CONCORD NE announced its 2025 financial results, reporting revenue of approximately RMB 2.544 billion and a gross profit of about RMB 1.039 billion. Profit attributable to the company's shareholders was approximately RMB 140 million, with basic earnings per share of 1.78 cents. A final dividend of 0.3 HK cents per share was declared. Throughout the year, the group's equity-based installed capacity continued to grow. Initiatives to optimize business operations, positions, and staffing began to show results, leading to a further reduction in administrative expenses and financing costs. Net cash generated from operating activities increased compared to the previous year.
In 2025, the group achieved a breakthrough in international business development. During the year, a total of 502 MW of projects signed grid connection agreements and long-term power sales agreements. This includes three solar projects in the United States that entered into long-term power purchase agreements with leading global technology companies to supply power to their data centers, with a combined capacity of 469 MW. Additionally, three solar projects in South Korea, New Zealand, and Singapore also secured new power sales agreements, totaling 33 MW. These agreements lock in long-term electricity prices, mitigating market volatility risks and providing strong profit certainty.
Within China, the group focused on fulfilling pre-construction conditions for projects in 2025, accelerating the conversion of development achievements. During the reporting period, 360 MW of projects achieved early conversion. The group's total construction scale for 2025 was 2,011 MW. Newly operational projects contributed 391 MW of equity-based installed capacity, comprising 340 MW from wind power and 51 MW from solar power. The group also sold equity-based installed capacity of 78 MW from completed, operational projects.
In 2025, the group completed green electricity transactions totaling 1.253 billion kWh, a 54.5% increase year-on-year. Newly signed green certificate sales contracts for the full year amounted to RMB 38.8 million, which included long-term agreements with several globally renowned companies, effectively securing future revenue from green certificates.
As of December 31, 2025, the group held equity-based installed capacity of 4,928 MW from grid-connected wind and solar power plants, compared to 4,615 MW at the end of 2024. This capacity consists of 4,044 MW from wind power and 884 MW from solar power plants. Projects operating at grid parity accounted for 3,530 MW, representing 71.6% of the total equity-based installed capacity.
Advancing business globalization is a key strategic choice for the group in response to profound changes in China's new energy sector. Through sustained efforts in recent years, the group has achieved significant results in project development within mature international markets, built a substantial project pipeline with good profit certainty, and established a solid foundation for ongoing global expansion. In 2025, the group received approval for a secondary listing on the Mainboard of the Singapore Exchange and was officially listed on January 6, 2026, which is expected to further facilitate the advancement of its global business.
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