东吴证券指出，公司固废运营收入稳健增长，随产能爬坡&供热拓展等，盈利能力有望持续提升。随着在建项目减少，上半年建造收入占比降至1.38%，建造盈利贡献降至低位，同时资本开支大幅下降，自由现金流转正，进入现金流收获期。此外，公司发布三年分红规划，据该行测算，24-26年港股绿色动力环保股息率分别为6.5%、8.1%、10.2%。Dynagreen Env (01330) rose more than 3%, as of press time, rose 3.01%, reported HKD 3.08, with a turnover of HKD 8.5671 million.
According to the Futu Securities APP, Dynagreen Env (01330) rose more than 3%, as of press time, rose 3.01%, reported HKD 3.08, with a turnover of HKD 8.5671 million.
In terms of news, Dynagreen Env announced its interim performance, with an operating revenue of CNY 1.661 billion, a year-on-year decrease of 22.5%; a net profit of CNY 0.303 billion, a year-on-year decrease of 16.8%; earnings per share of 22 cents, an interim dividend of CNY 0.1 per share, with a total distribution of CNY 0.139 billion and an interim dividend payout ratio of 46%. The company also stated that the profits to be distributed in cash for the next three years should not be less than 40%, 45%, and 50% of the distributable profits realized in each respective year.
Soochow Securities pointed out that the company's solid waste operation income is growing steadily, and its profitability is expected to continue to improve with the expansion of production capacity and heating supply. With the reduction of projects under construction, the proportion of construction revenue in the first half of the year has dropped to 1.38%, and the contribution of construction profit has dropped to a low level. At the same time, capital expenditures have significantly decreased, free cash flow has turned positive, and it has entered the cash flow harvesting period. In addition, the company announced a three-year dividend plan. According to calculations by the bank, the dividend yield of Dynagreen Env in the Hong Kong stock market is expected to be 6.5%, 8.1%, and 10.2% in 2024, 2025, and 2026 respectively.
