SL Gemini Energy (2481) H1 2024 earnings summary

Executive summary

• H1 2024 revenue rose 17.3% YoY to RMB834.0m; profit attributable to owners increased 41.6% to RMB112.3m.

• Heat services remained the core business, supported by service-area expansion and higher engineering construction activity.

Financial highlights

• Revenue was RMB834.0m, up 17.3% YoY; gross profit increased 20.1% to RMB233.8m.

• Operating profit rose to RMB199.2m from RMB161.1m; profit for the period increased 36.5% to RMB154.7m.

• Profit attributable to owners was RMB112.3m, up 41.6%; basic and diluted EPS was RMB0.37 versus RMB0.35.

• Cost of sales rose 16.3% to RMB600.2m, mainly from higher heat procurement and construction costs.

Outlook and guidance

• H2 priorities include steady performance at existing projects, market expansion and advancing the digital heat-service platform, including customer systems, remote controls and data dashboards.

• The Heating Technology Center plans clean-energy heating collaboration with universities and research institutions, with technical input from subsidiaries.