2021 年第三季度报告 证券代码：600283 证券简称：钱江水利 钱江水利开发股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本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。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人叶建桥、主管会计工作负责人何刚信及会计机构负责人（会计主管人员）彭伟军 保证季度报告中财务报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期 比上年同 | | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | | 年初至报告期末 | | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 390,395,473.10 | 15.88 | ...

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥698.65 million, representing a 20.06% increase compared to ¥581.92 million in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was approximately ¥93.33 million, an increase of 108.27% from ¥44.81 million in the previous year[17]. - The basic earnings per share for the first half of 2021 was ¥0.26, doubling from ¥0.13 in the same period last year[17]. - The net cash flow from operating activities for the first half of 2021 was approximately ¥169.75 million, up 23.77% from ¥137.15 million in the previous year[17]. - The total assets of the company at the end of the reporting period were approximately ¥6.03 billion, a 4.83% increase from ¥5.76 billion at the end of the previous year[17]. - The net assets attributable to shareholders at the end of the reporting period were approximately ¥2.02 billion, reflecting a 2.00% increase from ¥1.98 billion at the end of the previous year[17]. - The diluted earnings per share for the first half of 2021 was also ¥0.26, consistent with the basic earnings per share[17]. - The weighted average return on net assets increased to 4.60%, up 2.22 percentage points from 2.38% in the previous year[17]. - The net profit after deducting non-recurring gains and losses was approximately ¥79.90 million, a 151.07% increase from ¥31.82 million in the previous year[17]. Operational Highlights - The company has a total water supply design capacity of 180,000 tons per day, with self-supply and municipal water supply operations across multiple cities[22]. - The wastewater treatment business has a design capacity of 45,000 tons per day, focusing on meeting national standards for treated water[23]. - The company holds approximately 10% market share in the water supply market in Zhejiang Province, with integrated supply network projects[28]. - The company is actively pursuing technological innovation and has established standards for integrated water purification equipment and composite carbon sources[26][27]. - The company operates under various models including BOT, TOT, and PPP, enhancing its operational flexibility[25]. - The company aims to expand its market presence by leveraging strong government relationships and extending its industrial chain[28]. - The water industry is supported by national policies, indicating a broad market outlook due to urbanization and rising living standards[24]. - The company integrates design, construction, procurement, and financing platforms to improve operational efficiency[26]. - The company is focusing on enhancing its competitive edge through technological advancements and strategic partnerships[25]. - In the first half of 2021, the company's water supply volume reached 19,969,000 tons, an increase of 11.68% year-on-year, driven by growth in various regions including Zhoushan and Lishui[30]. - The company achieved a sewage treatment volume of 5,634,000 tons in the first half of 2021, representing a year-on-year growth of 6.79%[30]. Financial Position - The company's total assets at the end of the reporting period were significantly impacted by an increase in fixed asset investments, with cash outflows for fixed asset construction rising year-on-year[34]. - The company reported a 43.69% share of fixed assets in total assets, amounting to CNY 2,636,332,911.56[36]. - The company’s investment income for the first half of 2021 was CNY 18,810,269.23, a substantial increase of 6,672.29% compared to the previous year[34]. - The company’s management expenses increased by 24.09% year-on-year, totaling CNY 83,320,224.43[34]. - The company has established a strong operational management model that enhances efficiency and supports expansion into rural drinking water safety markets[30]. - The company's other equity investments remained unchanged at CNY 129,527,155.41, with no impact on current profits[40]. - The subsidiary Zhoushan Water Company reported a net profit of CNY 3,882.75 million, contributing to the overall performance[41]. - The company faces business expansion risks due to increasing competition and a reduction in quality water project resources[43]. - The company plans to enhance market expansion by deepening existing water projects and exploring new project avenues[43]. - The company is monitoring water quality closely and implementing upgrades to ensure safe and high-quality water supply[44]. Environmental Responsibility - The company actively fulfills environmental responsibilities and has implemented multiple measures to reduce carbon emissions, achieving certain results[82]. - The Ninghai County North Sewage Treatment Plant has been selected as a low-carbon demonstration project in urban sewage treatment[83]. - Environmental impact assessments and monitoring plans are publicly available on designated platforms[76][78][79]. - No administrative penalties for environmental issues were reported during the reporting period[80]. - The company continues to publish monitoring data on pollution discharge concentrations daily and monthly[81]. - The company has successfully operated the ecological wetland project since its completion in 2018, enhancing water quality[82]. Corporate Governance - The company has not reported any major litigation or arbitration matters during the reporting period[88]. - There were no significant changes in the company's share capital structure during the reporting period[93]. - The company has not disclosed any major contracts or other significant matters during the reporting period[92]. - The largest shareholder, China Water Investment Co., holds 118,436,629 shares, representing 33.55% of the total shares[96]. - Zhejiang New Energy Investment Group holds 89,802,172 shares, accounting for 25.44% of the total shares[97]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[98]. Accounting Policies - The financial statements have been approved by the board of directors on August 24, 2021, ensuring compliance with regulatory requirements[140]. - The company has included several subsidiaries in its consolidated financial statements, expanding its operational scope[141]. - The company has established specific accounting policies for financial instruments, fixed asset depreciation, and revenue recognition, reflecting its operational characteristics[144]. - The company adheres to the accounting standards, ensuring that financial statements accurately reflect its financial position and operating results[145]. - The accounting period for the company runs from January 1 to December 31 each year[146]. - The company classifies its operating cycle as short, using 12 months as the standard for asset and liability liquidity[147]. - The company's functional currency is Renminbi (RMB)[148]. - The company applies the equity method for accounting treatment in business combinations under common control[149]. - The company includes all subsidiaries under its control in the consolidated financial statements[150]. Revenue Recognition - Revenue recognition policies involve assessing contracts at the start date to identify performance obligations and determine if they are satisfied over time or at a point in time[196]. - Revenue is recognized based on the progress of performance obligations, with specific methods for water supply and engineering installation businesses outlined[198]. - Contract costs related to obtaining and fulfilling contracts are recognized as assets if they are expected to be recoverable, with amortization aligned with revenue recognition[199]. - If the carrying amount of contract-related assets exceeds the expected remaining consideration, impairment losses are recognized[200].

Financial Performance - Operating revenue rose by 12.13% to CNY 308,644,396.11 year-on-year[5] - Net profit attributable to shareholders surged by 217.57% to CNY 38,944,787.07 compared to the same period last year[5] - Basic and diluted earnings per share increased by 266.67% to CNY 0.11[5] - Total revenue for Q1 2021 was CNY 308,644,396.11, an increase of 12.1% compared to CNY 275,253,326.92 in Q1 2020[21] - Net profit for Q1 2021 was CNY 55,938,734.88, compared to CNY 26,459,546.84 in Q1 2020, representing a significant increase of 111.4%[21] - The net profit for Q1 2021 reached CNY 50,340,982.22, up from CNY 18,772,055.93 in the same period last year, representing a growth of 167.5%[23] - The total profit for Q1 2021 was CNY 66,779,358.69, significantly higher than CNY 30,870,096.59 in Q1 2020, marking a growth of 116.5%[23] Cash Flow - Net cash flow from operating activities increased by 49.47% to CNY 60,210,779.07[5] - Cash flow from operating activities increased by 49.47% to ¥60,210,779.07, driven by higher cash received from sales of goods and services[10] - The cash flow from operating activities for Q1 2021 was CNY 60,210,779.07, an increase of 49.5% from CNY 40,283,448.39 in Q1 2020[27] - In Q1 2021, the company generated a net cash flow from operating activities of ¥22,155,638.26, a significant improvement compared to a net outflow of ¥2,115,706.47 in Q1 2020[30] - The net cash flow from financing activities was -¥28,465,658.37, compared to -¥7,561,110.30 in the same period last year[31] Assets and Liabilities - Total assets increased by 3.16% to CNY 5,937,615,606.10 compared to the end of the previous year[5] - Current liabilities totaled ¥1,793,074,942.09, compared to ¥1,731,794,320.95 at the end of 2020, indicating a slight increase[14] - Non-current liabilities increased to ¥834,588,790.09 from ¥775,104,638.80, reflecting a rise in long-term borrowings[14] - Total liabilities amounted to CNY 3,209,258,181.01, with current liabilities at CNY 1,731,794,320.95 and non-current liabilities at CNY 1,477,463,860.06[34] - The total equity attributable to shareholders was CNY 1,984,199,581.19, with total equity including minority interests at CNY 2,546,589,940.56[34] Shareholder Information - The total number of shareholders reached 28,186 at the end of the reporting period[7] - The largest shareholder, China Water Investment Co., Ltd., holds 33.55% of the shares[8] Research and Development - R&D expenses rose by 47.51% to ¥2,405,007.13, reflecting increased investment in research and development[10] - Research and development expenses for Q1 2021 were CNY 2,405,007.13, an increase from CNY 1,630,372.88 in Q1 2020, reflecting a growth of 47.3%[21] Investment Income - Investment income surged by 239.06% to ¥5,830,086.98, primarily due to increased equity method investment income[10] - The company reported an investment income of CNY 10,066,955.56 in Q1 2021, recovering from a loss of CNY 981,977.22 in the same period last year[24] Other Financial Metrics - Weighted average return on equity improved by 1.28 percentage points to 1.94%[5] - The company reported non-recurring gains of CNY 4,125,741.97 during the period[6] - The company incurred financial expenses of CNY 7,711,091.67 in Q1 2021, slightly up from CNY 7,023,205.89 in Q1 2020[24] - The company recognized a cumulative impact of -CNY 932,317.56 due to the implementation of the new leasing standards, affecting retained earnings and minority interests[35] Future Plans - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[21] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[30]

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 138,611,912.16 in 2020, representing a 221.11% increase compared to RMB 43,165,993.67 in 2019[5]. - Total operating revenue for 2020 was RMB 1,315,071,908.75, an increase of 11.93% from RMB 1,174,868,291.01 in 2019[20]. - The net cash flow from operating activities was RMB 469,842,808.88, reflecting a 5.68% increase from RMB 444,598,491.29 in the previous year[20]. - The company's total assets at the end of 2020 amounted to RMB 5,755,848,121.57, up 11.30% from RMB 5,171,402,341.71 at the end of 2019[20]. - The basic earnings per share for 2020 was RMB 0.39, a significant increase of 225.00% compared to RMB 0.12 in 2019[21]. - The weighted average return on equity increased to 7.20% in 2020, up by 4.85 percentage points from 2.35% in 2019[21]. - The company reported a net profit of RMB 113,832,410.76 after deducting non-recurring gains and losses, which is a 971.02% increase from RMB 10,628,381.22 in 2019[20]. - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[164]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.5 per 10 shares, totaling RMB 52,949,363.7, based on a total share capital of 352,995,758 shares[5]. - For the year 2020, the company plans to distribute cash dividends of RMB 1.50 per 10 shares, totaling RMB 52,949,363.70, which represents 38.20% of the net profit attributable to shareholders[92]. - The company reported a net profit attributable to shareholders of RMB 43,165,993.67 for the year 2019, with basic earnings per share of RMB 0.12[90]. - No cash dividends or stock dividends were distributed for the year 2019, and no capital reserve was converted into share capital[91]. Operational Capacity and Services - The company operates a total water supply design capacity of 2.25 million tons per day, with a focus on integrated water supply and sewage treatment services[29]. - The wastewater treatment design capacity is 450,000 tons per day, with projects managed by various subsidiaries[30]. - The company achieved a daily water treatment capacity of 2.25 million tons, with a supply capacity of 1.8 million tons/day and sewage treatment capacity of 450,000 tons/day[36]. - The overall sewage treatment volume for 2020 was 10.877 million tons, remaining stable compared to the previous year despite challenges from the pandemic[36]. - The company has a total design capacity of 160,000 tons/day for wastewater treatment, with 120,000 tons/day currently completed[125]. Market and Growth Opportunities - The company anticipates growth opportunities in secondary water supply, rural environmental governance, and comprehensive water environment management in the future[30]. - The company plans to enhance its market competitiveness through digital economy and smart water management technologies[31]. - The company is focusing on mergers and acquisitions to enhance industry consolidation and expand its market presence[31]. - The company aims to enhance its market expansion strategies while managing risks associated with market competition and policy changes[87]. - The company plans to sell approximately 400 million tons of water and treat about 115 million tons of wastewater in 2021, aiming for a revenue of around 1.4 billion yuan[86]. Research and Development - Research and development expenses rose by 77.33% to CNY 6.59 million, reflecting increased investment in water treatment technology[39]. - The total R&D investment amounted to ¥6,585,139.69, representing 0.50% of the total revenue[50]. - The company aims to invest in R&D, allocating a significant portion of its budget to innovation[163]. Environmental Compliance and Social Responsibility - The company has achieved compliance with the Zhejiang provincial wastewater discharge standards, ensuring environmental protection[125]. - The average COD concentration for the wastewater treatment plants is 26.71 mg/L, which is below the discharge limit of 50 mg/L[116]. - The company has implemented a precision poverty alleviation plan in accordance with local government initiatives, demonstrating its commitment to social responsibility[113]. - The company is actively participating in rural revitalization initiatives, contributing to community development[113]. Governance and Management - The company has retained the same accounting firm, Tianjian Accounting Firm, for the 2020 financial and internal control audits, with a remuneration of RMB 700,000[96]. - The company has established a performance evaluation mechanism for senior management, which was approved by the board[182]. - The company has a strong governance framework with a dedicated remuneration and assessment committee overseeing compensation matters[168]. - The company has a total of 1,560 employees, with 44 in the parent company and 1,516 in major subsidiaries[171]. Financial Health and Risks - The company reported a decrease in other equity instrument investments, with a change of -3,022,847.70 RMB during the reporting period[28]. - The company’s short-term loans increased by 73.58% to CNY 538,615.72 million due to new bank loans[54]. - The company reported a significant increase in inventory, which rose by 40.07% to CNY 557,815.23 million, primarily due to unfinished pipeline installation projects[54]. - The company has no significant risks identified by the supervisory board during the reporting period[181].

Financial Performance - Operating revenue for the first nine months reached CNY 918,812,546.86, a 7.24% increase year-on-year[7] - Net profit attributable to shareholders surged by 388.29% to CNY 89,925,201.27 compared to the same period last year[7] - Basic and diluted earnings per share increased by 400.00% to CNY 0.25[8] - Total operating revenue for Q3 2020 reached ¥336,890,350.86, an increase of 9.4% compared to ¥307,545,433.26 in Q3 2019[24] - Net profit attributable to shareholders for the first three quarters of 2020 was ¥358,760,003.21, compared to ¥268,834,801.94 in the same period of 2019, marking a significant increase[20] - Net profit for Q3 2020 reached CNY 64,354,430.20, a significant increase from CNY 44,044,353.79 in Q3 2019, representing a growth of 46%[26] - Total profit for Q3 2020 was ¥8,508,835.23, compared to ¥3,045,220.37 in Q3 2019, marking an increase of approximately 179.5%[30] Assets and Liabilities - Total assets increased by 10.54% to CNY 5,716,467,154.85 compared to the end of the previous year[7] - Total liabilities as of September 30, 2020, amounted to ¥3,217,220,551.93, an increase from ¥2,819,202,699.51 at the end of 2019[22] - Non-current liabilities totaled ¥1,499,896,209.74 as of September 30, 2020, compared to ¥1,280,380,756.74 at the end of 2019, indicating a rise of 17.2%[22] - The company's total equity increased to ¥2,499,246,602.92 as of September 30, 2020, compared to ¥2,352,199,642.20 at the end of 2019, showing a growth of 6.3%[20] - Total liabilities amounted to CNY 2,819,202,699.51, an increase from CNY 2,778,551,717.41, indicating a change of CNY 40,650,982.10[39] Cash Flow - Cash flow from operating activities decreased by 11.61% to CNY 246,071,473.85 compared to the same period last year[7] - Net cash flow from financing activities increased by 243.97% to ¥261,972,371.94, mainly due to higher cash received from loans compared to the previous year[14] - The cash flow from operating activities for the first three quarters of 2020 was ¥246,071,473.85, slightly down from ¥278,403,727.25 in the first three quarters of 2019[32] - The company experienced a cash outflow of 519,079,829.95 RMB related to operating activities, compared to 396,762,384.43 RMB in Q3 2019[35] Shareholder Information - The total number of shareholders reached 31,968 by the end of the reporting period[9] - The largest shareholder, China Water Investment Co., Ltd., holds 33.55% of the shares[9] Research and Development - Research and development expenses amounted to ¥6,345,409.35, indicating a focus on water treatment technology development[13] - Research and development expenses amounted to CNY 2,464,348.64 for Q3 2020, indicating a continued investment in innovation[25] Government Subsidies and Other Income - Government subsidies closely related to the company's operations amounted to CNY 41,122,911.52 for the first nine months[8] - Non-operating income for the first nine months totaled CNY 5,585,003.97[9] - Other income increased by 49.26% to ¥44,748,213.74, primarily due to higher government subsidies received by subsidiaries[13] - Other income for Q3 2020 was CNY 26,441,347.68, significantly higher than CNY 8,607,437.12 in Q3 2019, representing a growth of 208%[25] Investment Income - Investment income improved by 133.05% to ¥12,452,285.86, resulting from increased equity method investment returns[13] - The company's investment income for Q3 2020 was CNY 12,174,532.29, compared to CNY 14,095,746.26 in Q3 2019, indicating a slight decrease of 13%[25] - The company reported investment income of ¥92,498,419.23 for the first three quarters of 2020, a significant increase from ¥35,200,534.70 in the same period of 2019[30]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 581,922,196, representing a 5.94% increase compared to CNY 549,275,919 in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached CNY 44,814,698, a significant increase of 388.44% from a loss of CNY 15,537,020 in the previous year[19]. - The basic earnings per share for the first half of 2020 was CNY 0.13, compared to a loss of CNY 0.04 per share in the same period last year, marking a 425% increase[20]. - The weighted average return on net assets increased by 3.24 percentage points to 2.38% from -0.86% in the previous year[20]. - The company reported a total revenue of CNY 58.192 million, an increase of 5.94% compared to the same period last year[38]. - The net profit attributable to the parent company reached CNY 4.481 million, showing a significant year-on-year growth of 388.44%[38]. - The company reported a total profit of ¥78,323,036.51 for the first half of 2020, compared to a loss of -¥6,939,847.50 in the same period of 2019, showcasing a strong recovery in overall profitability[126]. Cash Flow and Financial Position - The net cash flow from operating activities was CNY 137,152,129, showing a decrease of 4.58% compared to CNY 143,740,486 in the same period last year[19]. - The company’s cash flow from financing activities increased by 298.23% year-on-year, primarily due to a rise in cash received from borrowings[46]. - The total cash and cash equivalents at the end of the first half of 2020 amounted to ¥837,850,228.12, an increase from ¥513,768,707.65 at the end of the first half of 2019[130]. - Cash inflow from financing activities reached CNY 790,000,000.00, compared to CNY 240,000,000.00 in the previous year, marking an increase of about 229%[133]. - The company reported an investment activity cash flow net amount of -¥124,833,584.88 for the first half of 2020, compared to -¥48,347,663.78 in the same period of 2019, indicating increased investment outflows[130]. Assets and Liabilities - The total assets of the company increased by 8.75% to CNY 5,624,013,038 from CNY 5,171,402,341.71 in the previous year[19]. - Total liabilities were reported at RMB 3,226,988,049.24, up from RMB 2,819,202,699.51, representing an increase of around 14.4%[115]. - The company reported a significant increase in construction in progress, rising to RMB 286,509,684.69 from RMB 156,030,438.22, which is an increase of approximately 83.6%[114]. - Accounts receivable increased by 32.17% to ¥99,625,432.80, primarily due to revenue growth[47]. - Short-term borrowings rose by 64.51% to ¥510,468,358.32, reflecting new bank loans[48]. Market and Industry Outlook - The company operates in the water supply and sewage treatment sectors, with a total water supply design capacity of 171,000 tons/day and sewage treatment capacity of 32,000 tons/day[25][26]. - The sewage treatment market is expected to grow due to increasing urbanization and stricter environmental regulations, with a target sewage treatment rate of 95% by the end of 2020[31]. - The company anticipates a positive outlook for the water treatment and environmental protection industries in China, driven by ongoing policy support and market demand[33]. - The company benefits from national policies supporting the water industry, with a projected investment market exceeding one trillion yuan for urban water supply infrastructure[27][28]. Operational Efficiency and Innovations - The company has adopted various operational models, including BOT and TOT, to enhance project management and service delivery in the water sector[25]. - The company is focused on upgrading sewage treatment facilities to meet higher environmental standards, creating new opportunities for technological advancement[31]. - The company has implemented advanced treatment technologies, including A/A/O processes and UV disinfection, to enhance wastewater treatment efficiency[82]. - Research and development expenses amounted to CNY 3.881 million, reflecting the company's commitment to innovation[46]. Social Responsibility and Community Engagement - The company actively participated in rural water supply projects, expanding coverage and enhancing operational efficiency[41]. - The company engaged in targeted poverty alleviation efforts, including a donation of 5,000 RMB to five struggling families in a partnered community[64]. - The company donated 33 tons of sodium hypochlorite disinfectant to support pandemic response efforts[42]. - The company plans to continue its poverty alleviation actions in the second half of the year after a pause due to the pandemic[68]. Compliance and Governance - The report includes a risk statement regarding forward-looking statements, advising investors to be aware of investment risks[6]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[108]. - There were changes in the board of directors, with Chen Xiaojian resigning and Yang Xianan being elected as a new director[110]. Environmental Compliance - The company has no instances of exceeding pollutant discharge standards across its facilities[74][79]. - The company’s wastewater treatment facilities are compliant with the GB18918-2002 Class A standard, ensuring high environmental protection[79]. - The company has implemented environmental monitoring plans and emergency response plans for its sewage treatment plants, ensuring compliance with environmental regulations[92][94].

Financial Performance - The company achieved a net profit attributable to shareholders of CNY 43,165,993.67, a decrease of 25.55% compared to the previous year[5]. - The basic earnings per share (EPS) for 2019 was CNY 0.12, down 25.00% from CNY 0.16 in 2018[21]. - Operating revenue for 2019 was CNY 1,174,868,291.01, representing a 10.03% increase from CNY 1,067,746,400.89 in 2018[20]. - The net cash flow from operating activities was CNY 444,598,491.29, an increase of 11.45% compared to CNY 398,920,865.66 in 2018[20]. - The company's total assets at the end of 2019 were CNY 5,171,402,341.71, a 2.56% increase from CNY 5,042,436,462.14 in 2018[20]. - The net assets attributable to shareholders at the end of 2019 were CNY 1,856,900,840.50, up 2.62% from CNY 1,809,473,636.13 in 2018[20]. - The company did not distribute any cash or stock dividends for the year 2019[5]. - The company reported a significant decrease of 65.89% in net profit after deducting non-recurring gains and losses, amounting to CNY 10,628,381.22[20]. - The weighted average return on net assets was 2.35%, down from 3.19% in 2018[22]. Revenue and Growth - The company's total revenue for Q4 reached 318,046,938.35 RMB, showing a steady increase from Q1's 258,768,194.24 RMB[24]. - The net profit attributable to shareholders for Q3 was 33,953,267.48 RMB, a significant recovery from a loss of -30,230,667.78 RMB in Q2[24]. - Operating cash flow increased consistently throughout the year, reaching 166,194,764.04 RMB in Q4, up from 47,981,840.09 RMB in Q1[24]. - The company reported a net profit of CNY 57,978,487.43 for the year 2018, with basic earnings per share of CNY 0.16[95]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the fiscal year, representing a 15% year-over-year growth[165]. Water Supply and Treatment Capacity - The company added a total of 10.5 million tons/day in water supply capacity, including the relocation of the Lanxi Zhiyuan Water Plant and the acquisition of the Zhujiajian Water Plant[31]. - The total design capacity for wastewater treatment increased to 32 million tons/day, with a new capacity of 1 million tons/day added in Lishui[32]. - The company's daily water treatment capacity reached 2.03 million tons, with a supply capacity of 1.71 million tons/day and sewage treatment capacity of 320,000 tons/day[44]. - The company's water supply business has a total design capacity of 171,000 tons/day, with a utilization rate of 63.09%[65]. - The wastewater treatment business has a total design capacity of 32,000 tons/day, with a utilization rate of 93.23%[65]. Market Position and Strategy - The company is positioned as a leading enterprise in the water industry in Zhejiang Province, with strong competitive capabilities[39]. - The company has a significant market presence, with the top ten enterprises in the water supply industry holding only 16.5% of the market share[36]. - The company is actively pursuing a transition from investment management to investment operation, focusing on internal management and risk control[43]. - The company anticipates continued growth in the water treatment and environmental protection sectors, driven by increasing urbanization and improved living standards[33]. - The company is expanding its water supply services across various regions, including Zhejiang Province, with multiple operational models[64]. Environmental and Community Engagement - The company’s environmental management practices comply with local and national standards, ensuring sustainable operations[121]. - The company actively participates in community development and poverty alleviation programs, contributing to local economic growth[116]. - The company has established a partnership with various communities for targeted poverty alleviation, providing financial support for community projects[117]. - The company has committed to continue its poverty alleviation initiatives in accordance with local government guidelines[119]. - The company has no instances of exceeding pollutant discharge limits in 2019[122]. Financial Management and Investments - The company provided guarantees totaling 117,730,000.00 RMB to its subsidiaries during the reporting period[109]. - The company has entrusted 300,000,000.00 RMB of its own funds for financial management, with no overdue amounts[111]. - The company has implemented a cash management program for idle funds, investing in safe and liquid financial products to increase returns[177]. - The total amount of guarantees provided by the company, including those to subsidiaries, is 255,280,000.00 RMB, which accounts for 13.75% of the company's net assets[109]. - The company’s total investment in major non-equity projects in 2019 amounted to 55.27 million RMB across various water treatment and supply facilities[83]. Future Outlook and Strategic Plans - The company plans to expand its market presence by entering three new provinces in the upcoming year, targeting a 30% increase in market share[167]. - A strategic acquisition of a local water management firm is in progress, which is anticipated to enhance service capabilities and increase revenue by 5%[166]. - The management highlighted the importance of cost management to improve overall profitability in the coming periods[164]. - The company plans to implement water plant process upgrades and strengthen water quality monitoring to ensure safe and high-quality water supply[92]. - The company has outlined a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion CNY[167].

Financial Performance - Operating revenue for the period was ¥275,253,326.92, reflecting a growth of 6.37% year-on-year[5] - Net profit attributable to shareholders was ¥5,975,573.23, a decrease of 18.58% compared to the same period last year[5] - Basic earnings per share decreased by 25.00% to ¥0.03 from ¥0.04 in the previous year[5] - The company reported non-recurring gains of ¥6,287,737.45 for the period[9] - The company’s weighted average return on equity decreased by 0.15 percentage points to 0.66%[5] - The diluted earnings per share also decreased by 25.00% to ¥0.03 from ¥0.04 in the previous year[5] - The gross profit margin for Q1 2020 was approximately 10.0%, down from the previous year's margin[23] - The net profit for Q1 2020 was CNY 18,772,055.93, a decrease of 19.5% from CNY 23,299,452.27 in Q1 2019[24] - The company reported a total comprehensive income of -¥545,581.11 for Q1 2020, compared to -¥2,447,006.05 in Q1 2019[28] Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,226,767,786.03, an increase of 1.07% compared to the end of the previous year[5] - Accounts receivable increased by 51.34% to RMB 114,075,580.76 due to revenue growth[12] - Prepayments rose by 39.79% to RMB 9,535,634.95 primarily from increased advance payments by subsidiaries[12] - Other current assets decreased by 64.12% to RMB 20,428,397.97 due to reclassification under new revenue standards[12] - Construction in progress increased by 38.14% to RMB 215,533,395.68 due to higher investment in engineering projects by subsidiaries[12] - Contract liabilities reached RMB 507,678,174.29, reflecting a 100% increase due to reclassification under new revenue standards[12] - The total liabilities were CNY 716,956,567.72, compared to CNY 712,177,186.96 in the previous year, indicating a slight increase[21] - The total assets as of March 31, 2020, were 5,171,402,341.71 RMB, compared to 5,130,751,359.61 RMB at the beginning of the year, showing an increase of approximately 0.8%[37] - The total liabilities as of March 31, 2020, were 2,819,202,699.51 RMB, up from 2,778,551,717.41 RMB at the beginning of the year, indicating an increase of approximately 1.5%[38] Cash Flow - Cash flow from operating activities was ¥40,283,448.39, down 16.04% from the previous year[5] - Net cash flow from operating activities decreased by 16.04% to RMB 40,283,448.39[13] - The cash flow from operating activities for Q1 2020 was ¥40,283,448.39, down from ¥47,981,840.09 in Q1 2019[30] - The investment activities resulted in a net cash outflow of -¥55,765,828.16 for Q1 2020, compared to -¥79,387,015.84 in Q1 2019, indicating improved cash management[31] - The company reported a total cash outflow from operating activities of 44,945,398.54 RMB in Q1 2020, compared to 63,771,558.80 RMB in Q1 2019, a decrease of approximately 29.5%[34] Shareholder Information - The total number of shareholders at the end of the reporting period was 24,669[10] - The largest shareholder, China Water Investment Co., Ltd., held 33.55% of shares, totaling 118,436,629 shares[10] Research and Development - Research and development expenses surged by 100% to RMB 1,630,372.88 due to increased R&D investments[13] - The company reported a decrease in research and development expenses to CNY 1,630,372.88 in Q1 2020, compared to the previous year[23] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[22] - The company implemented new revenue and leasing standards starting January 1, 2020, which may impact future financial reporting[35] - The company is not applicable for the retrospective adjustment of prior comparative data under new accounting standards[44]

Financial Performance - Operating revenue for the first nine months rose by 9.06% to CNY 856,821,352.66 year-on-year[6] - Net profit attributable to shareholders decreased by 79.52% to CNY 18,416,247.43 compared to the same period last year[6] - Basic and diluted earnings per share fell by 80.00% to CNY 0.05[7] - The weighted average return on equity decreased by 3.80 percentage points to 1.01%[7] - Total operating revenue for Q3 2019 reached ¥307.55 million, an increase of 7.8% compared to ¥285.23 million in Q3 2018[28] - Net profit for Q3 2019 was ¥44.04 million, compared to ¥38.91 million in Q3 2018, representing a growth of 13.5%[29] - The total profit for Q3 2019 was ¥55.60 million, an increase from ¥47.64 million in Q3 2018, marking a rise of 16.5%[29] - The company’s investment income for Q3 2019 was reported at ¥14.10 million, down from ¥16.63 million in Q3 2018, indicating a decline of 15.2%[29] Cash Flow - Net cash flow from operating activities decreased by 20.28% to CNY 278,403,727.25 year-on-year[6] - Net cash flow from investing activities improved by 66.29% to -¥154,010,687.32 due to reduced investment in financial products[14] - Cash flow from operating activities for the first three quarters of 2019 was ¥993,070,066.21, an increase from ¥844,173,995.32 in the same period of 2018, showing a growth of 17.7%[35] - Net cash flow from operating activities decreased to CNY 278,403,727.25 in Q3 2019 from CNY 349,237,369.89 in Q3 2018, reflecting a decline of approximately 20.3%[36] - Cash inflow from financing activities totaled CNY 772,635,000.00 in Q3 2019, an increase from CNY 636,444,279.36 in Q3 2018, representing a growth of approximately 21.4%[36] Assets and Liabilities - Total assets increased by 2.32% to CNY 5,159,370,743.13 compared to the end of the previous year[6] - Total liabilities increased to CNY 2,847,983,656.03 from CNY 2,781,141,843.72, representing a growth of approximately 2.9% year-over-year[20] - Current liabilities decreased to CNY 1,519,565,755.94 from CNY 1,725,448,946.92, a reduction of about 11.9%[20] - Non-current liabilities rose to CNY 1,328,417,900.09 from CNY 1,055,692,896.80, indicating an increase of approximately 25.7%[20] - The company's total current assets decreased to CNY 331,675,753.42 from CNY 529,918,009.71, a decline of about 37.3%[24] Shareholder Information - The total number of shareholders at the end of the reporting period was 24,211[11] - The largest shareholder, China Water Investment Co., Ltd., holds 33.55% of the shares[11] - The company reported a capital reserve of ¥1,161,605,754.04 and undistributed profits of ¥222,537,151.82[44] Government Support - The company received government subsidies totaling CNY 26,423,362.37 during the reporting period[8] - Deferred income tax assets rose by 88.94% to ¥30,192,225.60, mainly from government subsidies recognized by subsidiaries[13] Investment and Expenses - Investment income dropped by 186.63% to -¥37,675,865.67, attributed to decreased earnings from the equity method investment in Paradise Silicon Valley[14] - The company experienced a credit impairment loss of ¥4,000,798.17 in Q3 2019, which was not present in the previous year[32] - The company reported a decrease in tax expenses for Q3 2019, totaling ¥11.56 million compared to ¥8.72 million in Q3 2018[29] Comprehensive Income - The total comprehensive income for Q3 2019 was ¥44.04 million, up from ¥28.28 million in Q3 2018[30] - Total comprehensive income for Q3 2019 was ¥3,044,755.92, contrasting with a loss of ¥3,277,374.51 in Q3 2018[33]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 549,275,919.40, representing a 9.77% increase compared to CNY 500,398,293.96 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was a loss of CNY 15,537,020.05, a decrease of 126.23% from a profit of CNY 59,224,241.34 in the previous year[19]. - The net cash flow from operating activities was CNY 143,740,486.82, down 15.83% from CNY 170,776,617.21 in the same period last year[19]. - Basic earnings per share for the first half of 2019 were -CNY 0.04, a decrease of 123.53% from CNY 0.17 in the same period last year[20]. - The weighted average return on net assets was -0.86%, a decrease of 4.05 percentage points from 3.19% in the previous year[20]. - Operating costs rose to RMB 340.52 million, reflecting a 14.89% increase from RMB 296.39 million year-on-year[33]. - The company's net profit attributable to the parent company for the first half of 2019 was a loss of RMB 15.54 million, a decline of 126% compared to a profit of RMB 59.22 million in the same period last year[34]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,998,035,473.46, a decrease of 0.88% from CNY 5,042,436,462.14 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were CNY 1,793,936,616.08, down 0.86% from CNY 1,809,473,636.13 at the end of the previous year[19]. - The company's long-term borrowings increased by 42.91% to RMB 574.77 million, up from RMB 402.19 million in the previous period[35]. - The company's receivables increased by 49.52% to RMB 79.74 million, compared to RMB 53.33 million in the previous period[35]. - Current liabilities totaled CNY 1,448,588,992.18, down from CNY 1,725,448,946.92, showing a reduction of about 16.02%[96]. - Total liabilities decreased to CNY 703,284,776.58 from CNY 866,964,025.81, reflecting a reduction in financial obligations[101]. Operational Highlights - The company achieved a water supply volume of 169.88 million tons in the first half of 2019, representing a year-on-year increase of 4.66%[29]. - The wastewater treatment volume reached 53.72 million tons, a year-on-year growth of 4.92%[29]. - The company has a total water supply design capacity of 1.71 million tons per day, with 1.51 million tons per day for tap water supply and 320,000 tons per day for wastewater treatment[24][25]. - The company operates in a public utility sector characterized by natural monopoly, with significant market opportunities arising from urbanization and increasing water quality standards[25]. - The company has a competitive edge due to its scale, with a total water supply and wastewater treatment capacity of 2.03 million tons per day, leading to reduced production and management costs[27]. Investment and Expansion - The company plans to invest RMB 198.17 million in the expansion project of the Yongkang Qiaoxia Water Plant, which will have a supply capacity of 60,000 tons per day[36]. - The construction in progress increased by 70.39% to RMB 262.35 million, compared to RMB 153.97 million in the previous year[36]. - The company has reduced its investment in financial products compared to the previous year, impacting cash flow from investing activities[32]. Risks and Compliance - The report includes a risk statement regarding forward-looking statements, indicating potential risks for investors[6]. - The company faces business expansion risks due to intensified competition and increased acquisition costs in the domestic water services market, impacting the speed of business growth[39]. - Policy risks related to water pricing adjustments may affect profitability, prompting the company to strengthen communication with government departments for timely price adjustment applications[40]. - Environmental regulations increase the responsibility for wastewater treatment compliance, which may lead to higher operational costs if the company fails to meet standards[40]. - The company is implementing measures to monitor water quality and upgrade facilities to ensure safe and high-quality water supply amid rising operational costs[41]. Community Engagement - The company has committed RMB 50,000 annually for community development in partnership with the Daishan County, Zhejiang Province, as part of its poverty alleviation efforts[52]. - A total of RMB 75,000 was donated for various poverty alleviation initiatives, including RMB 20,000 for the "Civilized Unit Urban-Rural Pairing" project and RMB 5,000 for the restoration of a patriotic education base[53]. Accounting and Financial Reporting - The company’s financial statements are prepared on a going concern basis, indicating no significant doubts about its ability to continue operations for the next 12 months[135]. - The company adheres to accounting standards, ensuring that its financial statements accurately reflect its financial position and operating results[137]. - The company recognizes government subsidies related to income as deferred income to offset future costs or losses, impacting current profit and loss when recognized[191]. - The company implemented changes in accounting policies effective January 1, 2019, due to the revised financial instrument standards, impacting various financial statement items[198].