Chinese renewable companies report weaker first-half earnings amid sector pressures

  • Longyuan Power and Sungrow Power Supply reported lower first-half 2026 revenue and profit.
  • Longyuan’s wind revenue fell 9.9% while Sungrow’s revenue declined 28.99% to RMB 30.91 billion.
  • Longyuan withheld its interim dividend, whereas Sungrow proposed RMB 6.4 for every 10 shares.

Longyuan Power (00916.HK) reported first-half 2026 operating revenue of RMB 14.64 billion (approximately $462.4 million), down 6.5% year on year, while net profit attributable to equity holders fell 28.2% to RMB 2.53 billion (approximately $79.8 million); its board withheld an interim dividend. Wind revenue declined 9.9% to RMB 12.46 billion as utilization hours and average on-grid tariffs weakened, while solar revenue rose 20.4% to RMB 2.05 billion. Separately, Sungrow Power Supply (300274.SZ) reported revenue of RMB 30.91 billion (approximately $4.6 billion), down 28.99%, and net profit attributable to parent-company owners of RMB 5.26 billion (approximately $782.5 million), down 32.01%, but proposed an interim cash dividend of RMB 6.4 for every 10 shares. Sungrow’s gross margin increased to 35.92% and operating cash flow rose 8.75% to RMB 3.73 billion, although higher foreign-exchange losses linked to euro and dollar depreciation intensified earnings pressure.

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