2025半年报点评：超市场预期，关注火电资本开支下行周期下资产质量改善

东吴证券2025-07-31

（以下内容从东吴证券《2025半年报点评：超市场预期，关注火电资本开支下行周期下资产质量改善》研报附件原文摘录）华能国际(600011)投资要点事件：公司发布2025年半年报，2025年上半年公司实现营业收入1120.32亿元，同比-5.7%；实现归母净利润92.62亿元，同比+24.3%，超市场预期。2025上半年受益于燃煤成本-9.2%燃煤板块利润总额+84%，超市场预期：2025年上半年，...

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