美能能源2025年前三季度净利润增长21.38%，主业夯实与股东回报双轮驱动

Core Viewpoint - Meinuo Energy has demonstrated resilience and growth potential in the clean energy sector, achieving significant year-on-year increases in both revenue and net profit despite a challenging economic environment [1][2]. Financial Performance - For the first three quarters of 2025, Meinuo Energy reported a revenue of 515 million yuan, representing a year-on-year growth of 17.28% [1]. - The net profit attributable to shareholders reached 66.27 million yuan, marking a 21.38% increase compared to the previous year [1]. - The net profit after deducting non-recurring gains and losses was 57.46 million yuan, reflecting a 20.65% year-on-year growth, indicating a solid improvement in the company's core business profitability [1]. - The weighted average return on equity was 4.98%, an increase of 0.88 percentage points from the same period last year, showing enhanced asset operational efficiency [1]. Asset Structure - The total asset scale has slightly decreased since the beginning of the year, primarily due to high cash dividends and optimized financial management, rather than a contraction in operations [2]. - Construction in progress increased by 64.22% compared to the beginning of the year, indicating a proactive investment in future business expansion [2]. - Accounts receivable growth is attributed to increased installation engineering activities, reflecting ongoing business scale expansion [2]. Shareholder Returns - Meinuo Energy implemented a cash dividend distribution plan for the first half of 2025, distributing 1.50 yuan per 10 shares (tax included), totaling approximately 35.79 million yuan, highlighting the company's commitment to shareholder returns and strong cash flow [2]. Strategic Focus - The company is divesting its stake in Hancheng Pudong Village Bank to further concentrate on its clean energy core business and optimize its asset structure [2]. - Meinuo Energy is actively expanding into new energy sectors while maintaining stable growth in traditional gas operations, benefiting from policies promoting energy structure optimization and clean energy adoption [2]. Future Outlook - Meinuo Energy aims to deepen its core business, optimize resource allocation, and drive high-quality development, with expectations of solidifying its leading position in the regional energy market as new projects come online [3].