HK Stock Market Move | Huaneng Power International, Inc. (00902) rose more than 8% with a year-on-year growth of 88.5% in net profit attributable to shareholders in the third quarter. Coal-fired power profits continue to improve.

Huaneng Power International, Inc. (00902) rose more than 8%, up 8.46% to HKD 6.54 as of the time of publication, with a turnover of HKD 294 million. In terms of news, Huaneng Power released its performance for the first three quarters, with the company achieving operating income of RMB 172.975 billion, a decrease of 6.19% year-on-year; net profit attributable to owners was RMB 14.841 billion, an increase of 42.52% year-on-year. Looking at the third quarter alone, the company achieved operating income of RMB 60.943 billion, a decrease of 7.1% year-on-year; and achieved a net profit attributable to owners of RMB 5.579 billion, an increase of 88.5% year-on-year. Guosheng Securities believes that the growth in performance is mainly due to the decrease in fuel costs and the expansion of new energy. As a leading national power company with prominent advantages, Huaneng Power's coal-fired power profit continues to improve, and there is ample room for growth in the transformation to new energy. CMSC also stated that with the expectation of a cold winter, the company's thermal power is expected to fully play a role in ensuring supply, and electricity in Q4 is expected to show some recovery; coal prices are expected to remain at a relatively low level for the whole year, stable profitability with the implementation of the "dual control" electricity price policy, and coal-fired power performance is expected to continue to grow at a high rate; the company's newly connected power generation installed capacity in Q3 was 2.3081 million kilowatts, which is expected to further contribute to performance growth.