Jiangsu Xinneng (603693.SH) released semi-annual results, with net profit of 132 million yuan to mother, a year-on-year decrease of 53.14%

According to Zhitong Finance App News, Jiangsu Xinneng (603693.SH) disclosed its 2026 semi-annual report. During the reporting period, the company achieved operating income of 937 million yuan, a year-on-year decrease of 11.05%; net profit attributable to shareholders of listed companies was 132 million yuan, a year-on-year decrease of 53.14%; net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was 164 million yuan, a year-on-year decrease of 38.48%; and basic earnings per share were 0.15 yuan.

Explain the reasons for the change in performance: 1) Domestic wind resources in Jiangsu Province were weak year-on-year during the reporting period, compounded by the adverse effects of an increase in electricity limit rates and a slight decline in electricity prices; 2) Due to industry tax policy adjustments, onshore wind power projects will no longer enjoy the preferential policy of immediate VAT levy or 50% refund from November 2025; 3) The company's holding subsidiary was administratively punished during the reporting period.