HK Stock Market Move | CGN NEW ENERGY (01811) opened down over 5%, expecting a year-on-year decline of approximately 49.8% in the net profit attributable to shareholders for the first half of the year.

CGN NEW ENERGY (01811) opened down over 5%, and as of the time of writing, it had fallen by 5.1%, trading at HKD 2.14, with a transaction volume of HKD 1.8875 million. In terms of news, CGN NEW ENERGY announced that it expects its net profit attributable to shareholders for the first half of the year to decrease by approximately 49.8% year-on-year. This is mainly attributed to a decline in the on-grid electricity price and power generation from wind power projects, as well as a reduction in other income and losses. After excluding the impact of one-time sale earnings, the expected profit attributable to equity shareholders for the period is anticipated to decrease by approximately 41.3% year-on-year.