Financial Performance - Zhejiang Tengy Environmental Technology Co., Ltd reported revenue of approximately RMB 356.74 million for the six months ended June 30, 2024, representing an increase of approximately 23.57% compared to the same period last year[1]. - The profit attributable to the owners of the parent company for the reporting period was approximately RMB 14.78 million, an increase of approximately 115.11% year-on-year[1]. - The gross profit for the reporting period was RMB 90.62 million, compared to RMB 61.81 million in the previous year, indicating a significant improvement in profitability[2]. - The company experienced an increase in operating profit to RMB 40.41 million, up from RMB 23.17 million in the previous year, showcasing operational efficiency[2]. - The basic and diluted earnings per share for the reporting period were RMB 0.11, compared to RMB 0.05 in the previous year[2]. - The company's revenue for the reporting period was approximately RMB 356.74 million, with a profit of about RMB 14.78 million, reflecting a significant increase in gross profit by approximately 46.60% to about RMB 90.62 million compared to the same period in 2023[28]. - The profit attributable to the owners of the parent company increased by approximately 115.11% to about RMB 14.78 million, with a weighted average earnings per share of approximately RMB 0.11[32]. Revenue Sources - Sales of environmental protection equipment amounted to RMB 350.71 million, up from RMB 284.47 million in the same period last year, reflecting strong demand in the domestic market[8]. - Revenue from mainland China increased to RMB 356,742,000 in 2024 from RMB 284,869,000 in 2023, reflecting a growth of about 25.2%[11]. - The main revenue sources were from electrostatic precipitators, contributing approximately 77.70%, and products for reducing SO2 and NOx emissions, contributing about 8.50%[22]. - Revenue from environmental equipment products accounted for approximately 98.31% of total revenue, with most contracts related to the manufacturing, installation, and sales of electrostatic precipitators[29]. Assets and Liabilities - The total assets as of June 30, 2024, were RMB 1,835.83 million, compared to RMB 1,813.23 million as of December 31, 2023[3]. - The net current assets increased to RMB 613.15 million from RMB 586.62 million, indicating improved liquidity[3]. - Trade receivables (net of provisions) amounted to RMB 571,442,000 as of June 30, 2024, compared to RMB 559,998,000 at the end of 2023, showing a slight increase of approximately 2.0%[15]. - The total bank loans secured amounted to RMB 89,502,000 as of June 30, 2024, remaining unchanged from the previous year[17]. - The capital debt ratio as of June 30, 2024, was approximately 10.11%, slightly down from approximately 10.29% as of December 31, 2023[34]. Research and Development - The company plans to invest more time and resources in R&D and production of energy-efficient environmental equipment to meet market demand for green technology[38]. - The company aims to actively seek suitable acquisition projects to expand into various environmental reduction industries, new materials, and new energy sectors[38]. Market and Industry Outlook - The environmental equipment manufacturing industry in China is projected to grow from RMB 960 billion in 2022 to RMB 1.3 trillion by 2025[26]. - The company aims to leverage opportunities from the "14th Five-Year Plan" and the "20th National Congress Report" to expand its domestic market share[27]. - The company anticipates continued government support for energy conservation and environmental governance, which will enhance its strategic position in the industry[27]. Company Operations - The company continues to focus on the design, development, manufacturing, installation, and sales of environmental pollution control equipment and electronic products[4]. - The total non-current assets are all located in mainland China, indicating a focused operational strategy[11]. - The company employs 508 full-time employees as of June 30, 2024, an increase from 422 employees at the end of 2023[28]. - The company is one of the few manufacturers capable of providing electrostatic precipitators for single generating units of 1,000 MW or more[28]. - As of June 30, 2024, the company held 57 registered patents in China, including 3 invention patents and 54 utility model patents[28]. Dividends - The company did not recommend the payment of any dividends for the reporting period[1]. - The company did not recommend any interim dividend for the six months ended June 30, 2024, and 2023[19]. Legal Matters - The company has no significant legal proceedings or contingent liabilities as of June 30, 2024[36].
天洁环境(01527) - 2024 - 中期业绩