Financial Performance - For the first half of 2023, the group reported a net profit attributable to shareholders of RMB 377.4 million, an increase of 3.1% compared to the same period last year[8]. - Total revenue for the first half of 2023 increased by 9.0% to RMB 4.0188 billion, driven by higher service concession operation maintenance income and construction revenue from ongoing projects[8]. - Gross profit rose by 15.5% to RMB 1.4377 billion, primarily due to new service concession arrangements[8]. - The group achieved a pre-tax profit of RMB 476.4 million, reflecting a 29.6% increase year-on-year[11]. - Basic earnings per share for the first half of 2023 were RMB 8.83, representing a 19.6% increase from RMB 7.38 in the same period last year[11]. - The total comprehensive income for the first half of 2023 was RMB 148.9 million, an increase of 11.7% compared to RMB 133.3 million in the previous year[11]. - The group reported a net profit after tax of RMB 593,632,000 for the six months ended June 30, 2023, compared to RMB 547,780,000 for the same period in 2022, indicating an increase of approximately 8.3%[34]. - The group reported a profit of RMB 5,920,175 thousand for the period, with total equity amounting to RMB 15,075,046 thousand as of March 31, 2023[17]. Cash Flow and Liquidity - As of June 30, 2023, the group's cash and cash equivalents stood at RMB 2.2 billion, indicating a healthy liquidity position[8]. - The group's cash flow from operating activities remains strong, supporting ongoing and future projects[8]. - The net cash generated from operating activities for the six months ended June 30, 2023, was RMB 929,789 thousand, compared to RMB 66,063 thousand for the same period in 2022[15]. - The group's cash and cash equivalents at the end of the reporting period were RMB 2.20 billion, down from RMB 2.51 billion as of December 31, 2022; net cash inflow from operating activities for the first half of 2023 was RMB 929.8 million[80]. Assets and Liabilities - As of June 30, 2023, the total current assets amounted to RMB 8,537,897 thousand, an increase from RMB 8,325,150 thousand as of December 31, 2022, reflecting a growth of approximately 2.55%[12]. - The total non-current assets reached RMB 33,082,954 thousand, up from RMB 32,220,065 thousand, indicating an increase of about 2.68%[12]. - The total assets of the company stood at RMB 41,620,851 thousand, compared to RMB 40,545,215 thousand at the end of 2022, representing a growth of approximately 2.65%[13]. - Current liabilities totaled RMB 9,150,527 thousand, an increase from RMB 7,887,162 thousand, marking a rise of about 16.04%[13]. - Non-current liabilities decreased slightly to RMB 17,367,163 thousand from RMB 17,843,481 thousand, showing a decline of approximately 2.66%[13]. - The total liabilities for the group as of June 30, 2023, were RMB 26,517,690,000, with the water and sludge treatment segment accounting for RMB 11,005,306,000[35]. Equity and Retained Earnings - The total equity of the company was RMB 15,103,161 thousand, up from RMB 14,814,572 thousand, reflecting an increase of about 1.95%[13]. - The company's retained earnings rose to RMB 3,902,397 thousand from RMB 3,682,917 thousand, reflecting an increase of approximately 5.95%[13]. - As of June 30, 2023, the group's total equity was RMB 15,103,161 thousand, reflecting a decrease in non-controlling interests by RMB 200,315 thousand[19]. - The group declared dividends amounting to RMB 132,902 thousand to equity shareholders during the period[21]. Financial Risks and Management - The group continues to face financial risks including foreign currency risk, interest rate risk, liquidity risk, and credit risk, with no changes to risk management policies since year-end[30]. - Management assessed the goodwill for impairment as of June 30, 2023, and determined that no impairment provision was necessary[29]. Operational Highlights - The company continues to explore new service concession opportunities and expand its market presence in the environmental sector[8]. - The group is actively responding to national strategies and policies, focusing on opportunities in the green industry, particularly in the Yangtze River Economic Belt and the Guangdong-Hong Kong-Macao Greater Bay Area[82]. - The group completed the grid connection of two wet waste biogas power generation units at the Baoshan Renewable Energy Utilization Center, which is expected to significantly improve waste treatment efficiency in the service area[83]. Dividends and Share Capital - The group announced an interim cash dividend of SGD 0.005 per share, with a tax rate of zero percent[85]. - The interim dividend will be paid on September 28, 2023, to shareholders recorded as of September 1, 2023[87]. - The company declared a final dividend of SGD 0.01 per ordinary share for the fiscal year 2022, which was approved on April 28, 2023, and paid on May 31, 2023[49].

新加坡證券交易所有限公司（「新交所」）、香港交易及結算所有限公司及香港聯合交易所 有限公司（「聯交所」）對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明， 並明確表示，概不對本公告全部或任何部分內容而産生或因依賴該等內容而引致的任何損失 承擔任何責任。 SIIC ENVIRONMENT HOLDINGS LTD. 上海實業環境控股有限公司* （在新加坡共和國註冊成立的有限公司） （香港股份代號：807） （新加坡股份代號：BHK） 截止2023年3月31日第一季度和前3個月 未經審計簡明中期財務報表和紅利公告 本海外監管公告乃根據證券及期貨條例第XIVA部及香港聯合交易所有限公司證券上市 規則第13.10B條之規定作出。 本季度報告乃依照新加坡證券交易所有限公司的有關規定編製。本報告所載之財務資 料乃根據新加坡國際財務報告準則編製且未經核數師審計及審閱。上海實業環境控股 有限公司股東及公眾投資者在買賣本公司股份時應審慎操作。 | --- | --- | |------------------------------------------------------------------------- ...

Financial Performance - For FY2022, SIIC Environment reported a revenue increase of 14.3% year-on-year to RMB 8.304 billion and a net profit attributable to shareholders up 10.5% to RMB 780 million[11]. - The Group's revenue grew at an average annual rate of over 10% from FY2020 to FY2022, with net profit attributable to shareholders increasing at an average annual rate of approximately 10%[13]. - The Group's total revenue increased by 14.3% to RMB 8.304 billion in FY2022, with operating and maintenance income rising by 9.7% to RMB 4.704 billion[15]. - Profit attributable to owners of the Company for FY2022 was RMB 780.2 million, representing a 10.5% increase from the previous year[33]. - EBITDA for FY2022 reached RMB 2.6 billion, with a CAGR of 9.5% since FY2018[26]. - Total assets increased to RMB 40.5 billion in FY2022, marking an 8.1% growth compared to FY2021[34]. - Net assets rose to RMB 14.8 billion, showing a 5.5% increase from the previous year[34]. - The Group achieved a revenue of RMB 8.3 billion for FY2022, reflecting a CAGR of 11.8% since FY2018[25]. - The Group's revenue increased from RMB7.3 billion in FY2021 to RMB8.3 billion in FY2022, representing a growth of 14.3% driven by higher construction activities and service concession income[35]. - Profit attributable to owners of the Company rose from RMB706.2 million in FY2021 to RMB780.2 million in FY2022, reflecting a year-over-year increase of 10.5%[35]. Project Development and Capacity Expansion - In FY2022, SIIC Environment was awarded 13 new wastewater treatment and water supply projects with a total designed capacity of 367,200 tonnes per day[14]. - The Group completed upgrades and expansions for 7 existing wastewater treatment projects, increasing their total designed capacity by 880,000 tonnes per day[14]. - By the end of FY2022, SIIC Environment had nearly 250 wastewater treatment and water supply projects, with a total production capacity of 13.04 million tonnes per day[14]. - The Group started commercial operations for 12 projects with a total design capacity of 1.13 million tonnes per day during FY2022[14]. - The Group added 13 new wastewater treatment and water supply projects in FY2022, with a total designed treatment capacity of 367,200 tonnes per day[17]. - The total capacity of nearly 250 wastewater treatment and water supply projects reached 13.04 million tonnes per day by the end of FY2022[17]. Strategic Focus and Market Position - SIIC Environment operates in 20 provincial-level administrative regions in China, reflecting its extensive market presence[13]. - The company is committed to expanding its market share in water and solid waste treatment while exploring opportunities in industrial wastewater treatment and renewable energy[6]. - The Group's strategic positioning and business model are aimed at consolidating its leading position in China's water and environmental protection industry[6]. - The Group plans to strengthen its strategic layout in the Yangtze River Delta and accelerate expansion in the Guangdong-Hong Kong-Macao Greater Bay Area[18]. - The Group aims to enhance its ESG management standards to unlock development potential and improve enterprise value[19]. - The Group will focus on M&A opportunities in high-quality businesses and accelerate digitization and low-carbon development[22]. Environmental and Operational Efficiency - SIIC Environment has a strong focus on green development and environmental conservation as part of its corporate mission[3]. - The Group's operating income from service concession arrangements contributed significantly to stable cash flow[31]. - The management is committed to improving operational efficiency and employee incentive policies to maintain its leading position in the water and environmental industry[24]. - The Group plans to enhance digital construction and low-carbon development in response to national policies[24]. Governance and Leadership - The company has a strong leadership team with members holding various significant positions in other organizations, enhancing its strategic network[100]. - The Group's overall corporate strategies and development are overseen by Mr. Zhou Jun, who has been the Chairman since May 2012[92]. - The Group emphasizes corporate governance and strategic oversight through its experienced board of directors and management team[92][93]. - The company is focused on corporate governance practices, including risk management and major funding proposals[86]. - The company is committed to establishing corporate governance practices in line with the SGX-ST Listing Manual and the HK CG Code to protect shareholders' interests and enhance long-term value[139]. Risk Management and Internal Controls - The Group's internal controls and risk management systems are deemed adequate and effective as of December 31, 2022, addressing financial, operational, compliance, and information technology control risks[195]. - The Audit Committee (AC) received no material non-compliance or weaknesses in internal controls during the year, indicating satisfactory internal controls for the business type and size[193]. - The Group has established a Risk and Investment Management Committee (RIMC) to oversee risk management and ESG matters, reporting directly to the Board[191]. - The RIMC is responsible for designing, implementing, and monitoring the risk management and internal control systems on an ongoing basis[191]. - The company has taken steps to address and implement relevant controls and mitigating measures for identified key risks[192]. Human Resources and Corporate Culture - The company emphasizes the importance of human resources management under Mr. Zhu's oversight, which is critical for organizational effectiveness[94]. - Continuous investment in human resources and management practices is a key strategy for enhancing service quality and operational performance[135]. - The company adheres to fair employment principles and complies with laws to ensure equal pay for equal work, thereby achieving gender diversity[162]. - The Company aims to ensure that Independent Non-Executive Directors are not over-compensated to maintain their independence[182]. Financial Management and Remuneration - The Remuneration Committee (RC) is composed entirely of Non-Executive Directors, with a majority being independent, ensuring transparency in remuneration policies[180]. - The RC is responsible for recommending a remuneration framework for Directors and key management personnel that aligns with market standards to attract and retain talent[180]. - The remuneration for Executive Directors and key management personnel includes fixed and variable components, with the variable component being performance-related and linked to the Group's performance[181]. - The Company does not have any share scheme under Chapter 17 of the Hong Kong Listing Rules following the expiry of the ESOS 2012 and ESAS on April 27, 2022[182].

Financial Performance - The net profit attributable to shareholders for the first nine months of 2022 reached RMB 571 million, an increase of 11.1% compared to the same period last year[7]. - Total revenue for the first nine months of 2022 increased by 14.1% to RMB 5.7878 billion, driven by growth in service concession operation maintenance income and accelerated construction project progress[7]. - Gross profit rose by 8.9% to RMB 1.932 billion, primarily due to the accelerated progress of construction projects and increased financial income[7]. - The profit before tax for the first nine months of 2022 was RMB 1.0999 billion, reflecting an increase of 5.7% compared to the previous year[10]. - The total comprehensive income for the period was RMB 499.3 million, a decrease of 41.4% compared to the previous year[10]. - Basic earnings per share for the period were RMB 7.96, representing a 13.2% increase from RMB 7.03 in the same period last year[10]. - The company reported a net profit after tax of RMB 843,774 for the nine months ended September 30, 2022, compared to RMB 798,035 for the same period in 2021, reflecting a growth of approximately 5.7%[38][39]. Financial Position - As of September 30, 2022, the group's cash and cash equivalents amounted to RMB 2.83 billion, indicating a healthy financial position[7]. - As of September 30, 2022, the total current assets amounted to RMB 8,397,203 thousand, an increase from RMB 7,491,647 thousand as of December 31, 2021, representing a growth of approximately 12.1%[11]. - The total non-current assets reached RMB 30,902,767 thousand, up from RMB 30,022,318 thousand as of December 31, 2021, indicating an increase of about 2.9%[12]. - The total assets of the group were RMB 39,299,970 thousand, compared to RMB 37,513,965 thousand at the end of the previous fiscal year, reflecting a rise of approximately 4.8%[12]. - The total current liabilities were RMB 8,987,105 thousand, a decrease from RMB 9,434,216 thousand as of December 31, 2021, showing a decline of about 4.7%[12]. - The total non-current liabilities increased to RMB 15,710,507 thousand from RMB 14,043,548 thousand, representing a growth of approximately 11.9%[12]. - The total equity attributable to the owners of the company was RMB 9,566,938 thousand, slightly up from RMB 9,532,511 thousand, indicating a marginal increase of about 0.4%[12]. Cash Flow and Investments - The net cash generated from operating activities for the nine months ending September 30, 2022, was RMB 269,272 thousand, a decrease from RMB 166,196 thousand in the same period of 2021[13]. - The company incurred a net cash outflow of RMB 71,550 thousand for the purchase of property, plant, and equipment during the nine months ending September 30, 2022, compared to RMB 35,122 thousand in the same period of 2021[14]. - The financing activities resulted in a net cash outflow of RMB 197,953 thousand for the nine months ending September 30, 2022, compared to an outflow of RMB 256,234 thousand in the same period of 2021[14]. - The company reported a financial income of RMB 27,854 thousand for the nine months ending September 30, 2022, compared to RMB 23,894 thousand in the same period of 2021[13]. - The group acquired intangible assets amounting to RMB 237,808,000 during the period, compared to RMB 206,365,000 for the nine months ended September 30, 2021[49]. Revenue Segments - The water and sludge treatment segment generated revenue of RMB 3,216,015 for the nine months ended September 30, 2022, compared to RMB 3,052,125 for the same period in 2021, marking an increase of approximately 5.4%[38][39]. - The solid waste power generation segment reported an operating profit of RMB 267,676 for the nine months ended September 30, 2022, compared to RMB 143,653 for the same period in 2021, indicating a substantial increase of about 86.4%[38][39]. - Revenue from construction services under franchise arrangements was RMB 772,574,000 for the three months ended September 30, 2022, compared to RMB 561,951,000 for the same period in 2021, reflecting a growth of about 37.5%[42]. Administrative and Financial Expenses - The group's administrative expenses increased by 11.5% to RMB 362.5 million, while financial expenses rose by 15.9% to RMB 523.2 million[10]. - Financial expenses for Q3 2022 and the first nine months amounted to RMB 186.1 million and RMB 523.2 million, respectively, reflecting an increase from RMB 160.6 million and RMB 508.9 million in the same periods of 2021[80]. Corporate Governance and Compliance - The company has complied with all provisions of the Corporate Governance Code during the reporting period[8]. - The board of directors confirmed that there are no significant issues leading to misstatements in the financial statements as of September 30, 2022[92]. - The company has obtained confirmation statements from all directors and executives as per the listing rules[93]. Future Outlook - The group plans to continue expanding its service concession operations and construction projects to drive future growth[7]. - The company plans to leverage national strategies and market demands to pursue acquisition opportunities in the water services industry, particularly focusing on projects like the Xicen Water Purification Plant in Shanghai[88]. - The company is positioned to capitalize on the significant growth potential in the solid waste disposal industry, with the Baoshan Renewable Energy Utilization Center project successfully commencing operations in September 2022[89].

Company Overview - SIIC Environment Holdings Ltd. operates approximately 250 wastewater treatment and water supply projects, 7 solid waste incineration projects, and 13 sludge treatment projects across 19 municipalities and provinces in China[7]. - The company is headquartered in Singapore and listed on both the SGX-ST and SEHK, indicating its strong market presence[6]. - The company has a robust operational history of over 15 years in the environmental protection industry in China[7]. - The company has shown tremendous growth and continues to increase its market share in China's environmental market[6]. Strategic Goals and Market Expansion - The company aims to expand its market share and efficiency in water and solid waste treatment, while exploring opportunities in industrial wastewater treatment, seawater desalination, and renewable energy[8]. - SIIC Environment is focused on consolidating its leading position in China's water and environmental protection industry through strategic expansion[10]. - The company is focused on expanding its market presence through the development of new projects and upgrades to existing facilities[26]. - The company is committed to environmental sustainability through its waste treatment and water purification initiatives[21]. Operational Capacity and Projects - The company operates multiple wastewater treatment projects with a total daily capacity of 1,000,000 tonnes across various provinces, including Fujian and Guangdong[26]. - The Anxi County Longmen Town WWTP Project has a daily capacity of 12,500 tonnes and is currently in operation, with upgrades planned[26]. - The Dongguan City Dalang Songshanhu Southern WWTP Project has a daily capacity of 100,000 tonnes and is also in operation, with government-led upgrades under construction[26]. - The Huizhou City Meihu Water Purification Center has a combined capacity of 200,000 tonnes from its first and second phases, currently in operation with upgrades planned to meet Superior Class I Standard A[27]. - The company holds a 100% interest in several projects, ensuring full control over operations and upgrades[27]. - The company is actively involved in upgrading existing facilities to meet higher water quality standards, including Class I Standard B and Superior Class I Standard A[26][27]. - The overall project progress indicates a robust pipeline of wastewater treatment facilities across multiple provinces, enhancing the company's market position[31]. Financial Performance - The Group's revenue increased from RMB3,300.0 million in 1HFY2021 to RMB3,686.9 million in 1HFY2022, representing an increase of 11.7%[60]. - Gross profit rose from RMB1,157.8 million in 1HFY2021 to RMB1,244.6 million in 1HFY2022, an increase of 7.5%[61]. - Profit for the period amounted to RMB547.8 million, up 3.6% compared to 1HFY2021[61]. - The Group's profit after tax attributable to owners increased from RMB332.7 million in 1HFY2021 to RMB366.0 million in 1HFY2022, representing a 10.0% increase[61]. - The increase in gross profit was driven by higher construction activities and financial income from service concession arrangements[75]. Shareholder Information - As of June 30, 2022, substantial shareholder S.I. Triumph Power Limited holds 986,929,551 ordinary shares, representing approximately 38.32% of the company's total shares[165]. - SIHL, as a controlled corporation, has interests in 1,268,485,926 ordinary shares, accounting for about 49.25% of the total shares[165]. - Value Partners Limited held a beneficial interest in 257,207,220 shares, representing approximately 9.99% of the total issued share capital[167]. - China Energy Conservation & Environmental Protection (Hong Kong) Investment Co., Limited held a beneficial interest in 223,712,917 shares, representing approximately 8.69% of the total issued share capital[167]. Employee and Administrative Information - Total employee benefits expenses for the six months ended June 30, 2022, were approximately RMB 382.6 million, an increase from approximately RMB 322.9 million for the same period in 2021[174]. - The Group had 6,249 employees as of June 30, 2022, compared to 6,283 employees as of June 30, 2021[174]. - Administrative expenses increased by 5.3% to RMB124.9 million in 2QFY2022 from RMB118.7 million in 2QFY2021, and by 4.0% to RMB222.4 million in 1HFY2022 from RMB213.9 million in 1HFY2021, driven by higher manpower costs[87][91]. Debt and Financial Management - Total borrowings increased to approximately RMB 17.94 billion as of June 30, 2022, compared to RMB 16.67 billion as of December 31, 2021, with 42.4% being unsecured credit facilities[116]. - The net debt to equity ratio attributable to owners of the Company was 1.54 as of June 30, 2022, compared to 1.46 as of December 31, 2021[130]. - The Group is actively monitoring market conditions and funding requirements to optimize its capital structure as needed[122]. Governance and Management Changes - The appointment of Mr. Yang Wei as an executive director aims to enhance the Group's relationship with government authorities[143]. - Mr. Yang has extensive experience in energy conservation and environmental advisory fields, contributing to the Group's strategic direction[144].

Financial Performance - SIIC Environment's revenue for FY2021 increased by 16.2% year-on-year to RMB 7.27 billion, while net profit attributable to shareholders rose by 11.1% to RMB 706 million[13][14]. - The Group recorded a revenue of RMB7.27 billion in FY2021, a solid YOY increase of 16.2%[17]. - Profit attributable to owners of the Company increased to RMB 706.2 million in FY2021, up 11.1% from RMB 635.3 million in FY2020[33]. - EBITDA for FY2021 was RMB 2.4 billion, reflecting a CAGR of 10.1% since FY2017[26]. - Total assets grew to RMB 37.5 billion in FY2021, a 7.9% increase from RMB 34.8 billion in FY2020[34]. - Net assets increased to RMB 14.0 billion in FY2021, up 7.8% from RMB 13.0 billion in FY2020[34]. - The Group's total assets and revenue have both increased by approximately 26 times since 2010, reaching RMB37.51 billion and RMB7,267 million, respectively[19]. - Net profit attributable to shareholders rose by more than 32 times from RMB22 million to RMB706 million[19]. - The Group's operating and maintenance income from service concession arrangements contributed significantly to revenue growth[35]. - Operating and maintenance income and financial income from service concession arrangements climbed by 13.6% to RMB4,287 million, driven by increased wastewater treatment volume and average treatment tariff[17]. Project Development and Capacity Expansion - The company was awarded 21 new water treatment projects in FY2021, with a total designed capacity of 232,400 tonnes per day[16]. - Upgrades and expansions were awarded to 10 existing wastewater treatment projects, increasing their total designed capacity by 425,000 tonnes per day[16]. - The Shanghai Baoshan Renewable Energy Utilization Center, set to commence operation in 2022, will have a processing capacity of 3,800 tonnes per day and is expected to generate 800 million kWh of electricity annually[16]. - The company operates approximately 250 wastewater treatment and water supply projects, 8 solid waste incineration projects, and 13 sludge treatment projects across 19 provinces and municipalities in China[7][9]. - The company operates multiple wastewater treatment projects across various provinces, with a total daily capacity of 1,000,000 tonnes[102]. - The total project capacity for wastewater treatment and water supply projects is 10,681,650 tonnes per day[106]. - The company is currently constructing the Shuangyashan City Anbang River Basin Municipal WWT and RWT Project, which will have a capacity of 40,000 tonnes and is expected to meet reclaimed water quality standards[105]. Strategic Focus and Market Position - The Group's strategic focus includes expanding its market share in water and solid waste treatment, as well as exploring opportunities in industrial wastewater treatment and seawater desalination[8][9]. - SIIC Environment aims to consolidate its leading position in China's water and environmental protection industry through increased scale and efficiency[8][9]. - The Group plans to increase investment in research and development to venture into other environmental protection areas such as equipment manufacturing and ecological remediation[21]. - The Group is focused on expanding its market presence and enhancing operational efficiency through strategic management[123]. - The Group's strategic initiatives include exploring new technologies and potential acquisitions to strengthen its market position[125]. Governance and Management - The board consists of nine members, overseeing key operational initiatives and major funding proposals[111]. - The board must approve significant matters such as corporate restructuring, mergers and acquisitions, and major investments[113]. - The Group's CEO, Mr. Yang Jianwei, has over 20 years of professional experience in financial investment and corporate management[123]. - The Group has a strong management team with diverse backgrounds in finance, environmental management, and regulatory affairs[135]. - The Company emphasizes board diversity in gender, age, cultural background, industry experience, skills, and knowledge to support strategic objectives[186]. - The Company has established a framework for effective controls to assess and manage risks, safeguarding shareholders' interests[176]. Environmental Commitment and Sustainability - The Group's commitment to environmental sustainability includes integrating industry and finance to promote ecological civilization[5][6]. - Supportive government policies under China's 14th Five-Year Plan are expected to enhance growth opportunities in the environmental protection industry[15]. - The company is committed to social responsibility, having received multiple awards for energy-saving and emission reduction efforts[147]. - The Group's focus on solid waste management and technology development aligns with current environmental sustainability trends[135]. Financial Management and Risk - Finance expenses decreased from RMB 698.8 million in FY2020 to RMB 679.3 million in FY2021 due to loan restructuring[35]. - The Group's basic earnings per share rose to 27.35 RMB cents in FY2021, a 12.0% increase from 24.41 RMB cents in FY2020[33]. - The Group's management confirmed no events or conditions that would materially impact the Company's ability to operate as a going concern during FY2021[178]. - The Company has adopted internal guidelines for financial authorization and approval limits for investments, acquisitions, and disposals[183]. Operational Efficiency and Cost Management - The company has implemented cost-cutting measures, resulting in a reduction of operational expenses by I%[170]. - The Group's leadership includes professionals with advanced degrees in finance and economics, enhancing its strategic decision-making capabilities[129]. - The Company emphasizes internal control and auditing to ensure effective risk management and operational efficiency[144].

Company Operations - SIIC Environment Holdings Ltd. operates over 200 water treatment and supply projects, 8 waste incineration projects, and 11 sludge treatment projects across 19 municipalities and provinces in China[10]. - The company aims to expand its market share and consolidate its leading position in China's water and environmental protection industry[11]. - SIIC Environment is committed to exploring opportunities in industrial wastewater treatment, seawater desalination, and renewable energy[11]. - The company has shown tremendous growth and continues to increase its market share in China's environmental sector[9]. - The company is actively involved in the construction and operation of wastewater treatment facilities, contributing to environmental sustainability efforts in the regions it serves[21][22]. - The company is focused on upgrading water quality standards, with several projects meeting Class I and Superior Class I standards[21][22]. - The company is expanding its market presence with multiple wastewater treatment projects across Guangdong province, including the Pinghu WWTP Project with a daily capacity of 25,000 tonnes[22]. - The company is leveraging government partnerships for project upgrades and expansions, enhancing its operational capabilities[21][22]. Financial Performance - The Group's revenue increased from RMB2,639.6 million in 1HFY2020 to RMB3,300.0 million in 1HFY2021, representing a growth of 25.0%[52]. - Gross profit rose from RMB915.8 million in 1HFY2020 to RMB1,157.8 million in 1HFY2021[52]. - Profit for the period amounted to RMB529.0 million, up 35.2% compared to 1HFY2020[52]. - Profit after tax attributable to owners increased from RMB281.2 million in 1HFY2020 to RMB332.7 million in 1HFY2021, an increase of 18.3%[52]. - The total comprehensive income for the period was RMB 567,974,000, compared to RMB 354,700,000 in 2020, indicating an increase of approximately 60%[168]. - Basic earnings per share for the period was 12.86 RMB cents, up from 10.81 RMB cents in the same period last year, representing a growth of approximately 19%[166]. Assets and Liabilities - Current assets as of June 30, 2021, amounted to RMB7.11 billion, up from RMB6.73 billion at the end of 2020, primarily due to higher trade receivables[75]. - Non-current assets reached RMB 28.9 billion as of June 30, 2021, up from RMB 28.02 billion as of December 31, 2020, mainly due to the construction of several wastewater treatment and solid waste power generation projects[79]. - Current liabilities decreased to RMB 8.07 billion as of June 30, 2021, from RMB 8.89 billion as of December 31, 2020, due to loan restructuring efforts[80]. - Non-current liabilities increased to RMB 14.48 billion as of June 30, 2021, from RMB 12.84 billion as of December 31, 2020, primarily due to the issuance of Panda Bonds[80]. - Total equity attributable to owners of the Company was RMB 9,147,358 as of June 30, 2021, an increase from RMB 8,927,774 as of December 31, 2020[95]. Capital Management - The Group's capital management aims to maintain a robust capital ratio relevant to its industry to support business operations and maximize shareholder value[94]. - The Group is monitoring market conditions and funding requirements regularly to optimize its capital structure as needed[89]. - The gearing ratio as of June 30, 2021, was approximately 1.46, compared to 1.41 as of December 31, 2020, indicating a slight increase in leverage[129][130]. Governance and Compliance - The Group has complied with the Singapore Code of Corporate Governance 2018 and the HK CG Code throughout the six months ended June 30, 2021, with exceptions disclosed in the Annual Report FY2020[141]. - The Company has adopted a Code of Best Practices for directors' securities transactions, ensuring compliance with the SGX-ST Listing Manual and Model Code[142]. - The Audit Committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2021[143]. Employee Information - Total employee benefits expenses for the six months ended June 30, 2021, were approximately RMB322.9 million, an increase from RMB296.7 million for the same period in 2020[121]. - As of June 30, 2021, the company had a total of 6,283 employees, an increase from 6,024 employees as of June 30, 2020[123]. Strategic Initiatives - The Group is closely monitoring opportunities from the national carbon emissions trading market and wastewater treatment policies during the "14th Five-Year Plan" to enhance its business in environmental protection technology[162]. - The Group aims to accelerate its deployment in the environmental protection technology sector to promote sustainable development and integration of industry and finance[162]. - The National Development and Reform Commission plans to add 20 million cubic meters of wastewater treatment capacity per day during the 14th Five-Year Plan[157].

Financial Performance - Profit attributable to owners increased by 5.8% to RMB 635 million for FY2020[14] - Revenue for FY2020 was RMB 6.252 billion, representing a 4.9% year-over-year growth[16] - Operating and maintenance income grew by 12.7% to RMB 3.77 billion[16] - The Group achieved a revenue of RMB 6.3 billion for FY2020, reflecting a CAGR of 24.0% since FY2016[27] - Profit attributable to owners of the Company for FY2020 was RMB 635.3 million, with a CAGR of 8.7% since FY2016[28] - EBITDA for FY2020 reached RMB 2.2 billion, showing a CAGR of 20.5% since FY2016[28] - Gross profit for FY2020 was RMB 2.2 billion, up 13.0% from RMB 1.9 billion in FY2019[36] - The Group's profit for the year increased by 21.7% to RMB 917.8 million in FY2020 compared to RMB 754.4 million in FY2019[36] - Earnings per share for FY2020 were RMB 24.41, reflecting a 5.9% increase from RMB 23.04 in FY2019[36] Revenue Sources - Revenue from service concession arrangements, including operation and maintenance income, increased by 12.7% to RMB 3.77 billion[19] - Revenue from the wastewater treatment business line increased due to higher treatment and sales volume, as well as increased average treatment prices[39] - Revenue from the waste incineration business line surged from RMB153.8 million in 2019 to RMB838.5 million in 2020, driven by the commencement of the Baoshan project[39] - Revenue from the water supply business line slightly increased from RMB886.3 million in 2019 to RMB903.8 million in 2020, indicating stability in this segment[39] - Revenue from the water and sludge treatment business line decreased from RMB4,645.3 million in 2019 to RMB4,295.0 million in 2020, impacted by COVID-19 related construction delays[39] Project Development - The Group added 16 new wastewater treatment projects with a total design capacity of 401,300 tonnes per day[17] - Total design capacity of wastewater treatment projects exceeded 12.89 million tonnes per day as of FY2020[17] - The Shanghai Baoshan Renewable Energy Utilization Center Project is expected to commence operations in 2022, with a design capacity of 3,800 tons per day[22] - The Group will focus on expanding its wastewater and waste incineration business in the Yangtze River Economic Belt, aligning with national development strategies[21] - The company operates multiple wastewater treatment projects with a total daily capacity of 1,000,000 tonnes across various phases and locations[52] Financial Stability - Gearing ratio improved to 62.5%, the lowest in recent years[18] - Cash and cash equivalents rose to RMB 2.67 billion as of December 31, 2020[18] - The asset-liability ratio decreased to 62.5%, the lowest in recent years, indicating improved financial stability[19] - Total assets increased to RMB 34.8 billion in FY2020, representing a growth of 7.4% from RMB 32.4 billion in FY2019[37] - Net assets rose to RMB 13.0 billion in FY2020, marking a 9.8% increase from RMB 11.9 billion in FY2019[37] Corporate Governance - The board consists of nine members, overseeing key operational initiatives and financial performance reviews[71] - The company is focused on corporate governance practices, requiring board approval for major investments and restructuring[71] - The Group's management team includes several executive directors responsible for risk management, project operations, and government relations[75] - The Group has a strong leadership structure with directors holding various positions in other listed companies, enhancing its corporate governance[78] - The Group's strategic planning and development are primarily managed by Mr. Zhou Jun, ensuring alignment with corporate goals[77] Risk Management - The company has established a Risk and Investment Management Committee (RIMC) to oversee the overall risk management framework[158] - The RIMC is responsible for designing, implementing, and monitoring risk management and internal control systems on an ongoing basis[158] - The effectiveness of the Group's risk management and internal control systems is reviewed at least annually[158] - The Group's internal controls and risk management systems are deemed adequate and effective as of December 31, 2020, addressing financial, operational, compliance, and information technology control risks[160] Shareholder Engagement - Shareholders are encouraged to attend general meetings, with notices dispatched at least 20 clear business days prior to any AGM[171] - The Company emphasizes high standards of transparent corporate disclosure, ensuring timely and fair information dissemination to shareholders via SGXNet and HKEXnews[179] - The Company has a dedicated investor relations team that facilitates regular communication with shareholders, analysts, and media[180] - The Company engages with analysts and investors to gather feedback and insights on its business operations[180] - The Company encourages shareholders to consider their personal circumstances regarding attendance at the AGM, emphasizing proxy voting options[179] Environmental Commitment - The Group aims to explore new business models to contribute to environmental protection and provide sustainable returns to shareholders[26] - The Group's focus on environmental protection is reflected in its leadership roles within relevant associations[79] - The company is committed to social responsibility, having received multiple awards for energy-saving and emission reduction efforts[102] - The Company has initiated the process of setting targets related to its material environmental, social, and governance (ESG) issues[181] Management Team - Mr. Zhou Jun has been the chairman of the Group since May 2012 and was re-designated as a non-executive Director on 12 March 2018[77] - Mr. Yang Jianwei was appointed as the Chief Executive Officer on 15 January 2021, overseeing the Group's strategy, business, operation, administration, and financial matters[80] - The management team includes professionals with extensive experience in finance, engineering, and environmental management, enhancing the company's operational capabilities[98][99][100] - The leadership structure includes experienced individuals in both operational and financial management roles, contributing to strategic decision-making[104][105]

Company Overview - SIIC Environment Holdings Ltd. operates over 200 water treatment and supply projects, 8 waste incineration projects, and 10 sludge treatment projects across 19 municipalities and provinces in China[6]. - The company aims to expand its market share in water and solid waste treatment, and explore opportunities in industrial wastewater treatment, seawater desalination, and soil remediation[6]. - SIIC Environment is backed by strong mergers and acquisitions capabilities, positioning itself as a leading investor and operator in the environmental industry in China[5]. - The company has shown tremendous growth and continues to increase its market share in China's environmental sector[6]. - SIIC Environment's strategic investor, China Energy Conservation and Environmental Protection Group, is a state-owned enterprise focused on energy conservation and environmental protection[6]. - The company is committed to protecting the planet and conserving natural resources while pursuing growth[5]. - SIIC Environment was successfully listed on the Mainboard of SEHK in 2018, enhancing its visibility and market presence[6]. - The company has a strong operational history of over 15 years in the environmental protection industry in China[6]. - SIIC Environment's headquarters is located in Singapore, with significant operations in Hong Kong[7]. Project Operations - The company reported a daily capacity of 12,500 tonnes for the Anxi County Longmen Town WWTP BOT Project, which is currently in operation[26]. - The Dongguan City Dalang Songshanhu Southern WWTP Project has a daily capacity of 100,000 tonnes and is currently operational, with upgrades under construction by the government[26]. - The company holds a 75.5% effective interest in the Dongguan City Shijie Shayao WINTP Project 1st Phase, which is also in operation[26]. - The Anxi County Longmen Town WWTP BOT Project 2nd Phase, with a capacity of 12,500 tonnes, is planned for construction[26]. - The company is expanding its wastewater treatment projects in Guangdong Province, with multiple projects under various stages of construction and operation[26]. - The company aims to meet Class I water quality standards across its wastewater treatment projects[26]. - The Dongguan City Fenggang Yantian WWNP Project 2nd Phase has a capacity of 50,000 tonnes and is under construction by the government[26]. - The company is focused on enhancing its market presence through the development of new wastewater treatment facilities[26]. - The company is committed to sustainable practices in its wastewater treatment operations, aligning with environmental standards[26]. - The company is actively pursuing opportunities for expansion in the wastewater treatment sector across various provinces in China[26]. Financial Performance - The Group's revenue decreased from approximately RMB2,921.8 million in 1HFY2019 to RMB2,639.6 million in 1HFY2020, representing a decrease of 9.7%[64]. - Gross profit remained stable at RMB915.8 million in 1HFY2020 compared to RMB927.4 million in 1HFY2019[64]. - Profit for the period amounted to RMB391.3 million, up 4.8% compared to 1HFY2019[64]. - Profit after tax attributable to owners decreased from RMB300.2 million in 1HFY2019 to RMB281.2 million in 1HFY2020, a decrease of 6.3%[64]. - Operating and maintenance income and financial income from service concession arrangements surged by 9.0% in 1HFY2020 due to increased wastewater treatment volume and average treatment tariff[64]. - Construction revenue decreased by 30.6% in 1HFY2020 compared to 1HFY2019, primarily due to restrictions on projects during the Covid-19 outbreak[64]. - Total operating and maintenance income and financial income from service concession arrangements amounted to RMB1,692.4 million in 1HFY2020[68]. - Service income from non-service concession arrangements was RMB66.3 million in 1HFY2020, down from RMB90.2 million in 1HFY2019[69]. - Other revenue amounted to RMB66.1 million in 1HFY2020, a decrease from RMB105.4 million in 1HFY2019[70]. Assets and Liabilities - As of June 30, 2020, current assets amounted to RMB5.51 billion, a decrease from RMB5.94 billion as of December 31, 2019, primarily due to net cash outflows during 2QFY2020 and 1HFY2020[87]. - Non-current assets increased to RMB27.05 billion as of June 30, 2020, up from RMB26.43 billion as of December 31, 2019, mainly due to investments in wastewater treatment projects[87]. - Current liabilities rose to RMB9.30 billion as of June 30, 2020, compared to RMB9.25 billion as of December 31, 2019, due to new borrowings due within one year[87]. - Total borrowings increased to approximately RMB14.47 billion as of June 30, 2020, from RMB14.35 billion as of December 31, 2019, with 27.9% being unsecured credit facilities[90]. - The Group's cash and cash equivalents stood at RMB1.80 billion as of June 30, 2020, down from RMB2.37 billion as of December 31, 2019, with net cash used in operating activities amounting to RMB370.8 million in 1HFY2020[88]. - Equity attributable to owners of the Company reached RMB8.46 billion as of June 30, 2020, primarily due to net profit for the first half of the year, partially offset by dividends declared[89]. Risk Management - The Group is exposed to financial risks including foreign currency risk, interest rate risk, liquidity risk, and credit risk, with policies reviewed by the Board of Directors[191]. - There have been no changes in the risk management policies since the year-end, indicating stability in the Group's approach to financial risk management[195]. - Credit risk is minimized by dealing exclusively with high credit rating counterparties, aiming for continual revenue growth while reducing potential losses[99]. - The maximum exposure to credit risk is represented by the carrying amount of recognized financial assets, which includes trade receivables and cash equivalents[102]. Corporate Governance - The Company has confirmed compliance with the Singapore Code of Corporate Governance and the HK Corporate Governance Code throughout the reporting period[145][148]. - The Group has not entered into any hedging due to limited transactional foreign currency exposure, with all sales and costs primarily denominated in RMB[131][135]. - The Group's financial results for the six months ended 30 June 2020 have not been found to be false or misleading in any material aspect[163]. Employee and Director Information - The total employee benefits expenses for the six months ended June 30, 2020, were approximately RMB296.7 million, compared to RMB287.4 million for the same period in 2019[124]. - The Group employed 6,024 individuals as of June 30, 2020, a slight decrease from 6,038 employees in the previous year[124]. - Mr. Yang Jianwei was appointed as an Executive Director on May 13, 2020, responsible for overseeing financial matters and capital market affairs[103]. - Mr. Yang will receive an annual salary of SGD 50,000, determined based on his duties, responsibilities, qualifications, experience, and prevailing market conditions[107].