On June 1, Huaneng International Power rose 3.3% in regular trading, trading at HKD 7.58/share, with trading volume of HKD 184 million. The stock continued its upward momentum following multiple catalysts from the prior session.
On the news front, China Huaneng signed a strategic cooperation agreement with China Mobile on May 29, with both parties focusing on communications services, computing power services, and intelligent services. The computing-power and electricity synergy theme has continued to drive investor interest. Additionally, the stock benefited from strong fundamental support, as the company reported full-year net profit of RMB 14.41 billion for fiscal year ending December, representing a 42.17% year-over-year increase, while standard coal procurement costs declined 13.38%. The company's clean energy installed capacity exceeded 41% of total capacity, up more than 5 percentage points year-over-year, and its dividend payout ratio surpassed 53%, with total dividends exceeding RMB 6.2 billion.
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