Core Viewpoint - Sanfeng Environment reported a steady growth in revenue and net profit for the year 2024, highlighting its strong position in the waste management industry and ongoing international expansion efforts [1][2] Financial Performance - The company achieved an operating revenue of 5.991 billion yuan and a net profit attributable to shareholders of 1.168 billion yuan, with a year-on-year growth of 0.30% in revenue and 7.08% in net profit after excluding one-time factors from 2023 and 2024 [1] - Basic earnings per share were reported at 0.7 yuan, with a proposed cash dividend of 2.45 yuan per 10 shares (tax included) [1] Operational Highlights - Sanfeng Environment operates 54 waste incineration projects, with steady increases in total waste processed, total power generation, grid-connected electricity, and steam sales [1] - The average power generation from waste processed reached 428.8 kWh/ton, with an average plant electricity consumption rate of 11.99% [1] - The company processed approximately 226,200 tons of kitchen waste, marking an 88.33% year-on-year increase, and treated about 132,100 tons of sludge, a 13.09% increase [1] Strategic Development - The company is advancing a dual-market development strategy focusing on both domestic and international markets, aiming to deepen its core waste incineration business and expand its industrial chain [1] - In the international market, a new international division has been established to leverage core technologies and collaborate with multinational companies, successfully signing contracts for projects in India, Thailand, and Vietnam, with a total contract value exceeding 800 million yuan [2] Research and Innovation - Sanfeng Environment is actively promoting an AI smart incineration system for municipal waste, with ongoing upgrades to existing projects, aiming for full smart incineration coverage by 2025 [2] - The company launched the "Spark Plan" during its technology innovation conference, focusing on collaboration in research, standard setting, talent development, smart incineration, and low carbon emissions [2] - A Green Development Innovation Research Institute was established to enhance the company's research capabilities in environmental protection and waste management [2]