Company Overview - China Everbright Environment Group Limited is the largest environmental enterprise in China and a leading player in Asia's environmental protection industry, focusing on solid waste, water-related business, and clean energy [2]. - The company operates in over 225 locations across 26 provinces and has expanded its business to international markets including Germany, Poland, Vietnam, and Mauritius [3]. - Everbright Environment has been ranked first among the "Top Ten Influential Solid Waste Treatment Enterprises in China" for 13 consecutive years and has been included in the MSCI China Index for 11 consecutive years [4]. - The company aims to create investment value while undertaking social responsibility, reflecting its commitment to sustainability [4]. - Everbright Environment's corporate mission is "Devoted to Ecology and Environment for a Beautiful China," emphasizing its focus on ecological and environmental protection [4]. Sustainability and Recognition - The company has received the Achievement of Net-Zero Certificate and was recognized as a Pioneering Organisation in Net-Zero Contribution by the Hong Kong Quality Assurance Agency in 2022 [4]. - Everbright Environment has been a constituent member of the Dow Jones Sustainability Indices for 8 years and the Hang Seng Corporate Sustainability Benchmark Index for 13 years [4]. - The company has been recognized multiple times in S&P Global's Sustainability Yearbook, highlighting its commitment to sustainable practices [4]. - The Group received first place in the "2023 Top 50 Environmental Enterprises in China" for the fifth consecutive year and first place in the "Top Ten Influential Solid Waste Treatment Enterprises in China" for the thirteenth consecutive year [99]. Financial Performance - Revenue for 2023 decreased by 14% to HK$32,090,207, compared to HK$37,321,229 in 2022 [17]. - Profit attributable to equity holders of the Company decreased by 4% to HK$4,429,160 in 2023 from HK$4,601,939 in 2022 [17]. - Total assets decreased by 1% to HK$189,182,824 in 2023, down from HK$190,597,798 in 2022 [17]. - Equity attributable to equity holders increased by 2% to HK$48,140,888 in 2023, compared to HK$47,374,108 in 2022 [17]. - Gearing ratio improved to 65% in 2023 from 67% in 2022, a decrease of 2 percentage points [17]. - Current ratio increased to 114% in 2023, up from 107% in 2022, an increase of 7 percentage points [17]. Project Developments - The Group completed the construction of the Hainan Boao Zero-Carbon Demonstration Zone Project in the first quarter of 2023 [30]. - The Sichuan Yibin Second Household Waste-to-energy Project was secured, marking the Group's first implementation of an asset-light business model in the second quarter of 2023 [33]. - The Group entered the Yunnan waste-to-energy market through the acquisition of the Yunnan Zhaotong Waste-to-energy Project in the third quarter of 2023 [35]. - The Group established a strategic partnership with China Construction Bank to enhance cooperation on integrated financial services solutions in the fourth quarter of 2023 [37]. - The Group solidified its traditional business advantages and made breakthroughs in county-level markets and overseas markets, achieving a more diversified business portfolio [47]. Operational Efficiency and Innovation - The Group established a shared ecosystem for technological innovation, focusing on digitalizing business management and fostering scientific research [50]. - The management system was further refined to promote standardized organizational work and enhance efficiency through centralized management measures [50]. - The Group's strategic focus includes promoting innovation and transformation to drive high-quality development and operational competitiveness [169]. - The Group's procurement efficiency was boosted through optimized systems and training, further reducing procurement costs [88]. - The Automatic Combustion Control (ACC) system has been implemented in nearly 40 environmental protection projects, enhancing operational efficiency [161]. Environmental Impact - The Group processed 52,440,000 tonnes of household waste, generating 25,865,000,000 kWh of green electricity, equivalent to the annual electricity consumption of 21,554,000 households, while avoiding 13,948,000 tonnes of CO2 emissions [92]. - The Group treated 1,749,000,000 m³ of wastewater, reducing Chemical Oxygen Demand (COD) discharge by 850,000 tonnes during the year [92]. - The Group's cumulative processing of household waste reached 270,365,000 tonnes, providing 131,351,000,000 kWh of green electricity and avoiding 113,015,000 tonnes of CO2 emissions since 2005 [94]. - The environmental energy sector increased waste intake and electricity generation compared to 2022, contributing to enhanced profitability and efficiency [84]. Strategic Partnerships and Collaborations - The Group has a strategic partnership with the International Coalition for Green Development on the Belt and Road initiative [4]. - The Group's strategic partnerships with major financial institutions and construction companies aim to deepen cooperation in comprehensive financial services and environmental projects [39]. - The Group signed a project cooperation agreement with Jiangsu King's Luck Brewery to develop a zero-carbon park, focusing on rooftop solar energy and user-side energy storage [138]. Future Outlook - The Group aims to become "a World-Class Integrated Environmental Service Provider with Chinese Characteristics" while focusing on high-quality development [51]. - The Group plans to deepen its major responsibilities and consolidate its leading position in solid waste, water-related business, and clean energy sectors [169]. - The Group's proactive "going global" strategy continued to enhance its collaborative ecosystems and business landscape [57].
光大环境(00257) - 2023 - 年度财报