Beiqing Huanneng (000803): Annual Net Profit Increased By 66.18% - 143.73%

Beiqing Huanneng (000803. SZ) announced that the net profit attributable to shareholders of Listed Companies in 2021 is expected to be 75-110 million yuan, with a year-on-year increase of 66.18% - 143.73%; After deducting the non recurring profit and loss, the net profit was 75 million yuan – 110 million yuan, with a year-on-year increase of 550.56% - 854.15%.

During the reporting period, the company actively responded to national policies and focused on the overall strategic development plan of kitchen organic waste treatment and waste edible oil resource utilization. The main reasons for the increase of net profit attributable to shareholders of Listed Companies in 2021 are as follows:

1. During the reporting period, the company's wholly-owned subsidiary, Beikong, won the bid for the equipment procurement (the first batch) project of Yueyang kitchen waste treatment project phase I project, and the social capital bidding procurement project of Xiangtan kitchen waste recycling utilization PPP project, bringing growth to the company's income and profits.

2. In February 2021, Beikong signed an agreement to acquire the equity of Taiyuan Tianrun bioenergy CO., Ltd., and incorporated Taiyuan Tianrun into the scope of consolidated statements in July. After the completion of technical transformation of Taiyuan Tianrun bioenergy CO., Ltd., the production capacity has increased, bringing growth to the company's performance scale and profits.

3. Benefited from the increase of renewable energy demand in the "double carbon" era, the price of waste edible oil of kitchen waste recycling products increased during the reporting period, which improved the company's profitability.