Central New Energy Holding Group Limited reported interim results for the six months ended 30 June 2026 (1H26).
Revenue and Profitability • Group revenue rose 56.30 % year-on-year to HK$6.33 billion, driven by stronger photovoltaic (PV) sales and the first-time contribution from the AI chip & server segment. • Gross profit increased 50.00 % to HK$129.60 million, but gross margin edged down to 2.0 % (1H25: 2.1 %) due to margin pressure in the PV EPC business. • Net profit declined 19.57 % to HK$40.20 million, mainly reflecting a HK$12.82 million rise in finance costs to HK$43.03 million and a HK$63.83 million drop in other income and net gains.
Segment Performance • New Energy & EPC remained the core revenue generator at HK$4.41 billion (up 33.24 %), representing 69.7 % of total turnover. • AI Chip & Server Services, a new business line, contributed HK$1.05 billion, accounting for 16.5 % of revenue. • Health & Wellness sales climbed 22.90 % to HK$850.36 million. • Green Building revenue fell 51.39 % to HK$20.81 million as resources were re-allocated to higher-growth segments. • No revenue was recorded from Smart Energy Management or F&B Supply Chain operations during the period.
Financial Position • Cash and bank balances stood at HK$270.00 million (31 Dec 2025: HK$324.22 million). • Current ratio was 1.0x, versus 1.1x at year-end 2025. • Total borrowings increased to HK$2.48 billion (31 Dec 2025: HK$1.93 billion); gearing ratio rose slightly to 125.34 %. • Net operating cash outflow amounted to HK$605.73 million, contrasting with a HK$175.49 million inflow in 1H25. • Capital commitments for PP&E and right-of-use assets totalled HK$174.60 million.
Operational Highlights • The Group advanced its dual-engine strategy, expanding from core PV manufacturing/EPC into AI chip R&D and server-related services, aiming to leverage synergies between green energy generation and power-intensive computing. • Manufacturing investments continued, with HK$199.13 million deployed for additional capacity and technology upgrades. • Workforce optimisation and adoption of AI-enabled systems helped trim selling, administrative and other operating expenses by 3.20 % to HK$93.77 million.
Governance and Shareholder Matters • No interim dividend was declared. • No significant investments, acquisitions or disposals occurred during the period, and no material contingent liabilities were reported. • Public float requirements remained satisfied, and no director or substantial shareholder changes affecting control were noted.
Outlook Management intends to deepen integration between its renewable energy assets and the emerging AI semiconductor value chain, targeting enhanced operational efficiency and diversified earnings growth in forthcoming periods.
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