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].

Financial Performance - Operating revenue for the period was CNY 93,789,912.64, representing an increase of 48.23% year-on-year[6] - Net profit attributable to shareholders of the listed company was CNY -16,432,275.59, a decrease of 313.34% compared to the same period last year[6] - Basic earnings per share were CNY -0.0067, a decline of 164.42% compared to the previous year[7] - The company’s net profit attributable to shareholders decreased significantly due to increased operational costs and lower revenue from core activities[6] - The company's net loss for Q1 2021 was ¥205,554,076.48, slightly improved from a loss of ¥209,658,514.58 in Q1 2020[31] - The total profit for Q1 2021 was ¥5,666,987.20, a decrease of 81.7% compared to ¥30,910,591.35 in Q1 2020[37] - The company's basic and diluted earnings per share for Q1 2021 were both -¥0.0067, compared to ¥0.0104 in Q1 2020[34] - The company's total comprehensive income for Q1 2021 was -¥11,961,276.39, compared to ¥16,654,238.09 in Q1 2020[34] Cash Flow - The net cash flow from operating activities was CNY -32,295,474.53, showing an improvement from CNY -231,485,291.06 in the previous year[6] - Net cash flow from operating activities was negative at -¥32,295,474.53, an improvement of ¥199,189,816.53 compared to -¥231,485,291.06 in Q1 2020[23] - The cash inflow from operating activities in Q1 2021 was ¥97,406,621.81, an increase of 9.5% from ¥89,046,497.03 in Q1 2020[39] - The company reported a cash flow from sales of goods and services of ¥75,586,584.85 in Q1 2021, compared to ¥56,498,133.78 in Q1 2020[39] - The company reported a total cash outflow from operating activities of 72,993,217.01 RMB in Q1 2021, compared to 256,531,974.17 RMB in Q1 2020[45] - The cash inflow from operating activities was 7,880,432.42 RMB in Q1 2021, a decrease from 39,814,155.65 RMB in Q1 2020[44] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,677,843,933.81, a decrease of 0.41% compared to the end of the previous year[6] - Current liabilities totaled ¥914,321,622.28, down from ¥964,311,016.12 at the end of 2020[27] - The total liabilities decreased to ¥828,452,468.12 from ¥848,183,888.95, a reduction of 2.8%[31] - The company’s total equity as of March 31, 2021, was ¥3,448,554,481.67, slightly up from ¥3,444,450,043.57 at the end of 2020[31] Shareholder Information - The total number of shareholders at the end of the reporting period was 115,557[12] - The company has a strong shareholder base with multiple funds holding 4,264,300 shares each, indicating diversified investment interest[15] - The company reported a total of 227,312,500 shares held by its largest shareholder, Guozhong (Tianjin) Water Services Co., Ltd., representing a significant portion of the equity structure[14] Operational Costs - Operating costs increased to ¥80,077,003.79, reflecting a rise of ¥28,734,096.72 or 55.97% year-over-year[20] - Total operating costs for Q1 2021 were ¥111,563,484.47, up 35.9% from ¥82,128,760.42 in Q1 2020[32] - Financial expenses surged by 187.07% to ¥1,387,938.84, primarily due to increased loan interest expenses from subsidiaries[20] Government Subsidies and Gains - Non-recurring gains and losses totaled CNY 5,635,841.83, primarily from financial management income and government subsidies[9] - The company received government subsidies amounting to CNY 2,610,607.43, which were closely related to its normal business operations[8] Changes in Assets - Accounts receivable decreased by 1,000,000.00 RMB, reflecting a 100% decline due to the transfer of notes during the period[17] - Prepaid accounts increased by 5,655,876.61 RMB, marking a 36.41% rise primarily due to increased advance payments for engineering by a subsidiary[18] - Other current assets rose by 9,273,385.84 RMB, a 30.68% increase attributed to higher financial investments made during the period[19] - Long-term deferred expenses increased by 1,774,721.84 RMB, a 38.86% rise due to ongoing renovations and related expenditures[19] - Contract liabilities decreased by 11,109,714.22 RMB, a 35.55% decline due to revenue recognition by subsidiaries[19] - Other current liabilities fell by 475,778.38 RMB, reflecting a 36.73% decrease linked to tax settlements related to contract liabilities[19] Research and Development - The company’s research and development expenses for Q1 2021 were ¥1,331,276.42, down from ¥1,508,553.02 in Q1 2020, a decrease of 11.7%[32] Management and Control - The company’s actual controller, Jiang Zhaobai, maintains significant influence over the board, ensuring strategic alignment across subsidiaries[15]

Financial Performance - The company achieved a net profit of RMB 30.54 million for the consolidated financial statements and RMB 52.96 million for the parent company in 2020[4]. - The parent company reported a distributable profit of RMB -20.97 million at the end of 2020, leading to no profit distribution or capital reserve increase for the year[4]. - The company did not extract the statutory surplus reserve fund during the reporting period[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, an increase of 54.72% from CNY 19,741,340.47 in 2019[21]. - The basic earnings per share for 2020 was CNY 0.0189, reflecting a growth of 54.92% compared to CNY 0.0122 in 2019[23]. - 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 at the end of 2019[21]. - The cash flow from operating activities for 2020 was negative CNY 217,465,063.21, a decline of 314.86% compared to CNY 101,211,212.95 in 2019[21]. - The company reported a net profit of CNY 16,755,727.25 in Q1 2020, but a loss of CNY 5,665,008.39 in Q4 2020[25]. - Non-recurring gains and losses for 2020 totaled CNY 57,366,766.63, compared to CNY 130,133,271.84 in 2019[27]. - The weighted average return on net assets for 2020 was 0.89%, an increase of 0.31 percentage points from 0.58% in 2019[23]. - The company’s total net assets at the end of 2020 were CNY 3,424,428,542.33, a slight increase of 0.04% from CNY 3,423,085,303.72 at the end of 2019[21]. - Total revenue for the year 2020 was 37,338.67 million, a decrease of 30.83% compared to the previous year[60]. - Total operating costs for the year were 25,107.24 million, down 30.83% from the previous year[64]. - The company reported a significant reduction in financial expenses, down 95.92% to 58.68 million RMB from 1,438.41 million RMB[67]. - The company’s income tax expenses rose by 26.79% to 3,246.54 million RMB, primarily due to the reversal of deferred tax assets[67]. Audit and Compliance - The company received a standard unqualified audit report from Zhongzhun Accounting Firm[7]. - The financial report is guaranteed to be true, accurate, and complete by the board of directors and senior management[7]. - The company has not violated decision-making procedures for external guarantees[5]. - The company has not faced any risks of suspension or termination of its listing during the reporting period[109]. - The company has not reported any significant changes in its internal control audit arrangements[108]. - The company has not disclosed any major litigation or arbitration matters that have not been previously announced[109]. - The company has not made any changes to its accounting policies that would significantly impact its financial condition or operating results[104]. - The company has engaged Zhongzhun Accounting Firm for auditing services with a fee of RMB 800,000 for the year[108]. - The company received a standard unqualified opinion in its internal control audit report, indicating compliance with accounting standards[195]. Business Operations - The company’s main business includes wastewater treatment, water supply, and environmental engineering services, operating under BOT, TOT, and BT models[33]. - The total wastewater treatment capacity across seven project companies is 41.34 million tons/day, with an existing capacity of 40.34 million tons/day[34]. - The water supply business operates through one project company with a contractual capacity of 21 million tons/day and an existing capacity of 11 million tons/day[35]. - The environmental engineering services are provided by subsidiaries specializing in water treatment project design, construction, and consulting[36]. - The industry is supported by national policies emphasizing water pollution prevention and ecological protection, creating a favorable market environment for wastewater treatment[38]. - The water supply industry is experiencing increased demand due to urbanization and rising living standards, leading to higher water quality requirements[38]. - The company has established a strong position in the water services industry, leveraging extensive experience in municipal water projects and environmental management[40]. - The company focuses on innovation and technology development to enhance its capabilities in the environmental sector[42]. - The company is actively pursuing investment and acquisition opportunities in the global environmental technology and health sectors[46]. - The company is actively upgrading its wastewater treatment facilities to meet national standards, with several projects achieving stable operations and price adjustments[50]. - The company is committed to environmental protection and has implemented measures to ensure compliance with national pollution discharge standards across its projects[144]. Market and Strategic Initiatives - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[20]. - The company is actively pursuing investment opportunities in the health and wellness industry, which is supported by government policies and is expected to grow significantly[89]. - The company aims to optimize its business structure and improve operational efficiency to meet the increasing market demand for diversified and systematic services[90]. - The company is considering strategic acquisitions to bolster its market position, with a budget of 500 million RMB allocated for potential deals[171]. - Market expansion plans include entering two new provinces, which are projected to increase market share by 10%[171]. - The company is exploring high-growth emerging markets and sectors through joint ventures and acquisitions, acknowledging the uncertainties involved[97]. Employee and Management - The total number of employees in the company and its main subsidiaries is 716, with 39 in the parent company and 677 in subsidiaries[178]. - The total compensation for all directors, supervisors, and senior management personnel at the end of the reporting period is 502.34 million[177]. - The company has established a performance-oriented compensation policy, linking performance results closely with salary adjustments and bonus distributions[180]. - A comprehensive training plan is in place, targeting new employees, current staff, and management, aimed at enhancing overall employee skills and corporate management levels[181]. - The company has a well-defined governance structure, including a board of directors with 9 members, 3 of whom are independent directors, ensuring effective checks and balances[185]. Legal and Regulatory Matters - The company faced a significant lawsuit involving a claim for RMB 21,702,869.50, which was settled in 2020, resulting in an increase in pre-tax profit by RMB 34,664,888.24[110]. - The company has initiated arbitration proceedings to recover funds due to the respondent's failure to pay[111]. - The company is actively pursuing legal action to protect its rights and recover outstanding payments[111]. - The company has not disclosed any significant penalties or rectifications for its directors, supervisors, or senior management during the reporting period[114]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 115,571, reflecting a slight increase from the previous month[157]. - The largest shareholder, Guozhong (Tianjin) Water Co., Ltd., holds 227,312,500 shares, representing 13.74% of total shares, with 227,000,000 shares pledged[160]. - The second largest shareholder, Lhasa Economic and Technological Development Zone Houkang Industrial Co., Ltd., holds 158,648,700 shares, accounting for 9.59% of total shares, with 90,648,700 shares pledged[160]. - The actual controller, Jiang Zhaobai, is also the chairman of Pengxin Group and has controlling interests in other listed companies[164]. Financial Management and Investments - The company has engaged in various wealth management activities, including a total of CNY 700 million in asset management plans[122]. - The company has invested CNY 320 million in short-term RMB wealth management products[122]. - The company has a total of CNY 200 million in bill wealth management products[122]. - The company raised a total of RMB 951,892,320.00 from a private placement of 198,310,900 shares at RMB 4.80 per share, with a net amount of RMB 922,342,009.10 after deducting issuance costs[131]. - The company redirected RMB 67.36 million of the raised funds, accounting for 64.55% of the original project investment, to the "Nanjing Sewage Treatment Project" to cover funding gaps[131]. Environmental Compliance and Monitoring - The company has implemented a comprehensive environmental monitoring scheme in line with national standards across its operational projects[146][150]. - The company’s wastewater treatment projects are subject to rigorous monitoring and testing protocols to ensure compliance with environmental regulations[147][149][151]. - Automatic monitoring of key pollutants such as COD, total phosphorus, total nitrogen, and ammonia nitrogen is conducted every two hours at the Qinhuangdao and Ma'anshan projects, with real-time data published online[147][149]. - Manual testing for wastewater pollutants is performed monthly, including parameters like pH, BOD, and heavy metals, across various projects[148][149][151].

证券代码：600187 证券简称：国中水务 编号：临 2020-059 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 2020 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（http://rs.p5w.net）参与公司本次投资者集体接待日活动，时间为 2020 年 11 月 12 日 14:00 至 16:30。 届时公司财务总监章韬先生将通过网络在线问答互动的形式，与投资者就公司治理、发展经营情况、 融资情况和可持续发展等投资者关注的问题进行交流。期间，公司高管将全程在线，实时回答投资者的提 问。 欢迎广大投资者积极参与。 特此公告。 黑龙江国中水务股份有限公司 董事会 20 ...

Financial Performance - Operating revenue for the first nine months was CNY 213,266,363.44, down 24.82% year-on-year[7] - Net profit attributable to shareholders for the first nine months was CNY 36,209,626.16, an increase of 37.33% compared to the same period last year[7] - Basic earnings per share rose by 40.88% to CNY 0.0224[7] - Total operating revenue for Q3 2020 was ¥75,926,114, a decrease of 27.1% compared to ¥104,175,034.93 in Q3 2019[44] - Net profit for the first three quarters of 2020 was a loss of ¥201,723,818.28, an improvement from a loss of ¥262,621,102.36 in the same period of 2019[42] - The net profit for Q3 2020 reached CNY 15,391,139.63, compared to CNY 6,337,614.22 in Q3 2019, reflecting a growth of 142.5%[49] - The total profit for Q3 2020 was CNY 26,101,569.91, significantly higher than CNY 6,337,614.22 in the same period last year[48] - The total comprehensive income for the first three quarters of 2020 was CNY 40,986,126.58, compared to CNY 71,768,894.65 in the same period of 2019[49] Cash Flow and Liquidity - Cash flow from operating activities showed a negative value of CNY -210,537,111.19, compared to CNY -12,841,536.23 in the same period last year[7] - The company reported a net cash outflow from operating activities of CNY -210,537,111.19, worsening by CNY -197,695,574.96 compared to the previous year[17] - The cash inflow from operating activities was CNY 301,942,584.21, a decrease of 32% compared to CNY 443,090,824.42 in the same period of 2019[50] - The company's cash and cash equivalents decreased by 59.30% from CNY 781,235,540.04 at the beginning of the year to CNY 317,950,008.38 at the end of the reporting period[12] - The company's cash and cash equivalents at the end of the period were CNY 317,950,008.38, down from CNY 485,892,414.16 at the end of Q3 2019[51] - The total cash outflow from operating activities was CNY 512,479,695.40, which is an increase of 12% compared to CNY 455,932,360.65 in the same period of 2019[50] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,716,689,549.75, a decrease of 1.40% compared to the end of the previous year[7] - The company's current liabilities totaled RMB 943,160,015.28 as of September 30, 2020, compared to RMB 1,038,825,672.74 at the end of 2019[36] - Total liabilities decreased to ¥845,877,056.18 from ¥888,101,468.61 year-over-year[41] - The company's total assets amounted to RMB 4,716,689,549.75, a decrease from RMB 4,783,876,778.22 at the end of 2019[35] - The total liabilities reached CNY 1,331,795,572.24, with current liabilities at CNY 1,038,825,672.74 and non-current liabilities at CNY 292,969,899.50[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 121,075[10] - The largest shareholder, Guozhong (Tianjin) Water Co., Ltd., held 227,312,500 shares, accounting for 13.74% of total shares[10] - The company received government subsidies amounting to CNY 17,529,975.61, primarily related to its subsidiary operations[9] Investment and Financing Activities - The net cash flow from investing activities improved by CNY 113,838,983.34, from CNY -399,834,437.16 to CNY -285,995,453.82[17] - The net cash flow from financing activities turned positive at CNY 33,264,290.60, a significant improvement of CNY 227,500,268.84 compared to the previous year[17] - The company raised a total of RMB 951,892,320.00 from a non-public stock issuance of 198,310,900 shares at RMB 4.80 per share, with a net amount of RMB 922,342,009.10 after deducting issuance costs[30] Other Financial Metrics - The weighted average return on equity increased by 0.29 percentage points to 1.06%[7] - Financial expenses decreased by 77.08%, from CNY 10,550,637.44 to CNY 2,418,272.94, primarily due to reduced interest expenses[15] - The company recorded an increase in credit impairment losses by 83.16%, from CNY 18,621,981.69 to CNY 34,107,830.66[14] - The company incurred credit impairment losses of CNY 12,500.00 in Q3 2020, a decrease from CNY 81,268.85 in Q3 2019[48]

Financial Performance - The company's operating revenue for the first half of the year was ¥137,340,249.44, a decrease of 23.48% compared to ¥179,490,731.52 in the same period last year[20]. - Net profit attributable to shareholders was ¥28,186,909.77, representing an increase of 110.73% from ¥13,375,865.88 in the previous year[21]. - Basic earnings per share increased by 116.05% to ¥0.0175 from ¥0.0081 in the same period last year[22]. - The total profit for the period was 26.55 million RMB, representing a year-on-year increase of 35.90%[44]. - The company processed 61.62 million tons of wastewater, a decrease of 17.39% compared to the previous year[45]. - The water supply volume was 14.46 million tons, down 17.90% year-on-year, while the sales volume was 11.42 million tons, a decrease of 15.62%[45]. - Operating revenue decreased by 23.48% to RMB 137.34 million, primarily due to the disposal of subsidiaries and reduced income from some subsidiaries affected by the pandemic[51]. - Operating costs decreased by 15.56% to RMB 99.74 million, reflecting the same factors affecting revenue[51]. - The company reported a net profit of RMB 1,005.79 million for Dongying Guozhong Environmental Technology Co., Ltd. in the first half of 2020[65]. Assets and Liabilities - Total assets decreased by 1.35% to ¥4,719,090,645.86 from ¥4,783,876,778.22 at the end of the previous year[21]. - The company's total assets as of June 30, 2020, were CNY 4,719,090,645.86, down from CNY 4,783,876,778.22, a decrease of 1.4%[134]. - Total liabilities decreased to CNY 1,256,712,616.56 from CNY 1,331,795,572.24, reflecting a reduction of 5.6%[134]. - The company's total equity increased slightly to CNY 3,462,378,029.30 from CNY 3,452,081,205.98, a rise of 0.3%[134]. - The total liabilities and equity at the end of the reporting period amount to 3,506,730,723.96, compared to 3,498,450,643.22 in the previous period[156]. Cash Flow - The net cash flow from operating activities was negative at RMB -248.31 million, impacted by bidding guarantee payments and reduced income from subsidiaries due to the pandemic[52]. - The company's cash flow from financing activities improved to RMB 36.54 million, compared to a negative RMB -222.69 million in the previous period[52]. - The net cash flow from operating activities for the first half of 2020 was -280,720,056.21 RMB, compared to -88,021,138.26 RMB in the same period of 2019[150]. - The total cash inflow from operating activities included 6,300,000.00 RMB from sales of goods and services[149]. - The total cash inflow from investment activities was 326,223,073.02 RMB, while cash outflow was 200,070,000.00 RMB, resulting in a net cash flow of 126,153,073.02 RMB[150]. Corporate Governance and Compliance - The financial report has been declared true, accurate, and complete by the company's responsible personnel, including the CEO and accounting head[7]. - The company has maintained a commitment to avoid any direct or indirect competition with its main business operations through its controlled enterprises[79]. - The company has not experienced any significant litigation or arbitration matters during the reporting period, aside from those already disclosed[79]. - The company has confirmed that all funds for the non-public issuance of shares will come from self-owned or self-raised funds, ensuring no indirect funding from the company[77]. - The company has adhered to the lock-up period for shares issued in the non-public offering, which lasts for 36 months[77]. Strategic Initiatives - The company is actively pursuing strategic transformation and expanding into the health industry while optimizing its environmental protection business[46]. - The company plans to actively invest in high-tech, high-growth emerging markets through joint ventures, partnerships, and acquisitions[72]. - The company established a joint venture with Shanghai Pengdu Health Technology Development Co., focusing on the construction and operation of medical care-oriented elderly care institutions[46]. - The company has terminated a major asset restructuring plan due to significant changes in the financial status and operating results of the target company, Chengdu Renxin Technology Co., Ltd.[47][48]. Environmental Compliance - The company is listed as a key pollutant discharge unit by the environmental protection department for its wastewater projects in Qinhuangdao, Taiyuan, Ma'anshan, and Dongying[91]. - The company has implemented automatic monitoring for key pollutants, ensuring real-time compliance with environmental standards across all wastewater projects[105]. - The company has established emergency response plans for environmental incidents across its wastewater treatment projects, enhancing operational safety and compliance[104]. - The automatic monitoring frequency for wastewater projects in Ma'anshan and Dongying is every two hours, with real-time data published on the city's online monitoring platform[109][110]. Shareholder Information - The total number of ordinary shareholders as of the reporting period end is 114,198[119]. - The largest shareholder, Guozhong (Tianjin) Water Co., Ltd., holds 227,312,500 shares, representing 13.74% of total shares[121]. - The company has established relationships with several funds, including Bosera Fund and E Fund, which are significant shareholders[123]. - The report emphasizes the importance of shareholder relationships and their impact on corporate governance and decision-making[123]. Accounting Policies - The company implemented new revenue recognition standards starting January 1, 2020, affecting financial statement adjustments without retroactive changes to comparable periods[112]. - The company follows the enterprise accounting standards, ensuring that financial statements reflect its financial position and operating results accurately[171]. - The company has established specific accounting policies for revenue recognition and research and development expenditures[170]. - The company has not reported any significant changes in accounting policies or prior period error corrections during the current period[159].