Concord New Energy Group (182) H1 2026 earnings summary

Executive summary

• Revenue for 1H2026 was RMB 1,257.8 million, down 10.2% year-over-year, with net profit attributable to owners at RMB 100.6 million, a 64.3% decline.

• Attributable installed capacity decreased to 4,586MW, reflecting asset optimization and disposals.

• Strategic transformation advanced with expansion into AI data centers, professional services, and global project deployment.

• Basic and diluted EPS were RMB 1.29 cents, compared to RMB 3.58 cents in 1H2025.

• The Group faced headwinds from lower tariffs, higher curtailment, and the phase-out of tax incentives.

Financial highlights

• Gross profit for 1H2026 was RMB 583.7 million, down from RMB 669.0 million in 1H2025.

• Administrative expenses dropped 30% year-over-year to RMB 112.6 million.

• Operating cash flow improved to RMB 1,306 million in 1H2026.

• Finance costs decreased to RMB 299.8 million from RMB 315.5 million.

• Final dividend declared for 2025 was HK$0.003 per share (RMB 20.5 million), significantly lower than the prior year.

Outlook and guidance

• Focus on capturing AI-driven growth, advancing globalization, and scaling professional services.

• Continued asset optimization, cost control, and leveraging AI for operational efficiency.

• Emphasis on broadening financing sources and lowering funding costs.

• Industry headwinds in China are expected to stabilize, with supportive government policies underpinning long-term growth.