Guanghui Energy (600256) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 was RMB 17.25 billion, down 50.84% year-over-year; net profit attributable to shareholders was RMB 1.46 billion, down 64.70% year-over-year.

• Operating cash flow was RMB 2.63 billion, down 42.70% year-over-year.

• Total assets at period end were RMB 55.22 billion, down 5.70% from the previous year-end.

• The company continues to focus on LNG, coal, and coal chemical integration, with strategic emphasis on green energy, CCUS, and hydrogen.

• No interim dividend or capital increase from reserves was proposed for the half-year period.

Financial highlights

• Revenue: RMB 17.25 billion, down 50.84% year-over-year.

• Net profit attributable to shareholders: RMB 1.46 billion, down 64.70% year-over-year.

• Operating cash flow: RMB 2.63 billion, down 42.70% year-over-year.

• Basic and diluted EPS: RMB 0.2216, down 64.70% year-over-year.

• Net assets attributable to shareholders: RMB 25.92 billion, down 10.52% from year-end.

Outlook and guidance

• The company is accelerating its transition to green energy, focusing on hydrogen, CCUS, and modern coal chemical projects.

• Plans to leverage resource advantages in Xinjiang and Central Asia, and expand market share through differentiated competition.

• Ongoing development of large-scale CCUS-EOR and green hydrogen demonstration projects.