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]

Group 1: Company Strategy and Market Expansion - The company plans to focus on the Guangdong province for future market expansion, particularly in harmless disposal, due to significant market potential and existing project developments in cities like Zhuhai and Zhaoqing [2][3] - In the Yangtze River Delta region, the company aims to acquire more projects through acquisitions, having already established bases in coastal solid waste management and other locations [2][3] - The company has a strategic focus on building a comprehensive waste disposal service chain, promoting harmless disposal, and fostering mutual development within the industry [3] Group 2: Project Details and Financial Outlook - The hazardous waste disposal center project in Jiangxi province has a processing capacity of 81,000 tons per year, with a 25-year exclusive operating license, expected to be completed and operational by 2016-2017 [2][3] - The company holds 46 out of 49 categories of hazardous waste disposal qualifications, allowing it to provide comprehensive waste management services to nearly 10,000 clients in Guangdong province [3] - The company's industrial hazardous waste disposal operations are somewhat influenced by market fluctuations, but its risk resilience is gradually improving, indicating a lower long-term impact from market factors [3]

编号：2015-08 证券代码：002672 证券简称：东江环保 东江环保股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------|--------------------------|------------------------------------------------------| | | | | | 投资者关系活 | √ | 特定对象调研 □分析师会议 | | 动类别 | | □媒体采访 □业绩说明会 | | | □ | 新闻发布会 □路演活动 | | | □现场参观 其他 | | | 参与单位名称 | 汇添富基金 | | | 及人员姓名 | | | | 时间 | 2015 年 9 月 18 | 日 上午 09:30-11:30 | | 地点 | 深圳市南山区东江环保大楼 | 11 楼 | | 上市公司接待 | 公司总裁 陈曙生先生 | | | 人员姓名 | | 公司副总裁及董事会秘书 王恬女士 | | 投资者关系活 | 主 要交流内容如下： | | | 动主要内容介 绍 | 管理层信心 | | | | | 公司管理层对未来发展的信心是坚定 ...

编号：2015-02 证券代码：002672 证券简称：东江环保 东江环保股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------|------------------------|------------------------------------------------------------------| | | | | | 投资者关系活 | √ | 特定对象调研 □分析师会议 | | 动类别 | | □媒体采访 □业绩说明会 | | | □ | 新闻发布会 □路演活动 | | | □现场参观 其他 | | | 参与单位名称 | | 国投瑞银、东莞证券、方正证券、国海证券、毅木资产、浩方资 | | 及人员姓名 | 管等投资者一行 | | | 时间 | 2015 年 7 月 8 | 日 下午 15:00-16:00 | | 地点 | 东江环保十一楼 | | | 上市公司接待 人员姓名 | | 公司副总裁及董事会秘书 王恬女士 | | 投资者关系活 | 主要交流内容如下： | | | 动主要内容介 | 1 | 、公司的珠海永兴盛项目情况？ ...

编号：2015-09 证券代码：002672 证券简称：东江环保 东江环保股份有限公司投资者关系活动记录表 | --- | --- | --- | |--------------|-------------------------|--------------------------------------------------------------| | | | | | 投资者关系活 | √ | 特定对象调研 □分析师会议 | | 动类别 | | □媒体采访 □业绩说明会 | | | □ | 新闻发布会 □路演活动 | | | □现场参观 其他 | | | 参与单位名称 | | 嘉实基金、南方基金、华商基金、富国基金、鹏华基金、民生加 | | 及人员姓名 | 机构 | 银基金、中信证券、安信证券、兴业证券、国泰君安等近 50 家 | | 时间 | 2015 年 9 月 24 | 日 下午 13:00-15:30 | | 地点 | | 江门市鹤山市鹤城镇东坑村江门市东江环保技术有限公司 | | 上市公司接待 | 公司总裁 陈曙生先生 | | | 人员姓名 | | 公司副总裁及董事会秘书 王恬女士 | | ...

编号：2015-04 证券代码：002672 证券简称：东江环保 东江环保股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------|-------------------------|-----------------------------------------------------------| | | | | | 投资者关系活 | √ | 特定对象调研 □分析师会议 | | 动类别 | □媒体采访 □业绩说明会 | | | | □ | 新闻发布会 □路演活动 | | | □现场参观 其他 | | | 参与单位名称 | | 中信证券、鹏华基金、易方达、人保资管、长江证券、博时基金 | | 及人员姓名 | 一行 | 通晟资管、中环资产、博时基金、沣杨资产、建设投资等投资者 | | 时间 | 2015 年 7 月 14 | 日 下午 14:00-15:20 | | | | | | 地点 | 东江环保十一楼 | | | 上市公司接待 人员姓名 | | 公司董事长 张维仰先生、副总裁及董事会秘书 王恬女士 | | 投资者关系活 | 主 要交流内 ...

Group 1: Project Overview - The project "Rudong Daheng" was established in 2002, focusing on the treatment of industrial hazardous waste and medical waste, covering an area of 60 acres, making it the largest hazardous waste incineration facility in Nantong City [1][2] - The approved hazardous waste incineration capacity is 13,000 tons/year, with another facility of 6,000 tons/year undergoing technical upgrades, expected to be completed by the end of 2015 [2] - The projected production capacity is 19,000 tons/year by 2016, with an expected utilization rate of 60-70% in 2016, 80-90% in 2017, and full capacity by 2018 [2] Group 2: Market Context - Jiangsu Province ranked second in GDP nationwide in the first three quarters of 2015, with hazardous waste generation ranking third in the country in 2013 [3] - In 2014, Jiangsu had approximately 298 hazardous waste disposal companies, with a total capacity exceeding 7 million tons/year, but over 90% were comprehensive utilization enterprises, indicating a severe shortage of incineration and landfill projects [3][4] - Nantong City ranked fifth in hazardous waste generation in Jiangsu in 2014, with only two incineration facilities capable of handling 5,000-6,000 tons/year and no landfill facilities [4] Group 3: Project Highlights - The project aims to establish a comprehensive hazardous waste treatment network in the Yangtze River Delta, with a total treatment capacity of 200,000 tons/year, including 100,000 tons/year for harmless treatment [4] - The project will handle over 30 categories of hazardous waste, significantly improving the region's waste disposal capabilities [4] Group 4: Future Plans - The overall hazardous waste capacity in Jiangsu is expected to exceed 400,000 tons, with harmless treatment capacity reaching over 200,000 tons, targeting a market share of around 10% [5] - Future expansions will focus on developed regions like the Pearl River Delta, where there is a significant demand gap for harmless treatment [5] - The company plans to enhance market share in existing regions such as Jiangxi, Fujian, Hubei, Shandong, and Hebei based on established strategies [5] Group 5: Financial and Operational Aspects - The company has obtained qualifications for a 200,000 tons/year capacity at the Shajing base, with an expected utilization rate of over 80% by 2016 [5] - The Huizhou project is a pure harmless treatment project with a disposal capacity of 80,000 tons/year, expected to double in scale in the future [6] - The group invests heavily in R&D and technology upgrades, with many subsidiaries qualifying for high-tech enterprise status, benefiting from favorable tax rates [6]

编号：2015-13 证券代码：002672 证券简称：东江环保 东江环保股份有限公司投资者关系活动记录表 | --- | --- | |------------|------------------------------------------------------------| | | | | 投资者关系 | 特定对象调研 □分析师会议 | | 活动类别 | □媒体采访 □业绩说明会 | | | 新闻发布会 □路演活动 | | | □现场参观 其他 | | 参与单位名 | 兴业证券、交银施罗德、农银汇理基金、华商基金、银华基金、通 | | 称及人员姓 | 晟资产、麦盛资管、中国信达、远望资产、大田资管、 Capital | | 名 | 、云嵩资本、长江证券、中金公司等 14 位机构投资者 | | 时间 | 11 月 26 日 上午 10:00-11:30 | | 地点 | | | 上市公司接 | 公司副总裁、董事会秘书 王恬女士 | | 待人员姓名 | | | 投资者关系 | 主要交流内容如下： | | 活动主要内 | | | 容介绍 | 未来会进一步深耕长、珠三角等发达地区，长三角是继珠三角 | | ...

编号：2015-14 证券代码：002672 证券简称：东江环保 东江环保股份有限公司投资者关系活动记录表 | --- | --- | |----------------|------------------------------------------------------------------| | | | | 投 资 者 关 | 特定对象调研 □分析师会议 | | 系 活 动 类 | □媒体采访 □业绩说明会 | | 别 | 新闻发布会 □路演活动 | | | □现场参观 √其他 债券投资人说明会 | | 参 与 单 位 | 中金资管、天和思创、人寿养老、建信基金、江苏银行、国海富兰 | | 名 称 及 人 | 克林、德邦基金、合晟资产、华宝证券资管、中金资管、联讯证券 | | 员姓名 | | | 时间 | 月 3-4 日 | | 地点 | | | 上 市 公 司 | 公司副总裁、董事会秘书 王恬女士 | | 接 待 人 员 | 公司财务总监 田华臣先生 | | 姓名 | | | 投 资 者 关 | 主要交流内容如下： | | 系 活 动 主 | 公司融资及发债情况 | | 要 内 容 介 绍 | ...