强泰环保2024中期报告

Corporate Information BOARD OF DIRECTORS EXECUTIVE DIRECTORS Mr. CHAU On Ta YuenBBS, SBS (Chairman)Mr. CHAN Kwan(Chief Executive Officer)Mr. Radius SUHENDRAMr. CHAU Chi Yan Benny NON-EXECUTIVE DIRECTOR Mr. CHAN Pak Lam Brian INDEPENDENT NON-EXECUTIVE DIRECTORS Ms. NG Chung Yan LindaMr. NG Man KungMs. LEUNG Bo Yee Nancy BOARD COMMITTEES AUDIT COMMITTEE Ms. NG Chung Yan Linda(Chairlady)Mr. NG Man KungMs. LEUNG Bo Yee Nancy NOMINATION COMMITTEE Mr. CHAU On Ta Yuen(Chairman)Mr. CHAN KwanMs. NG Chung Yan LindaMr. NG Man KungMs. LEUNG Bo Yee Nancy REMUNERATION COMMITTEE Mr. NG Man Kung(Chairman)Mr. CHAN Pak Lam BrianMs. NG Chung Yan LindaMs. LEUNG Bo Yee Nancy REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands HEADQUARTERS IN THE PEOPLE’S REPUBLIC OFCHINA (THE “PRC” OR “CHINA”) Rugao Hengfa Municipal and Industrial Wastewater Treatment FacilityNorth of Huimin RoadRugao Economic and Technological Development ZoneJiangsu ProvinceThe PRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG Unit 2304, 23rd Floor, Westlands Centre20 Westlands RoadHong Kong 20232304 AUTHORISED REPRESENTATIVES Mr. CHAN KwanMs. TUNG Wing Yee Winnie COMPANY SECRETARY Ms. TUNG Wing Yee Winnie CAYMAN ISLANDS PRINCIPAL SHARE REGISTRAR Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands HONG KONG BRANCH SHARE REGISTRAR Boardroom Share Registrars (HK) LimitedRoom 2103B, 21st Floor148 Electric RoadNorth PointHong Kong 148212103B PRINCIPAL BANKERS Chiyu Banking Corporation LimitedThe Hongkong and Shanghai Banking Corporation LimitedBank of China (Hong Kong) Limited Corporate Information INDEPENDENT AUDITOR Baker Tilly Hong Kong LimitedCertified Public AccountantsHong Kong LEGAL ADVISORSAS TO HONG KONG LAW:Taylor Wessing AS TO PRC LAW:King & Wood Mallesons WEBSITEwww.ellhk.com www.ellhk.com Main Board of The Stock Exchange of Hong Kong Limited 5,000 STOCK CODE 13951395 Dear Shareholders, On behalf of the board (the “Board”) of directors (the “Directors”) ofELL Environmental Holdings Limited (“ELL Environmental” or the“Company”, together with its subsidiaries, the “Group”), I presentthe interim report of the Company for the period ended 30 June 2024(the “Period”). In the first half of 2024, the Group focused on its core operationsin wastewater treatment facilities, wood pellet sales, data centreoperation and the construction of the biomass power plant, withoperations spanning across China and the Republic of Indonesia(“Indonesia”). These businesses, inherently linked to local economictrends and government policies, faced a changing environment. China’s economy grew by 5.0% period-to-period in the first halfof the year, as reported by the National Bureau of Statistics, butthe growth rate was slower than expected due to weak consumerspending, adjustments in the real estate sector, and a slowdownin the rate of growth of infrastructure investments. Despite thesechallenges, the Chinese government continued to implement robustenvironmental protection policies, which positively influenced thewastewater treatment industry – a sector in which the Group isdeeply involved. In Indonesia, the economic outlook remains promising, with theWorld Bank forecasting an average annual GDP growth rate of 5.1%between 2024 and 2026. The demand for electricity in Indonesiais rising, fueled by increasing per capita electricity consumption.The Group is leveraging this demand through its biomass powergeneration initiatives, which align with Indonesia’s strategic goals ofincreasing renewable energy to 23.0% by 2025 and 31.0% by 2050.The completion of the power supply project in Bangka, Indonesia (the“Bangka Project”), which started operations in August 2024, marksa significant milestone for the Group. The Bangka Project is nowsupplying electricity to the national grid under a 25-year fixed-priceagreement with Perusahaan Listrik Negara (“PLN”), Indonesia’s mainelectricity provider, ensuring a stable and predictable revenue streamin the years to come. Chairman’s Statement Despite these positive developments, the Group faced some financialchallenges during the Period. Revenue from wood pellet sales inIndonesia, declined due to a drop in prices. Nevertheless, othersectors, such as information technology services, continued tocontribute positively to the Group’s overall performance. The Groupis also in the process of completing a deemed disposal of 80%interest in its wood pellet production business, which is expectedto be completed in the first half of 2025. Furthermore, the Group isengaged in ongoing arbitration regarding the outstanding paymentfrom the sale of its equity interest in Haian Hengfa WastewaterTreatment Company Limited