Energy CostsGas earnings disappointed due to one-off gas curtailment earnings in the prior year, renewal of contracts at lower spreads, and higher cost Malaysian imported energy.
EPS ReductionThere is a reduction in EPS estimates for FY25F-27F by 3-10% due to tempered profit expectations in the renewable energy segment.
Renewable Energy ChallengesRenewable energy curtailment remains high in China, affecting a significant portion of SCI's renewable capacity.