On the evening of August 30, Luen Mei Quantum released the semi-annual report of 2022. In the first half of the year, the company earned the operating income of RMB 1.943 billion, with a year-on-year growth rate of 2.81%. The year-on-year growth of the company's operating income in the first half of the year was mainly thanks to the continuous growth of the company's heat supply area and the operation of Shandong Fulin Heating Power Project.

Luen Mei Quantum will also strive to make a breakthrough in the hydrogen energy field, integrate the upstream and downstream core technologies and equipment of the industry, especially make investment in key links of hydrogen production, high-pressure hydrogen storage and fuel cells, and build the core competitiveness of Luen Mei's hydrogen energy development.

 Luen Mei Quantum Continued to Maintain the Main Business Advantages

In the first half of the year, the Company’s profit after deduction of non-recurring profit and loss is RMB 675 million, with a year-on-year decrease rate of 9.06%. The company said that it was mainly due to the rise in fuel prices.

The coal price in the first half of 2022 dropped to some extent compared with the second half of 2021, but it still rose significantly compared with the first half of 2021. Luen Mei Quantum said that, with the release of relevant policies on the operation range of reasonable coal price, the coal price had been stabilized and the company's profit was expected to gradually recover.

The clean heat supply business model of Luen Mei Quantum mainly includes heat supply, power supply, gas supply and engineering construction, etc. In the first half of the year, Shenyang Guoxin Environmental Protection New Energy Co., Ltd., a subsidiary of the company, carried out the construction of flue gas waste heat recovery project, which is expected to be put into operation by the end of this year.

It is estimated that about 470000 GJ of heat can be recovered every year after the completion of the project, saving nearly 20000 tons of standard coal, and reducing about 50000 tons of carbon dioxide emissions.

During the heat supply season from 2021 to 2022, Guohui New Energy Co., Ltd., a subsidiary of the company, completed the expansion of the reclaimed water source heat pump project. The expanded project could realize the zero carbon heat supply for the building of more than 3 million square meters, providing a valuable demonstration effect for the comprehensive utilization of urban sewage and zero carbon clean heating.

On the basis of further consolidating the central heat supply business in the north, Luen Mei Quantum is vigorously expanding its comprehensive energy service business in the middle and lower reaches of the Yangtze River and South China.

In combination with the current projects of ultra-low emission transformation of heat source, reclaimed water source heat pump heat supply, industrial waste heat utilization and smart energy operation, Luen Mei Quantum is building a new type of energy system covering multiple nodes of source, network and load, realizing multi-energy complementation and demand, supply interaction, which will further strengthen the company's position as a comprehensive energy service provider driven by scientific and technological innovation.

Industrial insiders said that, under the goal of "peak carbon dioxide emissions and carbon neutrality", the technological advantages and smart energy operation capabilities accumulated by Luen Mei Quantum in the field of clean heat supply are expected to continue to maintain its advantages in the future market competition.

Invested in Hydrogen Energy Business

Luen Mei Quantum will also strive to make a breakthrough in the hydrogen energy field, integrate the upstream and downstream core technologies and equipment of the industry, and especially invest in the layout for key links of hydrogen production, high-pressure hydrogen storage and fuel cells in order to build the core competitiveness of Luen Mei's hydrogen energy development.

In 2021, the company established the Hydrogen Business Unit to expand hydrogen business, and signed a strategic cooperation agreement with Shanghai Yangtze River Delta Hydrogen Energy Technology Research Institute for strategic cooperation. In December 2021, the company invested RMB 100 million in Cemt. Co., Ltd. to further improve the company's industrial layout in the field of clean energy. The company said that it would continue to strengthen the investment in the layout of hydrogen energy business and promote the implementation of hydrogen energy in the energy field in the future.

As of the end of the reporting period, the Company's net assets attributable to shareholders of the listed company increased by 17.27% over the end of 2021, exceeding RMB 10.2 billion; the cash in hand was RMB 6.72 billion, with a significant increase from RMB 5.46 billion at the end of 2021.

Analysts said that under the "peak carbon dioxide emissions and carbon neutrality" goal, sufficient cash in hand provides a strong guarantee for the company to develop new business, so that the company will accelerate the layout of a variety of renewable energy, hydrogen energy, energy storage and other new energy fields in the future.

 In addition, Mega-info Media-- a subsidiary of the company and "China's first high-speed rail digital media stock", earned an operating income of RMB 264 million in the first half of the year, with a year-on-year increase rate of 8.34%.

In the first half of the year, Mega-info Media opened 461 railway passenger stations. Meanwhile, Mega-info Media is actively expanding media in the urban business district to create a new business growth pole.

On May 30, Mega-info Media announced that it planned to invest RMB 420 million to acquire 15 outdoor naked eye 3D high-definition large screens in provincial capitals and cities above the capital level through self-construction or agency. Since June, the 1400 square meters and 550 square meters of naked eye 3D large screens built by Mega-info Media in Guangzhou and Taiyuan have been put into operation.