CONCORD NE's net profit fell 83% to 25.97 million yuan last year | Lianhe Zaobao
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Concord New Energy's net profit last year plummeted nearly 83% year-on-year, falling to RMB 139.72 million (approximately SGD 25.97 million), with revenue decreasing by 7% to RMB 2.54401 billion. The company plans to distribute a final dividend of HKD 0.003 per share, expected to be paid out in June this year. Despite a reduction in financing costs, net profit has significantly declined due to intensified power restrictions and falling electricity prices. The company anticipates that the industry environment remains challenging, and future performance is expected to be under pressure
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