Dynagreen Environmental Protection Group (1330) H1 2025 earnings summary

Executive summary

• Revenue for January–June 2025 was RMB1.684 billion, up 1.41% year-over-year; net profit attributable to shareholders rose 24.49% to RMB377 million.

• Treated 7.15 million tons of municipal waste (+2.10% YoY), generated 2.54 billion kWh electricity (+1.62% YoY), and supplied 513,800 tons of steam (+114.98% YoY).

• Strengthened digitalization, technological innovation, and expanded non-electricity businesses to offset subsidy reductions.

• No major safety or environmental incidents occurred during the period.

Financial highlights

• Gross profit increased 12.54% to RMB834 million; gross margin improved to 49.53% from 44.63% year-over-year.

• Basic EPS was RMB0.27, up 22.73% year-over-year; diluted EPS was RMB0.26, up 23.81%.

• Net cash from operating activities rose 16.36% to RMB632 million.

• Gearing ratio improved to 60.82% from 61.21% at year-end 2024.

• Net assets attributable to shareholders reached RMB8.16 billion; total assets stood at RMB21.96 billion.

Outlook and guidance

• Focus remains on core waste-to-energy business, with plans to expand investment, M&A, and overseas projects.

• Company will leverage Green Certificate trading and direct green power supply to offset the phase-out of National Subsidies.

• Emphasis on quality improvement, cost reduction, and efficiency enhancement to achieve high-quality growth.

• Plans to accelerate the second phase of Guangyuan Project and maintain high-quality growth into the next five-year plan.