Zhongshan Public Utilities Group Co Ltd

Zhongshan Public Utilities released its first-half 2026 report. Total operating revenue was 2.173 billion yuan, up 2.45% year on year. Net profit attributable to the parent company was 1.468 billion yuan, up 104.01% year on year, marking a second consecutive year of growth. Net cash inflow from operating activities was 248 million yuan, an increase of 618 million yuan year on year. The company's asset-liability ratio was 48.30%, down 0.92 percentage points year on year. Gross margin was 29.18%, up 7.00 percentage points year on year. Return on equity was 7.58%, up 3.48 percentage points year on year. Diluted earnings per share were 1.00 yuan, up 104.08% year on year.

Guangdong state-owned enterprises are intensifying acquisitions of a batch of new quality productive forces targets, exploring the path of empowering restructurings. Guangzhou Light Industry Group successively acquired Taimushi and Cangzhou Mingzhu in 2025, with the controlling stake transaction for Cangzhou Mingzhu totaling approximately 710 million yuan, and completed the delivery in March this year, subsequently promoting the establishment of its South China base in Zengcheng, Guangzhou. Guangzhou Industrial Investment Holdings Group took a controlling stake in Xusheng Group, a leader in automotive precision aluminum alloy components, for about 4.295 billion yuan in April this year, having previously acquired Tianhai Electronics and Farasis Energy, forming an automotive parts industry cluster exceeding 50 billion yuan. Shenzhen state-owned Shahé Corporation completed the acquisition of a 70 percent stake in Jinghua Electronics, becoming the first cross-border merger under Shenzhen's new restructuring policy. Zhuhai state-owned assets transferred a 16.67 percent stake in Sunsea AIoT to Sci-Tech Haike at no cost. Zhongshan Public Utilities acquired new energy assets within the system for 408 million yuan. Lingnan Holdings plans to acquire an 85 percent stake in Guangzhou Digital Group's Guangzhou Broadcasting City Services. Guangzhou Pharmaceutical Holdings is advancing the acquisition of Daan Gene to connect the pharmaceutical and testing industry chain. Industry insiders point out that this round of state-owned enterprise mergers and acquisitions places greater emphasis on obtaining controlling stakes and actual operational leadership, aiming to achieve two-way empowerment of resource integration and regional development.