Shenergy Company (600642) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 was RMB 12.96 billion, down 5.28% year-over-year; net profit attributable to shareholders was RMB 2.08 billion, down 5.23% year-over-year.

• Clean energy installed capacity reached 6.76 GW, accounting for 36% of total; new energy generation increased 17.6% year-over-year.

• Company advanced green transition, cost control, and digital transformation, with no major safety incidents.

• Major projects in wind, solar, and storage advanced; capital structure and liquidity remained stable.

Financial highlights

• Operating income: RMB 12.96 billion, down 5.28% year-over-year.

• Net profit attributable to shareholders: RMB 2.08 billion, down 5.23% year-over-year.

• Operating cash flow: RMB 4.21 billion, down 5.58% year-over-year.

• Gross margin for main business: 22.45%, up 2.98 percentage points year-over-year.

• EBITDA/total debt: 0.23, up 91.67% year-over-year; interest coverage ratio: 6.88, up 26.01%.

Outlook and guidance

• Company will continue to focus on green transition, cost reduction, and efficiency improvement.

• Plans to expand clean energy, optimize capital structure, and maintain stable dividend policy.

• Will monitor market and policy changes, aiming for high-quality growth and enhanced shareholder returns.