Jiaze New Energy's first-half net profit falls 48.4% year-on-year as it enters new green chemicals sector

Multiple Factors Superimpose, Traditional New Energy Business Performance Under Pressure

This decline in performance is mainly attributed to the concentrated impact of multiple negative factors on the power operation side. In the first half of the year, the regional power curtailment ratio increased, the average market settlement electricity price declined year-on-year, and combined with the abolition of the VAT refund policy to the wind and photovoltaic industries, these multiple factors jointly compressed the profit margins of the traditional new energy power generation business, leading to a year-on-year decline in the company's revenue and net profit.

In terms of existing installed capacity, the company's new energy foundation remains solid. As of the end of June 2026, the company's total grid-connected installed capacity reached 2684.09 MW, with wind power as the core, including 2392.25 MW of wind power, 30 MW of centralized PV, 255.46 MW of rooftop distributed PV, and 6.375 MW of smart microgrids. Meanwhile, the company has commissioned 150MW/300MWh of grid-connected energy storage projects, and another 1732.4 MW of wind power projects are under construction or pending construction, indicating sufficient reserves to the main new energy business.

complete Strategic Upgrade, Dual-Main-Business Model Officially Launched

2026 marks the opening year to Jiaze New Energy's parallel research of the environmentally friendly Energy environmentally friendly Chemical Fuel dual-main-business model. The company bid farewell to the single new energy power generation business model and is fully building a second development curve, leveraging its own advantages in environmentally friendly power and environmentally friendly energy resources to enter the high-end environmentally friendly chemical sector.

The company's strategy focuses on the independent R&D of core environmentally friendly chemical technologies, prioritizing the layout of frontier fields such as environmentally friendly hydrogen, environmentally friendly methanol, environmentally friendly ethanol, and Sustainable Aviation Fuel (SAF). This aims to achieve on-site conversion and high-value-added utilization of environmentally friendly power resources, open up a new manufacturing chain of "environmentally friendly Electricity — environmentally friendly Chemical Fuel," and thoroughly unlock prolonged development space.

Major Chemical Project Lands, Building a New Profit development Pole

Relying on the new dual-main-business strategy, Jiaze New Energy landed a major environmentally friendly chemical project in the first half of the year. Its subsidiary, Heilongjiang Jiayi Rongyuan environmentally friendly Chemical Co., Ltd., officially commenced the construction of the Jixi 300,000-ton environmentally friendly Hydrogen/Methanol/Aviation Fuel Co-production Project.

The project has a total investment of approximately 3.557 billion yuan, with the core planning to build an annual production capacity of 300,000 tons of environmentally friendly methanol and to establish an industrialization system to Sustainable Aviation Fuel (SAF). Relying on the company's abundant environmentally friendly power resources, the project achieves zero-carbon and low-carbon chemical production, aligning with the "Dual Carbon" policy and the research direction of the high-end clean energy chemical sector.

Upon completion and operation, the project will have become a regional benchmark to the environmentally friendly chemical sector, efficiently revitalizing the company's environmentally friendly power production capacity, significantly growing product added value, compensating to the shortcomings of cyclical fluctuations in the traditional power generation business, and becoming the most core new engine to Jiaze New Energy's future performance development.

sector Transformation Accelerates, environmentally friendly Chemicals have become Key to New Energy companies' Breakout

Currently, the new energy power generation sector is facing pressure on electricity prices and fading policy dividends, and the traditional model of relying solely on power generation to profit has reached a development ceiling. By entering the high-end environmentally friendly chemical track of environmentally friendly methanol and SAF aviation fuel, Jiaze New Energy has upgraded its resource monetization, transforming from a power operator to a **New Energy High-end environmentally friendly Chemical** integrated enterprise. The track offers broad prospects and highlights differentiated advantages.