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Public company info - Qingdao Ainnovation Technology Group Co. Ltd - H Shares , 02121.HK

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Qingdao Ainnovation Technology Group Co. Ltd - H Shares, 02121.HK - Company Profile
Chairman Liem Djiang Hwa
Share Issued (share) 802,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Chemical Products
Corporate Profile Business Summary: The group manufacture and sell bleaching and disinfectant chemical products, foaming agent products and other specialty chemical products in the People’s Republic of China (the “PRC”). Performance for the year: Revenue for the year under review was approximately RMB2,228.8 million, representing a decrease of approximately RMB20.4 million or 0.9% as compared to the revenue of approximately RMB2,249.2 million for the corresponding period in last year. The group's gross profit decreased by approximately RMB63.6 million or 14.3% to approximately RMB381.9 million for the year under review from approximately RMB445.5 million for the corresponding period in last year. The overall gross margin decreased from 19.8% in 2016 to 17.1% in 2017. The profit attributable to the equity holders of the Company increased by approximately 4.8% to approximately RMB128.6 million for the year ended 31 December 2017 from approximately RMB122.7 million for the year ended 31 December 2016. Business Review: Bleaching and disinfectant chemicals This segment mainly consists of sodium chlorate and hydrogen peroxide, which are two of the group's largest sales generating products. Sodium chlorate and hydrogen peroxide are the principal chemicals used in the elemental chlorine free (“ECF”) and total chlorine free (“TCF”) pulp bleaching process by the group's downstream customers, respectively. During the year under review, the total revenue from the sales of bleaching and disinfectant chemicals was approximately RMB1,334.2 million, representing a decrease of approximately 1.2% or RMB16.1 million from that in 2016. The decrease in revenue was mainly attributable to the decrease in sales volume of sodium chlorate and hydrogen peroxide due to the market condition during the year. Other chemical products This segment mainly consists of basic and modified grades of foaming agent, potassium chlorate, sodium perchlorate, potassium perchlorate, caustic soda, biurea and others. During the year under review, the total revenue from the sales of other chemical products was approximately RMB894.6 million, representing a decrease of approximately 0.5% or RMB4.2 million from that in 2016. The decrease was mainly attributed to decrease in sales volume of foaming agent products as a result of market condition. Prospects: The successful commencement of the 19th National Congress of the Communist Party of China (the “19th National Congress”) has marked the beginning of a new era since the establishment of Socialism in China, pointing out development directions for various industries in the coming five years. The convention has put its emphasis on environmental protection to a record high level. Policy-driven, the environmental protection industry will be able to acquire unprecedented development. The market size of China’s water treatment industry in 2017 is expected to reach RMB280 billion. The level of urban sewage treatment in China will be substantially increased in future, which will greatly stimulate the market demand for domestic sewage treatment. By the end of 2020, full coverage of urban sewage treatment facilities will be achieved, while the urban sewage treatment rate will reach 95% with the utilisation rate of recycled water in cities and provinces further raised. The Ministry of Environmental Protection issued the “13th Five-Year Development Plan for the National Standards of Environmental Protection” (《國家環境保護標準「十三五」發展規劃》) in April 2017 proposing the complete implementation of the requirements under the “Ten Water Directives”(《水十條》), under which key areas on prevention and treatment of water pollution such as industrial sources, domestic sources and agricultural sources are stressed with relevant surrounding emission standards made in priority, among which industrial wastewater is mainly related to ten key industries in terms of refining the control indicators and requirements on water pollutants from industrial sources. In addition, more standards on water pollutant discharge regarding emerging industries such as coal chemical industry and shale gas exploitation industry will be formulated, and the Integrated Wastewater Discharge Standard (污水綜合排放標準) will be amended. Market Development Trend from Single Water Body Treatment to Whole River Basin Management During the 19th National Congress, it is pointed out that ecological problems have undoubtedly become the major conflicts against the early phase of socialism. In other words, the major conflict in the group's society has been transformed into the conflict between people’s increasing needs for better living and the uneven and unreasonable development. Moreover, the goal of full completion of China’s ecologically civilised facilities by the middle of this century has also been put forward, while four major missions have been planned concurrently, including facilitation on green development, treatment on outstanding environmental problems, enhancement on ecosystem protection and regulatory system reforms on ecological environment. With the speeding development of water environment treatment in the group's country, it is difficult to eradicate pollution from the sources by means of point source treatment. This also means that the more complicated the water environment treatment projects have become, the stricter requirements will be imposed on the provision and operation of comprehensive corporate solutions. Balancing the development along the industry chain, improving the ability of enterprises for healthy development, it has also laid the foundation for the development in line with the new era of environmental protection, making integrated treatment the mainstream mode applied for water treatment. Being an Integrated Water Treatment Service Provider for Providing Integrated Solutions The Group has established strategic partnerships with scientific research institutes such as Fujian Haixi Research Institute of the Chinese Academy of Sciences (中國科學院福建海西研究院), Beijing University of Chemical Technology, Fuzhou University and Fujian Normal University, taking the road of Industry-Academia-Research development. The group have a wide range of businesses in areas such as wastewater treatment, solid waste treatment and environmental protection pharmaceuticals with an aim to turn the Group into a provider of integrated water treatment service. With core water treatment technologies and resource advantages in bleaching and disinfectant chemicals such as sodium chlorate and hydrogen peroxide, the Group provides comprehensive integrated water treatment solutions for different customers, which cover municipal water supply and drainage, industrial water treatment, medical wastewater treatment and rural sewage treatment, especially providing unique solutions in the aspect of recycling highlysaline wastewater in specific areas. Continuous Investment on Research and Development and Non-stop Enhancement of Water Treatment Technology Barriers The Group has determined on technological innovation for a long time, with continuous investment on research and development and non-stop enhancement of water treatment technology barriers. Sichuan Minjiang Snow Salt Chemical Industry Co., Ltd, the Group’s wholly-owned subsidiary and hereinafter referred to as “Minjiang Snow”, obtained four Utility Model Patent Certificates in 2017 in areas of new electrolytic cells, production of sodium chlorate from industrial salt, cooling and crystallisation of high-content sodium chlorate at low temperature and sodium chlorate plants for recovery of chlorine. Minjiang Snow’s scientific research projects, the “Study of the Electrolysis and Purification of Emission by Sodium Chlorate and the Comprehensive Utilisation of Waste Heat Technology” (《氯酸鈉電解尾氣淨化餘熱綜合利用技術研究》) and the “Study and Application of Barium-free Technology in the Process of Producing Sodium Chlorate from Industrial Salt” (《工業鹽製備氯酸鈉工藝中的無鋇技術研究及應用》)”, were awarded the third and the first prize of Scientific and Technological Progress by the People’s Government of Ngawa Prefecture, Sichuan in 2017. Broadened Application of Hydrogen Energy Promoting Two-way Development With the rapid economy development, more energy is consumed. As a secondary energy, hydrogen plays a crucial role in areas such as production of HCNG (Hydrogen Enriched Compressed Natural Gas), fuel cells and methoxymethane, with enormous potential for market development. Therefore, the Group is highly advantaged in terms of production processes and consolidated cost upon the integrated use of hydrogen, the by-product of sodium chlorate. In December 2016, Minjiang Snow has entered into a “Strategic Cooperation Framework Agreement in relation to HCNG Hybrid Vehicles Project” (《HCNG(天然氣摻氫)混合燃料汽車項目戰略合作框架協議》) with six parties including State Key Laboratory of Automotive Safety and Energy of Tsinghua University (清華大學汽車安全與節能國家重點實驗室), pursuant to which all parties have agreed to establish strategic cooperation relationship in respect of the HCNG hybrid vehicles project in order to facilitate the development of HCNG-fuelled vehicles business, and to start collaborating in the overall cooperation, channel integration and resource sharing of HCNG vehicle projects. The Group will gather innovative and industrial resources by taking advantage of market mechanism, coordinate in promoting infrastructure improvement regarding hydrogen production, storage and transportation as well as hydrogenation, so that the group can commence indepth cooperation in the application, safety and protection as well as technology standards with respect to hydrogen energy. Leveraging the Group’s experience in safe production of hydrogen for over 30 years, the group actively grip the momentum for hydrogen energy development by fully utilising the group's self-developed key technology of hydrogen purification to broaden the application of hydrogen energy and promote two-way development.

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