售电单位燃料成本为300.31元/兆瓦时，同比下降8.00%。1. Huaneng Power International, Inc. earned over 10 billion last year, a year-on-year increase of 20%; 2. The company stated that the growth in net income was mainly due to reduced domestic fuel costs boosting thermal power profits, and the orderly expansion of the company's New energy Fund brought additional profits.
According to Caixin News on March 25 (Reporter: Liu Yue), benefiting from reduced domestic fuel costs and the expansion of New energy Fund scale, Huaneng Power International, Inc. (600011.SH) earned over 10 billion last year, a year-on-year increase of 20%.
Huaneng Power International, Inc., with a total market capitalization exceeding 110 billion yuan, released its annual report in the evening, showing a revenue of 245.551 billion yuan in 2024, a decrease of 3.48% year-on-year; net income attributable to the parent company was 10.135 billion yuan, a year-on-year increase of 20.01%.
Huaneng Power International, Inc. stated that the decline in revenue this period was mainly due to a year-on-year decrease in electricity prices, while the increase in net income was mainly due to reduced domestic fuel costs boosting thermal power profits, and the orderly expansion of the company's New energy Fund brought additional profit. The announcement indicated that in 2024, the average on-grid settlement price for the company's operating power plants in China was 494.26 yuan/MWh, a year-on-year decrease of 2.85%. The unit fuel cost for electricity sales in domestic thermal power plants was 300.31 yuan/MWh, a year-on-year decrease of 8.00%.
The company's net profit exceeding 10 billion last year set a record for the best performance since 2017, however, last year's net profit and growth rates were slightly lower than institutional expectations. According to Hithink RoyalFlush Information Network data, in the past six months, a total of 15 institutions made forecasts for the company’s 2024 annual performance, with an average forecast of 12.948 billion yuan, representing a year-on-year growth of 27.75%.
From the Company Business Data perspective, in the fourth quarter of 2024, the company's operating power plants in China completed an on-grid power generation of 111.699 billion kWh according to consolidated reporting standards, a year-on-year increase of 1.11%; for the entire year of 2024, the operating power plants in China cumulatively completed on-grid power generation of 452.939 billion kWh according to consolidated reporting standards, a year-on-year increase of 1.13%.
Huaneng Power International, Inc. continues to lay out its New energy Fund. The company stated that the increase in power generation was mainly due to the continued growth in wind power and photovoltaic installed capacity, with New energy Fund power generation rapidly increasing year-on-year. For the entire year of 2024, the company added controllable power generation installed capacity of 9,692.76 MW, including New energy Fund installed capacity of 9,417.71 MW.
Notably, Huaneng Power International, Inc. stated on the interaction platform that it strives to achieve that by the end of the 14th Five-Year Plan, the company's New energy Fund installed capacity will account for about 33% of the total installed capacity, with low-carbon clean energy installed capacity accounting for about 45%. Public information shows that 2025 is the concluding year of the 14th Five-Year Plan. As of December 31, 2024, the company's controllable power generation installed capacity was 145,125 MW, of which low-carbon clean energy installed capacity was 51,982 MW, accounting for 35.82%, an increase of 4.58 percentage points year-on-year.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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