Financial Performance - For the six months ended June 30, 2024, the group's revenue from continuing operations was RMB 803.23 million, a decrease of approximately 15% compared to RMB 945.47 million in the same period last year[1]. - The group's EBITDA for the period was RMB 328.46 million, down about 8.3% from RMB 358.30 million in the previous year[1]. - The profit attributable to shareholders for the period was RMB 133.45 million, an increase of approximately 1.4% from RMB 131.60 million in the same period last year[3]. - Basic and diluted earnings per share for the period were RMB 0.089[1]. - The total comprehensive income for the period was RMB 116.23 million, compared to RMB 163.61 million in the previous year[4]. - The company reported a significant increase in profit attributable to shareholders, reaching RMB 141.22 million for the period[12]. - The company reported a net profit of RMB 184,089,000 for the six months ended June 30, 2024, compared to a net loss of RMB 47,234,000 for the same period in 2023[15]. - EBITDA decreased by 8.3% to RMB 328.46 million, while net profit increased by 2.6% to RMB 142.11 million[49]. Revenue Breakdown - For the six months ended June 30, 2024, the total revenue was RMB 906.42 million, with solid waste treatment contributing RMB 803.23 million and ecological construction services contributing RMB 103.19 million[12]. - The company reported a revenue of RMB 103,190,000 for the six months ended June 30, 2024, a decrease of 22.2% compared to RMB 132,631,000 for the same period in 2023[22]. - The company reported a significant increase in revenue from kitchen waste treatment services, which amounted to RMB 96,490,000, up from RMB 69,882,000 in the previous year[15]. - The solid waste treatment segment remains the primary revenue driver, reflecting the company's strategic focus on this area[10]. Assets and Liabilities - The total assets as of June 30, 2024, were RMB 9,759.42 million, a decrease from RMB 9,897.16 million as of December 31, 2023[6]. - The total liabilities decreased to RMB 6,030.07 million from RMB 6,240.80 million as of December 31, 2023[6]. - The total accounts receivable from service concession arrangements was RMB 2,348,194,000 as of June 30, 2024, down from RMB 2,395,699,000 as of December 31, 2023[25]. - The aging analysis of trade receivables showed a total of RMB 810,996,000 as of June 30, 2024, compared to RMB 707,260,000 as of December 31, 2023[26]. - The total accounts payable was RMB 600,883,000 as of June 30, 2024, down from RMB 860,375,000 as of December 31, 2023[28]. - As of June 30, 2024, the company's net current liabilities were RMB 984,151,000, down from RMB 1,077,908,000 as of December 31, 2023[33]. Operational Highlights - The company achieved a total waste processing volume of 2,201,800 tons in the first half of 2024, with an average daily processing of 12,098 tons, representing an 8.7% increase year-on-year[37]. - The company recorded a significant increase in heat and steam supply volume, which rose by 107.8% to 70,300 tons[37]. - The company has initiated 30 R&D projects and obtained 10 patents in the first half of 2024, indicating a focus on technological innovation[37]. - The company plans to enhance capacity utilization of existing projects and expand into light asset businesses such as entrusted operations and equipment general contracting[39]. Cost and Expenses - The financial costs incurred during the period were RMB 56.03 million, impacting overall profitability[12]. - The company’s financial costs for the six months ended June 30, 2024, were RMB 56,027,000, a decrease from RMB 81,219,000 in the same period of 2023[18]. - The income tax expense for continuing operations was RMB 33,593,000 for the six months ended June 30, 2024, compared to RMB 28,284,000 for the same period in 2023[19]. - Administrative expenses increased by 21.2% to RMB 101.94 million, with R&D expenses rising by 55.9% to RMB 20.84 million[44]. - Other operating expenses decreased by RMB 7.83 million to RMB 5.01 million, primarily due to a reduction in trade receivables impairment losses[45]. Corporate Governance - The company has complied with all applicable corporate governance code provisions as of June 30, 2024, except for certain independent non-executive directors who were unable to attend the annual general meeting due to other commitments[74]. - The chairman and CEO roles have been combined since February 1, 2024, which the board believes will benefit the company's current business development and management[74]. - The audit committee, consisting of three independent non-executive directors, has reviewed the interim performance, financial condition, risk management, and internal controls for the six months ending June 30, 2024[77]. - The company did not purchase, redeem, or sell any of its listed securities during the six months ending June 30, 2024[78]. - The company will publish its interim report containing all relevant financial information on the Hong Kong Stock Exchange and its website in a timely manner[79].
北京控股环境集团(00154) - 2024 - 中期业绩