China Resources Power’s H1 net profit surged 54% on year, revenue up 2%

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China Resources Power said its interim net profit surged 54% year over year to HK$6.74 billion and proposed an interim dividend of 32.8 cents. The group’s revenue rose by 2% to HK$51.48 billion.

Its core profit contribution from renewable energy was HK$ 5.95 billion, up nearly 13%, while that from thermal power turned around to HK$726 million, compared with a loss of HK$1.44 billion in the same period last year.

By June 30, the group had a generating capacity of 70,793 MW and an attributable generating capacity of 54,986 MW, of which thermal power plants were 36,016 MW, accounting for 65.5%. The total capacity of wind, photovoltaic and hydro power projects was 18,970 MW, rising by 2.2 percentage points to 34.5%.