Works**: Environmental Protection Circle.
Author: Fu Bowang clan.
In late January, it was time for listed companies to release their annual performance forecasts.
"Environmental Protection Circle" counted the 2023 performance forecasts released by 77 environmental protection listed companies, and found that 36 net profit attributable to the parent company increased year-on-year, accounting for 4675%；There were 41 companies with a year-on-year decline in net profit attributable to the parent company, accounting for 5325%。That is to say,In the past year, more than half of the listed environmental protection companies have seen a decline in net profits. This figure is basically consistent with the results of the sample survey conducted by industry associations. According to a report released by the Guangdong Environmental Protection Industry Association, in 2023, 57 environmental protection enterprises were sampled0% said operating profit was lower than the same period last year. The performance forecast for 2023 reveals 3 signals:First,Annual performance comparisonThe year has improved dramatically; Second, after the "Xiaoyangchun" of the semi-annual report and the ** of the third quarterly report, the fourth quarter has basically stabilized; Third, compared with many other industries, the environmental protection industry is quite good.
"Bad times" environmental protection enterprisesIt accounts for about half of the entire industry
First of all, it is important to be clear that not all listed companies are required to issue earnings forecasts. The performance forecast is more of an early warning mechanism in the capital market to protect small and medium-sized investors. According to the relevant requirements, enterprises with large changes in performance (such as turning losses into profits, and losses of more than 50%) must issue performance forecasts, and the release time must be before January 31 of the following year of the reporting period. Before January 31 this year, about 77 companies in the environmental protection industry issued performance forecasts (which may be omitted). This figure accounts for about one-third of the total number of listed environmental protection companies. Although the coverage is not complete, from the performance forecasts of these 77 environmental protection listed companies, the trend of the entire environmental protection industry in 2023 can be more or less observed. According to the statistics of the "environmental protection circle", among the 77 environmental protection listed companies, 36 of the net profit attributable to the parent increased year-on-year, accounting for 4675%；There were 41 companies with a year-on-year decline in net profit attributable to the parent company, accounting for 5325%。At the same time, the net profit attributable to the parent company is negative, and there are 40 companies, accounting for about 5195%。In other words, in the past year, about half of the net profits of environmental protection listed companies have declined. This figure is basically consistent with the results of the sample survey of relevant industry associations. Not long ago, the Guangdong Provincial Environmental Protection Industry Association and the Energy Conservation and Environmental Protection Industry Research Institute of the Guangdong Provincial Environmental Protection Association released the "Analysis Report on the Operation Situation of the Environmental Protection Industry in Guangdong Province in the Fourth Quarter and the Whole Year of 2023". It shows that in the fourth quarter, 50 of the sampled environmental protection enterprises0% of corporate revenues fell year-on-year, 570% of corporate profits fell year-on-year. For the whole of 2023, 53 of the sampled environmental protection enterprises will be selected0% of environmental protection companies said that their annual revenue decreased year-on-yearof environmental companies said operating profit was down from the same period last year. Year-on-year changes in the operating income of environmental protection enterprises in 2023. **Guangdong Environmental Protection Industry Association
Whether it is the statistics of performance forecasts or the sample survey results of the environmental protection industry in Guangdong Province, it shows that more than half of the net profits of environmental protection enterprises will decline in 2023. That is to say,years, "not good" environmental protection enterprises, accounting for about half of the entire industry.
2023 has improved significantly compared to 2022Basically stabilized in the fourth quarter
What does the 2023 earnings forecast numbers say? First of all,Annual performance comparisonThe year has improved dramatically; I don't know if you remember? In February 2023, "Environmental Protection Circle" also issued an article to count the performance forecast of environmental protection listed companies in 2022, and the title of the article at that time wasThe Worst Year in History! Seventy percent of the net profit of environmental protection enterprises declined, and Oriental Garden suffered huge losses100 million
years, the net profit of the decline of environmental protection enterprises, thanNearly 20% more than a year.
From 70 in 20225%, to 53 in 202325%, although half of the companies will still have a decline in net profit in 2023, this figure has been significantly reduced compared to 2022. In any case, in 2023, the environmental protection industry as a whole has come out of the "extraordinary state" under the epidemic prevention and control in 2022 and gradually returned to normal. Zhuojin Environmental Protection also said in the performance forecastDuring the reporting period (With the gradual recovery of the social and economic order, the company's backlog of orders in hand has been implemented normally, and the overall operating income has been significantly repaired. Secondly, I have experienced a semi-annual reportAfter the "Xiaoyangchun" and the third quarterly report, the fourth quarter has basically stabilized. In 2023, the environmental protection industry will come out of an "inverted V" curve. In the first quarterly report and semi-annual report, the entire industry ushered in a wave of "small spring". Taking the semi-annual report as an example, only 48 companies with a decline in net profit are available54%, compared to 705% is reduced by more than two percent. However, in the third quarter, this figure appeared again**. The proportion of companies with declining net profit rose to 5307%, which is 4 percentage points more than the semi-annual report. At that time, some analysts said that the "Xiaoyangchun" in the first quarter and the first half of the year was mainly due to the "inventory" of the epidemic for three years, which was released all at once because of the end of the control policy. However, with the release of the stock, the environmental protection market has been "beaten back to its original shape". So, in the fourth quarter, will the environmental protection industry continue to decline, or will it gain a firm foothold? The earnings announcement gave a positive signal. The performance forecast shows that in the whole year of 2023, the proportion of enterprises with a decline in net profit attributable to the parent company is about 5325%, this figure and the time of the third quarterly report (53.).07%). That is to say,In the fourth quarter, although the performance of environmental protection enterprises is still at a low level, fortunately, the decline has not been further expanded, and the proportion of enterprises with a decline in net profit attributable to the parent company remains at about half. This may mean,The environmental protection industry is gradually"Bottoming", situationAlthoughIt's not getting better, but at least it's not getting worse.
There is still a lot to be done in the environmental protection industry"There will be a lot of opportunities
In fact, the recession of the environmental protection industry in 2023 is not an exception in the context of the downturn in the social and economic situation. Horizontal comparison with other industries, taking the steel industry as an exampleAmong the steel companies that have disclosed their performance forecasts, there areThe home has a loss, and the profit is onlyHome, much worse than the environmental protection industry. There is also the well-known real estate industryHomeaAmong the listed real estate companies, onlyThe net profit of the family increased, more than 60% of the pre-loss, and the highest pre-loss of individual enterprises100 million yuan. The volume of 9 billion yuan, put into the environmental protection industry, is equivalent to a head environmental protection company. After all, the real estate industry is a big industry, and a loss can make a loss to a leading environmental protection company. In fact, compared with other industries, the environmental protection industry is really not the worst. Hu Yanguo, Deputy Secretary of the Party Committee and Vice President of Everbright Environment, said that the expectations of various industries this year are not good, and Everbright Environment's parent company, Everbright Group, is a comprehensive enterprise with a number of businesses such as finance, insurance, tourism and pension. Some time ago, they had a meeting together for training, and Hu Yanguo found out"They are much worse than us, and some are more miserable than us. ”"So here today, we are very happy, we have a basic industry, we have a basic cash flow, we are still alive, we have the opportunity to live, we can innovate and surpass. Hu Yanguo said. A sample survey by the Guangdong Environmental Protection Industry Association also showed thatIn the context of the country's top-to-bottom acceleration of the construction of a beautiful China, the sampled environmental protection enterprises have always had confidence in developmentof enterprises in their segmentsFull-year revenue will be flat or increase year-on-year. After all, the environmental protection industry is still a green industry strongly supported by national policies. Not long ago, the blockbuster document in the field of ecology and environment, "Opinions of the Communist Party of China on Comprehensively Promoting the Construction of Beautiful China", has just been released. *CCTV.com
On January 10, at the "Sixth Environmental Protection CEO Circle Sharing Meeting" hosted by IE Expo China, Ling Jinming, general manager of Gaoneng Environment, saidChina has, after allWith a population of 100 million and the world's largest manufacturing country, the market demand is still potential, and the environmental protection industry is still promising.
Li Yao, president of WELLE Group, also believes that if the environmental protection industry is defined in the narrow sense of "pollution control", the environmental protection market is indeed getting smaller and smaller; ButIf environmental protection is put in a broad senseThere are still a lot of opportunities in the concept of "sustainable development".
Pollution control is only the first step, and there are still a lot of things that can be done around carbon peaking and carbon neutrality and energy conservation. There are many opportunities for regrouping of different technologies, or extended applications in other areas, and the space and capacity of the entire market are completely different. He said. In the view of Wang Penghari, chairman of Peng Harrier Environmental Protection,"There will be a lot of opportunitiesThe carbon emissions of sewage treatment plants alone account for the total carbon emissions of the whole societyThe transportation sector accounts for a high proportion of carbon emissionsThe market space in this is trillion-level, and the imagination space is very broad. Qingda Environmental Protection also said in the performance forecast,Benefiting from a series of favorable policies such as the acceleration of national investment in new thermal power plants and the impact of a series of favorable policies, the market demand of the company's traditional main products continued to increase, which promoted the stable growth of the company's operating performance. According to statistics, from January to September 2023, China's new installed capacity of thermal power will be 3944GW, up 67% year-on-year19%, and the scale of new installed thermal power capacity maintained high growth. From the perspective of the approved volume, the total approved coal-fired power capacity in the first half of 2023 has far exceeded the total approved capacity in 2021, which is expected to bring incremental demand for thermal power equipment. P.Senvironmental protection listed companiesAnnual performance forecast collation (cut-offyearsmonthday).