Diversified Business Expansion: Jiazhe New Energy Achieves Double Growth in Revenue and Net Profit by 2025

Source: Shanghai Securities News · China Securities Network

SSE Securities News, China Securities Network reported on March 28 that Jaze New Energy released its annual report. In 2025, the company achieved operating revenue of RMB 2.499 billion, up 3.2% year over year; net profit of RMB 714 million, up 13.35% year over year; and operating cash flow of RMB 2.75 billion, up 53.97% year over year. The company plans to distribute 10 shares for every 0.2 yuan (including tax).

According to the disclosure, starting from the second half of 2025, the company’s new-energy power stations have fully participated in market-based trading, directly connecting to market price signals. In 2025, the development–construction–operation–sale business of the company’s new-energy power stations remains the company’s main source of revenue; revenue from this segment was RMB 2.331 billion, up 2.2% year over year.

The company’s distributed photovoltaics business focuses on economically developed regions in central and eastern China as key markets. It adopts an operating model of “self-generation and self-use, with surplus electricity fed into the grid,” enabling a rapid entry of the distributed photovoltaics business from point to area. By doing so, it has quickly established layouts in load-center regions such as “Beijing-Tianjin-Hebei,” “Eyu-Wan-Anhui” and the “Pearl River Delta region,” among others. In 2025, revenue from the rooftop distributed photovoltaics business was RMB 90.3032 million, up 37.04% year over year;

The company’s new-energy power station operation and maintenance (O&M) management services focus on the post-service market for power stations, providing new-energy power generation enterprises with various service options such as safe and reliable production and O&M, electricity trading (power sales), green power trading, carbon asset trading, and integrated energy management. In 2025, revenue from the new-energy power station operation and maintenance management services was RMB 66.2627 million, up 7.36% year over year.

At present, the company’s business and project development and construction coverage extends to 23 provinces and municipalities, forming a nationwide business layout centered on the Ningxia region, with other regions jointly developing. In 2025, the company saw significant revenue growth in three regions: South China, Southwest China, and North China, reaching 41.87%, 39.57%, and 27.74%, respectively.

The annual report also disclosed that the company, through a cooperative development model, is promoting the construction of an industrial park for new-energy equipment manufacturing. The company, together with CRRC (China CNR Corporation), invested in and built the CRRC Jaze New Energy equipment manufacturing base in Jixi City, Heilongjiang Province; the Jiguanqu Jaze digital energy storage battery manufacturing park in Jiguang District; and, together with Goldwind Technology, invested in and built the Liuzhou North Eco New Area zero-carbon new-energy smart equipment industrial park in Liuzhou City, Guangxi Province—each of which has already been put into operation and started production. (Chen Guoqing)

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