Everbright Environment 2025 Performance Release: Operating Revenue Share Increases, Dividend Payout Rises | State-Owned Enterprise Insights

On March 20, 2026, China Everbright Environment Group Limited (0257.HK) (hereinafter referred to as “Everbright Environment”) released its consolidated results for the year ending December 31, 2025. In 2025, the group focused on the development strategies of “technological advancement, internationalization, and ecological sustainability,” maintaining stable overall performance. Progress was made in market expansion, operational management, technological innovation, and ecological construction.

Core Financial Data Remain Steady, Revenue Structure Continues to Optimize

Luan Zusheng, Executive Director and President of Everbright Environment, stated that in 2025, the company concentrated on its core businesses, promoted revenue growth and risk prevention, and deepened the “Two Modernizations and One Model” strategy and “Second Entrepreneurship,” laying a solid foundation for the “14th Five-Year Plan.”

According to reports, in 2025, Everbright Environment achieved approximately HKD 27.521 billion in revenue, with a gross profit of about HKD 11.085 billion. Earnings before interest, taxes, depreciation, and amortization (EBITDA) were approximately HKD 10.273 billion. The profit attributable to the company’s equity holders was about HKD 3.925 billion, with a basic earnings per share of HKD 0.639. The company’s revenue structure further improved, with operational services accounting for 72%, construction services 10%, and financial income 18%, with steady growth in the proportion of operational service revenue.

As of December 31, 2025, Everbright Environment’s total assets were approximately HKD 189 billion, with a debt-to-asset ratio of 62%. Cash holdings amounted to about HKD 10.5 billion, maintaining stable financial health. Notably, to reward shareholders, the board proposed a final dividend of HKD 0.12 per share for 2025 (2024: HKD 0.09), bringing the total annual dividend to HKD 0.27 per share (2024: HKD 0.23), with a payout ratio of 42.3%, an increase of 0.5 percentage points from 2024.

In 2025, Everbright Environment received multiple industry and social responsibility recognitions, ranking first for the seventh consecutive year among “Top 50 Chinese Environmental Protection Companies by Revenue,” and for the fifteenth consecutive year among “Top 10 Influential Solid Waste Companies in China.” It also received the “Hong Kong Environmental Excellence Award” from the Hong Kong SAR Government’s Environment and Ecology Bureau and the Environmental Movement Committee for the first time, and was included for the eighth time in the S&P Global “Sustainable Development Yearbook” and the FTSE Social Responsibility Index.

Simultaneous Expansion in Domestic and International Markets, Continuous Improvement in Business Layout

In 2025, Everbright Environment completed the investment in eight new projects with a total investment of approximately RMB 3.247 billion. It also signed new contracts for light asset businesses totaling about RMB 1.277 billion.

Domestic market development focused on core businesses, including the launch of the fifth phase (750 tons/day) of the Sanya waste-to-energy project in Hainan, signing a zero-carbon energy project construction investment agreement in Daxing, Beijing, acquiring a wastewater treatment project for cosmetics industry in Huadu, Guangzhou, and establishing its first biomass natural gas project in Jingjiang, Jiangsu. Collaborative efforts in heating and steam supply also progressed.

In overseas markets, aligned with the Belt and Road Initiative, the company established three overseas offices in Vietnam, Indonesia, and Central Asia, shifting overseas expansion from “project-driven” to “regionally deepened” development. It secured two waste-to-energy projects in Uzbekistan (3,000 tons/day), continued exploring opportunities in Southeast Asia markets such as Vietnam and Indonesia, and won or signed contracts for light asset projects in Thailand, Malaysia, Egypt, Italy, and Turkey, setting new records for overseas equipment sales.

By December 31, 2025, Everbright Environment’s operations covered 24 provinces, autonomous regions, municipalities, and one special administrative region in China, and 16 countries abroad. It had invested in 605 environmental projects with a total investment of about RMB 164.7 billion, including 196 waste-to-energy projects with a designed daily capacity of over 160,000 tons of municipal solid waste (including entrusted operations).

Increased Investment in Technological Innovation, Autonomous R&D Achievements Implemented

In 2025, Everbright Environment focused on technological development, advancing innovation across the entire value chain. It developed proprietary carbonization processes and key performance indicator systems, built a 100-ton/day waste carbonization process package, and created an autonomous process package for fly ash recycling and treatment. It completed straw “neutral gas explosion + enzymolysis” experiments and developed a 10-ton/day micro grate furnace with complete equipment manufacturing.

In terms of technology transfer, the anaerobic ammonia oxidation system was successfully commissioned at the Ninghai waste-to-energy project in Zhejiang, marking its first application in China’s waste-to-energy projects. The high-efficiency biogas production technology from waste incineration was implemented at the Xidong project in Wuxi, Jiangsu, enabling biogas sales. Equipment for high-efficiency thermal decomposition of used power batteries and valuable component recovery supported the construction of Jiangsu’s first full-industry chain battery recycling demonstration project.

Regarding smart factory construction, the company promoted unmanned operation of slag cranes and other intelligent power plant technologies, implemented digital applications such as “black-light” factories and AI image recognition inspections, and improved automation levels in wastewater treatment projects. It actively participated in standard-setting, undertaking two national standards and one key R&D project. In 2025, it obtained 191 new authorized patents, bringing its total to over 2,300.

Chairman Wang Silian stated that in 2026, the company will aim to become a “world-class environmental enterprise,” focusing on key battles such as leading position, innovation, and international market expansion to promote high-quality development.

Text | Reporter Liao Mengjun

Images | Provided by interviewees