股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2026年3月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 電能實業有限公司 | | | | 呈交日期: | 2026年4月1日 | | | | I. 法定/註冊股本變動 | 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.2.1 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 1. 股份分類 普通股 股份類別 不適用 於香港聯交所上市 (註1) 是 證券代號 (如上市) 00006 說明 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 2,131,105,154 0 2,131,105,154 增加 / 減少 (-) 0 0 本月底結存 2,131,105,154 0 2,131,105,154 足夠公眾持股量的確認(註4) | 根據《主板上市規則》第13.32D(1)條或第19A.28D(1)條 / 《GEM上市規則》第17.3 ...

Core Viewpoint - UBS reports that Power Assets Holdings (00006) is expected to see a 2% year-on-year increase in recurring net profit to HKD 6.2 billion in 2025, with a maintained annual dividend of HKD 2.82 per share, equating to a dividend yield of 4.6% [1] Financial Performance - Financing costs increased by 35% year-on-year to HKD 228 million [1] - Overall performance is in line with expectations [1] Regional Business Performance - The Australian business showed strong performance with a 4% year-on-year profit increase to HKD 1.5 billion, benefiting from the new regulatory period for SAPN starting last July and increased connection fee revenue in Victoria [1] - The UK business maintained profit at HKD 3.2 billion, primarily due to the normalization of last year's high one-off adjustments for UKPN; NGN and WWU received favorable final decisions last December [1] Management Guidance - Management anticipates the UKPN sale to be completed by the end of June this year for GBP 4.2 billion (approximately HKD 44.3 billion) [1] - UK railway revenue of HKD 1.9 billion was completed in January this year [1] - Management holds a positive outlook on the allowed returns for UK gas and Australian utilities following regulatory resets [1] M&A Focus - The group will focus on mature regulated energy markets and is open to collaboration with Cheung Kong Infrastructure and CK Hutchison [1] - UBS expects the market reaction to the performance to be generally neutral, with attention shifting to cash deployment post-sale [1]

Core Viewpoint - Citi has reiterated a "Buy" rating for Power Assets Holdings (00006) based on low business risk, significant hidden asset value from the sale of a 40% stake in UK Power Networks, and potential earnings growth from mergers and acquisitions [1] Group 1: Financial Performance - Power Assets reported substantial annual results for the year ending December, with a notable sale generating HKD 45 billion or HKD 21.1 per share [1] - The target price for Power Assets has been raised by 19% from HKD 59 to HKD 70, incorporating projected sales for the first half of 2026 [1] Group 2: Dividend and M&A Potential - The expected dividend yield for 2026 is 4.5%, which is considered moderate; however, there is potential for an increase if significant mergers occur [1] - In the absence of major acquisitions within the next 12 to 18 months, the company may consider issuing a special dividend, similar to the special dividends distributed after the divestment of Hongkong Electric in 2014 [1]

Core Viewpoint - The company reported a revenue of HKD 771 million for 2025, a year-on-year decrease of 16.1%, primarily due to a reduction in interest income from loans to joint ventures [1] - The net profit attributable to shareholders was HKD 6.236 billion, reflecting a year-on-year increase of 1.9%, which is in line with expectations [1] - The company maintains a "buy" rating, supported by strong risk resilience and upcoming opportunities for return rate adjustments in 2026 [1] Financial Performance - The company declared a dividend per share (DPS) of HKD 2.82 for 2025, unchanged from 2024, with a dividend yield of 4.5% [1] - Total dividends for the year amounted to HKD 6.01 billion, representing 96% of net profit attributable to shareholders [1] Regional Contributions - The Australian business contributed a profit of HKD 1.461 billion in 2025, up 4% year-on-year, driven by regulatory changes allowing a return rate increase [2] - The Hong Kong business generated a profit of HKD 1.051 billion, reflecting a 1% year-on-year increase, supported by capital expenditure investments [2] - The UK business's profit contribution was HKD 3.210 billion, remaining stable year-on-year, with new acquisitions contributing to overall performance [2] Regulatory Changes and Future Outlook - Several regulated assets are expected to enter new regulatory periods in 2026, which will likely enhance return rates and support future earnings growth [3] - Specific regulatory approvals have been granted, allowing for return rate increases in various regions, including a 0.83% increase for Northumbrian Water and a 1.49% increase for Northern Gas Networks [3] Profit Forecast and Valuation - The company anticipates net profits of HKD 7.159 billion, HKD 7.264 billion, and HKD 7.561 billion for 2026-2028, reflecting increases from previous estimates [4] - The expected profit contribution from the completed sale of UK Rails is approximately HKD 300 million [4] - The target price for the company is set at HKD 77.60, based on a price-to-book ratio of 1.80x, reflecting confidence in the company's business model and growth potential [4]

电能实业 分时图 日K线 周K线 月K线 62.20 -0.05 -0.08% 2.25% 1.49% 0.76% 0.00% 0.76% 1.49% 2.25% 60.85 61.32 61.78 62.25 62.72 63.18 63.65 09:30 10:30 12:00/13:00 14:00 16:10 0 12万 24万 36万 电能实业(00006)发布公告，该公司将于2026年6月9日派发截至2025年12月31日止年度的末期股息每股 2.04港元。 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of HKD 77.60 [6]. Core Views - The company reported a revenue of HKD 7.71 billion for 2025, a decrease of 16.1% year-on-year, primarily due to a reduction in interest income from loans to associated companies. However, the net profit attributable to shareholders was HKD 6.236 billion, reflecting a year-on-year increase of 1.9%, which is in line with expectations [1][4]. - The company is expected to benefit from an increase in return rates for several regulated assets entering new regulatory periods in 2026, which supports future earnings growth. The sale of UK Power Networks (UKPN) is anticipated to significantly enhance cash reserves and improve the company's capacity for global expansion and acquisitions [3][4]. - The Australian business contributed a profit of HKD 1.461 billion in 2025, up 4% year-on-year, driven by regulatory changes allowing for a return rate increase. The Hong Kong business remained stable, contributing HKD 1.051 billion, while the UK business's profit contribution was flat due to high base effects from the previous year [2][3]. Summary by Sections Financial Performance - The company achieved a revenue of HKD 7.71 billion in 2025, down 16.1% year-on-year. The net profit attributable to shareholders was HKD 6.236 billion, up 1.9% year-on-year. The dividend per share (DPS) for 2025 is HKD 2.82, maintaining a dividend payout ratio of 96% [1][4]. - The projected net profits for 2026-2028 are HKD 7.159 billion, HKD 7.264 billion, and HKD 7.561 billion, respectively, indicating a growth trajectory [4][9]. Regulatory Changes and Future Outlook - Several regulated assets are entering new regulatory periods in 2026, which is expected to lead to increased return rates. For instance, Northumbrian Water's return rate is set to increase by 0.83 percentage points to 4.03% [3]. - The company anticipates that the UKPN equity sale will be completed by the end of June 2026, potentially generating a profit contribution of approximately HKD 3 billion [2][4]. Valuation Metrics - The report estimates the company's price-to-book (PB) ratio at 1.80x for 2026, with a target price of HKD 77.60, reflecting a positive outlook based on historical averages and expected performance improvements [4][9].

Core Viewpoint - The company reported a decline in revenue for the fiscal year 2025, while maintaining a slight increase in profit attributable to shareholders [1] Financial Performance - Revenue for the year was HKD 771 million, representing a year-on-year decrease of 16.1% [1] - Profit attributable to shareholders was HKD 6.236 billion, showing a year-on-year increase of 2% [1] - Basic earnings per share were HKD 2.93, with a proposed final dividend of HKD 2.04 per share [1]

智通财经APP讯，电能实业(00006)发布2025年全年业绩，收入7.71亿港元，同比下降16.1%;股东应占溢 利62.36亿港元，同比增长2%;每股基本盈利2.93港元，拟派末期股息每股2.04港元。 英国仍然是电能实业最大市场，当地业务取得溢利贡献合共港币32.1亿元(2024年：港币31.99亿元)。集 团当地业务持续展现韧力，收益稳定。 受惠于优质投资组合的稳健营运表现，澳洲业务组合表现稳定，为集团带来港币14.61亿元的溢利贡献 (2024年：港币14.03亿元)，增长4%。 此外，电能实业已建立稳固的财务框架，以支撑持续增长的策略愿景。在全球投资组合支持下，集团财 务根基雄厚，并获标准普尔继续授予"A/稳定"的信贷评级。集团维持低借贷比率，负债净额对总资本净 额比率为1%，(加上以透视基准摊分国际投资组合的负债净额后，负债净额对总资本净额比率则为 46%)，有充裕能力把握新收购机遇，进一步壮大业务组合。 2025财政年度内，电能实业凭借遍布全球的优质基建业务组合，取得强劲业绩。来自营运的现金流增加 8%，充分展现雄厚资产基础带来的稳健收入来源。 ...

智通财经APP讯，电能实业(00006)发布公告，该公司将于2026年6月9日派发截至2025年12月31日止年度 的末期股息每股2.04港元。 ...

EF001 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 電能實業有限公司 | | 股份代號 | 00006 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至2025年12月31日止年度的末期股息 | | | 公告日期 | 2026年3月18日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年12月31日 | | 宣派股息 | 每 股 2.04 HKD | | 股東批准日期 | 2026年5月20日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 2.04 HKD | | 匯率 | 1 HKD : 1 HKD | | ...