Central New Energy Holdings' profit jumps amid revenue surge

Central New Energy Holding Group Limited announced a substantial revenue increase to HK$6,032.0 million for the year ended December 31, 2024, up from HK$4,028.3 million in the previous year. Profit attributable to owners of the company rose to HK$106.4 million, compared to HK$66.3 million in 2023, translating to basic earnings per share of HK cents 2.52. The revenue surge was primarily fueled by the company's new energy and EPC (engineering, procurement, and construction) segment, which accounted for 68.4% of total revenue. While the green building and construction business saw a revenue decline, the smart energy management and health and wellness segments experienced growth. The board did not recommend a final dividend for the reporting year. The company continues to expand its production capacity in photovoltaic (PV) battery and components.