Group 1 - The company held its sixth meeting of the eighth supervisory board on May 23, 2025, in Shenzhen, Guangdong Province, with all three supervisors present [1][2] - The supervisory board unanimously approved the proposal to reappoint Da Xin Accounting Firm as the financial and internal control auditing institution for the year 2025, with a term lasting until the conclusion of the 2025 annual general meeting [1][2] - The supervisory board confirmed that Da Xin Accounting Firm possesses the necessary qualifications and experience to provide auditing services for listed companies, ensuring independence and professional competence [1]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year, representing a 15% year-over-year growth[7]. - Total revenue for 2024 was RMB 3,486.66 million, a decrease from RMB 4,022.47 million in 2023, representing a decline of approximately 13.3%[17]. - Net loss attributable to the parent company for 2024 was RMB 804.19 million, compared to a loss of RMB 750.47 million in 2023, indicating a worsening financial performance[17]. - The company reported a net profit margin of 12%, reflecting improved operational efficiency[7]. - The net profit attributable to shareholders was approximately RMB -804 million, a decline of 7.16% from RMB -750 million in 2023[42]. - Operating profit loss was RMB 841 million, a year-on-year reduction in loss of approximately RMB 46.27 million[33]. - The company achieved a significant increase in operating cash flow, reaching approximately RMB 125 million, a 120-fold increase year-on-year[25]. - The comprehensive gross profit margin improved to 5.59%, an increase of 1.26 percentage points from 4.33% in 2023[42]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[7]. - New product launches included an innovative waste management solution, expected to contribute an additional 200 million RMB in revenue[7]. - The company plans to focus on cost reduction and efficiency improvement, implementing 23 projects that exceeded the cost reduction target by 123%[26]. - In 2025, the company aims to enhance its product offerings by extending into high-value-added products such as copper salts and tin salts, while promoting resource recycling[29]. - The company plans to focus on upgrading its industrial chain and expanding into high-quality development areas, including resource recycling and environmental services[60]. Governance and Management Changes - The board of directors underwent significant changes, with three new appointments aimed at strengthening governance[6]. - The management team has undergone recent changes, with new appointments aimed at strengthening leadership and operational capabilities[70][71][73][74]. - The company is focused on strengthening its governance structure through the appointment of experienced professionals in various fields[76][79][80]. - The recent appointments reflect the company's commitment to enhancing its operational efficiency and risk management capabilities[76][81]. Research and Development - Research and development expenses increased by 30%, totaling 150 million RMB, to support new technology initiatives[7]. - The company has accumulated 632 patents, including one authorized in the United States, and has established two provincial-level R&D platforms[26]. - The company established 21 research and development platforms and deepened cooperation with renowned universities to support technological innovation[37]. Environmental and Social Responsibility - The company emphasized its commitment to ESG practices, with a goal to reduce carbon emissions by 40% by 2030[7]. - The company has issued a separate environmental, social, and governance report on the same day as the annual report[182]. - The company has committed RMB 355,000 to support poverty alleviation initiatives, contributing to the "High-Quality Development Project" in various regions[187]. Legal and Compliance Issues - The company is involved in a lawsuit where part of the funds from a fundraising account, amounting to RMB 96,317,554.88, has been frozen due to a contract dispute[100]. - The lawsuit includes a claim for RMB 88,750,905.60 for various environmental pollution-related expenses, plus interest at an annual rate of 4.35%[104]. - The company has maintained compliance with relevant laws and regulations, ensuring no significant impact on its operations[184]. Financial Management and Shareholder Relations - The company will not propose any final dividend for the year ending December 31, 2024, due to recorded losses and significant funding needs for ongoing operations and business expansion[28]. - The company’s profit distribution policy states that cash dividends should not be less than 20% of the distributable profits for the year, and cumulative distributions over three years should not be less than 30% of the average distributable profits[94]. - The company has calculated distributable reserves for dividends at approximately RMB 240,659,288 during the reporting period[129]. - The company has confirmed the independence of all independent non-executive directors as per the listing rules[133]. Operational Efficiency and Cost Management - The company aims to achieve annual cost reduction targets by implementing lean management and enhancing cost control systems[64]. - The management emphasizes continuous improvement in production and operational efficiency through strong incentives and accountability measures[66]. - The company is focused on optimizing asset structure by disposing of unprofitable and inefficient enterprises to concentrate resources on high-efficiency businesses[64]. Employee and Director Compensation - The compensation for executive directors is composed of five parts: basic annual salary, performance annual salary, tenure incentives, incremental rewards, and special rewards, with performance annual salary determined based on the company's annual comprehensive assessment[143]. - The company emphasizes a performance-oriented compensation structure, linking salary increases to performance improvements and decreases to performance declines[148]. - The company provides ongoing training, compensation packages, and a range of additional benefits, including retirement benefits, housing allowances, and medical insurance[142]. Financial Instruments and Agreements - The company successfully issued medium-term notes raising RMB 500 million at an interest rate of 2.77%, reducing the overall financing cost to 3.3%[35]. - The company has entered into a new financial services agreement with Guangsheng Finance, which will provide deposit, settlement, and credit services for a period of three years, pending approval from independent shareholders[107]. - The company has guaranteed a loan of RMB 200 million for its subsidiary, Tangshan Wandes Environmental Technology Co., Ltd., and has compensated RMB 111.0977 million to HSBC Bank for this loan[112].

Financial Performance - The company's operating revenue for Q1 2025 was RMB 695,899,414.83, a decrease of 11.92% compared to RMB 790,088,128.25 in the same period last year[6]. - The net loss attributable to shareholders was RMB -146,335,432.14, showing an improvement of 6.12% from RMB -155,869,080.45 year-on-year[6]. - The basic and diluted earnings per share were both RMB -0.13, reflecting a 7.14% improvement from RMB -0.14 in the same period last year[6]. - Total operating revenue for the current period was RMB 695.90 million, a decrease of 11.93% from RMB 790.09 million in the previous period[23]. - Net loss for the current period was RMB 172.27 million, compared to a net loss of RMB 192.94 million in the previous period, showing an improvement of 10.00%[24]. - The company reported an operating profit of RMB -172.90 million, an improvement from RMB -191.16 million in the previous period[24]. - Other comprehensive income after tax for the current period was RMB 6,429.28, compared to RMB -781.25 in the previous period[25]. Cash Flow - The net cash flow from operating activities increased significantly to RMB 1,180,864.64, a 100.98% improvement from RMB -119,987,293.03 in the previous year[13]. - Operating cash flow generated a net amount of ¥1,180,864.64, a significant improvement from a net outflow of ¥119,987,293.03 in the previous period[27]. - Cash inflow from investment activities totaled ¥641,935,658.02, compared to ¥240,974,203.29 in the prior period, indicating a strong increase[28]. - The net cash flow from financing activities was ¥299,786,912.52, up from ¥78,275,984.76 in the previous period, reflecting improved financing conditions[28]. - Cash received from borrowings amounted to ¥1,343,268,074.48, compared to ¥605,790,064.34 in the prior period, highlighting increased borrowing activity[28]. - The company paid ¥1,003,586,033.08 in debt repayments, which is significantly higher than ¥473,555,589.93 in the previous period, reflecting a focus on debt reduction[28]. - The company received tax refunds of ¥2,510,072.39, an increase from ¥1,621,890.52 in the previous period, indicating improved tax recovery efforts[27]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 11,278,546,915.57, showing no significant change from RMB 11,278,479,415.46 at the end of the previous year[6]. - The company's equity attributable to shareholders decreased by 4.03% to RMB 3,454,826,025.41 from RMB 3,599,850,228.42[6]. - Total current assets at the end of the period amount to RMB 3,698,493,793.28, an increase from RMB 3,563,956,903.50 at the beginning of the year[19]. - Total non-current assets amount to RMB 7,580,053,122.29, down from RMB 7,714,522,511.96 at the beginning of the year[20]. - Total liabilities amount to RMB 3,513,772,246.21, a decrease from RMB 3,877,229,219.04 at the beginning of the year[20]. - Total liabilities increased to RMB 7.30 billion, up from RMB 7.13 billion in the previous period, reflecting a growth of 2.40%[21]. - Total equity decreased to RMB 3.98 billion, down from RMB 4.15 billion in the previous period, a decline of 4.12%[21]. Investment Income - The company reported a significant increase in investment income, rising by 117.91% to RMB 1,211,830.53 from a loss of RMB -6,767,501.77 in the previous year[12]. - The company recorded investment income of RMB 1.21 million, a significant recovery from a loss of RMB 6.77 million in the previous period[23]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 31,116[15]. - Guangdong Guangsheng Holdings Group Co., Ltd. holds 24.09% of shares, totaling 266,279,028 shares[15]. - HKSCC NOMINEES LIMITED holds 18.10% of shares, totaling 200,097,387 shares[15].

一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | -0.1300 | -0.1400 | 7.14 | -0.1300 | | 每股净资产（元） | 3.13 | 3.93 | -20.36 | 4.48 | | 每股公积金(元) | 1.19 | 1.28 | -7.03 | 0.51 | | 每股未分配利润(元) | 0.67 | 1.39 | -51.8 | 2.64 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 6.96 | 7.9 | -11.9 | 8.29 | | 净利润(亿元) | -1.46 | -1.56 | 6.41 | -1.18 | | 净资产收益率(%) | -4.15 | -3.53 | -17.56 | -2.94 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 72734.04万股，累计占流通股比： ...

Group 1 - The company has not yet established any cooperative projects with China Resources Environmental Group [1] - Building a recycling resource circular economy industry chain is a key focus for the company in the near term [1] - The company is actively seeking partnerships with excellent enterprises, including China Resources Environmental Group [1]

Financial Performance - The company reported a basic earnings per share of -0.7300 yuan for 2024, an improvement of 1.35% compared to -0.7400 yuan in 2023 [1] - The net profit for 2024 was -8.04 billion yuan, which is a 7.2% increase in losses compared to -7.5 billion yuan in 2023 [1] - The operating revenue decreased by 13.3% to 34.87 billion yuan in 2024 from 40.22 billion yuan in 2023 [1] - The return on equity was -19.86% in 2024, slightly worse than -19.67% in 2023 [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 73,004.11 million shares, accounting for 66.04% of the circulating shares, with an increase of 6,403.90 million shares compared to the previous period [2] - Guangdong Guangsheng Holding Group Co., Ltd. is the largest shareholder, holding 26,627.90 million shares, which is 24.09% of the total share capital, with an increase of 6,531.07 million shares [3] - HKSCC Nominees Limited holds 20,009.64 million shares, representing 18.10% of the total, with a slight decrease of 0.10 million shares [3] Dividend Policy - The company has announced no distribution or capital increase for the current period [2]

Financial Performance - Total operating revenue for the year ended December 31, 2024, was RMB 3,486,660,703.09, a decrease of 13.3% from RMB 4,022,468,104.97 in 2023[4] - The net loss for the year was RMB 887,555,367.20, slightly improved from a net loss of RMB 889,471,556.60 in 2023[6] - The company reported a total comprehensive loss of RMB 879,614,734.63 for the year, compared to a loss of RMB 887,834,965.46 in 2023[8] - Basic and diluted earnings per share were both -0.7276, compared to -0.7422 in the previous year[8] - Total revenue from sales decreased from CNY 4,508,127,008.82 in 2023 to CNY 3,593,154,729.00 in 2024, a decline of approximately 20.3%[20] - The company reported a total comprehensive income of RMB 27,174,888.46 for the year 2024[27] - The company reported a net loss of RMB 750,470,568.53 in retained earnings, indicating a significant financial challenge[28] - The total comprehensive income for the year was not explicitly stated but is critical for assessing overall performance[29] Operating Costs and Expenses - Total operating costs for the same period were RMB 4,126,507,304.61, down 13.4% from RMB 4,762,790,408.38 in 2023[4] - The total operating cost for 2024 was RMB 3,291,640,521.96, down from RMB 3,848,321,757.55 in 2023, indicating a reduction of about 14.5%[48] - Employee costs decreased to RMB 607,864,835.76 in 2024 from RMB 679,044,305.42 in 2023, a reduction of about 10.5%[50] - Financial expenses increased to approximately RMB 185,776,247, accounting for 5.33% of total revenue, up from 4.20% in 2023[78] Assets and Liabilities - Total current assets decreased from CNY 3,660,957,317.77 in 2023 to CNY 3,563,956,903.50 in 2024, a decline of approximately 2.67%[11] - Total non-current assets decreased from CNY 8,500,540,326.78 in 2023 to CNY 7,714,522,511.96 in 2024, a decline of approximately 9.23%[13] - The company's total assets decreased from CNY 12,161,497,644.55 in 2023 to CNY 11,278,479,415.46 in 2024, a decline of about 7.26%[17] - Total liabilities increased slightly from CNY 7,119,601,250.60 in 2023 to CNY 7,127,589,598.80 in 2024, an increase of about 0.11%[17] - The company reported net current assets of RMB -313,272,315.54 in 2024, down from RMB 384,885,371.03 in 2023[68] Cash Flow - Net cash flow from operating activities improved to CNY 125,419,243.55 in 2024 from CNY 1,029,346.14 in 2023, a significant increase[20] - Cash inflow from investment activities increased to $2.21 billion in 2024 from $1.12 billion in 2023, representing a 97.1% increase[22] - Net cash outflow from investment activities improved to -$124.37 million in 2024 compared to -$493.55 million in 2023, a reduction of 74.8%[22] - The net increase in cash and cash equivalents was -$221.50 million in 2024, down from an increase of $619.95 million in 2023[24] Revenue Breakdown - Precious metal recycling sales revenue decreased to RMB 858,015,108.43 in 2024 from RMB 1,501,434,130.80 in 2023, representing a decline of 42.8%[38] - Industrial waste resource utilization sales revenue increased to RMB 1,301,252,837.78 in 2024, up 15.2% from RMB 1,129,149,057.14 in 2023[38] - Municipal waste treatment service revenue decreased to RMB 106,092,899.41 in 2024, down 32.1% from RMB 156,129,822.62 in 2023[38] Strategic Initiatives - The company plans to focus on market expansion and new product development in the upcoming fiscal year[27] - The company is exploring potential mergers and acquisitions to enhance its market position[27] - The company aims to enhance resource utilization efficiency and actively eliminate outdated production capacity in the hazardous waste industry[98] - The company plans to implement lean management to deepen cost control, aiming to achieve annual cost reduction targets by optimizing non-operating expenses and capital investments[104] Tax and Regulatory Matters - The company benefits from a reduced corporate income tax rate of 15% due to its status as a high-tech enterprise, which applies to several subsidiaries[56] - The company is eligible for a 100% VAT refund on income generated from biogas produced from waste fermentation for the period from January to December 2024[58] - The company qualifies for a 30% VAT refund on the production and sale of resource utilization products for the period from January to December 2024[58] Legal and Compliance Issues - The company is involved in a lawsuit with Jiangxi Environmental Protection Co., with a claim amounting to RMB 96,317,554.88 frozen in a special fundraising account[119] - The company is subject to a lawsuit for environmental pollution costs amounting to RMB 88,750,905.60, plus related interest[122] - The first court hearing for the lawsuit is scheduled for March 12, 2025, but no judgment has been made yet[120] Future Outlook - The company expects a net profit attributable to shareholders in 2025 to decrease by no less than 20% year-on-year[116] - The company anticipates a revenue growth of no less than 20% year-on-year for 2025[116]

东江环保股份有限公司 二、本人不存在《中华人民共和国公司法》第一百四十六条等规定不得担 任公司董事的情形。 √是 □否 三、本人符合中国证监会《上市公司独立董事管理办法》和深圳证券交易 所业务规则规定的独立董事任职资格和条件。 √是 □否 四、本人符合该公司章程规定的独立董事任职条件。 独立董事候选人声明与承诺 声明人萧志雄作为东江环保股份有限公司第八届董事会独立董事候选人， 已充分了解并同意由提名人东江环保股份有限公司董事会提名为东江环保股份 有限公司（以下简称该公司）第八届董事会独立董事候选人。现公开声明和保 证，本人与该公司之间不存在任何影响本人独立性的关系，且符合相关法律、 行政法规、部门规章、规范性文件和深圳证券交易所业务规则对独立董事候选 人任职资格及独立性的要求，具体声明并承诺如下事项： 一、本人已经通过东江环保股份有限公司第七届董事会提名委员会或者独 立董事专门会议资格审查，提名人与本人不存在利害关系或者其他可能影响独 立履职情形的密切关系。 √是 □否 √是 □否 五、本人已经参加培训并取得证券交易所认可的相关培训证明材料(如有)。 √是 □否 六、本人担任独立董事不会违反《中华人民共和国公 ...

DONGJIANG ENVIRONMENTAL COMPANY LIMITED* 東江環保股份有限 公 司 (股份代號：00895) (於中華人民共和國註冊成立之股份有限公司) 2024 中期報告 *僅供識別 執行董事 審計與風險管理委員會 王碧安（董事長） 蕭志雄（主席） （於2024年2月21日獲委任） 李金惠 李向利（總裁）（於2024年2月21日獲委任） 郭素頤 余 帆（於2024年2月21日獲委任） 譚 侃（董 事 長）（於2024年2月21日辭任） 薪酬與考核委員會 余中民（總 裁）（於2024年1月16日辭任） 郭素頤（主席） 林培鋒（於2024年1月16日辭任） 黃洪剛（於2024年2月21日獲委任並於 2024年7月23日辭任） 李金惠（於2024年2月21日辭任） 非執行董事 蕭志雄 劉曉軒（於2024年2月21日獲委任） 晉永甫 提名委員會 黃洪剛（於2024年7月23日辭任） 李金惠（主席） 王碧安（於2024年2月21日獲委任） 獨立非執行董事 譚 侃（於2024年2月21日辭任） 李金惠 蕭志雄 蕭志雄 郭素頤 公司資料 戰略發展委員會 | --- | --- | |------- ...

Financial Performance - Dongjiang Environmental Company reported unaudited interim results for the six months ended June 30, 2024[1]. - Total operating revenue for the first half of 2024 was approximately $1.55 billion, a decrease of 22.5% compared to $2.01 billion in the same period of 2023[21]. - The net loss for the first half of 2024 was approximately $319.31 million, compared to a net loss of $254.09 million in the first half of 2023, representing a 25.7% increase in losses[23]. - The total comprehensive loss for the first half of 2024 was approximately -$319.33 million, compared to -$254.12 million in the first half of 2023[26]. - The company reported a basic loss attributable to ordinary equity shareholders of approximately RMB 257.36 million for the period, compared to a loss of RMB 198.92 million for the six months ended June 30, 2023[67]. - The company reported a total comprehensive income of -198,959,599.96 for the period, indicating a significant loss compared to the previous period[40]. - The company achieved a positive operating cash flow of approximately RMB 154 million, reversing from negative cash flow year-on-year[77]. Assets and Liabilities - As of June 30, 2024, total assets amounted to RMB 11,713,938,485.21, a decrease from RMB 12,161,497,644.55 at the beginning of the period, reflecting a decline of approximately 3.7%[12]. - Total liabilities were RMB 6,989,544,095.46, down from RMB 7,119,601,250.60, showing a reduction of around 1.8%[14]. - Current liabilities increased to RMB 4,159,596,583.52 from RMB 3,276,071,946.74, marking an increase of approximately 27%[13]. - The company's net current assets as of June 30, 2024, were negative at RMB -680.42 million, a decline from positive net current assets of RMB 384.89 million as of December 31, 2023[72]. - The total liabilities as of June 30, 2024, were RMB 4,159.60 million, compared to RMB 3,276.07 million as of December 31, 2023, indicating a significant increase in liabilities[72]. Revenue Breakdown - The revenue from industrial waste resource utilization was RMB 564,376,350.26, an increase of 9.5% from RMB 515,553,048.07 in the previous year[48]. - The revenue from precious metal recovery was RMB 396,750,877.20, a significant decrease of 53.0% compared to RMB 843,855,229.41 in the same period last year[48]. - The revenue from municipal waste treatment was RMB 61,648,664.38, down 26.0% from RMB 83,303,128.54 in the previous year[48]. - The revenue from environmental engineering and services increased to RMB 50,003,630.90, up 22.5% from RMB 40,919,720.05 in the previous year[48]. - The revenue from electronic waste dismantling was RMB 54,742,150.14, a decrease of 9.0% compared to RMB 60,256,200.01 in the previous year[48]. Shareholder Information - The major shareholder of the company is Baowu Group Environmental Resource Technology Co., Ltd.[5]. - Major shareholder Guangsheng Holdings Group holds 29.42% of A-shares and 12.58% of H-shares, representing significant ownership stakes[101]. - The board of directors does not recommend the payment of any interim dividend for the six months ended June 30, 2024, consistent with the previous year[109]. Corporate Governance - The company emphasizes compliance with the Hong Kong Stock Exchange listing rules in its announcements[1]. - The audit and risk management committee has reviewed the interim results and financial statements for the six months ended June 30, 2024, but the financial statements have not been reviewed by the company's auditor[107]. - The company has complied with all applicable provisions of the corporate governance code during the reporting period, with minor deviations noted[110]. Strategic Focus - The company has a strategic focus on environmental services and resource recycling[3]. - The company plans to focus on market expansion and new product development in the upcoming quarters[11]. - The company is focusing on high-end product development and has launched its first batch of fireworks-grade copper oxide products during the reporting period[79]. - The company is focusing on expanding its market presence and enhancing its service offerings, although specific new products or technologies were not detailed in the report[52]. Taxation and Financial Management - The effective corporate income tax rates for the company varied, with the main entity at 15%, while others ranged from 15% to 25% depending on the subsidiary[58]. - The company benefits from various tax incentives, including a 100% VAT refund on income from biogas generated from waste fermentation and a 70% VAT refund on waste treatment services[65]. - The current income tax expense for the first half of 2024 was approximately 4.76 million, compared to a negative income tax expense of 1.73 million in the same period of 2023, showing a significant turnaround[56]. Research and Development - Research and development expenses increased slightly to approximately $65.04 million, compared to $63.74 million in the same period of 2023[21]. - The company filed for 25 new patents during the reporting period, bringing the total to 688 authorized patents[80].