Concord New Energy (00182) has unveiled its interim results for 2026, reporting revenue of roughly RMB 1.258 billion and gross profit of about RMB 584 million, with profit attributable to shareholders of the company reaching approximately RMB 100 million. During the reporting period, the group achieved fresh milestones in its development segment, marked by notable success in operational partnerships across China, the smooth commissioning of power generation projects in Singapore and New Zealand, and the transition of its first renewable energy private equity fund into post-investment management. Asset optimization has progressed steadily, while cost reduction and efficiency enhancement measures have delivered tangible outcomes, with both administrative expenses and financing costs trimmed further—a testament to the group's strategic transformation gaining traction in recent years.

Where to begin? The group has astutely seized the surging electricity demand spurred by rapid global AI investment, proactively positioning itself in regions such as the United States, Southeast Asia, and Eastern Europe to develop AIDC projects alongside supporting integrated energy solutions, with overall progress currently on track. Tailoring its approach to the distinctive energy profiles of AIDC—characterized by high consumption density, stringent power quality requirements, and swift construction timelines—the group has devised bespoke clean power supply plans, committed to delivering long-term, stable, and cost-competitive green electricity. This initiative aims to deeply embed renewable energy and energy storage projects into the AIDC infrastructure ecosystem, and on this foundation, the group's innovative energy solutions business tailored for AIDC is gradually taking shape.

Why focus on these moves? Building on multiple photovoltaic projects with long-term power purchase agreements already in place, the group is actively driving a new batch of renewable energy projects in mature markets marked by rapid electricity load growth and robust green power demand to secure additional long-term PPAs. This strategy bolsters the profitability certainty and bankability of these projects, further stockpiling resources for optimizing the asset portfolio and achieving performance growth. Through varied models of operational partnership development, the group is accelerating the conversion of projects with secured quotas in China, having signed operational development agreements for a combined installed capacity of 1,070 MW during the period, while grid connection and other pre-construction conditions for additional projects are being methodically fulfilled.

On the financing front, the group continues to deepen collaboration with multiple global financial institutions, enhancing its credit ratings, expanding credit facilities, and refining cash management and cross-border financial services strategies. Solar projects in South Korea and New Zealand have achieved financial close, while financing for several photovoltaic and energy storage projects in the United States and Singapore is being advanced in an orderly manner. Domestically in China, the group is capitalizing on a favorable financing environment to execute debt replacement and optimization through multiple channels and models, reducing comprehensive financing costs, adjusting repayment schedules, and improving project cash flows. As of June 2026, the group's blended financing rate was further reduced by 8 basis points from the end of 2025 to 3.43%, marking the first time it has dipped below the five-year-plus LPR in China, which stands at 3.50%.