The restructuring dividend realized the performance of China Electric Power (02380)'s hydropower platform exploded, and the hydropower sector continued to release growth momentum

The Zhitong Finance App learned that the A-share hydropower specialist operator of China Electric Power (02380) Holdings, recently disclosed a pre-increase announcement. It is expected to achieve net profit of about 1,190 billion yuan for the first half year of 2026, an increase of about 1,175 billion yuan compared with the same period last year (before retroactive adjustment), an increase of about 7673% over the same period last year; compared with the same period last year (after retroactive adjustment), an increase of about 653 million yuan, a year-on-year increase of about 122%. 600292.SH The impressive profit forecast fully demonstrates the implementation results of China Electric Power's major asset restructuring. Combined with the China Power Investment Group's long-term plan to continuously inject high-quality hydropower assets, the company's hydropower business is expected to open up room for long-term growth.

This leapfrog increase in performance stemmed from the implementation of major asset restructuring in 2025 and the fact that incoming water from the newly merged enterprise watershed was better, which led to an increase in the power generation capacity of hydropower assets.

On October 31, 2025, Dentou Hydropower completed the asset transfer between Wuling Electric Power Co., Ltd. and China Power Investment Group Guangxi Changzhou Hydropower Development Co., Ltd., and the two companies were included in the scope of the company merger, adding integrated hydroelectric power generation and new energy integrated development and operation services for watershed hydropower plants. It is worth noting that China Power Investment Group has shown clear strategic intentions in this restructuring, clearly promising to actively promote the successive injection of other hydropower assets under the China Power Investment Group into electricity and hydropower within three years after asset delivery is completed, and to support China Electric Power's continued control Stock power investment in hydropower promotes the gradual construction of electricity investment and hydropower into a platform for integrating hydropower assets within the China Power Investment Group.

After the implementation of related hydropower and supporting new energy assets, it will directly expand the installed capacity and profit volume of China Electric Power's hydropower sector. This is a major step for China Electric Power to optimize its hydropower asset structure and enhance its core competitiveness. In the context of energy transformation and the construction of new power systems, hydropower assets with stable profits and abundant cash flow continue to be favored by the market. Through its specialized hydropower operators, China Electric Power will share the dividends of restructuring and asset injection, form opportunities for asset expansion in the medium to long term, continue to open up the growth ceiling of the hydropower sector, and provide solid support for the company's long-term investment value.