巨亏超80% 圣元环保股价迎考

Core Viewpoint - Shengyuan Environmental Protection faced significant losses from a private equity product, with a loss amounting to approximately 46.92 million yuan, leading to regulatory scrutiny and a pressure test on its stock price [1][2][5]. Group 1: Incident Overview - Shengyuan Environmental's wholly-owned subsidiary, Xiamen Jinlingji Construction Engineering Co., Ltd., subscribed to a private equity product that reported a cumulative net value growth rate of -81.54% [2][5]. - Following the announcement of the losses, the Xiamen Securities Regulatory Bureau and the Shenzhen Stock Exchange issued warnings and regulatory letters to Shengyuan Environmental and its key personnel [3][4]. - The company’s chairman and general manager committed to compensating for the investment loss, while the company reported that the fund manager had engaged in illegal activities, including unauthorized trading and falsifying net value information [4][5]. Group 2: Financial Performance - Shengyuan Environmental's revenue has been declining in recent years, with reported revenues of approximately 17.52 billion yuan in 2022, 17.48 billion yuan in 2023, and an estimated 15.82 billion yuan in 2024 [6][7]. - The company achieved a peak revenue of approximately 23.33 billion yuan in 2021, with a net profit of about 4.8 billion yuan [7]. - For the first three quarters of the current year, the company reported revenues of approximately 1.15 billion yuan, a year-on-year decrease of 0.67%, while net profit increased by 43.22% to approximately 211 million yuan [8]. Group 3: Operational Metrics - The company’s waste incineration power generation business reported a decrease in garbage intake by 2.26% and a decline in power generation by 0.81% during the reporting period [8]. - As of the end of the third quarter, Shengyuan Environmental had total assets of 8.781 billion yuan and total liabilities of 4.905 billion yuan, resulting in a debt-to-asset ratio of 55.85% [8].