On April 29, 2025, China Energy (688599.SH) released its annual performance report for 2024 and its quarterly report for the first quarter of 2025. According to the financial results, China Energy reported a revenue of 802.82 billion yuan for 2024, which marks a decrease of 29.20% year-on-year. The net profit attributable to shareholders was -34.43 billion yuan, reflecting a significant decline of 162.25%. For the first quarter of 2025, the net profit attributable to shareholders stood at -13.2 billion yuan.
According to the company’s representatives, this year’s focus is on the application of energy storage in the gaming sector. In early 2025, China Energy plans to launch a new product line that targets the energy storage market, aiming to enhance its offerings to meet the increasing demand for energy storage solutions.
In 2024, the company aims to achieve a revenue target of 200 billion yuan, which would be approximately 25% of the total projected revenue, with a notable increase in profits compared to previous years. In February of this year, the National Development and Reform Commission and the National Energy Administration issued guidelines aimed at enhancing the development of renewable energy resources, including energy storage technologies.
In this context, China Energy is expected to address the requirements set forth in the 136 Document, focusing primarily on the development of power plants and energy solutions. This document emphasizes the need for flexibility in energy supply, enhancing the efficiency of energy generation and distribution.
For the first quarter of 2024, China Energy reported a substantial increase in energy output, with total energy production reaching 27.5 GW for its solar power plants and 59.4 GW for its energy storage units. This growth is attributed to the improved efficiency and technological advancements within the company’s operations.
Furthermore, the company anticipates a significant increase in its energy output for 2025, with projections indicating a target of 35 GW for its solar power projects. However, the release of new projects may face delays due to market fluctuations and regulatory adjustments.
In summary, China Energy is positioning itself to leverage advancements in energy storage and renewable resources to fulfill the increasing energy demands while navigating the complexities of market regulations and technological developments.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/chinas-energy-sector-focuses-on-gaming-applications-ahead-of-2025s-market-expansion/
