GreenTech Environmental (SH:688466)2025-04-25 10:00Financial Performance - The company achieved operating revenue of CNY 617.11 million in 2024, a year-on-year increase of 7.74%[25]. - Net profit attributable to shareholders was CNY 66.79 million, a decrease of 5.62% compared to the previous year[29]. - The net cash flow from operating activities was CNY 95.18 million, down 13.27% from CNY 109.74 million in 2023[30]. - Basic earnings per share decreased to CNY 0.55, down 5.17% from CNY 0.58 in the previous year[27]. - The weighted average return on equity fell to 5.75%, a decrease of 0.63 percentage points from 6.38%[27]. - Revenue from water treatment technology solutions was CNY 33.69 million, accounting for 54.60% of total revenue, down 10.94% year-on-year[28]. - Revenue from long-term operation and maintenance services and wastewater resource utilization products increased by 43.90%, totaling CNY 27.90 million, representing 45.20% of total revenue[28]. - The company's total assets increased by 8.59% to CNY 2.30 billion compared to CNY 2.12 billion at the end of 2023[25]. - The proportion of R&D investment to operating revenue decreased to 4.78%, down 0.90 percentage points from the previous year[27]. - The company's To G business revenue grew by 78.09% to CNY 46.45 million, while To B business revenue decreased by 51.38% to CNY 15.14 million[28]. Dividend and Profit Distribution - The company distributed a total cash dividend of RMB 50,083,202.32 (including tax) for the first three quarters of 2024, approved at the third extraordinary general meeting of shareholders in 2024[7]. - The company plans not to distribute profits for the 2024 fiscal year, meaning no cash dividends, no bonus shares, and no capital reserve conversion into shares[7]. - The company announced a shareholder return plan, distributing cash dividends of RMB 4.10 per 10 shares, totaling RMB 100,166,404.64 over two years[85]. Audit and Compliance - The company has received a standard unqualified audit report from Da Xin Certified Public Accountants[6]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not reported any violations in decision-making procedures regarding external guarantees[9]. - The company confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[5]. Technological Innovations - The company has developed the GTMOST® membrane universal platform technology, which addresses the interchangeability of membrane elements and reduces construction and operational costs for water treatment plants[14]. - The company has introduced the "Water Radish® AI" intelligent system, integrating multiple self-developed AI models for process optimization and fault diagnosis, enhancing operational efficiency[14]. - The company is involved in various technological innovations, including membrane anti-pollution technology and resource recovery technology from concentrated liquid[15]. - The company has developed the "Water Radish® AI" system, which includes multiple AI models for process optimization, fault diagnosis, and automated operations, enhancing operational efficiency[45]. - The company has established a comprehensive AI-driven online inspection system to monitor water treatment facilities, replacing traditional manual inspections[45]. - The company has developed the Crysacter crystallization softening technology, reducing chemical costs by 30%-50% and solid waste generation by 20%-30%[80]. - The company has developed an AI algorithm model for optimizing dual membrane processes, which includes a unique "environmental body + decision body" neural network structure to improve operational efficiency[175]. Product Development - The company launched the third generation of its product, New Water Island® 1.0, in March 2023, and plans to release New Water Island® 2.0 in July 2024[15]. - The New Water Island® product features an innovative drinking water deep treatment technology that enhances coagulation effects and achieves stable water quality and quantity, reducing investment and operational costs[15]. - The new Shuidao® product has been recognized as a leading innovation by being included in the "Beijing Innovation Product Directory" after passing rigorous evaluations[62]. - The company launched the new Water Island 2.0 product, which features a modular design divided into 12 functional modules, enhancing efficiency in production, transportation, and commissioning[183]. - The new Water Island 2.0 product allows for factory-scale production, with pre-commissioning and acceptance testing, significantly reducing manufacturing costs and improving price competitiveness[183]. Market Strategy and Expansion - The company is focused on expanding its market presence and enhancing operational support through its AI-driven service platform, Water Radish®[15]. - The company is actively expanding its overseas strategy, signing agreements with Vatek Environmental Technologies in Turkey and PT GAPURA LIQUA SOLUTIONS in Indonesia to promote Shuidao® products in international markets[68]. - The company aims to address critical issues such as water resource shortages and environmental capacity through its high-quality water solutions for industrial enterprises and urban areas[15]. - The company anticipates continued growth in the water treatment sector, driven by increasing demand for sustainable water solutions[40]. Environmental and Regulatory Compliance - The company has been awarded a wastewater resource utilization project in Changzhou, expected to save over 10 million tons of water annually, supporting the "waste-free city" initiative[73]. - The implementation of the national standard for zero discharge technology in industrial circulating cooling water is expected to promote environmental management and standardization in the industry, addressing the 40%-50% wastewater discharge from enterprises[140]. - The government plans to allocate approximately 300 billion yuan in special long-term bonds to support large-scale equipment updates and the replacement of consumer goods[132]. - The introduction of tax incentives for energy-saving and environmental protection equipment aims to stimulate the smart transformation of enterprises[132]. Research and Development - The company has applied for 11 invention patents during the reporting period, with a total of 120 patents held, including 41 Chinese invention patents[79]. - Total R&D investment decreased by 9.41% year-on-year, amounting to CNY 2,948.60 million compared to CNY 3,255.01 million in the previous year[196]. - The company is conducting application research on a new technology for reverse osmosis membrane pollution control, with an expected total investment of CNY 341.00 million and a current investment of CNY 19.03 million[195]. - The company is exploring the feasibility of using activated carbon in concentrated saline water treatment, with a current investment of CNY 11.43 million out of a total of CNY 175.00 million[197]. Operational Efficiency - The company aims to reduce overall water costs while improving water quality and reliability through automation and AI technologies[41]. - The company has established a new Shuidao® intelligent equipment production base to meet product delivery demands, significantly shortening construction and delivery cycles[65]. - The company has implemented large-scale applications of nanofiltration membrane technology, with projects capable of processing 200,000 tons/day of micro-polluted surface water, leading the industry[158]. - The company has transitioned from a conventional smart water management platform to an intelligent agent system for water plant operations, enabling users to interact via text or voice for task management[178].