Core Viewpoint - 博奇环保 (02377) reported a revenue of RMB 1.058 billion for the first half of 2025, reflecting a year-on-year increase of 11.5% [1] Financial Performance - Revenue for the period was RMB 1.058 billion, up 11.5% year-on-year [1] - Gross profit reached RMB 243 million, representing a 22.1% increase compared to the previous year [1] - Profit attributable to shareholders was approximately RMB 143 million, showing a year-on-year growth of 25.55% [1] - Earnings per share stood at RMB 0.17 [1] Business Drivers - Revenue growth was primarily driven by certain existing EPC projects entering a concentrated construction phase during the reporting period [1] - Market expansion contributed to the increase, with several business segments executing more projects and expanding the scope of certain contracts [1]

Group 1 - The core viewpoint of the article is that 博奇环保 (Bohui Environmental) reported a significant increase in revenue, gross profit, and net profit for the six months ending June 30, 2025, compared to the same period last year [1] Group 2 - For the six months ending June 30, 2025, the company's revenue was RMB 1,058 million, an increase of 11.5% from RMB 949 million in the same period last year [1] - The gross profit for the same period was RMB 243 million, reflecting a 22.1% increase from RMB 199 million year-on-year [1] - The gross profit margin improved to 23.0%, up by 2.0 percentage points compared to the previous year [1] - The net profit for the six months was RMB 145 million, which is a 25.0% increase from RMB 116 million in the same period last year, with a net profit margin of 13.7%, up by 1.5 percentage points [1]

Core Viewpoint - Boqi Environmental (02377) reported a revenue of RMB 1.058 billion for the first half of 2025, reflecting a year-on-year increase of 11.5% [1] Financial Performance - Gross profit reached RMB 243 million, representing a year-on-year increase of 22.1% [1] - Profit attributable to shareholders was approximately RMB 143 million, up 25.55% year-on-year [1] - Earnings per share stood at RMB 0.17 [1] Revenue Drivers - Revenue growth was primarily driven by the concentration of construction activities for certain existing EPC projects during the reporting period [1] - Market expansion contributed to the increase, with a rise in the number of executed projects and the scope of certain project contracts during the reporting period [1]

[Financial and Operational Summary](index=1&type=section&id=Financial%20and%20Operational%20Summary) The Group achieved robust financial growth in the first half of 2025, with double-digit increases in revenue, gross profit, and net profit, alongside improved gross and net profit margins, demonstrating strong operational efficiency and profitability Overview of Financial Performance in H1 2025 | Metric | H1 2025 (RMB million) | H1 2024 (RMB million) | Y-o-Y Growth (%) | Change (percentage points) | | :--- | :--- | :--- | :--- | :--- | | Revenue | 1,058 | 949 | 11.5% | - | | Gross Profit | 243 | 199 | 22.1% | - | | Gross Margin | 23.0% | 21.0% | - | +2.0 | | Net Profit | 145 | 116 | 25.0% | - | | Net Margin | 13.7% | 12.2% | - | +1.5 | [Condensed Consolidated Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section provides the unaudited condensed consolidated financial statements for H1 2025, outlining the Group's financial performance, position, equity, and cash flows [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group's revenue increased by 11.5% to RMB1,058 million, gross profit grew by 22.1% to RMB243 million, and profit for the period rose by 25.0% to RMB145 million, with basic and diluted earnings per share both at RMB0.17, an increase from the prior year period Key Data from Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Metric | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Revenue | 1,058,485 | 949,415 | | Cost of Sales and Services | (815,446) | (750,145) | | Gross Profit | 243,039 | 199,270 | | Other Income and Gains | 21,250 | 11,874 | | Other Expenses and Losses | (8,547) | (1,359) | | Selling and Distribution Expenses | (9,184) | (10,039) | | Administrative Expenses | (47,612) | (48,409) | | Research and Development Expenses | (28,302) | (23,595) | | Net Impairment Loss on Financial and Contract Assets | (8,113) | 2,922 | | Share of Profit of Associates | 3,337 | 5,647 | | Finance Costs | (7,424) | (7,944) | | Profit Before Tax | 158,444 | 128,367 | | Income Tax Expense | (13,657) | (12,470) | | Profit for the Period | 144,787 | 115,897 | | Profit Attributable to Owners of the Company | 142,709 | 113,665 | | Basic Earnings Per Share (RMB) | 0.17 | 0.11 | | Diluted Earnings Per Share (RMB) | 0.17 | 0.11 | [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total non-current assets increased to RMB2,630 million, driven by a significant rise in long-term receivables, while total current assets decreased due to a reduction in cash and cash equivalents, and both current and non-current liabilities decreased, leading to a slight decline in net current assets and net assets Key Data from Condensed Consolidated Statement of Financial Position | Metric | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Total Non-current Assets | 2,630,889 | 2,450,814 | | Total Current Assets | 2,460,540 | 2,956,943 | | Total Current Liabilities | 1,600,247 | 1,805,190 | | Total Non-current Liabilities | 271,267 | 318,126 | | Net Current Assets | 860,293 | 1,151,753 | | Net Assets | 3,219,915 | 3,284,441 | | Equity Attributable to Owners of the Company | 3,185,570 | 3,252,174 | | Cash and Cash Equivalents | 322,474 | 629,018 | | Long-term Receivables | 396,768 | 163,697 | [Condensed Consolidated Statement of Changes in Equity](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, total equity attributable to owners of the Company decreased from RMB3,252 million at the beginning of the year to RMB3,185 million, primarily due to increased profit for the period, transfer to statutory surplus reserve, and dividend distribution, while share capital and share premium reserve decreased due to ordinary share repurchases and cancellations Key Data from Condensed Consolidated Statement of Changes in Equity | Metric | June 30, 2025 (RMB thousand) | January 1, 2024 (RMB thousand) | | :--- | :--- | :--- | | Total Equity Attributable to Owners of the Company | 3,185,570 | 3,047,471 | | Profit for the Period | 142,709 | 113,665 | | Transfer to Statutory Surplus Reserve | 25,951 | 9,336 | | Dividends Recognized as Distribution | (35,837) | - | | Repurchase of Ordinary Shares | (173,363) | - | | Cancellation of Treasury Shares | (11) | - | | Share-based Payments | (102) | 402 | [Condensed Consolidated Statement of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, the Group's operating cash flow shifted from net inflow to net outflow, investment cash outflow significantly decreased, and financing cash flow changed from net inflow to net outflow, mainly due to share repurchases and loan repayments, resulting in a substantial decrease in cash and cash equivalents at period-end Key Data from Condensed Consolidated Statement of Cash Flows | Metric | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Net Cash (Used in) / From Operating Activities | (47,981) | 33,337 | | Net Cash Used in Investing Activities | (25,531) | (126,713) | | Net Cash (Used in) / From Financing Activities | (232,087) | 90,518 | | Net Decrease in Cash and Cash Equivalents | (305,599) | (2,858) | | Cash and Cash Equivalents at End of Period | 322,474 | 346,029 | [Notes to the Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section details the basis of preparation, significant accounting policies, segment revenue and results, other income and expenses, taxation, dividends, earnings per share, asset and liability breakdowns, share capital changes, share option schemes, and related party transactions, providing supplementary information for understanding the Group's financial position [Basis of Preparation](index=8&type=section&id=Basis%20of%20Preparation) The condensed consolidated financial statements are prepared in accordance with IAS 34 Interim Financial Reporting and the applicable disclosure requirements of Appendix D2 to the Listing Rules of The Stock Exchange of Hong Kong Limited - The condensed consolidated financial statements are prepared in accordance with IAS 34 Interim Financial Reporting and Appendix D2 of the HKEX Listing Rules[11](index=11&type=chunk) [Significant Accounting Policies](index=8&type=section&id=Significant%20Accounting%20Policies) The condensed consolidated financial statements are prepared on a historical cost basis, applying new and revised IFRSs issued by the IASB, which have not had a significant impact on the Group's interim and prior year financial statement disclosures - Financial statements are prepared on a historical cost basis, with certain properties and financial instruments measured at revalued or fair value[12](index=12&type=chunk) - New and revised IFRSs, including IAS 21 (Amendment) Lack of Exchangeability, were applied this year but had no significant impact on financial statement disclosures[12](index=12&type=chunk) - The Group has not yet applied new and revised IFRSs, such as IFRS 18 Presentation and Disclosure in Financial Statements, which have been issued but are not yet effective[13](index=13&type=chunk) [Revenue and Segment Information](index=9&type=section&id=Revenue%20and%20Segment%20Information) The Group's revenue primarily derives from four business segments: flue gas treatment, water treatment, hazardous and solid waste treatment, and dual carbon new energy+. In H1 2025, total revenue was RMB1,058 million, with flue gas treatment contributing the most, and significant growth in EPC and O&M revenue, while water treatment and dual carbon new energy+ revenue decreased. The Group operates almost exclusively in

Core Viewpoint - The 23rd anniversary celebration of Boqi Environmental Protection highlights the company's growth alongside China's evolving environmental policies, marking its transformation from a startup to a leading player in the ecological environment governance sector [1]. Group 1: Company Development Stages - Boqi Environmental Protection was founded in 2002, focusing on flue gas desulfurization for coal-fired power plants, establishing a strong foundation in the environmental sector [2]. - The company ranked third in the national capacity for flue gas desulfurization in 2006 and achieved the highest operational performance for 600MW units that year [2]. - After going public in Japan in 2007, Boqi expanded its market reach internationally and diversified its business model to include operation maintenance and concession management [2]. - By 2018, Boqi listed on the Hong Kong Stock Exchange, entering a new phase of development that aligned with China's dual carbon goals, expanding its services to include comprehensive environmental solutions [4]. Group 2: Market Position and Achievements - According to Frost & Sullivan, Boqi ranked first among independent companies in China's coal-fired power plant desulfurization market in 2016, with a capacity of 66.5 GW, capturing 62.3% of the market share [3]. - The company successfully implemented advanced technologies in its projects, such as the integrated low-temperature SCR denitrification technology, achieving ultra-low emissions in its first steel operation project [4]. - Boqi's wastewater treatment project achieved near-zero discharge, marking a significant milestone in its environmental service capabilities [4]. Group 3: Strategic Initiatives and Future Outlook - In the 3.0 era, Boqi has engaged in strategic acquisitions and established a presence in hazardous waste treatment and resource recycling, contributing to its comprehensive service offerings [5]. - The implementation of new pollution control guidelines for waste photovoltaic components and wind turbine blades signifies Boqi's commitment to sustainable practices and regulatory compliance [5]. - The company is positioned to play a significant role in the renewable energy and resource recycling sectors, contributing to China's high-quality development in the environmental industry [6].

Group 1 - The company,博奇环保 (02377.HK), announced that its board meeting will be held on August 22, 2025, to consider and approve the consolidated interim results for the six months ending June 30, 2025 [1] - The meeting will also discuss the potential declaration of an interim dividend, if applicable [1]

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的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 China Boqi Environmental (Holding) Co., Ltd. 董事會會議日期 中國博奇環保（控股）有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公 佈，董事會會議將於2025年8月22日（星期五）舉行，藉以（其中包括）考慮及批准 本公司及其附屬公司截至2025年6月30日止六個月之合併中期業績及其發佈，並 考慮派發中期股息（如有）。 承董事會命 中國博奇環保（控股）有限公司 主席、執行董事兼行政總裁 曾之俊 中國北京，2025年8月12日 於本公告日期，執行董事為曾之俊先生、劉根鈺先生及錢曉寧女士；非執行董事 為鄭拓先生、朱偉航先生及陳學先生；及獨立非執行董事為謝國忠博士、李濤先 生、俞偉峰教授及張帆女士。 中 國 博 奇 環 保（ 控 股 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2377） ...

（股份代號：2377） 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的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 China Boqi Environmental (Holding) Co., Ltd. 中 國 博 奇 環 保（ 控 股 ）有 限 公 司 （於開曼群島註冊成立的有限公司） 承董事會命 中國博奇環保（控股）有限公司 主席、執行董事兼行政總裁 曾之俊 中國北京，2025年8月8日 於本公告日期，本公司執行董事為曾之俊先生、劉根鈺先生及錢曉寧女士；本公 司非執行董事為鄭拓先生、朱偉航先生及陳學先生；及本公司獨立非執行董事為 謝國忠博士、李濤先生、俞偉峰教授及張帆女士。 延遲寄發通函 茲提述中國博奇環保（控股）有限公司（「本公司」）日期為2025年6月26日之公告 （「該公告」），內容關於(I)有關7-8號陽西設施工程總承包合同的持續關連交易； (II)有關(A) 1-2號陽西設施運營服務；(B) 3-4號陽西設施運維經營；(C) 5-6號陽 西設施維護服務協議；及(D) 1-6號陽 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國博奇環保(控股)有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02377 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | 本月底法定/ ...

Core Points - Beijing Boqi Electric Technology Co., Ltd. received an administrative penalty of 50,000 yuan for failing to properly document safety education and training for its employees involved in construction activities at the Zhongmei Liu'an Power Plant [1][2] - The penalty was issued by the East China Energy Regulatory Bureau, citing violations of the Production Safety Law of the People's Republic of China [1][2] Company Overview - Beijing Boqi Electric Technology Co., Ltd. was established in June 2002 with a registered capital of 550 million yuan [2] - It is a wholly-owned subsidiary of China Boqi Environmental Protection (Holdings) Limited, which is listed on the Hong Kong Stock Exchange [2] - As of the end of 2024, the company had total assets of 5.408 billion yuan and over 2,400 employees as of the first quarter of 2025 [2] - The company provides environmental governance and dual-carbon new energy services to industrial enterprises and cities, maintaining good relationships with major power generation groups and other large industrial companies across China and internationally [2]