Gannan Energy Holdings with 2 consecutive limit-ups: Coal-fired power accounts for approximately 86.39% of total installed capacity; downward pressure on electricity prices from coal-fired power continues to intensify

Gelonghui, February 26 — Ganneng Co., Ltd. (000899.SZ) issued a trading abnormality announcement. As of February 26, 2026, the company’s main businesses are thermal power generation, hydropower, and new energy power generation. The company’s total installed capacity for operational controlling holdings is 6,250.51 MW, of which thermal power capacity is 5,400 MW, accounting for approximately 86.39% of the company’s total installed capacity. The disclosed operating conditions and internal and external business environments have not undergone significant changes, and internal production and operational activities are proceeding normally. However, with the deepening construction of new power systems, the continuous trial operation of Jiangxi’s spot electricity market, and the addition of new thermal power units in Jiangxi Province gradually coming online, the utilization hours of thermal power have decreased. The downward pressure on thermal power energy prices continues to strengthen, and the profitability of thermal power companies faces challenges.