BHWI(SZ:000605)2022-08-28 16:00Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥874.26 million, representing a 0.62% increase compared to ¥868.86 million in the same period last year[19]. - The net profit attributable to shareholders decreased by 21.37% to ¥15.70 million from ¥19.97 million year-on-year[19]. - The net profit after deducting non-recurring gains and losses was ¥10.65 million, a significant increase of 555.54% compared to a loss of ¥2.34 million in the previous year[19]. - The net cash flow from operating activities increased by 4.40% to ¥61.99 million from ¥59.38 million in the same period last year[19]. - The company's basic earnings per share decreased by 21.38% to ¥0.0445 from ¥0.0566 year-on-year[19]. - The company's operating revenue for the current period is CNY 874,256,870.05, representing a year-on-year increase of 0.62% compared to CNY 868,856,172.70 from the previous year[31]. - The cost of sales increased by 6.22% to CNY 684,366,900.92 from CNY 644,320,072.77 in the previous year[31]. - The company's management expenses decreased by 19.76% to CNY 70,408,493.63 from CNY 87,746,086.36 in the previous year[31]. - Research and development investment decreased by 44.29% to CNY 4,131,498.71 from CNY 7,415,665.38 in the previous year[32]. - The company reported a significant increase in financing activities, with net cash flow from financing activities rising by 52.22% to CNY 54,079,304.07 from CNY 35,527,197.19 in the previous year[32]. - The revenue from the heating segment surged by 42.47% to CNY 380,391,281.52, compared to CNY 267,001,992.33 in the previous year[33]. - The revenue from environmental governance dropped by 34.76% to CNY 108,033,426.39 from CNY 165,584,347.86 in the previous year[33]. - The company reported a total revenue of 6,964 million yuan, representing a 38.07% increase compared to the previous period[79]. - The company reported a total revenue of 6,619.01 million for the first half of 2022, representing a significant increase compared to previous periods[92]. - The total operating revenue for the first half of 2022 was CNY 874,256,870.05, a slight increase from CNY 868,856,172.70 in the same period of 2021, representing a growth of approximately 0.5%[125]. - The total operating costs decreased to CNY 854,461,418.67 from CNY 884,791,772.03, marking a reduction of about 3.4%[126]. - The net profit for the first half of 2022 was CNY 26,827,389.97, compared to CNY 25,335,150.35 in the first half of 2021, indicating an increase of approximately 5.9%[126]. - The company's total assets as of June 30, 2022, amounted to CNY 3,262,031,772.14, up from CNY 3,176,045,370.16 at the beginning of the year, reflecting a growth of about 2.7%[123]. - The total liabilities decreased to CNY 1,036,190,590.26 from CNY 941,239,186.01, showing an increase of approximately 10.1%[123]. - The long-term borrowings increased to CNY 617,428,133.00 from CNY 422,937,587.00, representing a significant rise of about 46%[122]. Environmental Compliance - The company reported a total COD discharge of 11,159 kg against a permitted limit of 29,200 kg, indicating compliance with pollution discharge standards[57]. - Ammonia nitrogen discharge was recorded at 0.27 mg/L, significantly below the regulatory limit of 24.40 kg, demonstrating effective wastewater management[57]. - The company achieved a total of 6,210 kg of COD discharge at a facility, with a regulatory limit of 45,625 kg, reflecting adherence to environmental standards[58]. - The ammonia nitrogen concentration at another facility was 0.73 mg/L, well within the permissible limit of 300 kg, showcasing the company's commitment to environmental compliance[58]. - The company has a hazardous waste disposal rate of 60%, indicating a proactive approach to waste management[58]. - The company operates under the GB18918-2002 Class A standard for wastewater treatment, ensuring high-quality effluent discharge[58]. - The company has implemented new technologies to enhance wastewater treatment efficiency, contributing to improved environmental performance[58]. - The company has not been listed as a key pollutant discharge unit by environmental authorities, but several subsidiaries are classified as such[60]. - The company has implemented manual and automatic monitoring methods for environmental self-monitoring[63]. - There were no administrative penalties due to environmental issues during the reporting period[64]. Investment and Expansion Plans - The company plans to enhance its investment project risk evaluation and control mechanisms to mitigate uncertainties in new business areas[49]. - The company is actively pursuing mergers and acquisitions to strengthen its position in the environmental management industry[58]. - The company plans to invest in new facilities to increase wastewater treatment capacity, aiming for a 20% increase in processing capabilities by 2024[58]. - The company is exploring potential mergers and acquisitions to accelerate growth and market expansion[141]. - The company plans to expand its market presence through new product development and technological advancements in the water industry[146]. - The company aims to enhance its operational efficiency and customer satisfaction through strategic initiatives and market expansion[146]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[4]. - The company does not plan to distribute cash dividends or issue bonus shares for the half-year period[54]. - The total number of shareholders at the end of the reporting period was 21,050[103]. - Tianjin Xingjin Enterprise Management Co., Ltd. holds 22.46% of the shares, totaling 79,200,321 shares[103]. - Tianjin Water Group Co., Ltd. holds 13.01% of the shares, totaling 45,868,731 shares[103]. - Li Huaqing holds 5.68% of the shares, totaling 20,019,883 shares, with 15,014,912 shares under lock-up[103]. - The shareholding structure includes significant holdings by state-owned entities, with the top three shareholders being state-owned[103]. - The company has a total of 337,643,688 unlimited sale shares after the recent change[100]. - Limited sale shares decreased from 15,464,917 to 15,014,912, a reduction of 450,005 shares, representing a change from 4.39% to 4.26%[100]. - Unlimited sale shares increased from 337,193,683 to 337,643,688, an increase of 450,005 shares, representing a change from 95.61% to 95.74%[100]. Financial Reporting and Compliance - The semi-annual financial report has not been audited[69]. - The financial report was approved by the board on August 26, 2022, ensuring compliance with accounting standards[151]. - The financial statements are prepared based on the continuous operation assumption, reflecting the company's financial status accurately[155]. - The company adheres to the accounting policies set forth by the Ministry of Finance of the People's Republic of China, ensuring transparency and accuracy in financial reporting[155]. Related Party Transactions - The company reported a total of 34,931,000 RMB in related party transactions for water fee procurement, accounting for 100% of similar transactions[72]. - The company engaged in related party transactions for electricity procurement amounting to 272,000 RMB, representing 2.28% of similar transactions[73]. - The company recorded 1,655,000 RMB in related party transactions for fuel procurement, which is 100% of similar transactions[73]. - The company reported 526,700 RMB in related party transactions for water fee sales, accounting for 2.88% of similar transactions[73]. - The company had related party transactions for water fee sales amounting to 967,500 RMB, representing 5.29% of similar transactions[73]. - The company engaged in related party transactions for water fee procurement totaling 115,600 RMB, which is 48.43% of similar transactions[73]. - The company reported related party transactions for water fee sales amounting to 571,400 RMB[73]. - The company had related party transactions for electricity procurement totaling 9,000 RMB, representing 3.12% of similar transactions[73]. - The company has not exceeded the approved transaction amounts in any of the reported related party transactions[72]. - The company disclosed all related party transactions in accordance with regulatory requirements[72]. Risk Factors - The company is facing industry policy risks due to high dependence on national macroeconomic policies, which could impact market expansion[47]. - The company reported a significant reliance on its established operational advantages to maintain market share amid increasing competition[48]. - The company has not identified any significant doubts regarding its ability to continue as a going concern for the next 12 months[154]. Asset Management - The total assets at the end of the reporting period were approximately ¥7.67 billion, down 1.62% from ¥7.80 billion at the end of the previous year[19]. - The company's total assets include CNY 442,231,784.43 in cash, representing 5.77% of total assets, an increase from 5.42% in the previous year[36]. - The company's long-term equity investments increased to CNY 899,641,910.09, accounting for 11.73% of total assets, up from 11.37% in the previous year[36]. - The company's current assets totaled CNY 2,400,580,928.65, down from CNY 2,535,453,911.71 at the beginning of the year, indicating a decrease of about 5.32%[117]. - The company's total assets at the end of the reporting period amounted to CNY 9,186 million, an increase of 26.02% compared to the previous year[145]. - The equity attributable to shareholders was reported at 2,234 million yuan, reflecting a growth of 71.81% year-on-year[145]. - The total liabilities at the end of the reporting period were 291 million RMB, which is a 7.53% increase from the previous year[140].