Shandong Hi-Speed New Energy Group's profit up 6.5% on lower finance costs

Shandong Hi-Speed New Energy Group Limited reported a profit of approximately RMB392.8 million for the six months ended June 30, 2025, an increase of 6.5% from RMB369.0 million in the same period last year. This growth was largely attributed to a 15.8% reduction in finance costs, which decreased to RMB558.9 million from RMB663.8 million. This was due to the replacement of high-cost financing and early repayment of overseas borrowings.

The group’s total assets reached approximately RMB49,528.6 million, with total liabilities at RMB29,799.6 million, maintaining a debt ratio of approximately 60.17%. Cash and cash equivalents increased by 13.1% to approximately RMB4,122.9 million. However, revenue saw a slight decrease of 0.2% to RMB2,399.6 million, and the overall gross profit margin decreased by 0.7 percentage points to 50.2%, mainly due to greater grid curtailment and lower margins from new grid-connected power plants not eligible for tariff subsidies.

Basic and diluted earnings per share for the period stood at RMB12.77 cents, up from RMB12.28 cents in the previous year. The board did not recommend an interim dividend for the six months ended June 30, 2025.