On August 5, Lixin Energy released its semi-annual report for 2025. In the
first half of this year, Lixin Energy achieved a revenue of 496 million yuan, a year-on-year decrease of 6.02%; a net profit of 9 million yuan, a year-on-year decrease of 90.17%; a non-net profit of 4 million yuan, a year-on-year decrease of 95.40%.
As for the decline in profits in the semi-annual report, Lixin Energy said that the main reason was that the progress of subsidy verification for new energy power generation projects was affected, the project was included in the subsidy compliance list for a long time, and the payment of new energy power generation subsidy receivable was lagging behind, which led to the increase in the scale and age of the company's accounts receivable during the reporting period. Second, in the first half of the year, the Tianzhong DC transmission project, a subsidiary of the Company, had a 13-day power outage for the maintenance of outgoing lines and a load-limited operation for the maintenance of main transformers. The above-mentioned maintenance work of the State Grid was completed in October last year, resulting in a significant increase in the power curtailment rate of the above-mentioned projects as compared with the same period last year. The power generation revenue of the project decreased by 42.97 million yuan and the gross profit margin decreased by 6.32%.
As of June 30, Lixin Energy has 36 holding subsidiaries and 1 shareholding subsidiary; the installed capacity of power generation projects that have been put into operation is 2734MW (including independent energy storage ). The grid-connected installed capacity of wind power generation project is 1720.5MW; the grid-connected installed capacity of photovoltaic power generation project is 853.50MW ; and the grid-connected installed capacity of independent energy storage project is 160MW.
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