Shennan Electric A said its A-share stock deviated by more than 20% over two consecutive trading days, triggering an abnormal trading alert. According to 36Kr, the company said its main businesses are power generation and sales and integrated energy services. In 2025, power generation and sales accounted for 69.58% of revenue, while independent energy storage projects made up 14.85%. The company said operations remain normal and there have been no major changes in its core business or operating environment. It added that it faces significant operating pressure in 2026 because of high fuel costs, less efficient gas-fired units and intense power market competition. Shennan Electric A also said higher temperatures and rising electricity load may support short-term power demand, but results remain subject to shifts in supply and demand, electricity price policy changes and fuel cost volatility.