"Profit Warning" CONCORD NE expects profit to decline, with a maximum profit of 285 million RMB in half a year

CONCORD NE (00182.HK) issued a profit warning, expecting a profit of between RMB 255 million and RMB 285 million for the six months ending in June, compared to a profit of RMB 501 million in the same period last year. The decline in profit is mainly due to an increase in the abandonment rate of wind and solar energy in certain regions of mainland China, a decrease in the average comprehensive electricity price, leading to a decline in the gross profit margin of electricity sales; and a significant non-recurring income from the reversal of RMB 90 million in historically overpaid dividend withholding tax in the same period last year