青新環境工程股份有限公司 (Chin Hsin Environ Engineering Co., Ltd.) 2025 Q2 法說會簡報

Company Overview

• Established: 1999年 (1999)
• Description: A professional medical waste and industrial waste removal organization, integrating medical waste plastic recycling and eco-friendly plastic wood production for resource circulation.
• Paid-in Capital: 4.6 億元 (NT$ 460 million)
• Revenue Scale (2024): 6.99 億元 (NT$ 699 million)
• Group Employees: 232 人 (232 people)
• Operating Locations:
  • 桃園醫廢清除據點 (Taoyuan Medical Waste Removal Base)
  • 雲林青新木工廠 (Yunlin Chin Hsin Wood Factory)
  • 事廢、醫廢清除據點 (Industrial Waste, Medical Waste Removal Base)
  • 醫廢再利用處理廠 (Medical Waste Recycling Plant)
  • 台南醫廢清除據點 (Tainan Medical Waste Removal Base)
• Business Philosophy:
  • Service, innovation, and sustainability as core principles.
  • Transforming traditional industries into modern, innovative ones through technological management of removal processes.
  • Dedicated to transforming waste plastics into reusable resources through cross-industry collaboration.
  • Promoting green-thinking operational planning, continuously demonstrating professionalism in environmental protection, distribution channels, and resource regeneration.

Financial Highlights

• Market Share:
  • 醫療廢棄物 (Medical Waste): Increase from 34% to 40%.
  • 事業廢棄物 (Industrial Waste): Increase from 1.01% to 1.09%.
  • 再利用清運 (Recycling Removal): 29%.
  • 再利用處理 (Recycling Treatment): Increase from 0% to 7.7%.

Business Segments

Products, Services & Technology

• Core Strategy: Cross-industry market development, increase the proportion of waste transformed into resources, reduce operating costs, and explore plastic resource circular economy opportunities.
• Main Services & Products:
  • 醫療廢棄物清除服務 (Medical Waste Removal Services):
    • Utilizing the "行動裝置六聯單電子化申報系統" (Mobile Device Six-Part Manifest Electronic Reporting System) for paperless delivery, electronic storage, API automatic docking, and simplified reporting.
    • System Name: 青新電商 廢棄物清運控管系統 (Chin Hsin E-commerce Waste Removal Control System).
  • 事業廢棄物清除服務 (Industrial Waste Removal Services): Similar to medical waste removal, leveraging electronic systems for efficiency.
  • 醫療廢棄物再利用處理服務 (Medical Waste Recycling and Treatment Services):
    • Process Steps:
      1. Initial manual sorting
      2. High-temperature high-pressure sterilization
      3. Washing, sorting, cutting, drawing
    • Key Metric: 廢棄物資源化比例 (Waste Resource Utilization Ratio) - 49% in 2025 Q2.
  • 環保建材青新木 (Eco-friendly Building Material Chin Hsin Plastic Wood):
    • Product Concept: "塑料循環經濟" (Plastic Circular Economy), "全塑木小木屋" (All-Plastic Wood Cabin).
    • Certifications and Accreditations:
      • 綠建材標章 (Green Building Material Mark)
      • ISO 9001:2015 Environmental Plastic Material Manufacturing
      • SGS CNS15730 Wood-Plastic Recycled Composite Material
      • SGS CNS7774 Rigid Polyurethane Foam Plastic Insulation Material
  • 廢水處理服務 (Wastewater Treatment Services)
  • 顧問服務 (Consulting Services):
    • Environmental Safety Professional Accumulation: Industry professional knowledge, environmental legal compliance, and rich practical experience.
    • Project Bidding: Engaging in environmental policy promotion and analysis reports for Ministry of Environment and EPA projects.

Innovative Business Model & Key Technologies

• Innovative Business Model:
  • Cross-industry Integration: Combines "Waste Removal," "Resource Recycling," and "Chin Hsin Plastic Wood Manufacturing and Sales."
    • Secures customer base and reduces operational risk.
    • Addresses challenges while enhancing competitiveness.
• Key Technologies:
  • Electronic Management of Removal Processes: Enhances satisfaction for regulatory authorities, customers, and employees.
  • Innovative Removal Processes: Star-shaped transportation network and centralized waste transfer stations.

Recent Performance and Results (2025 Q2 Operating Performance Review)

• Monthly Revenue & Product Gross Margin Performance:

  • Monthly Revenue shows an upward trend compared to the previous year.
  • Quarterly Revenue & Gross Margin:
    • Route integration generates economies of scale.
    • Revenue (K NTD):
      • 2023Q1: ~100,000
      • 2023Q2: ~120,000
      • 2023Q3: ~140,000
      • 2023Q4: ~150,000
      • 2024Q1: ~180,000
      • 2024Q2: ~200,000
      • 2024Q3: ~210,000
      • 2024Q4: ~200,000
      • 2025Q1: ~180,000
      • 2025Q2: ~190,000
    • Gross Margin (%):
      • 2023Q1: 49.59%
      • 2023Q2: 49.71%
      • 2023Q3: 51.24%
      • 2023Q4: 55.34%
      • 2024Q1: 60.28%
      • 2024Q2: 60.01%
      • 2024Q3: 60.91%
      • 2024Q4: 58.08%
      • 2025Q1: 57.68%
      • 2025Q2: (Slightly below 58%)

• EPS Performance:

  • EPS (NTD per share):
    • 2023:
      • Q1: 0.61
      • Q2: 0.40
      • Q3: 0.63
      • Q4: 0.97
      • Total 2023: 2.61
    • 2024:
      • Q1: 0.73
      • Q2: 1.00
      • Q3: 1.63
      • Q4: 1.51
      • Total 2024: 4.87
    • 2025 (Partial Year):
      • Q1: 1.12
      • Q2: 1.28
      • Total 2025 (Q1+Q2): 2.40

Future Outlook and Guidance

• Full-Year Operating Outlook:
  • For Medical Waste Removal Services & Industrial Waste Removal Services:
    • Consolidate existing customers and increase customer stickiness.
    • Develop project-based business and bid for government tenders.
  • For Medical Waste Recycling and Treatment Services:
    • Promote multi-item recycling and introduce automated system processing workflows.
  • For Eco-friendly Plastic Wood Product Sales:
    • Continue R&D investment and target government tenders for public works projects.

Disclaimer

• This presentation contains forward-looking information from internal and external sources. Actual future results may differ due to various risks. Financial information has not been fully audited. Future outlook reflects current company views; updates may not be timely.