China's Jingneng Clean Energy H1 revenue, profit drop on lower volumes and prices

Beijing Jingneng Clean Energy

28/08/2026 15:30

Overview
China clean energy producer's H1 revenue fell 6.7% yr/yr
Profit attributable to shareholders dropped 31.9% from prior year period

Outlook
Company did not provide specific financial guidance or outlook for future periods in the press release

Result Drivers
RENEWABLE VOLUME AND PRICE – Lower wind and solar electricity sales volumes and average on-grid tariffs drove revenue down 6.7%
VAT REFUND WITHDRAWAL – Revocation of the 50% immediate VAT refund for onshore wind projects cut other income 51.3% to RMB72.6 mln

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 10.17 bln
 
H1 Net Income Attributable
 
RMB 1.35 bln
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the independent power producers peer group is "buy."
Wall Street's median 12-month price target for Beijing Jingneng Clean Energy Co Ltd is HK$2.94, about 75.2% above its August 28 closing price of HK$1.68
The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 5 three months ago

Reuters Recommended Reads
Aug 27 - Concord New Energy H1 revenue falls 10.2% on lower electricity tariffs
Aug 26 - China's CGN New Energy H1 profit halves on weak wind projects
Aug 27 - Huadian Power's H1 profit falls on lower electricity generation

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)