Bossco(SZ:300422)2023-09-21 12:03Group 1: Company Overview and Changes - Guangxi Bosch Environmental Technology Co., Ltd. is the only environmental company listed on the Growth Enterprise Market in Guangxi, established in February 2015 [2] - In May 2023, the company underwent a change in control, with the major shareholder changing from Guangzhou Environmental Investment Group to Ningguo State-owned Capital Holding Group [2] - The new state-owned shareholders are expected to enhance the company's financial strength and facilitate resource integration [2] Group 2: Business Performance and Strategy - In the first half of 2023, the company secured industrial equipment supply orders worth 1.441 billion RMB, a year-on-year increase of 66.78%, with new overseas orders amounting to 1.174 billion RMB [3] - The total outstanding industrial equipment supply orders are approximately 2.559 billion RMB, including 1.805 billion RMB in overseas orders [3] - The company is focusing on high-quality orders in the industrial sector while expanding into battery recycling and new energy sanitation vehicles [3] Group 3: Investment Projects - The company plans to invest up to 1.038 billion RMB in two projects: a "Green Environmental Protection and Sanitation Equipment Production Line" and a "30,000 tons/year Waste Lithium Battery Resource Utilization Project" [3][5] - The waste lithium battery project is expected to start construction in 2024, with an initial investment of no more than 417 million RMB [6] Group 4: Financial Health and Future Outlook - The company has faced profit losses in recent years due to cash collection issues and significant impairment provisions, but it returned to profitability in the first half of 2023 [4] - The asset-liability ratio has exceeded 70%, and the company plans to self-finance its projects while exploring various financing channels to reduce this ratio [5] - The company aims to improve its operational performance and project implementation to enhance its corporate value and promote bond conversion [5] Group 5: Technological Innovation and Competitiveness - The company has established a core technology team led by an academician and focuses on continuous technological innovation in the environmental protection industry [3][4] - It has developed a core technology system for the comprehensive utilization of waste lithium batteries, enhancing recovery rates and product purity [6]