GEPIC Energy Development (SHE:000791) expects a net profit attributable to shareholders of between 1.60 billion yuan and 1.66 billion yuan for 2024, jumping up to 42% from 1.17 billion yuan a year earlier.

Earnings per share are estimated to be between 0.52 yuan and 0.54 yuan, compared to 0.38 yuan in the preceding year, according to a Wednesday disclosure on the Shenzhen Stock Exchange.

The power company attributed the increase to its acquisition of Changle, which was officially included in the group's consolidated financial statements in 2024.

GEPIC's shares jumped 4% in recent trade.