Financial Performance - For the six months ended June 30, 2023, the group's revenue was approximately RMB 970.78 million, an increase of 11.79% compared to the same period last year[2]. - For the same period, the net profit attributable to equity shareholders was approximately RMB 200.02 million, a decrease of 19.70% year-on-year[2]. - Basic earnings per share for the six months ended June 30, 2023, was RMB 0.11[2]. - Gross profit for the period was RMB 486.36 million, compared to RMB 490.55 million in the previous year[4]. - Operating profit for the period was RMB 299.20 million, down from RMB 349.74 million year-on-year[4]. - Total revenue for the six months ended June 30, 2023, was RMB 970,784 thousand, a decrease of 6.0% compared to RMB 1,033,437 thousand for the same period in 2022[14]. - The company reported a pre-tax profit of RMB 49,670 thousand for the six months ended June 30, 2023, compared to RMB 43,386 thousand for the same period in 2022, an increase of 14.0%[18]. - The pre-tax profit for the first half of 2023 was RMB 251.73 million, a decrease of 19.37% from RMB 312.21 million in the previous year[44]. - The company recognized a profit of RMB 2,200,000 from joint ventures for the six months ended June 30, 2023, down from RMB 5,862,000 for the same period in 2022, indicating a decrease of 62.5%[23]. Dividends and Shareholder Returns - The board of directors resolved not to declare an interim dividend for the six months ended June 30, 2023[2]. - The company has not declared or paid any interim dividends for the six months ending June 30, 2023[29]. - The company has not declared an interim dividend for the six months ending June 30, 2023[81]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 7,513.17 million, compared to RMB 7,217.07 million as of December 31, 2022[9]. - The company's equity attributable to shareholders was RMB 2,928.93 million as of June 30, 2023, up from RMB 2,728.91 million at the end of 2022[9]. - The total liabilities of the group were RMB 5,298.15 million, an increase of 2.90% from the previous year[56]. - The group's current ratio was 0.72, up from 0.67 at the end of the previous year, indicating improved liquidity[58]. - As of the reporting period end, the group's current liabilities net value was RMB 557.83 million, a decrease of RMB 101.75 million compared to the end of last year, mainly due to increased trade and other receivables from new operating projects[59]. Revenue Sources - Revenue from industrial solid waste and hazardous waste disposal services was RMB 868,437 thousand for the six months ended June 30, 2023, compared to RMB 925,173 thousand for the same period in 2022, reflecting a decline of 6.1%[14]. - The industrial hazardous waste disposal service generated revenue of RMB 631.66 million, reflecting an 8.55% increase year-on-year[45]. - The general hazardous waste segment achieved revenue of RMB 549.65 million, up 10.62% compared to the previous year, driven by new project contributions[45]. - The revenue from oil sludge disposal was RMB 40.29 million, a decrease of 27.07% year-on-year due to reduced production capacity from equipment upgrades[46]. - The revenue from fly ash disposal reached RMB 41.71 million, an increase of 40.13% year-on-year, primarily driven by the launch of the All Pepper fly ash project and rapid growth in the Wuhu project[46]. - The revenue from industrial solid waste disposal services was RMB 293.52 million, an increase of 2.43% year-on-year, mainly from projects in Chao Lake and Shaoguan[46]. Operational Capacity and Projects - The company processed approximately 546,100 tons of industrial hazardous waste in the reporting period, representing a year-on-year growth of about 34%[34]. - The company successfully signed contracts for three fly ash projects in Henan, Hunan, and Sichuan, with a total capacity of 300,000 tons per year during the reporting period[32]. - The company has established 66 environmental protection projects across 19 provinces, with a processing capacity of approximately 7.3167 million tons per year[31]. - The company processed approximately 1,036,200 tons of industrial solid waste in the reporting period, marking a year-on-year increase of about 15%[36]. - The group has a total hazardous waste disposal capacity of 4,466,500 tons per year, with actual hazardous waste processing capacity at 3,069,600 tons per year[38]. - The group is currently constructing a project in Shaanxi with a planned capacity of 200,000 tons per year, expected to be completed by April 2024[38]. - The group has operational projects for fly ash washing with a total capacity of 399,500 tons per year, including ongoing projects in Anhui and Hunan[39]. - The group is expanding its hazardous waste disposal capabilities with new projects in various provinces, including Guangdong and Shaanxi[38]. - The company is currently constructing projects with a total processing capacity of 62.7 million tons per year, expected to be completed by 2024[42]. Financial Management and Expenses - The company's financial expenses for the period were RMB 49.67 million, compared to RMB 43.39 million in the previous year[4]. - Interest expenses on loans and borrowings increased to RMB 75,772 thousand for the six months ended June 30, 2023, compared to RMB 63,947 thousand for the same period in 2022, an increase of 18.5%[18]. - The provision for income tax in China for the six months ended June 30, 2023, was RMB 29,935,000, down from RMB 34,128,000 in the same period of 2022, indicating a decrease of 12.8%[20]. - The total employee compensation during the reporting period was approximately RMB 170.51 million, an increase from RMB 138.30 million as of June 30, 2022[76]. Strategic Focus and Future Plans - The company continues to focus on enhancing its solid and hazardous waste disposal solutions as its primary business strategy[15]. - The company aims to enhance operational efficiency and achieve high-quality development in 2023, focusing on policy opportunities and promoting research and innovation[77]. - The company plans to actively expand its alternative fuel business, leveraging green development and "dual carbon" goals to capture new industry opportunities[78]. - The company intends to strengthen its core competitive advantages in hazardous waste and oil sludge disposal, exploring project acquisitions and mergers to improve market coverage[78]. - The company will accelerate the technical research and verification of resource comprehensive utilization projects, including waste salt and waste acid, to achieve breakthroughs[79]. - The company aims to enhance market control by establishing good relationships with large environmental enterprises and conducting thorough market research[79]. - The company plans to optimize production organization and improve operational efficiency by refining the entire process from order receipt to disposal[79]. Employee and Governance - The employee count as of the reporting period was 3,515, down from 3,686 as of December 31, 2022[76]. - The company is implementing a comprehensive incentive system to motivate employees towards career advancement and enhance work enthusiasm[75]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ending June 30, 2023, and had no objections to the accounting treatment adopted by the company[83]. Miscellaneous - The company has no income tax liabilities in the Cayman Islands and British Virgin Islands, which may impact its overall tax strategy[21]. - The group faced foreign exchange risks primarily from payables denominated in foreign currencies, but most assets and transactions were denominated in RMB, mitigating significant foreign exchange risk[69]. - There have been no significant events affecting the group that require disclosure since the reporting period[84].
海螺环保(00587) - 2023 - 中期业绩