格隆汇8月1日丨天洁环境(01527.HK)宣布，董事会谨订于2025年8月29日(星期五)假座中华人民共和国 浙江省诸暨市环城东路251号的天洁大厦第6层会议室举行董事会会议，以商讨(其中包括)(i)审议并通过 刊发公司及其附属公司截至2025年6月30日止六个月的未经审核综合中期业绩；(ii)审议宣派及派付中期 股息(如有)；及(iii)处理任何其他事项。 ...

浙江天潔環境科技股份有限公司 Zhejiang Tengy Environmental Technology Co., Ltd 承董事會命 浙江天潔環境科技股份有限公司 主席兼非執行董事 祝賢波先生 （於中華人民共和國成立之股份有限公司） （股份代號：1527） 董事會會議通告 浙江天潔環境科技股份有限公司（「本公司」）之董事（「董事」）會（「董事會」） 宣佈，董事會謹訂於二零二五年八月二十九日（星期五）假座中華人民共和國 浙江省諸暨市環城東路251號的天潔大廈第6層會議室舉行董事會會議，以商 討（其中包括）(i)審議並通過刊發本公司及其附屬公司截至二零二五年六月 三十日止六個月之未經審核綜合中期業績；(ii)審議宣派及派付中期股息（如 有）；及(iii)處理任何其他事項。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告 全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。浙江天潔環境科技股份有限公司。 中國浙江省諸暨市，二零二五年八月一日 於本公告日期，執行董事為邊宇先生、邊姝女士及章袁遠先生；非執行 ...

Key Points - As of July 15, a total of 146 stocks reached their 52-week highs, with Tianjie Environment (01527), Debao Group Holdings (08436), and Ding Shi Capital (00804) leading the high rate at 42.08%, 27.45%, and 26.23% respectively [1] - The highest closing prices among the top performers include Tianjie Environment at 2.190, Debao Group Holdings at 0.275, and Ding Shi Capital at 0.235 [1] - Other notable stocks that reached new highs include Zhong'an Holdings Group (08462) with a high rate of 24.55% and China Chengtong Development Group (00217) at 21.69% [1] - The report also highlights a list of stocks that reached their 52-week lows, with Shengtong Technology (02495) showing a decline of 9.72% [4] - The overall market sentiment appears to be positive with a significant number of stocks achieving new highs, indicating potential investment opportunities in these companies [1][4]

Company Overview - Zhejiang Tianjie Environmental Technology Co., Ltd. was established in 2009 and is located in Zhuji City, Zhejiang Province, specializing in the design, manufacturing, installation, and service of environmental protection products [4] - The company is recognized as a key enterprise in the environmental protection industry in Zhejiang Province and has received multiple awards for its contributions to environmental pollution prevention equipment manufacturing [4] - Tianjie Environmental has developed a range of advanced technologies and products, including low-temperature electrostatic precipitators and SCR denitrification systems, which are highly regarded in the industry [4] Financial Performance - As of December 31, 2024, Tianjie Environmental reported total revenue of 745 million yuan, representing a year-on-year growth of 20.13% [2] - The company's net profit attributable to shareholders reached 84.637 million yuan, showing a significant increase of 98.18% compared to the previous year [2] - The gross profit margin stood at 29.29%, with a debt-to-asset ratio of 53.31% [2] Stock Performance - Tianjie Environmental's stock price closed at 2.19 HKD per share on July 15, with a notable increase of 36.88% and a trading volume of 2.927 million shares [1] - Over the past month, the stock has seen a cumulative increase of 18.52%, and since the beginning of the year, it has risen by 64.95%, outperforming the Hang Seng Index by 20.65% [2] Valuation Metrics - Currently, there are no institutional investment ratings for Tianjie Environmental [3] - The company's price-to-earnings (P/E) ratio is 2.36, significantly lower than the average P/E ratio of 16.82 for the industrial engineering sector [3] - Tianjie Environmental ranks fourth in P/E ratio among its peers, indicating a potentially undervalued position in the market [3]

Financial Performance - The Group's operating income increased by approximately 20.1% to approximately RMB744.9 million for the year ended December 31, 2024[12]. - Profit before tax rose by approximately 76.7% to approximately RMB107.9 million compared to the previous year[12]. - Profit attributable to shareholders increased by approximately 98.2% to approximately RMB84.6 million[12]. - Revenue for the year ended December 31, 2024, reached RMB 744,942,000, representing a 20.1% increase from RMB 620,134,000 in 2023[25]. - Total comprehensive income for the year was RMB 84,637,000, a significant increase of 98.2% from RMB 42,707,000 in 2023[25]. - Earnings per share attributable to ordinary equity holders rose to 0.63, up 96.9% from 0.32 in the previous year[25]. - Gross profit increased to approximately RMB218.2 million, a rise of approximately 54.9% compared to RMB140.8 million from the corresponding period last year, with a gross margin of approximately 29.3%[58]. - The value of new contracts for the year was approximately RMB1,549.6 million, with a backlog of approximately RMB2,962.1 million as of December 31, 2024[59]. Revenue Sources - Approximately 99% of the Group's revenue came from the sales of environmental protection equipment, amounting to approximately RMB737.1 million[13]. - Revenue from sales of environmental protection equipment accounted for approximately 99% of total revenue, with sales amounting to approximately RMB737.1 million[70]. - Revenue from sales of electrostatic precipitators increased by approximately RMB196.9 million, while revenue from bag filter precipitators increased by approximately RMB29.8 million; however, revenue from SO2 and NOx emission reduction devices decreased by approximately RMB64.0 million[73][74]. Market Trends and Opportunities - The environmental protection equipment market is projected to grow at an annual rate of over 10% in the Asia-Pacific region[39]. - The increasing demand for precipitators is expected due to stringent environmental protection inspections requiring upgrades of non-compliant equipment[18]. - The demand for super-large dust collectors is rising globally due to policy requirements and environmental pressures, particularly in high-pollution industries like steel, cement, and chemicals[54]. - The Belt and Road Initiative has significantly increased the demand for Chinese super-large dust collectors in markets across Asia, Africa, and the Middle East[55]. - By 2025, non-fossil energy consumption in China is expected to reach approximately 20%, with energy savings projected to be around 50 million tons of standard coal, reducing carbon dioxide emissions by approximately 130 million tons[46]. Research and Development - The Group plans to enhance its research and development capabilities and actively seek acquisition projects to expand its market presence[19]. - The Group's R&D center in Hangzhou employs over 10 professional engineers, focusing on environmental engineering and related fields[28]. - The Group plans to invest more resources in the research and development of energy-efficient environmental protection devices to meet market demands for green technologies[115]. - The Group aims to expand its range of environmental protection equipment, including dust collectors and flue gas desulfurization devices, to enhance market competitiveness[115]. Corporate Governance and Management - The company has been expanding its governance structure with a diverse board of directors, including independent non-executive directors[152]. - The company emphasizes the importance of corporate governance and oversight through its supervisory board[141]. - The management team has extensive experience in various sectors, including finance, technology, and operations, enhancing the company's strategic capabilities[145][150]. - The company has established service contracts with all directors, ensuring compliance with statutory requirements[169]. Environmental Commitment - The Group is committed to seizing market opportunities and contributing to environmental protection efforts[21]. - The Group's cost management efforts have improved product competitiveness, focusing on reducing energy consumption and environmental impact in line with international standards[62]. - The Group believes that the application prospects for super-large dust collectors will broaden as global demand for environmental protection technologies increases[118].

Financial Performance - Zhejiang Tengy Environmental Technology Co., Ltd. reported revenue of approximately RMB 744.9 million for the year ending December 31, 2024, representing a year-on-year increase of about 20.1%[2] - The profit attributable to the owners of the company for the same period was approximately RMB 84.6 million, an increase of approximately 98.2% compared to the previous year[2] - The company's operating profit for the year was RMB 126.7 million, up from RMB 81.8 million in the previous year, indicating a significant improvement in operational efficiency[3] - Basic and diluted earnings per share increased to RMB 0.63 from RMB 0.32, reflecting strong profit growth[3] - The group's revenue for the year 2024 reached RMB 744,942,000, an increase of 20% compared to RMB 620,134,000 in 2023[13] - The group reported a net profit attributable to ordinary equity holders of RMB 84,637,000 for 2024, compared to RMB 42,707,000 in 2023, representing a 98% increase[27] - Gross profit rose by approximately 54.9% to about RMB 218.2 million, with a gross margin increase of about 22.7% to approximately 29.3%[54] - The pre-tax profit increased to approximately RMB 107.9 million, representing a year-on-year increase of about 76.7%, while profit attributable to the company's owners rose by about 98.2% to approximately RMB 84.6 million[55] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 1,769.9 million, compared to RMB 1,513.3 million in the previous year, showing a growth in asset base[4] - The company's cash and cash equivalents increased to RMB 660.1 million from RMB 453.1 million, indicating improved liquidity[4] - Current liabilities rose to RMB 1,090.2 million from RMB 926.7 million, reflecting increased operational activities[5] - Trade receivables (net of provisions) rose to RMB 544,232,000 in 2024, up from RMB 504,872,000 in 2023, reflecting a 7.8% increase[30] - The provision for trade receivables increased to RMB 156,049,000 in 2024 from RMB 143,043,000 in 2023, marking an 9.1% rise[30] - Cash and cash equivalents increased significantly to RMB 659,758,000 in 2024 from RMB 453,020,000 in 2023, a growth of 45.7%[35] - Trade payables remained stable at RMB 184,900,000 in 2024 compared to RMB 185,131,000 in 2023, showing a slight decrease of 0.1%[36] Revenue Sources - Revenue from environmental equipment sales was RMB 737,143,000, up 21% from RMB 607,348,000 in the previous year[17] - Revenue from major customers included RMB 115,487,000 from Customer A, RMB 112,372,000 from Customer B, and RMB 111,292,000 from Customer C in 2024[15] - Revenue from new installations increased to RMB 735.3 million, representing 99% of total revenue, compared to RMB 580.0 million (96%) in the previous year[61] - Sales of electrostatic precipitators accounted for approximately 86% of the total revenue from environmental equipment sales, with revenue from this segment increasing by about RMB 196.9 million year-on-year[60] Operational Focus and Strategy - The company continues to engage in the design, development, manufacturing, installation, and sales of environmental pollution control equipment and electronic products, positioning itself for future growth[8] - The company focuses on the design, manufacturing, installation, and service of environmental protection products, particularly large dust collectors, which are crucial for controlling particulate emissions in various industries[45] - The company plans to expand its range of environmental protection equipment and actively seek acquisition opportunities in diversified environmental reduction industries and new materials[81] - The company aims to strengthen its market position and promote diversified development to increase its domestic and international market share[82] Market Trends and Regulatory Environment - The demand for large dust collectors is expected to grow, driven by stricter pollution regulations and an increase in manufacturing activity, with a projected global manufacturing growth rate of 3.5% in 2024[48] - The company is positioned to benefit from China's dual carbon goals, aiming for peak carbon emissions by 2030 and carbon neutrality by 2060, which will drive upgrades in industrial environmental technologies[50] - The 2024 policy focus includes the green transformation of the manufacturing sector, emphasizing the application of advanced environmental protection technologies and equipment[50] - The State Council's action plan anticipates that by 2025, non-fossil energy consumption will reach approximately 20%, with significant energy savings and CO2 emission reductions expected in key industries[50] Corporate Governance and Shareholder Information - The company has a strong shareholder base, with the largest shareholder holding approximately 30% of the issued share capital, ensuring stability in governance[8] - As of December 31, 2024, the total number of domestic shares held by directors and senior executives amounts to 50,000,000, representing approximately 50.00% of the total issued domestic shares[87] - The company has adopted the Corporate Governance Code to ensure high standards of corporate governance and protect shareholder interests[93] - There have been no significant events affecting the company or its subsidiaries since the end of the financial year[95] Research and Development - The company holds 61 registered patents in China, including 5 invention patents and 56 utility model patents, enhancing its competitive edge in air pollution control solutions[56] - The company has strengthened cost management to enhance the competitiveness of its products and solutions, focusing on improving production processes and quality management systems[56] Financial Management - The group incurred financing costs of RMB 8,962,000 in 2024, a decrease of 9% from RMB 9,892,000 in 2023[22] - The income tax expense for the year was RMB 23,256,000, up from RMB 18,344,000 in 2023, reflecting an increase in taxable income[24] - Administrative expenses surged by approximately 61.5% to RMB 86.2 million, primarily due to increased asset impairment losses and R&D expenditures[66]

Financial Performance - Zhejiang Tengy Environmental Technology Co., Ltd reported revenue of approximately RMB 356.74 million for the six months ended June 30, 2024, representing an increase of approximately 23.57% compared to the same period last year[1]. - The profit attributable to the owners of the parent company for the reporting period was approximately RMB 14.78 million, an increase of approximately 115.11% year-on-year[1]. - The gross profit for the reporting period was RMB 90.62 million, compared to RMB 61.81 million in the previous year, indicating a significant improvement in profitability[2]. - The company experienced an increase in operating profit to RMB 40.41 million, up from RMB 23.17 million in the previous year, showcasing operational efficiency[2]. - The basic and diluted earnings per share for the reporting period were RMB 0.11, compared to RMB 0.05 in the previous year[2]. - The company's revenue for the reporting period was approximately RMB 356.74 million, with a profit of about RMB 14.78 million, reflecting a significant increase in gross profit by approximately 46.60% to about RMB 90.62 million compared to the same period in 2023[28]. - The profit attributable to the owners of the parent company increased by approximately 115.11% to about RMB 14.78 million, with a weighted average earnings per share of approximately RMB 0.11[32]. Revenue Sources - Sales of environmental protection equipment amounted to RMB 350.71 million, up from RMB 284.47 million in the same period last year, reflecting strong demand in the domestic market[8]. - Revenue from mainland China increased to RMB 356,742,000 in 2024 from RMB 284,869,000 in 2023, reflecting a growth of about 25.2%[11]. - The main revenue sources were from electrostatic precipitators, contributing approximately 77.70%, and products for reducing SO2 and NOx emissions, contributing about 8.50%[22]. - Revenue from environmental equipment products accounted for approximately 98.31% of total revenue, with most contracts related to the manufacturing, installation, and sales of electrostatic precipitators[29]. Assets and Liabilities - The total assets as of June 30, 2024, were RMB 1,835.83 million, compared to RMB 1,813.23 million as of December 31, 2023[3]. - The net current assets increased to RMB 613.15 million from RMB 586.62 million, indicating improved liquidity[3]. - Trade receivables (net of provisions) amounted to RMB 571,442,000 as of June 30, 2024, compared to RMB 559,998,000 at the end of 2023, showing a slight increase of approximately 2.0%[15]. - The total bank loans secured amounted to RMB 89,502,000 as of June 30, 2024, remaining unchanged from the previous year[17]. - The capital debt ratio as of June 30, 2024, was approximately 10.11%, slightly down from approximately 10.29% as of December 31, 2023[34]. Research and Development - The company plans to invest more time and resources in R&D and production of energy-efficient environmental equipment to meet market demand for green technology[38]. - The company aims to actively seek suitable acquisition projects to expand into various environmental reduction industries, new materials, and new energy sectors[38]. Market and Industry Outlook - The environmental equipment manufacturing industry in China is projected to grow from RMB 960 billion in 2022 to RMB 1.3 trillion by 2025[26]. - The company aims to leverage opportunities from the "14th Five-Year Plan" and the "20th National Congress Report" to expand its domestic market share[27]. - The company anticipates continued government support for energy conservation and environmental governance, which will enhance its strategic position in the industry[27]. Company Operations - The company continues to focus on the design, development, manufacturing, installation, and sales of environmental pollution control equipment and electronic products[4]. - The total non-current assets are all located in mainland China, indicating a focused operational strategy[11]. - The company employs 508 full-time employees as of June 30, 2024, an increase from 422 employees at the end of 2023[28]. - The company is one of the few manufacturers capable of providing electrostatic precipitators for single generating units of 1,000 MW or more[28]. - As of June 30, 2024, the company held 57 registered patents in China, including 3 invention patents and 54 utility model patents[28]. Dividends - The company did not recommend the payment of any dividends for the reporting period[1]. - The company did not recommend any interim dividend for the six months ended June 30, 2024, and 2023[19]. Legal Matters - The company has no significant legal proceedings or contingent liabilities as of June 30, 2024[36].

Financial Performance - The Group's operating income for the year ended 31 December 2023 increased by approximately 31.3% to approximately RMB 620.1 million[11]. - Profit before tax decreased by approximately 19.4% to approximately RMB 61.1 million compared to the previous year[11]. - Profit attributable to shareholders was approximately RMB 42.7 million, representing a decrease of approximately 20.3% year-on-year[11]. - Revenue for the year ended December 31, 2023, was RMB 620,134,000, representing a 31.3% increase from RMB 472,471,000 in 2022[25]. - Profit before tax decreased by 19.4% to RMB 61,051,000 in 2023 from RMB 75,770,000 in 2022[25]. - The Group's gross profit for the year amounted to approximately RMB 140.8 million, representing a significant increase of approximately 108.8% compared to RMB 67.4 million in the previous year, with a gross margin of 22.7%[86]. - Other income and gains decreased significantly by approximately 82.6% to approximately RMB 21.0 million from approximately RMB 120.8 million in the previous year, primarily due to no land disposals during the year[87]. Revenue Sources - Approximately 100% of the Group's revenue came from environmental protection equipment sales (approximately 98%) and materials sales (approximately 2%), totaling approximately RMB 607.348 million and RMB 12.781 million respectively[12]. - The Group's revenue from environmental protection equipment sales accounted for approximately 98% of total revenue, highlighting its focus on this segment[12]. - Revenue from sales of environmental protection equipment accounted for approximately 98% of total revenue, with major sales related to electrostatic precipitators[72]. - The revenue derived from sales of electrostatic precipitators increased by approximately RMB 109.7 million, while revenue from SO2 and NOx emission reduction devices increased by approximately RMB 84.1 million[77]. Market and Industry Outlook - The demand for precipitators is expected to rise due to increasingly stringent environmental protection inspections requiring upgrades and modifications[18]. - The National Development and Reform Commission's 2024 Guidance Catalogue encourages technologies that promote green and low-carbon transformation, benefiting the environmental protection industry[41]. - The output value of China's environmental protection equipment manufacturing industry increased by 2% year-on-year in 2022, reaching RMB960 billion, and is expected to rise to RMB1.3 trillion by 2025[42][44]. - The comprehensive policies and regulations in China's environmental protection industry are becoming increasingly improved, supporting the strategic direction of carbon reduction and green transformation[46][49]. - The Group anticipates that the Chinese government will actively promote energy conservation and environmental governance, providing more policies and financial support for ecological protection[53]. Research and Development - The Group aims to enhance its research and development capabilities and actively seek acquisition projects to expand its manufacturing and sales capabilities[19]. - The Group's R&D center in Hangzhou employs over 10 professional engineers, focusing on environmental engineering and related fields[29]. - The Group plans to invest more resources in the R&D and production of energy-efficient environmental protection equipment to meet market demand for green technology[125]. - The Group is committed to improving production processes and management systems, achieving multiple ISO certifications for its quality and environmental management systems[63]. Management and Governance - The Board of Directors consists of nine members, including three executive Directors, three non-executive Directors, and three independent non-executive Directors[136]. - The Company has a strong management team with diverse backgrounds in finance, operations, and environmental technology, enhancing its strategic capabilities[161]. - The management team is well-qualified, with several members holding advanced degrees and professional certifications in their respective fields[176]. - The board of directors includes independent members with extensive experience in finance and corporate governance, ensuring compliance and strategic guidance[170]. Strategic Initiatives - The Group is committed to seizing market opportunities and aims to become a leading player in the atmospheric pollution control solution industry[20]. - The Group aims to expand its domestic market share by leveraging its design and manufacturing experience, advanced technology, and strong R&D team[54][57]. - The Group intends to actively seek acquisition projects in various environmental protection and emission reduction industries, as well as new materials and new energy fields[131]. - The Company focuses on the provision of atmospheric pollution control solutions, with Mr. Bian responsible for overall strategies and business development[138]. Financial Position - Total assets increased by 17% to RMB 1,796,856,000 in 2023 from RMB 1,535,726,000 in 2022[25]. - Total liabilities rose by 32.1% to RMB 926,678,000 in 2023 compared to RMB 701,505,000 in 2022[25]. - The current ratio decreased to 1.6 in 2023 from 1.9 in 2022, indicating a decline in short-term financial health[25]. - Cash and cash equivalents increased by approximately RMB 212.1 million to approximately RMB 453.1 million compared to RMB 241.0 million in the previous year[101]. - The Group's net current assets decreased by approximately 8.0% from approximately RMB 637.9 million to approximately RMB 586.6 million[105]. Employee and Operational Changes - The Group maintained a total of 422 full-time employees as of December 31, 2023, down from 446 in 2022[66]. - Selling and distribution expenses increased by approximately RMB 6.3 million to approximately RMB 22.1 million, mainly due to salaries and travel expenses[88]. - Administrative expenses decreased by approximately 15.7% to approximately RMB 53.3 million compared to RMB 63.3 million in the previous year[93]. Acquisitions and Investments - The Company increased its equity interest in Zhejiang Tianjie Magnetic Materials Co., Ltd. from 40% to 45% through an acquisition for a consideration of RMB 6,421,165[108]. - The group acquired land use rights for approximately RMB 47 million and property, plant, and equipment for approximately RMB 40.6 million during the year[110]. - The group acquired an associate's interest for approximately RMB 6.5 million and investment properties for an additional cost of approximately RMB 6.0 million during the year[121]. Dividend Policy - The board does not recommend the payment of a final dividend for the year, compared to RMB 0.05 per share in 2022[124].

Financial Performance - Zhejiang Tengy Environmental Technology Co., Ltd reported revenue of approximately RMB 620.1 million for the year ended December 31, 2023, representing an increase of about 31.3% compared to the previous year[3]. - The profit attributable to the owners of the company for the same period was approximately RMB 42.7 million, a decrease of about 20.3% year-on-year[3]. - Gross profit for the year was RMB 140.8 million, compared to RMB 67.4 million in the previous year, indicating a significant improvement in profitability[4]. - Operating profit decreased to RMB 81.8 million from RMB 105.3 million year-on-year[4]. - The company reported a net profit attributable to ordinary equity holders of RMB 42,707,000 for 2023, down 20.4% from RMB 53,605,000 in 2022[36]. - The company's pre-tax profit decreased to approximately RMB 61.1 million, a decline of about 19.4% year-on-year, while profit attributable to owners decreased by about 20.3% to approximately RMB 42.7 million[72]. - Other income and gains significantly decreased by approximately 82.6% to about RMB 21.0 million, down from approximately RMB 120.8 million in the previous year, primarily due to the absence of property sales[84]. Revenue Sources - Revenue from environmental equipment sales was RMB 607,348,000, up 37.2% from RMB 442,739,000 in the previous year[24]. - Revenue from mainland China accounted for RMB 607,159,000, representing a significant increase of 28.8% compared to RMB 471,341,000 in 2022[19]. - Revenue from the sale of environmental protection equipment accounted for approximately 98% of total revenue, with significant contributions from electrostatic precipitators and desulfurization and denitrification devices[76]. - The company's revenue primarily comes from the sale of environmental equipment, materials, and services, with a focus on customized air pollution control solutions[60]. Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 1,513.3 million, compared to RMB 1,339.4 million in the previous year[5]. - Current liabilities increased to RMB 926.7 million from RMB 701.5 million year-on-year, reflecting a rise in operational costs[7]. - The company’s total equity rose to RMB 870.2 million from RMB 834.2 million, showing a solid financial position[7]. - Cash and cash equivalents increased significantly to RMB 453.1 million from RMB 241.0 million, indicating improved liquidity[5]. - Trade receivables (net of provisions) decreased from RMB 604,108,000 in 2022 to RMB 504,872,000 in 2023, a decline of about 16.4%[41]. - Trade payables increased slightly from RMB 183,498,000 in 2022 to RMB 185,131,000 in 2023, an increase of approximately 0.9%[49]. - The net value of current assets decreased by about 8.0% to approximately RMB 586.6 million from approximately RMB 637.9 million in the previous year[95]. Research and Development - The company has established a comprehensive R&D system, employing over 10 professional engineers in its Hangzhou R&D center, focusing on environmental engineering, civil engineering, and electromechanical engineering[60]. - The company aims to invest more resources in R&D and production of energy-efficient environmental protection equipment to meet market demand for green technology[107]. - The company is recognized as a Shaoxing municipal-level R&D and technology center, enhancing its competitive edge in the industry[60]. Market Position and Strategy - The company plans to continue focusing on the design, development, and manufacturing of environmental protection equipment and electronic products, aiming for market expansion[12]. - The company aims to actively seek suitable acquisition projects in various environmental reduction industries, new materials, and new energy sectors[107]. - The company believes its established customer base in China and years of overseas market experience will support future expansion in domestic and international markets[109]. - The environmental industry in China is experiencing rapid growth, supported by government policies aimed at carbon reduction and ecological civilization construction[66]. - The company is positioned to benefit from the "14th Five-Year Plan" which emphasizes energy conservation and emission reduction projects, aligning with its expertise[67]. Operational Efficiency - The company is focused on improving production processes and management systems to enhance operational efficiency and reduce energy consumption[72]. - Sales and distribution expenses increased from approximately RMB 15.8 million in the previous year to approximately RMB 22.1 million, an increase of about RMB 6.3 million[85]. - Administrative expenses decreased by approximately 15.7% from about RMB 63.3 million in the previous year to approximately RMB 53.3 million, mainly due to a reduction in trade receivables impairment losses and depreciation expenses[87]. - Financing costs rose by approximately 29.0% from about RMB 7.7 million in the previous year to approximately RMB 9.9 million[88]. Corporate Governance - The audited financial statements for the year were approved by the board on March 28, 2024[110]. - There were no changes in accounting policies or methods during the year[111]. - No significant accounting errors were corrected during the year[112]. - The scope of consolidation for the financial statements remained unchanged[113]. - The audit committee reviewed the accounting principles and confirmed the audited consolidated financial statements for the year[124]. - No significant events affecting the company occurred after the end of the financial year[125].

Financial Performance - The revenue for Zhejiang Tengy Environmental Technology Co., Ltd for the six months ended 30 June 2023 was approximately RMB 288.71 million, representing a decrease of approximately 7.59% compared to the same period last year [2]. - The profit attributable to owners of the parent for the Reporting Period was approximately RMB 6.87 million, a decrease of approximately 23.84% year-on-year [2]. - The gross profit for the Reporting Period was RMB 61.81 million, down from RMB 67.36 million in the previous year, indicating a decline of approximately 8.67% [3]. - Revenue from external customers decreased to RMB 288,706,000 in 2023 from RMB 312,428,000 in 2022, a decline of approximately 7.6% [36]. - The basic earnings per share for the Reporting Period was RMB 0.05, down from RMB 0.07 in the previous year [3]. - The unaudited profit attributable to the owners of the parent was approximately RMB 6.87 million, a decrease of approximately 23.84% from approximately RMB 9.02 million in the corresponding period of 2022 [149]. - The cost of sales for the Group was approximately RMB 226.89 million, a decrease of approximately 7.42% from approximately RMB 245.07 million in the corresponding period of 2022 [147]. - The unaudited gross profit margin for the Reporting Period was approximately 21.41%, down from approximately 21.56% in the same period of 2022 [148]. Expenses and Income - Other income increased to RMB 5.90 million from RMB 3.40 million, reflecting an increase of approximately 73.83% [3]. - Distribution and selling expenses rose to RMB 7.27 million, up from RMB 3.90 million, marking an increase of approximately 86.41% [3]. - Net cash generated from operating activities decreased to RMB 23,715,000 in 2023 from RMB 67,606,000 in 2022, representing a decline of approximately 65.0% [8]. - The Group's income tax expense for the period was RMB 5,250,000, down from RMB 9,460,000 in 2022, a decrease of approximately 44% [42]. - Interest on bank loans increased to RMB 3,779,000 in 2023 from RMB 2,829,000 in 2022, representing an increase of about 33.5% [39]. Assets and Liabilities - The total assets less current liabilities as of 30 June 2023 were RMB 841.09 million, compared to RMB 834.22 million at the end of 2022, showing a slight increase of approximately 0.10% [5]. - The net current assets as of 30 June 2023 were RMB 650.21 million, an increase from RMB 637.92 million at the end of 2022, representing a growth of approximately 1.99% [5]. - The Group's trade receivables as of June 30, 2023, were RMB 731,314,000, slightly down from RMB 740,524,000 as of December 31, 2022, a decrease of approximately 1.4% [55]. - The impairment provision for trade receivables increased to RMB 154,884,000 in 2023 from RMB 139,408,000 in 2022, reflecting a rise of about 11.1% [55]. - Trade payables as of June 30, 2023, were RMB 160,857,000, down 12.3% from RMB 183,498,000 as of December 31, 2022 [67]. - The total bank loans increased to RMB 85,000,000 as of June 30, 2023, compared to RMB 55,000,000 as of December 31, 2022 [73]. Market and Sales - Revenue from sales of environmental protection equipment was RMB 284,470,000 in 2023, down from RMB 306,237,000 in 2022, indicating a decrease of about 7.1% [24]. - The geographical market of Mainland China accounted for RMB 280,633,000 in sales in 2023, down from RMB 305,389,000 in 2022, a decrease of about 8.1% [27]. - The major product, electrostatic precipitators, generated sales of RMB 225,235,000 in 2023, down from RMB 256,820,000 in 2022, a decrease of about 12.3% [27]. - Revenue from the sale of materials decreased to RMB 4,236,000 in 2023 from RMB 5,988,000 in 2022, reflecting a decline of approximately 29.3% [24]. - Revenue from environmental protection equipment products accounted for approximately 98.53% of total revenue [141]. Research and Development - Research and development expenditure rose to RMB 6,766,000 in 2023, up from RMB 3,530,000 in 2022, indicating an increase of approximately 92% [46]. - The Group plans to enhance its R&D capabilities and expand its portfolio of environmental protection equipment to address atmospheric pollution and achieve carbon neutrality [174]. Strategic Initiatives - The Company conditionally agreed to acquire 95% equity interest in Zhejiang Tianjie New Energy Co., Ltd. from Tengy Group Limited for RMB 51.2 million, subject to downward adjustment [173]. - The Company successfully acquired land use rights for approximately 52,571.90 sq. m. at a total consideration of approximately RMB 47 million, intended for the development of a plant for environmental pollution prevention equipment [92]. - The Group aims to actively seek acquisition projects in various environmental protection and emission reduction industries, as well as new materials and new energy fields [175]. - The Group intends to leverage opportunities from the 14th Five-Year Work Plan in China to consolidate its existing business and promote diversification, thereby expanding its market share [176]. Corporate Governance - The board consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors [185]. - The board's responsibilities include determining the business and investment plans of the Group and formulating annual budgets [185]. Future Outlook - Future outlook indicates a projected revenue growth of 30% for the next fiscal year, driven by new product launches and market expansion strategies [200]. - The company plans to enter two new international markets by the end of 2024, aiming to increase global market share [200]. - A strategic acquisition of a local competitor is expected to be finalized in Q1 2024, which will enhance operational capabilities [200]. - New product lines are anticipated to contribute an additional 10% to overall revenue in the upcoming year [200]. - The company has set a target to reduce operational costs by 15% through efficiency improvements in the next 12 months [200].