Concord New Energy forecasts up to 69% drop in H1 profit

The decline was attributed to lower power generation.

Concord New Energy Group Limited expects unaudited profit attributable to equity holders for the six months ended 30 June 2026 to fall by about 66% to 69% year-on-year, to between $17.08m (RMB90m) and $18.98m (RMB100m) from approximately $55.4m (RMB292m) a year earlier.

The decline was attributed to lower power generation, citing constraints on grid absorption and climate-related fluctuations.

“Coupled with the deepening of market-oriented power trading, the average comprehensive electricity tariff decreased, resulting in a reduction in revenue and profit from the power generation business,” the company said in an SGX filing.

The company said the figures were based on a preliminary assessment by its board and had not been reviewed or audited by its auditor. It is still finalising its interim results for the period.

Concord New Energy said it expects to publish its interim results in August 2026.

Shareholders and potential investors are advised to exercise caution when dealing with the shares of the company.

The group is headquartered in Singapore and operates wind power, solar energy, and energy storage projects, as well as AI-powered electricity infrastructure.

It also provides technical services and integrated solutions.

($1 = RMB5.26)

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