Core Viewpoint - Shandong High Holdings (00412) experienced a significant drop of nearly 30% today, despite a cumulative increase of over 120% since April. The stock is currently down 24.22% at HKD 12.61, with a trading volume of HKD 312 million [1] Financial Performance - For the first half of the year, Shandong High Holdings reported revenue of CNY 2.503 billion, a year-on-year decline of 11.64%, with emerging industries contributing 96% of the revenue [1] - The company achieved a net profit of CNY 476 million, a substantial increase of 506% year-on-year, while the attributable net profit was CNY 49.6 million, recovering from a loss of CNY 363 million in the same period last year [1] Strategic Developments - The decline in revenue is attributed to the company's strategic decision to reduce traditional investment operations and to actively withdraw from low-margin or high-risk businesses [1] - Notably, the Ulanqab integrated energy storage project under Shandong High Holdings made significant progress in the first half of the year. The first phase of the data center has commenced commercial operations, and the second phase is progressing steadily [1] - The renewable energy generation component of the Ulanqab project has completed approval and public announcement, with plans to start construction by the end of the year. The expected cost of green electricity is projected to be approximately 1-2 cents lower per kilowatt-hour compared to conventional coal power [1] Economic Impact - According to Zhongtai Securities (600918), if the Ulanqab data center is fully powered by the planned 1GW data center in the third phase, the expected annual incremental economic benefit could reach CNY 1.3 billion [1]