Financial Performance - The company's operating revenue for Q1 2023 was ¥66,198,574.67, a decrease of 18.65% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥16,840,938.44, indicating a significant loss[5]. - Total operating revenue for Q1 2023 was ¥66,198,574.67, a decrease of 18.6% compared to ¥81,371,525.67 in Q1 2022[19]. - Net loss for Q1 2023 was ¥18,002,805.25, compared to a net loss of ¥10,299,549.05 in Q1 2022, representing an increase in loss of 74.5%[20]. - The company reported a comprehensive income total of -¥7,419,242.63 for Q1 2023, compared to -¥14,790,475.77 in Q1 2022, indicating an improvement in comprehensive loss[21]. - Basic and diluted earnings per share for Q1 2023 were both -¥0.0104, compared to -¥0.0053 in Q1 2022, reflecting a worsening in per-share loss[21]. Cash Flow - The net cash flow from operating activities was ¥16,162,487.61, with an increase of ¥50,164,900 compared to the previous period[8]. - The company's cash flow statement for Q1 2023 indicates ongoing financial challenges, with significant losses impacting liquidity[22]. - In Q1 2023, the cash inflow from operating activities was approximately $87.24 million, a slight decrease of 1% compared to $89.01 million in Q1 2022[24]. - The net cash flow from operating activities improved significantly to approximately $16.16 million, compared to a negative cash flow of $34.00 million in the same period last year[24]. - The company reported a significant reduction in cash paid for purchasing goods and services, totaling approximately $41.36 million, down 35% from $64.07 million in Q1 2022[24]. - The cash paid to employees decreased to approximately $15.89 million, a reduction of 38% compared to $25.51 million in Q1 2022[24]. - The company experienced a decrease in cash received from other operating activities, totaling approximately $11.31 million, down 67% from $34.78 million in Q1 2022[24]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,974,279,208.29, a decrease of 1.15% from the end of the previous year[6]. - The equity attributable to shareholders decreased by 0.20% to ¥3,159,634,027.06[6]. - The company's total liabilities decreased to ¥801,291,294.09 in Q1 2023 from ¥840,260,092.94 in Q1 2022, a reduction of 4.6%[20]. - The total current liabilities decreased to RMB 555,637,697.18 from RMB 592,660,799.54, indicating a reduction of approximately 6.25%[16]. - The company's accounts receivable increased to RMB 350,697,567.90 from RMB 325,755,498.91, marking an increase of approximately 7.66%[15]. - The company's non-current assets totaled RMB 2,527,005,879.87, down from RMB 2,543,771,628.76, reflecting a decrease of about 0.66%[16]. - The company reported a decrease in trading financial assets from RMB 193,534,016.31 to RMB 99,476,088.30, a decline of approximately 48.54%[15]. - The company’s other receivables decreased to RMB 126,186,999.04 from RMB 167,139,119.37, indicating a reduction of about 24.49%[15]. - The company’s accounts payable decreased to RMB 130,202,874.13 from RMB 145,042,912.66, reflecting a decline of approximately 10.19%[16]. Investments - The company acquired an 18.89% stake in Beijing Huiyuan Food and Beverage Co., Ltd. for a total consideration of RMB 850 million, enhancing its profitability and aligning with its transformation strategy[13]. - The company is in the process of acquiring an additional 3.128% stake in Zhuhai Wenshenghui Investment Co., Ltd. for RMB 50 million, which will increase its indirect ownership in Beijing Huiyuan to 20.7654%[14]. Research and Development - Research and development expenses for Q1 2023 were ¥785,660.10, a decrease of 49.3% from ¥1,553,753.19 in Q1 2022[20].

Financial Performance - The company's operating revenue for Q3 2022 was ¥71,132,374.54, a decrease of 23.68% compared to the same period last year[5] - The net profit attributable to shareholders was -¥95,412,252.58, reflecting a significant decline of 3,412.73% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥15,041,634.23, a decrease of 2,078.88% compared to the previous year[5] - Basic earnings per share were -¥0.0591, a decrease of 3,384.63% year-on-year[6] - Net profit for Q3 2022 was a loss of CNY 141,060,460.91, compared to a profit of CNY 4,280,958.37 in Q3 2021[23] - The company's total assets decreased to CNY 4,435,353,174.75 in Q3 2022 from CNY 4,838,674,948.78 in Q3 2021, reflecting a decline of 8.3%[20] - The company's equity attributable to shareholders decreased to CNY 3,143,622,531.72 in Q3 2022 from CNY 3,311,090,570.01 in Q3 2021, a decline of 5.0%[20] - The company reported a significant increase in other comprehensive losses, totaling CNY -30,145,205.90 in Q3 2022 compared to CNY 16,927,053.57 in Q3 2021[24] Cash Flow and Assets - The net cash flow from operating activities was -¥220,813,341.87, indicating a decline of 227.46%[6] - The net cash flow from operating activities for the first three quarters of 2022 was not provided, indicating a need for further analysis on cash management strategies[21] - In the first three quarters of 2022, the company's cash inflow from operating activities was CNY 421,898,838, a decrease of 20.5% compared to CNY 530,330,105 in the same period of 2021[25] - The net cash flow from operating activities was negative at CNY -220,813,341.87, contrasting with a positive cash flow of CNY 173,241,174 in the previous year[25] - The cash inflow from investment activities totaled CNY 1,613,492,748.06, significantly up from CNY 684,376,871.33 in the prior year, marking an increase of 135.9%[26] - The net cash flow from investment activities was CNY 1,275,447,116.76, a substantial improvement from a negative cash flow of CNY -116,790,807.83 in the same period last year[26] - The cash and cash equivalents at the end of the period reached CNY 1,442,097,487.39, compared to CNY 637,735,140.09 at the end of the previous year, reflecting a growth of 126.9%[26] - The company reported cash outflows from operating activities amounting to CNY 642,712,179.87, which is an increase of 80.0% from CNY 357,088,931.38 in the same period of 2021[25] Shareholder Information - The total number of ordinary shares at the end of the reporting period was 102,775[13] - The largest shareholder, Guozhong (Tianjin) Water Co., Ltd., holds 227,312,500 shares, accounting for 14.09% of total shares[14] - The company has a total of 10,277,090 shares held by Shanghai Yitan Cultural Development Co., Ltd., representing 0.64% of total shares[14] - The company reported a pledge of 47,448,700 shares by Lhasa Economic and Technological Development Zone Houkang Industrial Co., Ltd.[13] Operational Challenges and Future Plans - The company reported non-recurring losses of -¥80,370,618.35, primarily due to asset transfer delays and penalties[11] - The company experienced a significant reduction in sewage treatment and engineering income, contributing to the overall financial decline[11] - The company plans to focus on improving operational efficiency and exploring new revenue streams to mitigate losses in the upcoming quarters[11] Asset Management - The company has outstanding principal and income of ¥667.8 million from an asset management plan, with ¥93 million remaining to be recovered[16] - The company is actively pursuing the settlement and clearance of its asset management plan[16] Current Assets and Liabilities - Total current assets decreased from ¥2.98 billion at the end of 2021 to ¥2.68 billion as of September 30, 2022[18] - The company’s accounts receivable increased to ¥332.87 million from ¥270.12 million year-over-year[18] - The company’s intangible assets decreased from ¥1.08 billion at the end of 2021 to approximately ¥1.03 billion as of September 30, 2022[18] - Total liabilities decreased to CNY 1,277,354,113.07 in Q3 2022 from CNY 1,509,376,831.92 in Q3 2021, a reduction of 15.4%[20] - Total operating costs for the first three quarters of 2022 were CNY 241,730,386.15, down 10.2% from CNY 269,118,254.66 year-over-year[22]

Financial Performance - The company's operating revenue for the first half of the year was ¥147,754,242.06, a decrease of 10.63% compared to ¥165,335,602.50 in the same period last year [22]. - The net profit attributable to shareholders was -¥41,910,579.81, a significant decline of 1,027.48% from ¥4,518,781.89 in the previous year [22]. - The net cash flow from operating activities was -¥156,328,376.74, representing a decrease of 252.13% compared to ¥102,757,295.79 in the same period last year [22]. - The company's total assets at the end of the reporting period were ¥4,747,339,020.51, down 1.89% from ¥4,838,674,948.78 at the end of the previous year [22]. - The net assets attributable to shareholders decreased by 2.11% to ¥3,241,112,002.69 from ¥3,311,090,570.01 at the end of the previous year [22]. - Basic earnings per share for the first half of the year were -¥0.0260, a decrease of 1,027.52% from ¥0.0028 in the same period last year [24]. - The weighted average return on net assets was -1.28%, a decrease of 1.41 percentage points from 0.13% in the previous year [24]. - The company reported non-operating income of ¥17,997,298.10 from the disposal of non-current assets, primarily from a capital reduction from Shanghai Pengdu Yiyang Health Technology Development Co., Ltd. [25]. Operational Overview - The company operates under a BOT and BT model for water supply and sewage treatment, maintaining a nationwide investment and operation capability in the water and environmental protection sector [28]. - The company has eight sewage treatment project companies, with a total treatment capacity of 41.57 million tons per day, of which 40.57 million tons per day is currently operational [29]. - The company's wastewater treatment volume reached 53.44 million tons, while the billed water volume was 63.64 million tons, representing a year-on-year decrease of 3.84% [41]. - The water supply project provided a total supply of 15.74 million tons, with a sold water volume of 12.07 million tons, reflecting a year-on-year decrease of 2.02% [41]. - The company has a total water treatment capacity of 21,000 tons/day from its contracts, with an existing capacity of 11,000 tons/day [31]. - The company is actively expanding its business in environmental engineering services through subsidiaries, focusing on municipal sewage and industrial wastewater projects [32]. Risk Management - The management has outlined potential risks in the third section of the report, emphasizing the importance of investor awareness [8]. - The report includes a detailed description of risk factors that the company may face in the future [8]. - The company faced risks including market competition, project operation, and cost control, which could impact its business activities and financial performance [56]. Corporate Governance - The company reported no profit distribution or capital reserve transfer during the reporting period [6]. - The financial report has not been audited, ensuring the accuracy and completeness of the financial data presented [5]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties [8]. - The company has maintained its commitment to transparency, with all board members present at the meeting [4]. - The company has not indicated any violations of decision-making procedures regarding external guarantees [8]. Investment Activities - The company has invested a total of ¥420.05 million in various securities and funds, with an investment income of approximately ¥321,962.62 during the reporting period [54]. - The company received a capital reduction payment of 200 million yuan from Shanghai Pengdu Yiyang Health Technology Development Co., Ltd. during the reporting period [48]. - The company’s investment activities generated a net cash flow of 1.02 billion yuan, a significant improvement compared to the previous year [46]. Changes in Management and Structure - Changes in senior management included the election of Ding Hongwei as chairman and Wang Jianwei as independent director following the resignation of previous officials [60]. - The company has not experienced any changes in its total share capital or share structure during the reporting period [105]. - The company has approved the cancellation of 40,154,025 shares held in the repurchase account, with the process ongoing until the creditor notification period ends on August 29, 2022 [107]. Financial Position - The company’s cash and cash equivalents at the end of the period amounted to 1.25 billion yuan, representing 26.52% of total assets, a significant increase of 212.79% from the previous year [48]. - The company’s total liabilities decreased by 100% in the estimated liabilities category, confirming the transfer of litigation compensation to other payables [49]. - The company’s user satisfaction rate for water supply was 98.83%, with a 100% compliance rate for water quality indicators [44]. Compliance and Legal Matters - The company faced an administrative penalty of 300,000 RMB for exceeding water pollution discharge standards in the Taiyuan Haofeng sewage treatment project [80]. - The company has received a ruling to collect overdue sewage treatment fees totaling 116.6 million RMB, with additional interest of 15.8 million RMB [86]. - The applicant has reported that the respondents have repeatedly refused to fulfill their obligations, citing financial difficulties [90]. Future Outlook - The national plan aims for urban sewage collection rates to reach over 70% by 2025, providing significant market opportunities for the wastewater treatment industry [33]. - The company is focusing on innovation in environmental technology and aims to develop into a leading environmental technology company in China [37]. - The company plans to focus on enhancing its product offerings and market expansion strategies in the upcoming quarters [149].

Financial Performance - The company reported a net profit attributable to shareholders of RMB -9,055.30 million for the year 2021, with a parent company net profit of RMB 43.98 million[6]. - The total available profit for distribution to shareholders at the end of 2021 was RMB -165.70 million, with no profit distribution or capital reserve transfer planned for the year[6]. - The company did not extract statutory surplus reserves, and the beginning undistributed profit was RMB -209.66 million[6]. - The company's operating revenue for 2021 was approximately ¥384.50 million, representing a 1.42% increase compared to ¥379.10 million in 2020[23]. - The net profit attributable to shareholders for 2021 was approximately -¥90.55 million, a significant decrease of 396.46% from ¥30.54 million in 2020[23]. - The total assets at the end of 2021 were approximately ¥4.84 billion, reflecting a 3.01% increase from ¥4.70 billion at the end of 2020[24]. - The net asset attributable to shareholders decreased by 3.31% to approximately ¥3.31 billion at the end of 2021, down from ¥3.42 billion at the end of 2020[24]. - The basic earnings per share for 2021 was -¥0.0561, a decrease of 396.83% compared to ¥0.0189 in 2020[24]. - The weighted average return on equity for 2021 was -2.69%, a decrease of 3.58 percentage points from 0.89% in 2020[24]. - The net cash flow from operating activities for 2021 was approximately ¥261.06 million, a significant improvement from -¥217.47 million in 2020[23]. Operational Challenges - The decline in profit was primarily due to environmental fines for substandard effluent and reduced water treatment volume due to equipment maintenance[32]. - The company experienced a significant decrease in gross margin due to lower-than-expected project settlement income and higher-than-expected project costs[32]. - Credit impairment losses increased significantly due to the inability to recover certain equity transfer payments and arbitration execution amounts[32]. - The company faced administrative penalties due to water pollution discharge exceeding standards, with fines totaling CNY 9.45 million in 2021[141]. - The company has faced significant operational challenges due to delays and quality issues in construction projects, impacting overall performance[153]. Risk Management - The company has outlined potential risks in the management discussion and analysis section of the report[9]. - The company faces risks related to industry policy changes, market competition, project operation, and construction cost control, which could impact its business performance[91]. - The company is navigating a new normal in the environmental industry characterized by stricter policies and higher standards due to rapid urbanization and increased water demand[32]. Governance and Compliance - The audit report issued by Zhongzhun Accounting Firm contained a qualified opinion, with detailed explanations provided by the board and supervisory committee[5]. - The company emphasizes strict compliance with information disclosure regulations to maintain transparency and protect shareholder rights[96]. - The company has established a governance structure with a board of directors consisting of 7 members, including 3 independent directors, to ensure effective decision-making and oversight[95]. - The company has implemented a comprehensive internal control management system to ensure smooth operations across all subsidiaries[124]. - The company has no significant internal control deficiencies reported during the reporting period[122]. Strategic Focus - The company plans to focus on market expansion and new product development in the upcoming fiscal year[25]. - The company is focusing on expanding its business in rural revitalization and environmental protection, aligning with national development strategies, and plans to adjust and upgrade existing assets accordingly[36]. - The company is actively seeking quality investment targets in the dual-carbon and modern agriculture sectors, with a focus on international expansion[49]. - The company aims to strengthen its collaboration with major clients in various environmental sectors, enhancing its comprehensive environmental governance solutions[45]. Financial Management - The company has engaged in various financial management activities, including fixed-income wealth management products with annualized returns ranging from 3.59% to 3.68%[184]. - The company has a total of CNY 40,000.00 million in cash asset management, with a total return of CNY 46,080.00 million including principal and income[182]. - The company has provided guarantees totaling CNY 3,000.00 million to Heilongjiang Guozhong Water Co., Ltd., with a guarantee period from October 1, 2014, to September 20, 2024[175]. Legal Matters - The company is actively managing its legal disputes to protect its financial interests and ensure recovery of outstanding amounts[153]. - The company has initiated a legal process to recover RMB 580,460 in unpaid engineering fees from a construction project[155]. - The company is involved in multiple legal disputes regarding construction contracts and claims of unjust enrichment[163]. Environmental Compliance - The company has committed to reducing carbon emissions, although specific measures and effects were not disclosed in the report[144]. - The company has implemented automatic monitoring for key pollutants such as COD, total phosphorus, total nitrogen, and ammonia nitrogen, with monitoring frequencies ranging from every hour to every two hours depending on the project[137][138][139][140]. - Environmental monitoring data is published in real-time on the city's online monitoring management information system[137][138][140].

证券代码：600187 证券简称：国中水务 编号：临 2022-029 黑龙江国中水务股份有限公司 关于参加投资者网上集体接待日活动的公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担个别及连带责任。 为进一步加强与投资者的互动交流，黑龙江国中水务股份有限公司（以下简称"公司"）将参加由黑龙 江省上市公司协会、深圳市全景网络有限公司共同举办的"黑龙江省上市公司 2022 年度投资者网上集体接 待日"活动，现将有关事项公告如下： 本次集体接待日活动将通过深圳市全景网络有限公司提供的互联网平台举行，投资者可以登录"全景• 路演天下"网站（https://rs.p5w.net/html/132395.shtml）参与公司本次投资者集体接待日活动，时间为 2022 年 5 月 12 日 14:30 至 16:30。 出席本次活动人员有：公司董秘、财务总监。 为充分尊重投资者、提升交流的针对性，现就公司本次活动提前向投资者公开征集问题，广泛听取投 资者的意见和建议。投资者可于 2022 年 5 月 12 日 12:00 前访问 https://i ...

Financial Performance - The company reported a net profit attributable to shareholders of RMB -9,055.30 million for the year 2021, while the parent company achieved a net profit of RMB 43.98 million[6]. - The total distributable profit for the parent company at the end of 2021 was RMB -165.70 million, and the company plans not to distribute profits or increase capital reserves for the year[6]. - The company's operating revenue for 2021 was CNY 384,499,011.76, representing a 1.42% increase compared to CNY 379,100,938.07 in 2020[23]. - The net profit attributable to shareholders for 2021 was a loss of CNY 90,553,026.42, a significant decrease of 396.46% from a profit of CNY 30,544,617.77 in 2020[23]. - The company's total assets increased by 3.01% to CNY 4,838,674,948.78 at the end of 2021, compared to CNY 4,697,084,384.12 at the end of 2020[24]. - The net cash flow from operating activities for 2021 was CNY 261,057,240.36, a recovery from a negative cash flow of CNY -217,465,063.21 in 2020[23]. - The basic earnings per share for 2021 was -CNY 0.0561, a decrease of 396.83% from CNY 0.0189 in 2020[24]. - The weighted average return on equity for 2021 was -2.69%, down 3.58 percentage points from 0.89% in 2020[24]. - The company's net assets attributable to shareholders decreased by 3.31% to CNY 3,311,090,570.01 at the end of 2021, compared to CNY 3,424,428,542.33 at the end of 2020[24]. Audit and Compliance - The company received a qualified audit opinion from Zhongzhun Accounting Firm, which has been detailed in the board's special explanation[5]. - The company has not violated decision-making procedures for external guarantees[9]. - The company has not faced a situation where more than half of the directors could not guarantee the authenticity, accuracy, and completeness of the annual report[9]. - The company's financial report has been confirmed by the responsible persons, ensuring its authenticity and completeness[6]. - The company has not received any non-standard audit opinions from its accounting firm[150]. Operational Challenges - The decrease in profit was primarily due to environmental fines for substandard effluent and reduced water treatment volume due to equipment maintenance[32]. - The company experienced a significant decline in gross margin due to lower-than-expected project settlement income and higher-than-expected project costs[32]. - Credit impairment losses increased significantly due to the non-recovery of certain equity transfer payments and arbitration execution amounts[32]. - The company is navigating a new normal in the environmental industry characterized by stricter policies and higher standards[32]. - The company has highlighted ongoing challenges in project execution, including delays and quality control issues, impacting financial performance[152]. Revenue Streams - The company's sewage treatment volume was 112.82 million tons, a year-on-year decrease of 9.71%, and the revenue from sewage treatment business was 196.52 million yuan, down 4.85% year-on-year[33]. - The company completed a water supply volume of 29.26 million tons, a year-on-year decrease of 2.45%, while the sales volume of water increased by 4.35% to 25.79 million tons[35]. - The water supply business revenue increased by 2.94% due to increased supply from the subsidiary Hanzhong Water Company[59]. - The engineering services revenue decreased by 19.09%, primarily due to reduced project income impacted by the pandemic[59]. - The wastewater treatment business revenue decreased by 4.85% as some plants underwent equipment repairs, leading to a decline in treated water volume[59]. Strategic Initiatives - The company is focusing on environmental protection and water treatment, aligning with national strategies for rural revitalization and agricultural modernization[36]. - The company is implementing a smart water supply project in Hanzhong to reduce leakage rates and improve operational efficiency[35]. - The company is undergoing upgrades to its wastewater treatment facilities to meet higher discharge standards, particularly for the Rongxian Water project[41]. - The company is focusing on investment and acquisition opportunities in carbon neutrality, modern agriculture, and health-related sectors[49]. - The company aims to enhance its technological innovation capabilities and develop core technology teams in the environmental sector[46]. Governance and Management - The company has established a governance structure that includes a board of directors with 7 members and various specialized committees to ensure effective decision-making and oversight[95]. - The company adheres to strict information disclosure practices to ensure transparency and fairness for all shareholders[96]. - The company held its annual general meeting on May 13, 2021, and elected Zhang Yan as the new chairman, replacing Yin Jun[101]. - The total remuneration for all directors, supervisors, and senior management was 4.7199 million yuan[110]. - The company has implemented a performance-oriented salary policy, linking performance results closely with salary adjustments and bonus distributions[118]. Legal and Arbitration Matters - The company has initiated arbitration proceedings due to significant delays and quality issues in construction projects, leading to a claim of RMB 20,349,681.30 for overpaid project funds[152]. - The company is involved in a merger and acquisition strategy, focusing on assets held by related companies, with a proposed investment of RMB 50 million[154]. - The company has faced legal proceedings regarding construction contracts, with claims for additional costs and penalties due to delays[154]. - The arbitration process is ongoing, with the company seeking to protect its legal rights under relevant laws[156]. - The company is actively seeking to resolve disputes through arbitration and legal channels to recover outstanding payments[152]. Environmental Compliance - The company has implemented emergency response plans for environmental incidents across all wastewater treatment projects, ensuring compliance with regulatory requirements[135]. - The company faced administrative penalties due to water pollution discharge exceeding standards, with fines totaling 9.45 million yuan in 2021[140]. - The company has a structured approach to environmental management, including regular audits and compliance checks to mitigate risks associated with environmental regulations[141]. - The company has committed to ensuring no direct or indirect participation in any business that competes with its main operations, with a long-term effective commitment since 2012[145]. - The company has implemented a real-time online monitoring system for wastewater data, accessible to the public[136][137][138][139]. Financial Products and Investments - The company has received a total of CNY 460.8 million from the asset management plan, with CNY 10.1834 million recognized as investment income in the current period[179]. - The company has entrusted CNY 700 million in a wealth management product and CNY 450 million in bank wealth management products, with a remaining balance of CNY 300 million[178]. - The annualized return rates for various wealth management products range from 3.59% to 3.68%[181]. - The company is actively managing idle funds through structured deposits and wealth management products to optimize returns[195]. - The bank's strategy includes expanding its financial product offerings to attract more investments[186].

Financial Performance - The company's operating revenue for Q1 2022 was ¥81,371,525.67, representing a decrease of 13.24% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥8,504,586.54, with a net profit excluding non-recurring items of ¥-17,109,069.79[5]. - Basic and diluted earnings per share were both ¥-0.0053[6]. - Net profit for Q1 2022 was -¥10,299,549.05, compared to -¥12,441,584.67 in Q1 2021, showing an improvement of 17.3%[26]. - Operating profit for Q1 2022 was -¥25,207,507.01, worsening from -¥8,149,213.50 in Q1 2021[26]. - The total comprehensive income attributable to the parent company for Q1 2022 was -12,995,513.26 RMB, compared to -10,316,125.48 RMB in Q1 2021, reflecting a decline of approximately 25.8%[27]. Cash Flow - The net cash flow from operating activities was negative at ¥34,002,415.46[5]. - Cash inflow from operating activities totaled 89,008,060.81 RMB in Q1 2022, down from 97,406,621.81 RMB in Q1 2021, representing a decrease of about 8.5%[28]. - The total cash outflow from operating activities in Q1 2022 was 123,010,476.27 RMB, compared to 129,702,096.34 RMB in Q1 2021, showing a reduction of approximately 5.2%[29]. - The net cash flow from investing activities for Q1 2022 was 300,939,456.78 RMB, a significant improvement from -87,283,630.47 RMB in Q1 2021, indicating a positive shift in investment returns[29]. - The net cash flow from financing activities for Q1 2022 was -10,133,390.14 RMB, a decline from a positive cash flow of 21,258,107.50 RMB in Q1 2021[29]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,790,318,420.40, a decrease of 1.00% from the end of the previous year[6]. - The company's accounts receivable increased to RMB 309,623,803.55 from RMB 270,121,482.29, representing a growth of about 14.6% year-over-year[20]. - The total amount of other receivables decreased to RMB 454,574,395.91 from RMB 671,034,978.26, indicating a decline of approximately 32.4%[20]. - Total liabilities for Q1 2022 were ¥1,475,810,779.31, down from ¥1,509,376,831.92 in Q1 2021[22]. - The company's total equity decreased to ¥3,314,507,641.09 from ¥3,329,298,116.86 year-over-year[22]. Investments and Income - The company's investment income decreased by 83.13%, mainly due to reduced returns from financial products[12]. - The company reported a significant increase of 84,649.16% in non-operating income, attributed to interest received from the capital reduction payment[12]. - The company received a total of RMB 17,758,046 from the return of capital from the Sai Ling Fund, which reduced its registered capital from RMB 421 million to RMB 381 million[17]. - The company received 371,758,046.00 RMB from investment recoveries in Q1 2022, a substantial increase from 30,800,000.00 RMB in Q1 2021[29]. Operational Highlights - The company did not report any new product developments or market expansions during this quarter[1]. - The company decided to withdraw from the acquisition of 100% equity in two wholly-owned subsidiaries due to the need for further discussion and consideration of its transformation strategy[19]. - The company’s trading financial assets decreased to RMB 286,993,610.62 from RMB 443,059,005.88, a decline of approximately 35.3%[20]. - The company’s held-for-sale assets increased to RMB 346,374,239.87 from RMB 334,549,792.61, showing a growth of about 3.1%[20]. - The company’s prepayments rose to RMB 11,630,911.58 from RMB 7,230,337.50, reflecting an increase of approximately 61.5%[20].

Financial Performance - The company's operating revenue for Q3 2021 was ¥93,202,039.59, representing a year-on-year increase of 22.75%[5] - The net profit attributable to shareholders for Q3 2021 was ¥2,880,174.23, a decrease of 64.10% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥760,106.68, an increase of 117.53% year-on-year[5] - The basic earnings per share for Q3 2021 was ¥0.0018, down 63.58% year-on-year[5] - The diluted earnings per share for Q3 2021 was also ¥0.0018, reflecting a decrease of 63.58% compared to the same period last year[5] - The weighted average return on equity for Q3 2021 was 0.08%, a decrease of 0.15 percentage points from the previous year[5] - Total operating revenue for the first three quarters of 2021 reached ¥258,537,642.09, an increase from ¥213,266,363.44 in the same period of 2020, representing a growth of approximately 21.2%[29] - Net profit for the first three quarters of 2021 was ¥4,280,958.37, a decrease from ¥34,609,634.29 in the same period of 2020, reflecting a decline of approximately 87.6%[30] - The total comprehensive income for the first three quarters of 2021 was ¥21,208,011.94, compared to ¥12,354,147.59 in 2020, showing an increase of approximately 71.5%[31] Cash Flow and Assets - The cash flow from operating activities for the year-to-date period was ¥173,241,174.00, reflecting a significant increase of 182.29% compared to the previous year[5] - As of September 30, 2021, total current assets amounted to RMB 2.40 billion, a slight decrease from RMB 2.41 billion at the end of 2020[24] - Cash and cash equivalents increased to RMB 640.74 million from RMB 584.91 million at the end of 2020, representing an increase of approximately 9.5%[24] - The company reported a significant increase in cash received from operating activities, totaling ¥530,330,105.38 in the first three quarters of 2021, compared to ¥301,942,584.21 in 2020, representing a growth of about 75.7%[33] - The total cash and cash equivalents at the end of Q3 2021 amounted to 637,735,140.09, a significant increase from 317,950,008.38 in the previous year, representing a growth of about 100%[34] - The company incurred total cash outflows from investing activities of 801,167,679.16, down from 1,119,453,225.58 year-over-year, reflecting a decrease of approximately 28.5%[34] Investments and Shareholder Information - The total number of common shareholders at the end of the reporting period is 102,792[13] - The largest shareholder, Guozhong (Tianjin) Water Co., Ltd., holds 13.74% of the shares, totaling 227,312,500 shares[13] - The company holds an 8.03% stake in Aquaporin A/S, which was listed on the Nasdaq Copenhagen on June 28, 2021[15] - The company plans to invest up to 300 million RMB in a private equity fund managed by Guangdong Wuwen Capital Management Co., Ltd.[15] - The company has invested a total of 478 million RMB in the Sailin International Investment Fund, holding a 4.4395% equity stake[16] - The top ten shareholders include several entities with significant stakes, such as Lhasa Economic and Technological Development Zone Houkang Industrial Co., Ltd. with 9.59%[13] Liabilities and Equity - The total assets at the end of Q3 2021 were ¥4,682,532,882.73, a slight decrease of 0.31% from the end of the previous year[6] - The equity attributable to shareholders at the end of Q3 2021 was ¥3,448,754,552.02, an increase of 0.71% from the end of the previous year[6] - Total liabilities decreased to RMB 1.22 billion from RMB 1.25 billion, reflecting a reduction of approximately 2.1%[26] - The company’s non-current liabilities increased to RMB 308.77 million from RMB 287.08 million, marking an increase of approximately 7.5%[26] Project Developments and Terminations - The company terminated two fundraising investment projects, reallocating RMB 100 million to permanently supplement working capital to support operations and development[19] - The company agreed to terminate the Shimen water supply project and will permanently supplement working capital with the remaining fundraising amount of RMB 98.93 million[20] - The company sold 100% equity of its subsidiaries in the water supply project in Hanzhong to Hanzhong Investment Holding Group Co., Ltd.[21] Research and Development - Research and development expenses for the first three quarters of 2021 amounted to ¥3,778,383.39, slightly down from ¥4,104,210.11 in 2020[29] Financial Management and Future Outlook - The management team remains focused on improving cash flow management and reducing investment outflows in the upcoming quarters[34] - The company did not apply the new leasing standards, indicating a potential area for future financial reporting adjustments[34]

Financial Performance - The company's operating revenue for the first half of 2021 was RMB 165,335,602.50, representing a 20.38% increase compared to RMB 137,340,249.44 in the same period last year[24]. - The net profit attributable to shareholders for the first half of 2021 was RMB 4,518,781.89, a decrease of 83.97% from RMB 28,186,909.77 in the previous year[24]. - The basic earnings per share for the first half of 2021 was RMB 0.0028, down 84.00% from RMB 0.0175 in the same period last year[23]. - The net cash flow from operating activities was RMB 102,757,295.79, a significant improvement from a negative RMB 248,307,149.74 in the previous year[24]. - The company's total assets at the end of the reporting period were RMB 4,720,335,222.83, a slight increase of 0.50% from RMB 4,697,084,384.12 at the end of the previous year[24]. - The total profit decreased by 93.00% to 1.86 million yuan, while the net profit attributable to the parent company dropped by 83.97% to 4.52 million yuan[42]. - The company processed 55.86 million tons of wastewater, with wastewater treatment revenue reaching 97.00 million yuan, an increase of 15.30%[44]. - The company completed a water supply volume of 15.17 million tons, with sales water volume at 12.32 million tons, resulting in water supply revenue of 24.76 million yuan, a 7.90% increase[45]. Operational Overview - The company operates seven wastewater treatment projects with a total designed capacity of 41.34 million tons per day[29]. - The company has one water supply project with a designed capacity of 21.00 million tons per day, currently operating at 11.00 million tons per day[30]. - The company is engaged in environmental engineering technology services through its subsidiaries, focusing on wastewater treatment and environmental consulting[31]. - The company is actively expanding into hazardous waste disposal, agricultural waste ecological disposal, and circular economy resource regeneration sectors[46]. - The company has established a specialized working group to enhance coordination and supervision of water-related projects, ensuring timely project completion[44]. Financial Position - The company's total assets at the end of the reporting period amounted to CNY 22,268.68 million, accounting for 4.72% of total assets[54]. - The company’s cash and cash equivalents included CNY 4,004,773.39 in restricted cash due to various guarantees and court freezes[56]. - The company’s total equity attributable to the parent company at the end of the reporting period is CNY 3,493,080,608.50, showing an increase from the previous period[148]. - The total owner's equity at the beginning of the year was CNY 3,444,450,043.57, with a net increase of CNY 22,199,271.51 during the first half of 2021[150]. - The total comprehensive income for the first half of 2021 was CNY 22,199,271.51, indicating a positive trend in financial performance[150]. Risk Factors - The company faces risks from changes in industry policies, particularly in the water treatment sector, which may affect operational activities due to shifts in regional policy support and market supply-demand dynamics[61]. - Increased competition in the water industry is noted, with a shift of projects towards less developed third and fourth-tier cities, presenting new challenges for business expansion[62]. - The company is exposed to operational risks due to strict regulatory oversight in the environmental sector, which demands high efficiency and stability in project production[63]. - Rising costs of energy, labor, and materials pose a risk to project construction costs, potentially compressing the company's profit margins[64]. Corporate Governance - The board of directors guarantees the authenticity, accuracy, and completeness of the semi-annual report[8]. - The company has not faced any situations where more than half of the directors cannot ensure the report's authenticity[7]. - Changes in the board of directors include the election of Zhang Yan as chairman and the appointment of new independent directors, reflecting a restructuring of the board[69]. - The company has committed to ensuring that its controlled enterprises will not engage in any form of competition with its main business, with a commitment date starting from July 5, 2012, and this commitment is valid indefinitely[98]. Legal Matters - The company has ongoing litigation matters, including a case where the respondent is required to pay a total of RMB 116,592,901.94 for overdue wastewater treatment fees, which has not been fully executed yet[101]. - The company has initiated arbitration to protect its legal rights after multiple notifications to the counterpart[104]. - The company is involved in a lawsuit regarding the equity transfer agreement for the Xi'an Aviation Technology Industrial Park water supply and drainage company[104]. - The company reported a total liability of 1,101,028.25 CNY due to a lawsuit regarding undisclosed debts from the target company[105]. Environmental Compliance - The company has reported compliance with environmental discharge standards across multiple wastewater treatment projects, including Qinhuangdao, Taiyuan, and Ma'anshan, with no instances of exceeding discharge limits[75][76][79]. - The company has implemented emergency response plans for environmental incidents across multiple projects to mitigate risks[88]. - The company is committed to continuous monitoring and compliance with environmental regulations to prevent future penalties and ensure sustainable operations[93]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 109,880[118]. - The top ten shareholders include Guozhong (Tianjin) Water Co., Ltd. with 227,312,500 shares, accounting for 13.74% of total shares[119]. - The company repurchased 40,154,025 shares, which is 2.43% of the total share capital, at an average price of 3.002 RMB per share[120]. - The actual controller of the company, Jiang Zhaobai, indirectly controls the voting rights of Houkang Industrial and Yongguan Trade[121]. Accounting Policies - The financial statements are prepared based on the going concern assumption, following the relevant accounting standards[163]. - The company uses RMB as its functional currency for accounting purposes[169]. - The company follows specific accounting policies for revenue recognition and research and development expenditures, as detailed in the financial notes[165]. - The company estimates expected credit losses for financial assets based on whether there has been a significant increase in credit risk since initial recognition[189].

Financial Performance - The company reported a net profit attributable to shareholders of RMB 30.54 million for the year 2020, while the parent company achieved a net profit of RMB 52.96 million[4]. - The company's operating revenue for 2020 was CNY 379,100,938.07, a decrease of 29.51% compared to CNY 537,836,212.60 in 2019[21]. - The net profit attributable to shareholders for 2020 was CNY 30,544,617.77, representing a 54.72% increase from CNY 19,741,340.47 in 2019[21]. - The total assets at the end of 2020 were CNY 4,697,084,384.12, a decrease of 1.81% from CNY 4,783,876,778.22 in 2019[21]. - The basic earnings per share for 2020 was CNY 0.0189, an increase of 54.92% compared to CNY 0.0122 in 2019[23]. - The company reported a net cash flow from operating activities of -CNY 217,465,063.21 in 2020, a decline of 314.86% from CNY 101,211,212.95 in 2019[21]. - Total revenue for the year was 37,338.67 million, a decrease of 30.83% compared to the previous year[62]. - The gross profit margin for water supply increased by 29.98 percentage points to 65.38%, despite a revenue decrease of 26.43%[57]. - The company reported a significant increase in accounts receivable by 11.55% to CNY 23,521.63 million[69]. - The company’s long-term equity investments increased to CNY 19,999.16 million, a 100% increase from the previous period[69]. Operational Challenges - The company has disclosed potential risks in its operations, which are detailed in the section discussing operational conditions and analysis[5]. - The company faces risks from changes in industry policies, which could impact market demand and regional support for water treatment projects[90]. - Increased competition in the water industry, particularly in underdeveloped cities, poses challenges for the company's business expansion[91]. - Rising costs of energy, labor, and materials may affect project construction budgets and operational profitability[93]. - The company has not faced any issues with a majority of directors being unable to ensure the authenticity of the annual report[5]. Business Operations - The company operates in the wastewater treatment and water supply sectors, utilizing BOT, TOT, and BT models for its projects[31]. - The company's wastewater treatment business operates through 7 project companies, with a total contracted treatment capacity of 41.34 thousand tons/day and an existing capacity of 40.34 thousand tons/day[32]. - The water supply business is conducted through one project company, with a contracted capacity of 21.00 thousand tons/day and an existing capacity of 11.00 thousand tons/day[33]. - The company is positioned as a pioneer in the water service industry, leveraging extensive experience in municipal water construction and operation, and has successfully expanded across regions[38]. - The company’s operational management in environmental projects has resulted in numerous high-quality engineering completions, contributing to cost reduction and efficiency improvements[42]. Future Plans and Investments - The company has plans for future expansion in environmental engineering services, focusing on sustainable water management solutions[31]. - The company is actively pursuing investment and acquisition opportunities in the global environmental technology and health industries, aiming to enhance its market presence[44]. - The health and wellness industry is identified as a trillion-level growth sector, with the company exploring investment opportunities in this area due to government support and policy initiatives[87]. - The company plans to accelerate project upgrades and asset disposals based on local policies and market conditions, particularly in hazardous waste disposal and ecological restoration sectors[87]. - The company aims to enhance operational efficiency and customer satisfaction by optimizing its business structure and integrating various business segments[88]. Governance and Compliance - The board of directors and senior management confirmed the accuracy and completeness of the annual report, taking legal responsibility for any misstatements[7]. - The company received a standard unqualified audit report from Zhongzhun Accounting Firm[7]. - The company has established a comprehensive talent management system to enhance operational and management capabilities, ensuring a skilled workforce for future projects[43]. - The company has implemented a performance evaluation mechanism for senior management, enhancing motivation and creativity among key employees[192]. - The company strictly adheres to information disclosure regulations, ensuring transparency and equal access to information for all shareholders[186]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 115,571, an increase from 115,557 at the end of the previous month[155]. - The top ten shareholders hold a total of 1,000,000,000 shares, representing approximately 60.00% of the total shares[158]. - The largest shareholder, Guozhong (Tianjin) Water Co., Ltd., holds 227,312,500 shares, accounting for 13.74% of the total shares[158]. - The actual controller of the company is Jiang Zhaobai, who is also the chairman of Pengxin Group[162]. - The company has not proposed any cash dividend distribution plans for the past three years, with net profits of CNY 30,544,617.77 in 2020, CNY 19,741,340.47 in 2019, and CNY 10,398,554.36 in 2018, resulting in a dividend payout ratio of 0%[98]. Legal Matters - The company is involved in a significant lawsuit with a claim amount of RMB 21,702,869.50, which has been settled[108]. - The company is also engaged in arbitration regarding unpaid sewage treatment fees totaling RMB 116,592,901.94, with ongoing proceedings[108]. - The overdue sewage treatment fees owed by the respondent reached RMB 116,592,901.94 as of December 31, 2018[109]. - The company has initiated arbitration due to the respondent's repeated refusal to fulfill payment obligations[109]. - The company is seeking full support for its arbitration requests regarding the overpaid project funds[109]. Employee Information - The total number of employees in the parent company and major subsidiaries is 716, with 39 in the parent company and 677 in subsidiaries[179]. - The company has established a performance-oriented compensation policy, linking performance results closely with salary adjustments and bonus distributions[181]. - A comprehensive training plan is in place, targeting new employees, current staff, and management, aimed at enhancing overall employee skills and corporate management levels[182]. - The educational background of employees includes 1 PhD, 23 Master's degrees, 179 Bachelor's degrees, 238 Associate degrees, and 275 with high school or lower education[180]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 502.34 million[178].