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Grandblue Environment (600323) investor relations material
Grandblue Environment Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved revenue of RMB 3.66 billion in Q1 2026, up 40.60% year-over-year, mainly due to the consolidation of Yuefeng Environmental and growth in core operations.
Net profit attributable to shareholders rose 37.83% year-over-year to RMB 579 million, with EBITDA at RMB 1.64 billion and an EBITDA margin of 44.96%.
Maintained strategic focus on core business, cost reduction, efficiency gains, and accelerated M&A integration amid challenging macro and industry conditions.
Financial highlights
Operating income increased by RMB 1.06 billion year-over-year, with Yuefeng Environmental contributing RMB 1.03 billion.
Total profit reached RMB 901 million, up 68.78% year-over-year.
Net cash flow from operating activities was RMB 486 million, down 18.45% year-over-year due to higher tax payments and lower collections.
Basic and diluted EPS were RMB 0.71, up 36.54% year-over-year.
Total assets stood at RMB 62.24 billion at quarter-end, up 0.03% from year-end 2025.
Outlook and guidance
Continued focus on core business development, cost control, and operational efficiency to sustain growth.
Ongoing integration of Yuefeng Environmental expected to further enhance profitability and scale.
- Revenue and profit surged on acquisition and solid waste growth; payout ratio reached 43.39%.600323
H2 202524 Apr 2026 - Net profit up 8.99% to ¥966.86M, with major scale boost from Canvest acquisition.600323
Q2 202522 Dec 2025 - Net profit up 16.39% to ¥1.66B despite revenue drop, with strong cash flow and higher dividends.600323
H2 202422 Dec 2025 - Strong profit and cash flow growth fueled by major acquisition and robust waste operations.600323
Q3 202529 Oct 2025 - Net profit surged 18.82% year-over-year despite lower revenue, with strong margin gains.600323
Q3 2024 TU13 Jun 2025 - Net profit jumped 28.59% to ¥887 million in H1 2024, with strong cash flow growth.600323
H1 202413 Jun 2025 - Net profit up 10.26% in Q1 2025 despite revenue decline, driven by margin improvement.600323
Q1 20256 Jun 2025
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