Jiangsu Xukuang Energy Co., Ltd. reported a 42.89% year-on-year decline in net profit attributable to shareholders for the first half of 2026, despite a 29.81% rise in operating revenue.

The company posted operating revenue of 7.24 billion yuan ($1.08 billion)  in January-June, with net profit attributable to shareholders at 53.22 million yuan. Basic earnings per share stood at 0.0077 yuan.

The revenue increase was primarily driven by the commissioning of subsidiary Xukuang Xidian and higher coal prices, the company said in its interim report. Commercial coal output and sales, along with power generation and sales, all posted year-on-year growth during the period, with power business gross profit surging 163.45% year on year.

On the coal front, the Jiangsu-based energy company has an approved production capacity of 17.80 million tonnes per annum (Mtpa), with resources at its mining areas exceeding 2 billion tonnes. Nearly 90% of its capacity is located in western coal-rich regions including Xinjiang, Shaanxi and Gansu.

Commercial coal output reached 9.07 million tonnes in the first half, up 7.17% year on year, while sales rose 10.14% to 9.01 million tonnes. Revenue from the coal segment increased 18.92% to 3.26 billion yuan. Shaanxi Guojihe Coal contributed net profit of 300 million yuan during the period.

In the power segment, total installed capacity reached 5,347.84 MW by end-June, comprising 4,700 MW of thermal power and 647.84 MW of new energy capacity. Power generation surged 75.87% year on year to 94.30 TWh, with electricity sales up 75.20% at 89.59 TWh. Segment revenue climbed 59.68% to 3.24 billion yuan, with gross profit up 163.45% to 303 million yuan.

The commissioning of the Xukuang Xidian Wulagai 2x1,000 MW ultra-supercritical units became the core growth driver for the power segment during the reporting period.

The company's Xukuang Baiyinhua 2x660 MW ultra-supercritical unit project, a key supporting power source for the "Xilingol-Taizhou" ±800 kV ultra-high-voltage direct current transmission line, was over 74% complete by end-July. The project is scheduled for commissioning by end-2026, which will further expand the company's thermal power capacity.

In new energy, the Xukuang Zhengxiang 320 MW wind power project has entered peak construction, while the Shaanxi Linyou agrivoltaic project and the Cacheng mining subsidence area 100 MW solar project have been connected to the grid. The company's energy storage capacity, including operational and under-construction projects, totals 360 MW.

As of end-June, the company had 1,797.5 MW of power capacity under construction, including 1,320 MW of thermal and 477.5 MW of new energy capacity.

Looking ahead, the company said it will ensure stable coal supply, reliable power plant operations and the commissioning of the Baiyinhua project by year-end, while accelerating green transition and technology integration during the 15th "Five-Year Plan" period.