China Everbright Greentech (1257) investor relations material

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; heat supply business emerged as a new growth engine, with steam sales up 19% and heat supply revenue up 16.7%.

• Net profit attributable to equity shareholders increased 2% year-over-year, and 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%.

• The Group continued to optimize its business structure, focusing on clean energy, regional management reforms, and digital empowerment.

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 rising 10% to HK$5.08.

• Gearing ratio improved to 61.26%, and current ratio decreased slightly to 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; finance costs decreased to HK$249.8 million from HK$294.3 million year-over-year.

• Operating cash flow hit a record high, driven by improved receivable collections and asset securitization.

Outlook and guidance

• Focus on expanding heat supply, accelerating zero-carbon industrial park and energy storage projects, and deepening regional management reforms.

• Strategic emphasis on clean energy, technological innovation, and asset-light business expansion, targeting a B2B profit contribution ratio of at least 30% by 2030.

• The Group is confident in achieving its 2026 targets and supporting high-quality, sustainable growth under the 15th Five-Year Plan.