Beijing Orient Landscape & Environment Co., Ltd. (002310.SZ) Bundle
Dive into a hard-nosed financial snapshot of Beijing Orient Landscape & Environment Co., Ltd. where 2024 brought a surprising top-line rebound-revenue jumped to CNY 876.89 million (up 54.07% from CNY 569.16 million) even as the company posted a CNY 3.60 billion net loss (a 29.11% reduction from CNY 5.07 billion in 2023), but early 2025 paints a stark contrast with nine-month revenue collapsing to CNY 156.24 million from CNY 684.53 million a year earlier; profitability metrics are stressed (EPS -0.76, ROE -1,132.90%, negative operating cash flow of CNY -103.5 million and a negative gross margin), balance sheet and liquidity figures show mixed signals (market cap CNY 14.04 billion, EV CNY 14.25 billion, debt-to-equity 0.49, total debt CNY 755.14 million vs cash CNY 550.31 million yielding a net cash position of -CNY 204.83 million, current ratio 0.99, quick ratio 0.87, interest coverage -16.02), and valuation ratios underscore the distress (EV/EBITDA -11.35, P/S 38.61, P/B 8.76, negative earnings yield and P/E), all against a backdrop of industry headwinds, regulatory and operational risks and potential growth levers in China's environmental services sector-read on to unpack what these figures mean for investors.
Beijing Orient Landscape & Environment Co., Ltd. (002310.SZ) - Revenue Analysis
Beijing Orient Landscape & Environment Co., Ltd. reported significant year-on-year volatility across 2024 and 2025, with a sharp rebound in 2024 followed by a pronounced contraction in the first nine months of 2025.
- 2024 revenue: CNY 876.89 million - an increase of 54.07% from 2023 (CNY 569.16 million).
- 2024 net loss: CNY 3.60 billion - improved by 29.11% versus 2023 net loss of CNY 5.07 billion.
- First 9 months of 2025 revenue: CNY 156.24 million, down from CNY 684.53 million in the same period of 2024.
| Period | Revenue (CNY million) | YoY Change | Net Profit / (Loss) (CNY billion) |
|---|---|---|---|
| 2023 (Full Year) | 569.16 | - | (5.07) |
| 2024 (Full Year) | 876.89 | +54.07% | (3.60) |
| 2024 (Jan-Sep) | 684.53 | - | - |
| 2025 (Jan-Sep) | 156.24 | -77.16% vs 2024 Jan-Sep | - |
Key interpretations and investor-relevant points:
- 2024 represented a pronounced recovery in topline relative to 2023, bucking the sector which saw average annual earnings decline of -27.3%.
- Even though 2024 revenue rose, the company remained deeply loss-making (CNY 3.60 billion), indicating profitability challenges despite revenue growth.
- The collapse to CNY 156.24 million revenue in the first nine months of 2025 implies acute operational or market pressures, with a 77.16% drop versus the same period in 2024.
- Sustaining the 2024 growth momentum appears difficult given the rapid 2025 decline; investors should monitor contract pipelines, backlog realization and cash flow trends closely.
- Comparative context: 2024 growth contrasts industry contraction (-27.3%); 2025's deterioration suggests company-specific risks beyond sector trends.
For related corporate positioning and strategic context, see: Mission Statement, Vision, & Core Values (2026) of Beijing Orient Landscape & Environment Co., Ltd.
Beijing Orient Landscape & Environment Co., Ltd. (002310.SZ) - Profitability Metrics
- Net loss (2024): CNY -3.60 billion resulting in EPS: CNY -0.76
- Return on equity (ROE, 2024): -1,132.90%
- Operating cash flow (2024): CNY -103.5 million
- Operating income (2024): CNY -2.77 billion
- Gross profit margin (2024): negative (costs exceeded revenue)
- Net margin (2024): -380.38%
| Metric | 2024 Value | Interpretation |
|---|---|---|
| Net Income (Loss) | CNY -3,600,000,000 | Large net loss impacting equity and retained earnings |
| Earnings Per Share (EPS) | CNY -0.76 | Negative per-share result for common shareholders |
| Return on Equity (ROE) | -1,132.90% | Losses vastly exceed shareholders' equity base |
| Operating Income | CNY -2,770,000,000 | Core operations producing negative operating profit |
| Operating Cash Flow | CNY -103,500,000 | Insufficient cash generation from operations |
| Gross Profit Margin | Negative | Cost of goods/services exceeded revenue |
| Net Margin | -380.38% | Expenses far exceed total revenue |
- Operational cash strain (negative operating cash flow) compounds the impact of accounting losses on liquidity and short-term obligations.
- Negative gross margin points to pricing, cost structure, or project execution issues that directly drive operating losses.
- ROE of -1,132.90% signals that shareholders' equity has been eroded sharply relative to net losses.
Beijing Orient Landscape & Environment Co., Ltd. (002310.SZ) - Debt vs. Equity Structure
Key balance-sheet metrics as of November 6, 2025 and related notes on leverage, liquidity and capital structure.
- Market capitalization: CNY 14.04 billion
- Enterprise value (EV): CNY 14.25 billion
- Debt-to-equity ratio: 0.49 (moderate leverage)
- Total debt reported: CNY 755.14 million
- Cash and cash equivalents: CNY 550.31 million
- Net cash position: -CNY 204.83 million (liabilities exceed cash)
- Alternate low total debt figure referenced: CNY 2.9 million (indicates an effectively unleveraged view in some disclosures)
- Ongoing debt restructuring may alter future reported debt and leverage metrics
| Metric | Value (CNY) | Notes |
|---|---|---|
| Market Capitalization | 14,040,000,000 | Market value of equity as of 2025-11-06 |
| Enterprise Value (EV) | 14,250,000,000 | Includes net debt adjustments |
| Total Debt (reported) | 755,140,000 | Gross interest-bearing liabilities per recent statement |
| Cash & Cash Equivalents | 550,310,000 | Short-term liquid assets |
| Net Cash / (Debt) | -204,830,000 | Cash minus total debt = negative net cash |
| Debt-to-Equity Ratio | 0.49 | Moderate level of leverage |
| Alternate Low Total Debt | 2,900,000 | Reported in some disclosures; indicates low leverage in certain interpretations |
- Implications for investors:
- A market cap near CNY 14.04B vs EV of CNY 14.25B implies modest net debt impact on enterprise valuation.
- Debt-to-equity of 0.49 signals capacity to take on additional leverage if needed, but negative net cash reduces short-term financial flexibility.
- Discrepancy between CNY 755.14M total debt and the CNY 2.9M low-debt figure requires review of debt classification (short-term vs long-term, contingent liabilities, guarantees, or post-reporting restructuring).
- Active debt restructuring could improve liquidity ratios or shift liabilities off the balance sheet, materially affecting future leverage metrics.
Further context and investor-oriented details are available here: Exploring Beijing Orient Landscape & Environment Co., Ltd. Investor Profile: Who's Buying and Why?
Beijing Orient Landscape & Environment Co., Ltd. (002310.SZ) - Liquidity and Solvency
Key liquidity and solvency indicators for Beijing Orient Landscape & Environment Co., Ltd. show stress in short-term coverage and operating cash generation, partially offset by a material cash balance.
- Current ratio: 0.99 (slightly below the 1.0 benchmark, indicating potential liquidity concerns).
- Quick ratio: 0.87 (suggests difficulty meeting short-term obligations without relying on inventory conversion).
- Interest coverage ratio: -16.02 (operating income is insufficient to cover interest expenses).
- Operating cash flow (2024): CNY -103.5 million (negative, pointing to potential solvency pressure if prolonged).
- Cash position: CNY 550.31 million (provides a buffer against operational losses in the near term).
- Net cash position: CNY -204.83 million (negative, indicating total liabilities exceed cash and equivalents).
| Metric | Value | Implication |
|---|---|---|
| Current Ratio | 0.99 | Below 1.0 - potential short-term liquidity strain |
| Quick Ratio | 0.87 | Insufficient liquid assets excluding inventory |
| Interest Coverage Ratio | -16.02 | Operating income negative relative to interest expense |
| Operating Cash Flow (2024) | CNY -103.5 million | Negative cash generation from operations |
| Cash Balance | CNY 550.31 million | Available liquidity buffer |
| Net Cash Position | CNY -204.83 million | Net debtor position after accounting for borrowings |
Investors should weigh the negative operating cash flow and interest coverage against the company's cash buffer and monitor working capital trends, debt maturities and efforts to improve cash management. For broader shareholder context and investor activity, see: Exploring Beijing Orient Landscape & Environment Co., Ltd. Investor Profile: Who's Buying and Why?
Beijing Orient Landscape & Environment Co., Ltd. (002310.SZ) - Valuation Analysis
The valuation profile for Beijing Orient Landscape & Environment Co., Ltd. (002310.SZ) is dominated by negative profitability and stretched market multiples relative to fundamentals. Key valuation signals point to a company trading at high premiums in price-based metrics while showing negative earnings-based measures.- Enterprise Value-to-EBITDA (EV/EBITDA): -11.35 - reflects negative EBITDA and results in a negative EV multiple.
- Price-to-Sales (P/S): 38.61 - indicates markets are pricing the stock at a large premium to current revenue.
- Price-to-Book (P/B): 8.76 - shows the equity is trading well above book value per share.
- Earnings yield: -40.43% - negative, signaling losses on an earnings basis.
- Price-to-Earnings (P/E): -2.47 - negative P/E consistent with net losses.
| Metric | Value | Implication |
|---|---|---|
| EV/EBITDA | -11.35 | Negative EBITDA - multiple not comparable to profitable peers |
| P/S | 38.61 | Extremely high sales multiple; high expectations for future sales or growth |
| P/B | 8.76 | Significant premium over book value |
| Earnings Yield | -40.43% | Negative earnings - investors receive no earnings return |
| P/E | -2.47 | Negative due to net losses - not meaningful for standard P/E comparisons |
Beijing Orient Landscape & Environment Co., Ltd. (002310.SZ) - Risk Factors
Beijing Orient Landscape & Environment Co., Ltd. operates in a capital- and project-intensive segment (landscape architecture, municipal environmental engineering, ecological restoration) that exposes the company to a combination of market, operational, financial and regulatory risks. The following sections break down the principal risk drivers with supporting numeric context to help investors assess downside exposure.- Industry competition and market fragmentation - intense price and bid-pressure from many local and national players.
- High leverage and liquidity constraints - elevated debt levels have compressed financial flexibility and increased refinancing risk.
- Regulatory and legal risk - government procurement rules, environmental standards, and dispute/litigation exposure may lead to fines, contract penalties or delayed payments.
- Execution risk - project delays, cost overruns, and working-capital absorption on long-tail contracts can erode margins.
- Reputational risk - publicized financial stress or project failures can reduce new contract wins and limit partnerships.
- Macro and market risk - cyclical downturns in property, municipal spending cuts or capital-market volatility can reduce new order intake and worsen cash flow.
| Metric (fiscal year) | 2021 | 2022 | 2023 (est./reported) |
|---|---|---|---|
| Revenue (RMB bn) | 10.6 | 7.8 | 6.5 |
| Net profit / (loss) (RMB bn) | 0.15 | (1.20) | (0.75) |
| Total assets (RMB bn) | 39.0 | 36.2 | 34.0 |
| Total liabilities (RMB bn) | 27.0 | 28.5 | 29.0 |
| Interest-bearing debt (RMB bn) | 11.0 | 12.4 | 12.1 |
| Debt-to-asset ratio | 69.2% | 78.7% | 85.3% |
| Current ratio | 0.88 | 0.65 | 0.72 |
- Elevated debt-to-asset (>70%) and sizeable interest-bearing debt materially increase refinancing and covenant risk; a single quarter of weak collections can stress liquidity.
- Current ratios below 1.0 indicate short-term liabilities exceed current assets, heightening rollover and working-capital risk on new projects.
- Sustained net losses and falling revenue reduce internal cash generation, forcing reliance on asset sales, equity injections, or costly financing.
- Project concentration and delayed receivables amplify the operational risk of cost overruns cascading into credit deterioration.
- Order backlog and new contract wins (both value and margin).
- Receivables aging and government/municipal counterparty payment behavior.
- Debt maturities, refinancing status and any covenant waivers or restructuring terms.
- Legal or regulatory announcements, including bondholder or creditor actions.
- Public statements on asset disposals, capital increases or strategic partnerships that affect solvency.
Beijing Orient Landscape & Environment Co., Ltd. (002310.SZ) - Growth Opportunities
Beijing Orient Landscape & Environment Co., Ltd. (002310.SZ) is positioned within China's expanding environmental protection and urban ecological services market, offering multiple growth vectors as policy support, urbanization, and green infrastructure demand continue to accelerate. Macro tailwinds and company-level strategic moves can translate into measurable revenue and margin expansion if execution and balance-sheet repair progress.- Market context: China's environmental protection industry continues to grow - industry market size is estimated at roughly RMB 1.6-2.0 trillion in the early 2020s with a multi-year CAGR in the high single digits (approximately 6-10%).
- Policy tailwinds: Central and local government budgets for pollution control, ecological restoration and urban greening have increased, creating steady tender pipelines for contractors and service providers.
- Addressable segments: Urban landscaping, ecological remediation, sewage and sludge treatment, and environmental operation & maintenance (O&M) services each present distinct revenue pools.
- Strategic partnerships and government collaboration - partnering with municipal governments and SOEs for large-scale projects can secure multi-year contracts and recurring O&M revenues.
- Renewable and low-carbon projects - expanding into solar rooftop greening, carbon sequestration landscaping, and integration with distributed renewables can create cross-sell opportunities.
- Technological upgrades - adopting digital environmental monitoring, GIS-enabled landscape planning, smart irrigation and remote O&M can reduce operating costs and improve gross margins.
- Diversification - moving into adjacent services (water treatment, soil remediation, urban microclimate solutions) reduces single-segment exposure and stabilizes cash flows.
- Operational and financial improvement - working capital optimization, margin enhancement through process automation, and targeted capex can unlock free cash flow for reinvestment.
| Opportunity | Near-term Potential (1-3 yrs) | Medium-term Impact (3-5 yrs) | Indicative Revenue/Uplift |
|---|---|---|---|
| Municipal landscaping & O&M contracts | Large pipeline of tenders; recurring revenue | Higher contract renewal rates; stable margins | Potential +10-25% incremental revenue vs. baseline |
| Renewable integration (solar, green roofs) | Pilot projects and PPPs | Scalable projects across cities | Potential +5-15% revenue, margin-accretive over time |
| Environmental tech & digital services | Cost reduction; premium service offerings | Higher gross margin and retention | Gross margin uplift of 2-6 percentage points |
| Water & soil remediation | Feasibility & early contracts | Diversified revenue base; cross-selling | Potential +8-20% revenue contribution |
| Strategic M&A / Partnerships | Small bolt-on acquisitions | Accelerated scale and capabilities | One-time revenue jump; long-term synergy capture |
- Bid focus-prioritize high-margin, long-duration municipal O&M and PPP projects with predictable cash flow.
- Capex allocation-target technology investments (remote sensing, irrigation automation) with payback < 3 years.
- Balance-sheet repair-reduce receivable days and optimize payables to free working capital for growth bidding.
- Selective M&A-acquire specialists in remediation or digital environmental monitoring to accelerate capability buildout.
- Revenue mix shift toward recurring O&M and PPP contract income (target >30-40% of revenue).
- Gross margin expansion (target +3-6 ppt through tech and scale).
- Days Sales Outstanding (DSO) and net working capital trends - improvement signals healthier cash conversion.
- Order book growth and contract backlog (annualized contracted revenue coverage).
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