Qingdao Huicheng Environmental Technology Group (300779.SZ) announced the 2024 interim report. In the first half of 2024, the company achieved a total operating revenue of 594 million yuan, a year-on-year increase of 17.49%; the total profit was 32.0197 million yuan, a year-on-year decrease of 63.77%; the net profit attributable to the shareholders of the parent company was 34.9581 million yuan, a year-on-year decrease of 59.37%; the net profit attributed to the shareholders of the listed company after deducting non-recurring gains and losses was 30.8273 million yuan, a year-on-year decrease of 63.62%; the basic earnings per share was 0.18 yuan.
During the reporting period, the company's operating income increased year-on-year. The main reason was that the company actively opened up the market, and catalyst sales and revenue increased significantly. At the same time, with the operation of new projects, steam income and residual membrane recovery business income also increased. However, due to the fierce competition in the catalyst industry, the unit price of catalyst sales and the unit price of waste catalyst disposal continued to decrease year-on-year, and the profit margin was continuously compressed; at the same time, with the gradual operation of new projects, production and operation expenses such as depreciation expenses and labor costs increased year-on-year, and the impact of shutdown maintenance caused the project profit level to decrease year-on-year. In addition, the company continues to develop new projects, and project reserve personnel costs, management and other expenses have increased. The project benefits have not been fully realized, resulting in a large increase in the company's overall costs and expenses, and a large decrease in net profit compared with the same period last year.