Shenergy Company (600642) H2 2025 earnings summary

Executive summary

• Achieved net profit attributable to shareholders of RMB 4.01 billion, up 1.75% year-over-year, with revenue of RMB 28.03 billion, down 5.37% year-over-year.

• Basic EPS was RMB 0.805, and ROE was 10.79%.

• Clean energy installed capacity reached 8.836 GW, accounting for 42.8% of total controlled capacity.

• Significant progress in green transformation, with major new wind and solar projects commissioned.

• Board proposes a cash dividend of RMB 4.60 per 10 shares, totaling RMB 2.25 billion.

Financial highlights

• Operating income: RMB 28.03 billion, down 5.37% year-over-year.

• Net profit attributable to shareholders: RMB 4.01 billion, up 1.75% year-over-year.

• Net cash flow from operating activities: RMB 8.70 billion, up 21.38% year-over-year.

• Gross margin improved to 22.52%, up 2.97 percentage points.

• Major non-recurring gains: RMB 450.75 million, mainly from fair value changes and government subsidies.

Outlook and guidance

• Focus on accelerating green and low-carbon transformation, expanding large-scale renewable projects.

• Plans to maintain leadership in Shanghai's energy security and expand nationwide renewable footprint.

• Continued cost control, digital transformation, and innovation in new energy technologies.

• Identified risks include power market volatility, fuel price fluctuations, and stricter environmental policies.