维尔利(300190) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was ¥1,004,346,376.29, a decrease of 11.80% compared to ¥1,138,740,781.37 in the same period last year[11]. - Net profit attributable to shareholders was ¥42,208,363.81, representing a significant increase of 153.09% from ¥16,677,005.19 in the previous year[11]. - The net cash flow from operating activities improved to ¥57,652,576.43, a 405.39% increase from a negative cash flow of ¥18,878,641.94 in the same period last year[11]. - Total assets at the end of the reporting period were ¥8,606,798,598.72, down 5.22% from ¥9,080,777,387.41 at the end of the previous year[11]. - The basic earnings per share increased to ¥0.05, up 150.00% from ¥0.02 in the same period last year[11]. - The diluted earnings per share rose to ¥0.07, reflecting a 75.00% increase from ¥0.04 in the previous year[11]. - The company reported a significant decline in non-operating income, with a net loss of ¥48,078,327.64 from non-recurring gains and losses, compared to a profit of ¥4,187,840.97 last year[11]. - The weighted average return on net assets was 1.18%, an increase from 0.43% in the same period last year[11]. Business Strategy and Operations - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[2]. - The company is facing various operational risks, which have been detailed in the management discussion section of the report[2]. - The company has been engaged in leachate treatment for nearly 20 years, with over 400 projects undertaken, achieving a total treatment capacity of 180,000 tons per day[20]. - The company has developed core technologies for leachate treatment, including MBR, anaerobic, ultrafiltration, nanofiltration, and reverse osmosis[20]. - The company is actively expanding its energy business while focusing on organic waste resource utilization and industrial energy conservation and environmental protection[19]. - The company operates under various business models, including EPC, BOT, and entrusted operation, to adapt to market changes[20]. - The company recognizes the need for technical and operational advantages to maintain core competitiveness in an increasingly competitive market[19]. - The company is positioned to benefit from the increasing regulatory focus on environmental protection and the need for upgraded treatment capabilities[19]. Market Trends and Industry Outlook - The environmental protection industry is expected to reach a scale of approximately 15 trillion yuan by 2030, driven by national policies and green development concepts[19]. - The implementation of various national policies is expected to enhance the demand for leachate treatment facilities and operational services[19]. - The environmental protection industry is transitioning from a growth market to a stock market, emphasizing high-quality development and technological innovation[19]. - The government has issued multiple policies to strengthen the management of pollution from waste treatment facilities, which will further drive the demand for leachate treatment[19]. - The national plan aims for 70,000 tons/day of waste classification and transportation capacity by the end of 2025, indicating significant market demand for wet waste treatment[21]. Project Development and Investments - The company has undertaken over 350 biogas projects, showcasing its advanced technology and strong market position in the biogas and renewable energy sector[22]. - The company is actively developing energy utilization projects, including high-value utilization of biogas and carbon asset management, capitalizing on its existing project resources[22]. - The company has completed over 60 industrial energy-saving and waste resource projects, leveraging technologies like waste heat utilization and energy efficiency improvement[23]. - The company has signed contracts for biogas high-value utilization projects with a total daily processing capacity of approximately 90,000 cubic meters, corresponding to the daily production of about 56,500 cubic meters of biogas[27]. - The company aims to achieve an annual biogas production exceeding 800 million cubic meters, leveraging over 350 projects with a daily output of more than 10,000 cubic meters[27]. Financial Management and Capital Structure - The company has sold nearly 1,000 sets of VOCs recovery equipment, demonstrating strong market competitiveness in the VOCs gas recovery and treatment field[24]. - The company reported a total guarantee amount of RMB 16,952.47 million during the reporting period, with actual guarantees amounting to RMB 14,952.47 million[103]. - The company plans to repurchase shares using its own funds, with a total repurchase amount between RMB 30 million and RMB 60 million, at a price not exceeding RMB 5 per share[105]. - A total of 18,723,100 shares have been repurchased, accounting for 2.40% of the total share capital, with a total transaction amount of RMB 50,823,596.75[105]. - The company has a total of 776,169,113 shares outstanding, with 99.31% being unrestricted shares[107]. Environmental Compliance and Sustainability - The company is engaged in environmental protection and waste treatment, adhering to various national laws and industry standards, including the Environmental Protection Law and the Water Pollution Prevention Law[73]. - The company has obtained all necessary environmental permits, which are currently valid[73]. - The company reported a total nitrogen discharge of 80 tons and suspended solids (SS) discharge of 1.2 tons, both compliant with standards[74]. - The company continues to focus on environmental compliance and sustainability in its operations, reflecting its commitment to environmental responsibility[73]. - The company has implemented measures for wastewater reuse, ensuring that discharge levels for various pollutants remain below specified thresholds[77]. Corporate Governance and Shareholder Relations - The company has maintained a strong commitment to protecting shareholder rights, ensuring transparent communication through various channels[87]. - The company has no significant legal disputes or administrative penalties reported during the reporting period[89][90]. - The company has not engaged in any major related party transactions or non-operating fund occupation by controlling shareholders[89][91]. - The company held its first extraordinary shareholders' meeting in 2024 with a participation rate of 30.01%[69]. - The company appointed a new independent director, Dai Xiaohu, during the extraordinary shareholders' meeting held on March 12, 2024[70]. Financial Reporting and Accounting Policies - The financial statements are prepared based on actual transactions and in accordance with the accounting standards issued by the Ministry of Finance and the China Securities Regulatory Commission[157]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its sustainability[158]. - The accounting policies include provisions for bad debts, inventory write-downs, depreciation of fixed assets, and revenue recognition[159]. - The group employs an expected credit loss model for assessing impairment of financial instruments and contract assets, considering historical repayment data and macroeconomic indicators[176]. - The group assesses the impairment of inventory based on the lower of cost and net realizable value, with provisions made for damaged or obsolete inventory[180].