Envision Greenwise (1783) H1 2026 earnings summary

Executive summary

• Revenue surged 228.6% year-over-year to HK$815.5 million for the six months ended 30 September 2025, driven by strong growth in reverse supply chain management and environmental-related services.

• Gross profit increased 89.6% to HK$84.2 million, with a gross margin of 10.3%, down from 17.9% due to a shift in revenue mix.

• Net profit attributable to owners was HK$15.1 million, a turnaround from a HK$26.6 million loss in the prior year period.

• Adjusted EBITDA rose to HK$36.1 million from HK$15.9 million year-over-year, reflecting improved core operating performance.

• No interim dividend was declared for the period.

Financial highlights

• Revenue: HK$815.5 million (up from HK$248.2 million year-over-year).

• Gross profit: HK$84.2 million (up from HK$44.4 million year-over-year); gross margin: 10.3% (down from 17.9%).

• Net profit: HK$15.1 million (vs. loss of HK$26.6 million year-over-year).

• Basic and diluted EPS: HK0.55 cents (vs. loss per share HK1.06 cents year-over-year).

• Adjusted EBITDA: HK$36.1 million (up from HK$15.9 million year-over-year).

Outlook and guidance

• Management is optimistic about continued growth in reverse supply chain management and environmental-related services, supported by new projects and international collaborations.

• Expansion of global service network and new projects in Hong Kong and the US are expected to drive future growth.

• The first EV battery processing plant in Hong Kong is set to commence operations in the first half of 2026.

• Business scale expected to grow further, leveraging opportunities in green business and environmental protection.