Xinte Energy (1799) investor relations material

Executive summary

• Revenue for the first half of 2025 was RMB7,310.83 million, down 37.74% year-over-year, mainly due to a sharp decline in polysilicon sales and prices.

• Net loss attributable to shareholders was RMB256.29 million, a significant reduction from RMB887.02 million loss in the same period last year, driven by improved performance in wind and PV power segments and investment income from thermal power plants.

• The company continued to invest in R&D, digital transformation, and safety, with 40 new patents granted and no major safety or environmental incidents.

• No interim dividend was declared for the period.

Financial highlights

• Gross profit was RMB668.52 million, down 48.30% year-over-year; gross margin fell to 9.14% from 11.01%.

• Operating costs decreased 36.44% to RMB6,642.31 million, reflecting lower polysilicon sales and enhanced cost control.

• Net cash outflow from operating activities was RMB856.53 million, compared to an inflow of RMB775.16 million last year, due to polysilicon prices remaining below production costs.

• Net cash inflow from financing activities surged to RMB6,145.51 million, mainly from capital injections and reduced debt repayment.

• Major capital expenditure was RMB3,277.48 million for fixed and intangible assets.

Outlook and guidance

• The company expects global electricity demand to grow at 3.9% annually through 2027, with renewables meeting 95% of new demand.

• Plans for the second half of 2025 include further cost control, digitalization, safety enhancements, and leveraging upstream-downstream synergies.

• Focus areas: quality improvement, efficiency, digital and intelligent plant construction, and talent development.