Dynagreen Environmental Protection Group (1330) Q3 2025 earnings summary

Executive summary

• Revenue for the first three quarters of 2025 reached RMB 2.58 billion, up 1.49% year-over-year.

• Net profit attributable to shareholders rose 24.39% year-over-year to RMB 626.48 million.

• Operating profit for the period was RMB 797.22 million, a 22.98% increase year-over-year.

• Significant improvement in operating cash flow, up 25.46% year-over-year to RMB 1.32 billion.

• Waste input, electricity generation, and steam supply volumes all increased, with steam supply up 111.91% year-over-year.

Financial highlights

• Total assets as of 30 September 2025 were RMB 22.04 billion, up 0.24% from year-end 2024.

• Owners' equity attributable to shareholders increased 4.49% to RMB 8.41 billion.

• Basic earnings per share for the first three quarters was RMB 0.45, up 25% year-over-year.

• Net cash flows from operating activities for the period were RMB 1.32 billion, up 25.46% year-over-year.

• Net cash flows from investing and financing activities were negative, reflecting ongoing capital expenditures and debt repayments.

Outlook and guidance

• Management attributes profit growth to quality improvement, cost reduction, and efficiency enhancement.

• Increased collection of accounts receivable from national subsidies and higher cash receipts from sales supported cash flow growth.