China Renewable Energy H1 revenue falls 25% on weak wind, curtailment

China Renewable Energy Investment

31/08/2026 09:49

Overview
Hong Kong renewable energy operator's H1 revenue fell 25% yr/yr amid poor wind and curtailment
Company posted net loss attributable to equity holders, reversing profit from prior year
Lower wind speeds, higher curtailment, and reduced subsidies drove declines in results

Outlook
Company says government plans to expand transmission corridors could reduce curtailment long term
CRE says it will not expand unless it sees lower curtailment and stable market prices
Company is focusing on repowering existing assets rather than new capacity additions

Result Drivers
POOR WIND & CURTAILMENT - Co said lower wind speeds and higher curtailment rates reduced power dispatch and revenue
SUBSIDY & TAX POLICY CHANGES - Co said elimination of tariff subsidies for Danjinghe and Changma wind farms and termination of value-added tax refund policy reduced income
LOW MARKET TARIFFS - Co said more power was sold at market rates, which remained low, further impacting revenue

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
HK$70.70 mln
 

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

Reuters Recommended Reads
Aug 28 - China's Jingneng Clean Energy H1 revenue, profit drop on lower volumes and prices
Aug 28 - China's Ganfeng Lithium H1 revenue surges on price recovery
Aug 28 - China's Jiaxing Gas Group H1 revenue rises on higher LNG prices

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Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-31/9b71c9e8-ef69-4411-a1f3-65db17cecead.file
(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.)