Financial Performance - The total comprehensive income for the period was a loss of HK$290,407,000, compared to a profit of HK$251,862,000 in the previous period [21]. - The company reported a loss of HK$764,345,000 from subsidiaries during the period [36]. - The company recorded a loss of HK$385,107,000 from total comprehensive income for the period, with contributions from non-controlling interests amounting to HK$806,982,000 [36]. - Total revenue for the six months ended June 30, 2023, was HK$3,819,944,000, a decrease of 9.5% compared to HK$4,220,291,000 for the same period in 2022 [72]. - Profit attributable to equity shareholders for the six months ended June 30, 2023, was HK$263,862,000, down from HK$371,871,000 in the same period of 2022, indicating a decrease of 29.1% [97]. - The consolidated profit before tax was HK$382,405,000, showing a positive performance despite revenue declines [64]. - EBITDA was approximately HK$1,263,506,000, down 3% from HK$1,296,684,000 year-on-year [150]. - Basic earnings per share for the first half of 2023 were 12.77 HK cents, down 5.23 HK cents from 18.00 HK cents in the same period last year [150]. Cash Flow and Financial Position - For the six months ended June 30, 2023, net cash flows used in operating activities amounted to HK$141,694,000, a decrease from HK$657,329,000 in the same period of 2022 [39]. - Cash flows from investing activities showed a net outflow of HK$954,326,000, compared to HK$1,038,750,000 in the previous year [39]. - The net cash flows from financing activities were HK$1,098,706,000, down from HK$2,201,353,000 in the prior year [42]. - Cash and cash equivalents at the end of the period were HK$1,877,393,000, a decrease from HK$2,871,955,000 in 2022 [43]. - The company incurred HK$353,032,000 in purchases of property, plant, and equipment during the first half of 2023 [39]. - The company reported a decrease in cash used in operations, which was HK$87,933,000 for the first half of 2023, compared to HK$632,281,000 in 2022 [39]. - The total accumulated impairment as of June 30, 2023, was HK$7,944,334,000, compared to HK$7,487,578,000 as of December 31, 2022, indicating an increase of 6.1% [106]. Segment Performance - The Group operates through four reportable segments: Integrated biomass utilisation, Hazardous and solid waste treatment, Environmental remediation, and Solar energy and wind power projects [58]. - Revenue from integrated biomass utilization project operation services was HK$2,463,681,000, down from HK$2,533,370,000 in the previous year, reflecting a decrease of 2.7% [72]. - Revenue from hazardous and solid waste treatment project operation services decreased to HK$521,203,000 from HK$615,203,000, a decline of 15.3% [72]. - Revenue from environmental remediation project operation services increased to HK$79,651,000, up from HK$70,256,000, representing a growth of 13.5% [72]. - Revenue from solar energy and wind power project operation services rose to HK$112,451,000, compared to HK$99,621,000 in the previous year, marking an increase of 12.9% [72]. - Adjusted EBITDA for the reportable segments was HK$1,225,600,000, an increase from HK$1,081,917,000, reflecting a growth of 13.3% [64]. Governance and Management - The company established a Sustainability Committee to oversee management effectiveness in sustainability matters, comprising three working groups focused on operations, community investment, and compliance [12]. - The Management Committee meets monthly to discuss investment proposals and project schedules, ensuring alignment with the Board's strategies [11]. - The company has implemented a series of internal controls and risk management strategies to enhance corporate governance and accountability [10]. - The interim financial report indicates a significant focus on enhancing internal audit and risk management capabilities [13]. - The company aims to create long-term value for stakeholders through robust corporate governance practices [10]. Taxation and Grants - The total tax expense for the period ended June 30, 2023, was HK$111,228,000, an increase from HK$88,084,000 in the same period of 2022, representing a 26.2% increase [90]. - The Group's profit before tax for the six months ended June 30, 2023, was impacted by government grants totaling HK$11,383,000, down from HK$61,922,000 in the same period of 2022 [86]. - The Group received PRC value-added tax refunds of HK$78,400,000 during the six months ended June 30, 2023, compared to HK$51,961,000 in the same period of 2022 [86]. Strategic Initiatives - The company aims to build a comprehensive service provider focused on carbon neutrality, integrating environment, resources, energy, and climate [130]. - The interim report highlights a strategic focus on market expansion and the development of new technologies in the carbon neutrality sector [131]. - The company is actively pursuing long-term stability and adapting to market changes, emphasizing the importance of evolving with times [129]. - The management discussion indicates a commitment to enhancing operational efficiency and exploring new business opportunities in the green technology sector [131]. - The Group emphasized the development of smart energy projects, focusing on "Zero-carbon Industry Park" initiatives [144]. Research and Development - The company continues to deepen its research in carbon trading and various environmental technologies, participating in key national R&D projects [146]. - The Group was awarded the "Outstanding Contribution to Environment Award 2022" by KPMG China for its performance in sustainability [183]. - The Group held 224 authorized patents, including 32 invention patents and 192 utility model patents as of June 30, 2023 [145].

Financial Performance - The company reported a profit of HKD 271,173,000 for the six months ended June 30, 2023, a decrease of 27.4% compared to HKD 373,811,000 for the same period in 2022[3]. - The total comprehensive loss for the period was HKD 113,572,000, compared to a loss of HKD 397,850,000 in the same period last year[3]. - Profit attributable to equity shareholders was approximately HKD 263,862,000, down 29% from HKD 371,871,000 year-on-year[107]. - Basic earnings per share for the period were HKD 263,862,000, a decrease of 29.1% from HKD 371,871,000 for the same period in 2022[59]. - The gross profit for the same period was HKD 957,189, down from HKD 976,694, reflecting a slight decline in profitability[171]. - The financial expenses increased to HKD 398,256 from HKD 367,456, indicating rising costs[171]. Revenue and Income Sources - Revenue from biomass comprehensive utilization project construction services was HKD 419,923,000, up from HKD 331,936,000 in the previous year[15]. - Revenue from hazardous waste disposal project construction services decreased to HKD 43,225,000 from HKD 379,524,000 year-on-year[15]. - Total revenue from construction services, operational services, and financial income from local government agencies in China was HKD 2,909,564,000 for the six months ended June 30, 2023, compared to HKD 3,306,866,000 in 2022, reflecting a decrease of about 12%[55]. - The group recorded revenue of approximately HKD 3,819,944,000, a decrease of 9% compared to HKD 4,220,291,000 in the same period last year[107]. Assets and Liabilities - Non-current assets decreased to HKD 26,347,847,000 from HKD 26,713,314,000 year-on-year[4]. - Current assets increased to HKD 13,281,437,000, up from HKD 12,443,062,000 in the previous year[4]. - The total accounts receivable as of June 30, 2023, was HKD 6,822,725,000, an increase of 10.6% from HKD 6,172,447,000 at the end of 2022[61]. - The total assets of the group as of June 30, 2023, were approximately HKD 39.63 billion, an increase from HKD 39.16 billion at the end of 2022[127]. - The group's debt-to-asset ratio increased to 66.22% as of June 30, 2023, from 65.44% at the end of 2022, reflecting a 0.78 percentage point rise[127]. Dividends and Shareholder Returns - The interim dividend declared on August 11, 2023, is HKD 0.025 per share, down from HKD 0.036 per share in the previous year, totaling approximately HKD 51,652,000 compared to HKD 74,379,000 in 2022, a reduction of about 30.6%[35]. - The company declared an interim dividend of HKD 0.025 per share for the six months ended June 30, 2023, down from HKD 0.036 per share in 2022, with a payout ratio of 19.6% compared to 20.0% in the previous year[154]. Government Support and Taxation - The group received government subsidies amounting to HKD 11,383,000 for the six months ended June 30, 2023, compared to HKD 61,922,000 for the same period in 2022, indicating a significant decrease of approximately 81.7%[33]. - The company recognized a VAT refund of HKD 78,400,000 for the period, an increase from HKD 51,961,000 in the previous year[18]. - Total tax expenses for the period amounted to HKD 111,228,000, up from HKD 88,084,000 in the previous year, representing a significant increase of 26.3%[58]. Operational Developments - The group is actively responding to national ecological civilization initiatives and is focusing on strategic transformation to enhance operational efficiency and sustainable development capabilities[48]. - The company is focusing on enhancing operational quality and adapting to the new economic normal as part of its strategic planning for the "14th Five-Year Plan" period[73]. - The group continues to focus on risk management, particularly regarding the delays in renewable energy price subsidies, which pose liquidity risks due to the accumulation of receivables[76]. Environmental and Sustainability Initiatives - The group has implemented 132 environmental projects with a total investment of approximately RMB 30.44 billion, and has undertaken 54 environmental remediation projects with a total contract value of approximately RMB 1.501 billion[103]. - The group continues to enhance environmental monitoring and public transparency, with 22 projects officially opened to the public and 57 offline public engagement activities conducted, receiving 1,098 visitors[52]. - The company plans to enhance its research and development capabilities and promote innovative business models to align with national strategies and industry changes[96]. Corporate Governance - The board of directors has established three committees: Audit and Risk Management Committee, Nomination Committee, and Remuneration Committee to enhance corporate governance and accountability[148]. - The company has adopted the Corporate Governance Code and has complied with all applicable provisions, except for one deviation regarding the attendance of the chairman at the annual general meeting[151]. - The management committee meets monthly to discuss investment proposals, personnel matters, project progress, and budget execution[148].

Financial Performance - Revenue for 2022 was HK$8,048,171, a decrease of 5% from HK$8,446,999 in 2021[13]. - EBITDA for 2022 was HK$2,175,944, down 23% from HK$2,837,942 in 2021[13]. - Profit attributable to equity shareholders decreased by 69% to HK$340,201 from HK$1,110,385 in 2021[13]. - Return on shareholders' equity fell to 2.60%, a decline of 5.80 percentage points from 8.40% in 2021[13]. - Basic earnings per share dropped by 69% to 16.47 HK cents from 53.74 HK cents in 2021[13]. - Total assets decreased by 3% to HK$39,156,376 from HK$40,539,581 in 2021[13]. - Total liabilities also decreased by 3% to HK$25,622,091 from HK$26,394,214 in 2021[13]. - Equity attributable to equity shareholders fell by 10% to HK$12,384,795 from HK$13,761,195 in 2021[13]. - Cash and bank balances decreased by 24% to HK$2,003,293 from HK$2,644,110 in 2021[13]. - Gearing ratio increased slightly to 65.44% from 65.11% in 2021[14]. Project Development and Operations - The company signed multiple rooftop solar energy projects in Hong Kong and Jiangsu Province, enhancing its renewable energy portfolio[19][25]. - Ongoing landfill remediation projects were initiated in Jiangsu Province, indicating a commitment to environmental sustainability[20][26]. - A new heat supply capacity of 166,400 tonnes per year was signed for the Huai'an Integrated Biomass and Waste-to-energy Project, expanding operational capabilities[40][42]. - The Group secured 12 new projects during the year, including 1 integrated biomass utilization project, 1 hazardous and solid waste treatment project, 2 solar energy projects, and 8 environmental remediation projects, with additional investments totaling approximately RMB 350 million and RMB 244 million for environmental remediation projects[69]. - The Group commenced construction on 16 new projects and completed 14 projects during the year, with 25 projects under construction or implementation as of December 31, 2022[73]. Environmental and Sustainability Initiatives - The company received multiple ESG awards, highlighting its commitment to environmental, social, and governance standards[30][41]. - The company is focusing on high-quality development in line with the ecological civilization goals set by the 20th National Congress of the Communist Party of China[44]. - The company is committed to driving progress in social and economic efficiency while upholding environmental protection and social responsibility[54]. - The Group's commitment to corporate social responsibility includes initiatives like purchasing straws from local farmers to support their income[198]. - The Group's environmental remediation business includes restoration of contaminated sites and treatment of industrial gas emissions, contributing to its comprehensive waste management strategy[130]. Financial Milestones and Investments - The company successfully issued the first tranche of perpetual medium-term notes in 2022, marking a significant financial milestone[29][30]. - The Company issued RMB1.2 billion of green medium-term notes in April 2022, with a coupon rate of 3.27% per annum for the first three years[91]. - The Company completed the issuance of RMB700 million of perpetual medium-term notes in May 2022, with a coupon rate of 3.35% per annum for the first three years[95]. - In 2022, the Group had a total investment of approximately RMB 32.828 billion across 139 environmental protection projects and undertook 50 environmental remediation projects with a total contract amount of approximately RMB 1.409 billion[68]. Market and Economic Outlook - The outlook for 2023 indicates a hopeful recovery for the Chinese economy, supported by the stabilization of domestic demand and the gradual return to normal industrial operations post-pandemic[150]. - The ongoing geopolitical conflicts and complex international relations pose uncertainties for global economic recovery, impacting domestic demand and industrial production in China[152]. - The environmental protection industry is expected to see an expansion in service scope and boundaries, driven by new policies aimed at pollution reduction and carbon emission[153]. Corporate Governance and Management - The Group emphasizes a "People-oriented, Pragmatic, Creative and Systematic" management philosophy to enhance corporate management and operational efficiency[188]. - The Group has implemented comprehensive cost management on projects and promoted a "cost reduction and efficiency enhancement" initiative[189]. - The Group has established a talent management system to optimize internal recommendations and training, aiming to retain core personnel[195]. - The Group has implemented ongoing preventive measures against COVID-19 to safeguard staff health and project operations[198]. Research and Development - As of December 31, 2022, the company held 228 authorized patents, including 32 invention patents and 191 utility model patents[53]. - The Group's strategic focus includes the "Dual Carbon" strategy, aiming to drive new growth through technological innovation and low-carbon technologies[64]. - The Group is exploring the potential of general industrial solid waste electricity and heat cogeneration business, leveraging its technical strengths and one-stop service capabilities[121].

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].