China's Zhejiang Tengy Environmental H1 revenue soars, helped by large projects

Zhejiang Tengy Environmental Technology

28/08/2026 13:21

Overview
China environmental equipment maker's interim revenue rose 143% yr/yr for six months ended June
Net income attributable to owners rose 698% yr/yr for the reporting period
Board did not recommend payment of any dividend for the reporting period

Outlook
The Group will invest in energy-efficient dust collection systems, automation and digital monitoring platforms

Result Drivers
 LARGE PROJECT COMPLETIONS – Revenue growth was primarily driven by several large-scale projects completed and recognised during the period
 
LOWER-MARGIN PROJECT MIX – Gross margin fell to 37.32% from 38.04% as revenue recognised came from relatively lower-margin projects
GROSS PROFIT INCREASE - Gross profit rose to RMB203.8 mln from RMB85.5 mln a year earlier, reflecting higher revenue and improved profitability
OTHER INCOME RISE - Other income increased to RMB13.2 mln from RMB7.5 mln a year earlier

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 546.3 mln
 
H1 Net Income Attributable
 
RMB 126.5 mln
 

Analyst Coverage
The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 2 three months ago

Reuters Recommended Reads
Aug 27 - Hong Kong's Beijing Enterprises Holdings H1 profit rises on environmental services growth
Aug 28 - China Everbright Environment HY profit rises, helped by lower borrowing costs
Aug 25 - China's Tianjin Capital Environmental Protection H1 revenue rises

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)