China Risun Group (1907) H1 2025 earnings summary

Executive summary

• Maintained global leadership in coke production, with 10.9 million tons produced, up 25.3% year-over-year.

• Refined chemicals and high-purified hydrogen production volumes rose 11.5% and 16.8% year-over-year, respectively.

• Revenue fell 18.5% year-over-year to RMB20.55 billion, and net profit dropped 34.9% to RMB86.9 million.

• Basic EPS declined 74% year-over-year to RMB0.66 cents.

• Interim dividend declared at RMB0.20 cents per share, down from RMB0.78 cents last year.

Financial highlights

• Gross profit margin increased to 8.2% from 7.4% year-over-year.

• Net profit margin was 0.4%, EBITDA margin 9.0%, and return on equity 0.5%.

• Total borrowings rose 15.65% to RMB35.13 billion as of June 30, 2025.

• Net cash from operating activities nearly doubled to RMB1.95 billion, while investing cash outflows surged due to higher capex and restricted deposits.

• Cash and cash equivalents at period-end were RMB2,325 million.

Outlook and guidance

• Plans to expand coke and refined chemicals capacity via new production bases, M&A, and R&D in high-value products.

• Focus on hydrogen energy, targeting new projects and fuel stations in key Chinese regions.

• Strategy includes international expansion, especially in Asia Pacific, Europe, and North America.

• Plans to complete Pingxiang coke base by end-2025/early-2026.