Shenergy Company (600642) H2 2024 earnings summary

Executive summary

• Achieved record revenue of ¥29.62 billion, up 1.64% year-over-year; net profit attributable to shareholders reached ¥3.94 billion, up 14.04% year-over-year, marking a historical high.

• Basic EPS was ¥0.803, up 13.10% year-over-year; weighted average ROE was 11.33%.

• Significant progress in large-scale and base-type renewable energy projects, with new energy installed capacity exceeding 6 GW and accounting for 34.1% of total capacity.

• Maintained robust cash flow from operations at ¥7.16 billion.

Financial highlights

• Revenue: ¥29.62 billion (+1.64% YoY); net profit attributable to shareholders: ¥3.94 billion (+14.04% YoY).

• Net assets attributable to shareholders: ¥37.77 billion (+12.61% YoY); total assets: ¥101.67 billion.

• Operating cash flow: ¥7.16 billion; basic EPS: ¥0.803; diluted EPS: ¥0.802.

• Gross margin improved in wind and gas power segments; wind power margin at 53.04%.

• Non-recurring profit items contributed ¥466 million, mainly from fair value changes and government subsidies.

Outlook and guidance

• Focus on high-quality growth, green transition, and digital transformation.

• Targeting further increases in renewable energy capacity and efficiency, with continued investment in large-scale wind, solar, and storage projects.

• Plans to optimize capital structure, expand financing channels, and control costs.

• Committed to maintaining stable dividend policy and enhancing shareholder returns.