Shares of China Resources Power (00836) jumped over 4% following the release of its interim results, with the stock trading up 3.32% at HK$19.28 at the time of writing, on a turnover of HK$353 million.
On August 26, the company reported its 2026 interim results, posting revenue of HK$54.98 billion, up 9.37% year-on-year. Profit attributable to owners of the company came in at HK$6.649 billion, down 15.53% year-on-year, with basic earnings per share of HK$1.28. An interim dividend of HK$0.321 per share was declared.
JPMorgan noted in a research report that China Resources Power's first-half performance exceeded expectations, with thermal power business profit growing 16% year-on-year. This came despite lower electricity prices during the period and rising fuel costs since April, highlighting the segment's resilience. The brokerage believes coal production and capacity tariff contributions provided earnings support.
The interim dividend of HK$0.321 per share represents a payout ratio of 25%, up from 23.4% in the same period last year, delivering a positive surprise to investors.
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