Tianbao Energy (01671.HK) announced that it expects to record a net profit attributable to shareholders of RMB 1.787 million for the six months ended June 30, 2024, while for the same period in 2023, the net profit attributable to shareholders was about RMB 0.704 million.
This is primarily due to the group’s successful completion of the electricity generation phase of its gas distributed energy station project after starting commercial operations for heating, which has improved the group’s profitability. It is also due to the acquisition of a 95% stake in Yangzhou Qingchang Cecep Solar Energy Technology Co., Ltd. and its ownership of the 10.44MW distributed rooftop photovoltaic project for commercial and industrial use, which has improved the group’s profitability.
