香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不會就本公告全部或任何部份內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CHINA EVERBRIGHT ENVIRONMENT GROUP LIMITED 中國光大環境（集團）有限公司 （於香港註冊成立之有限公司） （股份代號：257） 截至二零二三年十二月三十一日止年度 全年業績公告 財務摘要 • 收益為港幣32,090,207,000元（二零二二年：港幣37,321,229,000元），較去年下降 14% • 除利息、稅項、折舊及攤銷前盈利為港幣12,827,961,000元（二零二二年：港幣 12,841,787,000元），與去年相比保持穩定 • 權益持有人應佔盈利為港幣4,429,160,000元（二零二二年：港幣4,601,939,000元）， 較去年下降4% ...

Investment Rating - The report gives a "Buy" rating to the company [5] Core Viewpoints - The company is expected to see marginal improvements in 2024, with a valuation inflection point approaching [4] - The company is a leader in waste-to-energy and a comprehensive platform with multiple business layouts [4] - The company is transitioning from a phase of new project additions to an operational cash flow generation phase [4] - The company's income, asset, and liability structures are continuously optimizing, with free cash flow expected to turn positive in 2024 [4] - The company is a high-value investment target in the absolute return track [5] Company Overview - The company is the largest waste-to-energy operator in China and globally, with a daily waste incineration capacity of 130,100 tons as of the end of 2023 [4] - The company focuses on three major areas: solid waste, water, and clean energy [4] - The company has a strong technological foundation, with 1,778 authorized patents as of the first half of 2023 [20] Business Segments Environmental Energy - The company has a daily waste incineration capacity of 130,100 tons, ranking first in the industry [4] - 51.7% of the capacity is located in third- and fourth-tier cities and county markets as of the end of 2023 [4] - The segment contributed 56.0% of the company's revenue and 67.1% of gross profit in the first half of 2023 [4] Environmental Water - The company's wastewater treatment volume and price have both increased, with a compound growth rate of 8.3% from 2017 to 2022 [4] - The average treatment price increased from 1.23 RMB/ton in 2017 to 1.71 RMB/ton in 2022 [4] Green Environmental Protection - As of the first half of 2023, the company has 51 biomass comprehensive utilization projects in operation [4] - The transformation to heating has provided a good supplement to cash flow [4] Financial Performance - The company's operating income exceeded construction income for the first time in 2022 [4] - The proportion of operating income increased to 56.9% in the first half of 2023 [4] - The company's free cash flow is expected to turn positive in 2024 [4] - The company's net profit attributable to the parent company is expected to be 4.037 billion, 4.053 billion, and 4.134 billion HKD in 2023, 2024, and 2025, respectively [5] Valuation and Dividends - The company's PE ratio is 4.73x, 4.71x, and 4.62x for 2023, 2024, and 2025, respectively [5] - The company's dividend yield is 7.72% as of March 21, 2024, higher than industry peers [5]

THIRTY YEARS OF ENDEAVOR twenty years of green progress 卅年奮進 廿載築綠 Interim Report 中 期 報告 2023 the most RELIABLE BRAND in the GREEN WORLD 金 色 品 牌 綠 色 事 業 Interim Report 中 期 報 告 2023 Contents 目錄 Corporate Information 公司資料 2 Financial Highlights 財務概況 4 Business Review and Prospects 業務回顧與展望 5 Management Discussion and Analysis 管理層討論與分析 49 Disclosure of Interests 披露權益資料 67 Corporate Governance 企業管治 72 Other Information 其他資料 77 Interim Financial Report 中期財務報告 79 Notes to Consolidated Financial Statements 綜合財務報表附註 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CHINA EVERBRIGHT ENVIRONMENT GROUP LIMITED 中國光大環境（集團）有限公司 （於香港註冊成立之有限公司） （股份代號：257） 截至二零二三年六月三十日止六個月 中期業績公告 摘要 • 收益為港幣16,297,167,000元（二零二二年：港幣21,448,683,000元），較去年 同期減少24% • 除利息、稅項、折舊及攤銷前盈利為港幣7,376,488,000元（二零二二年：港幣 7,047,794,000元），較去年同期增加5% • 除稅前盈利為港幣4,505,649,000元（二零二二年：港幣4,326,092,000元），較 去年同期增加4% • 本 公 司 權 益 持 有 人 應 佔 盈 利 為 港 幣2,784,923,000元（二 零 二 二 年：港 幣 2,811,148,000元），較去年同期減少1% ...

(Stock Code 股份代號: 257) Annual Report 年報 Corporate Profile 公司簡介 China Everbright Environment Group Limited (“Everbright 中國光大環境（集團）有限公司（「光大環境」 Environment” or the “Company”) is a flagship enterprise of 或「本公司」）為其控股股東中國光大集團 China Everbright Group Ltd. in the industrial sector. Everbright 股份公司在實業領域的旗艦企業及於香港聯 Environment is listed on the Main Board of The Stock Exchange 合交易所有限公司（「聯交所」）主板上市企 of Hong Kong Limited (the “Stock Exchange”) (257.HK). Since 業（257.HK）。自二零零三年轉型環保領域 shifting its business focus to the enviro ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不會就本公告全部 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CHINA EVERBRIGHT ENVIRONMENT GROUP LIMITED 中國光大環境（集團）有限公司 （在香港註冊成立之有限公司） （股份代號：257） 截至二零二二年十二月三十一日止年度 全年業績公告 財務摘要 • 收益為港幣37,321,229,000元（二零二一年：港幣49,895,384,000元），較去年 下降25% • 除利息、稅項、折舊及攤銷前盈利為港幣12,841,787,000元（二零二一年： 港幣15,027,003,000元），較去年下降15% • 權益持有人應佔盈利為港幣4,601,939,000元（二零二一年：港幣6,804,099,000元）， 較去年下降32% ...