Core Viewpoint - The company has faced significant financial challenges over the past three years, with a continuous decline in revenue and net profit, but recent restructuring efforts and favorable industry policies may provide a pathway for recovery and growth. Financial Performance - The company reported revenues of 738 million, 195 million, and -1.292 billion from 2021 to 2023, with net profits attributable to shareholders of -1.519 billion, -1.292 billion, and -1.398 billion respectively [1] - The company’s financial statements for 2023 received a standard unqualified audit report, indicating improved financial health compared to previous years [1] Business Operations - The company has restructured its operations, focusing on soil remediation services while divesting from ecological water-saving and landscaping services [2][7] - The soil remediation service operates under various models, including EPC (Engineering Procurement Construction), PC (Procurement Construction), and RCM (Risk Control and Management) [2][3] Market Environment - The soil remediation industry is supported by national policies aimed at ecological protection and sustainable development, which are expected to drive growth in the sector [9][12] - The market for soil remediation projects is projected to be substantial, with an estimated 12.61 billion in project funding and 262 projects reported in 2023 [14] Competitive Position - The company has established a strong research and development foundation, with over 130 patents and collaborations with prestigious institutions, enhancing its competitive edge in the environmental services sector [5][22] - The company has successfully completed numerous large-scale environmental remediation projects across various regions, demonstrating its operational capabilities [6] Restructuring and Recovery - The company has completed a judicial restructuring process, which has alleviated significant debt burdens and improved its financial structure, with a debt-to-asset ratio reduced to 39.96% [28][29] - Following the restructuring, the company has resumed normal operations and is actively pursuing new projects, with a backlog of orders valued at over 80 million for soil remediation services [16][17] Future Outlook - The company anticipates that the favorable policies in the real estate sector will positively impact its soil remediation business, with expected revenue and profit margins to improve [17] - The company is also exploring new business avenues in hazardous waste resource utilization, which could contribute additional revenue streams [18][29]