CGN NEW ENERGY (01811) issued a profit warning, expecting a year-on-year decline of approximately 49.8% in net profit attributable to equity shareholders for the first half of the year.

CGN NEW ENERGY (01811) announced that the group expects to achieve a profit attributable to equity shareholders in the first half of 2026, which will represent a year-on-year decrease of approximately 49.8%. The board believes that the expected decline in profit is primarily due to the following factors: The grid-connected electricity price and power generation of wind power projects in China have both decreased; and other income and losses have decreased, mainly due to the absence of income from the sale of a combined heat and power project in China during the six-month period ending June 30, 2026, compared to the income received from that sale during the six-month period ending June 30, 2025. Excluding the impact of one-off sale income, the expected profit attributable to equity shareholders for the six months ending June 30, 2026, is expected to decrease by approximately 41.3% compared to the same period in 2025.