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One of China's largest thermal (coal) power generators, also expanding into wind and solar, listed in Hong Kong, Shanghai and New York.
One of China's largest thermal (coal) power generators, also expanding into wind and solar, listed in Hong Kong, Shanghai and New York.
Hong Kong-listed class of the same company as 600011: it earns by selling electricity to grids, mainly from coal plants, so profit depends on the gap between regulated or negotiated power prices and coal costs. Its state-owned parent, China Huaneng Group, steers it, and Tuas Power gives it a business in Singapore.
In one line: A Chinese NRG Energy/AEP for thermal power generation.
Moat: narrow (scale, installed base, regulatory licence). Large installed generation capacity and state-linked parent (China Huaneng Group) support project access and financing.
Headquarters: Beijing, China · Founded: 1994 · Employees: 56,104
Size Huaneng Power International (0902.HK) is a Hong Kong Utilities company (Electric Utilities) with a market value of $16.2B, the 106th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$6.22 on 6 Nov 2026.
Performance Over six months the shares fell 5.6%, against +1.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue fell 3.2% over the last twelve months (peer median +2.4%); the operating margin is 11.9% (peer median 19.5%).
Valuation It trades at 9.3× forward earnings against a peer median of 18.4× (7th cheapest of 21).
Capital Return on invested capital runs 1.3 points below its cost of capital (5.2% WACC).
Next results Next results expected around 23 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$247B | HK$246B | HK$264B | HK$279B | HK$285B |
| Revenue growth | — | -7% | -5% | -2% | — |
| Gross profit | HK$47.9B | HK$50.2B | HK$45.7B | HK$40.0B | HK$15.4B |
| EBITDA | HK$61.6B | HK$63.1B | HK$57.1B | HK$51.5B | HK$27.2B |
| Net income | HK$10.5B | HK$12.8B | HK$7.87B | HK$6.01B | -HK$11.9B |
| Free cash flow | -HK$4.78B | -HK$1.10B | -HK$23.9B | -HK$23.9B | -HK$23.7B |
| Capital expenditure | HK$63.1B | HK$63.3B | HK$67.0B | HK$64.8B | HK$47.2B |
| Total debt | n/a | HK$444B | HK$412B | HK$412B | HK$415B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Huaneng Power International 0902.HK | $16.2B | -6% | -3% | 12% | 9.3× | n/a |
| China Res Power 0836.HK | $13.5B | +6% | +2% | 18% | 9.0× | n/a |
| Datang International Power Generation 0991.HK | $10.7B | -20% | +3% | 15% | 5.5× | 4.0% |
| Huadian Power International 1071.HK | $8.73B | 0% | +13% | 8% | 9.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0902.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.3% | +5.4% | 8th lowest of 21 |
| 6-month return | -5.6% | +1.6% | 6th lowest of 21 |
| Distance from 52-week high | -18.5% | -9.7% | 8th lowest of 21 |
| Revenue growth (TTM) | -3.2% | +2.4% | 6th lowest of 21 |
| Operating margin | 11.9% | 19.5% | 7th lowest of 21 |
| Forward P/E | 9.3× | 18.4× | 7th cheapest of 21 |
| ROIC minus cost of capital | -1.3 pp | -1.9 pp | 7th highest of 21 |
| EV / EBITDA | 10.6× | 12.5× | 5th cheapest of 14 |
| Net debt / EBITDA | 7.1× | 5.5× | 3rd most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Huaneng Power International 0902.HK | Hong Kong | $16.2B | -6% | -3% | 12% | 9.3× | n/a | n/a |
| Emera EMA.TO | Canada | $15.7B | 0% | +11% | 19% | 20.2× | n/a | n/a |
| Kansai Electric Power 9503.T | Japan | $17.3B | +2% | +2% | 6% | 8.2× | 11.0% | +5.6% |
| Power Assets 0006.HK | Hong Kong | $17.8B | +3% | -12% | 50% | 21.0× | 35.8% | -9.5% |
| Kepco 015760.KS | South Korea | $14.4B | -30% | +2% | 13% | 4.5× | -1.9% | +10.7% |
| GD Power Development 600795.SS | China | $14.4B | +13% | -1% | 9% | 19.2× | -0.4% | +3.4% |
| NRG Energy NRG | United States | $18.6B | -36% | +13% | 5% | 9.0× | 15.4% | +27.9% |
| Alliant Energy LNT | United States | $18.8B | +1% | +5% | 23% | 20.8× | n/a | n/a |
| Adani Energy Solutions ADANIENSOL.NS | India | $18.9B | +5% | +33% | 25% | 37.4× | n/a | n/a |
| SDIC Power 600886.SS | China | $19.0B | +16% | -3% | 32% | 17.5× | -1.6% | +6.5% |
| China Res Power 0836.HK | Hong Kong | $13.5B | +6% | +2% | 18% | 9.0× | n/a | n/a |
| Evergy EVRG | United States | $20.2B | +8% | +4% | 26% | 19.4× | n/a | n/a |
| Sichuan Chuantou Energy 600674.SS | China | $13.0B | +16% | -1% | 29% | 17.2× | 32.3% | +10.0% |
| Keppel BN4.SI | Singapore | $13.0B | -13% | +11% | 11% | 18.9× | 14.8% | -1.9% |
| Uniper UN0.DE | Germany | $20.6B | 0% | -14% | -8% | 33.3× | 1.7% | +3.6% |
| Pinnacle West Capital PNW | United States | $12.6B | +5% | +8% | 23% | 19.1× | n/a | n/a |
| Cki 1038.HK | Hong Kong | $21.6B | +9% | -9% | -3% | 7.1× | -0.9% | -9.3% |
| CMS Energy CMS | United States | $21.7B | -5% | +8% | 20% | 17.1× | n/a | n/a |
| Terna TRN.MI | Italy | $22.0B | -2% | +11% | 42% | 17.8× | n/a | n/a |
| Tata Power TATAPOWER.NS | India | $11.9B | -20% | -4% | 13% | 25.0× | n/a | n/a |
| Edison International EIX | United States | $22.8B | -14% | +3% | 27% | 9.2× | n/a | n/a |