Beijing Jingneng Clean Energy (579) Q2 2026 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2026 was RMB10,172.4 million, down 6.67% year-over-year due to lower electricity sales and tariffs in wind and photovoltaic segments.

• Profit attributable to equity shareholders was RMB1,351.0 million, a 31.86% decrease year-over-year, reflecting declines in wind and solar segment profits and lower other income.

• Hydropower segment turned profitable due to increased water inflow, while gas-fired and heat energy segment showed resilience with a smaller profit decline.

• Free cash flow improved significantly, and financing costs declined to 2.22%, supporting shareholder returns.

Financial highlights

• Profit before taxation was RMB1,809.5 million, down 28.07% year-over-year.

• Basic and diluted EPS was RMB16.39 cents, compared to RMB24.05 cents in the prior year.

• Total assets as of 30 June 2026 were RMB104,065.9 million; total equity was RMB39,189.0 million.

• Net gearing ratio decreased slightly to 54.06%.

• Free cash flow reached RMB1.82 billion, up RMB2.07 billion year-over-year.

Outlook and guidance

• Focus on enhancing operational efficiency, cost control, and leveraging digital intelligence for growth.

• Plans to expand AI applications, promote unattended gas-fired power stations, and accelerate green power projects to Beijing.

• Continued optimization of energy structure with emphasis on non-fossil energy and computing-power synergy.

• Commitment to market value management and shareholder returns, including special dividends and Stock Connect eligibility.