Financial Performance - For the six months ended June 30, 2024, the group's revenue was approximately RMB 804.01 million, a decrease of 17.18% compared to the same period last year[2]. - The net profit attributable to equity shareholders for the same period was approximately RMB 82.14 million, down 58.93% year-on-year[2]. - Basic earnings per share for the period were RMB 0.04, a decrease of RMB 0.07 compared to the previous year[2]. - The group reported a gross profit of RMB 359.65 million, down from RMB 486.36 million in the same period last year[5]. - Operating profit for the period was RMB 164.56 million, compared to RMB 299.20 million in the previous year[5]. - Total comprehensive income for the period was RMB 92.30 million, down from RMB 224.44 million year-on-year[7]. - Revenue for the six months ended June 30, 2024, was RMB 804,007 thousand, a decrease of 17.1% compared to RMB 970,784 thousand for the same period in 2023[15]. - The industrial hazardous waste disposal service generated revenue of RMB 558.63 million, a decrease of 11.56% year-on-year[58]. - The gross profit margin for the industrial hazardous waste disposal service was 45.59%, down 6.66 percentage points from the previous year[59]. - The gross profit for the resource comprehensive utilization segment increased by 164.48%, with a gross profit margin of 29.90%, up 17.98 percentage points[61]. Assets and Liabilities - The company's total assets as of June 30, 2024, were RMB 6,746.12 million, compared to RMB 6,735.94 million at the end of the previous year[8]. - The company's total liabilities were RMB 2,933.17 million, an increase from RMB 2,676.33 million year-on-year[8]. - The company's cash and cash equivalents increased to RMB 348.52 million from RMB 246.25 million in the previous year[8]. - Total assets at the end of the reporting period amounted to RMB 9,679.29 million, an increase of RMB 267.02 million compared to the end of the previous year[64]. - The group's debt-to-asset ratio was 61.22%, an increase of 0.64 percentage points from the end of the previous year[64]. - Non-current assets were RMB 8,216.89 million, up 2.67% year-on-year, primarily due to increases in property, plant, and equipment[66]. - Current assets reached RMB 1,462.39 million, reflecting a 3.80% increase year-on-year, mainly due to an increase in bank deposits[66]. - Current liabilities increased by 9.60% to RMB 2,933.17 million, primarily due to an increase in current portion of long-term borrowings[67]. Cash Flow - Net cash generated from operating activities was RMB 245.53 million, a decrease of RMB 32.56 million year-on-year, mainly due to increased procurement payments[75]. - Net cash used in investing activities was RMB 338.4 million, a decrease of RMB 132.07 million year-on-year, primarily due to reduced payments for property, plant, and equipment[76]. - Net cash generated from financing activities was RMB 195.13 million, a decrease of RMB 45.6 million year-on-year, mainly due to reduced net borrowings during the reporting period[77]. - Cash and cash equivalents at the end of the reporting period were RMB 348.52 million, an increase of RMB 27.1 million year-on-year[73]. Dividends and Shareholder Returns - The board of directors has resolved not to declare an interim dividend for the six months ended June 30, 2024[2]. - The board has approved a final dividend of HKD 0.03 per share, totaling approximately RMB 50,044,000, to be distributed in July 2024[36]. Operational Highlights - The company operates primarily in China, with all external customer revenue generated from this market[17]. - The group processed approximately 549,900 tons of industrial hazardous waste during the reporting period, representing a year-on-year increase of about 0.69%[42]. - The group processed approximately 821,400 tons of industrial solid waste, a year-on-year decrease of about 20.73%[44]. - The group is actively expanding its industrial solid waste market, obtaining disposal rights for multiple urgent projects such as battery sludge and steel slag sludge[44]. - The group has ongoing projects with a processing capacity of 100,000 tons per year in Gansu Yongdeng, expected to be completed by October 2024[48]. - The group has a total processing capacity of approximately 1,175.26 million tons per year across its operational and construction projects[54]. Strategic Focus - The group plans to focus on green low-carbon development strategies, emphasizing resource recycling and energy conservation[83]. - The group aims to enhance market share by activating existing customer potential and expanding into new markets[85]. - The company aims to focus on green development areas, increasing R&D investment and technological innovation to adapt to domestic and international technological changes[87]. - The company will enhance accounts receivable management and implement differentiated debt collection strategies to ensure stable cash flow[88]. Employee and Compensation - The total employee compensation, including directors' remuneration, was approximately RMB 191.95 million, an increase of 12.6% from RMB 170.51 million in the same period of 2023[82]. - The group has established a workforce of 3,423 employees as of the reporting period, down from 3,539 employees at the end of 2023[82]. Market Conditions - The company's GDP growth in China for 2024 is projected at 5.0%, indicating a recovering economic environment[38]. - The company has not reported any customer revenue exceeding 10% of total revenue during the reporting period[15]. - The group has no significant foreign exchange risk due to most assets and transactions being denominated in RMB[79].
海螺环保(00587) - 2024 - 中期业绩