WG ENV TECH released its interim results, with a loss attributable to shareholders of HKD 7.341 million, an increase of 39.38% year-on-year

Zhitong
2025.08.21 13:16
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WG ENV TECH released its interim results for the period ending June 30, 2025, reporting a loss attributable to shareholders of HKD 7.341 million, an increase of 39.38% year-on-year. The group's revenue was HKD 80.709 million, a decrease of 10.66% year-on-year. The revenue decline was mainly due to a decrease in income from oilfield peripheral services and hazardous waste incineration disposal solutions, with the former down 9.5% and the latter down 38.5%. Revenue from cement rotary kiln parallel collaborative disposal services increased by 48%

According to the Zhitong Finance APP, WG ENV TECH (01845) released its interim results for the six months ending June 30, 2025, reporting revenue of RMB 80.709 million, a year-on-year decrease of 10.66%; the loss attributable to shareholders for the period was RMB 7.341 million, an increase of 39.38% year-on-year; basic loss per share was 0.551 cents.

The announcement stated that the decrease in revenue was mainly due to a reduction in income from oilfield peripheral services and hazardous waste incineration disposal solutions. Generally, most of the group's revenue comes from providing hazardous waste incineration disposal solutions and oilfield peripheral services, with the remaining revenue coming from providing cement rotary kiln parallel collaborative disposal services and other services (including technology upgrades, maintenance services, and anaerobic cracking treatment solutions for solid waste).

Revenue from hazardous waste incineration disposal solutions decreased by 38.5% from RMB 17.90 million for the six months ending June 30, 2024, to RMB 11.00 million for the six months ending June 30, 2025. This decrease was mainly due to market saturation, declining demand, and intense competition.

Revenue from oilfield peripheral services decreased by 9.5% from RMB 53.50 million for the six months ending June 30, 2024, to RMB 48.40 million for the six months ending June 30, 2025. This decrease was attributed to reduced demand for oil market services.

Revenue from cement rotary kiln parallel collaborative disposal services increased by 48.0% from RMB 12.30 million for the six months ending June 30, 2024, to RMB 18.20 million for the six months ending June 30, 2025, mainly due to operations in the Yunfu and Maoming projects.

Revenue from oil sludge thermal desorption disposal services decreased by 93.2% from RMB 5.90 million for the six months ending June 30, 2024, to RMB 0.40 million for the six months ending June 30, 2025, mainly due to the suspension of operations for the Xinjiang Karamay project renovation.

Revenue from other services increased by 250.0% from RMB 0.80 million for the six months ending June 30, 2024, to RMB 2.80 million for the six months ending June 30, 2025. This increase was mainly due to increased demand for technology upgrades and maintenance services from clients during the six months ending June 30, 2025

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