Financial Performance - The total electricity generation from solar power stations in China was approximately 88,684 MWh, a decrease of 19.3% compared to 109,912 MWh in the same period of 2024[13]. - Revenue from solar power generation in China decreased by RMB 15.4 million or 18.6% to RMB 67.5 million, primarily due to the reduction in electricity generation[16]. - Gross profit decreased by RMB 10.5 million or 44.3% to RMB 13.2 million compared to RMB 23.7 million in the same period of 2024[19]. - The net loss for the period was RMB 210.7 million, a decrease of RMB 8.3 million compared to RMB 219.0 million in the same period of 2024[28]. - For the six months ended June 30, 2025, the company reported a revenue of RMB 67,485,000, a decrease of 18.5% compared to RMB 82,875,000 for the same period in 2024[86]. - The gross profit for the same period was RMB 13,226,000, down 44.5% from RMB 23,693,000 in 2024[86]. - The company incurred a loss before tax of RMB 211,023,000, slightly improved from a loss of RMB 218,466,000 in the previous year[86]. - The group reported a loss of RMB 210,689,000 for the six months ended June 30, 2025, compared to a loss of RMB 219,004,000 for the same period in 2024[58]. Cash Flow and Liquidity - As of June 30, 2025, the company's cash and cash equivalents were only approximately RMB 3,406,000, raising concerns about liquidity[81]. - The company has total bank and other borrowings of RMB 1,925,266,000, which are due within one year[78]. - The overdue bank and other borrowings amounted to approximately RMB 995,423,000 as of June 30, 2025[78]. - The company is facing significant uncertainty regarding its ability to continue as a going concern due to its financial situation[82]. - The company has a significant amount of payables related to solar power station EPC projects, totaling RMB 45,752,000 as of June 30, 2025[142]. Debt and Liabilities - The company's net current liabilities amounted to RMB 2,713,220,000, with total borrowings and bonds payable of RMB 1,925,266,000 due within one year[58]. - The overdue borrowings as of June 30, 2025, were approximately RMB 995,423,000, compared to RMB 908,316,000 on December 31, 2024, indicating an increase in overdue debt[150]. - The company has been ordered by the Jiangsu Province Intermediate People's Court to repay bondholders a total of RMB 329,909,000 in principal and RMB 158,578,000 in accrued interest[78]. - The company is facing a liquidation petition related to overdue principal and interest obligations totaling HKD 289,100,000 as of February 13, 2025[61]. - The group’s total liabilities increased to RMB 5,153,907,000 from RMB 4,961,981,000, marking a rise of 3.9%[116]. Operational Metrics - The number of days for trade receivables turnover increased to 2,343.8 days from 1,814.9 days as of December 31, 2024[29]. - The number of days for trade payables turnover increased to 252.1 days from 38.0 days as of December 31, 2024[30]. - The company’s trade and other receivables increased to RMB 1.04 billion as of June 30, 2025, compared to RMB 987.67 million at the end of 2024[90]. - The aging analysis of trade receivables shows that RMB 836,910,000 is overdue by more than 180 days as of June 30, 2025, compared to RMB 785,545,000 at the end of 2024[138]. Corporate Governance and Management - The board has resolved not to declare an interim dividend for the period[49]. - The company has 113 employees as of June 30, 2025, with compensation aligned to employee responsibilities and performance[48]. - The company has maintained a public float of at least 25% of its issued shares as required by listing rules[65]. - The company has no arrangements that allow directors and senior management to benefit from acquiring shares or debentures of the company or any other entity[67]. Future Outlook and Strategies - The company is actively considering various fundraising options, including refinancing and potential sale of remaining solar power plants, to enhance financial stability[52]. - Significant progress has been made in negotiations with creditors regarding overdue debts since the end of the reporting period[50]. - The company plans to complete the potential sale of subsidiaries and expects to receive proceeds as per its anticipated amounts and timelines[100]. - The company is in discussions with creditors, banks, financial institutions, and bondholders for alternative refinancing and/or extension of maturity dates[100]. Compliance and Reporting - The report is compliant with the relevant provisions of the Hong Kong Listing Rules and International Accounting Standards[74]. - The review of the interim financial data was conducted in accordance with the Hong Kong Institute of Certified Public Accountants' standards[75]. - The company has disclosed all relevant interests and holdings of directors and senior management as required by the Securities and Futures Ordinance[68]. - The interim financial data was approved by the board on August 29, 2025[170].

Core Viewpoint - Shunfeng Clean Energy (01165) announced the resignation of Mr. Wang Yu from multiple key positions, effective September 26, 2025, to focus on personal business development [1] Group 1 - Mr. Wang Yu has submitted his resignation as Executive Director, Chairman of the Board, Chief Executive Officer, Chairman of the Nomination Committee, and Authorized Representative of the company [1] - The Board has appointed Mr. Han Jibiao as Executive Director, Chairman, Chief Executive Officer, Chairman of the Nomination Committee, and Authorized Representative, effective September 26, 2025 [1]

Core Viewpoint - Shunfeng Clean Energy (01165.HK) announced the resignation of Wang Yu from multiple key positions, effective September 26, 2025, to focus on personal business development [1] Group 1 - Wang Yu has submitted his resignation as Executive Director, Chairman of the Board, CEO, Chairman of the Nomination Committee, and Authorized Representative [1] - Han Jibiao has been appointed as Executive Director, Chairman, CEO, Chairman of the Nomination Committee, and Authorized Representative, effective September 26, 2025 [1]

(Incorporated in the Cayman Islands with limited liability) (Stock Code: 01165) 董事名單與其角色和職能 順風國際清潔能源有限公司董事會(「董事會」)成員載列如下。 董事會設立 3 個委員會，各委員會的成員資料載列如下： 審核委員會 鄺偉信先生（主席） 趙玉文先生 謝韻女士 1 薪酬委員會 執行董事 韓繼彪先生（董事長, 首席執行官） 邱波先生 獨立非執行董事 趙玉文先生 鄺偉信先生 謝韻女士 鄺偉信先生（主席） 趙玉文先生 謝韻女士 邱波先生 提名委員會 韓繼彪先生（主席） 鄺偉信先生 趙玉文先生 香港，2025 年 9 月 26 日 2 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因依賴該等內容而引致之任何損失承擔任何責任。 01165 執行董事、 董事會董事長、首席執行官、 提名委員會組成及 授權代表變動 執行董事、董事會董事長、首席執行官、提名委員會主席及授權代表之辭任 王先生已確認，彼與本公司或董事會概無意見分歧，亦無有關彼辭任的事宜須提請本公 司股東或香港聯合交易所有限公司（「聯交所」）垂注。 順風國際清潔能源有限公司（「本公司」，連同其附屬公司稱為「本集團」）董事（「董事」）會 （「董事會」）謹此宣佈，王宇先生（「王先生」）已提交辭呈，辭任執行董事、董事會董事長 （「董事長」）、本公司首席執行官（「首席執行官」）、董事會提名委員會（「提名委員會」）主 席及本公司授權代表（「授權代表」），自2025年9月26日起生效，以投入更多時間於其他個 人業務發展。 董事會謹藉此機會對王先生於彼擔任董事期間對本公司作出的寶貴貢獻致以衷心謝意及 感激。 — 1 — 執行董事、董事會董事長、首席執行官、提名委員會主席及授權代表之委任 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 順風國際清潔能源有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01165 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法 ...

Core Viewpoint - Shunfeng Clean Energy (01165.HK) reported a decline in mid-term performance, with revenue dropping by 18.6% year-on-year due to reduced power generation and revenue from solar power plants in China [1] Financial Performance - Revenue decreased from RMB 82.9 million in the same period of 2024 to RMB 67.5 million in 2025 [1] - Power generation fell by 19.3%, with 2024's generation at 109,912 MWh compared to 88,684 MWh in the first half of 2025 [1] - The company experienced a loss of approximately RMB 430 million in revenue due to reduced power generation in several provinces [1] Operational Impact - The reduction in power generation led to an estimated loss of about 55,000 MWh during the reporting period [1] - The company's loss for the first half of 2025 was RMB 211 million, a decrease of RMB 8.3 million from RMB 219 million in the same period of 2024 [1]

Core Viewpoint - Shunfeng Clean Energy (01165) reported a significant decline in revenue and an increase in losses for the first half of 2025, primarily due to reduced electricity generation and production capacity [1] Financial Performance - Revenue for the first half of 2025 was 67.485 million RMB, representing an 18.6% year-on-year decrease [1] - The company reported a loss attributable to shareholders of approximately 210 million RMB, a decrease of 3.24% compared to the previous year [1] - Earnings per share were reported at a loss of 4.13 cents [1] Operational Challenges - The decrease in revenue was mainly attributed to a 19.3% reduction in confirmed electricity generation, equivalent to 21,228 MWh [1] - Electricity generation for the current period was 88,684 MWh, down from 109,912 MWh in the same period of 2024 [1] - The company's solar power plants in several provinces or regions in China were affected by reduced energy production, leading to a revenue decline of approximately 43 million RMB from electricity generation [1] - The estimated loss in electricity generation was around 55,000 MWh during this period [1]

Core Viewpoint - Shunfeng Clean Energy (01165) reported a significant decline in revenue and an increase in losses for the first half of 2025, primarily due to reduced electricity generation and production capacity [1] Financial Performance - Revenue for the period was 67.485 million RMB, representing an 18.6% year-on-year decrease [1] - The loss attributable to shareholders was approximately 210 million RMB, a decrease of 3.24% compared to the previous year [1] - Earnings per share showed a loss of 4.13 cents [1] Operational Highlights - The reduction in revenue was mainly attributed to a 19.3% decrease in confirmed electricity generation, equating to 21,228 MWh [1] - Electricity generation for the current period was 88,684 MWh, down from 109,912 MWh in the same period of 2024 [1] - The company's solar power plants in several provinces in China experienced reduced energy production, leading to a revenue decline of approximately 43 million RMB and an estimated loss of 55,000 MWh in generation [1]

Revenue and Profitability - Revenue for solar power generation decreased to RMB 67,485,000 from RMB 82,875,000, a decline of 18.6%[5] - Gross profit fell to RMB 13,226,000, down 44.2% compared to RMB 23,693,000 in the previous year[5] - Total revenue for the six months ended June 30, 2025, is RMB 67,485,000, a decrease from RMB 82,875,000 for the same period in 2024, representing a decline of approximately 18.5%[23] - Electricity sales revenue for the six months ended June 30, 2025, is RMB 17,751,000, down from RMB 20,200,000 in 2024, reflecting a decrease of about 22.3%[23] - Revenue from solar power generation in China decreased by RMB 15.4 million or 18.6% to RMB 67.5 million, primarily due to the reduction in power generation[47] - The gross profit decreased by RMB 10.5 million or 44.3% to RMB 13.2 million compared to RMB 23.7 million in the same period of 2024[49] - Other income decreased by RMB 0.5 million or 17.2% to RMB 2.4 million, mainly due to a significant drop in bank interest income[50] Loss and Financial Performance - The net loss for the period was RMB 210,689,000, a slight improvement of 3.8% from RMB 219,004,000 in the prior year[5] - Adjusted EBITDA was RMB 39,472,000, representing a decrease of 14.5% from RMB 46,143,000 year-over-year[5] - The total loss before tax for the first half of 2025 is RMB 211,023,000, slightly improved from a loss of RMB 218,466,000 in the same period of 2024[30] - The company recorded a net loss of RMB 49.0 million during the period, compared to a net loss of RMB 40.2 million in the same period of 2024[51] - The current period loss decreased by RMB 8.3 million from RMB 219 million in 2024 to RMB 210.7 million in the current period[58] Liabilities and Financial Position - Total current liabilities increased to RMB 4,661,051,000 from RMB 4,506,877,000, reflecting a rise in trade and other payables[11] - The company's net current liabilities stood at RMB (2,713,220,000) as of June 30, 2025, compared to RMB (2,587,807,000) at the end of 2024[11] - The total liabilities as of June 30, 2025, amounted to RMB 1,261,896,000, an increase from RMB 1,080,540,000 as of December 31, 2024[39] - The company reported net current liabilities of RMB 2,713.22 million and net liabilities of RMB 2,119.26 million as of June 30, 2025[80] - The group's current ratio was 0.42 as of June 30, 2025, compared to 0.43 as of December 31, 2024, indicating a negative net cash position of RMB 3,589.6 million[61] Cash Flow and Liquidity - The company has cash and cash equivalents of approximately RMB 3,406,000 as of June 30, 2025, indicating significant uncertainty regarding the ability to continue as a going concern[19] - The company has implemented a series of plans and measures to improve liquidity and financial conditions, believing future cash flows will be sufficient to meet all liabilities[20] - There are significant uncertainties regarding the group's ability to continue as a going concern due to financial obligations and cash flow issues[85] - The board is taking measures to improve liquidity and financial conditions, but the success of these measures is uncertain[85] Debt and Financing - The company is in discussions with creditors, banks, financial institutions, and bondholders regarding alternative refinancing and/or extending maturity dates[22] - The company is actively considering refinancing and other measures to raise funds to enhance financial stability and support long-term strategic development[76] - The company has pledged trade and other receivables amounting to RMB 986.7 million and solar power stations valued at RMB 908.7 million to obtain mortgage loans and general credit facilities[68] - The company reported overdue bank and other borrowings of approximately RMB 995,423,000 as of June 30, 2025[13] Employee and Corporate Governance - The company has 113 employees as of June 30, 2025, with compensation aligned with employee responsibilities and performance[72] - The company has not declared any dividends for the periods ending June 30, 2025, and 2024[33] - The company has not purchased, sold, or redeemed any of its listed securities during the period[86] - The company maintains a public float of at least 25% of its issued shares as required by listing rules[87] Other Financial Metrics - The total segment profit/loss for 2025 is RMB 1,177,000, a significant improvement from a loss of RMB 29,439,000 in 2024[26] - Interest income from bank sources decreased to RMB 17,000 in 2025 from RMB 385,000 in 2024, a decline of approximately 95.6%[28] - The expected credit loss under the impairment loss model was RMB 4.1 million for the current period, compared to RMB 19.2 million for the same period in 2024, primarily due to a loss provision of RMB 15.7 million for receivables from related parties in 2024[52] - Administrative and general expenses decreased by RMB 3.1 million or 10.4% from RMB 29.9 million in 2024 to RMB 26.8 million in the current period[53] - Financial expenses decreased by RMB 8.2 million or 5.2% from RMB 156.7 million in 2024 to RMB 148.5 million in the current period[55] Reporting and Compliance - The interim financial results have been published in accordance with the listing rules and are available on the Hong Kong Stock Exchange website[88] - The interim report will be sent to shareholders in electronic form and will be available for review on the company's website[88] - The company has not applied new or revised International Financial Reporting Standards that have been issued but are not yet effective, and the impact of these standards is still being assessed[21]