BJ ENERGY INTL(00686) issued a profit warning, expecting a net comprehensive loss of approximately RMB 140 million for the equity holders of the company in 2025.

BJ ENERGY INTL (00686) announced that the group is expected to achieve a net profit of approximately RMB 30 million in 2025, with the shareholders' share of comprehensive loss net amounting to approximately RMB 140 million. In comparison, the group achieved a net profit of RMB 557 million in 2024, with the shareholders' share of comprehensive profit amounting to RMB 86 million. During the current year, the group continued to focus on the development, construction, operation, and management of power plants and other clean energy projects. As of December 31, 2025, the group and its affiliated companies collectively owned power plants with a total installed capacity of approximately 15.29 gigawatts, representing an increase of about 13% from the total installed capacity as of December 31, 2024. The group expects its revenue to increase by about 10% - 11% in the current year. The board of directors believes that the expected decrease in the group's net profit and the shareholders' share of comprehensive profit in the current year compared to 2024 is mainly due to: (1) an increase in curtailment losses due to market conditions, coupled with a decrease in the average grid electricity price, leading to a reduction in the profitability of each kilowatt-hour of grid electricity; (2) adjustments to tax policies in the new energy generation industry and the expiration of certain income tax incentives for some projects, resulting in increased income tax expenses. These factors have led to a decrease in net profit for the period.