HK Stock Market Move | XINYI ENERGY (03868) rose nearly 17% in early trading, with a 24-year increase in revenue but a 12% decline in net profit. Final dividend increased compared to 23 years.

XINYI ENERGY (03868) rose nearly 17% in early trading, up 16.25% as of the time of writing, at HK$0.93, with a trading volume of HK$28.7313 million. In terms of news, XINYI ENERGY announced its annual results, with a revenue of RMB 2.44 billion in 2024, a year-on-year increase of 7%; a net profit of RMB 791 million, a year-on-year decrease of 12%; basic earnings per share of 9.55 cents; proposed final dividend of HK 2.7 cents per share, compared to HK 2.6 cents in the same period last year. Together with the interim dividend of HK 2.3 cents per share, a total dividend of 5 cents per share will be distributed for the year. The announcement stated that in the 2024 fiscal year, the electricity generated by the large CECEP Solar Energy power generation projects owned and operated by the group increased by 13.8% year-on-year. This growth is mainly due to the full-year operation of the CECEP Solar Energy power generation projects acquired in 2023 and the new acquisitions in 2024. However, grid integration restrictions, limited power generation losses, and increased frequency and volume of market-based electricity transactions partially offset the increase in electricity generation for the year ending December 31, 2024. Therefore, the group's income only achieved a growth of 7.0%.