Everbright Environment (00257) rose more than 6%. As of press release, it rose 6.29% to HK$3.21, with a turnover of HK$606.79 million.
The Zhitong Finance App learned that Everbright Environment (00257) rose by more than 6%. As of press release, it had risen 6.29% to HK$3.21, with a turnover of HK$606.67,900.
According to the news, CITIC Securities pointed out that Everbright Environmental's revenue structure continued to be optimized, which further increased the company's profitability, driving last year's gross margin and net interest rate to rise to 43% and 13.8%, respectively. The bank also indicated that although there has been a marked slowdown in the development of the environmental protection industry, Everbright Environment has made gains in market development. Last year, it invested a total of 40 new projects and 2 supplementary agreements for existing projects, with a total investment amount of 4.816 billion yuan.
According to Dongwu Securities, the actual net operating cash flow of the company after restoration in 2023 was about HK$7.5 billion, and capital expenditure was about HK$7.8 billion. The difference between the two narrowed sharply year on year, and free cash flow showed a marked positive improvement trend. The company set up an accounts receivable management team to strengthen assessments and take more measures to improve the level of accounts receivable repayment. The processing fee repayment situation improved sequentially in the second half of 2023. The bank expects net operating cash flow to rise in line with the growth of operating revenue. In 2024, the company's construction scale and capital expenditure will continue to decline, and free cash flow will reach a positive point.