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兴业太阳能(750.HK):业绩恢复增长 财务维持稳健

輝立證券(香港) ·  Oct 14, 2016 00:00  · Researches

  Business performance returned to a growth trajectory. In the first half of 2016, Industrial Solar Energy realized operating revenue of RMB 2,756 billion (including electricity price supplements of 37.6 million), a year-on-year increase of 24.8%; gross profit of 613 million yuan, an increase of 15.2% year-on-year; and shareholders' net profit of 316 million yuan, an increase of 41.5% year-on-year. The basic profit per share was 0.454 yuan, a year-on-year increase of 41.4%. There was a significant increase in performance during the period, mainly driven by strong growth in solar energy EPC business and curtain wall and green building business. In terms of profitability, the gross margin was 22.2%, down 2 percentage points from the previous year. The period fee rate was 15.15%, down 1 percentage point from the previous year. The final net interest rate was 11.97%, up 1.7 percentage points from the previous year. Profits from the sale of 50MW photovoltaic power plants led to an improvement in profitability.

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