China Resources Power Holdings (China Res Power) has released an update on the planned A-share spin-off and listing of its renewable subsidiary, China Resources New Energy Holdings Company Limited (SpinCo), disclosing unaudited first-quarter 2026 results filed with the Shenzhen Stock Exchange.

For the three months ended 31 March 2026, SpinCo posted revenue of RMB 6.21 billion, down 2.8% from RMB 6.39 billion a year earlier. Net profit attributable to owners fell 31.1% to RMB 1.62 billion, compared with RMB 2.35 billion in the prior-year period. After excluding non-recurring items, attributable profit declined 31.0% to RMB 1.61 billion.

Balance-sheet metrics improved modestly during the quarter. Total assets rose 2.47% to RMB 241.07 billion as of 31 March 2026, while total liabilities increased 2.83% to RMB 145.10 billion. Equity attributable to owners grew 1.84% to RMB 92.63 billion.

The disclosed figures are unaudited, prepared under PRC accounting standards and do not represent the consolidated results of China Res Power. Completion of the spin-off and the Shenzhen Stock Exchange listing remains subject to registration approval from the China Securities Regulatory Commission and prevailing market conditions. Investors are advised to exercise caution when dealing in China Res Power’s securities.