Shandong Hi-Speed New Energy Reports 32% Profit Increase Amid Strategic Financial Adjustments

An announcement from Shandong Hi-Speed New Energy Group Limited ( (HK:1250) ) is now available.

Shandong Hi-Speed New Energy Group Limited reported a significant increase in profit for the year ending December 31, 2024, with a 32% rise to approximately RMB462.8 million. The company successfully reduced its finance costs by replacing high-cost financing with more affordable options and advanced repayment of overseas borrowings, despite increased costs from new power plant acquisitions and clean energy business development. The EBITDA saw a marginal increase, while the debt ratio was reduced to 60%, indicating improved financial stability. The company chose not to declare a final dividend for the year, maintaining a strong cash reserve for future business development.

More about Shandong Hi-Speed New Energy Group Limited

Shandong Hi-Speed New Energy Group Limited operates in the renewable energy sector, focusing on the development and management of clean energy projects. The company is involved in the acquisition and operation of power plants, emphasizing sustainable energy solutions.

YTD Price Performance: 1.14%

Average Trading Volume: 432,398

Technical Sentiment Signal: Buy

Current Market Cap: HK$3.98B

Find detailed analytics on 1250 stock on TipRanks’ Stock Analysis page.