Sichuan Chuantou profit falls and Sichuan Chuantou stock sits 1.54 percent below high

Sichuan Chuantou profit fell in the first half of 2026, with net profit attributable to shareholders down 5.34 percent year over year to CNY 2.33 billion. Futubull reported the interim figures on September 10, 2026, highlighting weaker inflows at Yalong River Hydropower and lower electricity prices.

Revenue and earnings both declined

Operating revenue reached CNY 680.0 million in the first half of 2026, a 4.53 percent year-over-year decline. Basic earnings per share fell 5.35 percent to CNY 0.48, while weighted average return on equity decreased by 0.66 percentage points to 5.06 percent, according to Futubull.

The comparison points to a profitability issue rather than a simple production shortfall. Controlled power generation increased 0.85 percent year over year to 2.381 billion kilowatt-hours, but the average grid-connected electricity price fell 2.52 percent to CNY 0.271 per kilowatt-hour.

Hydropower remains the earnings anchor

Investment income totaled CNY 2.399 billion in the first half of 2026, down 5.95 percent year over year. Yalongjiang Hydropower accounted for 92.87 percent of Sichuan Chuantou's profit contribution, making water inflows and power prices the central operating variables for the company.

The hydropower portfolio generated 2.274 billion kilowatt-hours in the period, up 2.06 percent year over year, while photovoltaic generation fell 19.55 percent to 107 million kilowatt-hours. That split shows why the expansion of hydropower capacity matters more to the earnings profile than the photovoltaic business at present.

Stock remains near its yearly high

The Shanghai Stock Exchange listing is identified as ticker 600674 in Reuters. The stock stood at CNY 16.62 on September 30, 2026, against a 52-week range of CNY 13.52 to CNY 16.88. Its market capitalization was CNY 81.0 billion on that date, leaving the quotation 1.54 percent below the yearly high.

The market value therefore remains close to the upper end of its recent range even as the latest interim report showed lower revenue, profit and electricity prices. For investors, the next operating comparison is whether new hydropower output can offset weaker pricing and rainfall conditions.

Fact box: Sichuan Chuantou