Good afternoon, ladies and gentlemen. On behalf of Huaneng Power International, I would like to welcome you all to the conference call regarding the interim results announcement of 2026. [Non-English content ] Now, may I introduce the management of the company today. [Non-English content ] Executive director and the President of the company, Mr. Liu Ancang . [Foreign language]
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[Non-English content] The independent director of the company, Mr. Xianchong Zhang [Non-English content]
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[Non-English content] The chief accountant and the board secretary of the company, Mr. Wen Minggang [Non-English content]
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[Non-English content ] People in charge of the related departments are also joining us in this meeting. [Non-English content ] First of all, Executive Director and the President of the company, Mr. Liu will review the business performances for the interim results of 2026, followed by the Q&A session. [Non-English content ] May we have the honor to invite Mr. Liu to review the business performances, and Mr. Li Guoyun to conduct the English interpretation.
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Ladies and gentlemen, good afternoon. Welcome to the 26th Interim Results Conference of Huaneng Power International. We've already announced the operating results for the first half of 2026 yesterday. Now I'd like to give a brief introduction.
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Under solid leadership of the board, the company struck a balance between tangible development outcomes as well as security and production. Our business, both at home and abroad, maintained stable while witnessing steady progress in scientific innovations. We also accelerated our pace towards business transformation, which has paved the way for fulfilling our annual development goals.
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Calculating under China's accounting principle. In the first half of this year, the company has realized a consolidated operating revenue of RMB 106.91 billion, decreased by 4.58% year-on-year. The net profit attributable to the company's shareholders scaled RMB 6.59 billion, decreasing by 28.89% yearly, and the EPS is now at RMB 0.35.
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In terms of power production, we actively promoted the low carbon green energy transformation. The overall installed capacity of the company's photovoltaic and wind farm has seen a consistent growth, while the on-grid power sold has seen a year-on-year decrease as the capacity of renewables is growing rapidly nationwide and taking the share of coal-fired units in the energy mix.
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In H1, the company's domestic on-grid power sales decreased by 2.97% at 199.780,000,000 kWh, and the average tariff was RMB 463.02 per megawatt hour, decreasing by 4.59%.
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In terms of coal supply, we swiftly adjusted our coal purchase plan based on the solid research of coal market dynamics and the estimation of electricity consumption. The company has made multiple efforts in controlling the fuel cost, including strengthening [honoration] of high quality long-term contracts and updating our strategies in making spot market deals. Besides, we also replaced the proportion of coal from price surge to overseas market and optimize our dynamic control and coal inventory.
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The standard coal price of H1 decreasing by 2.84% year-on-year at RMB 891.02 per ton.
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The company always hold a strategy of low carbon transformation. In the first half of this year, we've taken every effort propelling the construction of infrastructure.
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We've added 2.55 GW of renewable capacity out of 3.04 GW in total this year by the end of June. All those newly installed capacity are with competitiveness, both in their quality and market bidding capabilities. Plus 490 MW newly installed gas-fired units, the total installed capacity under control now scales 159 GW. Low carbon clean energy takes more than 42% in the chart.
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In terms of business overseas, we swiftly optimize our market bidding strategy based on the solid research of both Singaporean electricity market and fuel market, pursuing the best performance under current conditions.
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In the first half of this year, Tuas Power has realized an earning before interest and taxes of RMB 745 million. Sahiwal Plant in Pakistan keeps a stable operation as well, earning RMB 451 million.
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During the rest of this year, putting efficiency and quality first, we will push forward our costs in optimizing both power generation and asset portfolio, cementing the very foundation of energy security. In terms of the power generation, the company will level up our analyzation and demand supply relation. We refined market strategy or shift our power generation curve for better efficiency at peak hours.
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In terms of coal consumption, we will tightly focus on the dynamics of coal market, safeguarding a stable supply while controlling the cost via multiple channels, improving the fulfillment of mid and long term contracts, optimizing schedule and heat value while purchasing on domestic and international spot markets, and via better inventory management as well.
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Standing on the starting points of the 15th Five-Year Plan amid a complex market horizon and new requirements, Huaneng Power International will reinforce strategic leadership to ensure better developing quality and efficiency. We will secure the achievement of the full year target while stepping up development of new programs, delivering an excellent prologue of the next Five-Year Plan.
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My colleagues and I are willing to take your questions.
[Non-English content ] Thank you, Mr. Liu. Here we come to the Q&A session. To register your question, please press star followed by one on your telephone keypad. Thank you. Please state your name and your organization before question raised. The first question comes from Jiang Tao Guojin Securities .
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My first question goes to Tuas Power in Singapore. I wonder what is the tariff mechanism in Singapore? Also, in the second quarter of the year, what is the year-on-year change of the tariff and the power generation output of Tuas Power? Going to the third quarter, how does the company optimize the performance based on this revenue in second quarter?
My second question goes to, as I raised the question in the conference call of the first quarter performance conference, we wonder that based on the market-based transactions of thermal power generators, what is the profitability change quarter on quarter in the second quarter? My third question goes to the PV sectors of the cooperation. How does the company view the profitability of the PV sector as in the second quarter, we have seen a quarter-on-quarter increase. What is the expectation going forward? Thank you.
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In the first half of this year, Tuas Power has accomplished the 5.320,000,000 kWh entire power generation output, which has saw a 49,000,000 kWh increase. We have an earning before interest and taxes increase of RMB 618 million.
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The first reason that triggered this year-on-year decrease is about the exchange rate. We have saw a 6.3% of year-on-year decrease in exchange rates from the Singaporean to RMB, which has affected our profit about RMB 90 million.
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The second I want to argue is about the carbon dioxide tax in the Singaporean market. The Singaporean administration has raised the tax rate from SGD 25- SGD 45, which has triggered about RMB 24 million increase in terms of the expenditures on the carbon dioxide tax.
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The third reason is the margin has shown a year-on-year decrease as well, which is about RMB 22 per megawatt hour.
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As you mentioned about the price mechanism in Singaporean electricity market. Tuas Power has a contract that 20% of the electricity contract was signed with the government and authorities, which has a comparatively stable profitability. Another proportion, about 70%, which is a retail contract with a longer term, that has a margin that connected with the long-term contracts of gas and financial tools as well. That is also comparatively stable compared with the spot market. We also have 10% of the entire power generation output on the market, which was settled on the spot market, that is fully public, which is with many competitions on the spot market.
The price was tightly connected with the gas price. On the other hand, the gas price of Singaporean electricity market is connected with the GPM index in the international oil index. In the first half of 2026, the spot market price has raised from SGD 181 per megawatt hour- SGD 2,240 per megawatt hour. Although the spot market price of electricity has shown a year-on-year increase, the gas price increased simultaneously. The margin of Singaporean electricity market, especially the Tuas Power, has been decreased year-on-year.
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As I mentioned that the majority of our contracts of electricity was settled by the retail contracts and the price was locked. In the year of 2025, the contract fulfilled was largely signed between the year of 2023 and 2024. At that time, the price of electricity on the spot market was comparatively high. Last year, that triggers the better profitability and the better tariff in Singaporean Tuas Power last year. This year, as the contracts with higher profit margin has been expired and the newly signed contract on the spot market is based on the downward trend of the spot market tariff. That also triggers the decrease of our marginal, and that also triggered the year-on-year decrease in the first quarter of the year for the Tuas Power in Singapore.
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Since the beginning of this year, as the tariff on the spot market of Singapore has rised, we also urge the Tuas Power in Singapore to reconsider the contracts with higher margin and to implement a new strategies on the spot market to lock even more contracts with higher profitability, cement the foundation for a better profitability in the second half of this year and going forward. Thank you.
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In the first half of this year, the coal-fired units of the power has generated the electricity about 152,900,000,000 k Wh, and the medium and long-term contracts has signed about 158,000,000,000 kWh and takes about 84%.
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Bidding in the spot market for the coal-fired units can improve its profitability. In the first half of this year, the coal-fired unit of the company has realized a tariff about RMB 387 per megawatt hour on the market, and that is about RMB 24 per megawatt hour increase compared with the medium long term contract with signed price.
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I'd like to answer the quarter-on-quarter increase in terms of the profitability of the PV sectors of the company. In the second quarter, the PV sectors of the company has realized the earning of RMB 989 million, which is an increase about RMB 756 million, which is a large increase. That is because of the power generation. The power output of the PV sector of the company has shown a quarter-on-quarter increase in the second quarter. That is because that during these recent years, under the guidelines of low carbon emission strategy initiatives of the country, we have a larger installed capacity of PV sectors. The second reason is about the seasonal reason, because of the utilization hour in the second quarter is comparatively high.
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The second reason is about the increase of the on grid power cells. The PV sectors have scaled about 7,650,000,000 kWh on grid power cells, which has a 40% increase equivalent to 2,190,000,000 kWh increase.
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[Foreign language] The next question comes from Liu Xianda of Citibank.
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I have three questions. My first question goes to the on-grid power sales of the thermal power plants. We have saw a 4.6% decrease in the on-grid power tariff of the thermal power generation, which is at about RMB 463 per megawatt hour. I want to know the tariff broken down by different energy types, including the thermal power generators, wind power, and PV sectors. What about its year-on-year change? What about the expectation of the company towards the tariff in the second half of this year? The second question goes to the unit fuel cost of the company. We have saw a unit fuel cost rebounded compared with the first quarter of the year in the second quarter of the year. I believe that is mainly because of the geopolitical contradictions in the Middle East areas.
What does the company's expectation towards the unit fuel cost and its trends in the coming next half of this year? My third question is: the company has set a goal for newly installed capacity in the year of 2026 at 7.7 GW in total. We have accomplished already in the first half of this year at 3 GW. What does the company view in the coming next half of this year? Does the company will change the four-year goal of the newly installed capacity? Thank you.
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I'd like to answer a question about the on-grid power tariff. In the first half of the year of 2026, we have realized the coal- fired unit on-grid power tariff of RMB 445.26 per megawatt hour, which has shown a year-on-year decrease of RMB 26.21 per megawatt hour, equivalent to 5.56%. In terms of the gas- fired unit, the tariff was RMB 792.57 per megawatt hour, increasing by RMB 49.86 per megawatt hour, equivalent to 6.71% increase. In terms of wind turbine, we have an average tariff of RMB 462.67 per megawatt hour, which has decreased by RMB 16.69 per megawatt hour, equivalent to 3.48% decrease.
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In terms of the PV farms, we have an average tariff of RMB 370.44 per megawatt hour, decreasing by RMB 20.83 per megawatt hour, equivalent to 5.32%. In terms of hydropower, the average tariff was RMB 361.4 per megawatt hour, increasing by RMB 2.77 per megawatt hour. The percentage is about 0.77%. The biomass sector of the company has scaled RMB 718.38 per megawatt hour and decreasing by RMB 6.63 per megawatt hour, equivalent to 0.91%.
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I'd like to answer a question about the coal market going forward to the second half of this year. We believe that the coal supply in the second half of this year will be tightened as well, and the supply will be slack as well. On the demand side, the domestic output was constrained as the country is delivering a security inspection. On the spot market, the price is comparatively higher recently. The suppliers of the long-term contract coals are not willing to fulfill their contract as well. In terms of the international market, as Indonesia has delivered its quota for the coal export and the Middle East contradictions between the Iran and U.S., it also increased the risk on the international spot market of coal.
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This year, on the supply side, the average temperature is comparatively high comparing with the same period of other years, and the tightened supply of logistic market as well as the security inspection in Shanxi province and other reasons, we believe that the inventory is lower than the average of previous years. Going to the second half of this year, we believe that if the inventory is better than our prediction, the coal price on the spot market will be better than our expectation. But if the inventory is comparatively tightened, we believe that will support the comparatively higher price of the coal on the spot market.
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We haven't adjusted our installment plan on the renewables for the full year. By the end of June, we have more than 10 GW of entire installed capacity under construction, and that is able to support us to fulfill the full year goal.
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[Non-English content] ] The next question comes from [inaudible] of Industrial Securities.
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My first question goes to Tuas Power in Singapore to the company. As we mentioned that the profitability of Tuas Power has been decreased because of the contracts with higher profit margin have been expired. I wanted to know that how many contracts are still in fulfillment with higher profit margin? My second question goes to the tax rate in the second quarter of the year. We wondered the reason that why the company's tax rate has quarter-on-quarter increase? What about the expectation towards the tax rate of the company? What about the company's plan to return the perpetual bonds? My third question goes to the standard coal price of the company. I wondered that the standard coal price of the company in the second quarter and in the first quarter respectively, and what is the quarter-on-quarter change? Thank you.
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In terms of Tuas Power, the profit margin has been decreased mainly because that the contracts with higher profitability and profit margin have been expired. We have a 70% of the contract in Singaporean market was signed for the retail customers, and that is including the customers in industries and in business circle. Those contracts are signing based on a rollover signing basis. In the first half of this year, for Tuas Power, the average profit margin has shown a year-on-year decrease at RMB 22 for [Singapore current].
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Since the beginning of this year, in the first half, the gas price worldwide has saw a year-on-year increase and the supply was tightened. That also supports the higher price in the spot market of electricity in Singaporean market, which is conducive for us to sign a new contract and the fulfillments of new contracts that increase and expand our profit margin.
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I'd like to answer a question towards the tax rates of the company. In the first half of the year of 2026, the average tax rate of the company is 18.6%. In the first half of 2026, that number was 16.63%, and that is within the regular range of the tax rate of the company. That is mainly because of the following two reasons. The first is that we have a different policy in terms of different plants, in terms of this tax relational preferential policies. The second is because the DTA and DTL of the company.
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In terms of the standard coal price of the company in the first half of 2026, the average of the company scale at about RMB 891.02 per ton, which has seen a year-on-year decrease of RMB 26.03 per ton, equivalent to 2.84%. In terms of the coal-fired units specifically, the coal-fired units has a standard coal price of RMB 832.67 per ton, decreasing by RMB 16.33 per ton, which equivalent to 1.92%. The gas-fired units has a standard coal price of RMB 2,057.19 per ton, decreasing by RMB 96.96 per ton, equivalent to 4.5% decrease. In terms of the biomass sectors of the company, has a standard coal price of RMB 839.58 per ton, decreasing by RMB 53.44 per ton, which equivalent to 5.98% decrease. Thank you.
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In terms of the perpetual bonds payout plan, by the end of the first half of 2026, we have a RMB 73.47 billion of perpetual bonds of the company, which has saw a decrease of RMB 4 billion. That is because we have rescheduled our insurance plan. We anticipated that by the end of the year of 2026, the scale of our perpetual bonds will keep comparatively stable.
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I'd like to ask about the unit fuel cost. Do we have a quarterly anticipation calculation of unit fuel cost?
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In the second quarter alone, we have an average unit fuel cost of RMB 281.03 per megawatt hour, which has saw a quarter-on-quarter increase of RMB 35.7 per megawatt hour, equivalent to 14.56%. In terms of coal-fired units alone, it has an average unit fuel cost of RMB 269.92 per megawatt hour, which has a quarterly increase of RMB 36.03 per megawatt hour, increasing by 15.4%. In terms of gas-fired units, we have a unit fuel cost of RMB 443.82 per megawatt hour, a quarterly increase of RMB 68.41 per megawatt hour, equivalent to 18.22%. In terms of the biomass sector, we scaled a unit fuel cost on average of RMB 372.32 per megawatt hour, a quarterly increase of RMB 89.60 per megawatt hour, equivalent to 31.69% increase. Thank you.
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[Non-English content] The next question comes from Song, Yingying of China Merchants Securities.
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Well, I do have three questions. My first question goes to the electricity long term contract to sign. How many electricity long term contract to sign of the coal-fired units of the company, and how many long term contract were signed yearly? As you mentioned that we have an 84% of the mid and long term coverage ratio, and how many are signed yearly? What about the yearly contract covered ratio by province, especially in Zhejiang province and Jiangsu province? My second question also goes to Tuas Power and about the tariff mechanism of Tuas Power in Singapore.
What is the assigning cycle for the long term contract to the final users or end users in Singapore electricity market? Does the contract signed between the company and the end users was fixed by its profit margin or fixed tariff? My third question goes to the net profit broken down by different energy types in the second quarter of the year. Thank you.
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In terms of Tuas Power's electricity selling contract, as the contracts were signed with those end users, we do not have a fixed cycle of signing those contracts. But the signing price of the long term contract has a mechanism that the price is tightly connected with the electricity average price on the spot market. We also use the gas long term contract and financial tools to lock our profit margins as well. In the year that the price on the Singapore electricity spot market is comparatively low, the gas long term contract is not that effective. Only in the year that the spot market tariff is comparatively higher, just like the year of 2022 and the year of 2023, that will ensure a comparatively higher profitability of the company. Thank you.
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In terms of the mid and long term contract of electricity, for the coal-fired units, we have signed a mid and long term contract about 128,000,000,000 kWh , and the yearly contract take about 58%.
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In Zhejiang province, the yearly signed contracts is comparatively higher, which is around 75%.
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In Jiangsu province, the proportion is around 60%.
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In terms of the net profit broken down by different energy types, in the first half of the year 2026, the coal-fired units of the company has realized a net profit of RMB 4.87 billion, which has saw a RMB 1.18 billion decrease, which is equivalent to 18.36%. The gas-fired unit has a net profit of RMB 707 million, which has increased about RMB 180 million, equivalent to a 34.22% increase. In terms of the wind power generator sector, we have a net profit of RMB 2.73 billion, which has decreased by RMB 704 million, equivalent to a 20.5% decrease.
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In terms of the PV sector, we have a net profit of about RMB 1.06 billion, which has decreased by RMB 594 million, equivalent to a 35.84% decrease. The hydropower has a RMB 44 million margin, which is increasing about RMB 31 million, and the biomass is breakeven.
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The yearly contract of the medium long term contracts takes 58% of the entire medium long term contracts. Thank you.
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[Non-English content ] The next question comes from [inaudible] of Orient Securities.
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I have three questions. My first question goes to the capacity-based subsidy in the second quarter of the coal-fired unit. My second question goes to in the second quarter and in the first half of the year respectively, how many plants of thermal power generators and PV sectors and wind sectors have made a loss? My third question is about the net profit attributable to the company's shareholders broken down by different energy types. Thank you.
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In the first half of this year, the capacity-based subsidy policy has been changed in many provinces, based on the regulation of Document No. 136, the capacity-based subsidy was improved to no less than 50%. In the first half of this year, we have a capacity-based subsidy received in total around RMB 7.4 billion yuan, equivalent to RMB 48 per megawatt hour, which is a year-on-year increase of RMB 70 per megawatt hour.
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By the end of the first half of the year, 12 plants of coal-fired power generators have made a loss equivalent to 60% of all the power generation plants of the company. The gas-fired units, four plants have made a loss, which takes about 25%. The wind power generation units, 11 farms made a loss, which equivalent to 8.8%. The PV sector, 44 farms have made a loss equivalent to 11%.
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In terms of the net profit attributable to the company's shareholders, in the second quarter alone, the coal-fired units of the company has made a net profit attributable to the company's shareholders, which is about RMB 6.59 billion . Which has saw a quarter-on-quarter decrease of RMB 24.63 billion , equivalent to 67% decrease.
The gas-fired units has made a loss of RMB 32 million , which has a quarter-on-quarter decrease of RMB 771 million . The wind power generators has made a contribution of RMB 177 million , which has saw a quarter-on-quarter decrease of RMB 177 million , which equivalent to 24%. The PV sector has made a contribution of RMB 871 million , a quarter-on-quarter increase of RMB 677 million, equivalent to 35 times the net profit in the first quarter of the year. The hydropower has made a contribution of RMB 43 million , equivalent to a RMB 43 million increase as well.
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I also want to ask that we have 12 plants of coal-fired units that have made a loss. I wonder about the geographic distribution and the reason that the company has made a loss. Thank you.
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The plants that made a loss in the first half of 2026 for the coal-fired units, the plants in [Liaoning] and in northern west China as well as in [Hebei] Province have made a loss. For gas-fired units, [Hainan] has made a loss.
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That is triggered because the tariff has seen a decrease as well as the increase of unit fuel cost. Thank you.
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[Non-English content ] The next question comes from [inaudible] of CICC.
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I have three questions. My first question goes to the coal purchase mechanism of the company in the second quarter alone, and how many coal are purchased via the long term contract and those from the spot market as well as the markets from overseas? What about their price respectively? My second question goes to the depreciation this year of the coal-fired units, and will that save some costs or expenditures by the end of this year? My third question goes to the second quarter alone, and how many ancillary services revenue has received by the company? Thank you.
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In the second quarter alone, the long term contract has covered the entire consumption of 44.5%, and the standard coal price of long term coal is around RMB 907.56 per ton. Those from the spot market takes the share of 30.72%, the standard coal price of spot market coal scales RMB 958.66 per ton. Those from overseas market takes 24.78% of the share and the standard coal price of those from overseas scales RMB 998.01 per ton.
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The coal-fired unit depreciation has delivered a contribution in the company's revenue as some of the coal-fired units has finished its depreciation cycle. By the end of the first half of 2026, the coal-fired unit depreciation has saved the company's expenditure around RMB 393 million year- over- year. Thank you.
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In the first half of this year, we have seen a year over year decrease in the revenue from the ancillary services. In the first half of this year, we've received the revenue from the ancillary services, which is around RMB 530 million .
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Since the beginning of this year, the country has introduced the relevant regulations that have implemented or introduced the spot market mechanism in more and more areas and provinces. That triggers that the peak load management no longer exists. Thank you.
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[Non-English content ] The next question comes from Gary Zhang of Merrill Lynch.
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I have three questions. My first question goes to the tariff of the coal-fired unit of the company. Does the company have a breakdown by different contract types, including the long-term and mid and long-term contract of electricity price and those from spot market, especially those from the yearly contract and monthly contracts and the year-on-year change as well?
The second question goes to that the Chief Executive Officer of the company has mentioned that we would like to generate even more power at peak hours to improve the company's profitability. What is the company's specific strategy towards that? What is the company's expectation towards the electricity storage plant as the country and relevant documents are encouraging that? The third question goes to the dividends dispatching plan of the company. We have saw by the end of the first half of this year, we have saw a downward pressure of the company's revenue. What about the company's anticipation towards its dividends dispatching ratio and EPS in the year of 2026? Thank you.
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We have offered you the mid and long term contract defining price of the first half of this year and the quarterly data we will give you after this conference. Thank you.
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According to Document No. 136, the electricity storage is not the prerequisite of the construction of the renewable projects.
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According to that policy change, it also triggers that in our country, the strategy for constructing electricity storage is transitioning to a more market-based mentality.
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The efficiency of electricity storage plants has become the very important factor when we are delivering that.
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By the end of June, we already have about 802 MW equivalent to 1,661 MWh of electricity storage plants has already into business operation.
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Those electricity storage under construction are scaled at 653 MW, equivalent to 1,390 MWh .
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Going forward, we will be delivering this electricity storage construction plan based on different local conditions, including those conditions in the electricity market as well as the demand side of electricity.
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We believe that this mentality is responsible for the quality of both the storage capacity itself and our shareholders. Thank you.
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We always highlight the dividend dispatching plan and we are also delivering those dividend dispatching plan based on the article of associate of the company. We want to strike a balance between the company's financial need as well as the development plan. The dividend dispatching ratio is no less than 50% according to the articles of associate.
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In 2026, we have dispatched the dividends at RMB 0.4 per share, which is increasing about 50% compared with the RMB 0.27 per share in 2024. The company is always devoted to optimizing our policies and plan for dividend dispatching, and we want to share even more with our shareholders as well. Thank you.
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[Non-English content ] Due to time constraint, we invite the last investor to ask. The last question comes from Wang Weijia Huatai Securities. Please go ahead.
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I have three questions. The management has introduced the coal-fired unit electricity contracts of coal-fired units of the company by the end of the first half of this year. I wonder what is the proportion of the yearly contract to monthly contract and spot market contract, and its price respectively? You mentioned that the Zhejiang and Jiangsu Province exposed a larger proportion of the contract signing ratio in the mid and long-term contracts. We wonder how the company is calculating that number and what is the denominator in the fraction?
My second question is, I want to know that in 2026, what is the standard coal price of the coal-fired units in June and in July, respectively? Thirdly, I want to know something about the company's 15th Five-Year Plan. If there is some information that is ready for disclosure around the company's 15th Five-Year development plan. Thank you.
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The denominator of the fraction is the mid and long term contracts, and we calculated that share of the mid and long term contract.
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About those signing price respectively, those contracts signed yearly are around RMB 360 per megawatt hour.
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The signing price of monthly contracts is a little higher compared with those signed annually, which is around RMB 366 per megawatt hour.
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In terms of the medium long term contract price of electricity, in Jiangsu Province, the price is around RMB 335 per megawatt hour. In Zhejiang province, RMB 345.
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In that two provinces, the coal-fired units of the company can expand its revenue on the spot market and Jiangsu is better.
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In terms of the question about the standard coal price broken by month, we do not have the specific data monthly, but I want to show you the standard coal price in the second quarter of the year. The standard coal price of the company has scaled RMB 907.20 per ton in the second quarter, which is a quarterly increase by RMB 33 per ton, equivalent to 3.77%. The coal-fired unit respectively has a standard coal price of RMB 855.79 per ton, a quarterly increase of RMB 47.26 per ton, increasing by 5.85%. The gas-fired unit scales to RMB 2,013.33 per ton, a quarterly decrease of RMB 83.45 per ton, equivalent to 4% decrease. Thank you.
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About the company's 15th Five-Year Plan, we will also highlight the quality and efficiency of development, just like what we did during the 14th Five-Year Plan period. Thank you.
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We will deepen our green energy transformation based on the support towards the country's strategy, including the energy superpower and as well as the energy security.
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The first is about the coal-fired unit. We are expanding our input capacity while striking a balance between the green energy transformation as well as the power output.
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Expanding the input capacity of coal-fired unit equivalent to delivering a larger and more efficient plant and replace those outdated plants.
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In terms of controlling the power generation output, we need to accept the downward trend of the average unit fuel cost of a few coal-fired units and transitioning those coal-fired units into ancillary services-oriented generators.
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Implementing the energy transformation of the coal-fired units equivalents, we need to promote the new technologies in our coal-fired units as well as embrace the industrial revolution.
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In terms of the renewables, we want to improve the development quality of renewables by the means of developing those outstanding plants including those offshore wind turbine in deep and far sea.
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Third is we want to embrace the strategic new industries and based on this IRR threshold of the company, including the new strategic programs, including the storage of electricity as well as the clean thermal supply plants.
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I also want to argue that we are still drafting our specific 15th Five-Year Plan based on the country's regulations and those documents from administrations as well as the 15th Five-Year Plan of the entire China Huaneng Group. When the 15th Five-Year Plan of the companies are ready, we will deliver that to the market in our disclosures. Thank you.
[Non-English content ] Thank you so much for all the questions and participation today. [Non- English content ] Finally, Mr. Liu would like to give us a summary.
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Thanks for joining us today in this conference call. We always appreciate your long-term support to Huaneng Power International.
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Now, this marks the end of today's conference. For any further inquiry, please feel free to contact with our IR team. See you this fall.
[Non-English content ] Thanks again for your attendance of the conference call regarding the interim results announcement of 2026. We are looking forward to meeting with all of you in our next result announcement. Thank you.