Huicheng Environmental profit plunges amid cost pressures

Qingdao Huicheng Environmental Technology Group's net profit fell 9.6 billion yuan to 4.3 billion yuan in 2024, with the decline continuing into 2025's first half where profit dropped 3 billion yuan to 502 million yuan.

Lower disposal prices for waste catalysts and increased hydrogen production ash residue treatment costs drove the decline. The company plans to raise up to 85 billion yuan through a non-public A-share offering.