Yangtze Securities keeps Buy rating for China Yangtze Power stock

Published on 10/19/2026 at 09:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Output fell 14.89 percent in the third quarter. October 31 results test China Yangtze Power stock after 225.058 billion kWh.

Operating pressure meets a firm rating

Yangtze Securities maintained its Buy rating on October 16, 2026.
First-three-quarter generation fell 4.28 percent to 225.058 billion kWh in 2026.
China Yangtze Power is scheduled to report third-quarter results on October 31, 2026.

China Yangtze, CNE000001G87, Illustration mit AI erstellt.

China Yangtze Power stock is facing an operating test after third-quarter generation fell 14.89 percent year over year. On October 16, 2026, Yangtze Securities maintained a Buy rating while highlighting weaker water inflows and pressure on power production, as reported by Futu.

Generation turns lower in 2026

The companys six domestic cascade hydropower stations generated 225.058 billion kWh in the first three quarters of 2026, down 4.28 percent from the same period a year earlier. Third-quarter output alone reached 92.314 billion kWh, a decline of 14.89 percent, according to Futu.

The operating figures mark a clear reversal from the first half of 2026, when cumulative generation had still grown 4.81 percent year over year. The Wudongde Reservoir recorded inflows of 75.736 billion cubic meters in the first three quarters, 9.29 percent below the comparable level cited in the analyst commentary.

What does lower output mean?

The immediate issue is the link between water availability and electricity sales. Yangtze Securities said weaker downstream inflows could pressure third-quarter financial performance, although lower financial expenses and investment income may limit the impact. The same analysis identified electricity price volatility and insufficient water inflows as key risks.

Three operating dates shape the story

On September 10, 2026, annual impoundment began at the Three Gorges Reservoir, supporting future generation. On October 12, 2026, China Yangtze Power reported 225.058 billion kWh of generation for the first three quarters. On October 16, 2026, Yangtze Securities kept its Buy rating while projecting 2026 earnings per share of CNY 1.40, as reported by Futu.

October 31 brings the next test

China Yangtze Power is scheduled to publish third-quarter results for the period ended September 30, 2026, on October 31, 2026. Estimates compiled by finanzen.at put quarterly revenue at CNY 25.53 billion, down 12.10 percent from CNY 29.04 billion a year earlier. Two analysts expect earnings per share of CNY 0.562, compared with CNY 0.620 in the prior-year quarter.

Market value stays substantial

China Yangtze Power had a market capitalization of CNY 722.8 billion as of October 19, 2026. Its 52-week range was CNY 25.38 to CNY 29.80, placing the scheduled results against a share price close to the top of that interval. The company operates major hydropower assets including Three Gorges, Gezhouba, Xiluodu, Xiangjiaba, Wudongde and Baihetan.