China Datang Corp Renewable Power Co Ltd (HKG:1798) earlier this week reported a 108% increase in its profit attributable to the owners of the parent for the first half of 2018, to CNY 947 million (USD 138.3m/EUR 120m).
The net profit margin for the six months jumped to 25.5% from 15.63% a year back, mainly due to an increase in revenues from sales of electricity. The company, which has 8.7 GW of installed wind power generation capacity and some other power assets, said a drop in wind power curtailment and an increase in the average utilisation hours of wind power helped it boost its profitability.
Operating profit grew to CNY 2.3 billion from CNY 1.49 billion in the first half of 2017.
Revenues from contracts with customers stood at CNY 4.37 billion, up by 26% year-on-year. Electricity sales revenues rose by 27.16% to CNY 4.34 billion. The company produced 9.55 TWh of power in the period, including 9.4 TWh of wind power, which is 30% more than in the same six months of 2017.