Zhi Tong Cai Jing·2025-08-19 11:48Core Insights - Longyuan Power (001289)(00916) reported a mid-year performance for 2025, with operating revenue of RMB 15.657 billion, a year-on-year increase of 3.1% [1] - The net profit attributable to equity holders was RMB 3.519 billion, a decline of 14.4% year-on-year, with earnings per share at RMB 0.42 [1] Revenue Breakdown - The wind power segment generated sales and other income of RMB 13.826 billion in the first half of 2025, a decrease of RMB 0.225 billion or 1.6% compared to RMB 14.051 billion in the same period of 2024, primarily due to a decline in average utilization hours and average grid tariff [1] - The solar power segment's sales and other income reached RMB 1.702 billion, an increase of RMB 0.674 billion or 65.6% from RMB 1.028 billion in the same period of 2024, driven by increased installed capacity and generation [1] Installed Capacity and Generation - In the first half of 2025, the group added 2,053.54 MW of new renewable energy installed capacity, including 986.95 MW of wind power and 1,096.59 MW of solar power, while reducing biomass power capacity by 30.00 MW [2] - As of June 30, 2025, the total installed capacity was 43,196.74 MW, comprising 31,395.72 MW of wind power, 11,794.92 MW of solar power, and 6.10 MW of other renewable energy [2] - The total generation for the first half of 2025 was 39,652,477 MWh, with wind power generation at 33,502,617 MWh, reflecting a year-on-year growth of 6.07%, and solar power generation at 6,146,915 MWh, up 71.37% year-on-year [2] Development Agreements - The group signed new development agreements totaling 1.24 GW in the first half of 2025, including 1.04 GW of wind power and 0.2 GW of energy storage, all located in resource-rich areas [2] - Cumulatively, the group obtained development indicators of 4.75 GW, with 2.98 GW for wind power and 1.77 GW for solar power [2]