The general trend of governance of the waste is stimulated by the environmental protection.

Written: Teng Xiao

Editor: Editorial Department of Cai Caixun

Since its listing on July 25, a few days ago, the "first share" Chuhuan Technology has handed over the first "transcript" since logging in to the A -share market.

According to the latest 2022 interim reported by Chuhuan Technology, its operating income in the first half of 2022, 260 million yuan and 37 million yuan in net profit attributable to the parent company. Both indicators increased by 26.42%and 16.26%compared with the same period last year.

The continuous growth performance not only brought the basic earnings per share of Chuhuan Technology in the first half of 2022, from 0.57 yuan in the same period last year to 61 million yuan, but also expanded the company's net assets to the shareholders of the parent company to 335 million yuan, an increase of growth from the end of last year last year. It reached 12.30%.

From the perspective of the industry, in the context of the slowdown in the growth rate of the environmental protection industry, the above -mentioned performance of Chuhuan Technology has confirmed its potential core competitiveness, and the more technologies and talent advantages accumulated in the industry are Chu The main reasons for the continuous and steady growth of environmental technology.

Another analysis believes that with the continuous improvement of environmental protection goals in the field of multiple industrial scenarios, and the concentration of environmental equipment market concentration, the market concentration of environmental equipment will still have a greater potential. growing space.

1) How to increase the trend against the trend

As the leading manufacturer of domestic exhaust gas and odor governance, Chuhuan Technology, which mainly serves customers such as municipal sewage treatment plants and kitchen waste treatment plants, has obtained dual -digit revenue and profits in the first half of 2022.

In the first half of 2022, Chuhuan Technology's operating income and the net profit attributable to the parent company achieved 260 million yuan and 37 million yuan, respectively. Both indicators increased by 26.42%and 16.26%compared with the same period last year.

As a new stock that had just been listed in January, the performance growth of the interim report was another continuation of the continued growth during the reporting period of Chuhuan Technology.

From 2019 to 2021, Chuhuan Technology achieved operating income of 258 million yuan, 401 million yuan, and 587 million yuan, respectively, a year -on -year increase of 34.86%, 55.43%, and 46.15%. Yuan, 074 million yuan and 84 million yuan, a year -on -year increase of 93.98%, 134.67%, and 13.57%, respectively.

In the context of the slowdown in the performance of the environmental protection industry, Chuhuan Technology continues to release growth, or benefits from its "horizontal expansion" of the environmental protection equipment business.

"The performance of the entire A -share environmental protection enterprise is actually slowing down, and some even have floating losses. In this case, an environmental protection industry enterprise can achieve growth in revenue and profits. In fact, the company's moat is located to a certain extent." Shanghai A private equity manager who is concerned about the environmental protection industry said.

It is understood that in addition to maintaining the original municipal sewage treatment plant, kitchen waste treatment plant, farming, oil refining, pharmaceutical chemical industry, dairy products, food processing, printing, textile printing, brewing, winemaking, winemaking, winemaking, winemaking It will also extend to new energy and photovoltaic industries.

In fact, the rapid expansion in different fields is also related to the leading position of Chuhuan Technology in the field of evil pollution control. It is understood that on the basis of many years of technology exploration and accumulation, Chuhuan Technology has developed a variety of governance technologies and products including biofi deodorizing equipment, ion deodorizing equipment, activated carbon adsorption equipment, high temperature heat storage incineration furnaces, etc. At the same time, it has also created a complete industrial chain around the governance of bad odor, that is, from the project design, equipment manufacturing, equipment installation and later maintenance services, it can be independently completed by Chuhuan Technology.

As of the end of June 2022, Chuhuan Technology had 7 invention patents, 8 exterior design patents, 144 practical new patents, and 13 software copyrights. At the same time, there were 88 R & D and technical personnel. The institutions carry out technical exchanges and development, and carry out a number of research application cooperation in the areas of bacteria, biological coupling technology, industrial catalytic technology.

On the basis of many patented technologies and industry talents, Chuhuan Technology has successfully served more than 800 customers and has completed more than 1,700 national contracting projects. "Because the company has certain technical advantages and first -mover advantages in the environmental protection field, it has accumulated a certain brand and reputation in the industry, so it has shown a more significant growth in subsequent business development." The teacher said.

2) Environmental protection "just need" grows.

From the perspective of the industry, the continuous improvement of social industrial production on the prevention and control of various types of pollution, including malodor pollution, has become an inevitable trend.

Among the more than 4,000 kinds of foul pollutants recognized by humans. Including sulfurlol, ammonia, hydrogen sulfide, dieyl sulfur, tricelam, formaldehyde, benzene, oorne, phenol, and phenols will bring greater harm to human health, especially partial compounds have carcinogenic, causing causing carcinogens, causing to cause Degree and mutation effects are easy to harm the respiratory, circulatory system, digestive system, endocrine system, nervous system and mental state.

In recent years, the increasingly developed domestic industrialization has become more developed, and the diffusion of various types of harmful odor pollutants has become an economic and social problem that cannot be ignored.

According to the "2021 China Ecological Environmental Status Bulletin" statistics, only 218 cities in 339 cities at or above the country in 2021 have reached standards for environmental air quality. 39.7%, 34.7%, and 25.2%of the number of days exceeded the standard. This means that national pollution prevention and pollution control work is still long -term. With the increasing value of environmental protection and ecological governance in the whole society, the market capacity of the equipment related to waste treatment will also be further expanded. According to the China Environmental Protection Industry Association's "China Environmental Industry Development Status (2021)", the environmental governance industry During the "14th Five -Year Plan" period, it will maintain a compound growth rate of about 10%. In 2025, the operating income of environmental governance is expected to exceed 3 trillion yuan. Obviously, it will bring a significant stimulus effect on Chuhuan Technology's follow -up performance space.

"The country and society are strengthening pollution treatment of environmental elements such as atmosphere and water through legislation and issuing relevant provisions, and the professional division of pollution prevention will continue to deepen." An environmental protection industry analyst in Beijing pointed out that "The comprehensive market capacity related to the control, monitoring and supervision of evil odor pollution is expected to reach 100 billion levels. In fact, market demand is still steadily increased. This will obviously bring higher growth to environmental protection equipment companies including Chuhuan Technology ceiling."

In fact, the current low market concentration in the environmental protection market is also bringing the imagination of the market share to Chuhuan Technology.

"Domestic malignant pollutants treatment, sewage treatment, desulfurization, and dust removal business have appeared after the 21st century, so the overall industry concentration is very limited, which has also gradually created conditions for some environmental protection companies." The above -mentioned environmental protection industry analysts pointed out that "some companies with more technical advantages in the industry and project experience may gradually win and expand their market share, especially for some companies that have completed listing."

It is worth mentioning that on the sub -stench track, Chuhuan Technology is currently the first and only listed enterprise, which will also bring significant capital to the capital.

"Environmental protection equipment companies like Chuhuan Technology have expanded production and credit blessings through listing, and they are expected to further expand the market size, further improve their market share, and obtain opportunities on the road where the concentration of environmental protection industries has increased. "The analyst pointed out.

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