Beijing Jingneng Clean Energy hits near 2-year low on weak earnings outlook
BUZZ-Beijing Jingneng Clean Energy hits near 2-year low on weak earnings outlook ** Shares of Beijing Jingneng Clean Energy 0579.HK drop as much as 11.9% in the second declining session to HK$1.7, their lowest level since September 2024
** Stock last down 9.1% and is on track for the biggest one-day pct fall since April 2025
** China-based clean energy power generation group expects its H1 2026 profit attributable to decline 25%-35% y/y to 1.29 bln yuan –1.49 bln yuan ($191.02 mln-$220.63 mln)
** Company says it is in normal business operations and the decrease in profits is due to reduced wind and solar resources, fluctuations in market-based electricity prices, and increased maintenance downtime for gas-fired power generation units
** YTD, stock down 21%, while benchmark Hang Seng Index .HSI up 1%
($1 = 6.7533 Chinese yuan renminbi)
(Reporting by Donny Kwok)
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