Dynagreen(601330)2024-09-03 10:32Group 1: Financial Performance - The company's cash collection ratio and net cash ratio have improved due to changes in revenue structure, with operational income increasing [1] - Accounts receivable have increased primarily due to growth in operational income, inclusion of projects in national subsidy lists, and extended settlement cycles [1][2] - The national subsidy settlement situation for the first half of the year is better than last year, but there is uncertainty for the full year [2] Group 2: Operational Metrics - The company's electricity generation and heating supply have improved, but operational gross profit margin has experienced fluctuations due to rising fuel costs and increased maintenance expenses [2] - The company's competitive bidding electricity price ranges from 0.55 to 0.60 CNY/kWh, with variations among different projects [2] - The overall capacity utilization rate for the first half of 2024 is approximately 95%, with a more than 10% year-on-year increase in waste processing volume [2] Group 3: Future Plans and Strategies - The company plans to gradually increase cash dividends, with a proposed distribution of at least 40%, 45%, and 50% of distributable profits for the years 2024, 2025, and 2026, respectively [3] - The company is considering optimizing its debt structure and actively seeking quality acquisition targets in the waste incineration power generation industry [3] - The company is monitoring overseas market opportunities, noting significant differences in business models and policy environments compared to domestic markets [3]