中国再生能源投资二零二五年度中期业绩报告

(Incorporated in the Cayman Islands with limited liability)( 於開曼群島註冊成立之有限公司 ) Stock Code 股份代號：987 中期業績報告 Contents Pages Corporate Information2 Management Discussion and Analysis4 General Information 14 Report on Review of Interim Financial Information21 Condensed Consolidated Statement of Comprehensive Income23 Condensed Consolidated Statement of Financial Position25 Condensed Consolidated Statement of Changes in Equity27 Condensed Consolidated Statement of Cash Flows28 Notes to the Condensed Consolidated Interim Financial Information29 Corporate Information DIRECTORS Executive DirectorsMr. OEI Kang, Eric(Chairman and Chief Executive Officer)Mrs. OEI Valonia LauMr. WONG Jake Leong, SammyMr. LEE Shiu Yee, Daniel Independent Non-Executive DirectorsMr. CHENG Yuk WoMr. TIAN YuchuanMr. ZHANG Songyi AUDITOR Moore CPA LimitedCertified Public AccountantsRegistered Public Interest Entity Auditor COMPANY SECRETARYMr. LAI Kam Kuen, Ricky PRINCIPAL BANKERS Bank of Communications Co., Ltd.China Construction Bank CorporationChina Merchants Bank Co., Ltd.Dah Sing Bank, LimitedIndustrial and Commercial Bank of China LimitedShanghai Pudong Development Bank Co., Ltd. REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Corporate Information HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 75(852) 2731 0000(852) 2722 1323 9/F., Tower 1, South Seas Centre, 75 Mody RoadTsimshatsui East, Kowloon, Hong KongTelephone: (852) 2731 0000Fax: (852) 2722 1323 PRINCIPAL SHARE REGISTRAR ANDTRANSFER AGENT Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3Building D, P.O. Box 1586Gardenia Court, Camana BayGrand Cayman, KY1-1110Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3Building D, P.O. Box 1586Gardenia Court, Camana BayGrand Cayman, KY1-1110Cayman Islands BRANCH SHARE REGISTRAR ANDTRANSFER AGENT IN HONG KONG 18346 Computershare Hong Kong Investor Services Limited46th Floor, Hopewell Centre183 Queen’s Road EastHong Kong info@cre987.com E-MAIL ADDRESSinfo@cre987.com www.cre987.com WEBSITEwww.cre987.com STOCK CODE987 987 Management Discussion and Analysis FINANCIAL REVIEW 94,200,00074,300,00027%213%32,900,00010,500,0008,300,0004,900,000 For the six months ended 30 June 2025, China Renewable EnergyInvestment Limited (“CRE” or the “Company”, and with its subsidiaries,collectively, the “Group”) recorded HK$94.2 million in turnover, a 27%increase compared to last year’s HK$74.3 million as wind resourcesimproved considerably in the first half of the year. Gross profit for theperiod increased 213% to HK$32.9 million (six months ended 30 June2024: HK$10.5 million). Finance costs have been reduced as theG r o u p h a s r e p a i d l o a n s w i t h o u t i n c u r r i n g a d d i t i o n a l c a p i t a lexpenditures, dropping from HK$8.3 million in the interim period 2024to HK$4.9 million in 2025. 30,00022,100,0004%21,200,000 For the Group’s associate company wind farms, wind conditions werealso good during the first half of 2025. However, since April 2024, theGroup no longer receives tariff subsidies for its windfarms at Danjingheand Changma. This has been expected as both wind farms reachedthe 30,000 hours of wind power dispatch subsidy allowed by theoriginal contract. As a result, net profit from the associates decreased4% to HK$21.2 million as compared to last year’s HK$22.1 million. The Group experienced increased curtailment and lower power tariffsas more of the Group’s power were sold at market rates. However, thisyear’s strong wind resources more than compensated. Overall, theGroup’s net profit after tax attributable to the equity holders of theGroup for the six months ended 30 June 2025 increased 178% toHK$32.5 million or earnings per share of HK1.30 cents. For the sameperiod in 2024, net profit after tax attributable to the equity holders ofthe Group was HK$11.7 million or earnings per share of HK0.47 cents. 178%32,500,0001.3011,700,0000.47 Liquidity and Financial Resources 218,400,000227,600,000 As at 30 June 2025, the Group’s total bank borrowings was HK$218.4million as compared to HK$227.6 million as at 31 December 2024. Thedifference was mainly due to the repayment of principal for existingproject loans. Management Discussion and Analysis FINANCIAL REVIEW(CONTINUED) Liquidity and Financial Resources(continued) 33,500,000134,100,00050,800,000 The bank borrowings include project loans and corporate bank loanfacilities. Project loans were interest-bearing RMB bank loans used tofinance the Group’s wind farm projects in the People’s Republic ofChina (“China”), with interest rates based on the People’s Bank ofChina rates or Loan Prime Rate. The corporate bank loan facilities wereinterest-bearing HKD bank loans, with interest rates based on the HongKong Interbank Offered Rate. The maturity dates for the Group’soutstanding bank borrow