QJBIOCH(SH:600796)2023-09-25 02:11Group 1: Company Overview - Qianjiang Biochemical was established in 1970, originally as Haining Pesticide Factory, and became a joint-stock company in 1993. It was listed on the Shanghai Stock Exchange in April 1997, becoming the first listed state-owned enterprise in northern Zhejiang [3]. - In 2021, the company successfully completed a major asset restructuring with Haining Water Group, expanding its main business from biopesticides and thermal power to include water services, solid waste, and engineering, forming three major business segments: ecological environment, biopesticides, and water operations [3]. - As of the first half of 2023, the company reported total assets of CNY 6.487 billion and net assets of CNY 3.390 billion, with operating income of CNY 867 million, a year-on-year decrease of 1.36%, while net profit attributable to shareholders increased by 6.85% to CNY 84 million [3]. Group 2: Future Development Directions - The company aims to focus on ecological environmental protection and biopesticides as its primary development directions over the next three years, with the water services segment being more stable and aimed at optimization [4]. - Plans include strengthening the ecological environment sector through acquisitions and enhancing biopesticide revenue through innovations in fermentation technology [4]. Group 3: Production and Capacity Utilization - The current production capacity utilization for biopesticides is nearly full, while the wastewater treatment capacity utilization exceeds 90%. The company is considering new projects to expand wastewater treatment capacity due to increasing demand [5]. - The company is also planning to build new industrial water treatment facilities in response to the growing needs in the Jian Shan New Area [6]. Group 4: Revenue Composition and Financial Performance - The revenue composition of Haining Green Dynamic Haiyun Company includes approximately 30% from wastewater treatment and supply, 20% from engineering installation, 3% from material sales, 20% from solid and hazardous waste transportation and disposal, and 10% from urban cleaning and kitchen waste treatment [6]. - The company secured a comprehensive sanitation project in Haining City, generating an annual income of CNY 120 million over 20 years [6].