Zhejiang Fuchunjiang Environmental Thermoelectric Co Ltd

Fuchun Environmental Protection released its 2026 interim report, with net profit attributable to the parent company of 321 million yuan, an increase of 134 million yuan compared with the same period last year, up 72.11% year on year, marking three consecutive years of growth. The company's total operating revenue was 3.226 billion yuan, up 29.25% year on year, also achieving three consecutive years of growth. Net cash inflow from operating activities was 300 million yuan, and the latest asset-liability ratio was 47.80%, down 0.27 percentage points from the same period last year. The company's diluted earnings per share was 0.37 yuan, up 68.18% year on year.

As of now, 22 companies in the Shenzhen-listed utilities sector have disclosed earnings forecasts. More than half reported year-on-year profit growth, and 10 saw net profit rise by over 50%, with overall profitability improving markedly. Qianyuan Power expects first-half net profit attributable to the parent of 220 million to 255 million yuan, up 73.01% to 100.54% year on year, with power generation reaching 4.036 billion kilowatt-hours, a 26.10% increase. Chuanneng Power expects net profit attributable to the parent of 650 million to 720 million yuan, up 112.41% to 135.29%, mainly driven by the commissioning of lithium mining and lithium salt projects and the grid connection of wind power projects. Fuchun Environmental Protection expects net profit attributable to the parent of 298 million to 335 million yuan, up 60% to 80%, with higher product prices in the non-ferrous metal resource recycling business as the main driver. Lixin Energy expects net profit attributable to the parent of 60 million to 80 million yuan, up 570.26% to 793.68%, as the grid connection of a joint venture's outbound power transmission project from Xinjiang led to a sharp increase in investment income. Changyuan Electric Power expects net profit attributable to the parent of 149 million to 215 million yuan, up 57.14% to 126.74%, benefiting from lower standard coal unit prices and higher average electricity selling prices. Hunan Development expects net profit attributable to the parent to rise 318.91% to 391.77% year on year, following the completion of a major asset restructuring that brought four hydropower companies into the consolidated financial statements and significantly expanded hydropower installed capacity. Overall, in the first half of 2026, the Shenzhen-listed utilities sector achieved broad-based growth across sub-sectors such as power, new energy, and environmental protection. Many companies benefited from multiple tailwinds including project commissioning, abundant water inflows, lower fuel costs, and asset restructurings, delivering relatively rapid profit growth.

Fuchun Environmental Protection disclosed its earnings forecast, expecting attributable net profit for the first half of 2026 to be between 298 million and 335 million yuan, a year-on-year increase of 60% to 80%, with basic earnings per share of 0.3477 yuan to 0.3878 yuan. The company said that during the reporting period, prices of major products in its non-ferrous metal resource utilization business segment rose significantly compared with the same period last year, driving substantial growth in both revenue and profitability.