SDHS NEW ENERGY (01250) announced its interim results, with shareholders' profit attributable to the company at 154 million yuan, a decrease of 46.23% compared to the same period last year.

SDHS NEW ENERGY (01250) announced its interim results for the six months ending June 30, 2026, reporting an operating revenue of RMB 2.131 billion, a decrease of 11.18% year-on-year; the profit attributable to equity holders of the company was RMB 154 million, down 46.23% compared to the previous year; earnings per share were 6.87 cents. The announcement stated that the contribution of new grid-connected projects during the reporting period was offset by the widespread impact of power rationing and the decline in market-driven electricity prices. With the rise in power rationing, the loss of revenue from electricity generation due to power cuts became a core negative factor affecting profits in the first half of the year. At the same time, the implementation of market-based electricity pricing began this year, marking the transition of new energy prices into a fully market-driven trading era, where new projects no longer benefit from fixed guaranteed electricity prices (with some slight impact on existing projects as well). Their revenue is now determined by medium-to-long-term transactions, the spot market, green power trading, and other factors, which puts downward pressure on the group's daily operations due to declining electricity prices. These factors combined led to an increase in the proportion of revenue from grid parity projects (while the proportion of revenue from subsidized projects decreased).