Core Viewpoint - China Everbright International (00257.HK) reported a decrease in mid-term performance for the first half of 2025, with total revenue of HKD 14.304 billion, down 8% year-on-year, indicating challenges in the operational environment [1] Financial Performance - Total revenue for the group reached HKD 14.304 billion, a decrease of 8% compared to the same period last year [1] - Earnings before interest, taxes, depreciation, and amortization (EBITDA) were HKD 6.048 billion, also down 8% year-on-year [1] - Profit before tax was HKD 3.703 billion, reflecting a 5% decrease compared to the previous year [1] - Profit attributable to equity holders was HKD 2.207 billion, a decline of 10% year-on-year [1] - The interim dividend declared was HKD 0.15 per share [1] Revenue Breakdown - Operating service revenue amounted to HKD 9.943 billion, an increase of 5% year-on-year [1] - Construction service revenue was HKD 1.844 billion, showing a significant decrease of 49% compared to the same period last year [1] - Revenue composition: operating service revenue accounted for 70%, construction service revenue 13%, and financial income 17% [1] Financing and Cash Management - The group has been diversifying its financing channels and optimizing the structure of financing tools [1] - Successfully issued medium-term notes and asset-backed securities, maintaining a low overall funding cost [1] - Strengthened domestic and international bank credit reserves and foreign debt management [1] - Received approximately RMB 50 million in various government subsidies during the first half of 2025 [1] - As of June 30, 2025, the group held cash of HKD 8.842 billion, indicating a reasonable level of debt and healthy financial status [1]
中国光大国际(00257.HK)上半年纯利跌10%至22.07亿港元 中期息每股15港仙