Corporate Governance - The board held two regular meetings during the year ending December 31, 2023, with attendance details showing all directors participated in at least one meeting[3]. - The audit committee conducted two meetings during the year, reviewing interim and annual performance, financial status, and risk management[6]. - The company has complied with the listing rules requiring at least three independent non-executive directors, with one possessing appropriate professional accounting qualifications[11]. - The remuneration committee includes three independent non-executive directors and the chairman, overseeing the compensation policies for directors and senior management[12]. - The board emphasizes a culture of integrity, requiring all directors and management to adhere to a code of conduct regarding ethics and conflicts of interest[10]. - The average age of executive directors is 56 years, while independent non-executive directors average 68 years[10]. - The company plans to appoint a new independent non-executive director at the upcoming annual general meeting due to the tenure of current independent directors exceeding nine years[11]. - The company provided training and resources to directors to ensure they remain updated on their responsibilities and the company's operations[2]. - The board's primary focus is on overall strategic development, while management is responsible for operational execution[10]. - The company has established sufficient measures to ensure effective communication among directors[14]. - The company maintained compliance with the corporate governance standards throughout the year, with no changes in board composition[175][176]. - The risk management and internal control systems were deemed sufficient and effective by the board, ensuring the management of significant risks[180]. Financial Performance - The company achieved a revenue of RMB 1.934 billion and a net profit of RMB 202 million in 2023[49]. - Revenue decreased by 12.3% to RMB 1.934 billion, with solid waste treatment and electricity sales increasing by 2.7% to RMB 1.135 billion, while construction and related services revenue fell by 47.5% to RMB 476 million[84]. - Gross profit decreased by 10.2% to RMB 607 million, with an overall gross margin increase from 30.7% to 31.4%[85]. - Net profit for the year was RMB 202 million, a decrease of 28.4% compared to RMB 282 million in the previous year[89]. - Total assets and liabilities as of December 31, 2023, were RMB 9.897 billion and RMB 6.241 billion, respectively, reflecting decreases of RMB 674 million and RMB 890 million year-on-year[92]. - The net carrying amount of the company's concession rights decreased by RMB 32 million to RMB 2.720 billion, with additions of RMB 148 million and amortization of RMB 165 million recognized[95]. - Other income increased by RMB 5 million to RMB 93 million, driven by VAT refunds and interest income[86]. - Administrative expenses increased by 27.4% to RMB 228 million, primarily due to higher costs in corporate management and ecological construction services[72]. - Financial costs rose by 17.7% to RMB 166 million, with bank loan interest contributing RMB 48 million and interest from Idata Finance Trading Limited at RMB 41 million[74]. - The gross profit margin for waste incineration and power generation was 45.2%, down from 47.4% in the previous year[71]. - The operating profit margin decreased to 21.8% in 2023 from 22.3% in 2022[134]. - The net profit margin for 2023 was 10.4%, down from 12.8% in the previous year[134]. - The average return on equity was 5.7% in 2023, compared to 8.6% in 2022[134]. - The current ratio dropped to 0.74 in 2023 from 2.58 in 2022[134]. - The debt ratio (total liabilities/total assets) improved to 63.1% in 2023 from 67.5% in 2022[134]. - The net debt to total equity ratio was 88.2% in 2023, down from 93.8% in 2022[134]. - The group’s total bank and other borrowings amounted to RMB 4.436 billion, with a weighted average interest rate decreasing from approximately 4.0% to 3.6%[100]. - Deferred income increased by RMB 1 million to RMB 154 million, mainly due to government subsidies for solid waste treatment operations[101]. - The group's trade payables increased by RMB 184 million to RMB 860 million, with RMB 263 million still unbilled[113]. - The group’s trade receivables increased by RMB 149 million to RMB 707 million, including RMB 395 million from grid-connected electricity receivables[110]. - Employee costs totaled RMB 298 million, an increase of 11.6% compared to RMB 267 million last year[118]. - As of December 31, 2023, the group's cash and cash equivalents amounted to RMB 1.21 billion, with approximately 87% denominated in RMB[133]. - The group's inventory, mainly consisting of coal and consumables for solid waste treatment plants, remained stable at RMB 43 million[97]. - The group's other intangible assets increased by RMB 13 million to RMB 51 million, primarily including operating rights/licenses valued at RMB 34 million and computer software at RMB 17 million[96]. Operational Highlights - A total of 4.2082 million tons of waste and 390,800 tons of sludge were processed during the year, with electricity generation reaching 1.349 billion kWh[49]. - In 2023, the company processed a total of 4.208 million tons of municipal waste, averaging 11,529 tons per day, representing a year-on-year increase of 9.7%[53]. - The total electricity generated was 1.604 billion kWh, reflecting a year-on-year growth of 14.3%, while the grid-connected electricity amounted to 1.349 billion kWh, up 16.1% year-on-year[53]. - The sludge treatment volume increased significantly by 83.2% year-on-year to 390,800 tons, while the hazardous and medical waste intake decreased by 37.9% to 5,788 tons[53]. - The company has expanded its waste incineration capacity to 12,475 tons per day following the completion of the Zhangjiagang project[66]. - In 2023, the ecological construction service segment secured 59 new contracts with a total value of approximately RMB 1.36 billion, achieving a revenue of RMB 323 million, a 67% increase year-on-year[55]. - The company completed the expansion of the Zhangjiagang project with a waste treatment capacity of 2,250 tons per day, and construction for the Shiyan project commenced, targeting operational status by the end of 2024[81]. - A joint venture was established in June 2023, holding 90% equity, for the investment, construction, and operation of the Shiyan project, with an estimated total investment of RMB 459 million planned to commence operations by the end of 2024[105]. - The company plans to continue enhancing operational management and expanding waste sources to improve business performance amid increasing competition in the solid waste market[48]. - The company is pursuing a light asset development strategy, emphasizing entrusted operations and urban services to enhance operational efficiency[69]. - The company aims to achieve its "14th Five-Year Plan" goals in 2024, amidst a challenging market environment, by enhancing project capacity utilization and promoting high-quality development[64]. Strategic Initiatives - The company plans to focus on solid waste market expansion and high-end waste treatment services, aiming to become a leading comprehensive environmental service provider in China[69]. - The company is focused on strategic development and market expansion initiatives[138]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[156]. - A strategic acquisition of a local competitor is anticipated to enhance operational efficiency and increase market penetration[156]. - Research and development expenditures increased by 20%, totaling $150 million, to support innovation in environmental solutions[156]. - The company aims to reduce operational costs by 5% through improved supply chain management[156]. - A new partnership with a leading technology firm is expected to enhance product offerings and drive future growth[156]. - New product launches are expected to contribute an additional $200 million in revenue, with a focus on sustainable technologies[156]. - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to 12%[156]. - The board of directors remains committed to maintaining a stable dividend policy, with a proposed dividend of $0.50 per share[156].

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 1,934,498 thousand, a decrease of 12.3% from RMB 2,205,356 thousand in 2022[2] - Gross profit for the same period was RMB 606,505 thousand, down from RMB 675,940 thousand, reflecting a decline in gross margin[2] - Operating profit decreased to RMB 422,175 thousand from RMB 491,242 thousand, representing a decline of 14.1%[2] - Profit before tax was RMB 255,977 thousand, down 26.8% from RMB 349,939 thousand in the previous year[2] - Net profit attributable to shareholders was RMB 190,954 thousand, a decrease of 37.1% compared to RMB 303,755 thousand in 2022[2] - Basic and diluted earnings per share decreased to RMB 12.73 from RMB 20.25, reflecting a significant drop in profitability[2] - EBITDA for the year was RMB 662 million, down 5% from RMB 698 million last year[66] - Profit attributable to shareholders for the year was RMB 191 million, a decrease of 37% from RMB 304 million last year[66] - Earnings per share for the year were RMB 0.127, compared to RMB 0.203 in 2022[66] - The net profit for the year was RMB 202,079,000, down from RMB 281,561,000 in the previous year, representing a decline of approximately 28%[83] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 9,897,162 thousand, down from RMB 10,571,045 thousand in 2022[9] - Non-current assets decreased to RMB 6,902,334 thousand from RMB 6,995,219 thousand, indicating a reduction in long-term investments[9] - Cash and cash equivalents significantly decreased to RMB 1,209,940 thousand from RMB 2,373,654 thousand, highlighting liquidity challenges[9] - The total liabilities of the group decreased to RMB 6.24 billion from RMB 7.13 billion, reflecting a reduction in non-current liabilities[69] - As of December 31, 2023, total assets were RMB 9.897 billion, and total liabilities were RMB 6.241 billion, a decrease of RMB 674 million and RMB 890 million respectively from the previous year[151] Revenue Segments - The solid waste treatment and electricity and steam sales generated revenue of RMB 1.135 billion, an increase of 2.7% from RMB 1.105 billion last year[39] - The revenue from waste incineration power plant construction, equipment sales, and related services decreased by 47.5% to RMB 476 million from RMB 907 million last year[39] - Revenue from solid waste treatment services increased to RMB 294,577,000 in 2023, up from RMB 277,853,000 in 2022, reflecting a growth of 6.2%[119] - Revenue from electricity sales was RMB 680,238,000, a slight decrease from RMB 695,547,000 in 2022[119] - The solid waste segment generated revenue of RMB 2,011,989,000, while the ecological construction segment contributed RMB 193,367,000[80] Operational Highlights - The company managed ten solid waste treatment projects in mainland China, with a daily waste processing capacity increased to 12,475 tons due to the completion of the Zhangjiagang project[110] - The total amount of waste processed reached 4.208 million tons, with a daily average of 11,529 tons, marking a 9.7% increase year-on-year[134] - The company achieved a power generation of 1.604 billion kWh, reflecting a year-on-year growth of 14.3%[134] - The sludge treatment volume increased by 83.2% year-on-year to 390,800 tons[134] - The company completed the expansion of a waste treatment project with a capacity of 2,250 tons per day, which commenced commercial operations in the first half of 2023[135] Governance and Compliance - The audit committee consists of three independent non-executive directors, including Dr. Cang Huan (chairman), Dr. Li Zuo Jin, and Dr. Jian Ping Wang, who reviewed the financial performance and approved the group's annual results for the year ending December 31, 2023[184] - The company's auditor agreed that the preliminary financial figures published for the year ending December 31, 2023, are consistent with the draft consolidated financial statements[184] - The board of directors comprises five executive directors and five independent non-executive directors, ensuring a balanced governance structure[187] - The company has complied with all applicable corporate governance code provisions as of December 31, 2023, except for those disclosed below[189] Future Plans - The company expects to transfer ownership of the existing plant in Zhangjiagang to government agencies by the end of 2024[30] - The company plans to continue expanding its solid waste treatment and ecological construction services in the upcoming year[86] - The company plans to focus on solid waste market expansion and high-end solid waste treatment services in 2024[136] - The company intends to divest its stake in the ecological construction segment to concentrate resources on solid waste market development[147] - The company plans to sell 51% of its subsidiary, Beijing Beikong Ecological Construction Group Co., Ltd., through a public listing on the Beijing Property Exchange, with a listing price of RMB 52,823,400[108]

Financial Performance - The group recorded revenue of HKD 1,225.11 million for the six months ended June 30, 2023, an increase of 5.2% compared to HKD 1,165.05 million in the same period last year[65]. - Revenue from production and operations was HKD 636 million, a 6.5% increase compared to the same period last year, with a gross profit of HKD 289 million, marking a 22.6% year-on-year rise[26]. - The company reported a net profit for the period of HKD 157.39 million, an increase of 11.3% from HKD 141.44 million year-on-year[73]. - The gross profit increased by 18.5% to HKD 389.91 million, with the overall gross profit margin rising from 28.2% to 31.8%[66]. - Operating profit for the period was HKD 283,605, up 10.9% from HKD 255,739 in the previous year[102]. - Profit attributable to shareholders for the six months was HKD 149,541, representing a 7.5% increase from HKD 138,827 in 2022[102]. Revenue Breakdown - The solid waste treatment segment generated revenue of HKD 1,074,393,000, up from HKD 1,041,463,000 in the previous year, reflecting a growth of about 3.2%[132]. - The ecological construction services segment reported revenue of HKD 150,717,000, an increase from HKD 123,591,000, marking a growth of approximately 21.9%[136]. - Revenue from electricity sales was HKD 388,042,000, up from HKD 350,464,000, representing a growth of approximately 10.7%[136]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 11,682,518,000, while total liabilities were HKD 7,573,571,000, indicating a healthy asset-to-liability ratio[132]. - The group's net current assets as of June 30, 2023, were HKD 2,043,165,000, a decrease from HKD 2,585,713,000 at the end of 2022[12]. - Total assets less current liabilities stood at HKD 10,066,836,000, down from HKD 10,638,754,000 in December 2022[12]. - The total trade receivables and notes as of June 30, 2023, reached HKD 811,318,000, compared to HKD 660,683,000 as of December 31, 2022, indicating a 22.7% growth[158]. Cash Flow - Operating cash flow for the six months ended June 30, 2023, was HKD 99,471,000, a significant improvement from a cash outflow of HKD 31,376,000 in the same period of 2022[115]. - Net cash flow from operating activities was HKD 42,569,000, compared to a net cash outflow of HKD 51,852,000 in the previous year[115]. - Cash flow used in investing activities totaled HKD 213,734,000, an increase from HKD 152,402,000 in the prior year, primarily due to higher expenditures on acquisitions[115]. Capital Expenditure - The company invested HKD 294,002,000 in property, plant, and equipment during the six months ended June 30, 2023, compared to HKD 160,470,000 in the same period of 2022, indicating a significant increase in capital expenditure[132]. - The group's capital expenditure totaled HKD 294 million, with HKD 282 million allocated for the construction and renovation of waste incineration plants[95]. Management and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the interim results and financial status for the six months ending June 30, 2023[46]. - The board is responsible for the risk management and internal control systems, which are regularly reviewed[47]. - The group has taken measures to ensure effective communication among directors, holding meetings as necessary[47]. Shareholder Information - The company’s major shareholder, Idata, holds 49.23% of the total issued shares, while Beijing Enterprises holds 50.40%[41]. - The company maintains that at least 25% of its issued shares are held by the public[40]. - The group did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[148]. Interest and Financing - The group reported interest expenses of HKD 22,705,000 to Idata, consistent with the previous year[3]. - The company incurred interest payments of HKD 74,357,000, which increased from HKD 40,789,000 in the same period last year[115]. - The company’s total assets and liabilities are independently managed by each operating segment, reflecting a strategic approach to resource allocation[123].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於香港註冊成立的有限公司） 154 （股份代號： ） 截至二零二三年六月三十日止六個月 簡明中期業績公佈 摘要 • 12.25 截至二零二三年六月三十日止六個月，本集團之收入為 億港元，較去年 11.65 5% 同期之 億港元增加約 。 • 4.07 3.65 期內息稅折舊攤銷前溢利為 億港元，較去年同期之 億港元增加約 12% 。 • 1.50 1.39 8% 本公司股東應佔期內溢利為 億港元，較去年同期之 億港元增加約 。 • 10 每股基本盈利為 港仙。 ...

Financial Performance - In 2022, the company achieved a revenue of HKD 2.564 billion, a pre-tax profit of HKD 407 million, and a net profit of HKD 327 million, with total assets reaching HKD 12.167 billion[14]. - The company recorded a total revenue of HKD 2.564 billion, an increase of 6.0% from HKD 2.419 billion in the previous year[22]. - The gross profit for the year was HKD 786 million, representing a 31.2% increase from HKD 599 million last year, with a gross margin rising from 24.8% to 30.7%[24]. - The solid waste treatment and electricity and steam sales generated revenue of HKD 1.285 billion, up 12.7% from HKD 1.140 billion in the previous year[22]. - The company reported a profit for the year ending December 31, 2022, with financial details available on pages 41 to 135 of the financial statements[118]. - The net profit for the year was HKD 327,396,000, compared to HKD 245,617,000 in 2021, marking a 33.2% increase[186]. - Operating profit increased to HKD 571,212,000 in 2022, up 68.3% from HKD 339,089,000 in the previous year[186]. - Profit before tax rose to HKD 406,906,000, a 51.6% increase from HKD 268,576,000 in 2021[186]. - The company reported a significant increase in financial costs, which rose to HKD 164,306,000 in 2022 from HKD 70,513,000 in 2021, an increase of 132.00%[195]. Waste Processing and Environmental Impact - The total amount of municipal solid waste processed was 3.837 million tons, with an average daily intake of 10,513 tons, representing a year-on-year increase of 13.2%[16]. - The company generated 1.402 million megawatt-hours of electricity, marking a year-on-year growth of 2.6%, and sold 1.161 million megawatt-hours, which is a 3.4% increase from the previous year[16]. - The sludge disposal business achieved a total of 213,000 tons processed during the year[14]. - The company processed 93,160 tons of hazardous and medical waste during the year[16]. - The company processed solid waste with improved efficiency through ongoing technical upgrades and management improvements[144]. - The company is committed to sustainable development and actively invests in energy-saving and emission-reduction technologies[144]. Operational Capacity and Projects - The company expanded its operational capacity with the addition of two new waste-to-energy projects, increasing the daily waste processing capacity to 11,125 tons[16]. - The solid waste treatment segment recorded an operating income of HKD 1.285 billion, reflecting a 12.7% increase compared to the previous year, with a gross profit of HKD 608 million, up 38.5%[16]. - The company plans to continue exploring new business markets and improving profitability through project investment and operational management[14]. - The company has established good relationships with local government agencies and power authorities, which are key clients for its solid waste treatment business[146]. Assets and Liabilities - Total assets and liabilities as of December 31, 2022, were HKD 12.167 billion and HKD 8.057 billion, respectively, reflecting increases of HKD 1.247 billion and HKD 1.132 billion from the previous year[35]. - The company's total liabilities rose significantly to HKD 8,057,430,000 in 2022, up from HKD 6,925,255,000 in 2021, marking an increase of 16.35%[192]. - The group's cash and cash equivalents stood at HKD 2.697 billion, with total bank and other borrowings amounting to HKD 6.363 billion[52]. - The total non-current liabilities surged to HKD 6,528,958,000 in 2022 from HKD 1,857,332,000 in 2021, representing an increase of 251.00%[192]. Governance and Management - The board of directors consists of five executive directors, including one female director, and five independent non-executive directors[77]. - The company emphasizes a culture of integrity and requires all directors and management to adhere to a code of conduct related to integrity and ethical behavior[77]. - The company has established internal control and risk management systems to monitor the execution of business plans[77]. - The board is responsible for corporate governance functions, including the formulation and review of governance policies and compliance with legal regulations[97]. - The company has established an audit committee in compliance with Listing Rule 3.21, consisting of three independent non-executive directors[87]. Employee and Social Responsibility - The total employee cost for the year was HKD 310 million, an increase of 6.2% from HKD 292 million in the previous year, with 1,324 employees as of December 31, 2022, down from 1,399 employees in the previous year[60]. - As of December 31, 2022, approximately 21% of the group's employees were female, with ongoing efforts to enhance gender diversity in hiring[107]. - The company emphasizes employee welfare and regularly reviews policies related to training, occupational health, and safety[146]. Cash Flow and Financing - Operating cash flow for 2022 was HKD 759,180,000, a substantial increase from HKD 205,149,000 in 2021, reflecting a growth of 269.57%[195]. - The net cash flow from investing activities for the year 2022 was a negative HKD 539,111,000, an improvement from a negative HKD 729,768,000 in 2021[197]. - The company generated a net cash flow from financing activities of HKD 1,078,177,000 in 2022, compared to HKD 553,607,000 in 2021, indicating a significant increase in financing activities[197]. - The company made new bank loans totaling HKD 1,220,586,000 in 2022, which is a 77.2% increase from HKD 689,558,000 in 2021[197].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於香港註冊成立的有限公司） 154 （股份代號： ） 截至二零二二年十二月三十一日止年度 之年度業績公佈 摘要 • 25.6 24.2 6% 年內，本集團之收入為 億港元，較去年的 億港元增加 。 • 8.11 5.35 52% 年內，息稅折舊攤銷前溢利為 億港元，較去年的 億港元增加 。 • 3.53 2.64 34% 本公司股東應佔年內溢利為 億港元，較去年的 億港元增加 。 • 23.5 17.6 年內，每股基本盈利為 港仙（二零二一年： 港仙）。 • 2.5 於二零二二年十二月三十一日，本公司股東應佔每股淨資產為 港元（二零 2.39 ...

Financial Performance - The company recorded revenue of HKD 1,165.05 million for the six months ended June 30, 2022, representing a 21.9% increase from HKD 956.12 million in the same period last year [26]. - Gross profit for the same period was HKD 329.02 million, with a gross margin decrease from 30.4% to 28.2% [27]. - The solid waste treatment and electricity and steam sales generated revenue of HKD 597.45 million, up 3.4% from HKD 577.81 million year-on-year [26]. - Revenue from waste incineration plant construction and related services surged by 108.8% to HKD 444.01 million, compared to HKD 212.63 million in the previous year [26]. - The company reported a total comprehensive loss of HKD 33,138,000 attributable to shareholders for the period, compared to a comprehensive income of HKD 195,091,000 in the previous year [67]. - The net profit attributable to shareholders for the period was HKD 138,827,000, slightly up from HKD 138,555,000 in the previous year [65]. - The company reported a net profit of HKD 155,968,000 for the six months ended June 30, 2022, compared to HKD 190,162,000 in the previous year [109]. Capital Expenditures and Investments - Capital expenditures for solid waste incineration plant construction during the period amounted to approximately HKD 160 million [20]. - The company incurred capital expenditures of HKD 63,866,000 for property, plant, and equipment during the six months ended June 30, 2022, compared to HKD 34,294,000 in the same period of 2021, reflecting an increase of about 86% [78]. - The company acquired property, plant, and equipment totaling HKD 160,470,000 during the six months ended June 30, 2022, down from HKD 273,897,000 in the same period of 2021 [105]. Operational Highlights - In the first half of 2022, the group processed 1.89 million tons of municipal solid waste, with an average daily intake of 10,432 tons, representing a year-on-year increase of 15.7% [18]. - The group achieved a total electricity generation of 687,332 MWh, reflecting a year-on-year increase of 5.8% [18]. - The group operates ten solid waste treatment projects, including nine municipal solid waste incineration power projects with a daily processing capacity of 11,125 tons [16]. - The group is expanding its business into solid waste treatment, including organic waste, oil sludge, fly ash, and other materials, to create new profit growth points [21]. Financial Position - The company's net assets decreased by HKD 4.54 million to HKD 394.98 million as of June 30, 2022 [40]. - Total assets as of June 30, 2022, amounted to HKD 11,146,730,000, an increase from HKD 10,920,534,000 at the end of 2021 [70]. - The group's total liabilities to total assets ratio was 64.6%, slightly up from 63.4% at the end of the previous year [57]. - The company's total equity as of June 30, 2022, was HKD 3,949,843,000, compared to HKD 3,835,988,000 as of June 30, 2021, reflecting an increase of approximately 3% [75]. Cash Flow and Liquidity - Cash flow from operating activities for the six months ended June 30, 2022, was a net outflow of HKD 51,852,000, an improvement from a net outflow of HKD 139,305,000 in the same period of 2021 [78]. - The company's cash and cash equivalents amounted to HKD 1,678.97 million, with approximately 84% denominated in RMB [54]. - The company's cash flow from financing activities included new bank loans of HKD 279,341,000 for the six months ended June 30, 2022, compared to HKD 281,451,000 in the same period of 2021, showing a slight decrease of about 0.4% [78]. Debt and Liabilities - Financial costs rose significantly by 109.2% to HKD 79.19 million, driven by increased bank loan interest and other borrowings [34]. - Total bank and other borrowings rose to HKD 5,632,385,000 as of June 30, 2022, compared to HKD 1,672,864,000 as of December 31, 2021, indicating a substantial increase of approximately 236.5% [139]. - The company's lease liabilities rose significantly to HKD 47,564,000 from HKD 14,981,000, representing an increase of about 217.5% [149]. Shareholder Information - Major shareholders include Idata with 738,675,000 shares (49.23%) and Beijing Holdings with 756,120,000 shares (50.40%) as of June 30, 2022 [176]. - The company has maintained a public float of at least 25% of its total issued shares as of the report date [180]. Governance and Compliance - The board of directors has complied with all applicable code provisions of the corporate governance code during the six months ended June 30, 2022 [183]. - The audit committee consists of three independent non-executive directors, including Dr. Wan Guocang as the chairman [187]. - The company has adopted the standard code for securities transactions by directors and confirmed compliance during the reporting period [185].

Financial Performance - Total assets reached HKD 10.92 billion, with operating revenue of HKD 2.42 billion and net profit of HKD 246 million, marking an increase compared to 2020[33] - The pre-tax profit for the year was HKD 269 million, demonstrating a solid financial performance amidst a complex economic environment[33] - The group achieved a total revenue of HKD 2.42 billion in 2021, a 35% increase from HKD 1.79 billion in 2020[42] - The overall gross profit for the group was HKD 599 million, a 13% increase from HKD 531 million in the previous year, although the gross margin decreased from 29.7% to 24.8%[44] - EBITDA for the year was HKD 535 million, an increase of 22% or HKD 97 million compared to HKD 438 million last year[50] - Net profit for the year was HKD 246 million, a 59% increase or HKD 91 million from HKD 155 million in the previous year[50] - The ecological construction segment's revenue fell by 53% to HKD 194 million, resulting in a loss of HKD 28 million for the year[40] - The group recorded other income and gains of HKD 75 million, a decrease from HKD 94 million in the previous year, primarily due to reduced VAT refunds[46] Waste Management Operations - The total waste processed was 3.77 million tons, with 3.20 million tons incinerated, resulting in electricity generation of 1.368 billion kWh, reflecting over 5% growth in all metrics compared to 2020[33] - The solid waste treatment segment processed a total of 3.39 million tons of municipal waste in 2021, averaging 9,283 tons per day, an increase of 2.7% year-on-year[37] - The group recorded operating revenue of HKD 1.14 billion from solid waste treatment, a growth of 9.2% compared to the previous year, with a gross profit of HKD 439 million, up 19%[42] - The waste-to-energy project remains a core focus, with plans for collaborative treatment of various solid wastes[34] - The group generated a total of 1,367,866 MWh of electricity, reflecting a 7.7% increase, with electricity sales reaching 1,123,193 MWh, up 8.2%[37] Strategic Initiatives - The company aims to enhance its service capabilities in the environmental market by focusing on innovative thinking and developing emerging business models[34] - Future strategies include expanding urban public services and improving technical capabilities through research and application of innovative technologies[34] - The company plans to establish a comprehensive risk prevention system to enhance internal control efficiency and drive sustainable growth[34] - The group plans to focus on expanding sludge disposal services and controlling raw material costs to enhance revenue streams and reduce operational risks in 2022[41] - The company is committed to becoming a reliable comprehensive environmental service provider, emphasizing accountability and trustworthiness[34] Governance and Compliance - The board confirmed compliance with corporate governance standards throughout the fiscal year[95] - The board consists of five executive directors and five independent non-executive directors, ensuring compliance with listing rules regarding board composition[98] - The company adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience to enhance governance and business objectives[101] - The company emphasizes a culture of integrity and compliance with ethical standards among all board members and management[101] - The company has established an internal audit department to regularly review its internal control systems[131] Shareholder and Financial Management - The company reported no dividend payment for the fiscal year ending December 31, 2021[143] - The company aims to provide stable and sustainable returns to shareholders through its dividend policy[136] - The company has no distributable reserves as of December 31, 2021[147] - The company has not purchased, redeemed, or sold any of its listed securities during the year[146] - Major shareholders holding 5% or more of the company's issued shares include Beijing Enterprises Group (BVI) with 49.23% and Khazanah Nasional Berhad with 23.13%[172] Employee and Operational Efficiency - Employee costs increased by 31% to HKD 292 million from HKD 223 million in the previous year, with the workforce growing to 1,399 employees[77] - Operational costs were reduced by 5% due to improved efficiency measures implemented during the year[89] - The company continues to improve employee welfare and training policies, emphasizing work-life balance and regular sports activities[179] Risk Management - The company has implemented a risk management and internal control system, focusing on significant risks such as safety production and financial security[131] - The management conducts annual impairment tests for goodwill and assesses other non-financial assets for impairment indicators, performing impairment evaluations if such indicators exist[199] - The impairment assessment of non-financial assets has been identified as a key audit matter due to significant balances and management's judgments and estimates involved[200]

Financial Performance - For the six months ended June 30, 2021, the group recorded revenue of HKD 956.12 million, an increase of 60% compared to HKD 599.09 million in the same period last year[32]. - The gross profit for the same period was HKD 290.73 million, up 64% from HKD 177.71 million, with a gross margin increase from 29.7% to 30.4%[33]. - The net profit for the period was HKD 15.60 million, representing a 61% increase from HKD 9.68 million in the previous year[42]. - Total comprehensive income for the period was HKD 217,327,000, significantly higher than HKD 5,883,000 in 2020[73]. - Basic earnings per share attributable to shareholders was HKD 9.23, compared to HKD 6.16 in the previous year, reflecting a 49.5% increase[70]. - The operating profit for the group was HKD 234,117,000, compared to an operating loss of HKD 37,849,000 in the previous year[101]. - The net profit attributable to shareholders for the six months ended June 30, 2021, was HKD 138,555,000, a significant increase from HKD 92,453,000 in the same period of 2020[101]. Revenue Sources - Revenue from solid waste treatment business was HKD 578 million, a 26.8% increase from the previous year, with a gross profit of HKD 229 million, reflecting a 62.5% growth[24]. - The income from solid waste treatment and electricity and steam sales was HKD 577.81 million, a 27% increase from HKD 455.82 million year-on-year[34]. - The company reported a significant increase in revenue from electricity sales, which reached HKD 330,313,000, up from HKD 279,912,000 in the previous year[107]. - Customer contract revenue from solid waste treatment was HKD 437,642,000, while ecological construction services contributed HKD 116,824,000, totaling HKD 554,466,000[111]. Assets and Liabilities - The group’s total assets and total liabilities as of June 30, 2021, were HKD 1,012,153 million and HKD 628,555 million, respectively, reflecting increases of HKD 36,898 million and HKD 12,456 million since December 31, 2020[46]. - The group's total assets as of June 30, 2021, amounted to HKD 10,121,533,000, an increase from HKD 9,752,553,000 at the end of 2020[78]. - Total liabilities as of June 30, 2021, were HKD 6,285,545,000, compared to HKD 6,160,988,000 at the end of 2020[78]. - The group's net current liabilities as of June 30, 2021, were HKD 2,019,832,000, compared to HKD 2,147,086,000 as of December 31, 2020[157]. Capital Expenditures and Investments - Capital expenditures totaled HKD 273.90 million, primarily for the construction and renovation of waste treatment plants[64]. - The company invested HKD 273,897,000 in property, plant, and equipment during the six months ended June 30, 2021, compared to HKD 138,864,000 in the same period of 2020[103]. - The group’s capital commitments as of June 30, 2021, amounted to HKD 1,181,142,000, up from HKD 1,037,676,000 on December 31, 2020[147]. Operational Highlights - The solid waste treatment segment processed a total of 1.63 million tons of municipal waste, averaging 9,014 tons per day, which is a 6.3% increase compared to the same period last year[24]. - Total electricity generation reached 649,949 MWh, representing a 12.6% increase year-on-year, while grid-connected electricity amounted to 550,867 MWh, up by 19.1%[24]. - The company operates eight municipal waste incineration power generation projects with a total processing capacity of 10,225 tons per day[22]. - The company has three waste-to-energy projects under construction, with a total waste processing capacity of 4,350 tons per day[22]. Market Development and Strategy - The company plans to deepen its market development efforts in key areas and expand its business scope, focusing on waste incineration projects and circular economy industrial parks[28][29]. - The company aims to adopt various strategies such as new projects, partnerships, and acquisitions to expand its market scale[28]. - The group generated over 90% of its revenue from customers in mainland China, indicating a strong market presence in that region[104]. Employee and Management Information - The group employed 1,247 staff, with total employee costs increasing by 29% to HKD 136.82 million[67]. - Total compensation paid to key management personnel for the six months ended June 30, 2021, was HKD 7,693,000, up from HKD 6,587,000 in the same period of 2020, representing an increase of approximately 16.8%[155]. Tax and Financial Costs - The effective tax rate for the period was 20.5%, significantly higher than 11.1% in the same period last year[41]. - The total tax expense for the period was HKD 40,300,000, compared to HKD 12,078,000 for the same period in 2020, reflecting a significant increase due to taxable profits in mainland China[118]. - Financial costs totaled HKD 42,344,000, which includes interest on bank loans and other borrowings of HKD 26,599,000, an increase from HKD 23,181,000 in the previous year[115]. Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring compliance with regulatory requirements[187]. - The board of directors has reviewed the operational and financial reports, budgets, and business plans regularly during the reporting period[188]. - The company has adopted the standard code for securities transactions by directors, confirming compliance during the reporting period[186].

北 京 控 股 環 境 集 團 有 限 公 司 BEIJING ENTERPRISES ENVIRONMENT GROUP LIMITED (股份代號 154) 2020 年 報 目錄 北京控股環境集團有限公司 – 二零二零年年報 公司資料 2 公司架構 3 財務概要 4 主席報告 5 管理層討論及分析 6 董事及高級管理人員之履歷資料 15 企業管治報告 董事會報告 獨立核數師報告 經審核財務報表 17 26 36 1 目錄 綜合損益表 41 | --- | --- | |----------------|-------| | | | | | | | | | | 綜合全面收益表 | 42 | | 綜合財務狀況表 | 43 | | 綜合權益變動表 | 45 | | | | | 綜合現金流量表 | 46 | | 財務報表附註 | 48 | | 五年財務概要 | 134 | 公司資料 二零二零年年報 – 北京控股環境集團有限公司 公司資料 | --- | --- | |-----------------------------|-------------------------| | | | | 董事會 | 註冊 ...