DYNAGREEN ENV (01330) announced its full-year financial results for the fiscal year ended December 31, 2025. The Group reported revenue of RMB 3.534 billion, an increase of 3.97% year-on-year. Net profit attributable to shareholders reached RMB 618 million, up 5.54% compared to the previous year. Basic earnings per share were RMB 0.44, with a final dividend of RMB 0.22 per share.
The company has consistently adhered to its operational philosophy of "Safety, Environmental Protection, Civility, and Efficiency," maintaining strict standards for workplace safety and environmental protection. It continued to enhance its safety management system, establishing the position of Chief Safety Officer and creating a dedicated Safety Supervision Department in 2025.
By focusing on its core business and implementing measures such as expanding waste sourcing and advancing the intelligent and digital transformation of its projects, the company achieved simultaneous improvements in operational efficiency and business quality. During the reporting period, while maintaining stable operational scale, the company saw growth across all key performance indicators, demonstrating strong resilience and growth momentum.
In 2025, the company processed a cumulative total of 14.7296 million tons of municipal solid waste, a year-on-year increase of 2.41%. Electricity generation supplied to the grid reached 4,359.2829 million kWh, up 2.31%. Steam supply volume amounted to 1.1205 million tons, surging 98.81% year-on-year.
The company actively promoted diversified operations at its waste-to-energy projects, expanding into non-power businesses such as heating and steam supply, as well as sludge treatment. This effectively enhanced the overall profitability of its projects. The scale of its heating and steam supply business continued to grow, with new stable external steam supply achieved by the Jizhou and Zhaoqing companies. The mobile heating supply from the Changzhou company also saw a significant increase. By the end of the reporting period, a total of 13 operating projects were providing external heating and steam.
Efforts to develop sludge co-processing capabilities were intensified. Technical upgrades for sludge co-processing were carried out at the Changzhou, Wuhan, Haining expansion, and Zhangqiu projects, leading to a notable increase in sludge treatment volume. By the end of the period, 13 projects had implemented sludge co-processing.
Furthermore, the company explored high-value utilization pathways for recycled products. It successfully connected purified biogas from the Bengbu project to a third-party gas system, broadening revenue streams and achieving a balance between economic and environmental benefits.
During the reporting period, the company continued to solidify its leading position in the domestic waste-to-energy sector while steadily advancing its overseas market presence in response to the national "Belt and Road" initiative. Domestically, the company successfully acquired the Xinmi waste-to-energy project in Henan in early 2026, which is expected to create synergies with its Dengfeng project.
For international expansion, the company focused on the Guangdong-Hong Kong-Macao Greater Bay Area and Southeast Asian markets. It formed a strategic partnership with Asia Allied Infrastructure Holdings Limited, submitting a joint bid for the Hong Kong iPark2 waste-to-energy project and establishing a joint venture to participate in the bidding for the Northwest New Territories Transfer Station project in Hong Kong.
Concurrently, the company was successfully shortlisted as a selected supplier for an environmentally friendly waste-to-energy project in Indonesia. This qualification has been confirmed by the Indonesian sovereign wealth fund PT Danantara Investment Management, laying a solid foundation for deeper development in the Southeast Asian market.
Additionally, the company was included in the 2025 "Belt and Road" Ecological and Environmental Governance Technology and Products Recommended Catalogue and was recognized as one of the first batch of "Observer Units" under the Green Brand Going Global Plan.