Chongqing Fuling Electric Power Industrial Co Ltd

Fuling Electric Power released its 2026 interim report, with net profit attributable to the parent company of 207 million yuan, up 23.91% from the same period last year. Total operating revenue was 1.301 billion yuan, down 8.17% year on year. Net cash inflow from operating activities was 399 million yuan, up 34.81% year on year. The company's latest asset-liability ratio was 11.10%, down 4.39 percentage points from the same period last year. Gross margin was 20.56%, up 2.48 percentage points year on year. Diluted earnings per share were 0.13 yuan, up 18.18% year on year.

Fuling Electric Power disclosed its 2026 half-year report, with net profit attributable to the parent company reaching 207 million yuan in the first half, up 23.91% year on year. The company achieved operating revenue of 1.301 billion yuan, down slightly by 8.17% year on year. Net profit after deducting non-recurring items was 204 million yuan, up 27% year on year. Net cash flow from operating activities was 399 million yuan, up 34.81% year on year. The company launched an interim profit distribution plan, proposing a cash dividend of 0.35 yuan per 10 shares, including tax, to all shareholders, with total cash dividends of about 53.779 million yuan, accounting for 26.02% of the current period's net profit attributable to the parent company.

In early trading on July 20, the three major A-share indices rose. The Shanghai Composite Index gained 1.18%, the Shenzhen Component Index rose 0.21%, and the ChiNext Index climbed 1.13%. Combined turnover on the two exchanges reached 1.67 trillion yuan, with over 2,900 stocks advancing. Sectors such as oil and gas, baijiu, and coal led the gains, while the power sector rebounded collectively. Jiawei New Energy, Huayin Electric Power, and Fuling Electric Power hit their daily limit up. Kweichow Moutai surged over 5% to 1,322.97 yuan. Before the market opened, multiple companies in the power and coal sectors announced plans to increase holdings or conduct buybacks. SDIC Power's controlling shareholder plans to increase its stake by 150 million yuan within six months. China Coal Energy's controlling shareholder plans to increase holdings by 50 million to 100 million yuan within 12 months. NARI Technology's chairman proposed a buyback of 500 million to 1 billion yuan. China Shenhua Energy announced a 2026 coal sales volume target of 618.1 million tonnes, a power generation target of 288.1 billion kilowatt-hours, and an operating revenue target of 360 billion yuan. Longyuan Power plans to distribute annual cash dividends of no less than 30% of net profit attributable to the parent company from 2025 to 2027. In addition, Aluminum Corporation of China's controlling shareholder plans to increase holdings by 1 billion to 2 billion yuan, and CRRC Corporation's controlling shareholder plans to increase holdings by 150 million to 300 million yuan. Both stocks rose over 6% in early trading.

Power sector concepts strengthened intraday. Among related constituent stocks, Huayin Electric Power rose 10.07%, Jinkai New Energy rose 10.05%, Lixin Energy rose 10.04%, Fuling Electric Power rose 10.01%, and Huadian Energy rose 10.00%. According to Jiangsu Power Grid, the province's peak electricity load reached 157.59 million kilowatts, setting a new historical record. This marks the tenth consecutive year the load has exceeded the 100-million-kilowatt threshold since first breaking it in 2016. A research report from Zhongtai Securities noted that as of February 2026, 11 provinces and cities nationwide have abolished fixed time-of-use electricity pricing, and the goal of full coverage for the electricity spot market is accelerating. Electricity retailers are shifting from spread arbitrage to risk management, significantly boosting demand for ancillary services in electricity trading.