Yongtai Energy H1 Net Profit Falls 28.08% as Power Business Weakens

Yongtai Energy reported first-half 2026 revenue of 10.428 billion yuan, down 2.33% year on year, and net profit attributable to shareholders of 90.5614 million yuan, down 28.08%, according to Jiemian News. Profit before tax fell 20.97% to 296 million yuan, while non-GAAP net profit rose 5.38% to 105 million yuan; non-recurring losses totaled 14.4819 million yuan. The company said the decline was mainly due to pressure in its power business, where generation reached 17.122 billion kWh, electricity sales were 16.173 billion kWh, and revenue was 6.887 billion yuan. Yongtai Energy said higher fuel costs at its coal-fired plants, together with lower generation and lower on-grid tariffs, weighed on profit. Coal operations provided support, with self-produced commercial coal output of 5.7837 million tonnes, sales of 5.5353 million tonnes, and revenue of 3.094 billion yuan. The company also said it is accelerating construction of the Haizetan coal mine project, with the first mining face fully equipped by the end of June 2026 and full commissioning planned for next year.