Orient Landscape(SZ:002310)2022-12-06 23:58Group 1: PPP Projects - The government typically incurs financing costs slightly above the bank's benchmark interest rate, and there are annual limits on government bond issuance, necessitating alternative financing methods [3] - In the strict sponge city PPP project sector, the company is considered an industry leader, while less stringent projects face significant competition from various sectors including landscaping, environmental protection, and construction [4] Group 2: Project Receivables - The company has a rigorous project selection process, requiring approval from the risk control committee, which has led to strong receivables from traditional projects due to the good credit of government partners [3] - As of 2015, the company reported good receivables from old projects, and it is expected that this trend will continue in 2016 due to strict adherence to risk control processes [3] Group 3: Project Settlement - Approximately 70% of project payments are settled during the construction phase, with the remaining 30% settled after project completion, depending on government progress [4] - The settlement process has been expedited due to the company's control over the SPV (Special Purpose Vehicle) used for project settlements [3] Group 4: Industrial Hazardous Waste Business - The company holds licenses for three types of hazardous waste management, generating profits of around 200 million annually, with pricing varying by region and waste type [4] - The company’s technological and management capabilities are highlighted as its greatest strengths in the hazardous waste sector [4] Group 5: Profit Distribution - The company plans to complete profit distribution by July 19, 2016, with prior announcements made 3-5 working days in advance [5]