Financial Performance - The company reported an unaudited interim revenue of RMB 0.1 per share as a cash dividend for the first half of 2024, subject to shareholder approval[4]. - The company's operating revenue for the first half of 2024 was CNY 1,660,506,740.32, a decrease of 22.46% compared to the same period last year[20]. - Net profit attributable to shareholders was CNY 303,026,018.30, down 16.76% year-on-year[20]. - Basic earnings per share for the first half of 2024 were CNY 0.22, a decrease of 15.38% compared to the same period last year[21]. - The total profit for the period was RMB 391,058,983.14, a decrease of RMB 44,030,560.57 compared to the previous year, attributed to reduced gross profit and increased operational expenses[57]. - The company’s total comprehensive income for the first half of 2024 was RMB 323,733,601.98, down from RMB 380,095,083.50 in the first half of 2023[161]. - The company reported a total comprehensive loss of ¥364,057,245.61 for the first half of 2023, highlighting challenges in profitability during that period[171]. Compliance and Governance - The board of directors confirmed the accuracy and completeness of the interim report, ensuring no false records or significant omissions[4]. - The interim financial report was prepared in accordance with the Chinese Accounting Standards and is compliant with the relevant disclosure requirements[5]. - The company has maintained compliance with corporate governance codes and will continue to review its governance practices[89]. - The company has implemented measures to ensure that all major decisions are made with board approval, maintaining a balance of power[89]. - The company is committed to high standards of corporate governance to protect shareholder interests and enhance company value[89]. Risk Management - The company has outlined potential risks including policy, market, and operational risks in the management discussion section[4]. - The company has established an audit and risk management committee to review the report and discuss accounting policies with management[4]. - The company will monitor industry policy risks closely and adapt its operations to mitigate potential impacts, including adjusting waste treatment fees if necessary[72]. - The company faces risks of project cost overruns and delays due to factors beyond its control, such as material price fluctuations and labor disputes[78]. - The company is actively monitoring policy changes and will negotiate terms in franchise agreements to mitigate potential losses from changes in environmental tax incentives[75]. Environmental Initiatives - The company has a significant focus on environmental protection and renewable energy, with projects such as the biomass power project in Ninghe and the comprehensive waste treatment center in Miyun[11]. - The company emphasizes the importance of green certificates, which correspond to renewable energy generation, as part of its sustainability initiatives[12]. - The company’s waste incineration projects contribute to carbon reduction by replacing landfills and providing energy, thus reducing greenhouse gas emissions[105]. - The company adheres to the principle of "prevention first, combined prevention and control" in its environmental protection management[104]. - The company has established measures in its franchise agreements to ensure compensation from local governments if waste supply falls below guaranteed levels[77]. Operational Capacity and Projects - The company operates multiple projects across various regions, including waste-to-energy projects in cities like Wuhan and Shantou[11]. - The company operates 37 projects in the waste-to-energy sector, with a waste processing capacity of 40,300 tons per day and an installed capacity of 857 MW as of June 30, 2024[24]. - The company is involved in the construction and operation of several BOT (Build-Operate-Transfer) projects, enhancing its operational capacity[12]. - The company reported a strong commitment to expanding its waste-to-energy capabilities, with ongoing projects in places like Guizhou and Jiangsu[11]. - The company is focusing on improving the economic benefits of existing projects through cost reduction strategies and operational enhancements[38]. Financial Position - The total assets of the company were CNY 22,515,212,843.20, a slight decrease of 0.10% from the end of the previous year[20]. - The company's debt-to-asset ratio was 62.69%, indicating a stable capital structure management strategy[61]. - The total equity attributable to shareholders increased to RMB 7,913,311,756.42 as of June 30, 2024, up from RMB 7,807,439,716.26 at the end of 2023, representing a growth of approximately 1.36%[154]. - The company has a total bank credit limit of RMB 18,379,060,000.00, with RMB 3,524,832,079.00 remaining unused as of June 30, 2024[62]. - The company’s total liabilities decreased to RMB 14.11 billion from RMB 14.26 billion, a reduction of approximately 1.06%[153]. Cash Flow and Investments - The net cash flow from operating activities increased by 88.86% to CNY 543,371,427.14 compared to the previous year[20]. - The company generated RMB 646,584,501.34 in cash inflow from investment activities in the first half of 2024, compared to RMB 1,334,145,207.50 in the same period of 2023[168]. - The company reported a net cash decrease of RMB (15,284,786.34) in the first half of 2024, a significant reduction compared to RMB (724,824,722.19) in the same period of 2023[166]. - The company has not implemented any capital reserve increase or bonus shares in this profit distribution plan[86]. - The company has not engaged in any major contracts or guarantees during the reporting period[116]. Shareholder Information - The company plans to distribute a cash dividend of RMB 0.1 per share, totaling approximately RMB 139.35 million for the first half of 2024[86]. - The largest shareholder, Beijing State-owned Assets Management Co., holds 594,085,618 shares, representing 42.63% of the total shares[130]. - The total number of ordinary shareholders reached 41,925 by the end of the reporting period[129]. - The total number of shares held by the top ten shareholders includes significant stakes in both domestic and foreign shares[131]. - The total issued shares of the company as of June 30, 2024, is 1,393,451,878[134]. Employee and Management Practices - The company maintains a competitive salary system linked to performance and task completion, with ongoing adjustments based on operational conditions and industry standards[137]. - The company has established a comprehensive training mechanism for employee development, including various specialized training programs[137]. - The company has not reported any violations of employee trading guidelines during the reporting period[136]. - The total number of employees in the group as of June 30, 2024, is 3,370[137]. - The company has adopted a salary management system based on target management and performance evaluation[137]. Technological Development - The company is focused on enhancing its technological capabilities in waste management and energy production[12]. - The company completed the basic design for a small-scale multi-drive reverse combustion furnace (100-200 tons) as part of its R&D efforts[41]. - The company aims to enhance operational efficiency through digitalization and has partnered with Alibaba Cloud for smart power plant construction[41]. - The company is exploring the establishment of a low-carbon environmental industry park to achieve high-quality development[43]. - The company plans to enhance power generation through technology research and development, facility upgrades, and improved operational management to offset rising environmental costs[74].
绿色动力环保(01330) - 2024 - 中期业绩