Zheneng Jinjiang Environment Holding Co., Ltd. · SGX:BWM
Zheneng Jinjiang Environment — FY2024 Earnings Presentation
25 slides from Zheneng Jinjiang Environment's earnings presentation, Mar 10, 2025
Slide 1: Unaudited Results Presentation Full Year Ended 31 December 2024
10 March 2025 UNAUDITED RESULTS PRESENTATION Full Year Ended 31 December 2024
Slide 2: Disclaimer
Disclaimer This document has been prepared by Zheneng Jinjiang Environment Holding Company Limited ("Zheneng Jinjiang Environment" or the "Company"), solely as presentation materials to be used by the Company’s management. It may contain projections and forward- looking statements that reflect the C
Slide 3: About the Company
ABOUT THE COMPANY
Slide 4: About Zheneng Jinjiang Environment
ABOUT ZHENENG JINJIANG ENVIRONMENT A first mover and the leading Waste-To-Energy (“WTE”) operator in China GROWING RECURRING REVENUE BASE FROM WTE OPERATIONS Portfolio 38 operational facilities in China c.97%* of revenue c.65% of the operational facilities are under the build-own- from 3 sources of
Slide 5: WTE Industry Value Chain
WTE INDUSTRY VALUE CHAIN Enhance the value of WTE products 5
Slide 6: Shareholders Structure
SHAREHOLDERS STRUCTURE Backing and support from a strong network of substantial shareholders State-owned enterprise Conglomerate Prominent Institutional Investors WHITEL MANAGEMENT & AFFILIATE 12.50% 0.157% ZHENENG PROVINCIAL HANGZHOU JINJIANG GROUP DIRECTORS An affiliate of Hopu Investments, China-
Slide 7: Leadership Team
LEADERSHIP TEAM Experienced leadership team with both technical and corporate expertise • Average of over 25 years of work experience WANG Ruihong JIN Ruizhi Executive Deputy Chairman Executive Director • Leaders with multi-disciplinary & Deputy GM & CFO management knowledge to drive the Responsible
Slide 8: Current Portfolio
CURRENT PORTFOLIO 38 operational treatment facilities across China 1 Hebei 6 Inner Mongolia 8 Heilongjiang BOO Tangshan Jiasheng 1,000 BOO Hothot New Energy 1,750 BOO Suihua Green Energy 800 BOO Leting Jinhuan 500 BOO Qitaihe Green Energy 1,000 7 Zhejiang BOO Shijiazhuang Jiasheng 1,600 Suihua Green
Slide 9: Project Pipeline
PROJECT PIPELINE WTE Facilities Other Facilities Facility Name Capacity (tn/d) Type Facility Name Capacity (tn/d) Type Wuchang Power Plant Expansion 3,000 BOO Zibo Green Energy Kitchen Waste Treatment 200 Wuchang Power Plant Reconstruction - BOO Wuhan Jinjiang Kitchen Waste Treatment 500 BOO Hebei B
Slide 10: FY2024 Unaudited Financial Results
FY2024 UNAUDITED FINANCIAL RESULTS
Slide 11: FY2024 Performance at a Glance
FY2024 PERFORMANCE AT A GLANCE REVENUE GROSS PROFIT MARGIN (GPM) RMB3,731.1m 35.8% -0.5% +5.7ppts** Of which: Revenue from WTE Business RMB3,631.1m PROPOSED DIVIDEND PATMI of the Group 2.3 SG Cents RMB618.5m +76.9% +119.6% Dividend yield ~5.35%* PATMI Margin ~16.5% ELECTRICITY ON-GRID STEAM SUPPLIED
Slide 12: Revenue Trend
REVENUE TREND Steady growth in revenue generated from core WTE business Total Revenue (RMB’mln) WTE (RMB’mln) 4,101 4,074 3,877 101 3,750 3,731 461 12 1,768 1,808 2,209 2,443 2,905 3,335 3,425 3,631 315 19 638 306 3,031 3,084 735 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 88 2,715 1,353
Slide 13: Gross Margin Analysis
GROSS MARGIN ANALYSIS Expansion of steam business, technical upgrades and management optimization improve operational efficiency, and slag revenue is included in the WTE business Segmental GP (RMB’mln) FY2024 FY2023 Change Gross Profit and GP Margin WTE 1,283 1,045 22.8% 1,400 1,335 60 0.1 BOT Const
Slide 14: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS Growing net assets with a stable and manageable debt level Total Assets & Net Assets (RMB’mln) Net Interest-bearing Liabilities/Total Assets 45.7% 45.6% 23,107 21,473 21,948 20,374 43.5% 43.0% 43.1% 17,767 7,169 7,715 6,538 6,875 6,103 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23
Slide 15: Operational Performance
GA i REIL IA I OPERATIONAL PERFORMANCE
Slide 16: Historical Expansion
HISTORICAL EXPANSION Demonstrated consistent and steady capacity growth over the past 5 years 915 921 790 805 INSTALLED ELECTRICITY 718 POWER GENERATTION CAPACTIY (MW) 44,405 44,405 41,955 WASTE TREATMENT 40,410 CAPACITY (TONNES/DAY) 38,060 36 38 38 34 3 3 29 1 2 9 8 8 1 8 6 FACILITIES 25 25 27 27 2
Slide 17: Operational Performance
OPERATIONAL PERFORMANCE Continued capacity expansion to tap growth opportunities, particularly in steam supply Electricity Generated & On-grid Steam Supplied Waste Treated Electricity Supplied (’000 tonnes) (‘000 tonnes) (KWh million) 5,251 12,629 13,259 12,826 4,711 12,000 11,589 4.2 4.0 10,661 3.8
Slide 18: Expansion Plans
EXPANSION PLANS Daily capacity to grow by 34% within 10 years on local and new geographical expansion Current Under Construction In Preparatory Portfolio /Upgrades Stage 38 6 13 (4,900 tonnes/day) (9,000 tonnes/day) China 0 1 0 (1,000 tonnes/day) Indonesia Daily Capacity (in tonnes) 44,405 + 5,900 +
Slide 19: 2H2024 Award-Wins
2H2024 AWARD-WINS A strong testament to the Group’s dedication to operational excellence and societal benefit Corporate Growth & Industry Influence Operational Excellence & Sustainability July 2024 October 2024 “Leading Enterprise in High-Quality Development of the Solid Waste Industry” 2024 Shangha
Slide 20: Future Outlook
FUTURE OUTLOOK
Slide 21: Two-Pronged Growth Strategy
TWO-PRONGED GROWTH STRATEGY Expanding within the WTE ecosystem through technical diversification, geographical expansion, and operational enhancement Ongoing Expansion Plan Efficiency Enhancement Geographic Technology Management Expansion China Indonesia “Four-step” Strategy Operational 38 - Technic
Slide 22: Prudent Capital Management
PRUDENT CAPITAL MANAGEMENT Robust capital management guidelines for healthy and sustainable growth Flexible financing policy with accessibility to diverse funding options STRATEGY GOING FORWARD • Continue to work closely with our CAPITAL MANAGEMENT POLICY Rolling over short term working capital loan
Slide 23: Schema of High-Parameter Technical Solutions
SCHEMA OF HIGH-PARAMETER TECHNICAL SOLUTIONS Adopted to greatly enhance power generation capacity Compared with the medium temperature and medium pressure waste heat utilisation technology • the medium temperature sub-high pressure technology offer a 2-5% increase in the energy efficiency for incine
Slide 24: WTE Ecosystem and Classic Case Study
WTE ECOSYSTEM AND CLASSIC CASE STUDY Conceptualised WTE Ecosystem Case Study: Wuhan Jinjiang WTE Facility Project Introduction Pre-reconstruction schema Post-reconstruction schema Size 90 acres 148.5 acres Total capacity 2,600 5,500 (tonnes/day) Treatment for kitchen waste, Domestic waste disposal S
Slide 25: Thank You
THANK YOU For enquiries please contact Zhou Yan (Vicki) zhouyan@financialpr.com.sg Lu Yunan (Lily) lily@financialpr.com.sg
Zheneng Jinjiang Environment Holding Company — FY2024 Earnings Presentation on 6ix