Huicheng Environmental Protection's 2026 interim report shows that in the first half of the year the company achieved operating revenue of 497 million yuan, down 11.93% year on year. Net profit attributable to the parent company was a loss of 22.4206 million yuan, swinging from profit to loss year on year and down 546.59%. Net profit after deducting non-recurring items was a loss of 32.6653 million yuan, down 4,386.20% year on year. The sharp swing to a net loss was mainly because geopolitical conflict in the Middle East caused crude oil volatility, core customer Guangdong Petrochemical reduced its operating load, the volume of petroleum coke gasification ash residue received fell sharply, and lower disposal unit prices dragged down the hazardous waste business. At the same time, trial production costs for the 200,000-tonne waste plastics project remained high, and period expenses such as research and development and finance climbed. By product, revenue from resource-based comprehensive utilisation products was 209 million yuan, up 22.61% year on year, with a gross margin of 41.59%, an increase of 17.19 percentage points. Revenue from hazardous waste treatment and disposal services was 232 million yuan, down sharply by 34.73% year on year, with a gross margin of 12.05%, down 15.02 percentage points. Falling volumes and prices together were the main drag.
Qingdao Huicheng Environmental Co LtdCore customer reduced load and lower disposal volumes/prices drove a loss.
