Grandblue Environment (SH:600323)2021-08-12 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥4,551,022,685.73, representing a year-on-year increase of 45.11% compared to ¥3,136,354,596.60 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was ¥627,008,890.81, which is a 36.02% increase from ¥460,979,418.18 in the previous year[17]. - The net cash flow from operating activities was ¥1,074,424,586.48, showing a significant increase of 94.55% compared to ¥552,269,735.27 in the same period last year[17]. - Basic earnings per share for the first half of 2021 were ¥0.80, up 33.33% from ¥0.60 in the same period last year[20]. - The company reported a net profit of ¥707,379,637.95 for the first half of 2021, compared to ¥477,108,535.01 in the same period of 2020, indicating a year-over-year increase of 48.2%[163]. - The net profit after deducting non-recurring gains and losses for the first half of the year was RMB 608,763,366.15, representing a 34.90% increase compared to the same period last year[137]. - The total profit for the first half of 2021 was approximately ¥761.71 million, compared to ¥566.13 million in the same period of 2020, showing an increase of 34.5%[171]. - The company's tax expenses for the first half of 2021 were approximately ¥133.27 million, up from ¥109.14 million in the same period of 2020, which is an increase of 22.1%[171]. Revenue Breakdown - The main business revenue reached 4.467 billion RMB, with a year-on-year increase of 45.12%, accounting for 98.16% of total revenue[35]. - The solid waste treatment business generated 2.404 billion RMB in revenue, contributing 53.81% to the main business revenue, with a year-on-year growth of 44.25%[36]. - The energy business reported a revenue of 1.397 billion RMB, accounting for 31.28% of main business revenue, with a significant year-on-year increase of 71.21%[40]. - The drainage business achieved a revenue of 208 million RMB in the first half of the year, accounting for 4.66% of the company's total revenue, with a year-on-year growth of 7.06%[41]. Asset and Liability Management - The total assets at the end of the reporting period were ¥27,478,563,363.03, an increase of 10.23% from ¥24,928,910,550.35 at the end of the previous year[19]. - Cash and cash equivalents at the end of the period amounted to ¥183,362.16 million, representing 6.67% of total assets, an increase of 80.27% compared to the previous year[54]. - Accounts receivable increased to ¥157,788.52 million, accounting for 5.74% of total assets, reflecting a growth of 53.54% year-on-year due to increased revenue and delayed government settlements[54]. - The total liabilities increased to ¥8,606,754,710.40 as of June 30, 2021, compared to ¥8,009,428,820.43 at the end of 2020, reflecting a growth of 7.4%[163]. - The asset-liability ratio decreased to 65.28% from 67.22%, a reduction of 1.94 percentage points[137]. Operational Challenges - The company faced challenges with new projects' capacity utilization, which impacted profitability, particularly in organic waste treatment and industrial hazardous waste projects[22]. - The increase in operating revenue was partly due to the recovery from the COVID-19 pandemic, which had previously affected the capacity utilization of various business segments[21]. - The ongoing COVID-19 pandemic continues to pose operational risks, prompting the company to strengthen its emergency management and response capabilities[79]. Strategic Initiatives - The company is implementing a "14th Five-Year" strategic plan focusing on expanding solid waste treatment and enhancing operational efficiency[34]. - The company aims to build a comprehensive ecological environment service industry chain, enhancing its competitive advantage in the market[29]. - The company has initiated a digital management system to improve operational efficiency and management levels[33]. Environmental and Compliance Efforts - The company has implemented a comprehensive flue gas treatment process including SNCR, semi-dry desulfurization, and activated carbon adsorption, ensuring good operational status of pollution control facilities[88]. - The company has established a self-monitoring plan for pollution discharge, which is publicly disclosed to monitor environmental impact[93]. - The company has successfully passed environmental impact assessments for all projects and received relevant approvals[91]. - The company does not belong to the key pollutant discharge units as per environmental protection department, with total emissions of 3.628 tons of particulate matter, 29.076 tons of SO2, and 304.855 tons of NOx[87]. Financial Structure and Investments - The company’s long-term equity investment balance increased by ¥49,164.56 million, a growth of 5.9% compared to the beginning of the year, primarily due to capital injection into subsidiaries[58]. - The company executed new leasing standards, resulting in the recognition of right-of-use assets amounting to ¥10,323.76 million[54]. - The company successfully issued RMB 992.32 million of convertible bonds in April 2020, with a 6-year term and listed on the Shanghai Stock Exchange[139]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 35,133[115]. - The number of shares before the change was 766,699,884, and after the issuance of new shares, it increased to 815,347,146[114]. - The top shareholder, Foshan Nanhai Water Supply Group Co., Ltd., holds 139,810,227 shares[117].