Jiangsu Zhongsheng Gaoke Environmental Co.Ltd(002778) (002778)
The company operated well in the first three quarters and its profitability improved significantly
In the first three quarters of 2021, the company operated well, the operating revenue and net profit attributable to the parent company increased, and the profit indicators such as gross profit margin and net profit margin improved significantly
The first three quarters operated well, and the net profit attributable to the parent increased significantly year-on-year
In the first three quarters, the company's revenue increased by 5.5% year-on-year, and the net profit attributable to the parent increased by 55.2% year-on-year. Q1 – Q3 company achieved an operating revenue of 670 million yuan in 2021, an increase of 5.5% year-on-year compared with 635 million yuan in the same period in 2020; The net profit attributable to the parent company was 63 million yuan, a year-on-year increase of 55.2%. The main reason is that Jiangsu Zhongsheng environmental remediation Co., Ltd. acquired by the company was in good operation in the first three quarters and contributed a large amount of income to the stability of the company since its consolidation in April 2020. In the single quarter of Q3 in 2021, the company realized an operating revenue of 205 million yuan, a year-on-year decrease of 20.0% compared with 256 million yuan in Q3 in 2020; The net profit attributable to the parent company was 18 million yuan, a year-on-year decrease of 31.0% compared with 25 million yuan in the same period in 2020. In 2020, affected by the black swan of covid-19 epidemic, the backlog of orders in the first half of the same year was released after the gradual resumption of work and production in the third quarter, resulting in a relatively high performance of the company in the third quarter of 2020.
Gross profit margin and net profit margin increased significantly, and profitability increased steadily. In the first three quarters of 2021, the company achieved a comprehensive gross profit margin of 24.6%, an increase of 4.6 percentage points compared with 20.0% in the same period in 2020; The net interest rate was 12.9%, an increase of 4.1% over the same period in 2020. It can be seen that the profitability of the company has been greatly improved after the acquisition of Zhongsheng environment.
In terms of different business segments, the largest contribution to revenue is still the lubricating oil production and sales business, but the ecological restoration and environmental governance business is growing rapidly. In recent years, due to the slowdown in the development of the lubricating oil industry, the growth of the company's business income in the industry is under pressure, but it is still the basic plate and contributes to stable income. According to the company's semi annual report of 2021, the company achieved an operating income of 213 million yuan in the first half of 2021, accounting for 45.8% of the total revenue; In the first half of 2021, the environmental protection industry realized an operating revenue of 204 million yuan, accounting for 43.81% of the total revenue, with a year-on-year increase of 24.73%.
The action plan for reaching the carbon peak by 2030 was issued, emphasizing the importance of ecological restoration
On October 24, 2021, the State Council issued the action plan for carbon peak by 2030 (hereinafter referred to as the "action plan"), which clearly pointed out to strengthen China's ecological restoration and construction projects and consolidate and enhance the carbon sink capacity of the ecosystem
The action plan clearly strengthens the carbon sink capacity of the ecosystem and once again reflects the importance of ecological restoration
Strengthen the construction of ecological restoration, give full play to the carbon sink capacity of the ecosystem, and achieve the carbon peak by 2030. "Carbon sink", as the opposite of "carbon source", refers to the capacity of forests to absorb and store carbon dioxide, which is of great significance to the goal of "reaching the carbon peak by 2030". The "action plan" points out that "promote the integrated protection and restoration of mountains, rivers, forests, fields, lakes, grass and sand, improve the quality and stability of the ecosystem, enhance the increment of ecosystem carbon sequestration" and "implement major projects of ecological protection and restoration", so as to further enhance the importance of ecological restoration projects.
Ecological protection focuses on comprehensive management, paying more attention to the cross domain management ability of environmental management suppliers. Pollution control needs to respect the process of natural evolution, change the treatment mode of segmentation and classification in the past, fully consider the circular logic of pollution in the four plates of water, gas, solid waste and soil, carry out multi plate comprehensive treatment, and achieve a lasting victory from ecological restoration to the final ecological civilization. In the future, the environmental protection industry will also take comprehensive treatment as the main development trend, which also means that environmental treatment service providers should have comprehensive treatment ability across the four fields of "water, gas, solid waste and soil" in order to maintain long-term and sustainable competitiveness.
The project of "ecological conservation area" was continuously promoted, and the company gave full play to its comprehensive management ability
The Ecological Conservation Development Experimental Zone is an important step in building "Taihu Lake Ecological Island". At present, as a safety buffer zone of the Ecological Conservation Development Experimental Zone, some projects are under construction, and the contribution of the subsidiary Zhongsheng environment is growing steadily with its strong comprehensive management ability
The construction of ecological conservation development experimental area has been steadily promoted, and the implementation effect of phase I project is remarkable
Xiaoxia Bay Wetland ecological security buffer zone is an "ecological conservation" ecological security buffer zone, which is an important part of Suzhou Ecological Conservation Development Experimental Zone. The Xiaoxia Bay Wetland ecological security buffer zone project in Suzhou ecological conservation and Development Experimental Zone consists of three phases. The construction period is from July 2020 to December 2023, with a total investment of about 320 million and a total area of about 18 square kilometers. The main construction contents include four areas: 10000 mu good farmland treatment area, Nanwan village treatment area, Taihu Lake Bay supplement area and ethereal Chawan core area, A total of 210 hectares of scientific and technological wetlands and shoal wetlands will be constructed, and the project will be implemented in three phases.
Phase I project is located in xiaoxiawan area, Shigong village, Jinting Town, Wuzhong District, and adopts the overall idea of "source control + ecological purification → multi-functional utilization". Through the construction of enhanced vertical flow wetland (2.6 hectares), rain and fog interception wetland (0.4 hectares), shallow discussion wetland (12.5 hectares) and clear water reuse corridor (1km), a three-way interception system of non-point source pollution is formed to control all kinds of rural non-point source pollution in the area of about 4km2 from huangjiapu to Nanwan, improve the regional ecological environment and form "Xiaoxia Bay ecological purification wetland" garden.
The demonstration significance of phase I project is prominent, and the company will achieve substantial income growth with excellent comprehensive environmental governance ability. After the completion of phase I project, it is expected to reduce 0.87 tons of total phosphorus and 8.7 tons of total nitrogen discharged into Taihu Lake every year. Focusing on the completed part of the current project, the improvement is obvious. The project not only has demonstration significance for the treatment of non-point source pollution around Taihu Lake and the construction of ecological security buffer zone, but also reflects the integrated, systematic and comprehensive treatment of "landscape, forest, field, lake and grass". As a "regional environmental comprehensive treatment service provider", the project will not only reflect the company's systematic and comprehensive environmental treatment strength, but also bring substantial income growth to the company.
