Weigang Environmental Technology (01845) announced interim results. Shareholders' losses of $12.272 million increased 67.17% year over year

According to the Zhitong Finance App, Weigang Environmental Technology (01845) announced interim results for the six months ended June 30, 2026. The group obtained revenue of RMB 82.808 million (same unit), an increase of 2.6% year on year; loss due to company owners during the period was 12.272 million yuan, an increase of 67.17% year on year; basic loss per share was 0.92 points.

According to the announcement, the increase in revenue was mainly due to the increase in revenue from the service business surrounding the oil field.

Revenue from hazardous waste incineration disposal solutions decreased by 46.4% from $11 million for the six months ended June 30, 2025 to $5.9 million for the six months ended June 30, 2026. The decline was mainly due to the growing saturation of the market, falling demand, and intense competition.

Revenue from services surrounding the oil field increased by 7.4% from 48.4 million yuan for the six months ended June 30, 2025 to 52 million yuan for the six months ended June 30, 2026. This increase is due to increased demand for services in the oil market.

Revenue from parallel collaborative disposal services for cement rotary kilns decreased by 35.7% from 18.2 million yuan for the six months ending June 30, 2025 to 11.7 million yuan for the six months ending June 30, 2026, mainly due to the reduction in operating hours of the Yunfu and Maoming projects.

Revenue from sludge thermal desorption disposal services increased by 2,150% from 400,000 yuan for the six months ending June 30, 2025 to 9 million yuan for the six months ending June 30, 2026, mainly due to the operation of the Karamay project in Xinjiang.