Concord New Energy Concord New Energy Announces 2026 Interim Results: Strategic Transformation Begins to Deliver Results, Firmly Advancing Business Globalization

(27 August 2026, Hong Kong) Concord New Energy Group Limited (“CNE” or “the Group”, Stock Code: 0182.HK, SEG.SG) announced its interim results for the six months ended 30 June 2026 (the “Period”). During the Period, the Group advanced its project development, achieved notable progress in commercial development cooperation across China, successfully commissioned solar power projects in Singapore and New Zealand, and launched post-investment management for its first renewable energy private fund—marking a milestone in the Group’s evolution into a dual role of “operator + professional asset manager”. Asset optimization progressed steadily, while administrative expenses and financing costs declined further. However, due to a combination of adverse factors—including intensified wind and solar curtailment in China, suboptimal resource conditions during the first half of the year, declining electricity prices, and the phase-out of tax incentives—profit attributable to equity holders of the Group decreased year-on-year.

During the Period, the Group achieved revenue of RMB1,258 million, representing a decrease of 10.2% compared to the corresponding period last year. Profit attributable to equity holders of the Company amounted to RMB101 million, with basic earnings per share of RMB1.29 cents. Despite the revenue decline, the Group’s cash flow remained robust, with operating cash flow reaching RMB1,306 million, representing a year-on-year increase of approximately 25.5%. As of 30 June 2026, the Group’s cash and bank balances increased to RMB1,988 million, representing a significant increase of 54%.

In the first half of 2026, the Group seized power demand opportunities arising from surging global AI investment, establishing a presence in AI data center (AIDC) development and related integrated energy solutions in the United States, Southeast Asia, and Eastern Europe. Through customized clean power solutions, the Group is advancing the integration of renewable energy and storage projects into AIDC infrastructure, and its innovative AIDC energy solutions business is gradually maturing. At the same time, the Group is actively pursuing long-term power purchase agreements (PPAs) for renewable energy projects in mature markets where electricity demand is expanding rapidly and appetite for green power is strong, thereby enhancing the projects’ earnings certainty and improving project bankability. The Group also accelerated the conversion of its pipeline projects in China into tangible outcomes. During the Period, it signed commercial development agreements covering an aggregate capacity of 1,070 MW, while grid connection and pre-construction preparations for several other projects are progressing in an orderly manner.

During the Period, the Group continued to optimize its asset portfolio. The renewable energy private equity fund established by the Group in partnership with Taikang Insurance completed its first acquisition, comprising wind power assets with an aggregate capacity of 401 MW. The fund has formally entered the post-investment management phase, marking a milestone in the Group’s transformation toward a dual role as both an operator and a professional asset manager. Meanwhile, the Group also completed the divestment of a 70 MW solar PV project to a third party. During the Period, the attributable installed capacity of operational projects transferred to the renewable energy private fund and other divested assets totaled 351 MW. As of 30 June 2026, the Group’s attributable installed capacity of wind and solar PV power plants amounted to 4,586 MW, of which grid-parity projects accounted for 3,324 MW, representing 72.5% of the total attributable installed capacity.

Facing challenges in the industry operating environment, the Group continued to strengthen its safety management system. During the Period, no general or major safety incidents occurred, and power plant operations remained safe and stable. The Group continued to improve the operational performance of its power plants. During the Period, 12 of the Group’s power plants ranked in the top 20% of the China Electricity Council’s 2025 operational benchmarking assessment for wind and solar PV facilities, including four sites awarded a 5A rating.

In terms of electricity marketing, the Group closely tracked and studied evolving power sector policies and trading rules, and developed software modules leveraging AI and proprietary algorithms to enable automated trading, price spread forecasting, and cross-departmental data collaboration, thereby enhancing the electricity marketing business. Capitalizing on these professional trading capabilities, the Group’s operating power plants achieved settlement tariffs above the market average in most provincial power markets. During the Period, the Group completed green electricity transactions totaling 660 million kWh, representing an increase of 27% year-on-year. Concurrently, newly signed green certificate sales contracts reached RMB16.3 million, surging 92% compared to the same period last year.

During the Period, the Group continued to deepen partnerships with multiple global financial institutions. Capitalizing on favorable domestic market conditions, the Group refinanced and optimized existing debt across multiple channels, reducing its comprehensive financing rate by a further 8 basis points from the end of 2025 to 3.43%, falling below China’s 5-year-plus Loan Prime Rate (LPR) of 3.50% for the first time. The Group achieved financial close for its solar PV projects in South Korea and New Zealand, while project financing for solar PV and BESS projects in the United States and Singapore is progressing on schedule.

Mr. Liu Shunxing, Chairman of Concord New Energy Group Limited, commented: “Amid profound shifts in the new energy industry, the Group has remained steadfast in advancing its strategic transformation in recent years, achieving tangible progress in global business expansion, asset portfolio optimization, operational efficiency enhancement, and cost reduction. We will actively capitalize on the historic opportunities arising from the rapid advancement of AI, positioning AIDC development and integrated energy solutions as a primary focus of our transformation, and driving the iterative upgrade of our overall business. Looking ahead, the Group will continue to execute its established strategy, uphold prudent operations, disciplined investment, and a quality-first approach, steadily advance globalization, deepen asset optimization, and vigorously expand our professional services while strengthening power marketing capabilities to drive revenue growth. We remain committed to delivering stable and sustainable long-term returns to our shareholders.”