Anhui Chaoyue Environmental Protection Technology Co.Ltd(301049) (301409. SZ) released the performance forecast for the first fiscal year after listing on January 8, 2022, saying that the net profit attributable to the shareholders of the listed company is expected to be 80 million yuan to 100 million yuan in 2021, a decrease of 43.49% – 29.37% over the same period of the previous year.
The reporter of economic information daily noted that Anhui Chaoyue Environmental Protection Technology Co.Ltd(301049) in August 2021, it was predicted in the prospectus that the net profit attributable to the parent company would be 157-181 million yuan in 2021. The company’s lowered performance forecast is related to the fact that the company’s disassembly business and hazard disposal business do not meet expectations during the period.
Anhui Chaoyue Environmental Protection Technology Co.Ltd(301049) its main business is the disposal of industrial hazardous waste and medical waste and the disassembly of waste household appliances. The service objects of the company’s hazardous waste disposal business are mainly chemical industry, electronics and non-ferrous metal smelting, which may fluctuate periodically under the influence of macro-economy. When the economy is prosperous, the capacity utilization rate of industrial enterprises will increase, the output will increase, and the amount of hazardous waste will generally increase; During the economic recession, the capacity utilization rate of industrial enterprises decreases, the output decreases, and the amount of hazardous waste generated decreases accordingly. The fluctuation of the quantity of hazardous wastes produced by upstream customers directly affects the company’s business volume and market bargaining power, and then makes the company’s operating performance fluctuate or even decline.
Anhui Chaoyue Environmental Protection Technology Co.Ltd(301049) once said in the prospectus that it is expected that the achievable operating income range from January to December 2021 Anhui Chaoyue Environmental Protection Technology Co.Ltd(301049) will be 372512600 yuan to 426932100 yuan, with a year-on-year increase of 21.12% – 38.82%; It is estimated that the net profit attributable to the shareholders of the parent company from January to December 2021 will be RMB 156646200-180.6985 million, with a year-on-year increase of 10.64% – 27.63%; After deducting non recurring profits and losses, the net profit attributable to shareholders of the parent company ranged from 142.1339 million yuan to 163.3935 million yuan, with a year-on-year increase of 7.61% – 23.71%.
For the lowered performance forecast, Anhui Chaoyue Environmental Protection Technology Co.Ltd(301049) said that it was mainly affected by the following factors: first, the company comprehensively upgraded the household appliance disassembly production line this year. Affected by the commissioning process of the production line, the operation of the disassembly production line was delayed, which affected the disassembly business income by about 12 million yuan; Affected by the reduction of the subsidy standard of the household appliance dismantling fund, the subsidy income of the fund decreased by about 4 million yuan from January to December 2021. In the fourth quarter, affected by the rise of commodity prices, the supply and price of e-waste in the market were greatly affected, the dismantling volume did not meet the expectation, and due to the changes in the relationship between market supply and demand, The impact of the reduction of the fund subsidy standard on the company’s performance has not been transmitted to the upstream and has been effectively digested. Up to now, the household appliance disassembly production line has entered the normal production and operation state and reached the expected technical transformation goal; Second, there are differences between the annual hazard disposal business predicted by the early performance and the actual operation. First, the original implementation process was terminated due to the temporary adjustment of the customer’s internal approval process; Secondly, affected by market competition, the disposal price of hazardous waste business decreased slightly, and some emergency disposal businesses failed to be realized, resulting in that the hazardous waste disposal business was less than expected. The total impact of the above factors on the income of hazardous waste disposal business was about 70 million yuan. The company will strengthen the construction of business team and improve business development ability in the future to ensure the stable development of business.
However, Anhui Chaoyue Environmental Protection Technology Co.Ltd(301049) performance decline has long been a sign. Anhui Chaoyue Environmental Protection Technology Co.Ltd(301049) in the prospectus in August 2021, it is estimated that the operating revenue from January to September 2021 will reach 201.5913 million yuan to 22.0273 million yuan, with a year-on-year increase of – 6.52% to 2.03%; The net profit attributable to the parent company can reach 94.2748 million yuan to 105.8638 million yuan, with a year-on-year increase of – 6.16% to 5.38%. In fact, in the first three quarters of 2021, Anhui Chaoyue Environmental Protection Technology Co.Ltd(301049) realized a net profit attributable to the parent company of 71.1318 million yuan, a year-on-year decrease of 29.20%, far lower than the previously expected net profit level.
Anhui Chaoyue Environmental Protection Technology Co.Ltd(301049) said that the board of directors of the company apologized to the majority of investors for the inconvenience caused by the revision of business forecast. The company will analyze the reasons for the correction of the business forecast and carefully draw lessons from experience.
(source: economic reference network)
