Financial Performance - For the year ended December 31, 2020, the company's revenue was approximately RMB 706,558,000, an increase of about 13.18% compared to 2019[16]. - The net profit for the year was approximately RMB 2,057,000, a significant recovery from a net loss of approximately RMB 48,213,000 in 2019[16]. - Basic and diluted earnings per share for the year were approximately RMB 0.0013, compared to a loss of approximately RMB 0.0923 per share in 2019[17]. - The company's revenue for the year ended December 31, 2020, was approximately RMB 706,558,000, an increase of about 13.18% compared to RMB 624,288,000 for the year ended December 31, 2019[27]. - Gross profit rose from approximately RMB 84,058,000 (gross margin of 13.46%) for the year ended December 31, 2019, to approximately RMB 99,499,000 (gross margin of 14.08%) for the year ended December 31, 2020[28]. - The company reported a total profit of approximately RMB 1,163,000 for the year ended December 31, 2020, compared to a loss of approximately RMB 47,670,000 in the previous year[37]. - The net loss attributable to the parent company decreased from approximately RMB 47,948,000 in 2019 to a net profit of approximately RMB 650,000 in 2020, resulting in a profit margin of 0.30% for 2020 compared to -7.68% in 2019[38]. - The increase in revenue was primarily due to higher sales prices and a significant rise in engineering income during the year[27]. Operational Strategy - The company plans to focus on the development strategy centered around "products + engineering + agricultural services + trade" in 2021[20]. - The company aims to enhance its overall operational capacity and competitive advantage through structural adjustments and concentrated efficiency[20]. - The company will actively expand its engineering business in southern Xinjiang and inland areas while developing agricultural service business nationwide[20]. - The company aims to strengthen its competitive advantage by focusing on four main business areas: products, engineering, agricultural services, and trade[44]. - The company has been focusing on digital agriculture and agricultural service business layouts[143]. Market and Industry Outlook - The company sees significant market opportunities due to the large market capacity and broad market prospects in the agricultural sector[19]. - The national plan includes the construction of 10 million mu of high-standard farmland and the development of 15 million mu of efficient water-saving irrigation in 2021[18]. - The company plans to construct 10 million mu of high-standard farmland and develop 15 million mu of efficient water-saving irrigation in 2021, aiming to enhance food security[42]. Financial Position and Ratios - As of December 31, 2020, the group's outstanding bank loans amounted to RMB 53,059,000, an increase from RMB 30,000,000 in 2019[45]. - The current ratio and quick ratio as of December 31, 2020, were approximately 2.09 and 0.93, respectively, showing a slight decrease from the previous year[47]. - The capital debt ratio as of December 31, 2020, was 9.31%, up from 5.28% in 2019, primarily due to increased bank loans[52]. - The company has not encountered any liquidity issues during the year ended December 31, 2020, and plans to utilize cash generated from operations for funding[52]. Corporate Governance - The board of directors recommended no final dividend for the year ending December 31, 2020, consistent with the previous year[65]. - The company has complied with corporate governance codes, although it previously did not meet the requirement for independent non-executive directors[69]. - The company has established three committees (Remuneration, Nomination, and Audit) to oversee various aspects of its operations[75]. - The board believes that having four independent non-executive directors provides a reasonable balance and safeguards the interests of the group and its shareholders[70]. - The company has adopted a standard code of conduct for securities trading, confirming compliance by all directors for the year ending December 31, 2020[94]. - The company has confirmed compliance with the relevant regulations under Chapter 14A of the Listing Rules regarding related party transactions[184]. Related Party Transactions - The company has entered into a total procurement agreement with its major shareholder Tianye Holdings, effective from January 1, 2021, to December 31, 2023, for the procurement of PVC resin, with prices determined based on market rates[179]. - The total sales agreement with Tianye Holdings, effective from January 1, 2021, to December 31, 2023, stipulates that Tianye Holdings will purchase products manufactured by the company, including drip irrigation belts and PVC/PE pipes, with prices based on market rates[179]. - The annual rent for the lease agreement with Tianye Holdings for factory premises is set at RMB 1,327,000, effective from July 1, 2020, to June 30, 2023[180]. - The company’s related party transactions have been reviewed and confirmed to be conducted on normal commercial terms[184]. Employee and Management Information - The company employed a total of 528 employees as of December 31, 2020, a slight decrease from 530 in 2019[57]. - The company incurred approximately RMB 8,381,000 in expenses related to employee retirement benefit plans for the year ended December 31, 2020[58]. - The company has a management team with extensive experience in finance and engineering, contributing to its operational capabilities[139]. - The company’s senior management compensation is determined based on operational performance and individual performance, with all senior management salaries remaining below RMB 1,000,000[188]. Shareholder Information - The company has a total of 519,521,560 shares issued, including domestic shares and H shares[161]. - Tianye Company holds 202,164,995 domestic shares, accounting for approximately 63.75% of the total issued domestic shares and 38.91% of the total issued share capital[165]. - Xinjiang Tianye (Group) Co., Ltd. holds 111,721,926 domestic shares, representing about 35.23% of the total issued domestic shares and 21.51% of the total issued share capital[165]. - Changmao Holdings Limited holds 14,407,000 H shares, which is approximately 7.12% of the total issued H shares and 2.77% of the total issued share capital[171]. - The company confirms that all directors and supervisors have signed service contracts with a fixed term of three years, which can be renewed upon shareholder approval[155]. Compliance and Risk Management - The board confirmed the effectiveness of the internal control system, with no significant deficiencies reported in risk management or compliance during the year[105]. - The group complied with all relevant laws and regulations with no significant violations or non-compliance reported for the year ended December 31, 2020[199]. - The company has faced various risks and uncertainties, which are discussed in detail in the management discussion and analysis section of the annual report[143].

Financial Performance - Total revenue for the six months ended June 30, 2020, was approximately RMB 352,711,000, an increase of about 21.19% compared to RMB 291,028,000 for the same period last year[1] - The unaudited net profit for the six months ended June 30, 2020, reached approximately RMB 262,000, compared to a net loss of RMB 487,000 for the same period last year[1] - The basic earnings per share for the six months ended June 30, 2020, was approximately RMB 0.0005, compared to a loss per share of RMB 0.0003 for the same period last year[1] - The company recorded an unaudited total revenue of approximately RMB 352,711,000 for the six months ended June 30, 2020, representing an increase of about 21.19% compared to RMB 291,028,000 for the same period last year[43] - Net profit for the six months ended June 30, 2020, was approximately RMB 338,000, compared to a net loss of RMB 185,000 in the same period of 2019[25] - Basic earnings per share for the six months ended June 30, 2020, was RMB 0.00065, compared to a loss per share in the same period of 2019[25] Revenue Breakdown - Revenue from drip irrigation belts and accessories decreased to RMB 84.97 million, down 19.7% from RMB 106.11 million in 2019[16] - Revenue from PVC/PE pipes decreased to RMB 154.38 million, down 7.2% from RMB 166.48 million in 2019[16] - Revenue from installation services significantly increased to RMB 85.46 million, up 426.5% from RMB 16.21 million in 2019[16] Assets and Liabilities - Total assets as of June 30, 2020, amounted to RMB 1,010,175,000, an increase from RMB 869,233,000 as of December 31, 2019[5] - Total liabilities as of June 30, 2020, were RMB 441,548,000, compared to RMB 300,868,000 as of December 31, 2019[5] - The total equity attributable to the owners of the parent company as of June 30, 2020, was RMB 559,628,000, compared to RMB 559,289,000 as of December 31, 2019[5] - Total accounts receivable as of June 30, 2020, amounted to RMB 270.70 million, an increase from RMB 236.86 million as of December 31, 2019[27] - The company’s total accounts payable as of June 30, 2020, was RMB 259,452,000, an increase from RMB 196,117,000 as of December 31, 2019[34] Cash Flow - Cash and cash equivalents as of June 30, 2020, were RMB 120,711,000, up from RMB 63,242,000 at the beginning of the year[9] - Net cash generated from operating activities for the six months ended June 30, 2020, was RMB 9,007,000, compared to a net outflow of RMB 15,488,000 for the same period last year[9] - The company reported a net cash inflow from financing activities of RMB 48,985,000 for the six months ended June 30, 2020, compared to an outflow of RMB 713,000 for the same period last year[9] Expenses - The corporate income tax expense for the six months ended June 30, 2020, was RMB 438,000, down from RMB 653,000 in 2019[21] - Unaudited selling expenses decreased by approximately RMB 9,692,000 or about 32.2%, totaling approximately RMB 20,417,000 for the six months ended June 30, 2020, compared to RMB 30,109,000 for the same period last year[45] - The company’s financial expenses for the six months ended June 30, 2020, were approximately RMB 854,000, an increase of about 35.2% compared to financial income of approximately RMB 582,000 for the same period last year[45] - The company’s impairment losses for the six months ended June 30, 2020, were RMB 1,320,000, slightly down from RMB 1,375,000 for the same period last year[46] Corporate Governance - The company has adopted strict corporate governance practices to enhance accountability and transparency, complying with the Corporate Governance Code during the six months ended June 30, 2020[76] - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed internal controls and financial reporting matters[75] - The company has confirmed that all directors and supervisors have complied with the standards set out in the Securities Trading Code during the six months ended June 30, 2020[77] - There are no known interests or potential conflicts of interest involving directors, supervisors, or management in competing businesses as of June 30, 2020[73] Shareholder Information - Major shareholders include Xinjiang Tianye Co., Ltd., holding 202,164,995 shares, representing 63.75% of the total issued domestic shares[64] - Tianye Holdings controls 202,164,995 shares of the company, equivalent to 63.75% of the total issued domestic shares[66] - The company is owned 7.12% by Changmao Holdings, which directly holds 14,407,000 H shares[3] - Mr. Ding, who fully owns Changmao Holdings, is deemed to have an interest in the 14,407,000 H shares held by Changmao Holdings[4] - Ms. Wang, Mr. Ding's spouse, is also deemed to have an interest in the same shares held by Changmao Holdings[5] Operational Insights - The company has 13 subsidiaries included in the consolidated financial statements for this period[12] - The company’s business operations are primarily conducted in China, with all transactions denominated in RMB, resulting in no significant foreign exchange risk[54] - The company aims to enhance its core competitiveness and sustainable development through a digital agricultural operation management system[50] - The company incurred expenses of approximately RMB 3,879,000 for employee retirement benefit plans in the six months ending June 30, 2020[56] - The company had approximately 531 full-time employees as of June 30, 2020[55] Other Information - The company did not recommend any interim dividend for the six months ended June 30, 2020, consistent with the previous year[1] - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2020[26] - The company reported no significant contingent liabilities as of June 30, 2020[53] - The company has no major investment plans as of June 30, 2020[59] - The company did not engage in any significant acquisitions or disposals of subsidiaries during the six months ending June 30, 2020[60] - There were no purchases, sales, or redemptions of the company's listed securities by the company or any of its subsidiaries during the six months ended June 30, 2020[80] - The company has not disclosed any matters after the six months ended June 30, 2020[79]

Financial Performance - For the year ended December 31, 2019, the company's revenue was approximately RMB 624,288,000, an increase of about 16.44% compared to 2018[12] - The net loss attributable to the owners of the parent company for the year was approximately RMB 47,948,000, compared to a net loss of RMB 47,637,000 in 2018[12] - The basic and diluted loss per share for the year was approximately RMB 0.0923, compared to RMB 0.0917 in 2018[13] - The company's revenue for the year ended December 31, 2019, was approximately RMB 624,288,000, an increase of about 16.44% compared to RMB 536,157,000 for the year ended December 31, 2018[23] - Sales of drip irrigation belts and accessories increased by approximately 42.52% to about RMB 135,089,000, while sales of PVC/PE pipes rose by approximately 23.15% to about RMB 391,562,000[23] - Gross profit increased from approximately RMB 45,536,600 (gross margin of 8.49%) for the year ended December 31, 2018, to approximately RMB 84,058,000 (gross margin of 13.46%) for the year ended December 31, 2019[26] - Operating costs for the year ended December 31, 2019, were approximately RMB 540,230,000, an increase of about 10.11% from RMB 490,620,000 for the previous year[27] - Selling expenses increased by approximately 34.21% to about RMB 52,722,000, accounting for approximately 8.45% of total revenue[29] - Management expenses rose by approximately 25.22% to about RMB 43,528,000, representing about 6.97% of total revenue[31] - The company reported an operating loss of approximately RMB 49,540,000 for the year ended December 31, 2019, compared to an operating loss of approximately RMB 48,622,000 for the previous year[34] - The increase in revenue was primarily due to higher sales volume and increased selling prices driven by market demand[23] Market and Strategic Focus - The company plans to optimize its product business, strengthen engineering operations, and develop digital agriculture and agricultural service businesses in 2020[16] - The company aims to align its strategies with the "13th Five-Year Plan" to achieve its business objectives for 2020[16] - The company recognizes the increasing importance of water-saving agriculture due to water resource shortages and ecological issues[14] - The market for efficient water-saving irrigation is expected to grow significantly, providing good development opportunities for the industry[15] - The company anticipates that the demand for water-saving irrigation products in China, especially in Xinjiang, will continue to grow[43] - The company plans to maintain good relationships with employees and enhance after-sales service while expanding its sales and distribution network[23] - The company is exploring potential acquisitions to enhance its product offerings and market reach, with a budget of 100 million RMB allocated for this purpose[167] - The management team emphasized the importance of strategic partnerships to drive growth, with plans to collaborate with local agricultural firms[167] Risks and Challenges - The company faces risks related to the collection of trade receivables, which may adversely affect profitability if customers delay payments[39] - Changes in tax incentives could lead to a corporate tax rate of 25%, negatively impacting the company's financial performance[40] - The company has not purchased product liability insurance, which poses a risk to its financial stability in case of claims[44] - The company is exposed to seasonal fluctuations in sales due to the agricultural growth cycle, which could affect profitability[49] - The company is vulnerable to raw material price volatility, particularly for PVC and PE resins, which are influenced by oil prices[50] - Increased competition in the water-saving irrigation industry may significantly impact the company's profitability and market share[48] Corporate Governance - The board of directors consists of seven members, including three executive directors and four independent non-executive directors, ensuring a balanced governance structure[110] - The board is responsible for formulating and reviewing the overall strategy and approving significant transactions and financial matters[118] - The board of directors highlighted the commitment to sustainability, aiming for a 50% reduction in water usage in their irrigation systems by 2025[167] - The board confirmed the independence of all independent non-executive directors as per the relevant regulations[195] - The company adopted the standard code of conduct for securities transactions as per the listing rules, and all directors confirmed compliance for the fiscal year ending December 31, 2019[131] Environmental and Social Responsibility - The company achieved a solid waste disposal rate of 100% in 2019, with liquid waste discharge compliance also at 100%[83] - The company reported a 6.2% decrease in water usage in 2019, totaling 105,130 cubic meters compared to 112,074 cubic meters in 2018[86] - The company's carbon dioxide emissions in 2019 were 19,455 tons, an increase of 404 tons from 2018, but the emissions per ten thousand tons of product decreased by 11%[85] - The company maintained a 100% recovery rate for production water, with no environmental pollution incidents reported in 2019[84] - The company actively engages in community investment by providing water-saving products and services to local areas lacking water resources[106] Employee Relations - The company employed a total of 530 employees as of December 31, 2019, down from 625 in 2018[71] - The company has a 100% return-to-work rate for employees after maternity leave in 2019[95] - The company has not experienced any occupational injuries or diseases in 2019, with a zero injury rate reported[94] - The company provides ongoing training to directors regarding the latest developments in listing rules and regulatory requirements[128] - The company contributes to employee welfare by paying mandatory insurance and housing fund contributions as per local regulations[100] Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[167] - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on innovative irrigation solutions[167] - Research and development investments increased by 30%, focusing on advanced irrigation technologies and sustainable practices[167] - The company is expanding its market presence, targeting new regions in Central Asia, aiming for a 25% market share increase in these areas[167]

Financial Performance - For the six months ended June 30, 2019, total revenue was approximately RMB 291,028,000, an increase of about 25.8% compared to RMB 231,373,000 for the same period last year[1] - The unaudited net loss for the six months ended June 30, 2019, was approximately RMB 487,000, a decrease of about 95.2% from a net loss of RMB 10,196,000 in the same period last year[1] - The basic loss per share for the six months ended June 30, 2019, was approximately RMB 0.0003, compared to RMB 0.0194 for the same period in 2018[1] - The company reported a total profit of RMB 7,156,000 for the six months ended June 30, 2019, down from RMB 8,961,000 in 2018[25] - The group recorded an unaudited total revenue of approximately RMB 291,028,000 for the six months ended June 30, 2019, representing an increase of approximately 25.8% compared to RMB 231,373,000 for the same period last year[46] - The unaudited gross profit for the six months ended June 30, 2019, was approximately RMB 47,486,000, with a gross profit margin of approximately 16.3%, up 7.4 percentage points from 8.9% in the previous year[47] Assets and Liabilities - Total assets as of June 30, 2019, amounted to RMB 1,009,085,000, an increase from RMB 957,773,000 as of December 31, 2018[7] - Total liabilities as of June 30, 2019, were RMB 392,994,000, compared to RMB 341,195,000 as of December 31, 2018[7] - Total equity attributable to owners of the parent as of June 30, 2019, was RMB 607,053,000, slightly down from RMB 607,238,000 as of December 31, 2018[7] - Trade receivables as of June 30, 2019, totaled RMB 203,074,000, a decrease from RMB 211,364,000 as of December 31, 2018[9] - Trade payables as of June 30, 2019, totaled RMB 226,109,000, an increase from RMB 217,514,000 as of December 31, 2018[34] - Other payables increased to RMB 31,169,000 as of June 30, 2019, compared to RMB 22,886,000 as of December 31, 2018[36] - As of June 30, 2019, the company's debt-to-equity ratio was 4.87%, unchanged from December 31, 2018[54] Cash Flow - The net cash used in operating activities for the six months ended June 30, 2019, was RMB (15,488,000), an improvement from RMB (26,984,000) in the same period last year[10] Dividends - The company did not recommend any interim dividend for the six months ended June 30, 2019, consistent with the previous year[1] - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2019, consistent with the previous year[32] Expenses - Selling expenses increased by approximately RMB 15,500,000 or about 106.1%, totaling approximately RMB 30,109,000 for the six months ended June 30, 2019, compared to RMB 14,609,000 in the previous year[48] - Management expenses rose by approximately RMB 3,400,000 or about 23.5%, totaling approximately RMB 17,879,000 for the six months ended June 30, 2019, compared to RMB 14,479,000 in the previous year[48] - The company incurred approximately RMB 4,821,000 in expenses related to employee retirement benefit plans for the six months ended June 30, 2019[59] Taxation - The company’s income tax expense for the six months ended June 30, 2019, was RMB 653,000, compared to RMB 325,000 in the same period of 2018[27] Corporate Governance - The company adhered to the corporate governance code as per the listing rules during the six months ending June 30, 2019[79] - All directors and supervisors confirmed compliance with the standard code of conduct for securities trading during the same period[80] - There are no provisions in the company's articles of association or Chinese law regarding preemptive rights for existing shareholders when new shares are issued[81] Shareholder Information - Major shareholders included Xinjiang Tianye Co., Ltd. holding 202,164,995 shares, representing 63.75% of the company's issued domestic shares[67] - The total number of issued shares was 519,521,560, including both domestic and H shares[68] - Longmao Holdings Limited held 14,407,000 H shares, accounting for approximately 7.12% of the total issued H shares[73] Operations - The company confirmed that its operations are primarily conducted in China, with all transactions denominated in RMB, resulting in no significant foreign exchange risk[57] - The company employed approximately 535 full-time employees as of June 30, 2019[58] - The company did not engage in any significant acquisitions or disposals of subsidiaries during the six months ended June 30, 2019[63] - There were no major investment plans as of June 30, 2019[61] New Standards - The company adopted the new leasing standards effective January 1, 2019, with a weighted average incremental borrowing rate of 4.698%[15] - The company’s total liabilities included lease liabilities of RMB 698,450,340 as of January 1, 2019, due to the adoption of the new leasing standards[18] Losses - The company reported a total comprehensive loss attributable to owners of the parent of RMB (10,091,000) for the six months ended June 30, 2019[8] - The group recorded an unaudited net loss attributable to the owners of the parent company of approximately RMB 185,000 for the six months ended June 30, 2019, a decrease of approximately RMB 9,906,000 compared to a net loss of RMB 10,091,000 in the previous year[52] Future Plans - The group plans to accelerate the construction and promotion of efficient water-saving demonstration bases and expand sales channels in response to the increasing demand for water-saving agricultural irrigation in China[53] - The group aims to enhance market revenue and competitiveness by increasing investment in the research and development of new products and technologies[53]

Financial Performance - For the year ended December 31, 2018, the revenue was approximately RMB 536,157,000, a decrease of about 27.36% compared to 2017[15] - The net loss attributable to the owners of the parent company for the year was approximately RMB 47,637,000, compared to a net profit of RMB 1,349,000 in 2017[15] - Basic and diluted loss per share for the year was approximately RMB 0.0917, compared to a basic and diluted loss per share of RMB 0.0026 in 2017[15] - The company's operating revenue for the year ended December 31, 2018, was approximately RMB 536,157,000, a decrease of about 27.36% compared to RMB 738,121,000 for the year ended December 31, 2017[26] - The company's operating loss for the year ended December 31, 2018, was approximately RMB 48,622,000, a decline of about RMB 50,814,000 compared to an operating profit of RMB 2,192,000 in the previous year[38] - The total operating cost for the year ended December 31, 2018, was approximately RMB 490,620,000, a decrease of about 25.45% from RMB 658,119,000 for the previous year[31] - Sales expenses increased by approximately 2.55% to about RMB 39,284,000, accounting for about 7.33% of total operating revenue[33] - Management expenses rose by approximately 27.77% to about RMB 34,760,000, representing about 6.62% of total operating revenue[35] Market and Industry Outlook - The demand for water resources is expected to increase, leading to intensified competition in the water-saving irrigation industry[16] - The market competition is expected to become increasingly fierce, directly impacting the company's economic benefits[16] - The Chinese government plans to add 100 million mu of efficient water-saving irrigation farmland, presenting new development opportunities for the industry[18] - The company anticipates that the Chinese government's focus on water-saving agriculture will lead to the addition of 10 million acres of efficient irrigation farmland[57] - The company faces significant competition in the water-saving irrigation industry, which may adversely affect its profitability[52] Strategic Initiatives - The company aims to enhance its competitiveness in domestic and international markets through diversification, differentiation, and high-end development strategies[18] - The company is focusing on upgrading products and expanding its capabilities in water conservancy project construction[18] - The company is committed to transforming and upgrading its operations while promoting mixed ownership reform[18] - The company aims to enhance its competitiveness through product upgrades, mixed ownership reforms, and improved project construction capabilities[57] Risks and Challenges - The company faced significant risks due to fluctuations in raw material prices, which increased production costs and reduced competitiveness[25] - The company is exposed to risks related to environmental regulations, which could lead to substantial fines or operational delays if not complied with[49] - The company is dependent on the prices of raw materials such as PVC and PE resin, which are influenced by oil prices[54] - The company has not received any product liability claims during the year, but it cannot guarantee against future claims that may impact its operations[48] Corporate Governance - The board of directors consists of six members, including four executive directors and two independent non-executive directors, ensuring a balanced governance structure[113] - The board held nine meetings during the fiscal year ending December 31, 2018, with all directors present[121] - The group has established three committees (remuneration, audit, and nomination) to oversee various aspects of corporate governance[120] - The group has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations during the reporting period[112] - The group plans to continue enhancing its governance practices to ensure transparency and accountability to shareholders[115] Employee and Social Responsibility - The total employee count as of December 31, 2018, was 625, a decrease from 790 in 2017[70] - The group incurred approximately RMB 13,159,000 in expenses related to retirement benefit plans for the year ended December 31, 2018[71] - The company provided over 40 hours of training for employees in 2018, focusing on various skills and management training[97] - The company strictly adheres to labor laws, prohibiting child labor and ensuring fair compensation for overtime work[98] - The company complies with local regulations by contributing to various insurance plans for employees, including pension and medical insurance[101] - The company is committed to corporate social responsibility, providing water-saving products and technical services to local areas lacking water resources[108] Environmental Impact - In 2018, the company achieved a 100% disposal rate for solid waste and a 100% compliance rate for liquid waste discharge[84] - The company reduced electricity consumption by 6,387,347 kWh and water usage by 7,694 cubic meters compared to 2017[86] - The company's carbon dioxide emissions increased by 77.9% from 10,708 tons in 2017 to 19,051 tons in 2018, with emissions per ten thousand tons of product rising by 168.5%[86] - Water consumption in 2018 was 112,074 cubic meters, a decrease of 0.064% from 119,768 cubic meters in 2017[88] Future Projections - The company provided a performance guidance for 2019, projecting a revenue growth of 10% to 12%[127] - New product development efforts included the launch of a smart irrigation system, which is expected to increase market share by 5% in the next fiscal year[127] - The company is planning to expand its market presence in Southeast Asia, targeting a 15% increase in sales from this region by 2020[127] - A strategic acquisition of a local competitor is under consideration, which could enhance the company's operational capabilities and market reach[127] - The company has allocated 200 million RMB for research and development in new technologies for water conservation[127] Shareholder Communication - The company aims to maintain ongoing dialogue with shareholders, utilizing the annual general meeting as a key communication platform[162] - The company maintains communication with shareholders through annual reports, quarterly performance announcements, and interim reports, all available for download on the company website[168] - The company engages with analysts and investors through meetings and discussions to strengthen relationships with the investment community[172] - The chairman actively prepares and personally hosts the annual general meeting to ensure shareholder opinions are conveyed to the board[164]