China Energy Engineering (3996) Q2 2025 earnings summary

Executive summary

• Operating income for H1 2025 reached RMB212.1 billion, up 9.18% year-over-year, with net profit attributable to shareholders at RMB2.80 billion, a 0.72% increase year-over-year.

• Strategic emerging industries contributed 37.3% of operating income, with rapid growth in new energy, energy storage, and hydrogen energy businesses.

• International business maintained double-digit growth, with newly signed overseas contracts up 13.74% year-over-year.

• Major technological and international project milestones were achieved, including the world's first 300MW compressed air energy storage project.

• Total profit increased by 5.49% year-over-year to RMB6.56 billion, and total assets grew 8.02% from the end of last year to RMB938.7 billion.

Financial highlights

• Total assets at June 30, 2025, were RMB938.7 billion, with net assets attributable to shareholders at RMB118.0 billion.

• Operating income rose 9.18% year-over-year; total profit increased 5.49% to RMB6.56 billion.

• Net cash flows from operating activities improved to -RMB13.4 billion from -RMB14.5 billion year-over-year.

• Basic and diluted EPS were RMB0.063, unchanged year-over-year; weighted average ROE was 2.41%.

• Gross margin for main businesses was 11.29%, down 0.90 percentage points year-over-year.

Outlook and guidance

• The company will focus on high-quality development, strategic emerging industries, and international expansion.

• Macro policy support and stable domestic economic growth are expected, but global economic uncertainty and supply chain pressures remain.

• Plans to further strengthen core businesses, accelerate new energy and digital transformation, and enhance risk management.