Beijing Enterprises (392) investor relations material

Executive summary

• Revenue reached RMB87.228 billion in 2025, up 3.8% year-over-year; profit attributable to shareholders was RMB5.056 billion.

• Basic and diluted EPS were RMB4.02; final dividend proposed at HK$0.77 per share, total annual dividend HK$1.62 per share.

• All core business segments—gas, water, environment, and beer—delivered stable or improved operational performance.

• ESG performance improved, with S&P Global CSA score rising to 61, outpacing 75% of global peers.

Financial highlights

• Gross profit margin was 13.67%, up 0.08 percentage points year-over-year.

• Finance costs decreased by 12.6% to RMB2.186 billion due to proactive debt management and hedging.

• Net borrowings stood at RMB47.679 billion, down 0.6% from last year; gearing ratio improved to 43%.

• Cash and bank deposits totaled RMB31.268 billion at year-end.

Outlook and guidance

• Strategic focus on core businesses: natural gas, water, environment, and beer, with emphasis on green and low-carbon development.

• Plans to optimize business structure, enhance operational efficiency, and invest in emerging industries over the next five years.

• Each segment to pursue digital transformation, cost control, and new growth drivers, especially in green energy and high-end products.