Beijing Energy International Holding Co., Ltd. (BJ ENERGY INTL, 00686) announced that, based on unaudited management accounts for the year ended 31 December 2025, consolidated net profit is expected to drop to approximately RMB30.00 million, a 94.6% fall from the RMB557.00 million recorded in FY2024. The company also forecasts a consolidated net loss attributable to equity holders of about RMB140.00 million, reversing the prior year’s RMB86.00 million profit attributable to shareholders.

Operationally, the Group’s grid-connected installed capacity rose 13% year on year to roughly 15.29 GW as at 31 December 2025. Management expects revenue to increase by about 10%–11% over the same period.

Management cites two main factors for the sharp earnings deterioration: 1) Adverse market conditions that increased electricity curtailment losses and reduced average on-grid tariffs, compressing margin per kilowatt-hour; 2) Higher income-tax expenses stemming from new-energy tax policy adjustments and the expiry of certain project-level tax incentives.

The financial figures remain subject to audit and possible adjustment. The company plans to release its full FY2025 results by end-March 2026 and advises shareholders and potential investors to exercise caution when dealing in its shares.