Concord New Energy Group reported profit attributable to equity shareholders of 100.6 million yuan for the six months ended Jun 30, down 64.3% year-on-year, as lower wind and solar resources, higher curtailment and softer electricity tariffs weighed on margins.

Revenue fell 10.2% YoY to 1.26 billion yuan. Basic and diluted earnings per share retreated to RMB1.29 cents from RMB3.58 cents a year earlier. The board confirmed a final dividend of HK$0.003 per share for FY 2025—already paid on Jul 27, 2026—well below the HK$0.035 distributed a year earlier; no interim dividend was declared.

By segment, power-generation operations contributed 1.21 billion yuan in external sales (-9.1% YoY) and delivered pre-tax earnings of 512.2 million yuan (-18.2% YoY). The “Others” segment, which houses design, consultancy and integrated energy solutions, posted 43.6 million yuan in external revenue (-32.8% YoY) and a pre-tax loss of 10.4 million yuan versus a 5.5 million yuan loss a year earlier.

Operationally, attributable wind and solar output declined 6.2% to 4.46 TWh as average utilisation hours fell 11% for both wind (to 1,015 hours) and solar PV (to 471 hours). Average comprehensive tariffs eased to 0.3462 yuan/kWh for wind and 0.4205 yuan/kWh for solar PV. Finance costs shrank 5.0% to 299.8 million yuan, reflecting an 8-basis-point drop in the comprehensive financing rate to 3.43%. Administrative expenses were trimmed 30% to 112.6 million yuan following organisational streamlining that reduced headcount by 36%.

Headwinds included increased curtailment, abnormal weather that dampened resource availability, a gradual roll-off of preferential tax incentives and lower renewable energy subsidies, all of which eroded gross profit to 583.7 million yuan (-12.7% YoY). Other gains swung to a 25.6 million yuan loss from a 24.1 million yuan gain, largely due to losses on subsidiary disposals and an associate sale.

Strategic initiatives during the period focused on: • Scaling clean-power solutions for artificial-intelligence data centres (AIDCs) across the United States, Southeast Asia and Eastern Europe. • Concluding the first 401 MW asset sale to the group’s renewable-energy private equity fund and divesting an additional 70 MW solar project, marking a shift toward an “asset-light” management model. • Advancing 1.68 GW of projects under construction, including 660 MW overseas, with new solar assets in Singapore and New Zealand already online. • Expanding green-electricity and certificate trading, completing 660 million kWh of green power transactions, up 27% YoY.

Looking ahead, management signalled plans to: 1. Accelerate global project development tied to long-term power-purchase agreements, especially for AIDCs. 2. Grow assets under management via renewable-energy funds and deepen partnerships with long-term institutional investors. 3. Enhance power-marketing capabilities with AI-driven trading systems to secure premiums in China’s evolving electricity market. 4. Maintain disciplined capital allocation, broaden funding channels and further lower borrowing costs through refinancing and green-finance instruments.