On May 15, 2025, Crystal Energy released its financial report for the first quarter, revealing a significant drop in revenue. The report highlighted that the company’s total revenue for the quarter was 138.43 billion yuan, a decrease of 40.03% compared to the same period last year. Meanwhile, the company’s net profit fell to 13.9 billion yuan, marking a 218.2% decline year-on-year.
This performance represents the first quarter of significant revenue loss for Crystal Energy in over a decade and reflects broader challenges in the renewable energy market, including fluctuating prices and regulatory changes. As of now, the company has a total debt of 348 billion yuan. Looking ahead, it expects its revenue to decline further, potentially reaching 138.43 billion yuan in 2025, with net profit projections indicating a drop to 13.90 billion yuan.
In its financial outlook, Crystal Energy anticipates its assets to decline, with the revenue from core operations projected to decrease by 21.86 billion yuan in 2024 and by 4.85 billion yuan in the first quarter of 2025. The report indicates that the company is facing significant market pressures, with continued declines expected unless there is a recovery in market conditions.
Despite these challenges, Crystal Energy is committed to expanding its operational capacity. The company plans to enhance its production capabilities through various construction projects, including the establishment of new power plants and infrastructure improvements. The goal is to increase its annual production capacity to 56 GW by 2025, although recent setbacks in project timelines have raised concerns about meeting these targets.
Overall, while Crystal Energy is navigating a difficult landscape, it remains focused on adapting its strategies to the changing market dynamics. Investors and stakeholders are encouraged to monitor the company’s progress and responses to these ongoing challenges.
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