Chenfeng Bets Big on Wind and Storage as Profit Rises but Cash Slips
1.18 Billion Yuan Wind Power Build-Out Chenfeng plans to spend 1.18 billion yuan on two wind farms in Inner Mongolia, using its own cash and bank loans. This expands its main renewable-energy business, which investors read as a long-term growth driver, though it also adds debt and construction risk.
It is the largest new capital commitment and directly expands the core business that is driving profit growth.
712 Million Yuan Energy Storage Contract Signed A Chenfeng-led group signed a 712 million yuan contract to build a large energy storage station. This locks in near-term revenue for its new-energy arm and shows the storage pipeline is turning into real orders, supporting the growth story.
It converts project plans into signed revenue, a concrete positive for the new-energy segment.
Profit Up 48% but Revenue and Cash Flow Weaken First-half net profit rose 48% to 20.53 million yuan, led by a 28% jump in new-energy revenue. But total revenue fell 10% and operating cash flow dropped 51%, and second-quarter profit fell 39% year on year, so the quality of the profit is mixed.
It is the period's key earnings update, showing both the growth engine and the underlying weakness.
Back Taxes and Late Fees Hit 2026 Profit Chenfeng must pay 5.22 million yuan in back taxes and late fees after a self-inspection, which will be charged against 2026 profit. The amount is small versus its 6.3 billion yuan market value, but it is a direct, one-off hit to earnings.
It is a new, concrete negative that reduces reported profit and reminds investors of compliance risk.