SIIC Environment (BHK) H2 2025 earnings summary

Executive summary

• FY2025 revenue was RMB7,072.8m; net profit attributable to shareholders rose 0.9% YoY to RMB610.4m, with stable earnings and lower financial expenses.

• Operating cash flow improved sharply as receivables collection strengthened; 2026 priorities include M&A, industrial water, overseas expansion, and digital and operational upgrades.

Financial highlights

• Revenue was RMB7,072.8m, down 6.9% YoY; gross profit margin increased 0.3pp to 34.8%.

• Profit for the period was RMB967.3m, up 1.6% YoY; net profit attributable to shareholders was RMB610.4m, up 0.9%.

• EPS rose 0.9% YoY to RMB23.70 cents.

Outlook and guidance

• 2026 plans prioritize quality project deployment, market-based M&A, integration of similar businesses, and industry-chain synergies to expand scale.

• Plans include growth in industrial water, overseas opportunities using Hong Kong as a pivot, and formal operation of the Technology Center and Big Data Operations Management Center.

• Priorities include refined operations, digital and technology upgrades, receivables and compliance controls, and protecting cash-flow safety.