Financial Performance - Revenue for the year was HKD 8,048,171,000, a decrease of 5% compared to HKD 8,446,999,000 in the previous year[1] - EBITDA was HKD 2,175,944,000, down 23% from HKD 2,837,942,000 year-on-year[1] - Profit attributable to equity shareholders was HKD 340,201,000, a significant decline of 69% from HKD 1,110,385,000 in the previous year[1] - Total comprehensive income for the year was a loss of HKD 1,244,305,000, compared to a profit of HKD 1,546,104,000 in the previous year[3] - The company's revenue for the year ended December 31, 2022, was approximately HKD 8,048,171,000, a decrease of 5% compared to HKD 8,446,999,000 in 2021[44] - The company's profit attributable to equity shareholders for the year was approximately HKD 340,201,000, a decrease of 69% from HKD 1,110,385,000 in 2021[44] - Basic earnings per share for the year were HKD 0.1647, down 37.27 HKD cents from HKD 0.5374 in 2021[44] - Gross profit for 2022 was HKD 1,683,448,000, down 28.3% from HKD 2,345,971,000 in the previous year[183] - The net profit for the year was HKD 345,000,000, a significant decline of 69.1% compared to HKD 1,120,031,000 in 2021[183] Dividends - No final dividend was declared, compared to a final dividend of HKD 0.04 per share last year; total annual dividend per share decreased by 67% to HKD 0.036 from HKD 0.11[1] - The total dividend for the year 2022 is HKD 3.6 per share, with a dividend payout ratio of 21.9%, down from HKD 11.0 per share in 2021[151] Assets and Liabilities - Total assets decreased to HKD 39,156,376,000 from HKD 40,539,581,000 year-on-year[14] - Total liabilities decreased to HKD 25,622,091,000 from HKD 26,394,214,000 year-on-year[14] - The company's total loans as of December 31, 2022, amounted to approximately HKD 20,736,525,000, an increase of about HKD 185,429,000 from HKD 20,551,096,000 at the end of 2021[176] - The total liabilities decreased to HKD 16,560,319,000 in 2022 from HKD 17,739,255,000 in the previous year[189] - The group's total assets as of December 31, 2022, were approximately HKD 39.16 billion, a decrease from HKD 40.54 billion in 2021, while net assets were about HKD 13.53 billion, down from HKD 14.15 billion[141] Cash Flow and Financing - The company has a cash and bank balance of approximately HKD 2,003,293,000, with unused bank loan facilities amounting to HKD 8,545,654,000, providing a total of approximately HKD 10,548,947,000 in available cash and credit[44] - The bank financing limit was approximately HKD 25,342,733,000, up from HKD 24,334,199,000 in the previous year[176] - The company applied to the Interbank Market Dealers Association for the registration of debt financing instruments totaling up to RMB 5 billion, with the issuance planned over multiple tranches[46] - The company registered a maximum issuance amount of RMB 4 billion for perpetual medium-term notes in the interbank bond market[79] Operational Performance - The company recorded a decrease of 23% in earnings before interest, taxes, depreciation, and amortization (EBITDA) to approximately HKD 2,175,944,000 from HKD 2,837,942,000 in 2021[44] - The company operated and completed 50 biomass utilization projects, generating approximately 6,009,489 MWh of electricity, with steam supply increasing by 12% to about 2,411,215 tons compared to the previous year[82] - The total amount of biomass raw materials processed reached approximately 8,185,800 tons, an increase of 3%, while municipal waste processed increased by 18% to about 3,457,231 tons[84] - The company has 25 ongoing projects as of December 31, 2022, including 2 biomass utilization projects and 15 environmental remediation projects[69] - The company completed 16 new projects and signed one biomass heating supplementary agreement during the year, with a total investment of approximately RMB 350 million[68] Environmental and Social Governance (ESG) - The company received multiple awards for its ESG performance, including the "ESG Annual Award - Main Board Small Cap" and "Best ESG Report Award - Main Board Small Cap" in 2022[77] - The company has established a risk management system and identified environmental, social, and governance-related risk factors to guide compliance operations[43] - The company emphasizes the importance of corporate governance to enhance enterprise value and accountability, creating long-term value for stakeholders[135] - The group is committed to optimizing its talent selection mechanism and enhancing internal recommendations to retain core talent[127] - The company did not record any significant losses or impacts due to violations of environmental laws and standards in 2022[150] Strategic Initiatives - The company signed a cooperation agreement with Alibaba Cloud to advance new energy development and digital transformation, aiming to capture opportunities in the digital new energy sector[41] - The company is actively pursuing transformation and development opportunities in line with the national dual carbon strategy, including partnerships for low-carbon city initiatives[41] - The company plans to enhance operational quality and efficiency through refined management and optimize project operating costs in biomass utilization[95] - The company aims to consolidate its core business while promoting transformation, closely monitoring policy and market dynamics[95] - The company plans to actively track the progress of the national carbon trading market and prepare for the national certified voluntary emission reduction (CCER) and green electricity trading markets[121]

Financial Performance - Revenue for the first half of 2022 was HK$4,220,291, a decrease of 2% from HK$4,318,742 in the same period of 2021[7]. - EBITDA for the first half of 2022 was HK$1,296,684, down 18% from HK$1,590,554 in the previous year[7]. - Profit attributable to equity shareholders decreased by 47% to HK$371,871 from HK$702,030 in the first half of 2021[7]. - Return on shareholders' equity for the first half of 2022 was 2.75%, a decline of 2.65 percentage points from 5.40% in the same period of 2021[7]. - Basic earnings per share dropped by 47% to 18.00 HK cents compared to 33.98 HK cents in the first half of 2021[7]. - The Group's revenue for the period decreased by 2% to approximately HK$4,220,291,000 from HK$4,318,742,000 in the same period last year[28]. - EBITDA decreased by 18% to approximately HK$1,296,684,000 compared to HK$1,590,554,000 for the same period last year[28]. - Profit attributable to equity shareholders decreased by 47% to approximately HK$371,871,000 from HK$702,030,000 in the same period last year[28]. - Basic earnings per share for the first half of 2022 was HK18.00 cents, down HK15.98 cents from HK33.98 cents for the same period last year[28]. - The total comprehensive loss for the period was HK$397,850, compared to a total comprehensive income of HK$1,112,040 in the previous year[121]. Assets and Liabilities - Total assets increased by 2% to HK$41,352,217 from HK$40,539,581 at the end of 2021[7]. - Total liabilities also rose by 2% to HK$26,873,237 from HK$26,394,214 at the end of 2021[7]. - Cash and bank balances stood at HK$3,005,371, reflecting a 14% increase from HK$2,644,110 at the end of 2021[7]. - The Group's total assets amounted to approximately HK$41.35 billion, an increase from HK$40.54 billion at the end of 2021[82]. - The Group's net assets were approximately HK$14.48 billion, up from HK$14.15 billion at the end of 2021, with a net asset value per share of HK$6.43, representing a decrease of 3% from HK$6.66[82]. - The Group's gearing ratio was 64.99%, a decrease of 0.12 percentage points from 65.11% at the end of 2021[82]. - The current ratio improved to 141.74%, an increase of 4.24 percentage points compared to 137.50% at the end of 2021[82]. - Outstanding borrowings rose to approximately HK$21.68 billion, an increase of HK$1.13 billion from HK$20.55 billion at the end of 2021[84]. Government Support and Grants - The Ministry of Ecology and Environment of the PRC has implemented measures to support the environmental protection industry, aiming to drive investment in infrastructure and expedite tax concessions for green development[10]. - The company received approximately RMB69,372,000 in government grants and RMB42,939,000 in value-added tax refunds in the first half of 2022, benefiting from favorable national policies[39]. - The Group received government subsidies totaling approximately RMB 69,372,000 and VAT refunds of approximately RMB 42,939,000 in the first half of 2022[41]. - Certain PRC subsidiaries benefited from tax concessions during the reporting period, although specific details were not disclosed[175]. Project Development and Operations - As of June 30, 2022, the Group had 140 environmental protection projects with a total investment of approximately RMB 32.898 billion and 44 environmental remediation projects with a total contract amount of approximately RMB 1.242 billion[14]. - During the review period, the Group secured 6 new projects and made an additional investment for 1 existing project, with a total investment of approximately RMB 229 million and environmental remediation projects totaling approximately RMB 77.85 million[14]. - The designed capacity for power generation increased by 13.204 MW, and the daily household waste processing capacity increased by 400 tonnes[14]. - The Group commenced recycling of bulk industrial solid waste, end-of-life tyres, and biomass ash, and advanced the project for the development of safe and efficient incineration technology for industrial solid waste[16]. - The Group continued to enhance its production and operation management regime, implementing standardized and intelligent production operations for integrated biomass utilization and hazardous waste treatment[18]. - The Group's operational management standards were developed to ensure compliance with environmental and safety regulations, enhancing risk control measures[18]. Market Challenges and Strategic Adjustments - The decrease in revenue and profit was mainly due to a reduction in construction services revenue following strategic adjustments due to changes in national policies and market developments[30]. - The pandemic significantly increased raw material costs in the integrated biomass utilization segment due to regional control measures[30]. - The external environment posed significant challenges, including supply chain disruptions and rising raw material costs, impacting overall economic growth in China[12]. - The Group aims to enhance its principal business operations by closely monitoring policy and market developments and optimizing project operation costs in its integrated biomass utilization business[76]. - The hazardous and solid waste treatment business will improve its service mechanism to consolidate market resources and expand its business boundaries[76]. Corporate Governance and Management - The Company has fully complied with the Corporate Governance Code provisions from January 1, 2022, to June 30, 2022[104]. - The Audit and Risk Management Committee reviewed the audited annual financial results for the year ended December 31, 2021, and the unaudited interim results for the six months ended June 30, 2022[108]. - The Company established a Sustainability Committee to oversee management effectiveness in sustainability matters across different business segments[105]. - The Management Committee supervises daily operations and reports major decisions to the Board[104]. - The Company has set up an internal audit department and a risk management department to enhance governance[104]. Dividend and Shareholder Information - An interim dividend of HK3.6 cents per share was declared for the six months ended June 30, 2022, down from HK7.0 cents per share in 2021[40]. - The interim dividend reflects a decrease in payout compared to the previous year, indicating a potential shift in financial strategy[119]. - The Company has maintained a consistent dividend payout ratio, reflecting stable financial management practices[119]. - The weighted average number of ordinary shares remained constant at 2,066,078,000 for both periods, indicating no dilution effect[180]. Segment Performance - The Group operates through four reportable segments: integrated biomass utilization, hazardous and solid waste treatment, environmental remediation, and solar energy and wind power project operations[142][144][146][148]. - Revenue from the integrated biomass utilization segment includes construction services, operation services, and finance income, contributing significantly to the Group's overall performance[142][144]. - The hazardous and solid waste treatment segment generates revenue from construction services and operation services, focusing on landfill and incineration projects[144][146]. - The environmental remediation segment involves the operation of projects for restoring contaminated sites and managing industrial emissions, contributing to the Group's sustainability goals[146][148]. - The solar energy and wind power segment focuses on generating revenue from the operation of renewable energy projects, aligning with market trends towards sustainability[146][148].

Business Focus and Strategy - Everbright Greentech reported a focus on integrated biomass utilization, hazardous and solid waste treatment, and environmental remediation, with operations spanning 15 provinces in China and extending to Germany[3]. - The company aims to become a leader in China's environmental business sector, supported by China Everbright Group and its extensive project portfolio[4]. - The company emphasizes a "Prudent, Proactive and Practical" approach to its development strategy, ensuring long-term stability[4]. - Future outlook includes continued market expansion and potential new projects in the environmental sector[4]. - The company is committed to sustainability and has outlined its strategies in the sustainability report section of the annual report[6]. - The company emphasized an innovation-driven approach to reinforce its principal businesses while focusing on the Dual Carbon goals[17]. - The company aims to drive long-term development with higher standards and superior management in the environmental industry[17]. - The company aims to maintain stable operations while actively fostering new business growth niches in line with the national "14th Five-Year Plan" and Dual Carbon strategy[28]. Financial Performance - The financial highlights section of the annual report provides detailed insights into the company's performance, including revenue and profit figures[6]. - Everbright Greentech's financial summary includes key metrics that reflect its operational efficiency and market position[8]. - Revenue decreased by 14% to HK$8,446,999,000 from HK$9,835,376,000[10]. - EBITDA fell by 7% to HK$2,837,942,000 compared to HK$3,064,595,000[10]. - Profit attributable to equity shareholders decreased by 26% to HK$1,110,385,000 from HK$1,502,532,000[10]. - Total assets increased by 15% to HK$40,539,581,000 from HK$35,264,668,000[10]. - Total liabilities rose by 18% to HK$26,394,214,000 from HK$22,397,827,000[10]. - Equity attributable to equity shareholders increased by 10% to HK$13,761,195,000 from HK$12,524,282,000[10]. - Basic earnings per share decreased by 26% to 53.74 HK cents from 72.72 HK cents[10]. - Cash and bank balances decreased by 3% to HK$2,644,110,000 from HK$2,727,053,000[10]. - Gearing ratio increased to 65.11% from 63.51%, a change of 1.60 percentage points[10]. - Current ratio decreased to 137.50% from 156.20%, a change of 18.70 percentage points[10]. Project Development and Achievements - Everbright Greentech has introduced integrated urban and rural waste treatment projects, marking a significant innovation in the industry[3]. - The company successfully issued the nation's first carbon-neutral and rural vitalization green panda medium-term notes for an amount of RMB 1 billion, providing long-term financial assurance for sustainable development[6]. - The Huangshi Integrated Hazardous Waste Treatment Project in Hubei Province was completed, marking it as the largest venous industrial park project invested in and built by the company[6]. - The company signed for the Huai'an Integrated Biomass and Waste-to-energy Project (Waste-to-energy Phase II) in Jiangsu Province and the Mianzhu Integrated Biomass and Waste-to-energy Project (Waste-to-energy Phase II) in Sichuan Province[6]. - The company reported continuous efforts to enhance operational quality and explore new business opportunities, particularly in the solar energy market[22]. - The Zhangjiagang Hazardous Waste Incineration Project and Hazardous Waste Landfill Project in Jiangsu Province were completed and commenced operation[6]. - In 2021, the company implemented 136 environmental projects with a total investment of approximately RMB 32.669 billion[37]. - The company secured 42 environmental remediation projects with a total contract value of approximately RMB 1.165 billion[37]. - The Group completed construction and commenced operation for 28 projects during the year under review[44]. - The Group operated and completed 36 hazardous and solid waste treatment projects, treating approximately 245,676 tonnes of waste, a 51% increase compared to 2020[90]. Environmental and Social Responsibility - The company received the "EcoChallenger" certificate and the "Special Mention for ESG in the Non-Hang Seng Index (Small Market Capitalization) Category" in the "Best Corporate Governance & ESG Awards 2021" presented by HKICPA[23]. - The company was recognized for its contributions to ecological civilization and social responsibility, enhancing its ESG competence[23]. - The Group's environmental, safety, health, and social responsibility management system was deepened to enhance operational safety and reduce accident risks[46]. - The Group has been recognized for its social responsibility efforts during the pandemic, including assisting local governments with medical waste management[192]. - The Group actively participated in government environmental projects aimed at achieving Dual Carbon goals, focusing on waste disposal and renewable energy[191]. Risk Management and Compliance - The Group's risk management framework was enhanced with the formulation of "Greentech Risk Appetite 2021" and comprehensive risk inspections conducted[50]. - Key risks identified include policy changes, trade receivables, environmental compliance, and recruitment, with measures in place to mitigate these risks[172][174]. - The Group has established a mechanism for managing trade receivables, conducting regular analyses to ensure timely collection and reduce bad debt risks[177]. - The Group has established a risk examination committee to enhance the quality of investment project evaluations and strengthen risk management prior to project investments[182]. - The Group has implemented a comprehensive risk management regime to ensure effective execution of management systems and compliance with regulations[158]. - No breaches of major environmental laws and regulations were recorded in 2021, ensuring compliance and minimizing operational risks[193]. Human Resources and Management - The Group has implemented a series of administrative measures to enhance human resources management, including recruitment, induction, and remuneration regulations[167][168]. - The Group emphasizes the importance of diversity and inclusivity in the workplace, actively seeking talents from various backgrounds to foster a harmonious work environment[169]. - The Group actively promotes talent acquisition and training to enhance employee skills and organizational effectiveness[163]. - Special training sessions for management personnel have been organized to improve management efficiency and operational effectiveness[164]. - As of December 31, 2021, the Group employed over 3,800 employees in Hong Kong and Mainland China, with total staff costs amounting to HK$774,257,000, an increase from HK$638,850,000 in 2020[170][171]. Technological Innovation and Operational Efficiency - The Group emphasized technological innovation, holding 205 authorized patents, including 25 invention patents and 175 utility model patents, as of December 31, 2021[45]. - The Group commenced trial operations of autonomous fuel intake and storage projects for 5 integrated biomass utilization projects to enhance operational efficiency[46]. - The introduction of industry-leading technologies aims to enhance operational management and cost control across projects[157]. - The Group has enhanced internal management to improve operational efficiency and address project issues more effectively during the ongoing COVID-19 pandemic[154]. - The Group has improved feasibility studies to increase the accuracy of budget estimates, ensuring better alignment with design tasks[184]. Market Trends and Future Outlook - The Chinese government included the Dual Carbon strategy in its overall planning, creating favorable opportunities for the low-carbon green industry[34]. - The environmental protection industry in China is anticipated to experience robust development opportunities under the "14th Five-Year Plan" and the Dual Carbon strategy, leading to intensified market competition[114]. - The Group's strategy includes extending the length of the industry chain, penetrating deeper into market shares, and broadening the scope of business to drive quality and efficiency improvements[114]. - The Group plans to enhance management of its carbon assets and closely monitor the development of the national carbon market, which is expected to expand its industry coverage and trading varieties[112].

Financial Performance - Revenue for the first half of 2021 was HK$4,318,742, a 2% increase from HK$4,245,875 in the same period of 2020[7] - EBITDA for the first half of 2021 was HK$1,590,554, also reflecting a 2% increase from HK$1,565,385 in the previous year[7] - Profit attributable to equity shareholders decreased by 15% to HK$702,030 from HK$822,208 in the first half of 2020[7] - Return on shareholders' equity for the first half of 2021 was 5.40%, down from 7.77% in the same period of 2020, representing a decrease of 2.37 percentage points[7] - Basic earnings per share for the first half of 2021 was HK33.98 cents, a decrease of HK5.82 cents compared to HK39.8 cents for the same period last year[33] - Profit for the period was HK$708,844, representing a decrease of 14.3% compared to HK$827,205 in 2020[125] - Total comprehensive income for the period was HK$1,112,040, up 72.8% from HK$644,150 in 2020[125] Assets and Liabilities - Total assets increased by 9% to HK$38,506,607 from HK$35,264,668 at the end of 2020[7] - Total liabilities rose by 10% to HK$24,657,826 from HK$22,397,827 at the end of 2020[7] - Equity attributable to equity shareholders increased by 8% to HK$13,477,389 from HK$12,524,282[7] - Outstanding borrowings as of June 30, 2021, totaled approximately HK$19,074,475,000, an increase of approximately HK$2,141,102,000 from HK$16,933,373,000 at the end of 2020[76] - The Group's gearing ratio as of June 30, 2021, was 64.04%, up by 0.53 percentage points from 63.51% at the end of 2020[75] Cash Flow and Investments - Net cash flows from operating activities for the first half of 2021 were HK$187,409,000, compared to a net outflow of HK$1,056,112,000 in the same period of 2020, showing a significant turnaround[133] - The company reported cash used in investing activities of HK$1,697,841,000 for the six months ended June 30, 2021, compared to HK$1,014,020,000 in the prior year, indicating increased investment activity[133] - The cash and cash equivalents at the end of the period were HK$2,459,864, an increase from HK$2,361,003 in 2020, representing a growth of approximately 4.2%[135] Environmental Projects and Innovations - The company is positioned to benefit from China's low-carbon green economic development model, which is expected to enhance market prospects for the environmental protection industry[12] - The establishment of the national carbon emission trading market and related centers indicates a growing regulatory framework supporting the company's strategic direction[12] - The Group is actively exploring new commercial models and growth niches in the context of "carbon peak" and "carbon neutrality" strategies[18][19] - The Group's research efforts focused on carbon neutrality, solar energy storage integration, and power batteries recycling during the review period[23][25] - The Group emphasizes technological innovation as a driving force for development, aligning research with business transformation needs[23][25] Project Development and Capacity - As of June 30, 2021, the Group had 130 environmental protection projects with a total investment of approximately RMB 32.141 billion and 40 environmental remediation projects with a total contract amount of approximately RMB 1.131 billion[16][17] - The designed capacity for power generation increased by 13.78 MW, while the designed capacity for household waste treatment, steam supply, and hazardous and solid waste treatment increased by approximately 182,500 tonnes, 450,000 tonnes, and 100,000 tonnes per annum, respectively[20][22] - The Group has 35 projects under construction or implementation as of June 30, 2021, including 3 solar energy projects, 1 integrated biomass utilization project, 18 hazardous and solid waste treatment projects, and 13 environmental remediation projects[21][22] Awards and Recognition - The Group received the "Best in ESG — Small Cap" and "Best in Reporting — Small Cap" awards in the BDO ESG Awards 2021, recognizing its performance in sustainable development and corporate governance[31] Corporate Governance - The audit and risk management committee reviewed significant audit matters and the Group's risk management and internal control during the review period[110] - The Company has established a sustainability committee to oversee management and effectiveness in sustainability matters across different business segments[106] - The Board has been in full compliance with the Corporate Governance Code from January 1, 2021, to June 30, 2021[104] Shareholder Information - The company declared an interim dividend of HK7.0 cents per share for the six months ended 30 June 2021, down from HK8.0 cents in 2020, with a payout ratio of 20.6%[120] - The interim dividend will be paid on or around 4 October 2021[120] - The company reported a decrease in dividends paid to equity shareholders, which amounted to HK$14,515, down from HK$33,378 in 2020, indicating a reduction of approximately 56.5%[134]

all bollin 股份代號 Stock Code: 1257 (於開曼群島註冊成立之有限公司) (Incorporated in the Cayman Islands with limited liability) 2020 ANNUAL REPORT 年報 LAYING A SOLID FOUNDATION AND KEEPING PACE WITH TIMES 牢築根基 • 與時俱進 CORPORATE PROFILE 公司簡介 | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------|-------|---------------------------------------------------------------------------------------------| | | | | | | | | | or the "Company" or to ...

Financial Performance - Revenue for the first half of 2020 was HK$4,245,875, showing a slight increase of 0% compared to HK$4,241,430 in the same period of 2019[13]. - EBITDA for the first half of 2020 reached HK$1,565,385, representing a 14% increase from HK$1,369,150 in the previous year[13]. - Profit attributable to equity shareholders was HK$822,208, a 1% increase from HK$813,184 in the first half of 2019[13]. - Revenue from construction services decreased by 22% to approximately HK$1,735,471,000, while revenue from operation services grew by 25% to approximately HK$2,388,335,000[39]. - Basic earnings per share for the first half of 2020 was HK39.8 cents, an increase of HK0.44 cents from HK39.36 cents in the same period last year[38]. - Profit before tax was HK$1,026,486, a decrease of 1.7% from HK$1,040,544 in the previous year[113]. - The company reported a profit for the period of HK$822,208,000 for the first half of 2020[119]. Assets and Liabilities - Total assets increased by 10% to HK$28,866,900 from HK$26,258,315 at the end of 2019[13]. - Total liabilities rose by 13% to HK$17,770,785 compared to HK$15,670,963 at the end of 2019[13]. - Equity attributable to equity shareholders increased by 5% to HK$10,823,449 from HK$10,346,219[13]. - The net assets of the Group were approximately HK$11,096.1 million, up from HK$10,587.4 million at the end of 2019[69]. - The Group's outstanding borrowings amounted to approximately HK$13,153,296,000, an increase of approximately HK$2,058,520,000 compared to HK$11,094,776,000 at the end of 2019[73]. - The Group's total compensation paid to key management personnel was HK$24,862,000 for the six months ended June 30, 2020, compared to HK$19,206,000 for the same period in 2019[191]. Cash Flow - Cash and bank balances were HK$2,536,693, a decrease of 12% from HK$2,897,486 at the end of 2019[13]. - For the first half of 2020, net cash flows used in operating activities amounted to HK$1,056,112,000, compared to HK$225,572,000 in the same period of 2019, indicating a significant increase in cash outflow[122]. - Cash flows from investing activities showed a net outflow of HK$1,014,020,000 for the first half of 2020, a decrease from HK$2,242,873,000 in the previous year[123]. - The net increase in cash and cash equivalents for the six months ended June 30, 2020, was a decrease of HK$293,686,000, compared to an increase of HK$123,251,000 in 2019[125]. Environmental Projects and Initiatives - As of June 30, 2020, the Group had 116 environmental protection projects with a total investment of approximately RMB 30 billion and undertook 31 environmental remediation projects with a total contract amount of approximately RMB 874 million[20][21]. - The Group started the implementation or construction of 15 new projects and completed and commenced operation of 7 projects during the review period, with a total of 35 projects under construction or implementation as of June 30, 2020[24][26]. - The Group enhanced its environmental, safety, health, and social responsibility (ESHS) system to improve risk management and safety awareness among staff during the review period[27][28]. - The Group's environmental data, including flue emissions and sewage discharge, were synchronized and uploaded to government-regulated platforms for public supervision[36]. - The Group aims to enhance its environmental remediation business to increase its weighting in the overall business portfolio[66]. Strategic Developments - The Group is transitioning some projects from an asset-heavy to an asset-light model to improve efficiency[66]. - The Group plans to expand into new operations such as general industrial solid waste and disposal of waste old tires under its hazardous and solid waste treatment business[66]. - The Group's strategic focus is to align closely with national policies and market trends to enhance investment value and social responsibility[67]. - The Group maintained good communication with government and partners through various channels, driving orderly market expansion[31]. Corporate Governance - The Company has maintained full compliance with the Corporate Governance Code from January 1, 2020, to June 30, 2020[100]. - The audit and risk management committee consists of 3 independent non-executive Directors, overseeing financial reporting and risk management processes[101]. - The Group seeks to strengthen internal control and risk management through relevant rules and regulations[98]. - The management committee is responsible for daily operations and implementing annual and medium-term development plans[100]. Market and Operational Insights - The Group's operations are predominantly based in Mainland China, which constitutes over 95% of its total investments and revenue[78]. - The Group's construction management department controlled construction costs by optimizing designs and extending work hours[31]. - The Group's borrowings included secured interest-bearing borrowings of approximately HK$7,152,816,000 and unsecured interest-bearing borrowings of approximately HK$6,000,480,000[73]. - The Group's finance management department regularly monitors compliance with financial covenants, with no breaches reported as of June 30, 2020[193].

Business Overview - China Everbright Greentech focuses on integrated biomass utilization, hazardous and solid waste treatment, environmental remediation, solar energy, and wind power[1]. - The company has business coverage across 14 provinces and autonomous regions in China, as well as in Germany[1]. - The group aims to become a leader in China's environmental business sector, supported by China Everbright Group Limited and China Everbright International Limited[2]. - The company emphasizes a development strategy that is "Prudent, Proactive and Practical" to fulfill its mission[2]. - The group has a diversified project portfolio and extensive experience in project development and operation[2]. - The company is committed to business innovations and has pioneered integrated urban and rural waste treatment projects in Mainland China[1]. Financial Performance - The financial highlights and performance metrics for 2019 are detailed in the annual report, including consolidated statements of profit or loss and financial position[4]. - Revenue increased by 33% to HK$9,279,555,000 from HK$7,001,820,000[7]. - Profit attributable to equity shareholders rose by 33% to HK$2,161,227,000, with EBITDA reaching HK$2,876,139,000, a 33% increase[7]. - Basic earnings per share increased by 22% to 78.48 HK cents from 64.12 HK cents[7]. - Total assets grew by 41% to HK$26,258,315,000, compared to HK$18,602,802,000[7]. - Total liabilities increased by 71% to HK$15,670,963,000 from HK$9,171,728,000[7]. - Cash and bank balances rose by 28% to HK$2,897,486,000 from HK$2,260,833,000[7]. - The gearing ratio increased by 10.4 percentage points to 59.7%[7]. Project Development and Achievements - The company secured multiple projects, including the Huaiyuan Hazardous Waste Landfill Project and the Yeji Biomass Electricity and Heat Cogeneration Project, expanding its market presence[12][13]. - The company completed and commenced operation of the Weihai Biomass Electricity and Heat Cogeneration Project and the Zhongxiang Integrated Biomass and Waste-to-Energy Project in 2019[18]. - The company secured the Wenling Hazardous Waste Integrated Treatment Project in Zhejiang Province, with an investment of approximately RMB1.366 billion[19]. - The company achieved a 50% increase in on-grid electricity generation and a 125% increase in steam supply from its 32 integrated biomass utilization projects compared to 2018[23]. - The volume of hazardous waste treatment increased by 45% compared to 2018, with 20 operating and completed hazardous and solid waste treatment projects[23]. - The company secured 23 new projects and entered into 5 supplemental agreements in 2019, involving total investments of approximately RMB5.702 billion and new environmental remediation contracts amounting to approximately RMB113 million[23]. - The company was awarded multiple accolades in 2019, including the "InnoESG Prize 2019" and recognition as "Hong Kong Outstanding Enterprises 2019" by Economic Digest[26]. Sustainability and Corporate Governance - The annual report includes a summary of sustainability efforts and corporate governance practices[4]. - The company was recognized in the Hang Seng Corporate Sustainability Benchmark Index, highlighting its commitment to sustainability[17]. - The Group's environmental data, including flue emissions and sewage discharge, was linked to government platforms for real-time public supervision[57]. - The Group's initiatives in environmental protection and community contributions were acknowledged, reinforcing its commitment to sustainable development[55]. Risk Management and Compliance - The Group implemented a "dual prevention mechanism" for safety risk control and environmental management, enhancing safety conditions at project sites[50]. - The Group's risk management system was enhanced with the formulation of a new "Risk Management System," effectively lowering the probability of risks occurring[52]. - The Group has emphasized the use of information technology to enhance the standardization and sophistication of operation management[142]. - The Group's risk management systems were improved to identify and assess significant risks, including changes in environmental policies and market competition[152]. Employee and Community Engagement - The Group employed over 3,000 employees in Hong Kong and Mainland China as of December 31, 2019[151]. - The total staff cost for the Group was approximately HK$590,478,000 as of December 31, 2019, compared to HK$446,230,000 as of December 31, 2018, reflecting an increase of about 32.3%[151]. - The integrated biomass utilization projects provided over 100,000 job positions for local communities and generated approximately RMB 1.564 billion in revenue for local farmers[195]. - The Guanyun Project aimed to turn waste into valuable resources, revitalizing the rural economy and providing employment opportunities, addressing the "Three Rural Issues"[195]. - The Group's initiatives in targeted poverty alleviation included purchasing biomass waste from impoverished families at higher prices, increasing their income and contributing to hunger alleviation[195]. Future Plans and Strategic Focus - The Group plans to implement principles of "progress in stability, opportunities amidst changes, and innovation through progress" in 2020 to address upcoming opportunities and challenges in the environmental sector[27]. - The Group aims to enhance its hazardous and solid waste treatment business, increasing its share in the principal businesses[103]. - The Group plans to transition its integrated biomass utilization business to electricity and heat cogeneration and high value-added businesses[103]. - The Group is actively seeking projects that align with national industrial policies and are commercially viable to achieve business transformation[104]. - The Group aims to optimize its business structure and promote high value-added services in biomass utilization to enhance shareholder returns[110].

Financial Performance - Revenue for the six months ended June 30, 2019, was HK$4,241,430, representing a 35% increase from HK$3,152,907 in the same period of 2018[7] - EBITDA for the same period was HK$1,369,150, up 33% from HK$1,029,065 in 2018[7] - Profit attributable to equity shareholders increased by 26% to HK$813,184 from HK$644,703 in 2018[7] - Basic earnings per share increased by 26% to 39.36 HK cents from 31.20 HK cents in 2018[7] - Profit for the period reached HK$826,361,000, a 27.5% increase from HK$647,977,000 in 2018[116] - Total comprehensive income for the period was HK$752,939,000, down from HK$811,424,000 in 2018, primarily due to exchange differences[119] - The profit attributable to equity shareholders for the six months ended June 30, 2019, was HK$813,184,000, an increase of 26.1% compared to HK$644,703,000 for the same period in 2018[182] Assets and Liabilities - Total assets as of June 30, 2019, were HK$22,596,446, a 21% increase from HK$18,602,802 at the end of 2018[7] - Outstanding borrowings increased to approximately HK$8,356,566,000 as of June 30, 2019, up approximately HK$2,350,007,000 from HK$6,006,559,000 at the end of 2018[72] - The total liabilities increased to HK$16,472,701 from HK$11,007,402, indicating a rise of approximately 49.4%[125] - The net asset value per share attributable to equity shareholders increased by 6% to HK$4.81 per share from HK$4.52 per share at the end of 2018[71] - The Group's gearing ratio increased to 55% as of June 30, 2019, up 6 percentage points from 49% at the end of 2018[71] Cash Flow and Financing - Cash and bank balances were HK$2,345,388, with a gearing ratio of 55% and a current ratio of 163%[7] - The Group has maintained ample cash flow and access to various financing options, indicating sound financial health[24] - Net cash generated from financing activities was HK$2,591,696,000 in the first half of 2019, compared to HK$595,602,000 in the same period of 2018, reflecting a substantial increase in bank loans[132] - The company paid HK$134,295,000 in dividends to equity shareholders, a decrease from HK$185,947,000 in the previous year, reflecting a strategic decision to retain more cash[132] Environmental Projects and Operations - The Group had 106 environmental protection projects with a total investment of approximately RMB28.083 billion as of June 30, 2019[11] - The Group undertook 24 environmental remediation projects with a total contract amount of approximately RMB656 million[11] - The Group's designed power generation capacity increased by 7 MW, biomass processing capacity by approximately 120,000 tonnes per year, steam supply capacity by approximately 775,200 tonnes per year, and hazardous and solid waste treatment capacity by approximately 675,000 tonnes per year[15] - The Group processed approximately 2,020,000 tonnes of biomass raw materials, an increase of 54% year-over-year[42] - The Group's environmental remediation projects increased from 2 to 20 projects compared to the previous year, contributing to the significant profit growth[58] Government Support and Grants - The Group received government grants totaling approximately RMB74,668,000 and VAT refunds of approximately RMB24,453,000 in the first half of 2019[37] - The company received government grants totaling HK$25,605,000 during the six months ended June 30, 2019, compared to HK$14,128,000 in 2018[180] - Value-added tax refunds amounted to HK$28,172,000 for the six months ended June 30, 2019, slightly up from HK$27,621,000 in 2018[180] Corporate Governance and Compliance - The company aims to enhance corporate governance to safeguard shareholders' interests and improve corporate value[98] - The Company has been in full compliance with the Corporate Governance Code from January 1, 2019, to June 30, 2019[99] - The audit and risk management committee consists of 3 independent non-executive directors, responsible for reviewing the effectiveness of financial reporting and risk management systems[102] Market and Industry Outlook - The environmental protection industry is expected to thrive due to ongoing demand for environmental treatment services and government initiatives[9] - The Group aims to extend its industry chain, penetrate deeper into market shares, and widen its business scope through technology and innovation[66] - Future outlook includes further investments in environmental projects and technology advancements to enhance operational efficiency[167] Employee and Staff Costs - The total staff cost for the six months ended June 30, 2019, was approximately HK$231,168,000, compared to HK$177,176,000 for the same period in 2018[82] - The Group employed over 3,000 employees in Hong Kong and Mainland China as of June 30, 2019[82]

ULT I I 光大綠色環保 Everbright Greentech 股份代號 Stock Code: 1257 (於開曼群島註冊成立之有限公司) (Incorporated in the Cayman Islands with limited liability) 6 6 6 H ANNUAL REPORT 年報 2018 LAYING A SOLID FOUNDATION AND KEEPING PACE WITH TIMES 牢築根基 · 與時俱進 CORPORATE PROFILE 公司简介 China Everbright Greentech Limited ("Everbright Greentech" or the "Company" or together with its subsidiaries, the "Group") is a professional environmental protection service provider, with its businesses focusing on integrated biomass utilisation, hazardous ...