Second-Quarter Revenue Falls Short of Expectations, Gross Margin Rises
Hongde Energy posted second-quarter revenue of NT$1.755 billion, falling below market expectations due to delays in domestic solar engineering project construction. However, the company achieved a gross margin of 28.1%, outperforming initial estimates, driven by an increased share of high-margin businesses such as energy management, operations, asset management, and platform services. This improvement reflects a gradual enhancement of its operational structure.
Analysts noted that while Hongde Energy’s profitability for the year has been revised downward due to deferred engineering revenue recognition and external factors, the company’s long-term development direction remains unchanged. Hongde Energy is shifting from a traditional engineering, procurement, and construction (EPC) model toward an energy platform, reducing reliance on one-time engineering projects and focusing on high-value-added businesses such as green power trading, energy management, and asset management.
Australia Energy Storage Project Enters Equipment Shipment Phase
Hongde Energy’s Dartmoor energy storage project in Australia, with a capacity of 70 MW/560 MWh, is expected to begin equipment shipments in 2026, marking the company’s entry into the harvest phase of large-scale energy storage development. This project will create synergies with Japan’s GPLP green energy asset platform, energy storage commercialization, and power trading services, accelerating the company’s transformation.