Beijing Energy International (0686) H2 2024 earnings summary

Executive summary

• Achieved net profit of RMB557 million, up from RMB472 million year-over-year, driven by increased electricity sales and expanded installed capacity.

• Revenue rose to RMB7,011 million, a 25.9% increase year-over-year, with EBITDA at RMB5,622 million.

• Grid-connected installed capacity grew 47.4% to 12,639MW, with significant expansion in solar, wind, and energy storage projects.

• Final dividend of HK10.00 cents per share proposed, up from HK1.00 cent last year.

Financial highlights

• Net profit increased to RMB557 million from RMB472 million year-over-year.

• Revenue reached RMB7,011 million, up from RMB5,568 million; EBITDA margin at 80%.

• Finance costs rose 19.1% to RMB2,379 million due to business expansion.

• Basic and diluted EPS were RMB3.88 cents, up from RMB1.81 cents.

• Total assets increased to RMB102,469 million; total equity at RMB22,660 million.

Outlook and guidance

• Focus on high-quality development and asset optimization in line with the national “dual carbon” strategy.

• Plans to expand hydro, gas turbine, integrated energy, and green hydrogen segments.

• Strategic emphasis on yield, cost control, and regional project development, especially in Beijing, Yangtze River Delta, and overseas markets.