TG SMART ENERGY (01083) released its interim results, with revenue of HKD 11.328 billion, an increase of 8.54% year-on-year.

TG SMART ENERGY (01083) announced its interim results for 2026, reporting a revenue of HKD 11.328 billion, an increase of 8.54% year-on-year; profit attributable to shareholders amounted to HKD 690 million; basic earnings per share were HKD 0.188; and an interim dividend of HKD 0.05 per share is proposed. In terms of the mainland gas business, facing a real estate sector that has not fully recovered and a warm winter that led to a decline in national natural gas consumption, the group actively seizes policy opportunities such as "energy transition" and the "renovation and upgrade of old urban facilities," and continues to vigorously expand its "Gas+" comprehensive energy business to drive growth in gas sales volume. The adjustment of residential gas prices is being steadily implemented, with the overall urban gas price difference rising by 2 cents RMB to RMB 0.59 cubic meter, resulting in steady growth in overall gas business profits. Regarding renewable energy, during the period, 0.2 GW of distributed photovoltaics were newly connected to the grid, bringing the cumulative installed capacity to 3 GW; photovoltaic sales increased by 12% to 1.32 billion kilowatt-hours; and electricity trading volume doubled to 7.23 billion kilowatt-hours. The group successfully issued inter-institutional REITs and similar REITs, raising approximately RMB 900 million, with a cumulative financing scale reaching RMB 5.5 billion, actively investing in related projects. The assets under management (AuM) increased by 0.66 GW year-on-year to 1.5 GW, and continues to develop in three main areas: integrated solar storage, independent energy storage, and green electricity direct connection. 2026 marks the first year of the country's 14th Five-Year Plan, with policies clearly aiming to build a new energy system in an orderly manner and establishing 100 national-level zero-carbon parks, closely aligning with the groups business advantages. With the further deepening of the mainlands electricity market reform, the industry is set to achieve higher-quality development. Photovoltaic asset management and market-oriented electricity sales will become the core driving forces of the groups future performance growth.