CEB GREENTECH (01257) surged over 10%, rising 10.31% to HK$1.07 with a trading volume of HK$6.1633 million as of press time.

On the news front, CEB GREENTECH announced on September 5 that from July 1, 2025 to August 31, 2025, 33 subsidiaries of the group involved in biomass comprehensive utilization, photovoltaic power generation, and wind power projects have received settlement notices for additional subsidy funds from State Grid Corporation of China. According to the notices, the total settlement amount for additional subsidy funds was approximately RMB 2.064 billion, which the group has received in full as of the announcement date.

The recovery of the aforementioned additional subsidy funds will improve the cash flow of the company's biomass comprehensive utilization, photovoltaic power generation, and wind power projects as well as the group overall, reduce the group's liabilities, and have a positive impact on the future operations of the group's biomass comprehensive utilization, photovoltaic power generation, and wind power projects. The additional subsidy funds received this time have been recognized as electricity sales revenue for the corresponding years when the electricity was sold.

Additionally, CICC pointed out that the company has established combined heat and power generation as its main comprehensive business development direction after subsidies expire. As of the end of 1H25, the company's heating capacity has reached 2.18 million tons per year, and the company expects to reach 2.5 million tons by the end of 2025. The company is also actively expanding virtual power plants and zero-carbon industrial parks, with virtual power plant contracts signed with 136 manufacturers. Considering that the company's heating business has achieved profitable contributions at scale, the firm is optimistic about the profit recovery of biomass power generation for the full year.