Zhejiang Provincial New Energy Investment Group Co Ltd

Zhejiang Provincial New Energy Investment Group released its 2026 interim report. Total operating revenue was 2.225 billion yuan, down 9.36% year on year. Net profit attributable to the parent company was 156 million yuan, down 46.54% year on year. Net cash inflow from operating activities was 1.297 billion yuan, up 20.71% year on year, marking a third consecutive year of growth. The company's asset-liability ratio was 66.06%, gross margin was 34.47%, return on equity was 1.20%, and diluted earnings per share was 0.06 yuan. The number of shareholders was 77,300, and the top ten shareholders held 82.32% of total share capital.

Zhejiang New Energy has disclosed its earnings forecast, estimating that net profit attributable to the parent company for the first half of 2026 will be between 145 million and 189 million yuan, a year-on-year decline of 35.37% to 50.28%. Deducted non-recurring net profit is expected to be between 119 million and 163 million yuan, a year-on-year drop of 40.78% to 56.6%. The company stated that the decline in performance is mainly due to reduced hydropower generation caused by lower water inflows, weaker wind resources for offshore wind power, and increased curtailment rates along with falling electricity prices for solar power in some regions, leading to a decrease in operating revenue. Zhejiang New Energy is a comprehensive energy enterprise under the Zhejiang Energy Group engaged in renewable energy businesses such as wind power, solar power, and hydropower.