On August 26, CHINA RES POWER rose 3.12% in regular trading, trading at HKD 18.85/share, with turnover of HKD 150 million.
On the news front, the company convened its board meeting today to review and approve interim results for the six months ended June 30, while also considering the declaration of an interim dividend. On the preceding day, its Shenzhen-listed subsidiary China Resources New Energy disclosed unaudited H1 financials showing shareholders' attributable net profit of RMB 3.312 billion.
Additionally, China Resources New Energy debuted on the Shenzhen Stock Exchange on July 2 with a first-day surge of 137%, and the overallotment option was subsequently fully exercised, bringing total IPO proceeds to approximately RMB 24.5 billion. The subsidiary issued an additional 316.1 million A shares at RMB 10.11 each, expanding total shares issued to 2.42 billion. The substantial capital raise further strengthens the group's balance sheet and investment capacity for renewable energy project development.
Operationally, CHINA RES POWER reported cumulative electricity sales of 143.2 million MWh for the first seven months, up 10.9% year-over-year, with photovoltaic output surging 37.5%.
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