BJ ENERGY INTL (00686) has announced that the group anticipates a comprehensive net loss of approximately RMB 70 million for the first half of 2026, with a comprehensive net loss attributable to equity holders of the company of about RMB 120 million. In contrast, the group reported a comprehensive net profit of RMB 293 million for the same period last year, with a comprehensive net profit attributable to equity holders of the company of RMB 173 million.

During the period, the group continued to focus on the development, construction, operation, and management of power stations and other clean energy projects. As of June 30, 2026, the group's total grid-connected installed capacity from beneficially owned power stations reached approximately 15 GW, representing an increase of about 9.5% compared to the total grid-connected installed capacity as of June 30, 2025. Power generation for the period increased by approximately 1% year-on-year.

The board believes that the expected comprehensive net loss and net loss attributable to equity holders of the company for the period, compared to the same period last year, are primarily due to: (1) China's overall weather conditions during the period, characterized by uneven spatial and temporal distribution of precipitation and frequent extreme weather, which led to a decline in wind and solar resources in the group's power generation project areas, impacting the group's power output; (2) the implementation of new electricity pricing policies, which has increased the proportion of market-based trading of on-grid electricity and heightened trading price volatility, collectively resulting in higher curtailment losses and reduced profitability per kilowatt-hour of on-grid electricity; and (3) the expansion of commissioned projects, which has increased operational and maintenance costs, as well as depreciation and amortization, further pressuring profits. These combined factors have led to the net loss for the period.