Financial Performance - Total revenue for 2022 was RMB 3,878.47 million, a decrease of 3.41% compared to RMB 4,015.23 million in 2021[8]. - Gross profit for 2022 was RMB 610.38 million, with a gross margin of 15.74%, down from 27.48% in 2021, representing a decline of 11.85 percentage points[8][17]. - The company recorded a net loss attributable to equity holders of RMB 501.79 million for 2022, compared to a profit of RMB 160.75 million in 2021[8][17]. - The revenue from industrial waste resource recovery and treatment was approximately RMB 1.308 billion and RMB 1.217 billion, down 16.41% and 28.92% year-on-year, respectively[17]. - The group's consolidated gross profit margin for the year ended December 31, 2022, was 15.74%, a decrease of approximately 11.74 percentage points compared to 27.48% in 2021, primarily due to increased industry competition and rising costs in resource recovery operations[21]. - The net loss attributable to equity holders of the parent company for the year ended December 31, 2022, was approximately RMB 501.79 million, compared to a profit of RMB 160.75 million in 2021, largely due to a decrease in business from major customers and a decline in overall market waste volume[22]. - The financial cost for the year was approximately RMB 176.74 million, accounting for 4.56% of total revenue, an increase from 3.36% in 2021, primarily due to an increase in interest-bearing debt[45]. - The income tax expense for the year was approximately RMB 28.42 million, a decrease from RMB 35.67 million in 2021, mainly due to a decline in pre-tax profit[23]. - Administrative expenses for the year were approximately RMB 439,603,000, accounting for 11.33% of total revenue, up from 10.15% in 2021[71]. - The company recorded a loss for the year ended December 31, 2022, and the board does not recommend paying any final dividend for the year[123]. Assets and Liabilities - Total assets as of December 31, 2022, were RMB 11,705.96 million, while total liabilities were RMB 6,929.49 million[8]. - As of December 31, 2022, the total liabilities of the group were approximately RMB 6,929,486,000, an increase from RMB 6,365,415,000 in 2021, resulting in a debt-to-asset ratio of 59.2% compared to 53.88% in 2021[47]. - The group had current liabilities of approximately RMB 3,458,429,000 as of December 31, 2022, down from RMB 3,805,521,000 in 2021[47]. - As of December 31, 2022, the company's current liabilities exceeded current assets by approximately RMB 431,506,000[167]. - The company had available unused bank financing of approximately RMB 6,465,844,000 as of December 31, 2022[169]. Market and Operational Strategy - The company plans to focus on market expansion and key project development in 2023 to enhance operational performance[14]. - The company aims to enhance its core competitiveness in hazardous waste management and expand its market share through flexible pricing strategies[18]. - The overall hazardous waste market environment remains challenging, with significant reductions in hazardous waste output from customers and excess disposal capacity in some regions[39]. - The company aims to enhance market share and capacity utilization by focusing on hazardous waste management and expanding into high-difficulty waste segments[55]. - The company plans to accelerate the issuance of non-public A-shares to raise sufficient funds for development and expedite key project construction[55]. - The company is focusing on core hazardous waste operations and implementing a diversified market strategy to address intense competition[65]. - The company aims to focus on "dual carbon" growth points while solidifying its core business, anticipating a recovery in industrial production and an increase in hazardous waste volume in 2023[81]. - The company will implement "three precision management" strategies to maintain its leading position in a highly competitive market and improve operational performance[81]. - The environmental protection industry has seen increased competition due to significant capacity expansion and low processing prices, impacting the company's revenue and profit[84]. - The company will focus on internal management reforms and digital transformation to enhance efficiency and product value, thereby expanding its industry influence[84]. Research and Development - The company added 121 new patents in 2022, bringing the total to 602, with one technology recognized as internationally leading[10]. - R&D investment for the year was approximately RMB 169 million, remaining stable compared to the previous year[68]. Financial Management and Policies - The company has recognized credit impairment losses and asset impairment losses, which significantly impacted annual profits[34]. - The company has assessed its assets for impairment, ensuring that any asset's carrying amount is reduced to its recoverable amount if necessary[130]. - The company has not made any adjustments or changes to its profit distribution policy during the reporting period, which stipulates a cumulative cash distribution of no less than 30% of the average distributable profit over the last three years[99]. - The company has cumulatively distributed profits in cash from 2020 to 2022, meeting the requirement of distributing no less than 20% of the distributable profits for the year[121]. - The company confirmed that financial assets are initially recognized at fair value plus transaction costs, with trade receivables measured at their transaction price[184]. - The company applies a simplified approach to calculate expected credit losses for trade receivables and contract assets, establishing a provision matrix based on historical credit loss experience[195]. - The company recognizes any gains or losses from the termination of assets based on the difference between the net proceeds from the sale and the carrying amount of the asset[154]. Joint Ventures and Investments - The group established a joint venture, Jiyang City Guangye Energy Environmental Protection Co., Ltd., in November 2022, holding a 13% stake with an investment of approximately RMB 12,884,000[48]. - The company completed the sale of its 31% stake in Jiangsu Suquan Solid Waste Disposal Co., Ltd. for approximately RMB 40,600,000 in October 2022[75]. - The company entered into a framework agreement with Guangdong Anjiatai Environmental Technology Co., Ltd. on April 7, 2022, for hazardous waste disposal services[127]. Compliance and Risk Management - The company continues to strengthen pollution control facility management and enhance employee compliance awareness to minimize safety and environmental production risks[106]. - The company is closely monitoring interest rate risks and will consider a suitable mix of fixed and floating rate debt to manage these risks[50].

Financial Performance - For the year ended December 31, 2022, the total revenue was RMB 3,878,474 thousand, a decrease from RMB 4,015,230 thousand in 2021, representing a decline of approximately 3.4%[12] - The gross profit for 2022 was RMB 610,382 thousand, down from RMB 1,103,577 thousand in 2021, indicating a significant decrease of about 44.7%[12] - The net loss for the year was RMB 568,694 thousand, compared to a profit of RMB 155,842 thousand in 2021, marking a turnaround of approximately 463.5%[12] - The company reported a basic and diluted loss per share of RMB (57) for 2022, compared to earnings of RMB 18 per share in 2021[12] - The total equity attributable to the owners of the company decreased to RMB 4,055,874 thousand in 2022 from RMB 4,604,919 thousand in 2021, a decline of approximately 11.9%[7] - The company reported a net loss of RMB 501,792,000 for the year, compared to a profit of RMB 160,745,000 in 2021, reflecting a significant downturn[155] - The company’s comprehensive gross margin for the year ended December 31, 2022, was 15.74%, a decrease of approximately 11.74 percentage points compared to 27.48% in 2021, primarily due to increased industry competition and rising costs in resource-based operations[196] Assets and Liabilities - The company's total assets as of December 31, 2022, were RMB 8,679,039 thousand, slightly down from RMB 8,835,880 thousand in 2021, a decrease of about 1.8%[13] - Non-current liabilities increased to RMB 3,471,057 thousand in 2022 from RMB 2,559,894 thousand in 2021, reflecting an increase of approximately 35.6%[7] - As of December 31, 2022, the group's current liabilities exceeded current assets by approximately RMB 431,506,000[33] - The company's total liabilities increased to approximately RMB 6,929.49 million in 2022, up from RMB 6,365.42 million in 2021, resulting in a debt-to-asset ratio of 59.2%[86] - The financial position remains stable, with net current liabilities of approximately RMB 431.5 million as of December 31, 2022[185] Cash Flow and Financing - The company’s cash and cash equivalents at the end of 2022 were RMB 622,716 thousand, up from RMB 550,421 thousand in 2021, representing an increase of about 13.1%[13] - The group had cash and fixed deposits of approximately RMB 617,856,000, excluding restricted funds and pledged deposits, as of December 31, 2022[33] - The group has unutilized bank financing of approximately RMB 6,465,844,000 available as of December 31, 2022[33] - The company plans to raise up to RMB 1,200,000,000 through a non-public issuance of up to 263,780,130 new A-shares, pending approval from the China Securities Regulatory Commission[42] - The company has received approval from the China Securities Regulatory Commission for the proposed private placement of A-shares[129] - The company has a credit agreement with Guangsheng Finance, providing a credit limit of up to RMB 200 million for one year[138] Revenue Segments - The industrial waste treatment segment generated revenue of 1,388,261 million, up from 1,125,211 million, indicating a growth of about 23.4%[45] - The segment for municipal waste treatment reported a revenue of 158,447 million, a decrease from 166,917 million, reflecting a decline of approximately 5.5%[45] - Revenue from industrial waste resource recovery decreased to RMB 1,308.26 million in 2022, down 16.4% from RMB 1,565.16 million in 2021[1] - Precious metal recovery revenue surged to RMB 879.01 million in 2022, a significant increase of 341.5% from RMB 198.63 million in 2021[1] - The revenue from external customers in the recycling segment was 1,565,155 million, an increase from 1,246,900 million, representing a growth of about 25.5%[45] Operational Strategies and Future Outlook - The company plans to continue expanding its waste treatment services and invest in new technologies to enhance operational efficiency in the upcoming year[17] - The company plans to expand its market presence through new product development and strategic partnerships, focusing on industrial waste recycling and renewable energy utilization[45] - The company plans to focus on core hazardous waste operations and implement diversified market strategies to address intense competition[178] - The company is committed to enhancing its hazardous waste disposal capabilities and ensuring revenue and profit breakthroughs through technological upgrades[96] - The company anticipates that its production and operational performance in 2023 will not be adversely affected by significant changes in objective factors such as transportation and raw material costs[119] Cost Management - Total employee costs increased to RMB 761,078,000 in 2022 from RMB 682,233,000 in 2021, representing an increase of approximately 11.5%[153] - Sales costs rose significantly to RMB 2,099,263,000 in 2022, up from RMB 1,633,000,000 in 2021, marking an increase of about 28.5%[153] - The company is actively reducing costs through measures such as optimizing processes and energy consumption[179] - The financing cost rate for the year was 3.68%, a decrease of 22 basis points compared to the previous year[82] Research and Development - The company’s annual R&D investment, including increased development costs for intangible assets, was approximately RMB 169 million, remaining stable compared to the previous year[195] - Research and development expenses remained stable at RMB 162,828,000 in 2022 compared to RMB 163,283,000 in 2021, indicating a slight decrease of 0.3%[153] - The company has successfully launched its alkali carbonate copper industrialization project and added new high-end resource-based copper salt products, with a total of 602 authorized patents, including 121 new patents granted during the reporting period[195] Market Conditions and Competition - The total operating revenue for the year was approximately RMB 3.88 billion, a decline of 3.41% compared to RMB 4.02 billion in 2021, primarily due to reduced waste generation from upstream clients and intensified market competition[173] - The total hazardous waste collection volume decreased by approximately 16.65% year-on-year, with industrial waste resource recovery and treatment revenues at approximately RMB 1.31 billion and RMB 1.22 billion, down about 16.41% and 28.92% respectively compared to the previous year[171] - The average collection price for incineration waste dropped by over 15%, leading to a decrease in gross profit margin for hazardous waste business by 11.85 percentage points year-on-year[171] Governance and Compliance - The company’s board of directors believes that the ultimate controlling party is the State-owned Assets Supervision and Administration Commission of the Guangdong Provincial People's Government[9] - The group has adopted new/revised international financial reporting standards, including IAS 16, IAS 37, and IFRS 3, with no significant impact on consolidated financial statements[24][25][29] - The company has no significant contingent liabilities as of December 31, 2022[133]

Financial Performance - The company's revenue for Q3 2022 was ¥814,873,901.83, a decrease of 17.35% compared to the same period last year[4]. - The net profit attributable to shareholders was -¥110,656,799.46, representing a decline of 317.91% year-over-year[4]. - The net profit after deducting non-recurring gains and losses was -¥120,538,385.99, down 440.53% from the previous year[4]. - Total operating revenue for the current period reached ¥2,848,333,653.36, an increase of 7.83% compared to ¥2,642,161,075.64 in the previous period[20]. - Net profit for the current period was a loss of ¥129,769,434.25, compared to a profit of ¥171,757,862.24 in the previous period, representing a significant decline[21]. - Operating profit turned negative at ¥-130,041,551.49, down from ¥206,572,143.40 in the previous period[21]. - The total comprehensive income for the current period was a loss of ¥129,788,137.62, compared to a gain of ¥171,766,681.60 in the previous period[22]. - Basic and diluted earnings per share were both ¥-0.10, down from ¥0.18 in the previous period, reflecting the company's financial challenges[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥12,492,384,235.57, an increase of 5.75% compared to the end of the previous year[5]. - As of September 30, 2022, the company's total current assets increased to CNY 3,572,115,945.84 from CNY 2,977,328,966.77 at the beginning of the year, representing a growth of approximately 20%[16]. - The company's cash and cash equivalents rose significantly to CNY 1,019,340,092.93, up from CNY 550,421,369.21, indicating an increase of about 85%[16]. - Accounts receivable increased to CNY 1,089,489,354.08 from CNY 1,022,764,012.55, reflecting a growth of approximately 6.5%[16]. - Total liabilities reached CNY 7,263,385,627.93, compared to CNY 6,365,414,669.75 at the beginning of the year, marking an increase of about 14.1%[18]. - The company's total non-current liabilities rose to CNY 3,196,257,965.74 from CNY 2,559,893,053.71, indicating an increase of about 25%[18]. - The company's total equity attributable to the owners of the parent company decreased to CNY 4,467,151,631.92 from CNY 4,604,919,557.97, reflecting a decline of about 3%[19]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥184,219,857.17, a decrease of 28.13% compared to the same period last year[4]. - Cash flow from operating activities generated ¥184,219,857.17, a decrease from ¥256,341,301.95 in the previous period[23]. - Cash and cash equivalents at the end of the period totaled ¥1,017,639,452.50, an increase from ¥536,682,976.35 at the end of the previous period[24]. Research and Development - The company increased its R&D investment, with development expenditures rising by 40.73% to ¥22,109,796.35[9]. - Research and development expenses rose to ¥114,638,442.49, up from ¥99,592,897.45 in the previous period, indicating increased investment in innovation[20]. Operational Challenges - The company faced a significant decline in hazardous waste collection and disposal prices due to increased competition and reduced waste generation[6]. - The company is implementing cost reduction measures across various aspects, including production and human resources, to mitigate profit declines[6]. - The company plans to expand its collection volume and adopt more flexible market strategies to ensure operational cash flow[6]. Inventory and Other Assets - The company's inventory increased to CNY 681,452,914.97 from CNY 550,901,693.78, representing a growth of approximately 23.7%[16]. - Non-current assets totaled CNY 8,920,268,289.73, slightly up from CNY 8,835,881,696.96, indicating a growth of about 1%[17]. - The company's short-term borrowings decreased significantly to CNY 1,057,050,000.00 from CNY 1,944,231,778.18, a reduction of approximately 45.4%[18]. - The company reported a significant increase in cash and cash equivalents, up 85.19% to ¥1,019,340,092.93, primarily due to the receipt of short-term financing[9].

Financial Performance - Total operating revenue for the nine months ended September 30, 2022, was RMB 2,848,333,653.36, an increase of 7.83% compared to RMB 2,642,161,075.64 for the same period in 2021[6]. - Total operating costs increased to RMB 3,017,023,540.43, up 21.38% from RMB 2,486,101,801.05 in the previous year[6]. - Net profit for the nine months ended September 30, 2022, was a loss of RMB 129,769,434.25, compared to a profit of RMB 171,757,862.24 in the same period of 2021[7]. - Basic and diluted earnings per share for the nine months ended September 30, 2022, were both -0.10, compared to 0.18 for the same period in 2021[8]. - The total profit for the nine months ended September 30, 2022, was a loss of RMB 117,803,154.99, compared to a profit of RMB 198,548,543.05 in the same period of 2021[7]. - Other income for the nine months ended September 30, 2022, was RMB 46,174,503.46, slightly down from RMB 46,666,023.32 in the previous year[6]. - The company experienced a decrease in investment income, reporting RMB 6,434,489.30 for the nine months ended September 30, 2022, compared to RMB 11,436,637.09 in the same period of 2021[6]. Assets and Liabilities - As of September 30, 2022, the company's total assets amounted to RMB 12.49 billion, an increase from RMB 11.81 billion as of December 31, 2021, representing a growth of approximately 5.73%[5]. - The company's current assets totaled RMB 3.57 billion as of September 30, 2022, compared to RMB 2.98 billion at the end of 2021, indicating a rise of about 19.87%[3]. - The total liabilities of the company reached RMB 7.26 billion, up from RMB 6.37 billion, marking an increase of approximately 13.93%[4]. - The company's equity attributable to shareholders decreased to RMB 4.47 billion from RMB 4.60 billion, a decline of about 2.86%[4]. - Short-term borrowings decreased to RMB 1.06 billion from RMB 1.94 billion, a reduction of about 45.25%[4]. - The company's long-term borrowings increased to RMB 2.30 billion from RMB 1.17 billion, reflecting a growth of approximately 96.00%[4]. Cash Flow - Cash generated from operating activities was RMB 3,139,859,977.64 for the nine months ended September 30, 2022, compared to RMB 2,684,507,318.59 in the previous year, reflecting an increase of 16.96%[9]. - Operating cash inflow totaled $3,317,633,074.56, an increase from $2,725,068,967.14 year-over-year[10]. - Net cash flow from operating activities was $184,219,857.17, down from $256,341,301.95 in the previous year[10]. - Cash outflow from investing activities was $485,314,970.39, compared to $1,097,424,530.91 last year, resulting in a net cash flow of -$468,868,199.38[10]. - Cash inflow from financing activities reached $3,293,352,692.08, up from $2,926,981,257.12 year-over-year[11]. - Net cash flow from financing activities was $780,870,418.60, an increase from $719,130,675.88 in the previous year[11]. Operational Strategies - The company has plans for market expansion and new product development, although specific figures and timelines were not disclosed in the report[1]. - The company faced a significant decline in profit margins due to a drop in disposal prices and increased competition in the hazardous waste sector[11]. - The company plans to expand collection volumes and adopt flexible market strategies to ensure operational cash flow[12]. - Efforts will be made to reduce inventory and mitigate risks associated with metal price fluctuations[12]. - The company aims to implement cost-reduction measures across production, labor, and expenses to enhance profitability[12]. Research and Development - Research and development expenses for the nine months ended September 30, 2022, were RMB 114,638,442.49, up from RMB 99,592,897.45 in the same period of 2021, indicating a focus on innovation[6]. Inventory and Receivables - The company's inventory increased to RMB 681.45 million from RMB 550.90 million, representing a growth of approximately 23.69%[3]. - The company reported a significant increase in accounts receivable, which rose to RMB 1.09 billion from RMB 1.02 billion, an increase of about 6.00%[2]. - The company reported a significant increase in sales expenses, which amounted to RMB 76,391,731.12, down from RMB 87,007,124.74 in the previous year, showing a reduction of 12.67%[6]. Financial Reporting - The financial data reported for the nine months ending September 30, 2022, is unaudited and prepared in accordance with Chinese accounting standards[12].

Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 2,033,460 thousand, representing an increase of 22.7% compared to RMB 1,656,202 thousand for the same period in 2021[5] - Gross profit decreased to RMB 411,430 thousand, down 17.2% from RMB 496,667 thousand year-on-year[5] - Net profit for the period was RMB 6,715 thousand, a significant decline of 94.4% from RMB 120,372 thousand in the previous year[5] - The company reported total comprehensive income of RMB 6,707 thousand, down from RMB 120,395 thousand in the same period last year[6] - Basic and diluted earnings per share decreased to RMB 2.32, compared to RMB 12.69 for the same period in 2021[6] - The company reported a net cash outflow from investing activities of RMB 305,170 thousand for the first half of 2022, compared to RMB 485,163 thousand in the prior year, showing a reduction of approximately 37.1%[14] - Financing activities generated a net cash inflow of RMB 271,739 thousand in the first half of 2022, down from RMB 421,415 thousand in the same period of 2021, reflecting a decrease of about 35.5%[14] - The total cash and cash equivalents at the end of the reporting period were RMB 650,038 thousand, down from RMB 725,542 thousand a year earlier, indicating a decline of approximately 10.4%[14] - The company’s net profit for the first half of 2022 was RMB 162,052 thousand, compared to RMB 135,688 thousand in the same period of 2021, indicating a year-over-year increase of about 19.4%[14] - The comprehensive gross profit margin for the six months ended June 30, 2022, was 20.23%, down 9.76 percentage points from 29.99% in the same period of 2021[75] Assets and Liabilities - Non-current assets totaled RMB 8,945,884 thousand as of June 30, 2022, compared to RMB 8,835,880 thousand at the end of 2021[7] - Current liabilities decreased to RMB 3,615,750 thousand from RMB 3,805,521 thousand at the end of 2021[8] - Non-current liabilities increased to RMB 3,039,626 thousand as of June 30, 2022, compared to RMB 2,559,894 thousand as of December 31, 2021, reflecting a growth of approximately 18.7%[9] - Interest-bearing borrowings rose significantly to RMB 2,138,845 thousand from RMB 1,173,418 thousand, marking an increase of about 82.2% year-over-year[9] - The total equity attributable to the company's owners decreased to RMB 4,577,069 thousand from RMB 3,725,652 thousand, indicating a year-over-year increase of approximately 22.8%[9] - As of June 30, 2022, the company's current liabilities exceeded current assets by approximately RMB 499,968,000[19] - The total amount of loans receivable was RMB 71,800, a decrease from RMB 105,690, reflecting a decline of 32.1%[37] - Trade payables as of June 30, 2022, totaled RMB 681,506,000, down from RMB 839,843,000 as of December 31, 2021, indicating a decrease of about 19%[41] - The total amount of bonds payable as of June 30, 2022, was RMB 1,254,456,000, compared to RMB 1,118,809,000 as of December 31, 2021, representing an increase of approximately 12.1%[45] Revenue Streams - The revenue from renewable energy utilization was RMB 754,230 thousand, up from RMB 656,695 thousand in the previous year, indicating a growth of about 14.8%[29] - The company’s industrial waste treatment revenue was RMB 668,385 thousand, a decrease from RMB 731,219 thousand in the previous year, representing a decline of approximately 8.6%[29] - The company’s municipal waste treatment revenue was RMB 82,361 thousand, down from RMB 92,554 thousand in the previous year, reflecting a decrease of approximately 11%[29] - The revenue from precious metal recovery was RMB 375,380 thousand, which was a new revenue stream introduced this year[29] Costs and Expenses - The company experienced a financial cost of RMB 84,216 thousand, up from RMB 58,801 thousand in the previous year[5] - For the six months ended June 30, 2022, the sales cost was RMB 1,082,975, an increase of 77.1% compared to RMB 611,492 for the same period in 2021[31] - Research and development expenses increased to RMB 85,653, up from RMB 65,555, reflecting a growth of 30.6% year-over-year[31] - The total tax expense for the period was RMB 10,857, a decrease of 44.8% from RMB 19,524 in the previous year[33] - Administrative expenses for the six months ended June 30, 2022, were approximately RMB 189,960,000, representing 9.34% of total revenue, up from 11.01% in the same period of 2021[77] Strategic Initiatives - The company plans to focus on expanding its market presence and enhancing operational efficiency in the upcoming periods[3] - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency and revenue growth[28] - The company aims to enhance market expansion by implementing targeted "price-for-volume" strategies, focusing on regions such as the Guangdong-Hong Kong-Macao Greater Bay Area and Xinjiang, with a goal to achieve a record high in waste collection volume for the year[91] - The company is committed to cost reduction through initiatives like "streamlining operations" and "extreme cost reduction," aiming to optimize processes and improve asset utilization[93] Corporate Governance and Compliance - The financial data is prepared in accordance with International Financial Reporting Standards and is unaudited but reviewed by the audit committee[16] - The company has maintained compliance with all applicable corporate governance code provisions during the reporting period[109] - The audit committee, consisting of three independent non-executive directors, reviewed the group's financial results for the six months ended June 30, 2022[106] Shareholder Information - The company approved a final dividend of RMB 0.055 per share, totaling approximately RMB 48,360,000 for the year-end 2021[36] - The company did not declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[108] - As of June 30, 2022, the major shareholder Guangsheng Group holds 200,968,294 shares, representing 22.86% of the total shares[101] Legal and Dispute Matters - The company is involved in ongoing litigation regarding a construction project, with a court ruling requiring compensation of RMB 22,331,000, which the company disputes[56] - The company has resolved arbitration matters related to a share transfer agreement, resulting in payments totaling approximately RMB 55.07 million for damages and legal fees[97] - The company was ordered to pay RMB 27,733,000 in compensation to Qidi Company after offsetting debts, along with RMB 26,340,000 for subsidy losses and additional legal and arbitration fees totaling RMB 1,400,000[54]

Financial Performance - Dongjiang Environmental reported a revenue of 1.2 billion RMB for the first half of 2022, representing a year-on-year increase of 15%[15]. - The company's operating revenue for the reporting period reached RMB 2,033,459,751.53, representing a 22.78% increase compared to RMB 1,656,202,523.23 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was RMB 20,409,767.60, a decrease of 81.71% from RMB 111,617,181.76 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB -4,502,793.80, a decline of 104.15% compared to RMB 108,607,651.85 in the same period last year[21]. - The company reported a net profit margin of 12% for the first half of 2022, slightly up from 11% in the same period last year[15]. - Future guidance estimates a revenue growth of 10-15% for the full year 2022, driven by increased demand for environmental services[15]. - The company reported a significant drop in investment income, reporting CNY 4,937,899.97 compared to CNY 11,815,490.36 in the previous year[159]. - Net profit for the first half of 2022 was CNY 6,715,314.35, a significant decrease of 94.4% compared to CNY 120,371,917.10 in the first half of 2021[160]. Investment and Development - Dongjiang Environmental has invested 300 million RMB in new technology development for waste recycling processes, expected to be operational by Q4 2022[15]. - The company plans to expand its waste treatment capacity by 20% by the end of 2023, aiming to enhance operational efficiency[15]. - Research and development investment rose by 30.59% to ¥89,906,298.20, reflecting increased funding for Xiongfeng Environmental Protection projects[38]. - The company is actively pursuing the comprehensive utilization of waste lithium batteries and aims to establish a virtuous cycle of project investment and production[36]. - The company aims to enhance its market presence by focusing on high-quality copper and tin salt products, targeting top-tier clients in downstream industries[35]. - The company plans to continue strengthening market development and adopt a targeted "price-for-volume" strategy to enhance its market and sales system[34]. Environmental Commitment - Dongjiang Environmental is committed to sustainability, with plans to reduce carbon emissions by 25% by 2025 through innovative practices[15]. - The company is committed to continuous improvement in environmental performance and compliance with regulatory standards[75]. - The company has reported no instances of exceeding pollutant discharge limits during the reporting period[70]. - The company achieved a reduction in ammonia nitrogen emissions, with values of 0.0015 and 0.267, well below the limit of 1.5[74]. - The company is in compliance with the hazardous waste incineration pollutant control standards, with all emissions reported within the specified limits[72]. - The company has implemented pollution control facilities for wastewater and waste gas treatment, ensuring compliance with environmental standards[87]. Market Strategy and Competition - The company is exploring potential acquisitions in the environmental sector to enhance market presence and service offerings[15]. - The company faces challenges from increased competition and pressure on profit margins due to fluctuating prices of raw materials and services in the hazardous waste industry[33]. - The company plans to enhance market service capabilities, technological innovation, and operational management to strengthen core competitiveness[59]. - The company is at risk of talent loss due to increased competition for skilled professionals in the hazardous waste treatment sector[61]. - The company will implement a "recruit, train, utilize, and retain" strategy to maximize talent resources for high-quality development[61]. Financial Position and Liabilities - The company's total assets at the end of the reporting period were RMB 12,061,665,703.18, reflecting a 2.10% increase from RMB 11,813,210,663.73 at the end of the previous year[21]. - The total liabilities increased to 6,655,376,124.05 CNY from 6,365,414,669.75 CNY at the end of the previous year[152]. - The company has reduced its short-term borrowings from ¥1,944,231,778.18 to ¥1,064,420,000.00, a decrease of 7.64% in the proportion of total liabilities[42]. - The company reported a loan balance of RMB 8,423 million with Guangdong Guangsheng Financial Co., Ltd. at the end of the period, after a total loan amount of RMB 10,000 million during the period[109]. - The company’s total liabilities were CNY 5,502,038,390.00, resulting in a debt-to-equity ratio that reflects its financial leverage[187]. Corporate Governance and Compliance - The company has established a comprehensive industrial chain for hazardous waste treatment, holding qualifications for over 230 million tons/year of hazardous waste processing[30]. - The company has obtained hazardous waste operation permits from local environmental authorities, adhering to regulatory requirements[88]. - Emergency response plans for environmental incidents have been established and training exercises conducted to ensure preparedness[89]. - The company has developed self-monitoring plans for environmental impact, ensuring compliance with legal requirements and public transparency[90]. - During the reporting period, the company faced no significant administrative penalties related to environmental issues[91]. Shareholder Information - The total number of shares was 879,267,102, with 99.99% being unrestricted shares[128]. - Guangdong Guangsheng Holdings Group Co., Ltd. holds 22.86% of shares, totaling 200,968,294 shares, with 81,817,116 shares pledged[130]. - The company has not reported any changes in shareholding or share repurchase activities during the reporting period[129]. - The company has issued a total of 230 million yuan in bonds with a 3.20% interest rate, maturing in 2023[141]. - The company has issued 500 million yuan in bonds with a 3.79% interest rate, maturing in 2024[141].

Financial Performance - The company's revenue for Q1 2022 was approximately CNY 963.64 million, representing a year-on-year increase of 28.24% compared to CNY 751.43 million in the same period last year[4]. - The net profit attributable to shareholders decreased by 83.52% to CNY 5.24 million, down from CNY 31.78 million in the previous year[4]. - The net profit for the current period was -¥2,549,041.58, a significant decline compared to a net profit of ¥29,972,638.72 in the previous period[21]. - The company reported a total comprehensive income of -¥2,546,506.51, down from ¥29,963,872.83 in the previous period[22]. - The company’s investment income from joint ventures showed a loss of -¥4,739,267.53 compared to a gain of ¥1,966,111.42 in the previous period[21]. - The basic earnings per share decreased to ¥0.01 from ¥0.04 in the previous period[22]. Cash Flow and Operating Activities - The net cash flow from operating activities was negative CNY 11.65 million, a decline of 122.90% compared to a positive CNY 50.88 million in the same period last year[4]. - The cash flow from operating activities showed a net outflow of -¥11,653,444.20, contrasting with a net inflow of ¥50,884,434.23 in the prior period[25]. Costs and Expenses - The company reported a 40% increase in total operating costs, primarily driven by rising procurement costs for resource waste and increased costs associated with new precious metal recovery business[5]. - Total operating costs increased to ¥973,589,084.57 from ¥725,661,678.49, reflecting a rise of about 34.2%[19]. - Research and development expenses increased by 31.17% to CNY 41.90 million, reflecting the company's commitment to innovation and project investment[10]. - Research and development expenses increased to ¥41,901,428.68 from ¥31,944,281.61, marking a rise of approximately 31.2%[19]. - The company’s financial expenses rose to ¥42,847,830.48 from ¥26,680,019.77, indicating an increase of approximately 60.5%[19]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 12.16 billion, an increase of 2.92% from CNY 11.81 billion at the end of the previous year[4]. - The total assets of Dongjiang Environmental Co., Ltd. as of March 31, 2022, amounted to CNY 12,158,191,022.28, an increase from CNY 11,813,210,663.73 at the beginning of the year, reflecting a growth of approximately 2.9%[17]. - The company's current assets totaled CNY 3,128,038,230.88, up from CNY 2,977,328,966.77, indicating an increase of about 5.1%[16]. - The total liabilities increased to CNY 6,713,174,963.02 from CNY 6,365,414,669.75, representing a rise of approximately 5.5%[17]. - The company's long-term borrowings rose significantly to CNY 1,790,657,401.58 from CNY 1,173,417,545.51, indicating an increase of about 52.5%[17]. - The total liabilities to equity ratio stood at approximately 1.23, indicating a leverage increase compared to the previous period[17]. Equity and Shareholder Information - The total equity attributable to the owners of the parent company was CNY 4,609,997,661.79, slightly up from CNY 4,604,919,557.97, showing a growth of approximately 0.1%[18]. Strategic Initiatives - The company aims to achieve record high collection volumes for the year by enhancing market expansion efforts and providing diversified, high-quality value-added services[6]. - The company plans to strengthen its precious metal recovery business and extend its industrial chain while implementing cost reduction and efficiency improvement strategies[6]. Inventory and Receivables - Accounts receivable stood at CNY 1,024,845,235.41, slightly up from CNY 1,022,764,012.55, showing a marginal increase of about 0.2%[16]. - Inventory levels increased to CNY 612,340,444.51 from CNY 550,901,693.78, reflecting a growth of approximately 11.1%[16]. Cash and Cash Equivalents - The company's cash and cash equivalents rose to CNY 653,529,307.07 from CNY 550,421,369.21, marking an increase of around 18.7%[15]. - Cash and cash equivalents at the end of the period totaled ¥625,647,455.73, up from ¥531,582,547.85 at the end of the previous period[26].

Financial Performance - Total revenue for 2021 reached RMB 4,015,230 thousand, an increase of 21.3% from RMB 3,308,295 thousand in 2020[3] - Gross profit for 2021 was RMB 1,103,577 thousand, with a gross margin of 27.48%, down from 34.12% in 2020[3] - Net profit attributable to equity holders was RMB 160,745 thousand, a decrease of 47.4% compared to RMB 304,920 thousand in 2020[3] - The company achieved a total revenue of RMB 4.015 billion in 2021, representing a year-on-year growth of 21.37%[7] - The net profit attributable to shareholders was approximately RMB 161 million, a decrease of 47.28% compared to the previous year[14] - The gross profit margin for the main business declined by approximately 8.72 percentage points due to intensified market competition[14] - The company's comprehensive gross profit margin decreased to 27.48%, down 6.64 percentage points from the previous year, primarily due to increased competition and rising costs in the resource utilization sector[18] - Net profit attributable to equity holders of the parent company for the year was approximately RMB 160.7 million, a decline of 47.28% compared to the previous year, impacted by intensified competition and rising operational costs[19] Assets and Liabilities - Total assets increased to RMB 11,813,210 thousand, up from RMB 10,447,497 thousand in 2020[3] - The total liabilities increased to RMB 6,365,415 thousand from RMB 5,055,766 thousand in 2020[3] - The total assets increased to RMB 11.813 billion, up 13.07% from the beginning of the year[7] - Total liabilities increased to approximately RMB 6.365 billion, with a debt-to-asset ratio of 53.88%, up from 48.39% the previous year[24] - As of December 31, 2021, the company’s net assets reached RMB 5,447,795 thousand, showing a slight increase of 1.04% from RMB 5,391,731 thousand in the previous year[170] Operational Capacity and Projects - The company expanded its hazardous waste operating permit capacity to over 230,000 tons per year due to new project completions[6] - Six new incineration and landfill projects were completed, adding approximately 169,500 tons per year of hazardous waste processing capacity[6] - The company is currently constructing three key projects in Zhuhai and Jieyang, with a combined design capacity of 355,500 tons per year expected to be operational within two years[6] - The company aims to increase hazardous waste treatment capacity to 2.5 million tons by the end of 2022, optimizing its qualification structure and enhancing market share[32] Strategic Focus and Market Position - The company aims to enhance its strategic focus on resource utilization while continuing to deepen its core hazardous waste treatment business[6] - The company plans to accelerate strategic transformation and adjust its business structure in response to market changes and the national "dual carbon" strategy[14] - The company aims to enhance its competitiveness by focusing on resource recycling and expanding its market presence in key regions like Guangdong and Jiangsu[13] - The company is committed to participating in the carbon reduction initiative and pursuing long-term development opportunities in the green low-carbon economy[9] - The company plans to focus on the recycling of power batteries and the photovoltaic industry chain, seeking new market opportunities under the "dual carbon" strategy[33] Research and Development - The company is focusing on resource utilization and has increased its R&D investment, resulting in 93 new patents granted in 2021[6] - Research and development efforts are focused on sustainable technologies, with an investment of 50 million allocated for the upcoming year[51] Financial Management and Governance - The company issued RMB 500 million in medium-term notes and RMB 500 million in short-term financing notes, with interest rates of 3.79% and 3.20%, respectively, to optimize its debt structure[16] - The company has a profit distribution policy ensuring that cash dividends are not less than 20% of the distributable profits for the year and at least 30% over any three consecutive years[54] - The company has not made any adjustments to its profit distribution policy in the current year[55] - The company’s financial statements for the year ended December 31, 2021, were audited and confirmed to comply with listing rules regarding related party transactions[106] - The independent auditor's report confirms that the consolidated financial statements reflect the group's financial position as of December 31, 2021, in accordance with international financial reporting standards[154] Employee and Talent Management - The total number of employees as of December 31, 2021, was 5,265, an increase from 4,978 in 2020, with total employee costs amounting to approximately RMB 682,233,000[87] - The company faces risks of talent loss due to increasing competition in the hazardous waste treatment industry, and it plans to implement a "recruit, train, and retain" strategy to secure talent resources[36] Corporate Governance - The company emphasizes strong relationships with employees, suppliers, and customers to create value and share outcomes[110] - The company is committed to maintaining high standards of corporate governance and enhancing shareholder value through effective internal controls and transparent disclosures[120] - The board consists of nine members, including two women, demonstrating a commitment to diversity[131] - The company has adopted a code for securities trading by directors that is stricter than the standard code, with no violations reported during the reporting period[121] Environmental and Social Responsibility - In 2021, the company donated a total of RMB 832,700 to social welfare initiatives[116] - The company aims to provide comprehensive environmental services, focusing on waste resource utilization and harmless treatment processes[111] - The company has maintained compliance with relevant laws and regulations without any significant violations affecting its operations as of December 31, 2021[113]

Financial Performance - Total operating revenue for the three months ended March 31, 2022, was RMB 963,644,836.52, an increase of 28.2% compared to RMB 751,429,239.14 for the same period in 2021[8]. - Total operating costs for the same period were RMB 973,589,084.57, up from RMB 725,661,678.49, reflecting a 34.2% increase[8]. - Net profit for the three months ended March 31, 2022, was a loss of RMB 2,549,041.58, compared to a profit of RMB 29,972,638.72 in the same period of 2021[9]. - Operating profit for the three months ended March 31, 2022, was RMB 3,743,003.42, a decrease from RMB 39,634,004.76 in the same period of 2021[9]. - Total comprehensive income attributable to the parent company for the three months ended March 31, 2022, was RMB 5,241,505.40, compared to RMB 31,772,330.35 in the same period of 2021[10]. - The company reported a basic earnings per share of RMB 0.01 for the three months ended March 31, 2022, down from RMB 0.04 in the same period of 2021[10]. Assets and Liabilities - As of March 31, 2022, the company's total assets amounted to RMB 12,158,191,022.28, an increase from RMB 11,813,210,663.73 as of December 31, 2021, reflecting a growth of approximately 2.9%[6]. - The company's current assets totaled RMB 3,128,038,230.88 as of March 31, 2022, compared to RMB 2,977,328,966.77 at the end of 2021, indicating an increase of about 5.1%[3]. - The company's total liabilities reached RMB 6,713,174,963.02 as of March 31, 2022, compared to RMB 6,365,414,669.75 at the end of 2021, marking an increase of approximately 5.5%[5]. - The company's total equity stood at RMB 5,445,016,059.26 as of March 31, 2022, slightly down from RMB 5,447,795,993.98 at the end of 2021, indicating a decrease of about 0.1%[6]. Cash Flow - Cash flow from operating activities for the three months ended March 31, 2022, was RMB 1,053,352,260.70, compared to RMB 840,101,872.46 for the same period in 2021, indicating a 25.4% increase[11]. - The company reported a net increase in cash flow from operating activities, indicating improved liquidity despite the net loss reported[11]. - Cash and cash equivalents increased to RMB 653,529,307.07 from RMB 550,421,369.21, representing a growth of approximately 18.7%[2]. - Cash and cash equivalents increased by RMB 104.22 million, compared to a decrease of RMB 121.99 million in the previous period[13]. - The net cash flow from financing activities was RMB 318.04 million, up from RMB 100.57 million in the previous period[12]. - The cash outflow from operating activities totaled RMB 1.07 billion, with a net cash flow from operating activities of -RMB 11.65 million[12]. - The company reported a cash outflow from investment activities of RMB 202.16 million, compared to RMB 273.44 million in the previous period[12]. Expenses and Costs - Research and development expenses increased to RMB 41,901,428.68 from RMB 31,944,281.61, representing a 31.2% rise year-over-year[8]. - The total operating costs increased by about 40% year-on-year, primarily due to rising procurement costs of resource waste and increased costs from the new precious metal recovery business[14]. - The company experienced a significant increase in sales revenue from goods and services, reaching RMB 1,044,840,887.85 for the three months ended March 31, 2022, compared to RMB 827,435,292.53 in the previous year, a growth of 26.3%[11]. - Net profit decreased year-on-year, mainly due to intensified market competition and a decline in treatment prices, resulting in a gross margin drop of approximately 2.58%[14]. Strategic Initiatives - The company plans to enhance market expansion efforts to ensure record collection volumes for the year and to strengthen the precious metal recovery business[14]. - The company aims to implement strategies for cost reduction and efficiency improvement, alongside digital transformation initiatives[14]. Inventory and Receivables - The inventory increased to RMB 612,340,444.51 from RMB 550,901,693.78, reflecting a growth of approximately 11.1%[3]. - Accounts receivable rose to RMB 1,024,845,235.41 from RMB 1,022,764,012.55, showing a slight increase of about 0.2%[2]. Borrowings - Short-term borrowings decreased significantly from RMB 1,944,231,778.18 to RMB 1,207,486,236.73, a reduction of about 37.9%[5]. - The long-term borrowings increased from RMB 1,173,417,545.51 to RMB 1,790,657,401.58, representing a growth of approximately 52.5%[5]. - The company reported a decrease in employee compensation payable from RMB 55,140,121.59 to RMB 32,332,458.87, a decline of about 41.3%[5].

Financial Performance - The company's operating revenue for 2021 was ¥4,015,230,391.93, representing a 21.12% increase compared to ¥3,315,021,211.14 in 2020 [21]. - The net profit attributable to shareholders decreased by 46.98% to ¥160,744,963.02 in 2021 from ¥303,160,989.32 in 2020 [21]. - The net cash flow from operating activities dropped by 59.87% to ¥390,959,322.29 in 2021, down from ¥974,142,244.55 in 2020 [21]. - Basic earnings per share fell by 47.06% to ¥0.18 in 2021, compared to ¥0.34 in 2020 [21]. - Total assets increased by 13.07% to ¥11,813,210,663.73 at the end of 2021, up from ¥10,447,496,151.93 at the end of 2020 [21]. - The company reported a decrease in the weighted average return on equity to 3.50% in 2021 from 6.85% in 2020, a decline of 3.35% [21]. - The gross profit margin declined by approximately 8.72% year-on-year, impacting overall profitability [40]. - The company achieved a total revenue of RMB 4.015 billion, representing a year-on-year growth of 21.12% [40]. - The net profit attributable to shareholders was approximately RMB 161 million, a decrease of 46.98% compared to the previous year [41]. Dividend Policy - The company plans to distribute a cash dividend of 0.55 CNY per 10 shares to all shareholders, based on a total of 879,267,102 shares [5]. - The company reported a cash dividend of RMB 0.55 per share (including tax), totaling RMB 48,359,690.61, which represents 100% of the distributable profit [140]. - The company's distributable profit for the period was RMB 1,584,756,571.62 [140]. - The company has a clear cash dividend policy that aligns with its articles of association and shareholder resolutions [139]. - The company commits to a cash dividend distribution policy, with a minimum of 18% of the distributable profit to be allocated in cash each year, and a cumulative cash distribution of no less than 30% of the average distributable profit over any three consecutive years [197]. Environmental Responsibility - The company has a commitment to environmental responsibility and sustainability, as indicated in its annual report [16]. - The company is focusing on enhancing waste disposal capabilities and resource recycling as part of its strategic direction in response to national environmental policies [30]. - The company is committed to continuous improvement in environmental performance, aiming to exceed regulatory requirements in wastewater and emissions management [156]. - The company has implemented pollution discharge standards including GB8978-1996 and GB18484-2001 [150]. - The company is actively monitoring and managing its environmental impact through compliance with national standards [150]. - The company has established emergency response plans for environmental incidents and conducted training and drills in 2021 [170]. - The company has implemented new strategies to improve its waste management processes, including the introduction of advanced treatment technologies [159]. - The company is committed to sustainable development, balancing business growth with environmental protection and social responsibility [188]. Strategic Development - The company’s future plans and strategic developments are outlined, although they do not constitute a binding commitment to investors [5]. - The company’s management discusses market expansion strategies and potential mergers and acquisitions in the annual report [16]. - The company is exploring new market opportunities and potential acquisitions to strengthen its market position and service offerings [118]. - The company aims to increase hazardous waste processing capacity to 2.5 million tons by the end of 2022, optimizing its hazardous waste qualification structure [87]. - The company plans to enhance its resource recovery business and improve profit margins through technological upgrades and increased investment [87]. - The company is focusing on expanding its environmental services and enhancing its operational efficiency through strategic appointments in management [114]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach in the environmental sector [163]. Governance and Management - The company emphasizes the importance of accurate financial reporting, with key personnel confirming the authenticity and completeness of the annual report [4]. - The company has established a complete and independent governance structure, ensuring that the board, supervisory board, and management operate independently from the controlling shareholder [100]. - The company maintains a fully independent business operation, with no reliance on the controlling shareholder for its main industrial waste treatment business [100]. - The company has implemented a transparent performance evaluation and incentive mechanism for senior management, linking compensation to performance assessments [97]. - The board of directors convened 13 meetings in 2021, approving significant proposals such as the acquisition of Xiongfeng Environmental and personnel appointments [95]. - The company has established a robust investor relations management system to ensure timely and accurate information disclosure to all shareholders [97]. - The company has implemented a talent retention strategy to mitigate risks associated with talent shortages in the hazardous waste treatment industry [89]. Research and Development - Research and development investment totaled RMB 171 million, an increase of 17.94% year-on-year, with 93 new patents granted [43]. - The number of R&D personnel increased by 18.13% to 567 in 2021 from 480 in 2020, with the proportion of R&D personnel rising to 10.77% [60]. - The company is actively investing in research and development to enhance its service capabilities and technological advancements [118]. - The company has completed four key research projects related to hazardous waste resource utilization and deep processing, enhancing its technological capabilities [59]. Market Position and Competition - The company is facing risks from intensified industry competition and plans to enhance its operational efficiency and management effectiveness [89]. - The hazardous waste treatment industry is undergoing a transition from growth to maturity, with increasing market competition and potential consolidation during the "14th Five-Year Plan" period [31]. - The company has committed to avoiding substantial competition with Dongjiang Environmental Protection by rationally planning the business development direction of its controlled enterprises [194]. - The company will take proactive measures to avoid competition with Dongjiang Environmental Protection and its subsidiaries, ensuring that business opportunities are offered to Dongjiang first under reasonable terms [197]. Community Engagement and Social Responsibility - The company allocated 832,700 yuan for social welfare initiatives, including 400,000 yuan donated to the Beautiful Shenzhen Public Welfare Foundation [188]. - The company has established eight public-access environmental facilities, promoting transparency and community engagement in environmental protection [185]. - The company is committed to sustainable development, balancing business growth with environmental protection and social responsibility [188].