Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 1,656,202 thousand, representing an increase of 12.0% compared to RMB 1,479,030 thousand for the same period in 2020[4] - Gross profit for the same period was RMB 496,667 thousand, slightly up from RMB 488,744 thousand, indicating a stable gross margin[4] - Net profit for the six months ended June 30, 2021, was RMB 120,372 thousand, down 23.6% from RMB 157,696 thousand in the prior year[4] - Basic and diluted earnings per share decreased to RMB 12.69 from RMB 18.26, reflecting a decline of 30.5%[5] - The company reported a net profit of RMB 120,272,000 for the period[21] - The net profit attributable to shareholders was approximately RMB 112 million, a decrease of 30.47% compared to the previous year[58] - The company reported a pre-tax profit of RMB 111,617 thousand for the period, down from RMB 160,542 thousand in the previous year, indicating a decline of about 30.5%[29] - The total tax expense for the period was RMB 19,524 thousand, significantly lower than RMB 39,236 thousand in the previous year, indicating a decrease of approximately 50.2%[27] Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 8,059,846 thousand, an increase from RMB 7,869,508 thousand at the end of 2020[6] - The total assets of the company amounted to RMB 10,892,803,000[21] - The company’s total liabilities as of June 30, 2021, were RMB 1,921,147 thousand, an increase from RMB 1,474,376 thousand at the end of 2020, indicating a growth of approximately 30.3%[8] - The company’s total liabilities decreased to RMB 2,516,793 thousand as of June 30, 2021, compared to RMB 2,880,047 thousand in the previous year, reflecting a reduction of approximately 12.6%[24] - As of June 30, 2021, the total liabilities of the group amounted to approximately RMB 5,390,765,000, an increase from RMB 5,050,514,000 as of December 31, 2020, resulting in a debt-to-asset ratio of 49.49% compared to 48.45% in the previous period[71] Cash Flow and Financing - Cash and cash equivalents increased to RMB 726,752 thousand from RMB 661,657 thousand, indicating improved liquidity[6] - The net cash generated from operating activities for the six months ended June 30, 2021, was RMB 135,688 thousand, a decrease from RMB 399,076 thousand for the same period in 2020, reflecting a decline of about 65.9%[11] - The company reported a net cash outflow from investing activities of RMB 485,163 thousand for the first half of 2021, compared to RMB 340,739 thousand in the same period of 2020, indicating an increase in investment expenditures[11] - Financing activities generated a net cash inflow of RMB 421,415 thousand in the first half of 2021, contrasting with a net cash outflow of RMB 373,756 thousand in the same period of 2020[11] - The company plans to issue up to RMB 1.5 billion in short-term financing bonds to meet long-term funding needs for project construction and technological upgrades[84] - The company received a registration notice for issuing up to RMB 1,500,000,000 in short-term financing bonds, primarily for refinancing and operational funding[16] Operational Highlights - The company plans to focus on market expansion and new technology development to enhance future growth prospects[4] - The total revenue from the industrial waste resource utilization segment was RMB 654,695,000[20] - The total revenue from the industrial waste treatment segment was RMB 759,679,000, with a cost of RMB 731,279,000[20] - The total revenue from municipal waste treatment was RMB 92,554,000, with a cost of RMB 12,733,000[20] - The company aims to enhance market share and business volume by optimizing market management and exploring new market opportunities in pharmaceuticals, chemicals, and automotive repair industries[59] - The group added a new hazardous waste treatment capacity of 139,500 tons per year during the reporting period, with a total approved capacity of 2,130,000 tons per year[60] Research and Development - Research and development expenses rose to RMB 65,555 thousand in the first half of 2021, up from RMB 51,787 thousand in the same period of 2020, representing an increase of approximately 26.5%[26] - The group invested RMB 68,843,600 in R&D, an increase of 11.18% compared to the same period last year, focusing on tackling industry challenges and enhancing technological capabilities[62] Shareholder Information - Major shareholder Guangdong Guangsheng holds 166,068,501 shares, representing 18.89% of the total A shares[90] - Jiangsu Huihong International Group holds 50,087,669 A shares, accounting for 5.70% of the total[91] - The board does not recommend any interim dividend for the six months ended June 30, 2021, consistent with the previous year[97] Corporate Governance - The company is committed to maintaining high standards of corporate governance and transparency[98] - The chairman and CEO roles are currently held by the same person as a transitional arrangement[99] - The company has complied with all applicable corporate governance code provisions during the reporting period[98]
东江环保(00895) - 2021 - 中期财报