GD Power Development reported its 2021 revenue of 168 billion yuan (US$25.6 billion), up 16.6 percent. Net loss attributable to the parent company was 2 billion yuan, down 146 percent. It was GD Power’s first loss since listing in 1997.
The core listed companies of China’s five major power generation groups all made big losses - 27 billion yuan in total - in 2021. Huaneng Power lost 10.3 billion yuan. Datang lost 9.3 billion yuan.
According to the China Electricity Council, the cost of coal increased by about 600 billion yuan last year.
The rise in coal prices has led to soaring generation costs, causing huge losses for generators.
