China Everbright Greentech (1257) H1 2026 earnings summary

Executive summary

• Revenue for the first half of 2026 rose 3% year-over-year to HK$3,492 million, with EBITDA up 7% to HK$1,039 million and profit attributable to equity shareholders up 2% to HK$256 million.

• Basic EPS grew 2% to 9.46 HK cents.

• Interim dividend per share increased to 2.9 HK cents, with a payout ratio of 30.67%.

• Business growth was driven by the heat supply segment and steady clean energy revenue, despite competitive and policy pressures in hazardous and solid waste treatment.

Financial highlights

• Total assets as of June 2026 reached HK$35,572 million, up 3% from December 2025.

• Net assets increased to HK$13,779.1 million, with net asset value per share up 10% to HK$5.08.

• Gearing ratio improved to 61.26%, and current ratio was 124.63%.

• Cash and bank balances stood at HK$2,270.3 million; available cash and unutilised bank loan facilities totaled HK$9,314.4 million.

• Finance costs reached a historic low, with a 75 basis point reduction in effective interest rate since 2024.

Outlook and guidance

• Focus on accelerating low-carbon transition, expanding heat supply, and developing new energy and storage projects.

• Strategic emphasis on strengthening biomass operations and scaling new energy (wind, solar, storage) and B2B asset-light businesses.

• Targeting B2B business to contribute at least 30% of profit by 2030.

• Confident in achieving 2026 targets and supporting high-quality, sustainable growth under the 15th Five-Year Plan.