According to the Zhitong Finance App, China Environmental Technology (00646) announced its 2023 results, with revenue of HK$15.721 million, a year-on-year decrease of 59.06%; loss attributable to company owners was HK$43.63 million, up 72.54% year on year; loss per share was 19.49 HK cents.
2023 is the first year that control of epidemic prevention measures has been fully liberalized. The number of new water contract orders received by the group during this year has increased significantly compared to 2022. Some orders have already been implemented this year, and the rest will be implemented next year. The overall development trend has improved significantly compared to 2022. Although this year's revenue decreased by about 59% compared to 2022, gross margin increased 6.07 percentage points from the previous year to 41.51%, and the overall loss increased compared to the previous year. The environmental protection business subsidiary insisted on technological innovation and applied the new technology to obtain two water service orders during this year, thereby broadening the scope of business, enhancing market competitiveness, and applying for new patents for the new technology from the State Intellectual Property Office. During this year, the Group continued to pay attention to and study environmental solid waste treatment business and opportunities in areas related to carbon neutrality.