Concord New Energy H1 revenue falls 10.2% on lower electricity tariffs

Concord New Energy

27/08/2026 10:56

Overview
China renewable power producer's interim revenue fell 10.2% yr/yr, profit dropped 64.3%
Company cites curtailment, weaker resources, lower tariffs, and tax changes for profit decline
Company repurchased and cancelled 14.08 mln shares during the period

Outlook
Company did not provide specific financial outlook

Result Drivers
CURTAILMENT AND RESOURCE CONDITIONS - Co said increased wind and solar curtailment and weaker resource conditions amid abnormal weather weighed on profit
LOWER ELECTRICITY TARIFFS - Co said lower tariffs contributed to profit decline
TAX INCENTIVE PHASE-OUT - Co said phase-out of preferential tax incentives impacted profit

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 1.26 bln
 
H1 Net Income Attributable
 
RMB 100.60 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the independent power producers peer group is "buy"
Wall Street's median 12-month price target for Concord New Energy Group Ltd is HK$0.45, about 50% above its August 27 closing price of HK$0.30
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 26 - Hong Kong's China Resources Power H1 profit falls on lower power tariffs
Aug 26 - China's CGN New Energy H1 profit halves on weak wind projects
Aug 25 - Beijing Energy International interim revenue falls on lower electricity prices

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Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-27/7fde8065-dbcf-44be-8097-19297c4a2758.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.)