Financial Performance - For the nine months ended September 30, 2023, the group reported a net profit attributable to shareholders of RMB 583.4 million, an increase of 2.2% compared to the same period last year[6]. - Total revenue for the nine months increased by 9.7% to RMB 6.349 billion, driven by higher service concession operation maintenance income and construction revenue from ongoing projects[6]. - Gross profit rose by 14.6% to RMB 2.214 billion, primarily due to new service concession arrangements[6]. - The group experienced a 12.6% increase in profit before tax, reaching RMB 443.5 million for the nine months[9]. - The basic earnings per share for the period was RMB 8.00, reflecting a 0.5% increase compared to RMB 7.96 in the previous year[9]. - Other income surged by 80.5% to RMB 32.98 million, contributing positively to overall financial performance[9]. - The group’s total comprehensive income for the period amounted to RMB 304.8 million, a significant increase of 247.9% compared to the previous year[9]. - The net profit after tax for the nine months ended September 30, 2023, was RMB 924,519 thousand, up from RMB 843,774 thousand for the same period in 2022, which is an increase of approximately 9.6%[35]. Financial Position - As of September 30, 2023, the group's cash and cash equivalents stood at RMB 2.5 billion, indicating a healthy financial position[6]. - As of September 30, 2023, total assets amounted to RMB 42,906,024 thousand, an increase from RMB 40,545,215 thousand as of December 31, 2022, representing a growth of approximately 5.3%[10]. - Current assets reached RMB 9,093,538 thousand, up from RMB 8,325,150 thousand, indicating a year-over-year increase of about 9.2%[10]. - Total liabilities stood at RMB 27,560,656 thousand, compared to RMB 25,730,643 thousand, reflecting an increase of approximately 7.1%[11]. - Total equity rose to RMB 15,345,368 thousand from RMB 14,814,572 thousand, representing an increase of about 3.6%[11]. - Current liabilities totaled RMB 10,574,420 thousand, up from RMB 7,887,162 thousand, indicating a significant increase of approximately 34%[11]. - Non-current liabilities decreased slightly to RMB 16,986,236 thousand from RMB 17,843,481 thousand, a reduction of about 4.8%[11]. Cash Flow and Investments - The net cash generated from operating activities for the nine months ended September 30, 2023, was RMB 1,647,824 thousand, an increase from RMB 1,127,693 thousand in the same period of 2022, reflecting a growth of approximately 46.1%[12]. - The group incurred a net cash outflow from investing activities of RMB 1,695,441 thousand for the nine months ended September 30, 2023, compared to RMB 269,384 thousand for the same period in 2022, representing a significant increase in investment expenditures[13]. - The financing activities resulted in a net cash outflow of RMB 2,770,461 thousand for the nine months ended September 30, 2023, compared to RMB 1,760,406 thousand in the same period of 2022, indicating increased borrowing and repayment activities[13]. Segment Performance - The company operates in three main segments: Water and Sludge Treatment, Water Supply, and Solid Waste Power Generation, with significant contributions to overall revenue from these segments[34]. - Construction revenue for Q3 2023 was RMB 861.9 million, and RMB 2.1489 billion for the first nine months, compared to RMB 772.6 million and RMB 2.0396 billion in the same periods of 2022[67]. - Revenue from service concession arrangements for Q3 2023 was RMB 1.3207 billion, and RMB 3.822 billion for the first nine months, up from RMB 1.1861 billion and RMB 3.4175 billion in 2022[68]. Administrative and Financial Management - Administrative expenses decreased by 4.9% to RMB 133.2 million, indicating improved cost management[9]. - The company faced various financial risks, including foreign currency risk, interest rate risk, liquidity risk, and credit risk, which are managed by the board and executed by the CFO and management[32]. - The company reported a total depreciation and amortization expense of RMB 314,115 thousand for the nine months ended September 30, 2023, compared to RMB 275,030 thousand for the same period in 2022, showing an increase in depreciation costs[35]. Dividends and Shareholder Returns - The company declared dividends of RMB 132,902 thousand to equity shareholders during the period[17]. - The company declared an interim dividend of SGD 0.005 per share, which was fully paid on September 28, 2023[51]. - The company did not declare any dividends for the current financial year, indicating a focus on capital expenditures and investment projects[86].

Company Overview - SIIC Environment Holdings Ltd. operates approximately 250 wastewater treatment and water supply projects, 5 solid waste incineration projects, and 13 sludge treatment projects across 20 municipalities and provinces in China[5]. - The company is headquartered in Singapore and listed on both the SGX-ST and SEHK, indicating a strong international presence[4]. - The company has a strong operational history of over 15 years in the environmental protection industry in China[5]. - SIIC Environment is backed by strong mergers and acquisitions capabilities, positioning itself as a leading operator and investor in the environmental industry in China[3]. Market Expansion and Strategy - The company aims to expand its market share and efficiency in the water and environmental protection industry, focusing on industrial wastewater treatment, seawater desalination, and soil remediation[6]. - The company is actively exploring opportunities in renewable energy and pollution prevention as part of its future expansion plans[6]. - The company is actively pursuing strategic partnerships and expansions to bolster its service offerings in the environmental sector[22]. - The company is focusing on expanding its wastewater treatment capabilities in Henan province, with several projects in various phases of completion[24][25]. Project Capacities and Operations - The company reported a daily capacity of 150,000 tonnes for the Dongguan Sanzhou WINTP Project, with a 35.5% interest currently in operation[22]. - The wastewater treatment capacity for the Huizhou City Meihu Water Purification Center Project is 200,000 tonnes, with 100% operational status and an upgrade to Superior Class II Standard A planned[22]. - The company has multiple wastewater treatment projects across various provinces, with daily capacities ranging from 20,000 to 340,000 tonnes[23][24][25]. - The Beihai Economic Development Zone WWTP O&M Project has a daily capacity of 45,000 tonnes and is currently 55% in operation[23]. Financial Performance - The Group's revenue increased from RMB3,686.9 million in 1HFY2022 to RMB4,018.8 million in 1HFY2023, representing a growth of 9.0%[52]. - Gross profit rose from RMB1,244.6 million in 1HFY2022 to RMB1,437.7 million in 1HFY2023, an increase of 15.5%[63]. - Profit for the period amounted to RMB593.6 million in 1HFY2023, up 8.4% compared to 1HFY2022[52]. - The company reported a net cash used in investing activities of RMB 966,674 for the six months ended June 30, 2023, compared to RMB 255,015 in the same period of 2022, indicating a substantial increase in investment outflows[155]. Environmental Commitment - SIIC Environment is committed to protecting the planet and conserving natural resources while pursuing company growth[3]. - The company aims to meet local discharge limits with its projects, adhering to Class I and Class II water quality standards[22]. - The Group is committed to integrating ESG principles into its development plans and optimizing ESG performance through technology iterations[130]. Governance and Compliance - The Group complied with the Singapore Code of Corporate Governance 2018 and the HK Corporate Governance Code during the six months ended 30 June 2023, with some exceptions noted[122]. - The Board currently consists of one Non-Executive Director, five Executive Directors, and three Independent Non-Executive Directors, with the Non-Executive Chairman not considered independent[123]. - The Group's directors confirmed compliance with relevant securities transaction regulations throughout the six months ended June 30, 2023[125]. Future Outlook - The Chinese economy showed resilience in the first half of 2023, with the central government advancing "carbon peak" and "carbon neutrality" goals[127]. - The introduction of national water policies is expected to enhance the quality of the water environment in the Yangtze River Basin, creating opportunities for the Group's sewage treatment business[128]. - The Group plans to explore new high-quality projects and M&A opportunities, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Economic Belt, to increase market share[132].

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].

Financial Performance - For the first quarter ended March 31, 2023, the group reported a net profit attributable to shareholders of RMB 150.0 million, a decrease of 14.7% compared to the same period last year[8]. - Total revenue for the first quarter increased by 7.5% year-on-year to RMB 1.919 billion, primarily driven by increased service concession operation and maintenance income[8]. - Gross profit rose by 16.9% year-on-year to RMB 676.0 million[8]. - The earnings per share based on profit attributable to shareholders was RMB 5.82, down 14.8% from RMB 6.83 in the previous year[11]. - The group’s pre-tax profit for the three months ended March 31, 2023, was RMB 336,025 thousand, slightly down from RMB 338,449 thousand in the same period of 2022, indicating a decrease of about 0.71%[14]. - The company reported a net profit after tax of RMB 241,999 thousand for the three months ended March 31, 2023, compared to RMB 255,843 thousand for the same period in 2022, showing a decrease of about 5.4%[30]. - The group’s total comprehensive income for the three months ended March 31, 2023, was RMB 172,506 thousand, compared to RMB 264,474 thousand for the same period in 2022, representing a decline of approximately 34.69%[17]. Expenses and Costs - Administrative expenses increased by 38.2% to RMB 134.8 million compared to the previous year[11]. - Financial expenses rose by 37.2% to RMB 227.0 million year-on-year[11]. - The tax expense for the three months ended March 31, 2023, was RMB 94,026 thousand, compared to RMB 82,606 thousand for the same period in 2022, representing an increase of approximately 13.5%[34]. - The company’s financial expenses for the three months ended March 31, 2023, were RMB 227,039 thousand, compared to RMB 165,456 thousand for the same period in 2022, reflecting an increase of about 37.2%[29]. Assets and Liabilities - As of March 31, 2023, total current assets amounted to RMB 8,636,056 thousand, an increase from RMB 8,325,150 thousand as of December 31, 2022, representing a growth of approximately 3.7%[12]. - The total non-current assets reached RMB 32,490,396 thousand as of March 31, 2023, compared to RMB 32,220,065 thousand at the end of 2022, indicating an increase of about 0.8%[12]. - Total liabilities as of March 31, 2023, were RMB 26,051,406 thousand, up from RMB 25,657,696 thousand at the end of 2022, reflecting a rise of approximately 1.5%[13]. - The company's equity totalled RMB 15,075,046 thousand as of March 31, 2023, compared to RMB 14,814,572 thousand at the end of 2022, marking an increase of around 1.8%[13]. - Current liabilities totaled RMB 8,118,244 thousand as of March 31, 2023, compared to RMB 7,887,162 thousand at the end of 2022, indicating an increase of approximately 2.9%[13]. - The company's total assets reached RMB 41,126,452 thousand as of March 31, 2023, up from RMB 40,545,215 thousand at the end of 2022, representing a growth of about 1.4%[13]. Cash Flow - The group's operating cash flow before changes in working capital increased to RMB 656,450 thousand for the three months ended March 31, 2023, compared to RMB 572,123 thousand for the same period in 2022, representing a growth of approximately 14.74%[14]. - Net cash used in investing activities was RMB 124,765 thousand for the three months ended March 31, 2023, a decrease from RMB 194,118 thousand in the same period of 2022, indicating a reduction of about 35.69%[15]. - The group reported a net cash inflow from financing activities of RMB 142,108 thousand for the three months ended March 31, 2022, compared to a net outflow of RMB 231,003 thousand in the same period of 2023, reflecting a significant change in financing strategy[15]. - Cash and cash equivalents stood at RMB 2,577,555 thousand as of March 31, 2023, compared to RMB 2,512,625 thousand at the end of 2022, showing a growth of approximately 2.6%[12]. - Cash and cash equivalents at the end of the period were RMB 2,577,555 thousand as of March 31, 2023, compared to RMB 2,684,293 thousand at the end of March 31, 2022, reflecting a decrease of approximately 3.97%[16]. Operational Highlights - The group continues to operate primarily in China, with no changes to its main business activities[22]. - The company is focusing on opportunities in key regions such as the Yangtze River Economic Belt and the Guangdong-Hong Kong-Macao Greater Bay Area, driven by national policies supporting environmental governance and wastewater treatment[75]. - The company is committed to digital transformation in water services, enhancing operational efficiency through innovative technologies and digital platforms[76]. Governance and Compliance - The group maintained compliance with all provisions of the Corporate Governance Code as per the Hong Kong Stock Exchange during the reporting period[9]. - The company has obtained confirmation statements from all directors and executives as required by the listing rules[80]. - The confirmation was obtained in accordance with the format specified in Appendix 7.7 of the listing rules[80]. - The announcement was made by the executive director, Mr. Yang Jianwei, on April 28, 2023[80]. Other Information - The financial statements are prepared in accordance with Singapore Financial Reporting Standards, with no changes in accounting policies from the previous year[23]. - The company has not faced significant seasonal or cyclical impacts on its business during the reporting period[27]. - The management assessed goodwill for impairment and determined that no impairment provision was necessary[25]. - The financial risks faced by the group include foreign currency risk, interest rate risk, liquidity risk, and credit risk, with policies in place to manage these risks[26].

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 - The group reported a net profit attributable to shareholders of RMB 175.8 million for Q1 2022, an increase of 9.8% compared to the same period last year[7]. - Total revenue for Q1 2022 reached RMB 1.784 billion, reflecting a growth of 10.1% year-on-year, driven by increased service concession operation maintenance income and accelerated construction project progress[7]. - Gross profit rose by 4.5% to RMB 578.2 million, primarily due to higher financial income related to service concessions and faster project completion[7]. - The pre-tax profit for the quarter was RMB 338.4 million, up 6.6% from RMB 317.6 million in the same quarter last year[10]. - Basic and diluted earnings per share for the period were both RMB 6.83, representing a 10.8% increase from RMB 6.16[10]. - The total comprehensive income for the period amounted to RMB 278.4 million, a 19.5% increase compared to RMB 232.9 million in the previous year[10]. - The group's profit for the period was RMB 175,821 thousand for the three months ended March 31, 2022, compared to RMB 80,022 thousand for the same period in 2021, indicating a substantial increase of 119.9%[16]. - The income tax expense for the three months ended March 31, 2022, was RMB 82,606,000, compared to RMB 77,052,000 for the same period in 2021, representing an increase of approximately 6.5%[32]. Assets and Liabilities - As of March 31, 2022, total current assets amounted to RMB 8,504,773 thousand, an increase of 13.5% from RMB 7,491,647 thousand as of December 31, 2021[11]. - Total non-current assets decreased to RMB 29,691,763 thousand from RMB 30,022,318 thousand, reflecting a decline of 1.1%[12]. - Total assets reached RMB 38,196,536 thousand, up from RMB 37,513,965 thousand, indicating a growth of 1.8%[12]. - Total current liabilities were RMB 9,288,486 thousand, a slight decrease from RMB 9,434,216 thousand, down by 1.5%[12]. - Total non-current liabilities increased to RMB 14,509,414 thousand from RMB 14,043,548 thousand, representing an increase of 3.3%[12]. - Total equity rose to RMB 14,398,636 thousand from RMB 14,036,201 thousand, marking an increase of 2.6%[12]. - Trade and other receivables increased to RMB 3,589,514 thousand from RMB 3,403,809 thousand, reflecting a growth of 5.5%[11]. - The total trade payables as of March 31, 2022, were RMB 2,130,118,000, down from RMB 2,639,871,000 at the end of 2021, reflecting a decrease of about 19.3%[39]. Cash Flow - The net cash used in operating activities for the three months ended March 31, 2022, was RMB (478,039) thousand, a significant increase from RMB (324,576) thousand in the same period of 2021, indicating a decline in cash flow[14]. - The net cash used in investing activities for the three months ended March 31, 2022, was RMB (194,118) thousand, compared to RMB (123,939) thousand in the same period of 2021, indicating increased investment outflows[14]. - The net cash generated from financing activities for the three months ended March 31, 2022, was RMB 561,908 thousand, a decrease from RMB 1,491,493 thousand in the same period of 2021, showing reduced financing inflows[14]. - The group reported a net cash outflow of RMB 478 million from operating activities in Q1 2022, mainly used for service concession projects[75]. - Financing activities generated a net cash inflow of RMB 561.9 million in Q1 2022, primarily from bank and other borrowings[75]. Operational Highlights - The revenue from water and sludge treatment was RMB 961,706 thousand, while the revenue from water supply was RMB 219,187 thousand, and solid waste power generation was RMB 544,051 thousand for the three months ended March 31, 2022[27]. - The construction revenue for the three months ended March 31, 2022, was RMB 611,229 thousand, compared to RMB 570,905 thousand for the same period in 2021, indicating an increase of approximately 7.5%[31]. - Service concession operation and maintenance revenue for Q1 2022 totaled RMB 1.0744 billion, up from RMB 981.5 million in Q1 2021, driven by increased sewage treatment volume and higher average service prices[61]. - The financial income from service concession arrangements was RMB 307,202 thousand for the three months ended March 31, 2022, up from RMB 270,391 thousand in the same period of 2021[31]. - The company is actively managing the construction of the Baoshan project, with overall progress under control despite potential delays due to material shortages[76]. Governance and Compliance - The group has complied with all provisions of the Corporate Governance Code as set out in the Hong Kong Stock Exchange Listing Rules during the reporting period[8]. - The board confirms no significant fraudulent or misleading matters affecting the financial statements as of March 31, 2022[81]. - The company has obtained confirmations from all directors and executives regarding compliance with listing rules[82]. Future Outlook and Strategy - The company is exploring investment opportunities in the waste-to-energy sector, aligning with national green development trends[77]. - The company has not disclosed any forecasts or outlook statements to shareholders[76]. - The company plans to sell its subsidiaries, Xinxian and Dazhou, with expected proceeds exceeding the net book value of the related assets and liabilities[45].

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].