股票代码：002672 股票简称：东江环保 公告编号：2023-51 东江环保股份有限公司 关于 2021 年度第一期中期票据付息及回售部分债券兑付的公告 本公司及其董事会全体成员保证信息披露内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 为保证东江环保股份有限公司 2021 年度第一期中期票据（债券简称：21 东江环保 MTN001，债券代码:102101690）付息及回售部分债券兑付工作的顺利进行，方便投资者及时 领取付息及回售部分债券兑付资金，现将有关事宜公告如下： 一、本期债券基本情况： 1、发行人：东江环保股份有限公司 2、债券名称：东江环保股份有限公司 2021 年度第一期中期票据 3、债券简称：21 东江环保 MTN001 4、债券代码：102101690 5、发行总额：5 亿元 持有人资金汇划路径变更未及时通知银行间市场清算所股份有限公司而不能及时收到资金的， 发行人及银行间市场清算所股份有限公司不承担由此产生的任何损失。 三、本次权利行使相关机构： 1、发行人: 东江环保股份有限公司 联系人: 杨红宇 6、投资者回售债券金额：3 亿元 7、本计息期债券利率：3.79% 8、付息 ...

Financial Performance - The company's revenue for Q1 2023 was ¥828,715,785.69, a decrease of 14.00% compared to ¥963,644,836.52 in the same period last year[4] - The net profit attributable to shareholders was -¥117,659,832.94, representing a decline of 2,345.86% from a profit of ¥5,238,970.33 in the previous year[4] - Basic and diluted earnings per share were both -¥0.13, reflecting a decrease of 1,400.00% from ¥0.01 in the previous year[5] - The company reported a net loss of ¥147,624,923.01 for the current period, compared to a net loss of ¥2,549,041.58 in the previous period, indicating a significant decline in profitability[19] - Operating profit for the current period was ¥-146,257,061.53, a sharp decrease from an operating profit of ¥3,743,003.42 in the previous period[19] - The company recorded a total comprehensive loss of ¥-147,600,820.43 for the current period, compared to a loss of ¥-2,546,506.51 in the previous period[20] Cash Flow - The net cash flow from operating activities was -¥122,860,700.59, a significant decrease of 954.29% compared to -¥11,653,444.20 in the same period last year[4] - The company experienced a net cash outflow from operating activities of ¥122,860,700.59, compared to a smaller outflow of ¥11,653,444.20 in the previous period[21] - The company's cash flow from investing activities was -¥134,966,263.77, a 33.24% decrease compared to -¥202,164,995.48 in the previous year[9] - Investment activities resulted in a net cash outflow of ¥134,966,263.77, compared to a larger outflow of ¥202,164,995.48 in the previous period[22] - Financing activities generated a net cash inflow of ¥416,013,114.89, an increase from ¥318,038,173.31 in the previous period, showing improved financing conditions[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,963,702,897.68, an increase of 2.20% from ¥11,705,964,207.73 at the end of the previous year[5] - Total liabilities increased to RMB 7,334,321,477.23 from RMB 6,929,488,113.74, representing an increase of approximately 5.85%[16] - The company's total assets rose to RMB 11,963,702,897.68 from RMB 11,705,964,207.73, reflecting an increase of about 2.20%[16] Receivables and Inventory - The company reported a 79.20% decrease in notes receivable, primarily due to the maturity of endorsed and discounted notes[9] - The company experienced a 202.47% increase in receivables financing, attributed to an increase in bank acceptance bills received during the reporting period[9] - Accounts receivable decreased to RMB 964,173,070.58 from RMB 1,118,529,140.66, a reduction of about 13.78%[14] - Inventory increased to RMB 757,373,693.26 from RMB 649,715,145.40, showing a growth of approximately 16.56%[15] Expenses - Total operating costs increased to RMB 982,547,309.72 from RMB 973,589,084.57, reflecting a slight increase of about 0.99%[18] - Research and development expenses for the current period were RMB 29,489,532.62, down from RMB 41,901,428.68 in the previous period, indicating a decrease of about 29.66%[18] Profitability Ratios - The company's weighted average return on equity was -2.94%, down from 0.11% in the same period last year, indicating a decline in profitability[5]

Financial Performance - Net profit attributable to shareholders decreased by 2,345.86% from CNY 5,238,970.33 to CNY -117,659,832.94, impacted by a decline in collection volume and increased market competition [11]. - Total operating revenue decreased to RMB 828.72 million from RMB 963.64 million, a decline of approximately 13.95% [19]. - Net profit showed a significant loss of RMB 147.62 million compared to a profit of RMB 2.55 million in the previous period, indicating a substantial decline [20]. - Investment income decreased by 292.01% from CNY 2,275,740.06 to CNY -4,369,664.88, mainly due to a decline in net profits from joint ventures [11]. - The comprehensive income attributable to the parent company was CNY -147,600,820.43, compared to CNY -2,546,506.51 in the previous period [21]. - Basic and diluted earnings per share were both CNY -0.13, a drop of 1,400.00% from the previous year [27]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY -122,860,700.59, a 954.29% decrease compared to CNY -11,653,444.20, reflecting a decline in operational performance [11]. - The net cash flow from operating activities was CNY -122,860,700.59, a significant decrease of 954.29% compared to the previous year [27]. - The cash inflow from operating activities totaled CNY 1,220,968,323.22, an increase from CNY 1,053,352,260.70 in the previous period [22]. - The net cash flow from investing activities was CNY -134,966,263.77, compared to CNY -202,164,995.48 in the previous year [23]. - The net cash flow from financing activities was CNY 416,013,114.89, an increase from CNY 318,038,173.31 in the previous year [23]. Assets and Liabilities - Total current assets increased from CNY 3,026,923,271.51 to CNY 3,307,674,195.63, indicating a growth in liquidity [16]. - Total non-current assets decreased from CNY 4,306,341,813.80 to CNY 4,202,065,657.11, primarily due to depreciation [16]. - Total assets rose to RMB 11.96 billion from RMB 11.71 billion, an increase of approximately 2.1% [18]. - Total liabilities increased to RMB 7.33 billion from RMB 6.93 billion, reflecting a rise of about 5.8% [18]. - The equity attributable to shareholders decreased to RMB 3.94 billion from RMB 4.06 billion, a decline of about 2.8% [18]. Receivables and Payables - Accounts receivable decreased by 79.20% from CNY 16,541,947.42 to CNY 3,439,906.89 due to the maturity of endorsed and discounted notes [5]. - Financing receivables increased by 202.47% from CNY 24,420,525.44 to CNY 73,863,643.39, primarily due to an increase in foreign exchange bills [5]. - Prepayments rose by 87.58% from CNY 149,703,661.79 to CNY 280,818,779.61, attributed to increased advance payments for raw materials [5]. - Contract liabilities increased by 92.22% from CNY 142,285,139.51 to CNY 273,495,985.77, mainly due to advance sales payments received [5]. - The company reported a significant increase in contract liabilities to RMB 273.50 million from RMB 142.29 million, a rise of approximately 92.3% [18]. Governance and Structure - The company has a total of three executive directors and three independent non-executive directors as part of its governance structure [39]. - The board of directors guarantees the authenticity, accuracy, and completeness of the quarterly report, assuming legal responsibility for any misstatements [40]. - The first quarter report has not been audited, indicating a preliminary financial status [38]. - The report does not indicate any significant changes in shareholder structure or major new strategies during the reporting period [41]. - The company has not disclosed any new product developments or technological advancements in the current report [41]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 36,853, with the largest shareholder, Guangdong Guangsheng Holding Group Co., Ltd., holding 22.86% of shares (200,968,294 shares) [29]. - HKSCC Nominees Limited holds 22.76% of shares (200,096,887 shares), making it the second-largest shareholder [29]. - Jiangsu Huihong International Group Co., Ltd. and Jiangsu Huihong Venture Capital Co., Ltd. hold 5.70% (50,087,669 shares) and 2.96% (25,995,038 shares) respectively [29]. Other Financial Metrics - Research and development expenses decreased to RMB 29.49 million from RMB 41.90 million, a reduction of approximately 29.6% [20]. - Long-term borrowings increased to RMB 3.08 billion from RMB 2.58 billion, representing a growth of about 19.5% [18]. - The company's cash and cash equivalents were not explicitly detailed but are critical for assessing liquidity in future operations [18].

Financial Performance - Total revenue for 2022 was RMB 3,878.47 million, a decrease of 3.41% compared to RMB 4,015.23 million in 2021[8]. - Gross profit for 2022 was RMB 610.38 million, with a gross margin of 15.74%, down from 27.48% in 2021, representing a decline of 11.85 percentage points[8][17]. - The company recorded a net loss attributable to equity holders of RMB 501.79 million for 2022, compared to a profit of RMB 160.75 million in 2021[8][17]. - The revenue from industrial waste resource recovery and treatment was approximately RMB 1.308 billion and RMB 1.217 billion, down 16.41% and 28.92% year-on-year, respectively[17]. - The group's consolidated gross profit margin for the year ended December 31, 2022, was 15.74%, a decrease of approximately 11.74 percentage points compared to 27.48% in 2021, primarily due to increased industry competition and rising costs in resource recovery operations[21]. - The net loss attributable to equity holders of the parent company for the year ended December 31, 2022, was approximately RMB 501.79 million, compared to a profit of RMB 160.75 million in 2021, largely due to a decrease in business from major customers and a decline in overall market waste volume[22]. - The financial cost for the year was approximately RMB 176.74 million, accounting for 4.56% of total revenue, an increase from 3.36% in 2021, primarily due to an increase in interest-bearing debt[45]. - The income tax expense for the year was approximately RMB 28.42 million, a decrease from RMB 35.67 million in 2021, mainly due to a decline in pre-tax profit[23]. - Administrative expenses for the year were approximately RMB 439,603,000, accounting for 11.33% of total revenue, up from 10.15% in 2021[71]. - The company recorded a loss for the year ended December 31, 2022, and the board does not recommend paying any final dividend for the year[123]. Assets and Liabilities - Total assets as of December 31, 2022, were RMB 11,705.96 million, while total liabilities were RMB 6,929.49 million[8]. - As of December 31, 2022, the total liabilities of the group were approximately RMB 6,929,486,000, an increase from RMB 6,365,415,000 in 2021, resulting in a debt-to-asset ratio of 59.2% compared to 53.88% in 2021[47]. - The group had current liabilities of approximately RMB 3,458,429,000 as of December 31, 2022, down from RMB 3,805,521,000 in 2021[47]. - As of December 31, 2022, the company's current liabilities exceeded current assets by approximately RMB 431,506,000[167]. - The company had available unused bank financing of approximately RMB 6,465,844,000 as of December 31, 2022[169]. Market and Operational Strategy - The company plans to focus on market expansion and key project development in 2023 to enhance operational performance[14]. - The company aims to enhance its core competitiveness in hazardous waste management and expand its market share through flexible pricing strategies[18]. - The overall hazardous waste market environment remains challenging, with significant reductions in hazardous waste output from customers and excess disposal capacity in some regions[39]. - The company aims to enhance market share and capacity utilization by focusing on hazardous waste management and expanding into high-difficulty waste segments[55]. - The company plans to accelerate the issuance of non-public A-shares to raise sufficient funds for development and expedite key project construction[55]. - The company is focusing on core hazardous waste operations and implementing a diversified market strategy to address intense competition[65]. - The company aims to focus on "dual carbon" growth points while solidifying its core business, anticipating a recovery in industrial production and an increase in hazardous waste volume in 2023[81]. - The company will implement "three precision management" strategies to maintain its leading position in a highly competitive market and improve operational performance[81]. - The environmental protection industry has seen increased competition due to significant capacity expansion and low processing prices, impacting the company's revenue and profit[84]. - The company will focus on internal management reforms and digital transformation to enhance efficiency and product value, thereby expanding its industry influence[84]. Research and Development - The company added 121 new patents in 2022, bringing the total to 602, with one technology recognized as internationally leading[10]. - R&D investment for the year was approximately RMB 169 million, remaining stable compared to the previous year[68]. Financial Management and Policies - The company has recognized credit impairment losses and asset impairment losses, which significantly impacted annual profits[34]. - The company has assessed its assets for impairment, ensuring that any asset's carrying amount is reduced to its recoverable amount if necessary[130]. - The company has not made any adjustments or changes to its profit distribution policy during the reporting period, which stipulates a cumulative cash distribution of no less than 30% of the average distributable profit over the last three years[99]. - The company has cumulatively distributed profits in cash from 2020 to 2022, meeting the requirement of distributing no less than 20% of the distributable profits for the year[121]. - The company confirmed that financial assets are initially recognized at fair value plus transaction costs, with trade receivables measured at their transaction price[184]. - The company applies a simplified approach to calculate expected credit losses for trade receivables and contract assets, establishing a provision matrix based on historical credit loss experience[195]. - The company recognizes any gains or losses from the termination of assets based on the difference between the net proceeds from the sale and the carrying amount of the asset[154]. Joint Ventures and Investments - The group established a joint venture, Jiyang City Guangye Energy Environmental Protection Co., Ltd., in November 2022, holding a 13% stake with an investment of approximately RMB 12,884,000[48]. - The company completed the sale of its 31% stake in Jiangsu Suquan Solid Waste Disposal Co., Ltd. for approximately RMB 40,600,000 in October 2022[75]. - The company entered into a framework agreement with Guangdong Anjiatai Environmental Technology Co., Ltd. on April 7, 2022, for hazardous waste disposal services[127]. Compliance and Risk Management - The company continues to strengthen pollution control facility management and enhance employee compliance awareness to minimize safety and environmental production risks[106]. - The company is closely monitoring interest rate risks and will consider a suitable mix of fixed and floating rate debt to manage these risks[50].

股票代码：002672 股票简称：东江环保 公告编号：2023-23 会议召开方式：网络文字互动方式 二、参加人员 公司董事长谭侃先生，执行董事、总裁余中民先生，独立董事郭素颐女士，副总裁兼财 务负责人宋卫斌先生，董事会秘书李泽华先生。 东江环保股份有限公司 关于举办 2022 年度业绩说明会的公告 本公司及其董事会全体成员保证信息披露内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 东江环保股份有限公司（以下简称"公司"）2022 年度报告及摘要已经公司第七届董事会 第二十九次会议、第七届监事会第十五次会议审议通过，2022 年度报告、摘要以及其他相关 文件已于 2023 年 3 月 31 日在巨潮资讯网（www.cninfo.com.cn）披露，2022 年度报告摘要刊 登于同日的《证券时报》。 为便于广大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司定于 2023 年 4 月 21 日（星期五）15:00-17:00 在"价值在线"（www.ir-online.cn）举办东江环保股份有 限公司 2022 年度业绩说明会，与投资者进行沟通和交流，具体情况如下： 一、召开时间、地点和 ...

Group 1: Company Overview and Operations - Dongjiang Environmental Co., Ltd. held an investor communication event on April 4, 2023, combining onsite and online participation [2][3] - The company has a total qualification capacity exceeding 2.7 million tons, with approximately 2 million tons remaining [5] - The current utilization rate of the company's qualifications is around 40% [5] Group 2: Industry Trends and Regulatory Environment - The hazardous waste industry is under strict national regulation, covering processing, transportation, and disposal [3] - The industry has experienced rapid development since 2017, with many new projects starting construction and production post-2020 [3] - The hazardous waste collection volume decreased by 16% in 2022 due to upstream production cuts, leading to intensified price competition [4] Group 3: Financial Performance and Projections - The company's gross profit margin has declined to 11%, attributed to price drops and reduced waste collection volumes [4] - As of March 2023, waste production has begun to recover, with expectations for further increases in the second and third quarters [4][7] - The company aims to lower variable costs and expenses through process optimization and technology upgrades [6] Group 4: Strategic Direction and Growth Opportunities - The company plans to strengthen its core industrial hazardous waste business while expanding into metal recycling, particularly precious metals [6] - There is a focus on developing a "zero landfill" approach, with a shift towards resource recovery from waste [4] - The company is exploring new growth areas in urban ecological environment services and pollution control [6]

Company Overview - The company's legal representative is Tan Kan [20] - The company's registered and office address is located at Dongjiang Environmental Building, Langshan Road, Nanshan District, Shenzhen, with a postal code of 518057 [20] - The company's website is www.dongjiang.com.cn and the email address is ir@dongjiang.com.cn [20] - The company's stock is listed on the Shenzhen Stock Exchange with the stock codes SZ002672 and HK00895 [20] - The company's foreign name is Dongjiang Environmental Company Limited, abbreviated as Dongjiang Env [20] - The company's Chinese name is Dongjiang Environmental Co., Ltd., abbreviated as Dongjiang Environmental [20] - The company's report period is from January 1, 2022, to December 31, 2022 [18] Financial Performance - Revenue for 2022 decreased by 3.41% to 3,878,473,960.06 yuan compared to 2021 [25] - Net profit attributable to shareholders in 2022 was -501,792,630.21 yuan, a decrease of 412.17% from 2021 [25] - Operating cash flow decreased by 27.48% to 283,536,530.66 yuan in 2022 [25] - Total assets at the end of 2022 were 11,705,964,207.73 yuan, a slight decrease of 0.91% from 2021 [25] - Equity attributable to shareholders decreased by 11.92% to 4,055,873,748.97 yuan at the end of 2022 [25] - The company's weighted average ROE was -11.59% in 2022, a significant drop from 3.50% in 2021 [25] - Revenue in Q4 2022 was 1,030,140,306.70 yuan, the highest among all quarters [30] - Net loss in Q4 2022 was -411,545,598.35 yuan, the largest quarterly loss [30] - Government subsidies received in 2022 amounted to 43,797,911.36 yuan [32] - The company's total operating revenue in 2022 was RMB 3.878 billion, a year-on-year decrease of 3.41%, with a net loss attributable to the parent company of approximately RMB -502 million and a non-GAAP net loss of approximately RMB -547 million [50] - Revenue from rare and precious metal recycling increased by 342.54% to 879.01 million yuan in 2022 [55] - Revenue from industrial waste resource utilization decreased by 16.41% to 1.308 billion yuan in 2022 [55] - Revenue from industrial waste treatment and disposal decreased by 28.92% to 1.217 billion yuan in 2022 [55] - Sales volume of rare and precious metal products increased by 463.04% to 20,768.96 units in 2022 [58] - Sales volume of copper salt products decreased by 19.69% to 48,236.32 units in 2022 [58] - The company's revenue from regions outside Guangdong increased by 3.89% to 2.561 billion yuan in 2022 [56] - Revenue from overseas regions decreased by 39.21% to 46.74 million yuan in 2022 [56] - Municipal waste treatment revenue decreased by 0.14% to RMB 166.92 million, accounting for 5.11% of total revenue [61] - Renewable energy utilization revenue decreased by 4.30% to RMB 42.89 million, with a significant drop in raw material costs by 33.63% [61] - Environmental engineering and services revenue decreased by 10.95% to RMB 80.31 million, with raw material costs dropping by 27.74% [61] - E-waste dismantling revenue increased by 17.12% to RMB 153.17 million, with raw material costs rising by 15.75% [61] - Top 5 customers accounted for 21.58% of total sales, with the top customer contributing 11.23% of total sales [63][64] - Top 5 suppliers accounted for 15.31% of total procurement, with the top supplier contributing 4.21% [64][65] - Financial expenses increased by 36.51% to RMB 164.53 million due to higher interest-bearing liabilities [66] - R&D expenses remained stable at RMB 162.83 million, with a slight decrease of 0.28% [66] - Operating cash flow decreased by 27.48% year-on-year to RMB 283.54 million, mainly due to declining operating performance and increased working capital at Xiongfeng Environmental [70] - Investment cash flow outflow decreased by 55.6% year-on-year to RMB 599.89 million, primarily due to reduced construction project investments and equity investments [71] - Financing cash flow inflow decreased by 54.7% year-on-year to RMB 366.81 million, mainly due to higher financing amounts in the previous year for construction projects and equity investments [71] - Cash and cash equivalents increased by 172.97% year-on-year to RMB 96.43 million, reversing a negative trend from the previous year [70] - Monetary funds increased by 0.66% of total assets to RMB 622.72 million, accounting for 5.32% of total assets [73] - Long-term loans increased by 12.08% of total assets to RMB 2.58 billion, accounting for 22.01% of total assets [73] - Short-term loans decreased by 8.29% of total assets to RMB 956.74 million, accounting for 8.17% of total assets [73] - Investment amount decreased by 55.60% year-on-year to RMB 599.89 million [78] Industry and Market Risks - The company faces risks such as industry competition and safety production, detailed in the "Management Discussion and Analysis" section of the report [5] - The hazardous waste treatment industry faces challenges such as reduced waste generation and intensified competition [36] - The company's hazardous waste collection and transportation volume decreased by approximately 16.65% year-on-year in 2022, with resource utilization and harmless disposal business revenues of RMB 1.308 billion and RMB 1.217 billion, down by 16.41% and 28.92% respectively [50] - The company's hazardous waste business gross margin decreased by 11.84 percentage points year-on-year due to an average price drop of over 15% for incineration and annual contract customers, and a more than 5% increase in the collection rate for metal-containing waste liquids in multiple provinces [50] - The company faces intensified industry competition, with increased hazardous waste treatment capacity and low processing prices impacting revenue and profits [92] Corporate Governance - The company's board of directors, board of supervisors, and senior management guarantee the authenticity, accuracy, and completeness of the annual report [5] - The company held 5 shareholder meetings in 2022, including the 2022 First Extraordinary General Meeting, the 2022 Second Extraordinary General Meeting, the 2021 Annual General Meeting, the 2022 Third Extraordinary General Meeting, the 2022 First A-share Class Meeting, the 2022 First H-share Class Meeting, and the 2022 Fourth Extraordinary General Meeting [100] - The company's Board of Directors consists of 9 members, including 3 independent directors, accounting for one-third of the total board members. In 2022, the Board held 12 meetings and convened 5 shareholder meetings [102] - The company's Supervisory Board comprises 3 members, including 2 non-employee representatives and 1 employee representative. In 2022, the Supervisory Board held 6 meetings [104] - The company has established a fair and transparent performance evaluation and incentive mechanism for senior management, with a compensation system that includes a base salary and year-end performance evaluation [106] - The company continuously improves its institutional construction, including the formulation of the "Board of Directors Authorization Management System" and "President Work Rules," as well as the revision of the "Comprehensive Budget Management Regulations" and "Bidding and Procurement Management Measures" [109] - The company's governance structure is complete, sound, and clear, with standardized operations, strong independence, and compliant information disclosure, meeting the requirements of relevant regulatory documents issued by the China Securities Regulatory Commission [99] - The company strictly regulates the behavior of its controlling shareholder, ensuring complete separation in business, personnel, assets, organization, and finance, with independent and autonomous operational capabilities [101] - The company actively communicates with investors through various channels, including in-person visits, online interactions, earnings conference calls, investor hotlines, and email, and has established an investor relations section on its website [105] - The company respects and safeguards the legitimate rights and interests of stakeholders, actively cooperates with them, participates in social welfare activities, and maintains a good corporate image [108] - The company maintains complete independence in business, personnel, assets, organization, and finance from its controlling shareholder, ensuring no interference in operations [112][113][114][115][116][117] - The company operates independently in industrial waste treatment, with a complete industrial chain and no reliance on the controlling shareholder for business operations [112] - All senior management and core technical personnel are exclusively employed by the company, with no positions held in the controlling shareholder's other entities [114] - The company owns all assets related to its main business, including land, factories, machinery, and intellectual property, with no mortgages or pledges [115] - The company has established an independent financial system and bank accounts, ensuring no shared accounts or mixed tax payments with the controlling shareholder [117] - The 2022 annual general meeting had a 32.52% investor participation rate, held on June 29, 2022 [119] - The 2022 third extraordinary general meeting had the highest investor participation rate at 38.67%, held on July 12, 2022 [119] - The company held a total of four extraordinary general meetings in 2022, with participation rates ranging from 24.16% to 38.67% [119] - The company's board of directors elected Yu Zhongmin as a director on January 6, 2022 [122] - The company's board of directors elected Yu Fan as a supervisor on January 6, 2022 [122] - Huang Haiping, the supervisor, resigned on January 6, 2022 [122] - Wang Guowei was appointed as the executive vice president on April 26, 2022 [122] - Tan Kan, the current chairman, has a background in environmental engineering and previously held positions in the Shenzhen Municipal Government [123] - Yu Zhongmin, the current president, has a background in engineering and previously served as vice president of Shenzhen Zhongjin Lingnan Nonferrous Metals Co., Ltd [123] - Lin Peifeng, the current executive director, joined Guangdong Rising Holdings Group in 2018 and has a background in electronic and information technology [123] - Tang Yi, the current non-executive director, has a background in finance and previously held positions in Guangdong Rising Holdings Group [124] - Shan Xiaomin, the current director, holds a Ph.D. and has extensive experience in government and corporate leadership roles [125] - Li Jinhui, born in September 1965, is a tenured professor and doctoral supervisor at Tsinghua University's School of Environment, and the chief scientist of the Circular Economy and Urban Mining Innovation Team [127] - Xiao Zhixiong, born in March 1971, holds a Bachelor's degree in Business Administration from the Chinese University of Hong Kong and is a non-practicing member of the Hong Kong Institute of Certified Public Accountants [128] - Guo Suyi, born in September 1978, is a senior partner at Guangdong Jinlun Law Firm and serves as an independent director at Dongjiang Environmental Co., Ltd [129] - Yu Fan, born in February 1979, holds a Master's degree in Business Administration from Shanghai University of Finance and Economics and is the Chairman of the Supervisory Board at Dongjiang Environmental Co., Ltd [130] - Wang Guowei, born in December 1985, is the Executive Vice President and Party Committee Member at Dongjiang Environmental Co., Ltd [131] - Li Zehua, born in October 1985, holds a Master's degree from Tsinghua University Law School and serves as the Board Secretary and General Legal Counsel at Dongjiang Environmental Co., Ltd [133] - Shan Xiaomin serves as the Vice President and Party Committee Member at Jiangsu Suhui International Group Co., Ltd since March 28, 2019 [134] - Jin Yongfu is the General Manager of the Investment Management Department at Jiangsu Suhui International Group Co., Ltd since April 1, 2018 [134] - Tang Yi has been a full-time director at Guangdong Guangsheng Holdings Group Co., Ltd since August 18, 2020 [134] - Jiang Ping has been the Director of the Discipline Inspection and Supervision Office at Guangdong Guangsheng Holdings Group Co., Ltd since January 1, 2022 [134] - Total remuneration for directors, supervisors, and senior management in 2022 amounted to 6.5623 million yuan [142] - The highest remuneration among directors was 824,900 yuan for Lin Peifeng [142] - The highest remuneration among senior management was 889,600 yuan for Li Zehua, the Board Secretary and General Counsel [142] - Independent directors received a total remuneration of 120,000 yuan each [142] - The company held 12 board meetings in 2022, with resolutions disclosed on the Cninfo website [143][144] - All directors attended the required number of board meetings, with no absences reported [145] - No directors raised objections to company matters during the reporting period [147] - The Audit Committee held 6 meetings in 2022, focusing on financial reports and internal control assessments [149] - Directors actively participated in decision-making, contributing to the protection of company and shareholder interests [148] - The Audit Committee strictly followed regulatory requirements and provided professional opinions on financial matters [149] - The company's audit committee reviewed and approved the 2022 Q1 report and the audit work plan for the next steps [150] - The company's audit committee approved the re-appointment of the accounting firm for 2022 [150] - The company's audit committee reviewed and approved the 2022 semi-annual report [150] - The company's audit committee reviewed and approved the 2022 Q3 report [150] - The company's nomination committee reviewed and confirmed the qualifications of directors and senior management [151] - The company's nomination committee approved the appointment of a new executive vice president [151] - The company's strategic development committee reviewed and approved the "14th Five-Year Plan" development strategy [151] - The company's audit committee reviewed and approved the 2021 performance evaluation and compensation for senior management [150] - The company's audit committee reviewed and approved the internal audit director appointment [150] - The company's audit committee reviewed and approved the 2022 audit department work plan [150] Environmental and Safety Measures - The company strictly adheres to environmental protection laws and regulations, including the "Environmental Protection Law," "Air Pollution Prevention and Control Law," and "Water Pollution Prevention and Control Law" [171] - All subsidiaries of the company strictly implement the pollutant discharge permit system and timely pay environmental taxes without arrears in 2022 [172] - The company's subsidiaries, such as Kunshan Qianlamp Sanfei Purification Co., Ltd., comply with emission standards, with COD emissions at 0.99 tons/year and ammonia nitrogen emissions at 0.01 tons/year [174] - Jiangsu Dongjiang Environmental Services Co., Ltd. reported COD emissions of 0.96 tons/year and ammonia nitrogen emissions of 0.14 tons/year, adhering to the "Hazardous Waste Landfill Pollution Control Standards" [174] - Jiangsu Dongjiang Environmental Services Co., Ltd. also reported SO2 emissions of 0.59 tons/year and NOx emissions of 4.15 tons/year, complying with the "Hazardous Waste Incineration Pollution Control Standards" [174] - Shaoxing Zhongxin Environmental Technology Co., Ltd. reported SO2 emissions of 2.13 tons/year and NOx emissions of 50.99 tons/year, meeting the "Hazardous Waste Incineration Pollution Control Standards" [174] - Yancheng Coastal Solid Waste Disposal Co., Ltd. reported SO2 emissions of 0.20 tons/year and NOx emissions of 3.13 tons/year, adhering to the "Hazardous Waste Incineration Pollution Control Standards" [174] - Fujian Green Island Solid Waste Co., Ltd. reported SO2 emissions of 5.48 tons/year and NOx emissions of 26.83 tons/year, complying with the "Hazardous Waste Incineration Pollution Control Standards" [174] - Longyan Green Oasis Environmental Technology Co., Ltd. reported SO2 emissions of 1.26 mg/m³ and NOx emissions of 3.98 mg/m³, with corresponding costs of 7.16 yuan and 16.33 yuan respectively [176] - Xiamen Dongjiang Environmental Technology Co., Ltd. recorded SO2 emissions of 2.12 mg/m³ and NOx emissions of 11.73 mg/m³, with costs of 19.28 yuan and 78.48 yuan respectively [176] - Dongguan Hengjian Environmental Technology Co., Ltd. reported COD emissions of 2.67 mg/L and ammonia nitrogen emissions of 0.14 mg/L, with costs of 2.67 yuan and 0.14 yuan respectively [176] - Hunan Dongjiang Environmental Investment Development Co., Ltd. recorded COD emissions of 0.832 mg/L and ammonia nitrogen emissions of 0.321 mg/L, with no total control standard [176] - Hengshui Ruitao Environmental Technology Co., Ltd. reported SO2 emissions of 1.43 mg/m³ and NOx emissions of 9.91 mg/m³, with costs of 42.9 yuan and 91.96 yuan respectively [176] - Shenzhen Baoan Dongjiang Environmental Technology Co., Ltd. recorded COD emissions of 1.693 mg/L and ammonia nitrogen emissions of 0.012 mg/L, with costs of 5.24 yuan and 0.26 yuan respectively [176] - Hubei Tianyin Hazardous Waste Centralized Disposal Co., Ltd. reported COD emissions of 0.851 mg/L and ammonia nitrogen emissions of 0.012 mg/L, with costs of 3.29 yuan and 0.53 yuan respectively [176] - Hubei Tianyin Hazardous Waste Centralized Disposal Co., Ltd. recorded SO2 emissions of 0.813 mg/m³ and NOx emissions of 8.359 mg/m³, with costs of 31.81 yuan and 93.85 yuan respectively [176] - Dongguan Humen Green Source Water Service Co., Ltd. reported COD emissions of 1460 mg/L and ammonia nitrogen emissions of 292 mg/L, with costs of 146

Financial Performance - For the year ended December 31, 2022, the total revenue was RMB 3,878,474 thousand, a decrease from RMB 4,015,230 thousand in 2021, representing a decline of approximately 3.4%[12] - The gross profit for 2022 was RMB 610,382 thousand, down from RMB 1,103,577 thousand in 2021, indicating a significant decrease of about 44.7%[12] - The net loss for the year was RMB 568,694 thousand, compared to a profit of RMB 155,842 thousand in 2021, marking a turnaround of approximately 463.5%[12] - The company reported a basic and diluted loss per share of RMB (57) for 2022, compared to earnings of RMB 18 per share in 2021[12] - The total equity attributable to the owners of the company decreased to RMB 4,055,874 thousand in 2022 from RMB 4,604,919 thousand in 2021, a decline of approximately 11.9%[7] - The company reported a net loss of RMB 501,792,000 for the year, compared to a profit of RMB 160,745,000 in 2021, reflecting a significant downturn[155] - The company’s comprehensive gross margin for the year ended December 31, 2022, was 15.74%, a decrease of approximately 11.74 percentage points compared to 27.48% in 2021, primarily due to increased industry competition and rising costs in resource-based operations[196] Assets and Liabilities - The company's total assets as of December 31, 2022, were RMB 8,679,039 thousand, slightly down from RMB 8,835,880 thousand in 2021, a decrease of about 1.8%[13] - Non-current liabilities increased to RMB 3,471,057 thousand in 2022 from RMB 2,559,894 thousand in 2021, reflecting an increase of approximately 35.6%[7] - As of December 31, 2022, the group's current liabilities exceeded current assets by approximately RMB 431,506,000[33] - The company's total liabilities increased to approximately RMB 6,929.49 million in 2022, up from RMB 6,365.42 million in 2021, resulting in a debt-to-asset ratio of 59.2%[86] - The financial position remains stable, with net current liabilities of approximately RMB 431.5 million as of December 31, 2022[185] Cash Flow and Financing - The company’s cash and cash equivalents at the end of 2022 were RMB 622,716 thousand, up from RMB 550,421 thousand in 2021, representing an increase of about 13.1%[13] - The group had cash and fixed deposits of approximately RMB 617,856,000, excluding restricted funds and pledged deposits, as of December 31, 2022[33] - The group has unutilized bank financing of approximately RMB 6,465,844,000 available as of December 31, 2022[33] - The company plans to raise up to RMB 1,200,000,000 through a non-public issuance of up to 263,780,130 new A-shares, pending approval from the China Securities Regulatory Commission[42] - The company has received approval from the China Securities Regulatory Commission for the proposed private placement of A-shares[129] - The company has a credit agreement with Guangsheng Finance, providing a credit limit of up to RMB 200 million for one year[138] Revenue Segments - The industrial waste treatment segment generated revenue of 1,388,261 million, up from 1,125,211 million, indicating a growth of about 23.4%[45] - The segment for municipal waste treatment reported a revenue of 158,447 million, a decrease from 166,917 million, reflecting a decline of approximately 5.5%[45] - Revenue from industrial waste resource recovery decreased to RMB 1,308.26 million in 2022, down 16.4% from RMB 1,565.16 million in 2021[1] - Precious metal recovery revenue surged to RMB 879.01 million in 2022, a significant increase of 341.5% from RMB 198.63 million in 2021[1] - The revenue from external customers in the recycling segment was 1,565,155 million, an increase from 1,246,900 million, representing a growth of about 25.5%[45] Operational Strategies and Future Outlook - The company plans to continue expanding its waste treatment services and invest in new technologies to enhance operational efficiency in the upcoming year[17] - The company plans to expand its market presence through new product development and strategic partnerships, focusing on industrial waste recycling and renewable energy utilization[45] - The company plans to focus on core hazardous waste operations and implement diversified market strategies to address intense competition[178] - The company is committed to enhancing its hazardous waste disposal capabilities and ensuring revenue and profit breakthroughs through technological upgrades[96] - The company anticipates that its production and operational performance in 2023 will not be adversely affected by significant changes in objective factors such as transportation and raw material costs[119] Cost Management - Total employee costs increased to RMB 761,078,000 in 2022 from RMB 682,233,000 in 2021, representing an increase of approximately 11.5%[153] - Sales costs rose significantly to RMB 2,099,263,000 in 2022, up from RMB 1,633,000,000 in 2021, marking an increase of about 28.5%[153] - The company is actively reducing costs through measures such as optimizing processes and energy consumption[179] - The financing cost rate for the year was 3.68%, a decrease of 22 basis points compared to the previous year[82] Research and Development - The company’s annual R&D investment, including increased development costs for intangible assets, was approximately RMB 169 million, remaining stable compared to the previous year[195] - Research and development expenses remained stable at RMB 162,828,000 in 2022 compared to RMB 163,283,000 in 2021, indicating a slight decrease of 0.3%[153] - The company has successfully launched its alkali carbonate copper industrialization project and added new high-end resource-based copper salt products, with a total of 602 authorized patents, including 121 new patents granted during the reporting period[195] Market Conditions and Competition - The total operating revenue for the year was approximately RMB 3.88 billion, a decline of 3.41% compared to RMB 4.02 billion in 2021, primarily due to reduced waste generation from upstream clients and intensified market competition[173] - The total hazardous waste collection volume decreased by approximately 16.65% year-on-year, with industrial waste resource recovery and treatment revenues at approximately RMB 1.31 billion and RMB 1.22 billion, down about 16.41% and 28.92% respectively compared to the previous year[171] - The average collection price for incineration waste dropped by over 15%, leading to a decrease in gross profit margin for hazardous waste business by 11.85 percentage points year-on-year[171] Governance and Compliance - The company’s board of directors believes that the ultimate controlling party is the State-owned Assets Supervision and Administration Commission of the Guangdong Provincial People's Government[9] - The group has adopted new/revised international financial reporting standards, including IAS 16, IAS 37, and IFRS 3, with no significant impact on consolidated financial statements[24][25][29] - The company has no significant contingent liabilities as of December 31, 2022[133]

Group 1: Company Overview - The main business of Dongjiang Environmental Protection focuses on the resource utilization and harmless treatment of industrial and municipal waste, with an expansion into the dismantling and recycling of electronic waste [2] - The company has established a comprehensive environmental service platform with a business network covering the Pearl River Delta, Yangtze River Delta, and central and western regions of China [2] - In the past two years, the company has increased its efforts in harmless treatment business, promoting a combination of internal growth and external expansion [2] Group 2: Financial Performance - In 2014, the gross profit margins for various businesses were approximately: - Industrial waste harmless treatment: 58% - Industrial waste resource utilization: 30% - Municipal waste treatment: 16% - Renewable energy and CDM business: 28% - Electronic waste dismantling: 16% - Environmental engineering and services: 25% [3] - The non-public issuance of A-shares in 2015 raised approximately 2.3 billion, primarily for projects in Jiangxi solid waste center, ShaJing treatment base renovation, Huizhou Dongjiang technology upgrade, working capital replenishment, and bank loan repayment [3] Group 3: Market and Industry Insights - The industrial solid waste treatment industry has significant future development potential, with the construction of treatment facilities not meeting demand and favorable policies emerging [4] - The time required for obtaining environmental assessments for industrial waste projects typically ranges from 1 to 3 years due to their special nature [4] - Government regulations on environmental protection have tightened, with criminal liability for illegal disposal of hazardous waste exceeding 3 tons established by judicial interpretations in 2013 [4]