According to the Zhitong Finance App, Shantao Holdings (00412) announced the results for the year ended December 31, 2023. The group achieved revenue of HK$5,529 billion during the period, an increase of 31.85% over the previous year; profit attributable to company owners was HK$15.92 million, which turned a year-on-year loss into a profit; basic profit per share was HK$0.25 cents.

The announcement said that since the second half of 2021, in response to major changes in overseas financial capital markets, the Group has relied on the resource advantages of the main industry of Shandong Expressway Group Co., Ltd. (Shandong Expressway Group) to promote the transformation of business from mainly financial investment to investment holdings in emerging industries, focusing on the active layout of strategic emerging industry tracks such as new energy and new infrastructure supported by the country. In 2022, the Group took a key step in strategic transformation by merging and acquiring Shangao Renewable Energy Group Co., Ltd. (Shangao New Energy). Over the past year, the Group has accurately empowered Shangao New Energy in terms of capital, resources, brands, mechanisms, etc., to help Shangao New Energy continue to optimize its capital structure, steadily improve asset quality, and achieve major breakthroughs in resource acquisition. The successful introduction of a strategic investment of RMB 5 billion from Ping An Asset Management Co., Ltd. provided sufficient financial guarantees for the rapid development of Shangao New Energy's business. About 1.62 GW of wind power and photovoltaic development targets were added throughout the year, and a 387.5 MW centralized onshore wind power project in Shandong Province was obtained in fierce competition, pioneering the Group's independent development of high-quality volume-volume projects.

During the reporting period, the Industrial Investment Business Division made a profit of approximately HK$2.08 billion. In the same period last year, the division made a profit of approximately HK$1.71 billion.