In the first half of 2026, net profit at China Longyuan, China Three Gorges Renewables, and Datang Renewable fell 28%, 68%, and 59% year over year, respectively.
Longyuan is one of the main beneficiaries of China’s ambitious renewable targets, and the firm is poised to post strong renewable power capacity growth.
Bears
Increasing contribution from grid-parity projects will lower Longyuan’s future returns.
Longyuan is China’s largest wind power operator, with consolidated installed wind capacity of 32.1 gigawatts as of end-2025. Its wind farms are widely distributed across China, and the company has also expanded overseas, including projects in Canada and South Africa. In addition to wind, Longyuan owns renewable assets in solar and tidal energy. Wind accounts for about 70% of consolidated installed capacity, with the remainder from solar and other renewables. China Energy Investment—formed through the merger of China Guodian Corporation and China Shenhua Group—is the controlling shareholder with a stake of about 58.7%.