Xiehe New Energy (0182.HK, SGX.SI ) In 2025, revenue reached 2.544 billion yuan, with breakthroughs in international business development.

Xiehe New Energy announced its full-year results for 2025. During the period, the group’s continuing operations achieved revenue of 2.544 billion yuan (RMB, the same below), and the profit attributable to equity holders of the group was 140 million yuan; basic earnings per share were 1.78 cents. As of December 31, 2025, the group’s net asset value reached 8.652 billion yuan, with net asset value per share at 1.08 yuan.

In 2025, significant progress was made in the development of international business, with a total of 502 MW projects completing grid connection agreements and long-term power purchase agreements. This includes signing long-term power supply agreements for three major photovoltaic projects in the United States totaling 469 MW (660 MW DC) in collaboration with leading global technology companies, precisely matching the green electricity demand of data centers. Additionally, agreements for 33 MW photovoltaic projects in South Korea, New Zealand, and Singapore were successfully established, locking in electricity prices with long-term contracts to avoid market fluctuations. Furthermore, grid connection agreements for 394 MW photovoltaic and 299 MW energy storage projects in the U.S. market were signed, continuously increasing high-quality reserves.

During the period, the group deepened cost reduction and efficiency enhancement by shutting down inefficient regional businesses and institutions, streamlining personnel, and reducing employees by 31% year-on-year. Coupled with strict expense control and senior management leading salary reductions, management expenses decreased by approximately 20% year-on-year. On the financing side, the group seized the interest rate cut window to refinance low-interest loans and optimize the debt structure, bringing the overall financing cost down to 3.51% during the period, a decrease of 47 basis points, alleviating financial pressure and continuously optimizing cash flow and asset structure.

Looking ahead, the group is confident in the development prospects of renewable energy and will firmly execute its established development strategy, placing greater emphasis on the quality of development and striving to create long-term, sustainable investment returns for shareholders.