TRE(SZ:300332)2016-08-16 16:00Company Overview - The company’s stock code is 300332, and it operates under the name Tianhao Environment[15]. - The company’s registered address is located at Fenglan International Center, No. 32, Xizhimen North Street, Haidian District, Beijing[15]. - The company’s international website is www.trce.com.cn, providing further information about its operations[15]. - The company’s contact email for investor relations is ir@trce.com.cn[16]. - The company’s financial report is available on the designated website of the China Securities Regulatory Commission[17]. - The company has multiple subsidiaries across various regions, indicating a broad operational footprint[12]. Financial Performance - Total revenue for the reporting period reached ¥634,903,820.59, an increase of 163.60% compared to the same period last year[19]. - Net profit attributable to ordinary shareholders decreased by 2.58% to ¥59,105,944.46, while the net profit after deducting non-recurring gains and losses dropped by 41.38% to ¥35,564,355.91[19]. - The net cash flow from operating activities improved significantly to ¥12,241,672.27, compared to a negative cash flow of ¥15,790,059.24 in the previous year[19]. - Total assets increased by 22.20% to ¥5,059,796,853.47 compared to the end of the previous year[19]. - The weighted average return on net assets decreased to 2.59%, down from 4.31% in the same period last year[19]. - The company reported a significant non-recurring gain of ¥21,801,645.14, primarily from the revaluation of previously held equity in Ningtou Company[21]. Revenue Breakdown - Revenue from the gas supply and pipeline transportation business was 478.44 million yuan, accounting for 75.36% of total operating revenue[39]. - Revenue from waste heat power generation contract energy management was 141.60 million yuan, a decrease of 5.05% year-on-year, contributing 22.30% to total operating revenue[40]. - Engineering construction and technical service revenue was 11.18 million yuan, down 87.20% year-on-year due to slower project progress[43]. Business Expansion and Strategy - The company plans to actively explore new businesses in energy conservation, environmental protection, and new energy sectors through both organic growth and acquisitions[30]. - The company is expanding its market presence in the gas supply sector through acquisitions of urban gas companies in Hebei and Shandong provinces[39]. - The company aims to enhance its competitive advantage in waste heat power generation and environmental management through integrated service offerings[43]. - The company is advancing several important R&D projects, including the Large Organic Rankine Cycle System and Supercritical CO2 Power Cycle, with progress in data collection, research, and technical solutions[61][62]. Risks and Challenges - The company faces risks related to its reliance on cooperative enterprises for its waste heat power generation business, particularly in high-energy-consuming industries[25]. - The company acknowledges potential risks associated with entering new industries, emphasizing the need for careful evaluation of investment risks and strengthening foundational capabilities[30]. - The company holds natural gas franchise rights, but is exposed to risks from potential government pricing policy changes that could impact its sales performance[71]. - The company has a high customer concentration in its gas supply business, particularly with three large alumina enterprises, which poses risks if demand declines due to macroeconomic factors[72]. Shareholder Information - The company distributed cash dividends of CNY 0.8 per share, totaling CNY 30.98 million, which is 22.05% of the net profit attributable to shareholders in 2015[83]. - The total number of shares increased from 387,189,529 to 774,379,058 after a capital reserve conversion, resulting in a 100% increase in share capital[134]. - The basic earnings per share decreased from 0.4125 to 0.2063 after the share capital increase, reflecting a 62.5% reduction[135]. - The total number of shareholders at the end of the reporting period is 24,205[140]. Financial Commitments and Compliance - The company has committed to achieving a net profit of no less than RMB 8 million for 2015, RMB 11 million for 2016, and RMB 18 million for 2017[113]. - The company has established strict guidelines to prevent any financial misconduct or misuse of funds during the profit commitment period[117]. - The company is under the supervision of the China Securities Regulatory Commission to ensure compliance with corporate governance standards[117]. Future Outlook - The company has outlined its future outlook, projecting a revenue target of 3 billion RMB for the full year 2016, which would require a further 15% growth in the second half[121]. - The company plans to enhance its digital marketing strategy, aiming for a 50% increase in online customer engagement by the end of 2016[121]. - The company is committed to investing 100 million RMB in research and development for innovative environmental solutions over the next three years[120].