Wintime Energy Group (600157) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was RMB 5.52 billion, down 2.10% year-over-year; net profit attributable to shareholders rose 21.09% to RMB 61.84 million.

• Operating cash flow increased 9.16% year-over-year to RMB 1.13 billion.

• Coal segment saw higher sales volume and prices, driving a 57.89% increase in adjusted net profit.

• Power segment faced pressure from market reforms and renewable growth but maintained stable output.

Financial highlights

• Total assets at quarter-end were RMB 110.73 billion; shareholders’ equity was RMB 46.92 billion.

• Gross margin remained stable; basic and diluted EPS both at RMB 0.0028, up 21.74% year-over-year.

• Profit before tax fell 27.50% year-over-year to RMB 196.10 million.

• Adjusted net profit (excluding non-recurring items) rose 57.89% to RMB 66.91 million.

Outlook and guidance

• Coal and power businesses expected to remain core drivers; new coal mine project (Haizetan) on track for trial production in July and full production in 2027.