Financial Performance - Revenue for the first half of 2024 was RMB 3,134,976, a decrease of 29.35% compared to RMB 4,437,539 in the same period of 2023[24]. - Profit before tax for the first half of 2024 was RMB 1,251,579, down 39.40% from RMB 2,065,336 in the previous year[24]. - Net profit attributable to equity shareholders for the first half of 2024 was RMB 1,175,881, a decline of 35.32% from RMB 1,817,965 in the same period of 2023[24]. - The profit from associates for the first half of 2024 was RMB 701,120, a decrease of 44.76% from RMB 1,269,264 in the same period of 2023[24]. - The net profit from core operations attributable to equity shareholders was RMB 474,761, down 13.48% from RMB 548,701 in the previous year[24]. - The company achieved a revenue of RMB 3.135 billion, representing a year-on-year decline of 29.35%[26]. - The net profit attributable to equity shareholders was RMB 475 million, a year-on-year decrease of 13.48%[26]. - The waste disposal segment generated revenue of RMB 2,560.85 million, a decrease of 24.63% year-on-year, primarily due to a reduction in construction projects[52]. - The energy-saving equipment segment reported revenue of RMB 332.56 million, down 60.80% year-on-year, mainly due to a decrease in overseas orders[53]. - The new energy business achieved revenue of RMB 106.40 million, showing a significant increase of 259.08% year-on-year, driven by proactive market expansion[53]. - The gross profit margin for the waste disposal segment improved to 38.39%, up from 28.58% in the previous year[56]. - The group's gross profit margin for the reporting period was 36.71%, an increase of 10.10 percentage points year-on-year[57]. Assets and Liabilities - Total assets as of June 30, 2024, were RMB 81,902,307, reflecting a 1.79% increase from RMB 80,460,379 at the end of 2023[25]. - Total liabilities increased by 2.11% to RMB 33,397,214 as of June 30, 2024, compared to RMB 32,707,661 at the end of 2023[25]. - The equity attributable to equity shareholders was RMB 47,097,624, up 1.69% from RMB 46,315,519 at the end of 2023[25]. - Cash and cash equivalents at the end of the reporting period were RMB 3,163.42 million, with a net increase of RMB 68.44 million[67]. - The total number of employees increased to 6,386 as of June 30, 2024, compared to 5,814 on June 30, 2023, representing a growth of approximately 9.8%[74]. - Total employee compensation, including directors' remuneration, was approximately RMB 367.3 million for the reporting period, up from RMB 288.14 million in the same period last year, reflecting a year-on-year increase of about 27.5%[74]. - The company's total liabilities were RMB 33,397.21 million, up from RMB 32,707.66 million at the end of the previous year[62]. - The company's net asset value reached RMB 48,505,093 thousand, compared to RMB 47,752,718 thousand, showing an increase of 1.57%[103]. Operational Highlights - The company has signed 131 projects across 23 provinces and municipalities, including 101 waste-to-energy projects[27]. - The waste-to-energy segment received approximately 9.011 million tons of municipal waste, an increase of 19% year-on-year[28]. - The company processed about 7.786 million tons of municipal waste, reflecting an 18% year-on-year growth[28]. - The on-grid electricity generated was approximately 2.53 billion kWh, marking a 17% increase year-on-year[28]. - The average electricity generation per ton was approximately 326 kWh[28]. - The company is actively pursuing price adjustments for waste disposal fees, having completed adjustments for 3 projects[28]. - The company is focusing on enhancing operational efficiency through professional and refined management practices[27]. - The company is committed to green and sustainable development, aligning with China's economic transformation goals[26]. - The company has a total processing capacity of 1,601,000 tons per year (44,550 tons per day) across various projects, with several projects under construction and expected to be operational by 2024[33]. - The company is expanding its market presence with new projects in Vietnam, including Bac Ninh with a capacity of 110,000 tons/year (300 tons/day) expected to be completed by November 2023[33]. Strategic Outlook - The company is focusing on strategic expansion and new product development to enhance future performance[24]. - Management indicated a cautious outlook for the remainder of 2024 due to market conditions and competition[24]. - The company plans to enhance competitiveness in the new energy materials sector by focusing on personnel structure, production costs, and product performance[48]. - The group aims to enhance core competitiveness and promote healthy development across multiple industry sectors in the second half of 2024[46]. - The strategic committee is focused on long-term development strategies and sustainable policies, indicating a commitment to future growth despite current challenges[95]. Shareholder Information - The board has decided not to declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[75]. - Major shareholders include Conch Union with a 12.04% stake, Anhui Haichuang Group with a 11.27% stake, and Conch Group with a 5.12% stake as of June 30, 2024[76]. - The company aims to maintain shareholder interests through its share repurchase strategy[85]. - The company repurchased a total of 17,904,500 shares during the reporting period, at a total cost of HKD 97,025,815[85]. - The company approved a final dividend of HKD 0.20 per share, totaling approximately RMB 327,265,000, compared to RMB 670,269,000 for the previous year, indicating a decrease of about 51.1%[152]. - The board of directors announced a meeting on September 4, 2024, to discuss the declaration and payment of a special dividend to shareholders[180].
海螺创业(00586) - 2024 - 中期财报