Zhongyu Energy (3633) H2 2025 earnings summary

Executive summary

• Turnover decreased by 7.6% year-over-year to HK$12.44 billion, mainly due to lower revenue from gas and smart energy segments.

• Profit attributable to owners surged 68.9% to HK$247.3 million, with basic EPS up 71% to HK8.98 cents.

• The company maintained stable city gas operations, expanded its biomass zero-carbon business, and enhanced digital and intelligent management.

• Final dividend proposed at HK3 cents per share, a 50% increase year-over-year.

Financial highlights

• Gross profit margin remained stable at 13.1%; sales of gas margin at 7.4%.

• Non-HKFRS EBITDA fell 8.1% to HK$1.58 billion.

• Net profit margin improved to 2.0% from 1.1% last year.

• Net gearing ratio rose to 1.46 from 1.35, with net debts at HK$12.14 billion.

• Current ratio declined to 0.5 from 0.7, reflecting increased short-term borrowings.

Outlook and guidance

• Plans to deepen city gas business, accelerate digital transformation, and scale up biomass zero-carbon projects.

• Focus on customer service, risk management, and green finance to support sustainable growth.

• Intends to leverage AI and digital tools for operational efficiency and customer experience.