纳泉能源科技(01597.HK)拟8月29日举行董事会会议以审批中期业绩 纳泉能源科技(01597.HK)预期中期 亏损不超约2500万元 格隆汇8月18日丨纳泉能源科技(01597.HK)公告，董事会会议将于2025年8月29日(星期五)举行，以(其中 包括)考虑及批准发布公司及其附属公司截至2025年6月30日止6个月的中期业绩，以及考虑派发末期股 息(如有)。 相关事件 ...

China Nature Energy Technology Holdings Limited 中 國 納泉能源科技控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1597） 董事會會議日期 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的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就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的任何損失承擔任何責任。 中國納泉能源科技控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會 議將於二零二五年八月二十九日（星期五）舉行，以（其中包括）考慮及批准發佈本公 司及其附屬公司截至二零二五年六月三十日止六個月的中期業績，以及考慮派發末期 股息（如有）。 承董事會命 中國納泉能源科技控股有限公司 主席 程里全 香港，二零二五年八月十八日 於本公告日期，董事會包括兩名執行董事，即程里全先生及程里伏先生；兩名非執 行董事，即李浩先生及程里勤女士；及三名獨立非執行董事，即洪佩瑜女士、康健 先生及李書升先生。 ...

集团2025年中期的亏损主要原因(i)储能业务受电力市场改革和强制性储能政策调整影响，集团储能业务 面临短期市场需求下滑，从而导致亏损;及(ii)市场竞争加剧致使集团变桨控制系统销售毛利下降。 智通财经APP讯，纳泉能源科技(01597)发布公告，集团预期于截至2025年6月30日止6个月录得亏损净额 不超过约人民币2500万元，而截至2024年6月30日止6个月的亏损净额约为人民币1507万元。 ...

本公告由中國納泉能源科技控股有限公司（「本公司」，連同其附屬公司統稱「本集 團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)(a)條及證 券及期貨條例（香港法例第571章）第XIVA部內幕消息條文（定義見上市規則）作出。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東（「股東」）及有意投資者，根 據本集團未經審核綜合管理賬目的初步審閱，本集團預期於截至二零二五年六月三 十日止六個月（「二零二五年中期」）錄得虧損淨額不超過約人民幣25,000,000元，而 截至二零二四年六月三十日止六個月的虧損淨額約為人民幣15,070,000元。 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，並明確表示概不就因本公告全部或任何部 分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 China Nature Energy Technology Holdings Limited 中國納泉能源科技控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1597） 盈利警告 本集團二零二五年中期的虧損主要原因(i)儲能 ...

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7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: 中國納泉能源科技控股有限公司 呈交日期: 2025年8月1日 第 2 頁 共 10 頁 v 1.1.1 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) | 01597 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 750,000,000 | HKD | | 0.01 | HKD | | 7,500,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 750,000,000 | HKD | | 0.01 | HKD | | 7,5 ...

Research and Development - The Group reported a significant focus on R&D, integration, manufacturing, and sales of high-voltage pitch control systems for wind turbines, with a product range covering sophisticated models for 2–9 MW series[7] - The Group plans to cautiously invest resources in the research and development of energy storage products and systems, aiming to establish a comprehensive energy storage supply chain[56] Energy Storage Business - The energy storage business is a core area, leveraging advanced technologies such as IoT and AI, with a modern factory in Wuxi covering 13,000 square meters for stable battery assembly[10] - The Company has signed cooperation agreements with CCCC Industrial Investment Holding Limited and others for comprehensive energy storage business development[10] - The company plans to enhance its energy storage business and establish a stable supply chain, aiming to develop it as a new profit growth point[32] - In 2024, the company recognized two order projects in energy storage integration, indicating progress in this core business area[51] - The revenue from the energy storage business in 2024 amounted to approximately RMB 68.7 million, representing an increase of approximately RMB 40 million or approximately 136% from 2023, attributed to customer recognition of the energy storage system[66] - The gross profit margin of the energy storage business in 2024 was approximately –12%, a decrease of 38% from approximately 26% in 2023, primarily due to high labor and raw material costs[79] - The cost of sales for the energy storage business in 2024 was approximately RMB 77.1 million, an increase of RMB 55.1 million from approximately RMB 22 million in 2023, driven by increased material and labor costs[75] Financial Performance - In 2024, the company's revenue decreased to RMB 148,280,000, a decline of 48% compared to RMB 284,075,000 in 2023[22] - The gross loss was RMB 8,968,000, compared to a gross profit of RMB 26,945,000 in 2023, representing a 133% decline[22] - Loss attributable to shareholders increased to RMB 34,733,000, a 242% increase from RMB 10,144,000 in 2023[22] - The Group's total revenue for 2024 was approximately RMB 148.3 million, a decrease of approximately RMB 135.8 million or 47.8% from 2023, primarily due to a reduction in the number of slurry transformers delivered and a decline in operation and maintenance business[59] - The revenue from pitch control systems in 2024 was approximately RMB 53.7 million, a decrease of approximately RMB 163.9 million or approximately 75% from 2023, due to a reduction in orders[61] - The revenue from wind farm operation and maintenance business in 2024 was approximately RMB 10 million, representing a decrease of approximately RMB 10 million or approximately 48% from 2023[65] - The Group recorded a net loss of approximately RMB39.4 million in 2024, an increase of approximately RMB26.9 million from the net loss of approximately RMB12.5 million in 2023, primarily due to increased market competition affecting gross profit in the pitch control systems and energy storage business[90] Market Position and Partnerships - The Company has established stable partnerships with major wind power manufacturers, including Envision Energy and CRRC Group, enhancing its market position[7] - The focus on integrated energy projects, including wind power storage and smart micro-grids, showcases the Group's commitment to innovative solutions[10] - The establishment of new subsidiaries, such as Jiangsu Nature Hongyuan New Energy Technology Co., Ltd., indicates strategic market expansion efforts[6] Corporate Governance - The Company has adopted the Corporate Governance Code as the basis for its corporate governance practices and has complied with all applicable code provisions during the year ended December 31, 2024[178] - The composition of the Board includes Executive Directors, Non-executive Directors, and Independent Non-executive Directors, ensuring a diverse governance structure[195] - The Company has established a whistleblowing channel for employees and other contacts to anonymously report concerns about possible improprieties[184] - The Board meets at least four times a year, ensuring that all Directors have the opportunity to include matters in the agenda for discussion[197] - The Company emphasizes integrity and compliant operation as the foundation of corporate development, continuously improving compliance management systems[179] Management and Personnel - Mr. Li has over 18 years of experience in the wind power industry, having served as general manager and chairman of CECEP Wind-power Investment Corporation[154] - Ms. Wu has more than 20 years of experience in finance management, previously managing finances at Nanjing Powder Metallurgy Factory and Shanghai Nature Power Technology Co., Ltd.[161] - Mr. Kang has over 20 years of experience in strategic management and investor relations for large state-owned and multinational companies[148] - The Group employed a total of 160 employees as of December 31, 2024, an increase from 151 employees in 2023[112] Operational Efficiency - The Group has automated production capabilities with 2 production lines and 6 test benches, ensuring efficient manufacturing processes[7] - The gearing ratio improved to approximately 44% in 2024, a decrease of 6% from 50% in 2023, mainly due to optimization of supply chain management[99] - Capital expenditures in 2024 totaled approximately RMB7 million, significantly down from approximately RMB26 million in 2023, primarily for the purchase of energy storage production equipment[102] Cash Flow and Liabilities - Cash and cash equivalents decreased to RMB 58,202,000, down 23% from RMB 75,921,000 in 2023[24] - Total liabilities reduced to RMB 176,135,000, a 31% decrease from RMB 256,785,000 in 2023[24] - The Group's cash and cash equivalents for 2024 amounted to approximately RMB51 million, a decrease of approximately RMB5 million or approximately 8.9% from approximately RMB56 million in 2023, primarily due to operating losses[101] Foreign Exchange Risk - The company primarily operates in China, with its main business settled in RMB, but it has confirmed foreign currency assets and liabilities, mainly in USD, which expose it to foreign exchange risk[122] - The management has not entered into any forward foreign exchange contracts to hedge against foreign exchange risk but will continue to monitor and take prudent measures to mitigate this risk[122]

Financial Performance - The total revenue for the year ended December 31, 2024, was RMB 148,280,000, a decrease of 47.8% compared to RMB 284,075,000 in 2023[4] - The gross loss for the year was RMB 8,968,000, compared to a gross profit of RMB 26,945,000 in the previous year, indicating a significant decline in profitability[4] - The operating loss increased to RMB 38,880,000 from RMB 8,639,000 in 2023, reflecting a worsening operational performance[4] - The net loss for the year was RMB 39,428,000, compared to a net loss of RMB 12,482,000 in 2023, representing an increase in losses by 216.5%[4] - Basic and diluted loss per share was RMB 0.139, compared to RMB 0.041 in the previous year, indicating a deterioration in shareholder value[4] - The company reported a total loss of RMB 42,080,000 for the year ended December 31, 2024, compared to a profit of RMB 11,661,000 in 2023[19] - The group recorded a gross loss of approximately RMB 9 million in 2024, a decrease of RMB 36 million or 133% from a gross loss of RMB 27 million in 2023, mainly due to intense market competition and rising raw material costs[52] - The group reported a net loss of approximately RMB 39.4 million in 2024, an increase of RMB 26.9 million from a net loss of RMB 12.5 million in 2023, primarily due to declining gross margins in the variable pitch control system and energy storage businesses[59] Asset and Liability Management - Non-current assets decreased to RMB 133,747,000 from RMB 141,226,000, showing a decline in long-term asset value[6] - Current assets decreased significantly to RMB 264,592,000 from RMB 377,113,000, indicating liquidity challenges[6] - Total liabilities decreased to RMB 168,534,000 from RMB 244,078,000, reflecting a reduction in financial obligations[6] - The company's equity attributable to shareholders decreased to RMB 223,237,000 from RMB 257,892,000, indicating a decline in net worth[7] - The asset-liability ratio for the group in 2024 is approximately 44%, a decrease of 6% from 50% in 2023, mainly due to optimized supply chain management[61] Revenue Breakdown - The sales of pitch control systems and related components generated revenue of RMB 53,669,000 in 2024, down 75.3% from RMB 217,569,000 in 2023[18] - The energy storage business saw significant growth, with revenue increasing to RMB 68,686,000 in 2024 from RMB 29,114,000 in 2023, representing a growth of 135.5%[18] - In 2024, the company's total revenue was approximately RMB 148.3 million, a decrease of about RMB 135.8 million or 47.8% compared to 2023, primarily due to a reduction in the delivery of blade transformers and maintenance services[47] - The sales revenue from the blade control system and related components in 2024 was approximately RMB 53.7 million, a decrease of about RMB 163.9 million or 75% compared to 2023, due to a decline in orders received and delivered[49] - The energy storage business achieved a revenue of approximately RMB 68.7 million in 2024, an increase of about RMB 40 million or 136% compared to 2023, reflecting customer recognition of the energy storage systems[49] Cost Management - Employee costs decreased from RMB 36,103,000 in 2023 to RMB 34,258,000 in 2024, reflecting a reduction of approximately 5.1%[5] - The cost of inventory recognized as an expense dropped significantly from RMB 246,037,000 in 2023 to RMB 148,019,000 in 2024, a decrease of about 39.9%[26] - The company's sales cost for 2024 was approximately RMB 157 million, a decrease of about RMB 100 million or 39% compared to 2023[50] - In 2024, the sales cost of the energy storage business is approximately RMB 77.1 million, an increase of RMB 55.1 million compared to RMB 22 million in 2023, primarily due to increased material and labor costs driven by higher revenue in the energy storage segment[51] Operational Highlights - The company continues to focus on the research, development, and sales of pitch control systems and related components, as well as energy storage business[10] - The company delivered 494 sets of blade control system products in 2024, a decrease of 73% compared to the previous year[41] - The annual operating hours of the company's wind farm in 2024 were 2,407 hours, with a total wind power generation of 46.47 million kWh[42] - The company has made progress in energy storage integration, with two project orders secured and the self-developed "1P104S Pack project" advancing smoothly[44] - The company aims to establish a complementary supply chain for energy storage products and systems to enhance its competitive advantage[45] Other Financial Information - Other income for 2024 was RMB 1,642,000, a decrease of 56.3% from RMB 3,756,000 in 2023[21] - The company incurred net financing costs of RMB 3,200,000 in 2024, compared to RMB 3,022,000 in 2023[19] - The company received government subsidies totaling RMB 113,000 in 2024, up from RMB 78,000 in 2023, reflecting support for technology development[22] - The net loss from foreign exchange was RMB 72,000 in 2024, compared to a loss of RMB 237,000 in 2023[23] - The company recorded a deferred tax expense of RMB (3,357,000) in 2024, compared to RMB (915,000) in 2023, indicating an increase in deferred tax liabilities[27] - The group’s other income in 2024 is approximately RMB 1.6 million, a decrease of RMB 2.4 million from RMB 4 million in 2023, mainly due to reduced VAT refunds[54] - The group’s administrative and other operating expenses decreased to approximately RMB 25 million in 2024 from RMB 31 million in 2023, a reduction of RMB 6 million due to lower labor costs and expenses[56] Shareholder Information - The company has not declared or paid any dividends for the years ending December 31, 2024, and 2023[29] - The board does not recommend the payment of a final dividend for the year ending December 31, 2024 (2023: none) [76] - The average number of ordinary shares outstanding remained constant at 250,000,000 for both 2024 and 2023[28] - The annual general meeting will be held on June 27, 2025, with a notice to be published in due course [79] - Share transfer registration will be suspended from June 24, 2025, to June 27, 2025, to qualify for voting at the annual general meeting [80] - The annual results announcement will be published on the company's website and the stock exchange website, with the annual report to be sent to shareholders as applicable [81] Audit and Compliance - The audit committee has reviewed the annual performance and the consolidated financial statements for the year ending December 31, 2024, prepared in accordance with international financial reporting standards [77] - The group's auditor, KPMG, confirmed that the figures in the preliminary announcement align with the audited consolidated financial statements for the year ending December 31, 2024 [78] - The group has no significant contingent liabilities as of December 31, 2024[65]

| --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|----------------|--------------| | | | | | | | | | | | | | | | | | | | | | | | | | 202 INTERIM RE | | | | | | | | | | | | | | | | | | | | | | | | | | | | 纳泉智慧能源 | 中 國 納 泉 能 源 科 技 控 股 有 限 公 司 China Nature Energy Technology Holdings Limited (於 開 曼 群 島 註 冊 成 立 之 有 限 公 司) (Incorporated in the Cayman Islands with limited liability) 股份代號 Stock code : 1597 CONTENTS 目錄 | --- | --- | --- | |---------------------------- ...

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of RMB 49,241 thousand, a decrease of 60.3% compared to RMB 123,806 thousand for the same period in 2023[2] - The gross profit for the same period was RMB 43 thousand, significantly down from RMB 9,608 thousand in 2023, indicating a drastic decline in profitability[2] - Operating loss for the six months was RMB 14,988 thousand, compared to a loss of RMB 3,715 thousand in the previous year, reflecting a worsening operational performance[2] - The net loss for the period was RMB 15,070 thousand, which is a 174.5% increase from the net loss of RMB 5,467 thousand in 2023[2] - Basic and diluted loss per share for the period was RMB 0.053, compared to RMB 0.018 in the same period last year[2] - The company reported a total comprehensive loss of RMB 15,088 thousand for the period, compared to RMB 5,478 thousand in 2023, indicating a significant increase in overall losses[3] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 464,596 thousand, down from RMB 518,339 thousand as of December 31, 2023, indicating a decrease of 10.4%[4] - Current liabilities increased to RMB 208,326 thousand from RMB 244,078 thousand, a decrease of 14.6%[4] - The company's cash and cash equivalents decreased to RMB 36,701 thousand from RMB 55,824 thousand, a decline of 34.3%[4] - Non-current assets decreased to RMB 137,936 thousand from RMB 141,226 thousand, a decline of 2.0%[4] - Trade receivables and notes receivable, net of loss provisions, amounted to RMB 140,998,000 as of June 30, 2024, compared to RMB 212,660,000 as of December 31, 2023[28] - Trade payables decreased to RMB 59,357 million as of June 30, 2024, from RMB 77,581 million as of December 31, 2023, a reduction of approximately 23.4%[39] - Other payables decreased to RMB 41,103 million as of June 30, 2024, down from RMB 46,322 million as of December 31, 2023, reflecting a decline of about 11.5%[41] Revenue Breakdown - The revenue from the sales of pitch control systems and related components was RMB 19,921 thousand, down 80.7% from RMB 103,021 thousand year-over-year[10] - The energy storage business saw significant growth, with revenue increasing to RMB 14,297 thousand from RMB 551 thousand, representing a growth of 2,493.1%[10] - Total revenue for the first half of 2024 was approximately RMB 49.24 million, a decrease of 60% compared to RMB 124 million in the first half of 2023, primarily due to a reduction in sales orders for the pitch control system[55] - Revenue from the pitch control system business in the first half of 2024 was approximately RMB 19.92 million, a decrease of about RMB 83 million or approximately 81% compared to the same period in 2023[56] - The company reported a gross profit of approximately RMB 0 million for the first half of 2024, a decrease of approximately 100% from RMB 10 million in the first half of 2023, resulting in a gross margin of 0%[59] - The energy storage business generated revenue of approximately RMB 14.3 million in the first half of 2024, significantly up from RMB 0.55 million in the same period of 2023[55] Expenses and Costs - The cost of inventory recognized as an expense for the six months ended June 30, 2024, was RMB 44,917,000, down from RMB 108,166,000 in 2023[22] - Sales and distribution expenses increased to approximately RMB 4 million in the first half of 2024 from RMB 3 million in the same period of 2023, primarily due to increased promotional costs for the energy storage business[61] - The group incurred capital expenditures of approximately RMB 3 million in the first half of 2024, a decrease of about RMB 17 million from RMB 20 million in the first half of 2023[69] Financing and Cash Flow - The net financing cost for the six months ended June 30, 2024, was RMB 1,714,000, compared to RMB 1,277,000 for the same period in 2023[21] - As of June 30, 2024, cash and cash equivalents in mainland China amounted to RMB 28,666 million, a decrease from RMB 44,573 million as of December 31, 2023, reflecting a decline of approximately 35.7%[33] - Pledged deposits for notes payable were RMB 10,674 million as of June 30, 2024, down from RMB 20,097 million as of December 31, 2023, representing a decrease of about 46.9%[34] - Total bank loans and other borrowings increased to RMB 93,606 million as of June 30, 2024, compared to RMB 68,561 million as of December 31, 2023, marking an increase of approximately 36.5%[35] - As of June 30, 2024, the group had bank and other borrowings of approximately RMB 94 million, an increase of about RMB 25 million from RMB 69 million as of December 31, 2023[67] Strategic Focus and Market Position - The company has maintained deep cooperation with high-quality customers, expanding its market share in pitch control systems, now covering five of the top ten wind turbine manufacturers in China[48] - The company plans to strengthen its energy storage team and enhance research and development of energy storage products and systems, aiming to make energy storage a core business[53] - The company is focused on maintaining its market share in the pitch control system and stabilizing its mature wind power generation and operation and maintenance business[54] - The group faces risks related to policy uncertainty that could adversely affect demand in the wind power and energy storage sectors[72] Employee and Corporate Governance - The group employed 174 staff as of June 30, 2024, an increase from 151 employees as of December 31, 2023[71] - The board does not recommend the distribution of an interim dividend for the six months ended June 30, 2024[79] - The group has no significant contingent liabilities as of June 30, 2024[69] - The group has not purchased, sold, or redeemed any of its listed securities during the six months ended June 30, 2024[75] - The company has not declared or paid any dividends for the six months ended June 30, 2024[42] Accounting and Compliance - The company did not adopt any new accounting standards or interpretations that would significantly impact the financial statements for the current accounting period[3] - The group has not entered into any forward foreign exchange contracts to hedge foreign exchange risks as of June 30, 2024[74]

Financial Performance and Management - The Group's capital expenditure for 2023 amounted to approximately RMB 26.4 million, a significant increase from RMB 6.5 million in 2022, primarily for the acquisition of energy storage production lines and other fixed assets[2]. - The Group incurred short-term borrowings of RMB 9.9 million during the year, with RMB 8 million secured against the intellectual property of a subsidiary[3]. - The Group's financial performance is significantly influenced by policy changes in the new energy power industry, which could lead to reduced demand and impact operational performance[7]. - The Group's financial management practices ensure sufficient working capital to meet current and future operational and financial needs[1]. - The company does not have a predetermined dividend payout ratio, and any future dividends will depend on the board's discretion based on operational performance, cash flow, and financial condition[71]. Human Resources and Employment - As of December 31, 2023, the Group employed a total of 151 employees, a decrease from 218 employees as of December 31, 2022[4]. - As of December 31, 2023, the Group had a total of 151 employees, with 10% of senior management and 34% of the total workforce being female[175]. - The Board comprises seven members, including two female Directors and five male Directors, with a diverse range of skills and experiences in various fields[171]. Governance and Compliance - The company has complied with all applicable code provisions under the Corporate Governance Code during the year ended December 31, 2023[54]. - The company has adopted the principles and code provisions set out in the Corporate Governance Code as the basis for its governance practices[54]. - The company is committed to sustainable development by enhancing compliance management systems[56]. - The company prohibits unauthorized use of confidential or inside information and regularly reminds directors and employees about compliance with securities dealing restrictions[92]. - The Company complied with relevant legal and regulatory requirements during the year, ensuring effective corporate governance practices[179]. Board Structure and Diversity - The Group's board composition includes a mix of executive and independent non-executive directors, ensuring diverse governance[37]. - The Company has adopted a Board Diversity Policy to enhance diversity at the Board level, recognizing its importance for competitive advantage[170]. - Diversity in the Board's composition is considered from various perspectives, including professional experience, gender, age, and cultural background[200]. - The Nomination Committee is responsible for reviewing Board composition and making recommendations on the appointment and succession planning of Directors[162]. - The Nomination Committee evaluates the qualifications of retiring Directors standing for re-election at the annual general meeting[196]. Risk Management and Internal Control - The board reviewed the risk management and internal control systems for the year ended December 31, 2023, and deemed them effective and adequate[90]. - The company has established internal guidelines and procedures to monitor and mitigate risks arising from daily operations, which are crucial for business sustainability[88]. - The Audit Committee's primary duties include reviewing the Group's financial information, overseeing the financial reporting system, and ensuring compliance with accounting standards and legal requirements[125]. - The Board monitors the Group's operational and financial performance to ensure sound internal control and risk management systems are in place[133]. Committees and Meetings - The Company has established an Audit Committee, which held two meetings during the year ended December 31, 2023, to review and discuss the annual financial performance and interim financial results[130]. - The Remuneration Committee held one meeting during the year and made recommendations on the remuneration packages of individual executive Directors and senior management[190]. - The Nomination Committee held one meeting during the year ended December 31, 2023, focusing on the structure, size, composition, and diversity of the Board[196]. - The Audit Committee held two meetings during the year to discuss financial reporting systems, risk management, and internal control systems[186]. Research and Development - The Group's commitment to research and development is reflected in its investment in new technologies and solutions for the new energy sector[11].