China Power Subsidiary SPIC Hydropower Posts 168% Surge in Q1 Net Profit Despite Revenue Decline

Bulletin Express04-30

SPIC Hydropower Co., Ltd. (stock code: 600292), a 55.13%-owned subsidiary of China Power International Development Limited (China Power), reported robust earnings growth for the three months ended 31 March 2026, according to its unaudited PRC GAAP results released on 30 April 2026.

Revenue fell 18.55% year on year to RMB 2.47 billion, but tighter cost control and improved operating efficiency drove net profit attributable to shareholders up 168.00% to RMB 393.00 million. Excluding extraordinary items, underlying net profit rose 176.20% to RMB 392.16 million. Basic earnings per share increased to RMB 0.09 from RMB 0.03 in the prior-year period.

As at 31 March 2026, total assets stood at RMB 64.76 billion, 1.88% higher than a year earlier. Equity attributable to shareholders reached RMB 17.45 billion, marking a 2.55% rise.

The figures reflect SPIC Hydropower’s retrospective consolidation of assets acquired during the December 2025 restructuring, in accordance with PRC accounting standards for business combinations under common control.

China Power emphasised that the disclosed data pertain solely to SPIC Hydropower and do not represent the Group’s consolidated performance. Shareholders and potential investors are advised to exercise caution when dealing in China Power shares.

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