China Energy Engineering (3996) Q3 2026 earnings summary

Executive summary

• 9M 2026 operating revenue was RMB309.237bn, down 4.42% YoY; profit indicators declined, while the business mix continued shifting toward energy, power and water conservancy.

• Newly signed contracts reached RMB662.269bn; overseas operations and emerging technologies including storage, hydrogen and computing-power coordination advanced.

Financial highlights

• Q3 revenue was RMB100.925bn, down 9.45% YoY; total profit was RMB1.824bn, down 6.22%, and attributable net profit was RMB337.0m, down 4.88%.

• 9M total profit was RMB7.633bn, down 10.27% YoY; attributable net profit was RMB2.616bn, down 17.13%, and net profit excluding non-recurring items was RMB1.909bn, down 27.27%.

• 9M net profit was RMB5.083bn versus RMB6.089bn a year earlier; basic and diluted EPS were RMB0.06 versus RMB0.07.

• 9M operating cash flow was negative RMB20.343bn versus negative RMB9.110bn in 2025; investing cash flow was negative RMB29.642bn.

Outlook and guidance

• The 300 MW Jiuquan artificial-cavern compressed-air storage demonstration project was expected to connect to the grid and begin generation by end-2026; commissioning of the A4 Qingyang data centre was also expected by year-end.

• Structural adjustment and commercialization of storage, hydrogen and computing-power projects were identified as drivers of future growth; operations were characterized by lower total scale, structural optimization and greater resilience.