维尔利(300190) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,586,011,726.56, representing a 23.28% increase compared to CNY 1,286,491,954.16 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 19.57% to CNY 131,168,653.86 from CNY 163,087,547.63 in the previous year[20]. - Basic earnings per share decreased by 19.05% to CNY 0.17 from CNY 0.21 in the same period last year[20]. - The diluted earnings per share also decreased by 15.79% to CNY 0.16 from CNY 0.19 in the previous year[20]. - The weighted average return on net assets was 3.02%, down from 4.10% in the same period last year[20]. - The net profit for the first half of 2021 was CNY 128.53 million, a decrease of 21.4% compared to CNY 163.45 million in the same period of 2020[200]. - The total profit amounted to CNY 142.85 million, down 26.0% from CNY 193.13 million year-on-year[200]. - Operating profit decreased to CNY 134.79 million, a decline of 30.6% from CNY 194.14 million in the previous year[200]. - The company reported a tax expense of CNY 14.32 million, which is a reduction of 51.8% compared to CNY 29.68 million in the prior year[200]. - The net profit attributable to the parent company was CNY 131.17 million, down 19.6% from CNY 163.09 million in the same period last year[200]. Cash Flow and Assets - The net cash flow from operating activities improved by 28.63%, reaching CNY -111,716,179.38, compared to CNY -156,526,647.42 in the same period last year[20]. - The total assets at the end of the reporting period were CNY 10,146,315,225.94, an increase of 3.40% from CNY 9,813,021,924.24 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 1.18% to CNY 4,325,826,004.49 from CNY 4,275,201,748.98 at the end of the previous year[20]. - Cash and cash equivalents increased to CNY 806.51 million from 754.22 million at the end of last year[190]. - Accounts receivable rose to CNY 2,050.74 million, up from 1,747.07 million at the end of last year[190]. - The company's long-term debt stands at 850.76 million, an increase from 781.32 million at the end of last year[192]. - The total liabilities amount to 5,689.02 million, compared to 5,403.71 million at the end of last year[192]. Research and Development - The company increased its R&D expenditure by 52.59% compared to the previous year, focusing on solid waste disposal technologies[39]. - Research and development expenses for the first half of 2021 were CNY 58,159,957.32, up 52.6% from CNY 38,115,550.01, highlighting a commitment to innovation[198]. - The company is focusing on enhancing its R&D capabilities and exploring market expansion opportunities to drive future growth[200]. Environmental Initiatives - The company focuses on "urban and rural organic waste resource utilization" and "industrial energy conservation and environmental protection" as its main business areas[27]. - The company has established a strong position in the leachate treatment market, with a projected demand for leachate treatment reaching RMB 47.88 billion from 2019 to 2025[31]. - The company has developed the EMBT technology for resourceful and harmless treatment of kitchen waste, with successful projects already operational[33]. - The company reported a total of 0.24 tons of COD emissions, which is within the annual limit of 13.2 tons[108]. - The company’s ammonia nitrogen emissions were recorded at 0.09 tons, significantly below the annual limit of 3.3 tons[108]. - The company’s total nitrogen emissions were 0.16 tons, well within the annual limit of 5.28 tons[108]. - The company’s total phosphorus emissions were 0.003 tons, far below the annual limit of 0.396 tons[108]. - The company’s sulfur dioxide emissions were 6.53 tons, which is below the annual limit of 78.456 tons[109]. - The company’s nitrogen oxides emissions were recorded at 20.90 tons, well within the annual limit of 0.21 tons[109]. - The company’s particulate matter emissions were 0.54 tons, significantly below the annual limit of 29.26 tons[109]. Business Strategy and Market Position - The company is actively exploring new business areas, including industrial wastewater treatment and low-concentration gas catalytic oxidation, to expand its market presence[37]. - The company is leveraging carbon neutrality policies to develop carbon asset projects, aiming to enhance project profitability[40]. - The company has implemented a digital transformation strategy to optimize business processes and improve management efficiency[41]. - The company is committed to continuous innovation and digital transformation to enhance its service offerings and market competitiveness[27]. - The company is focusing on expanding its market presence through various new projects and technologies, aiming for sustainable growth in the environmental sector[81]. - The company anticipates continued growth in the second half of 2021, driven by increased demand for its environmental services and products[149]. Shareholder and Financial Management - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has strengthened its management oversight of subsidiaries to enhance operational standards and mitigate financial risks[42]. - The company emphasizes shareholder rights protection by adhering to legal regulations and facilitating shareholder participation in meetings[116]. - The company has maintained a stable credit rating of AA- for its convertible bonds, with a stable outlook[183]. - The company reported a total revenue of 12,392.03 million for the first half of 2021, showing a significant increase compared to 8,966.82 million in the same period of 2020, representing a growth of approximately 38.5%[148]. Risks and Challenges - The company faced increased competition in the environmental protection industry, prompting a focus on technological innovation and collaboration with large state-owned enterprises to maintain competitive advantages[96]. - The company highlighted risks related to high accounts receivable balances, emphasizing the need for improved management and collection processes to mitigate potential cash flow issues[98]. - The company aims to enhance its financial management and risk control in light of potential financial risks associated with mergers and acquisitions[97].