China Longyuan Power Group (916) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB8,140 million, up 0.92% year-over-year from continuing operations.

• Net profit attributable to equity holders was RMB1,977 million, down 21.82% year-over-year.

• Wind power revenue decreased 1.89% year-over-year, while PV power revenue surged 43.09%.

Financial highlights

• Operating profit for Q1 2025 was RMB3,635 million, down from RMB4,124 million in Q1 2024.

• Profit before taxation was RMB2,857 million, compared to RMB3,251 million a year earlier.

• Net finance expenses decreased to RMB825 million from RMB879 million year-over-year.

• Other net income increased to RMB305 million from RMB273 million year-over-year.

Outlook and guidance

• Wind power generation increased 4.37% year-over-year, while PV power generation rose 55.65%.

• Average wind power utilization hours fell by 55 hours due to lower wind resources in key regions.