惠城环保(300779) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 134,889,784.39, a decrease of 18.37% compared to CNY 165,246,370.21 in the same period last year[26]. - The net profit attributable to shareholders was CNY 5,488,241.79, down 47.07% from CNY 10,368,499.93 year-on-year[26]. - The net profit after deducting non-recurring gains and losses was CNY 2,811,375.40, a decline of 68.64% compared to CNY 8,964,605.81 in the previous year[26]. - The net cash flow from operating activities was negative at CNY -56,452,939.17, a significant drop from CNY 2,013,031.76 in the same period last year, representing a decrease of 2,904.37%[26]. - Basic earnings per share were CNY 0.05, down 50.00% from CNY 0.10 in the previous year[26]. - The company reported total revenue of CNY 134.89 million for the first half of 2021, a decrease of 18.37% compared to the same period last year, which was CNY 165.25 million[58]. - The net profit attributable to shareholders was CNY 548.82 million, down 47.07% from CNY 1.04 million in the previous year[58]. - The company’s hazardous waste treatment service revenue decreased by 46.36% to CNY 13.14 million, with a gross margin of 25.79%[59]. - The company’s operating costs decreased by 16.41% to CNY 98.04 million, reflecting efforts to manage expenses amid declining revenues[59]. - The company’s research and development expenses decreased by 15.27% to CNY 9.47 million, indicating a strategic focus on cost management[63]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,117,706,567.03, an increase of 16.13% from CNY 962,485,059.01 at the end of the previous year[26]. - The net assets attributable to shareholders were CNY 661,468,567.82, a slight decrease of 0.67% from CNY 665,960,368.29 at the end of the previous year[26]. - Short-term loans increased to ¥54,900,000, representing a 4.91% increase due to project funding needs[70]. - Long-term loans reached ¥140,000,000, a 12.53% increase attributed to bank loans for new projects[70]. - Accounts receivable financing rose to ¥24,610,293.14, a 2.20% increase driven by an increase in receivable notes[70]. - The total amount of restricted assets at the end of the reporting period was ¥92,582,686.94, including cash and fixed assets[74]. - The company reported a cumulative investment income of ¥474,438.90 from financial assets during the reporting period[78]. - The company reported a decrease in other payables to ¥40,132,696.76, a 3.59% reduction due to payments for engineering projects[70]. Investment and Financing Activities - The total investment during the reporting period was ¥178,740,752.64, a 46.61% increase compared to the previous year[75]. - The company utilized ¥731.95 million of raised funds during the reporting period, with a cumulative total of ¥14,404.40 million used[79]. - The company plans to use up to CNY 90 million of idle raised funds to supplement working capital, with a usage period not exceeding 12 months[85]. - The company has completed the replacement of CNY 40 million of self-raised funds with raised funds for the projects[85]. - The company plans to issue convertible bonds to raise funds for the construction of a new project with a capacity of 40,000 tons/year for FCC catalyst new materials, which will enhance market competitiveness[107]. Operational Overview - The main business involves hazardous waste treatment services for the petrochemical industry, focusing on the recycling of waste catalysts[37]. - The company holds hazardous waste operation licenses from Shandong and Jiangxi provincial environmental authorities, enabling it to provide waste catalyst disposal services[38]. - The product line includes FCC catalysts, regenerated catalysts, and balance agents, which are tailored to meet diverse customer needs[39]. - The company emphasizes continuous innovation in hazardous waste resource utilization technology to enhance product value[45]. - The procurement strategy is based on a "production-driven" model, optimizing inventory and reducing storage risks[48]. - The company has established a robust R&D framework, focusing on independent development and collaboration with academic institutions[51]. - The core technical team possesses strong expertise in hazardous waste treatment and resource utilization, supporting new product development[51]. - The company’s sales model integrates waste treatment services with product sales, targeting long-term partners and potential clients[47]. - The company has implemented a comprehensive procurement control system to ensure quality and efficiency in raw material sourcing[48]. Market and Growth Strategy - The company is focusing on expanding its product portfolio, including FCC catalyst and solid waste recycling projects, to enhance market share and competitiveness[56]. - The company plans to strengthen its domestic and international market expansion and new business development to ensure sustainable growth[58]. - The company aims to stabilize existing markets while expanding into international markets, targeting major clients like Sinopec and CNOOC[101]. Environmental Compliance - The company emitted a total of 1.55 tons of particulate matter and 7.42 tons of sulfur dioxide in the reporting period, complying with local emission standards[19]. - The average emission concentration for nitrogen oxides was 10.5 mg/m³, also meeting the required standards[19]. - The company generated 9.20 tons of COD and 3.14 tons of SS from wastewater treatment, adhering to the relevant discharge standards[23]. - The company has a valid pollutant discharge permit effective until December 25, 2022[26]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[127]. - The company has implemented an annual environmental monitoring plan in 2020[129]. - The company continues to enhance its environmental protection management and safety production responsibilities[170]. Shareholder Information - The total number of shares before the change was 100,000,000, with 30.85% being restricted shares and 69.15% being unrestricted shares[179]. - The number of restricted shares decreased by 736,116, resulting in a total of 30,115,696 restricted shares, which is 30.12% of the total[179]. - The number of unrestricted shares increased by 736,116, leading to a total of 69,884,304 unrestricted shares, which is 69.88% of the total[179]. - The total number of shareholders at the end of the reporting period was 9,601[184]. - Zhang Xinguo holds 17,060,250 shares, representing 17.06% of the total shares, with 4,500,000 shares pledged[186]. - Daobojiamei Limited holds 12,174,450 shares, representing 12.17% of the total shares[186]. - Qingdao Huicheng Xinde Investment Co., Ltd. holds 10,828,500 shares, representing 10.83% of the total shares, with 2,200,000 shares pledged[186]. - The total number of restricted shares at the end of the period was 30,115,696[183]. - The number of shares released from restriction during the period was 740,766[183]. - The top 10 unrestricted shareholders include Shandong High-tech Venture Capital Co., Ltd. with 3,472,500 shares, accounting for the largest stake[192]. - The second largest shareholder is Zhong Jiangbo, holding 1,700,000 shares, representing approximately 4.9% of total shares[192]. Corporate Governance - There were no changes in the board of directors, supervisors, or senior management during the reporting period[2]. - The company reported no implementation of stock incentive plans or employee stock ownership plans during the reporting period[4]. - The company did not engage in any repurchase agreements during the reporting period[193]. - There were no changes in the shareholding of directors, supervisors, and senior management during the reporting period[194]. - The controlling shareholder and actual controller remained unchanged during the reporting period[195]. - The company has not engaged in any major related party transactions during the reporting period[145]. - The company has not reported any penalties or rectification measures during the reporting period[144]. Risk Management - The company faces operational risks and has outlined measures to mitigate these risks in the management discussion section[6]. - The company is addressing risks related to management and internal controls as it expands its operations[106]. - The company has not encountered any significant risks related to contract performance during the reporting period[162].