Core Viewpoint - The company expects a significant decline of over 80% in the profit attributable to equity holders for the year ending December 31, 2025, compared to the previous year, despite an increase in cash generated from operating activities during the reporting period [1]. Group 1: Profit Decline Reasons - The decrease in profit is primarily due to a decline in revenue and gross margin from power generation, attributed to suboptimal wind and solar resource conditions in certain regions of China, increased curtailment rates, and intensified competition leading to a drop in average electricity prices [2]. - Losses and impairments on certain assets have occurred due to changes in market value, resulting in losses on financial assets measured at fair value and impairments on long-term equity investments [2]. - The absence of non-recurring income related to tax refunds from obtaining Hong Kong tax resident status in the previous year has also impacted profit [2]. Group 2: Strategic Responses - The company has implemented a series of measures to address external challenges and operational pressures, achieving some initial results, including optimizing business and personnel structures, resulting in a reduction of over 30% in full-time employees compared to the end of 2024 [3]. - Enhanced operational and production management has improved equipment utilization and operational efficiency [3]. - The company is actively expanding projects and asset layouts, signing multiple long-term Power Purchase Agreements (PPAs) for photovoltaic projects in the U.S. with globally recognized firms, and establishing a joint equity fund with large insurance capital in China to explore new service business channels [3]. - A successful secondary listing in Singapore has further expanded international financing channels, creating new opportunities for global business development [3].
协合新能源(00182)已采取一系列应对措施，并取得阶段性成效