Financial Performance - For the year ended December 31, 2020, the Group's revenue increased by 32.5% to HK$789,341,000 compared to the previous year[14]. - The net profit for the same period rose by 43.5% to HK$102,046,000, with profit attributable to owners of the Company increasing by 83.6% to HK$74,576,000[17]. - Total earnings per share attributable to the owners of the Company was HK$0.0246, an increase of 83.6% from 2019[17]. - Consolidated EBITDA in 2020 increased by 21.3% compared to 2019[14]. - The Group's revenue increased by 32.5% to HK$789,341,000 for the year ended December 31, 2020[29]. - Profit attributable to owners of the Company rose by 83.6% to HK$74,576,000, with earnings per share increasing to HK$0.0246[21][30]. - The Group's EBITDA grew by 21.3% to HK$209,958,000[29]. - Net profit for the year attributable to owners of the Company increased by 43.5% to HK$102,046,000 compared to HK$71,129,000 in 2019[79]. - Basic and diluted earnings per share attributable to owners of the Company rose by 83.6% to 2.46 HK cents from 1.34 HK cents[79]. - The average gross profit margin decreased by 18.0% to 27.8% from 33.9% in 2019[79]. Cash and Equity - As of December 31, 2020, equity attributable to owners of the Company was HK$1,034,427,000, up from HK$911,528,000 in 2019[18]. - Cash and cash equivalents as of December 31, 2020, were HK$257,523,000, slightly down from HK$267,393,000 in 2019[18]. - The Group's total assets as of December 31, 2020, amounted to approximately HK$1,745,603,000, an increase from HK$1,618,570,000 in 2019[111]. - The total equity (including non-controlling interests) increased to HK$1,163,337,000 in 2020 from HK$1,028,316,000 in 2019, indicating growth in shareholder value[127]. - The Group's equity attributable to owners increased to approximately HK$1,034,427,000 as of December 31, 2020, from HK$911,528,000 in 2019[111]. Debt and Borrowings - Total bank borrowings decreased to HK$189,035,000 from HK$240,409,000 in 2019[18]. - Total interest-bearing borrowings decreased to HK$214,182,000 in 2020 from HK$290,799,000 in 2019, representing a reduction of approximately 26%[127]. - The gearing ratio improved to 18.4% in 2020 compared to 28.3% in 2019, indicating a stronger capital structure[127]. - The Group provided a joint liability guarantee for a bank loan facility of up to RMB120,000,000 (approximately HK$141,600,000) for the construction of integrated hazardous waste treatment facilities[72]. Operational Highlights - The Group's operations in Mainland China were impacted by COVID-19 in the first quarter, but recovered quickly in the second quarter, leading to overall performance surpassing 2019 levels[13]. - The average level of the Group's operations in 2020 was well-recovered, indicating resilience against the pandemic's challenges[13]. - The demand for hazardous waste disposal services returned to normal in the second half of 2020 after temporary shutdowns due to COVID-19 control measures[104]. - The Group aims to maintain healthy indebtedness and liquidity while exploring new opportunities in the environmental industry[24]. - The Group anticipates sustainable operations in its environmental-related business in the long run, barring any uncertain economic factors[26]. Environmental Services - For the year ended December 31, 2020, the Group's total segment revenue from environmental treatment and disposal services for industrial and medical wastes was approximately HK$601,211,000, an increase of 31.4% from HK$457,450,000 in 2019[37]. - The Group collected approximately 100,335 metric tons of hazardous industrial waste in 2020, up from 73,518 metric tons in 2019, representing an increase of 36.3%[37]. - The revenue from the treatment of hazardous industrial waste was HK$555,701,000 in 2020, compared to HK$418,664,000 in 2019, reflecting a growth of 32.8%[37]. - The segment profit margin (pre-tax) for the environmental treatment of industrial and medical waste services was approximately 21.3% in 2020, slightly down from 21.6% in 2019[44]. - Revenue from regulated medical waste treatment was HK$42,170,000 in 2020, up from HK$31,118,000 in 2019, marking a growth of 35.5%[37]. Management and Governance - Mr. XI was appointed as the executive director and chairman of the board in 2016, and he holds 83.66% of New Universe Enterprises Limited (NUEL), which has a 36.54% beneficial interest in the company[191]. - Ms. Zhang, appointed as executive director in February 2019, has a background in law and currently serves as senior legal counsel at CMIG Asia Asset Management[194]. - Mr. Han has been appointed as the Chief Financial Officer since September 6, 2004, and has extensive qualifications in accounting and finance[200]. - Mr. Han's educational background includes a Master's degree in Applied Finance from the University of Western Sydney, obtained in August 1999[200]. - The Group is committed to continuous monitoring of its risk management and internal control systems[172]. Future Outlook - The Group expects to sustain its performance and deliver reasonable results in the forthcoming year, barring unforeseen risks from the global and local economies[73]. - The Group aims to strengthen its penetration in different geographical markets to reduce dependency on specific markets for hazardous waste treatment services[170]. - The Group is focused on enhancing the efficiency of existing facilities and project management levels[171].
新宇环保(00436) - 2020 - 年度财报