Mindong Electric Power, which had surged more than 100 percent over 10 trading days, hit the daily limit-down in early trading on September 23. The company said in an announcement on the evening of September 22 that its share price had risen more than most companies in the industry over the short term, and that after excluding overall market and sector factors, the actual volatility was relatively large. The share price is currently at a historical high with a high turnover rate, and the company solemnly reminds investors to fully understand the risks of secondary-market trading. The company also clarified that it has not carried out computing-power coordination, direct green power connection, or smart grid businesses, and has no cooperation with computing power centers or data centers. Its virtual power plant business is still in the early cultivation stage and has not yet achieved formal commercial operation, with no substantial revenue or profit, and is expected to generate no benefits in 2026. The offshore wind power projects in which it has taken equity stakes are all in a state of not yet started construction or not yet put into production, have not yet generated revenue, and are expected to generate no benefits in 2026. The semi-annual report shows that in the first half of 2026, the company achieved operating revenue of 237 million yuan, down 17.65 percent year on year; net profit attributable to shareholders of the listed company was 29 million yuan, down 58.68 percent year on year; and net profit after deducting non-recurring gains and losses was 22 million yuan, down 64.48 percent year on year.
Fujian MinDong Electric Power Co LtdCompany clarified it has no computing-power, green power, or smart grid business, and its virtual power plant and offshore wind stakes are pre-revenue with no 2026 benefit, while H1 2026 revenue fell 17.65% and net profit dropped 58.68%.
