Electric power generation from hydropower: Net profit in 2025 was 532 million yuan, a year-on-year decrease of 34.07%.

State Grid Hydropower released its performance announcement, achieving a total operating income of 12.152 billion yuan in 2025, a year-on-year decrease of 15.90%; net profit was 532 million yuan, a year-on-year decrease of 34.07%. During the restructuring process, the divestment of new energy assets outside of Hunan province led to a decrease in profits, the water flow in the Yuan River basin was dry, and the intermediary service fees increased during the restructuring process, combined with the comprehensive impact of losses in the environmental protection sector's engineering business.