Dynagreen Environmental Protection Group (1330) H2 2025 earnings summary

Executive summary

• Achieved steady growth in revenue and net profit attributable to shareholders, with improved operating cash flow year-over-year for 2025.

• Treated 14.73 million tons of municipal waste, generated 4.36 billion kWh of green electricity, and nearly doubled steam supply, marking a shift toward integrated energy services.

• Expanded diversified businesses, including heat/steam supply and sludge disposal, and advanced digital transformation and technological innovation.

• Maintained a broad market layout across China and made progress in overseas expansion, including strategic cooperation in Hong Kong and Southeast Asia.

• Proposed a final cash dividend of RMB0.22 per share, with total dividends for 2025 accounting for 73.53% of net profit.

Financial highlights

• Revenue reached RMB3.53 billion, up 3.97% year-over-year; net profit attributable to shareholders was RMB617.5 million, up 5.54%.

• Gross profit margin increased to 46.67% from 45.44% in 2024.

• Net cash flows from operating activities rose 28.32% to RMB1.85 billion.

• Total assets stood at RMB21.93 billion; net assets attributable to shareholders were RMB8.27 billion.

• Basic EPS was RMB0.44, and weighted average ROE was 7.53%.

Outlook and guidance

• Industry is shifting from scale expansion to quality and efficiency improvement, with focus on refined operation and technological innovation.

• Company aims to strengthen core waste-to-energy business, expand non-electric businesses, and accelerate digital transformation and overseas market development.

• Performance targets for equity incentive unlocking include net profit growth, ROE, cash flow, and digital project expansion for 2026–2028.