2023 年第一季度报告 第一季度财务报表是否经审计 (一)主要会计数据和财务指标 2023 年第一季度报告 | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------|-------| | | 单位：元 币种：人民币 | | | 项目 | 本期金额 | 说明 | | 非流动资产处置损益 | 264,261.98 | | | 计入当期损益的政府补助，但与公司正常经营业务密切相关，符合国家 政策规定、按照一定标准定额或定量持续享受的政府补助除外 | 6,771,024.37 | | | 除同公司正常经营业务相关的有效套期保值业 ...

Financial Performance - The net profit attributable to shareholders decreased by 9.77% year-on-year, while the net profit after deducting non-recurring gains and losses fell by 11.83% due to high fuel prices and a decline in advertising revenue[5]. - The net cash flow from operating activities decreased by 15.05% year-on-year, primarily due to a high base from government payments in the previous year[5]. - In 2022, the company's operating revenue was approximately ¥3.45 billion, a decrease of 0.51% compared to ¥3.47 billion in 2021[92]. - The net profit attributable to shareholders was approximately ¥943.98 million, down 9.77% from ¥1.05 billion in 2021[92]. - The basic earnings per share decreased by 9.56% to ¥0.4172 from ¥0.4613 in the previous year[74]. - The company's investment income decreased significantly by 66.04% to approximately CNY 9.76 million, indicating challenges in investment performance[104]. - Operating profit for the year was CNY 1,195,409,773.50, down 7.73% year-on-year, while net profit was CNY 999,137,523.56, a decrease of 6.98% year-on-year[124]. - The company reported a decrease in net profit after deducting non-recurring gains and losses by 11.83% to approximately ¥965.56 million from ¥1.10 billion in 2021[92]. Revenue and Costs - Operating revenue decreased compared to the same period last year, primarily due to the short-term impact on high-speed rail travel, a decline in advertising revenue, and a reduction in factoring financing business due to macroeconomic conditions[18]. - Operating costs increased compared to the same period last year, mainly due to rising fuel prices amid the continuous growth of heating area[18]. - The clean energy business generated approximately CNY 2.84 billion in revenue, with a gross profit margin of 36.58%, reflecting a 2.10% increase in revenue year-over-year[107]. - The advertising business reported revenue of approximately CNY 576.7 million, down 6.85% from the previous year, with a gross profit margin of 52.07%[107]. - Total sales expenses amounted to ¥131,271,518.08, a significant increase of 50.42% compared to the previous year, primarily due to increased advertising costs[139]. - Total management expenses were ¥150,018,174.91, reflecting a decrease of 2.60% year-on-year, attributed to enhanced cost control measures[139]. Strategic Initiatives - The company aims to expand its clean heating business and increase the proportion of green energy in its overall energy structure, responding to the "dual carbon" policy[12]. - The company is developing a smart energy operation platform and implementing new environmental protection technologies to enhance energy efficiency and reduce costs[12]. - The company aims to achieve a target of at least 20% zero-carbon heating by 2025, covering a project area of 5 million square meters[56]. - The company plans to enhance its hydrogen energy business through direct investment, project cooperation, and demonstration projects, focusing on hydrogen production, transportation, and application[56]. - The company is actively pursuing mergers and acquisitions in the heating sector to provide clean energy solutions in regions with clear heating policies[52]. - The company has established a strategic cooperation agreement with Beijing Gas Pinggu Co., Ltd. to explore distributed energy services and hydrogen energy projects[14]. Research and Development - R&D expenses totaled ¥21,663,092.61, accounting for 0.63% of operating revenue[26]. - The company has developed 54 authorized patents and 41 utility model patents as of December 31, 2022, with 8 out of 9 applied patents granted[14]. - The company is actively researching sodium-ion battery advancements to promote its energy storage business[12]. - The company is focusing on developing proprietary technologies in areas such as low-temperature heat utilization and intelligent temperature control systems[14]. - The company has a total of 110 R&D personnel, accounting for 3.69% of the total workforce, indicating a focus on innovation and development[111]. Market and Operational Insights - The high-speed rail digital media sector is experiencing rapid growth, providing continuous expansion opportunities for the company[12]. - The company emphasizes its competitive advantages in high-speed rail digital media networks, digital operations, and customer resources[12]. - The company operates in a relatively stable heating market due to government planning and approval for heating network construction[15]. - The average heating area served by the company in 2022 was approximately 72.26 million square meters, with a connected area of about 98.79 million square meters[124]. - The company is expanding the application of new technologies in heating management, utilizing IoT and big data for improved service response and precision[56]. Financial Position and Assets - The total assets increased by 24.04% to approximately ¥16.74 billion from ¥13.49 billion in 2021[92]. - The net assets attributable to shareholders rose by 21.18% to approximately ¥10.57 billion from ¥8.72 billion in 2021[92]. - Cash and cash equivalents increased to ¥7,903,468,562.72, representing 47.23% of total assets, up 44.70% from the previous year[142]. - Intangible assets rose by 101.24% to ¥599,256,708.54, primarily due to the acquisition of heating operation rights from He Li Heating[142]. - The company's capital reserve increased significantly by 160.94% to ¥1,940,848,794.94, mainly due to the public issuance of shares by its subsidiary Zhao Xun Media[142]. Human Resources and Governance - The company employed a total of 2,980 staff, including 11 in the parent company and 2,969 in major subsidiaries[197]. - The board of directors includes members with extensive experience, such as the chairman who has been in position since November 2016 and the president since November 2018[189]. - The audit committee consists of five members, including independent directors, ensuring thorough oversight of financial practices[195]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[192]. - The total pre-tax compensation for the board members during the reporting period amounted to 4.2024 million yuan[188].

Revenue and Profitability - Revenue for Q3 2022 was CNY 356,212,915.53, an increase of 3.26% compared to the same period last year[7] - Net profit attributable to shareholders was CNY 29,968,634.76, a decrease of 49.54% year-over-year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 60,751,573.29, down 12.17% from the previous year[7] - Basic earnings per share for Q3 2022 was CNY 0.0132, a decline of 49.39% compared to the same period last year[9] - Net profit for the first three quarters of 2022 was ¥672,642,025.63, a decrease of 10.1% from ¥748,410,017.90 in the same period of 2021[31] - The total profit for the first three quarters of 2022 was ¥828,689,067.86, down from ¥929,106,433.86 in the same period of 2021, reflecting a decline in profitability[31] - Operating income for the first three quarters of 2022 was CNY 327,772,168.88, a decrease of 49.8% compared to CNY 652,735,205.61 in the same period of 2021[45] - Net profit for the first three quarters of 2022 was CNY 318,444,566.59, down 50.1% from CNY 639,373,326.73 in the previous year[45] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 15,062,007,680.56, representing a 11.64% increase from the end of the previous year[9] - The company's total liabilities decreased to RMB 3,823,983,640.40 from RMB 4,525,725,885.78, a reduction of about 15.5%[25] - The total assets decreased to 7,612,190,827.84 RMB from 8,618,792,426.17 RMB, reflecting a contraction in the asset base[40] - The total liabilities decreased to 3,556,350,457.16 RMB from 4,587,227,361.89 RMB, indicating a reduction in financial obligations[42] Shareholder Equity - Shareholders' equity attributable to the parent company was CNY 10,258,840,785.62, up 17.61% year-over-year[9] - The company's total equity increased to RMB 11,238,024,040.16 from RMB 8,966,354,944.30, reflecting a growth of approximately 25.4%[27] - The equity attributable to shareholders rose to RMB 10,258,840,785.62 from RMB 8,722,782,082.08, marking an increase of approximately 17.6%[27] - The company's equity increased to 4,055,840,370.68 RMB from 4,031,565,064.28 RMB, demonstrating a slight growth in shareholder value[42] Cash Flow - The net cash flow from operating activities was not applicable for the current quarter[7] - The company's cash flow from operating activities showed a significant improvement, transitioning from net outflow to net inflow due to changes in factoring financing[15] - Cash inflow from operating activities totaled ¥1,618,408,726.61, a decrease from ¥1,694,498,502.20 in the previous year[35] - The net cash flow from operating activities was -78,432,729.53 RMB, an improvement from -312,730,532.47 RMB in the previous period, indicating a reduction in cash outflow[36] - Total cash inflow from financing activities reached 3,077,988,528.30 RMB, significantly higher than 1,154,200,884.77 RMB in the prior period, reflecting strong capital raising efforts[36] - The net cash flow from financing activities was 1,621,692,927.03 RMB, a substantial recovery from -1,425,641,606.33 RMB previously, showcasing improved financial stability[36] Expenses and Costs - Total operating costs increased to ¥1,380,556,498.57, up 13.4% from ¥1,217,143,377.88 in the previous year[28] - Research and development expenses increased by 491.26%, indicating a strong commitment to innovation and technology development[12] - Sales expenses surged to ¥93,930,223.45, significantly higher than ¥43,632,541.98 in the previous year, indicating increased marketing efforts[28] - The company reported a financial expense of -¥139,566,671.12, compared to -¥106,153,230.14 in the previous year, indicating a higher cost of financing[28] - The company reported a decrease in interest expenses to CNY 38,225,201.02 in 2022 from CNY 31,369,757.50 in 2021[45] Inventory and Receivables - Inventory levels rose by 63.54%, attributed to increased coal stockpiling for better heating service provision[12] - The number of receivables decreased significantly, with notes receivable down by 63.24% due to reduced bank acceptance bill settlements[12] - The inventory increased significantly to RMB 479,230,876.27 from RMB 293,037,638.02, representing a growth of about 63.7%[22] Other Income and Non-Operating Activities - Non-operating income from government subsidies amounted to CNY 3,494,436.49 for the quarter[10] - The company reported a 47.46% increase in other income, driven by higher resource utilization subsidies compared to the previous year[12] - Other income for the third quarter of 2022 was ¥15,557,997.34, up from ¥10,550,601.06 in the same quarter of 2021[31] Investment Activities - The company reported a total cash outflow from investing activities of 389,971,380.14 RMB, down from 538,757,017.82 RMB, suggesting a reduction in capital expenditures[36] - The company’s long-term equity investments increased to 1,753,902,560.13 RMB from 1,747,765,803.11 RMB, indicating a stable investment strategy[40]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,943,337,784.43, representing a 2.81% increase compared to CNY 1,890,171,768.71 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 10.35% to CNY 601,532,011.95 from CNY 671,013,009.96 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 674,952,279.57, down 9.06% from CNY 742,156,861.85 in the previous year[20]. - Basic earnings per share decreased by 10.08% to CNY 0.2658 from CNY 0.2956 in the same period last year[20]. - Operating profit decreased by 9.68% to ¥785,861,289.44, and net profit fell by 9.40% to ¥623,501,094.10, primarily due to rising fuel prices[36]. - The total comprehensive income attributable to the parent company decreased from CNY 671,012,272.30 to CNY 601,534,021.74, representing a decline of approximately 10.3%[136]. - The net profit for the period was CNY 308,510,692.41, down from CNY 628,628,736.83, indicating a decrease of about 51.0%[140]. Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -370,840,806.58, compared to CNY -628,106,793.80 in the same period last year[20]. - Total assets at the end of the reporting period were CNY 14,988,992,676.39, an increase of 11.09% from CNY 13,492,080,830.08 at the end of the previous year[20]. - Current assets rose to CNY 8,508,945,304.38, up from CNY 7,226,401,531.23, indicating an increase of about 17.7%[120]. - Cash and cash equivalents increased to CNY 6,720,856,846.49 from CNY 5,462,048,126.36, reflecting a growth of approximately 22.9%[119]. - Total liabilities decreased to CNY 3,800,121,819.60 from CNY 4,525,725,885.78, a reduction of about 16.0%[124]. - The total assets at the end of the reporting period are approximately 11.19 billion, showing a robust asset base[156]. Research and Development - The company has developed 50 authorized patents, including 12 invention patents, and has ongoing research projects aimed at enhancing energy efficiency and environmental protection[30]. - Research and development expenses rose by 5.92% to CNY 6,045,324.16, reflecting increased investment in R&D[40]. - The company established an Environmental Technology Research Institute in August 2021 to enhance its core capabilities in technology standards and integration[86]. Environmental Compliance - The company achieved compliance with the emission standards set by GB 13271-2014 for boiler air pollutants[68]. - The company has maintained compliance with national and local environmental protection standards, ensuring emissions are within limits[75]. - The company is committed to implementing ultra-low emissions and energy-saving transformation plans for coal-fired power plants[68]. - The company has implemented low-nitrogen combustion technology and SCR flue gas denitrification systems to control nitrogen oxides emissions[75]. - The company reported a total of 77.94 tons of particulate matter emissions in 2022, with a concentration limit of 30 mg/m3[68]. Business Operations - The main business operations include clean heating services, power supply, and high-speed rail digital media advertising, with a focus on environmentally friendly energy solutions[26]. - The company’s clean heating services are provided from November 1 to March 31, with a focus on centralized heating and steam supply to users in Shenyang[26]. - The company aims to optimize its layout and deepen its market penetration in response to the increasing demand for heating services in southern regions[26]. - The company’s subsidiary, Zhaoxun Media, became the first listed company in China’s high-speed rail media sector, enhancing its market presence and advertising capabilities[29]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 31,699[106]. - The largest shareholder, Lianzhong New Energy Co., Ltd., holds 1,198,817,284 shares, accounting for 52.39% of total shares[107]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the top two alone accounting for over 69%[107]. Risk Management - The company faces risks including raw material price fluctuations, with coal prices directly impacting operational efficiency, and plans to mitigate this through long-term partnerships and strategic procurement[50]. - The company has identified environmental compliance as a risk, with increasing standards leading to higher operational costs[53]. - The company is exposed to competition risks in the advertising sector, which may impact revenue if client spending decreases[53]. Corporate Governance - The company has committed to avoiding or minimizing related party transactions with the restructured listed company and ensuring fair market pricing for unavoidable transactions[92]. - The company guarantees the independence of the restructured listed company's personnel and financial operations, ensuring no interference from controlling shareholders[92]. - The company has established independent financial accounting departments and management systems for the restructured listed company and its subsidiaries[92].

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,741,832,457.28, representing a year-on-year increase of 2.64%[6] - The net profit attributable to shareholders was ¥670,505,211.82, showing a decrease of 4.40% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥739,844,500.77, down by 5.61% year-on-year[6] - Total operating revenue for Q1 2022 was CNY 1,741,832,457.28, an increase from CNY 1,697,068,977.14 in Q1 2021, representing a growth of approximately 2.6%[29] - Net profit for Q1 2022 was CNY 694,227,572.49, compared to CNY 721,697,693.36 in Q1 2021, reflecting a decrease of about 3.8%[32] - The total comprehensive income attributable to shareholders was CNY 670,504,859.04 in Q1 2022, compared to CNY 701,373,658.44 in Q1 2021, showing a decrease of approximately 4.4%[32] Cash Flow and Liquidity - The net cash flow from operating activities was -¥231,193,815.14, a decrease of 36.71% compared to the previous year[8] - Cash flow from operating activities for Q1 2022 was negative at -231,193,815.14 CNY, an improvement from -365,283,481.17 CNY in Q1 2021[35] - The net cash increase for the period was 1,657,488,255.89 CNY, compared to a decrease of -1,175,039,265.28 CNY in Q1 2021[37] - Cash and cash equivalents at the end of Q1 2022 totaled 7,051,956,434.66 CNY, up from 4,795,762,784.35 CNY at the end of Q1 2021[37] Assets and Liabilities - The total assets at the end of the period were ¥15,213,258,279.60, an increase of 12.76% from the end of the previous year[8] - Total assets increased to RMB 15,213,258,279.60 as of March 31, 2022, compared to RMB 13,492,080,830.08 at the end of 2021, reflecting a growth of approximately 12.8%[20] - The total liabilities decreased from CNY 4,525,725,885.78 in the previous period to CNY 3,646,824,180.21, a reduction of approximately 19.4%[29] - Total current liabilities rose to RMB 1,553,224,000.00 from RMB 1,310,160,000.00, an increase of approximately 18.5%[24] Shareholder Information - The number of shareholders at the end of the reporting period was 33,773, with the largest shareholder holding 50.77% of the voting rights[16] - The company has a total of 1,161,720,503 shares outstanding, with significant pledges on shares amounting to 255,560,445[16] - The company repurchased a total of 25,279,012 shares, accounting for 1.10% of the total shares outstanding as of December 31, 2021[19] Expenses and Investments - Research and development expenses increased by 290.04% compared to the end of the previous year, indicating a continued focus on R&D[12] - The company reported a significant increase in sales expenses by 140.32% due to higher advertising costs[12] - Investment income rose by 115.70% year-on-year, primarily due to increased returns from equity investments[12] - Research and development expenses for Q1 2022 were CNY 2,514,306.30, down from CNY 2,718,686.76 in Q1 2021, indicating a decrease of approximately 7.5%[29] - The company reported a total cash outflow from investing activities of 205,639,098.67 CNY, compared to 76,829,461.53 CNY in Q1 2021[37] - The cash paid for purchasing fixed assets and intangible assets was 75,615,473.54 CNY, an increase from 67,570,651.06 CNY in the previous year[37]

Financial Performance - In 2021, the company's operating revenue was CNY 3,467,955,369.06, a decrease of 3.61% compared to the previous year[23]. - The net profit attributable to shareholders of the listed company was CNY 1,046,246,032.22, down 37.93% year-on-year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,095,136,457.44, a decrease of 24.49% compared to the previous year[23]. - Basic earnings per share decreased by 37.38% to CNY 0.4613 compared to CNY 0.7366 in 2020[24]. - Operating profit for 2021 was CNY 1,295,527,406.55, down 38.81% year-on-year, while net profit was CNY 1,074,138,759.82, a decrease of 37.85% year-on-year, primarily due to the lack of receivable income, rising fuel prices, and losses from fair value changes of equity investments[37]. - The company reported a total revenue of CNY 1,697,068,977.14 in Q1 2021, with a net profit of CNY 701,373,378.91[28]. - The company reported a total revenue of ¥3,467,955,369.06, a year-on-year decrease of 3.61%[53]. - Operating costs increased by 17.82% to approximately ¥1.93 billion, primarily due to rising fuel costs[50]. - Clean energy business revenue was ¥2,785,792,613.79, down 7.57% from the previous year, with a gross margin of 40.65%, a decrease of 11.95 percentage points[54]. - The company experienced a significant decrease in engineering revenue, down 38.54% to ¥234,247,513.70, with a gross margin of 88.51%[54]. Cash Flow and Dividends - The net cash flow from operating activities increased by 83.31% to CNY 1,700,018,255.62[23]. - The proposed cash dividend distribution is CNY 1.30 per 10 shares, totaling CNY 294,169,260.19, which accounts for 52.02% of the net profit attributable to shareholders[8]. - The company has reported a total profit distribution amount of CNY 554,231,710.27 for the year, including the share repurchase amount[8]. - The net cash flow from operating activities surged by 83.31% to approximately ¥1.70 billion, attributed to improved collection of receivables[50]. Investments and Strategic Initiatives - In December 2021, the company invested CNY 100 million in Aide Man Hydrogen Energy Equipment Co., marking a strategic move into the hydrogen energy sector[37]. - The company established a hydrogen energy division in 2021 and signed a strategic cooperation agreement with the Shanghai Yangtze River Delta Hydrogen Energy Technology Research Institute[37]. - The company aims to expand its clean heating business and increase the proportion of green energy in its overall energy structure, responding to the "dual carbon" policy initiatives[40]. - The company is focused on expanding its clean energy and digital media business, leveraging its technological advantages and market position[44]. - The company plans to enhance its market presence by focusing on comprehensive energy projects and exploring investment opportunities in the hydrogen energy sector[97]. Operational Efficiency and Management - The company has a strong management team with extensive industry experience, optimizing operations through refined management practices[45]. - The company has implemented a deferred revenue model for connection fees, recognizing income over a 10-year period[43]. - The company is strategically located in Shenyang's emerging districts, enhancing its market potential and service capabilities[47]. - The company is focused on maintaining a robust governance structure, ensuring compliance with legal requirements and protecting shareholder rights[102]. - The company has established a comprehensive internal control system to enhance operational efficiency and risk management, ensuring compliance with regulatory requirements[137]. Environmental Compliance and Sustainability - The company is committed to environmental protection and has reported its emissions management practices as a key polluter[143]. - The company has implemented low-nitrogen combustion technology and various desulfurization systems to control emissions[156]. - The company has received multiple environmental impact assessment approvals for its heating source plants from 2003 to 2016[158]. - The company is actively conducting carbon emission assessments and participating in carbon trading pilot projects in Liaoning Province and Shenyang City[169]. - The company has adopted advanced technologies for pollution control, ensuring compliance with emission limits[156]. Risks and Challenges - The company faces risks related to fluctuating raw material prices, particularly coal, which could impact profitability as heating area increases[98]. - Aging pipeline equipment poses maintenance cost challenges, prompting the company to use high-quality materials for new installations and improve existing infrastructure[98]. - Climate variability directly affects heating efficiency, necessitating improved production management to control costs[98]. - The company acknowledges the potential consequences of failing to adhere to these commitments, including liability for any losses incurred by the restructuring company[176]. Corporate Governance - The board of directors consists of six members, including three independent directors, ensuring effective governance and decision-making processes[102]. - The company has independent directors who received remuneration of 10.00 million yuan each during the reporting period[109]. - The company has a clear governance structure with no significant differences from the regulations set by the China Securities Regulatory Commission[105]. - The company has committed to ensuring that all related party transactions are conducted at fair market prices to protect the interests of minority shareholders[176].

Financial Performance - The company's operating revenue for Q3 2021 was ¥344,950,331.93, representing a year-over-year increase of 6.96%[7] - The net profit attributable to shareholders for Q3 2021 was ¥59,390,855.12, a decrease of 73.12% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥69,168,149.95, down 16.29% year-over-year[7] - Total operating revenue for the first three quarters of 2021 was approximately ¥2.24 billion, a decrease of 5.2% compared to ¥2.36 billion in the same period of 2020[28] - Operating profit for the first three quarters of 2021 was approximately ¥918.97 million, down 37.8% from ¥1.48 billion in the same period of 2020[35] - Net profit for the first three quarters of 2021 was approximately ¥748.41 million, a decrease of 37.5% compared to ¥1.20 billion in the same period of 2020[35] - Total comprehensive income for the period was CNY 748,409,357.89, a decrease from CNY 1,196,084,497.07 in the previous year[37] - Basic and diluted earnings per share were CNY 0.3218, down from CNY 0.5068 year-over-year[37] Assets and Liabilities - The total assets at the end of the reporting period were ¥12,519,229,678.83, a decrease of 9.66% from the end of the previous year[10] - Total current assets decreased to ¥6,422,469,120.29 from ¥8,093,749,595.80 year-over-year[23] - Total assets decreased to ¥12,519,229,678.83 from ¥13,857,801,304.88 year-over-year[26] - The total liabilities decreased to ¥2,395,065,279.26 from ¥3,311,025,974.58 year-over-year[26] - The company's total liabilities amounted to approximately ¥3.77 billion, a decrease from ¥4.79 billion in the previous year[28] - Total equity attributable to shareholders was approximately ¥8.44 billion, down from ¥8.78 billion in the previous year[28] - Current liabilities rose to $3.47 billion, an increase of $158.05 million, indicating a growth of about 4.8%[45] - Total liabilities amounted to $5.02 billion, up by $226.96 million, representing an increase of approximately 4.8%[47] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥312,730,532.47, reflecting a significant change of 69.47%[10] - Cash inflow from operating activities totaled CNY 1,694,498,502.20, compared to CNY 1,315,959,700.66 in the same period last year, representing an increase of approximately 28.8%[41] - Net cash outflow from operating activities was CNY -312,730,532.47, an improvement from CNY -1,024,359,796.46 in the previous year[41] - Cash outflow from investing activities was CNY 538,757,017.82, down from CNY 949,830,627.66 year-over-year[41] - Net cash outflow from financing activities was CNY -1,425,641,606.33, compared to a net inflow of CNY 378,320,715.69 in the previous year[41] - Total cash outflow for paying dividends and interest was CNY 938,770,103.82, up from CNY 501,994,364.82 year-over-year[41] Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,463[16] - The largest shareholder, Lianzhong New Energy Co., Ltd., holds 1,161,720,503 shares, representing 50.77% of total shares[16] - The company repurchased 20,540,960 shares, accounting for 0.90% of total shares[20] Research and Development - The company reported a significant increase in research and development expenditures by 453.49% year-over-year[12] - Research and development expenses for the first three quarters of 2021 were approximately ¥8.59 million, slightly down from ¥8.82 million in the same period of 2020[31] Other Financial Metrics - The weighted average return on equity was 0.01%, a decrease of 2.76 percentage points compared to the same period last year[10] - The company reported a financial expense of approximately -¥106.15 million, compared to -¥100.28 million in the previous year[31] - The deferred income tax liabilities were approximately ¥61.13 million, down from ¥71.45 million in the previous year[28] - The company reported a goodwill of $40.44 million, unchanged from the previous period[45] - Deferred income tax assets were recorded at $28.26 million, consistent with prior figures[45] - The company has a lease liability of $68.91 million, reflecting its commitment to long-term leases[47] - The total non-current liabilities stood at $1.55 billion, an increase of $68.91 million compared to the previous period[47] - The company reported a retained earnings of $5.27 billion, indicating strong profitability retention[47]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,890,171,768.71, a decrease of 7.16% compared to the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥671,013,009.96, down 28.52% year-on-year[23]. - The net profit after deducting non-recurring gains and losses was ¥742,156,861.85, a decrease of 18.92% compared to the previous year[23]. - The basic earnings per share for the first half of 2021 was ¥0.2956, a decline of 27.96% from ¥0.4103 in the same period last year[23]. - Operating profit was ¥870,077,331.37, down 29.77% compared to the previous year[38]. - Net profit reached ¥688,170,650.46, reflecting a decline of 29.52% year-on-year[38]. - The total comprehensive income for the period was CNY 688,169,912.80, compared to CNY 976,412,063.18 in the previous period, representing a decrease of approximately 29.5%[122]. - The company reported a profit distribution of approximately -907.03 million, indicating a significant loss for the period[138]. Assets and Liabilities - The total assets at the end of the reporting period were ¥13,113,734,648.40, down 5.37% from the end of the previous year[23]. - Total liabilities were reported at ¥4,421,566,544.13, down from ¥4,788,711,460.40, indicating a reduction of 7.7%[110]. - The total equity attributable to shareholders was CNY 4,050,999,603.91, down from CNY 4,489,640,089.03[117]. - The total assets at the end of the reporting period stand at CNY 8,021,103,024.53, indicating a robust asset base[143]. - The total liabilities and equity remained stable at approximately 8.78 billion, indicating no significant changes in the capital structure[138]. Cash Flow - The company reported a net cash flow from operating activities of -¥628,106,793.80, indicating a worsening cash flow situation[23]. - The cash flow from financing activities changed from net inflow to net outflow, mainly due to a decrease in bank loans and share buybacks[42]. - The net cash flow from operating activities was -628,106,793.80 RMB, an improvement from -1,101,186,505.28 RMB in the previous period, indicating a reduction in cash outflow[131]. - The cash inflow from operating activities was CNY 1,015,883,602.05, compared to CNY 754,275,143.04 in the previous period, marking an increase of approximately 34.7%[126]. Research and Development - The company has developed 39 authorized patents, including 9 invention patents and 29 utility model patents, enhancing its technological competitiveness in the clean heating sector[32]. - The company is investing in R&D, allocating $D million towards the development of new technologies and products[160]. - Research and development expenses for the first half of 2021 were CNY 5,707,223.88, slightly down from CNY 6,138,279.93 in the same period of 2020[120]. Environmental Compliance - The company has reported specific emissions data, including a sulfur dioxide emission level of 35 mg/m3, which is below the regulatory limit of 200 mg/m3, indicating compliance with environmental standards[62]. - The company has implemented low-nitrogen combustion technology and various desulfurization systems to control emissions effectively, ensuring compliance with national and local environmental standards[71]. - The company has established an emergency response plan for environmental incidents, demonstrating preparedness for potential environmental emergencies[72]. - The company is focused on expanding its pollution control facilities to enhance environmental protection measures[71]. Strategic Initiatives - The company is focusing on expanding its clean heating services in response to the increasing demand in southern regions, aligning with national carbon neutrality goals[28]. - A strategic cooperation agreement was signed with Huawei Cloud to advance smart heating solutions[38]. - The company plans to expand its market presence through both organic growth and external expansion strategies[36]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the G sector[160]. Risk Management - The company has identified potential risks in its management discussion and analysis section, which investors should be aware of[9]. - The company faces risks related to raw material price fluctuations, particularly coal, which is essential for heating operations[52]. - Aging pipeline equipment poses a risk, leading to rising maintenance and replacement costs[52]. - Environmental compliance is critical, as the company’s operations must meet increasingly stringent national standards[52]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 40,666[96]. - The largest shareholder, Lianzhong New Energy Co., Ltd., held 1,161,720,503 shares, representing 50.77% of the total shares[96]. - The company has pledged to maintain the independence of its personnel and organizational structure following the major asset restructuring[82]. - The company has committed to ensuring that any related party transactions are conducted at fair market prices to protect the interests of minority shareholders[79]. Financial Reporting - The financial report was approved for release on August 26, 2021, reflecting timely financial disclosures[149]. - The company adheres to the Chinese Accounting Standards, ensuring compliance and transparency in financial reporting[150]. - The accounting period follows the calendar year, from January 1 to December 31[153]. - The company's accounting currency is RMB, aligning with its operational base in China[157].

Financial Performance - The company's operating revenue for 2020 was CNY 3,598,009,405.52, representing a 5.94% increase compared to CNY 3,396,169,209.85 in 2019[24]. - The net profit attributable to shareholders for 2020 was CNY 1,685,477,038.16, which is a 5.90% increase from CNY 1,591,538,410.04 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 5.72% to CNY 1,450,226,011.21 from CNY 1,538,268,470.61 in 2019[24]. - The net cash flow from operating activities for 2020 was CNY 927,377,471.38, down 35.53% from CNY 1,438,415,964.57 in 2019[24]. - As of the end of 2020, the total equity attributable to shareholders was CNY 8,776,437,870.18, an increase of 16.06% from CNY 7,562,153,591.36 at the end of 2019[24]. - Basic earnings per share rose by 5.90% to CNY 0.7366, while diluted earnings per share remained the same[27]. - The company's total assets increased by 14.51% year-on-year, reaching approximately CNY 13.86 billion[27]. - The company's operating profit for 2020 was CNY 2,117,112,845.25, which is a 1.89% increase year-on-year[46]. - The company reported a significant increase in cash flow from financing activities, amounting to CNY 602,424,528.47, a 355.18% increase compared to the previous year[49]. Business Operations - The company primarily engages in clean heating services and high-speed rail digital media advertising, focusing on clean energy utilization and efficient energy services[35]. - The company plans to continue expanding its heating services and improve operational efficiency in the upcoming quarters[27]. - The clean heating subsidiary, Hunnan Thermal Power, reported a revenue of CNY 1,223,974,757.17, a year-on-year increase of 7.71%[46]. - The high-speed rail digital media business generated a revenue of CNY 488,063,558.12 in 2020, reflecting a growth of 11.93%[46]. - The company achieved a planned heating area target of 357 million square meters in 2020, with a combined heat and power generation ratio increased to 60%[39]. - The company is positioned to capitalize on the growing demand for heating services in southern regions due to climate commitments[35]. - The company plans to expand its clean heating business while focusing on green energy and integrating smart energy solutions[46]. - The company is focusing on high-tech capabilities in the heating industry to address the significant market potential in southern heating solutions[71]. Research and Development - In 2020, the company conducted 7 R&D projects and obtained 15 patents, with a total of 37 authorized patents by the end of the year[39]. - The company has developed innovative technologies, such as the "heat pump self-cleaning technology," which is recognized as a national demonstration project[89]. - The company has established a systematic employee training plan to enhance talent development and align with strategic needs[174]. Environmental Compliance - The company reported a total emission of 95.77 tons of particulate matter (PM) in 2020[128]. - Sulfur dioxide (SO2) emissions amounted to 476.58 tons in 2020[128]. - Nitrogen oxides (NOx) emissions reached 638.26 tons in 2020[128]. - The company adhered to the emission standards of GB 13271-2014 for boiler air pollutants[130]. - The company operates under strict environmental regulations, including GB13223-2011 for thermal power plants[130]. - The company has implemented measures to ensure compliance with low emission standards for coal-fired power plants[130]. Corporate Governance - The audit report issued by Zhongxi CPA is a standard unqualified opinion, ensuring the accuracy of the financial report[7]. - The company has maintained a clear separation from its controlling shareholder in terms of business, personnel, assets, and finances[179]. - The board of directors consists of 6 members, including 3 independent directors, ensuring compliance with governance standards[179]. - The company adheres to strict information disclosure practices, ensuring transparency and equal access for all shareholders[179]. - The company has implemented a performance evaluation mechanism for senior management, linking operational performance to compensation[187]. Risk Management - The company has detailed potential risks in the "Discussion and Analysis of Operating Conditions" section of the report[10]. - The company faces risks from fluctuating raw material prices, particularly coal, which directly impacts operational costs[93]. - The company is addressing aging pipeline equipment risks by using high-quality materials for new installations and maintenance[95]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period was 24,666, down from 33,130 at the end of the previous month[140]. - The total number of shares for Lianzhong New Energy Co., Ltd. is 1,161,720,503, representing 50.77% of the total shares[144]. - The company has no strategic investors or general legal entities becoming top 10 shareholders during the reporting period[145]. Future Strategies - The company plans to expand its industrial steam market business, capitalizing on the growing demand for clean heating solutions in northern regions[71]. - The company is exploring mergers and acquisitions in the clean heating sector to strengthen its market position and ensure sustainable growth[89]. - The company aims to enhance its market position by leveraging its core technologies in clean energy and expanding into new energy sectors such as energy storage and hydrogen energy[46].

Financial Performance - Net profit attributable to shareholders decreased by 21.86% to CNY 701,373,378.91 year-on-year[11]. - Operating revenue declined by 3.55% to CNY 1,697,068,977.14 compared to the same period last year[11]. - Basic earnings per share decreased by 21.51% to CNY 0.3079[11]. - The company reported a decrease in net profit after deducting non-recurring gains and losses by 11.77% to CNY 783,846,558.88[11]. - The total comprehensive income attributable to the parent company was CNY 701,373,658.44, a decrease of 21.9% compared to CNY 897,553,236.26 in the same period last year[46]. - Net profit for Q1 2021 was CNY 721,697,693.36, down 22.3% from CNY 929,254,282.74 in Q1 2020[44]. - The net profit for the first quarter of 2021 was CNY 16,502,621.17, down from CNY 170,221,174.82 in the first quarter of 2020, representing a decline of 90.3%[48]. Assets and Liabilities - Total assets decreased by 6.01% to CNY 13,025,543,854.06 compared to the end of the previous year[11]. - The company's total liabilities decreased to approximately ¥3.42 billion from ¥4.79 billion, a reduction of 28.5%[34]. - Total liabilities amounted to CNY 3,879,556,089.93, a decrease from CNY 4,755,894,082.64 in the previous period[40]. - The company reported a total asset value of ¥13,857,801,304.88 as of the end of Q1 2021, a decrease from ¥14,084,215,012.77 at the end of the previous year[57]. - The company’s total liabilities as of the end of Q1 2021 were not explicitly stated but are implied to have increased due to higher financing outflows[57]. Cash Flow - Net cash flow from operating activities improved by 39.53%, reaching -CNY 365,283,481.17[11]. - The net cash flow from operating activities was negative CNY 365,283,481.17, improving from negative CNY 604,039,506.70 in the same period last year[51]. - The cash outflow from financing activities turned from a net inflow to a net outflow of -¥732,926,943.96, primarily due to bank loan repayments and share buybacks[23]. - The net cash flow from financing activities in Q1 2021 was -¥675,345,588.80, compared to a positive cash flow of ¥88,051,292.45 in Q1 2020, indicating a significant shift in financing strategy[55]. Shareholder Information - The total number of shareholders reached 33,130 by the end of the reporting period[15]. - The largest shareholder, Lianzhong New Energy Co., Ltd., holds 1,161,720,503 shares, with 228,130,445 shares pledged[15]. Expenses - Sales expenses increased by 37.19% to ¥13,472,112.17 compared to ¥9,819,983.13 in the same period last year, primarily due to an increase in the sales department's headcount[20]. - Research and development expenses increased by 250.02% to ¥6,439,147.37 from ¥1,839,633.81 year-on-year, reflecting a continued increase in R&D investment[23]. - The company plans to continue focusing on research and development, with R&D expenses increasing to CNY 2,718,686.76 from CNY 2,208,732.46[44]. - Financial expenses decreased to negative CNY 21,404,597.53 from negative CNY 30,309,164.85 year-over-year, showing improved cost management[46]. Investment Performance - Investment income decreased by 71.14% to ¥2,407,162.79 from ¥8,341,643.83 year-on-year, mainly due to the accounting of earnings from Shanghai Huadian Fuxin using the equity method this period[20]. - The company reported investment income of CNY 2,408,464.26, a significant drop from CNY 148,500,000.00 in the previous year, indicating challenges in investment performance[48]. Inventory and Prepayments - The balance of inventory decreased by 42.93% to ¥174,778,448.72 from ¥306,247,369.97, mainly due to normal consumption of coal during the heating season[23]. - The balance of prepayments increased by 41.63% to ¥170,107,623.43 from ¥120,106,278.81, primarily due to increased prepayments for coal procurement[23]. Fair Value and Other Financial Metrics - The company reported a fair value loss of -¥101,401,720.40, a significant increase compared to the previous year, mainly due to a decline in the stock price of Qi Anxin[20]. - The company recognized right-of-use assets of approximately 234.90 million and lease liabilities of about 227.49 million due to the implementation of the new leasing standard[68]. - The adjustment for the new leasing standard did not have a significant impact on the company's financial position, operating results, cash flows, or future operating performance[68].