China's CGN New Energy H1 profit halves on weak wind projects

CGN New Energy Holdings

26/08/2026 11:13

Overview
China renewable energy producer's H1 revenue fell 9.8% yr/yr
Profit attributable to shareholders dropped 49.8% yr/yr
Profit decline driven by lower wind project output and fewer asset gains

Outlook
Company did not provide specific financial guidance or outlook for future periods

Result Drivers
WIND PROJECT PERFORMANCE - Co said profit decline was mainly due to lower tariffs and power generation from PRC wind projects
FEWER ASSET GAINS - Co cited a decrease in gains on disposal of a PRC cogen project compared to the prior year

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
$772.80 mln
 
H1 Net Income Attributable
 
$82.10 mln
 

Analyst Coverage
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 6 three months ago

Reuters Recommended Reads
Aug 25 - CGN Power H1 revenue falls on lower on-grid power generation
Aug 26 - Hong Kong's China Resources Power H1 profit falls on lower power tariffs
Aug 25 - Beijing Energy International interim revenue falls on lower electricity prices

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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.)