CHANT GROUP(SZ:002616)2025-09-02 09:58Group 1: Financial Performance - The company's revenue for the first half of 2025 was 1.873 billion, a slight decrease compared to the same period last year, primarily due to a reduction in heating income from the industrial park's coal-fired centralized heating project as coal prices fell [3] - The non-recurring net profit reached 146 million, an increase of 150.33% year-on-year, attributed to lower fuel costs and an increase in biomass project output benefiting from VAT incentives [3] - The company plans to distribute a cash dividend of 110 million for the first time in the mid-term [3] Group 2: Project Developments - The company currently operates 14 biomass power generation projects, with nearly 60% of total revenue coming from power generation and approximately 40% from heating [5] - Twelve of the biomass projects have already generated heating income, indicating a growth in heating demand [5] - The company has 12 projects included in the subsidy directory, with only two remaining to be registered [6] Group 3: CCER Participation - The company anticipates that its biomass cogeneration projects will be eligible to participate in CCER trading based on the recently released draft methodology by the Ministry of Ecology and Environment [6] - Each biomass cogeneration project with a capacity of 30MW is expected to generate over 120,000 tons of voluntary carbon reduction annually upon participation in CCER trading [7] - The company prefers to participate in CCER trading due to the significant price difference compared to green certificates [7] Group 4: Asset Management - The sale of the Yutai project resulted in a loss of 30.9 million, which is expected to improve liquidity for business expansion [9] - The sale of two garbage power generation projects in Zhongshan will impact the current year's profits, but it is aimed at enhancing the company's financial cushion and focusing on the biomass energy sector [9] Group 5: Dividend Policy - The mid-term dividend payout ratio is as high as 92.3%, reflecting the company's improved operational and cash flow conditions [8] - Future dividends will be implemented in accordance with the company's shareholder return plan, ensuring normal operations and long-term development [8]