Hubei Energy Group Logs 15% Rise in June Power Generation

State-owned Hubei Hongtai Group is set to increase its stake in Tianfeng Securities via a cash subscription for newly issued shares, according to a Tuesday filing with the Shanghai Stock Exchange.

The move is expected to boost Hongtai Group and its concerted action party Wuhan State-owned Capital Investment and Operation Group's stake in Tianfeng Securities to more than 30%, triggering a mandatory tender offer.

However, Tianfeng Securities has secured an exemption from this requirement.

Hongtai Group holds a 28% stake in Hubei Energy Group .

Hubei Energy's power generation in May rose 2.3% year on year to 3.48 billion kilowatt hours, according to a Shenzhen disclosure on Wednesday.

Both thermal power generation and new energy power generation climbed year on year during the month, rising 21% and 37%, respectively. Hydropower, however, fell 39% from the prior year.

Between January and May, the Chinese power company's power generation slipped 5.5% to 16.8 billion kWh from the prior year, the disclosure said.

Hubei Energy's power generation in April fell 5.7% year on year to 3.36 billion yuan, according to a Shenzhen Stock Exchange filing on Monday.

The drop is attributed to a decline in hydropower generation, which slumped 62% year on year. Thermal power and energy generation both increased on a year-on-year basis by 36% and 55%, respectively, during the month.

For the first four months of the year, the Chinese power company's power generation dropped 7.4% to 13.3 billion kWh from a year earlier, the filing said.

Hubei Energy's power generation in April fell 5.7% year on year to 3.36 billion yuan, according to a Shenzhen Stock Exchange filing on Monday.

The drop is attributed to a decline in hydropower generation, which slumped 62% year on year. Thermal power and energy generation both increased on a year-on-year basis by 36% and 55%, respectively, during the month.

For the first four months of the year, the Chinese power company's power generation dropped 7.4% to 13.3 billion kWh from a year earlier, the filing said.

Hubei Energy's net profit attributable to shareholders in 2024 rose 3.8% to 1.81 billion yuan from 1.75 billion yuan in the preceding year, according to a Shenzhen Stock Exchange disclosure on Friday.

Earnings per share increased 3.7% year on year to 0.28 yuan from 0.27 yuan.

The Chinese power company's operating income during the same period climbed 7.3% to 20 billion yuan from 18.7 billion yuan a year earlier, the disclosure said.

The company's shares closed over 5% lower.

Hubei Energy's net profit attributable to shareholders in the first quarter fell 54% to 356.2 million yuan from 779.7 million yuan in the previous year, according to a Shenzhen Stock Exchange disclosure on Friday.

Earnings per share dropped 50% year on year to 0.06 yuan from 0.12 yuan.

The Chinese power company's operating income during the same period slipped 20% to 4.18 billion yuan from 5.21 billion yuan a year earlier, the disclosure said.

The company's shares closed over 5% lower.