Excluding the forex loss, the group’s earnings would have been up by 33.5% y-o-y to RMB540.3 million.
During the 4QFY2022, the group’s earnings grew by 63.1% y-o-y to RMB277.3 million.
Revenue for the FY2022 fell by 0.7% y-o-y to RMB4.07 billion as the decline in revenue for the construction services provided under BOT concession agreements more than offset the increase in revenue from the waste-to-energy (WTE) business.
Gross profit, however, grew by 10.7% y-o-y to RMB1.16 billion due to the lower cost of sales and improved gross profit margin (GPM) for the WTE segment.
See also: Keppel Pacific Oak US REIT’s 1QFY2025 distributable income falls by 19.3% y-o-y to US$9.6 mil
As at Dec 31, 2022, cash and cash equivalents stood at RMB627.0 million.
No dividend has been declared for the period.
Shares in Zheneng Jinjiang closed flat at 40 cents on Feb 27.
