Dongjiang Environmental (00895) issues profit warning, expecting a net loss attributable to shareholders of 705 million to 785 million yuan in 2024.

Dongjiang Environmental (00895) announced that as of December 31, 2024, the company incurred a net loss of RMB 7.05 billion to RMB 7.85 billion attributable to the shareholders of the listed company, compared to a net loss of RMB 7.5 billion in the same period last year. The announcement stated that in 2024, the hazardous waste industry continues to face intense competition, with the price of harmless waste collection and transportation continuing to decrease, and the recovery rate of resource waste continuing to rise. In addition, the large amount of depreciation and impairment effects brought by new production projects have put extreme pressure on the company's operations. In order to reverse the current unfavorable situation, the new leadership team of the company is adhering to the guiding principle of "three strengths and four excellence", implementing deep reforms in multiple fields, continuing to explore and promote key tasks such as transformation and upgrading, technological innovation, cost reduction and efficiency improvement, and firmly maintaining the company's basic operations.