Shenzhen Energy Group (000027) Q3 2026 earnings summary

Executive summary

• Q3 revenue was ¥12.45bn, up 10.13% YoY; net profit attributable to shareholders was ¥307.5m, up 18.45% YoY. YTD revenue reached ¥34.19bn, up 5.39%, and attributable net profit was ¥2.21bn, up 12.51%.

• YTD generation output rose 1.22% YoY, while waste processing increased 14.13%; gas sales volume declined 8.76%.

Financial highlights

• YTD operating revenue was ¥34.19bn versus ¥32.44bn; operating costs were ¥30.55bn versus ¥28.81bn.

• YTD net profit was ¥3.22bn; net profit attributable to shareholders was ¥2.21bn, versus ¥1.96bn in the prior-year period.

• Adjusted attributable net profit, excluding non-recurring items, was ¥321.0m in Q3 and ¥2.15bn YTD; non-recurring items totaled -¥13.5m and +¥60.1m, respectively.

Segment performance

• YTD electricity delivered to the grid was 49.575bn kWh, up 1.22% YoY: coal +3.96%, gas -3.69%, wind -6.57%, solar +11.95%, hydro +11.31%, and waste-to-energy +6.53%.

• YTD waste processed was 12.7165m tonnes, up 14.13% YoY; natural gas sales were 2.928bn m³, down 8.76%.

• Controlled generation capacity was 27.3131GW at September-end, including 10.2193GW gas, 6.679GW coal, 4.5004GW wind, and 3.6939GW solar.