Financial Performance - Basic earnings per share for 2022 was CNY 0.75, a decrease of 6.25% compared to CNY 0.80 in 2021[34] - Diluted earnings per share for 2022 was CNY 0.68, down 6.85% from CNY 0.73 in 2021[34] - The weighted average return on equity for 2022 was 11.18%, a decrease of 2.15 percentage points from 13.33% in 2021[34] - The net profit attributable to shareholders for 2022 was CNY 804,285,914.70, a decrease of 6.52% from CNY 860,348,555.40 in 2021[50] - The net cash flow from operating activities for 2022 was CNY 834,552,421.08, down 31.24% from CNY 1,213,764,912.23 in 2021[50] - The company reported a decrease in the basic earnings per share after deducting non-recurring gains and losses to CNY 0.61, down 6.15% from CNY 0.65 in 2021[34] - The company reported a net profit margin of approximately 9.8% based on its net profit of RMB 17,076.73 million from total revenue of RMB 174,123.30 million[92] Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.8 per 10 shares, including tax[4] - The total amount of cash dividends distributed is 192,863,605.14 RMB, accounting for 23.98% of the net profit attributable to ordinary shareholders in the consolidated financial statements[185] - The company declared a cash dividend of 1.8 RMB per 10 shares, totaling 192,863,605.14 RMB, which represents 23.98% of the net profit attributable to ordinary shareholders in the consolidated financial statements[185] Government Subsidies and Non-Operating Income - The company received government subsidies amounting to CNY 103,493,198.09 in 2022, down from CNY 121,818,061.97 in 2021[38] - The net profit attributable to shareholders for 2022 included non-operating income of CNY 150,274,687.33, compared to CNY 163,977,849.31 in 2021[39] Internal Control and Governance - The company completed the rectification of internal control deficiencies during the reporting period, ensuring effective operation of internal controls[21] - The company has taken effective measures to strengthen internal control management and ensure the effectiveness of internal controls since the restructuring of the board in June 2022[117] - The company has established a governance structure to enhance decision-making efficiency and quality, including the formation of various committees[102] - The company has engaged in ongoing discussions regarding potential mergers and acquisitions to expand its market presence[132] - The company has been actively adjusting its governance structure to enhance operational efficiency and decision-making processes[140] Market and Sector Developments - The company has initiated a dual-driven development strategy focusing on "environmental protection + new energy" following the acquisition by Zijin Mining[66] - The company is actively pursuing market opportunities in the flue gas treatment sector due to the anticipated increase in coal power projects in China[59] - The company aims to expand its market presence in non-electric flue gas treatment and enhance its capabilities in soil remediation and water treatment projects[112] - The company is positioned to benefit from the "dual carbon" initiative, with significant market opportunities in energy storage, wind power, and photovoltaics, although it anticipates increased competition and potential profit volatility[99] New Energy Initiatives - New energy projects are underway, including clean energy, energy storage cells, and battery systems, with significant projects in Heilongjiang, Serbia, and Guyana[66] - The company has initiated its layout in the new energy sector, with the first 5GWh lithium iron phosphate energy storage cell project underway, and a joint venture with Honeycomb Energy for a 2GWh energy storage PACK project[68] - In 2022, the new energy sector saw rapid development, with China adding 933.8MW/1,911.0MWh of new energy storage projects in the first three quarters, a year-on-year increase of 113%[75] - By the end of 2022, the cumulative installed capacity of operational energy storage projects in China reached 50GW, with a significant increase in domestic energy storage bidding volume by 355.5% month-on-month in October[77] - The wind and solar power industries experienced substantial growth, with an expected addition of over 120GW of new installed capacity in 2022, representing a year-on-year increase of approximately 17%[77] Environmental Business Performance - The environmental business has remained stable overall since 2022, with strong competitiveness in air pollution control, achieving significant contracts in coal power, steel, and coking industries, and successfully signing multiple overseas export projects[68] - The company has maintained its leading position in the air pollution control industry, with its products consistently ranking first in sales for over a decade[83] - The non-electricity sector is currently the main battlefield for flue gas governance, with over 60% of steel production capacity in China having completed ultra-low emission transformations[81] Technological Advancements - The company has developed effective low-carbon environmental technology for solid waste disposal, which can reduce CO2 emissions by over 37,000 tons annually when using 5% sludge in a 660MW coal-fired power plant[148] - The company has implemented a series of technological breakthroughs to support carbon capture and utilization, as well as waste disposal[149] - The implementation of carbon capture and utilization technologies in waste incineration plants aims to minimize energy consumption and reduce NOx emissions[159] - The company’s projects in construction and metallurgy are estimated to reduce CO2 emissions by over 1.5 million tons annually through advanced dust and nitrogen oxide control technologies[176] Employee and Management Initiatives - The company has optimized its organizational structure and implemented a talent empowerment initiative, focusing on leadership potential and enhancing human resource management efficiency[73] - The employee stock ownership plan has been implemented in ten phases from 2014 to 2023, involving a total of 2,543 employees across various phases[188] - The company has a robust training program aimed at enhancing employee skills and leadership capabilities, focusing on various professional development areas[195] Challenges and Regulatory Issues - The company has faced administrative regulatory measures from the Fujian Securities Regulatory Bureau, including a warning letter issued on November 14, 2022[154] - The company has not disclosed a separate social responsibility report or ESG report for the year[150] - The company experienced a board reorganization, resulting in the departure of several directors and senior management personnel[153] Strategic Focus - The company emphasizes the importance of advanced technology and efficient management to survive and thrive in the increasingly competitive environmental protection industry[94] - The company is committed to high-quality development in waste incineration power generation and hazardous waste disposal, focusing on operational management and process optimization[112]

Financial Performance - The company's operating revenue for Q3 2022 was ¥2,588,937,043.88, a decrease of 22.97% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2022 was ¥254,328,085.68, down 12.03% year-on-year[5]. - The basic earnings per share for Q3 2022 was ¥0.23, reflecting a decline of 13.74% compared to the previous year[9]. - Total operating revenue for the first three quarters of 2022 was CNY 7,477,732,033.29, a decrease of 9.2% compared to CNY 8,236,735,615.44 in the same period of 2021[31]. - Net profit attributable to shareholders of the parent company for the first three quarters of 2022 was CNY 636,082,833.53, a decrease of 8.2% compared to CNY 693,112,928.06 in 2021[32]. - Net profit for the first three quarters of 2022 was CNY 701,429,106.63, a decline of 31.3% from CNY 1,020,603,865.53 in the previous year[51]. Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥26,976,603,019.13, showing a slight increase of 0.25% from the end of the previous year[9]. - The company's total liabilities as of the end of the reporting period were CNY 19,618,679,431.70, a slight decrease from CNY 19,885,193,999.32 in the previous period[29]. - The total equity attributable to shareholders of the parent company increased to CNY 7,201,565,038.95 from CNY 6,887,767,299.21, reflecting a growth of 4.5%[29]. - The company's total assets decreased to CNY 22,588,069,011.89 from CNY 23,927,856,360.42, a decrease of 5.6%[46]. - Total liabilities decreased to CNY 16,127,438,068.82 from CNY 17,898,642,438.07, a reduction of 9.9%[46]. Cash Flow - The net cash flow from operating activities decreased by 26.21% year-on-year, totaling ¥257,220,615.31[5]. - In the first three quarters of 2022, the cash inflow from operating activities was CNY 5,405,426,971.63, a decrease of 3.81% compared to CNY 5,619,521,351.79 in the same period of 2021[36]. - The net cash flow from operating activities for the first three quarters of 2022 was CNY 257,220,615.31, down 26.19% from CNY 348,607,160.13 in 2021[36]. - The cash inflow from investment activities totaled CNY 3,637,737,911.46, an increase of 35% compared to CNY 2,696,317,508.66 in the previous year[38]. - The net cash flow from investment activities was CNY 107,681,595.29, a significant improvement from a negative CNY 2,236,798,124.24 in the same period of 2021[38]. - The cash outflow from financing activities was CNY 2,433,517,723.43, compared to CNY 1,898,334,679.07 in the previous year, indicating an increase of 28.19%[39]. - The net cash flow from financing activities was negative CNY 672,917,723.43, contrasting with a positive CNY 682,189,920.93 in the same period of 2021[39]. Investments and Projects - The company signed an investment contract for a lithium iron phosphate energy storage cell project with a total investment of approximately RMB 2 billion, aiming for a production capacity of 5GWh[19]. - A joint venture was established with Liangdao (Xiamen) New Energy Technology Co., with a registered capital of RMB 100 million, focusing on a lithium battery energy storage system with an annual production capacity of 6GWh[19]. Research and Development - Research and development expenses for the first three quarters of 2022 were CNY 370,065,428.53, an increase of 15% compared to CNY 321,936,191.80 in 2021[31]. - Research and development expenses increased to CNY 217,485,229.48, up 21.7% from CNY 178,674,197.29 in the same period of 2021[49]. Other Financial Metrics - The company reported a significant increase of 506.24% in long-term payables, attributed to financing lease liabilities[12]. - The company experienced a 44.70% increase in long-term receivables due to increased amounts receivable from Xi'an Longjing[12]. - The company reported a decrease of 80.24% in minority shareholders' profit, indicating a reduction in earnings from non-wholly owned subsidiaries[12]. - The company's cash and cash equivalents were RMB 2.17 billion, down from RMB 2.38 billion at the end of 2021[20]. - The company's non-current assets totaled RMB 7.52 billion, up from RMB 6.95 billion at the end of 2021, reflecting a growth of approximately 8.1%[24]. - The company's cash flow management strategies are being enhanced to improve liquidity and operational efficiency[52].

Financial Performance - The company's operating revenue for Q3 2022 was ¥2,588,937,043.88, a decrease of 22.97% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2022 was ¥254,328,085.68, down 12.03% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥229,843,615.36, a decrease of 7.92% compared to the previous year[5]. - The basic earnings per share for Q3 2022 was ¥0.23, reflecting a decline of 13.74% year-on-year[7]. - Total operating revenue for the first three quarters of 2022 was CNY 7,477,732,033.29, a decrease of 9.2% compared to CNY 8,236,735,615.44 in the same period of 2021[32]. - Total revenue for the first three quarters of 2022 was approximately CNY 4.71 billion, a decrease of 6.0% compared to CNY 5.01 billion in the same period of 2021[49]. - Net profit for the third quarter of 2022 was approximately ¥637.54 million, a decrease of 9% compared to ¥700.48 million in the same period of 2021[34]. - The company recorded a total profit of approximately ¥737.21 million for the third quarter, down from ¥814.60 million in the same period of 2021, reflecting a decline of about 9%[34]. - Net profit for the third quarter was CNY 701.43 million, a decline of 31.3% compared to CNY 1.02 billion in the same quarter of 2021[51]. Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥26,976,603,019.13, showing a slight increase of 0.25% from the end of the previous year[9]. - The company's total assets reached CNY 26,976,603,019.13, a slight increase from CNY 26,909,559,947.41, reflecting a growth of 0.25%[30]. - Total liabilities decreased to CNY 19,618,679,431.70 from CNY 19,885,193,999.32, a reduction of 1.3%[30]. - The company reported a decrease in accounts payable to CNY 4,295,664,221.64 from CNY 4,542,855,374.08, a decline of 5.4%[28]. - Total liabilities decreased to CNY 16.13 billion, a reduction of 10.0% from CNY 17.90 billion in the previous year[49]. - The total equity increased to CNY 6.46 billion, up 7.1% from CNY 6.03 billion in the previous year[49]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥257,220,615.31, down 26.21% year-on-year[5]. - Cash flow from operating activities generated a net amount of approximately ¥257.22 million, a decrease of 26% from ¥348.61 million in the previous year[40]. - The company reported a cash outflow of CNY 3,367,540,056.51 related to other operating activities, significantly higher than CNY 1,183,953,359.15 in the previous year[56]. - The net cash flow from operating activities was CNY 35,991,120.66, a significant improvement compared to a net outflow of CNY -434,553,444.43 in the first three quarters of 2021[56]. - Cash inflow from investment activities reached CNY 3,525,845,209.18, compared to CNY 2,700,156,465.91 in the previous year, marking an increase of approximately 30.6%[56]. - The net cash flow from investment activities was CNY 424,721,334.18, a recovery from a net outflow of CNY -1,495,739,384.08 in the same period of 2021[56]. - Cash inflow from financing activities was CNY 1,415,900,000.00, down from CNY 2,303,524,600.00 in the previous year, reflecting a decrease of approximately 38.5%[56]. - The net cash flow from financing activities showed a deficit of CNY -652,187,213.28, contrasting with a positive net flow of CNY 1,093,435,392.38 in the first three quarters of 2021[56]. Investments and Projects - The company signed an investment contract with the government of Shanghang County, Longyan City, to build a 5GWh lithium iron phosphate energy storage cell project with a total investment of approximately 2 billion RMB[18]. - The company established a joint venture with Liangdao (Xiamen) New Energy Technology Co., Ltd. to create Fujian Longjing Liangdao Energy Storage Technology Co., Ltd., with a registered capital of 100 million RMB, where Liangdao holds 51% and the company's subsidiary holds 49%[19]. - The company plans to invest in a 6GWh lithium battery energy storage system, with the first phase targeting an annual production capacity of 1GWh[19]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 1,069,096,836, with the top ten shareholders holding significant stakes[13].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately CNY 4.89 billion, a slight increase of 0.27% compared to the same period last year[27]. - Net profit attributable to shareholders of the listed company decreased by 5.51% to approximately CNY 381.75 million[27]. - The net cash flow from operating activities dropped significantly by 77.59% to approximately CNY 31.59 million[27]. - The company's total assets as of June 30, 2022, were approximately CNY 26.89 billion, a decrease of 0.08% from the end of the previous year[27]. - The net asset attributable to shareholders of the listed company increased by 5.55% to approximately CNY 7.27 billion[27]. - The basic earnings per share for the first half of 2022 was CNY 0.36, down 5.26% from CNY 0.38 in the same period last year[28]. - The company's debt-to-asset ratio was 72.32%, a decrease of 1.58 percentage points compared to the end of the previous year[28]. - The total liabilities amounted to CNY 194.44 billion, with contract liabilities accounting for 40.98% of the total[28]. - The company plans to distribute a cash dividend of CNY 2.5 per 10 shares, with no capital reserve transfer to increase share capital[7]. Environmental Initiatives - Longking Environmental is a leading enterprise in China's environmental protection industry, focusing on air pollution control and aiming to transform into a technology-driven low-carbon environmental service operator[33]. - The company has developed a comprehensive range of products and services in air pollution control, including electrostatic precipitators, flue gas desulfurization systems, and VOCs treatment technologies[34]. - Longking has established multiple hazardous waste disposal centers capable of handling thousands of types of hazardous waste, covering 35 major categories and 253 subcategories[38]. - The company has received numerous accolades, including being recognized as a national innovative enterprise and a national technology innovation demonstration enterprise[33]. - In the first half of 2022, nearly 1.03 billion kilowatts of coal-fired power units in China achieved ultra-low emissions, representing 93% of the total coal power installed capacity, indicating significant market potential for environmental services[41]. - Longking's operational model combines equipment manufacturing, engineering services, and asset operation, ensuring stable revenue and cash flow growth[40]. - The company is actively expanding into the renewable energy sector, aiming to create a dual-driven industrial layout of environmental protection and new energy[51]. - The company completed three key technology projects related to environmental dust removal systems and carbon capture technology, enhancing its innovation capabilities[57]. - The company’s carbon capture system achieved over 95% CO₂ capture efficiency under specific conditions, demonstrating advanced domestic standards[57]. Research and Development - The company has a strong focus on technological innovation, with many of its products filling domestic gaps and achieving international leading standards[44]. - Longking has established a comprehensive R&D and production base across multiple cities in China, enhancing its manufacturing capabilities and reducing costs[48]. - The company is actively pursuing market expansion and collaboration with international research teams to enhance its technological edge[33]. - Research and development expenses increased by 30% to support new technology initiatives[133]. Employee Engagement - Longking is implementing a ten-year employee stock ownership plan to align employee interests with company growth, fostering long-term motivation[47]. - The employee stock ownership plan includes 502 participants in the sixth phase, 532 in the seventh phase, 528 in the eighth phase, and 530 in the ninth phase[83]. - The total funds for the sixth phase of the employee stock ownership plan amount to 80,121,723.70 yuan, while the seventh phase totals 85,102,969.84 yuan, the eighth phase totals 70,278,863.13 yuan, and the ninth phase totals 86,034,855.54 yuan[83]. Corporate Governance - The company underwent a change in control on May 30, 2022, leading to adjustments in the board of directors and senior management[77]. - Lin Hongfu was elected as the new chairman of the board, and He Mei was elected as the co-chairman[78]. - The company’s ninth board of directors includes 10 members, with various roles including independent directors and financial directors[78]. - The company’s second extraordinary general meeting of 2022 approved the replacement of directors and supervisors[76]. Market Expansion - The company signed engineering contracts totaling CNY 5.49 billion during the reporting period, with a backlog of contracts amounting to CNY 21.48 billion, providing a solid foundation for sustained profitability and business growth[52]. - The environmental equipment manufacturing and engineering segment generated revenue of CNY 4.35 billion, a decrease of 0.98%, while the operating projects saw revenue growth of 38.3% to CNY 413 million[52]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of the year[132]. Financial Stability - The company’s debt-to-asset ratio was 72.32%, a decrease of 1.58 percentage points from the end of the previous year, indicating improved financial stability[52]. - The company reported a significant decrease of 81.39% in receivables, down to approximately ¥20.27 million, due to accounting methods[62]. - The company faced increased competition in the environmental protection industry, with challenges from economic downturns and price competition[69]. Compliance and Monitoring - The company has established a comprehensive monitoring plan for various locations, including dormitory areas and waste treatment facilities, to ensure compliance with environmental regulations[150]. - The company adheres to strict limits for various pollutants, including 0.005 mg/L for antimony and 0.001 mg/L for mercury in the JK4 monitoring well[152]. - The monitoring methods include advanced techniques such as inductively coupled plasma mass spectrometry for detecting multiple elements in water quality[152]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[155]. Strategic Goals - The new strategic goal focuses on strengthening existing environmental business while accelerating entry into the new energy sector, leveraging the advantages of its major shareholder, Zijin Mining[56]. - The company has initiated a "carbon reduction research center" to focus on "pollution reduction and carbon reduction" strategies and technology[159]. - The company committed to ensuring independence in personnel, assets, finance, and operations during the control period by Zijin Mining and Minxi Xinghang[162].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,943,818,825.70, representing a year-on-year increase of 2.14%[6] - The net profit attributable to shareholders was CNY 177,798,317.01, reflecting a significant increase of 26.01% compared to the previous year[6] - The basic earnings per share (EPS) was CNY 0.17, which is a 30.77% increase year-on-year[6] - The total operating profit for the current period is 211,822,794.25, an increase from 177,049,023.00 in the previous period, representing a growth of approximately 19.8%[33] - The net profit attributable to shareholders of the parent company is 177,798,317.01, compared to 141,102,236.63 in the previous period, reflecting an increase of about 26.0%[33] - The total comprehensive income attributable to the parent company is 178,121,894.58, compared to 143,129,511.63 in the previous period, showing an increase of approximately 24.4%[35] - The total profit for the current period is 211,224,695.23, an increase from 176,796,972.64 in the previous period, representing a growth of approximately 19.4%[33] - The company's retained earnings rose to ¥4,678,436,890.91 from ¥4,500,638,573.90, an increase of about 3.95%[28] - The total equity attributable to shareholders increased to ¥7,068,464,957.07 from ¥6,887,767,299.21, representing a growth of approximately 2.63%[28] Assets and Liabilities - The total assets at the end of Q1 2022 amounted to CNY 27,192,841,264.55, showing a 1.05% increase from the end of the previous year[9] - The company's cash and cash equivalents as of March 31, 2022, amount to ¥2,233,590,218.63, a decrease from ¥2,379,543,928.72 at the end of 2021[19] - The total current assets amount to ¥19,666,069,623.45, compared to ¥19,957,779,675.98 at the end of 2021[23] - Non-current assets total ¥7,526,771,641.10, an increase from ¥6,951,780,271.43 in the previous period[23] - The company's total liabilities amounted to ¥19,955,085,168.50, slightly up from ¥19,885,193,999.32, showing a growth of around 0.35%[26] - Non-current liabilities increased to ¥4,582,494,729.65 from ¥4,269,528,262.78, reflecting an increase of approximately 7.31%[26] - The total liabilities of the company were ¥17,991,429,306.45, slightly increasing from ¥17,898,642,438.07, which is an increase of approximately 0.5%[43] Cash Flow - The net cash flow from operating activities was negative at CNY -340,287,097.61, indicating a significant cash outflow[6] - Cash inflows from operating activities amount to 1,461,838,924.17, down from 2,561,002,854.67 in the previous period, a decrease of about 42.9%[37] - Cash outflows from operating activities total 1,802,126,021.78, compared to 2,806,390,644.20 in the previous period, a decrease of approximately 35.7%[37] - The net cash flow from operating activities is -340,287,097.61, worsening from -245,387,789.53 in the previous period[37] - The net cash flow from investment activities was -¥141,397,132.96, an improvement from -¥293,372,953.97 year-over-year[39] - The net cash flow from financing activities was ¥203,659,358.56, a significant improvement from -¥14,606,371.62 in the previous year[39] Shareholder Information - Total number of common shareholders at the end of the reporting period is 77,170[15] - The largest shareholder, Longjing Industrial Investment Group Co., Ltd., holds 18.09% of shares, totaling 176,310,926 shares[15] Expenses - Total operating costs rose to ¥1,763,924,624.03 from ¥1,724,342,010.06, indicating an increase of approximately 2.29%[30] - Research and development expenses increased to ¥106,457,899.03 from ¥90,174,694.56, marking a significant rise of about 17.98%[30] - The company's financial expenses increased to ¥39,175,827.96 from ¥26,540,093.95, which is an increase of approximately 47.6%[48] - The tax expense for the current period is 33,898,734.46, slightly up from 32,898,176.57 in the previous period, indicating an increase of about 3.0%[33] Inventory and Receivables - The company’s inventory is reported at ¥8,447,035,859.02, down from ¥8,499,341,916.69[23] - Accounts receivable stands at ¥2,797,241,512.32, slightly down from ¥2,814,544,530.01 in the previous period[23] - The company's inventory increased to ¥5,132,617,315.83 from ¥4,563,043,966.58, representing a growth of about 12.5%[41]

Financial Performance - The company's operating revenue for 2021 was CNY 11,296,737,387.04, representing a 10.96% increase compared to CNY 10,180,764,557.17 in 2020[19] - The net profit attributable to shareholders for 2021 was CNY 860,348,555.40, which is a 22.42% increase from CNY 702,788,631.29 in 2020[19] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 696,370,706.09, reflecting a 43.53% increase from CNY 485,158,731.32 in 2020[19] - Basic earnings per share for 2021 was CNY 0.80, an increase of 21.21% compared to CNY 0.66 in 2020[20] - Diluted earnings per share for 2021 was CNY 0.73, reflecting a 19.67% increase from CNY 0.61 in 2020[20] - The weighted average return on equity for 2021 was 13.33%, up by 1.00 percentage points from 12.33% in 2020[23] - The company reported a total revenue of 99,600.62 million RMB, with a net profit of 13,197.05 million RMB, reflecting strong financial performance[116] Cash Flow and Assets - The net cash flow from operating activities decreased by 42.03% to CNY 1,213,764,912.23 from CNY 2,093,804,841.49 in 2020[19] - The total assets at the end of 2021 were CNY 26,909,559,947.41, a 7.08% increase from CNY 25,130,454,747.55 at the end of 2020[19] - The net assets attributable to shareholders increased by 11.15% to CNY 6,887,767,299.21 from CNY 6,196,900,542.16 at the end of 2020[19] - The company’s total assets included other receivables of ¥2,142,617,103.70, which accounted for 7.96% of total assets, reflecting a significant increase of 723.31% compared to the previous period[101] Strategic Initiatives and Market Expansion - The company is focused on market expansion and has plans for mergers and acquisitions to enhance its competitive position[11] - The company aims to become a globally competitive ecological and environmental technology enterprise[30] - The company is actively involved in the development of new technologies, including electric dust removal and flue gas desulfurization technologies[11] - The company has signed strategic cooperation agreements with Zijin Mining Group for clean energy projects, focusing on the development of ammonia-hydrogen energy technology and renewable energy projects such as photovoltaics and wind power[53][56] - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[162] Research and Development - The company has authorized 1,477 patents as of the end of 2021, including 266 invention patents[37] - Research and development expenses totaled ¥494,297,173.49, accounting for 4.38% of total revenue, with no capitalized R&D expenditures[97] - The company has invested 100 million RMB in R&D for new technologies aimed at improving energy efficiency[162] - The company has established 11 large R&D and manufacturing bases across China, covering over 1 million square meters, and has been awarded 5 National Science and Technology Progress Awards and 68 provincial and ministerial-level science and technology awards[62] Environmental Commitment - The company has actively responded to the "dual carbon" goals and has been advancing technological innovation[30] - The company aims to reduce carbon emissions by 18% per unit of GDP by 2025, in line with national environmental goals[48] - The environmental protection industry is expected to grow at a compound annual growth rate of approximately 9% during the 14th Five-Year Plan, with revenues projected to exceed CNY 3 trillion by 2025[112] - The company emphasizes high-quality development and risk control as key strategies for sustainable growth in 2022[128] Corporate Governance and Management - The company has established a comprehensive internal control system to ensure compliance and protect shareholder interests[144] - The company has a diverse board with members holding various positions in other organizations, enhancing its governance[152] - The company is committed to maintaining independence from its controlling shareholder in terms of assets, personnel, and financial operations[145] - The total pre-tax remuneration for the chairman, He Mei, was 96.18 million CNY for the reporting period[151] Employee and Talent Development - The company has implemented a ten-year employee stock ownership plan to align individual and company interests[80] - A "dual-hundred" talent recruitment plan is in place to attract and develop outstanding graduates and young leaders for key positions[135] - The company has established a training program focusing on leadership and skill enhancement for middle management and young employees, aiming to foster talent development[190] Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue increase of 25% based on current market trends[162] - The management has set a performance guidance of 12% revenue growth for the next fiscal year[171] - The company plans to enhance its core competitiveness by expanding into non-electric industry emissions control technologies through R&D and acquisitions[121]

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,943,818,825.70, representing a year-on-year increase of 2.14%[5] - Net profit attributable to shareholders was ¥177,798,317.01, reflecting a significant increase of 26.01% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥156,849,468.16, up by 8.66% year-on-year[5] - Basic earnings per share for the quarter were ¥0.17, an increase of 30.77% year-on-year[5] - The diluted earnings per share were ¥0.15, reflecting a 25.00% increase compared to the same period last year[5] - The total comprehensive income for the first quarter of 2022 was CNY 177,649,538.34, compared to CNY 145,926,071.07 in the same period of 2021, representing an increase of approximately 21.8%[32] - Basic earnings per share for the first quarter of 2022 were CNY 0.17, up from CNY 0.13 in the first quarter of 2021, reflecting a growth of 30.8%[32] - Net profit for Q1 2022 reached CNY 177,325,960.77, up from CNY 143,898,796.07 in Q1 2021, indicating a growth of approximately 23.2%[31] Assets and Liabilities - The total assets at the end of Q1 2022 reached ¥27,192,841,264.55, marking a 1.05% increase from the end of the previous year[8] - The company's total assets amounted to CNY 27,192,841,264.55, compared to CNY 26,909,559,947.41 in the previous period, showing an increase of about 1.0%[27] - Total liabilities were CNY 19,955,085,168.50, slightly up from CNY 19,885,193,999.32, marking an increase of approximately 0.4%[27] - The company's equity attributable to shareholders increased to CNY 7,068,464,957.07 from CNY 6,887,767,299.21, reflecting a growth of about 2.6%[27] - The company reported a 91.46% increase in current liabilities due to an increase in short-term borrowings[10] - The company's total liabilities as of March 31, 2022, increased compared to the previous year, indicating a potential increase in leverage[41] Cash Flow - The net cash flow from operating activities was negative at -¥340,287,097.61, indicating a significant cash outflow[5] - Net cash flow from operating activities for the first quarter of 2022 was -CNY 340,287,097.61, compared to -CNY 245,387,789.53 in the first quarter of 2021, indicating a decline in cash flow[37] - The ending cash and cash equivalents balance as of March 31, 2022, was CNY 1,591,777,507.36, down from CNY 1,909,022,221.40 at the end of 2021[39] - The company reported a decrease in cash received from sales of goods and services, totaling CNY 1,382,648,549.14 in the first quarter of 2022, compared to CNY 2,425,456,774.52 in the same period of 2021, reflecting a decline of approximately 43%[37] - Cash inflow from investment activities in the first quarter of 2022 was CNY 2,126,141,910.54, significantly higher than CNY 1,243,151,525.52 in the same period of 2021, marking an increase of approximately 71.1%[39] - Cash outflow from investment activities for the first quarter of 2022 totaled CNY 2,267,539,043.50, compared to CNY 1,536,524,479.49 in the first quarter of 2021, which is an increase of about 47.5%[39] - The net cash flow from financing activities for the first quarter of 2022 was CNY 203,659,358.56, a turnaround from -CNY 14,606,371.62 in the first quarter of 2021[39] Shareholder Information - Total number of common shareholders at the end of the reporting period was 77,170[14] - The largest shareholder, Longjing Industrial Investment Group Co., Ltd., holds 18.09% of the shares[14] Research and Development - Research and development expenses for Q1 2022 were CNY 106,457,899.03, compared to CNY 90,174,694.56 in Q1 2021, representing an increase of approximately 17.9%[31] - Research and development expenses increased to ¥64,837,371.90 in Q1 2022, compared to ¥47,475,149.80 in Q1 2021, marking a rise of 36.6%[49] Inventory and Receivables - Accounts receivable increased to approximately ¥2.80 billion from ¥2.81 billion year-over-year[22] - Inventory decreased slightly to approximately ¥8.45 billion from ¥8.50 billion year-over-year[22] - The company’s inventory as of March 31, 2022, was CNY 5,132,617,315.83, up from CNY 4,563,043,966.58 at the end of 2021, indicating a growth of approximately 12.5%[41]

Financial Performance - The company's operating revenue for 2021 was CNY 11,296,737,387.04, representing a 10.96% increase compared to CNY 10,180,764,557.17 in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 860,348,555.40, which is a 22.42% increase from CNY 702,788,631.29 in 2020[22]. - The net profit after deducting non-recurring gains and losses was CNY 696,370,706.09, showing a significant increase of 43.53% compared to CNY 485,158,731.32 in 2020[22]. - Basic earnings per share increased by 21.21% to CNY 0.80 in 2021 compared to CNY 0.66 in 2020[25]. - Diluted earnings per share rose by 19.67% to CNY 0.73 in 2021 from CNY 0.61 in 2020[25]. - The company achieved operating revenue of 11.30 billion RMB, a year-on-year increase of 10.96%[92]. - Net profit attributable to the parent company reached 860 million RMB, with net cash flow from operating activities at 1.21 billion RMB, reflecting stable operations[92][93]. - Total assets increased to 26.95 billion RMB, and net assets reached 6.89 billion RMB, marking a new high for the company[92]. Cash Flow and Assets - The net cash flow from operating activities decreased by 42.03% to CNY 1,213,764,912.23 from CNY 2,093,804,841.49 in 2020[22]. - The total assets at the end of 2021 were CNY 26,909,559,947.41, an increase of 7.08% from CNY 25,130,454,747.55 at the end of 2020[22]. - The net assets attributable to shareholders increased by 11.15% to CNY 6,887,767,299.21 from CNY 6,196,900,542.16 at the end of 2020[22]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 2.5 per 10 shares for the 2021 fiscal year[6]. - The board has approved a dividend payout of 1 billion RMB, representing a 10% increase from the previous year[168]. Risk Management - There are no significant risks reported that could affect the company's operations[10]. - The company has detailed its future development risks in the board report, indicating a proactive approach to risk management[7]. Technological Advancements and R&D - The company has actively pursued new qualifications and certifications, enhancing its brand value and overall strength[34]. - The company completed the development and application of several key technologies, including low-temperature industrial flue gas denitrification catalysts and AI-based high-pressure control systems[45]. - The total R&D expenditure was ¥494,297,173.49, representing 4.38% of operating revenue, with no capitalized R&D expenses[108]. - The company is investing 500 million RMB in research and development for innovative solutions in environmental protection[168]. Market Position and Expansion - The company is the largest manufacturer of air pollution control equipment globally, maintaining the industry's leading position for over a decade with advanced technology and high-quality solutions[56]. - The company is actively expanding its business in the new energy sector, focusing on ammonia-hydrogen energy technology and related projects[62]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by 2025[168]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 500 million RMB allocated for potential deals[171]. Environmental Commitment - The company aims to become a globally competitive ecological and environmental technology enterprise, aligning with national carbon neutrality goals[33]. - The company is committed to achieving dual carbon goals, focusing on pollution reduction and ecological protection as part of its strategic initiatives[119]. - The company is focusing on strategic acquisitions to enhance its market position[163]. Governance and Management - The company maintains independence from its controlling shareholder, ensuring no interference in operational activities and protecting minority shareholders' interests[152]. - The board of directors operates in accordance with established rules, with various committees providing professional insights for decision-making[149]. - The company has established a robust internal control system, revising its internal control manual to enhance governance[152]. Employee and Organizational Structure - The total number of employees in the parent company is 2,760, while the main subsidiaries employ 4,957, resulting in a total of 7,717 employees[196]. - The professional composition includes 3,103 production personnel, 660 sales personnel, 2,592 technical personnel, 203 financial personnel, and 1,159 administrative personnel[196]. - The company has a total of 12,200 shares held by supervisor Liao Wei at the end of the reporting period[161]. Future Outlook - The company provided a future outlook with a revenue guidance of 12 billion RMB for the next fiscal year, indicating a growth target of 20%[168]. - The company plans to implement a new marketing strategy that is expected to increase brand awareness by 40%[171]. - The company has set ambitious performance targets for the upcoming fiscal year[163].

Financial Performance - The company's operating revenue for Q3 2021 was ¥3,361,147,046.82, a decrease of 0.10% compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2021 was ¥289,109,121.81, representing a decline of 21.86% year-on-year[6]. - The net profit after deducting non-recurring gains and losses was ¥249,625,036.68, down 22.60% from the previous year[9]. - The basic earnings per share for Q3 2021 was ¥0.27, a decrease of 22.86% compared to the same period last year[9]. - The company's total revenue for the first three quarters of 2021 reached 8.24 billion RMB, compared to 6.97 billion RMB in the same period of 2020, indicating a growth of approximately 18.25%[26]. - Net profit reached ¥700,477,373.98, a significant increase from ¥579,750,289.91, marking a growth of approximately 20.8%[30]. - The company reported a total comprehensive income of ¥699,592,760.59, compared to ¥579,676,109.54, reflecting an increase of about 20.6%[32]. - Basic earnings per share increased to ¥0.65 from ¥0.54, representing a growth of approximately 20.4%[32]. Assets and Liabilities - The total assets at the end of the reporting period were ¥26,836,756,527.16, an increase of 6.79% from the end of the previous year[9]. - As of September 30, 2021, the company's total assets amounted to 26.84 billion RMB, an increase from 25.13 billion RMB at the end of 2020[24]. - The company's total liabilities increased to approximately 19.97 billion RMB from 18.79 billion RMB at the end of 2020[26]. - Total liabilities stood at approximately $18.79 billion, indicating no change from the previous period[45]. - The company has a long-term debt of approximately $983.11 million, unchanged from the previous period[45]. Shareholder Equity - The equity attributable to shareholders at the end of the reporting period was ¥6,716,857,715.54, up 8.39% year-on-year[9]. - The company reported a total equity of approximately 6.86 billion RMB as of September 30, 2021, compared to 6.34 billion RMB at the end of 2020[26]. - Total equity attributable to shareholders reached approximately ¥6.20 billion[46]. - Total equity, including minority interests, was approximately ¥6.34 billion[46]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥348,607,160.13, a decrease of 35.55% compared to the same period last year[9]. - Cash flow from operating activities generated ¥348,607,160.13, down from ¥540,861,208.43, a decrease of approximately 35.5%[36]. - Total cash and cash equivalents at the end of the period decreased to $1.26 billion from $3.11 billion, reflecting a net decrease of $1.20 billion[38]. - Cash inflow from financing activities was $682.19 million, down from $1.41 billion in the previous period, showing a decline in financing received[38]. - The cash outflow for financing activities was $1.90 billion, compared to $2.76 billion in the previous period, showing a reduction in cash used for financing[38]. Operational Highlights - The company secured new engineering contracts worth 8.25 billion RMB in the first three quarters of 2021, representing a year-on-year increase of 10.48%, with a total backlog of 20.52 billion RMB[18]. - The company's accounts receivable increased to approximately 2.99 billion RMB from 2.67 billion RMB at the end of 2020[21]. - The company's inventory decreased to approximately 8.65 billion RMB from 9.23 billion RMB at the end of 2020[21]. - Long-term borrowings rose to approximately 2.01 billion RMB from 983.11 million RMB at the end of 2020[26]. - Total operating costs rose to ¥7,461,230,253.94, compared to ¥6,323,139,653.93, reflecting an increase of about 18.0%[30]. - Research and development expenses amounted to ¥321,936,191.80, up from ¥291,745,526.72, indicating an increase of about 10.3%[30]. - The company recorded a net investment income of ¥30,347,098.17, compared to a loss of ¥8,715,959.17 in the previous period[30].

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥4,875,588,568.62, representing a 35.39% increase compared to ¥3,601,194,988.60 in the same period last year[22]. - Net profit attributable to shareholders for the first half of 2021 was ¥404,003,806.25, a significant increase of 99.22% from ¥202,789,984.52 in the previous year[22]. - The net cash flow from operating activities was ¥140,983,476.41, showing a remarkable increase of 465.67% compared to ¥24,923,392.40 in the same period last year[22]. - The basic earnings per share for the first half of 2021 was ¥0.38, doubling from ¥0.19 in the same period last year, indicating a 100% increase[23]. - The diluted earnings per share increased by 78.95% to ¥0.34 from ¥0.19 in the previous year[23]. - The company's total assets as of the end of the reporting period were ¥25,753,114,860.09, a 2.48% increase from ¥25,130,454,747.55 at the end of the previous year[22]. - The net assets attributable to shareholders at the end of the reporting period were ¥6,410,366,411.81, reflecting a 3.44% increase from ¥6,196,900,542.16 at the end of the previous year[22]. - The weighted average return on equity for the first half of 2021 was 6.34%, an increase of 2.82 percentage points from 3.52% in the same period last year[23]. Research and Development - The company is recognized as a national innovative enterprise and a national technology innovation demonstration enterprise, reflecting its strong R&D capabilities[28]. - The company has received 4 national science and technology progress awards and holds 1,373 patents, including 263 invention patents, showcasing its strong innovation capabilities[47]. - The company completed four technology development projects, including vacuum heat pipe low-temperature economizer technology and AI-based smart high-pressure control systems[80]. - As of June, the company held 1,373 authorized patents, including 263 invention patents, with 145 new patents granted in the first half of the year[80]. - The company has established a technical research center to enhance detection of arsenic and nickel in materials[145]. Environmental Initiatives - The company has established an independent energy subsidiary for waste incineration power generation, contributing stable operating profits[34]. - The company is actively responding to national carbon neutrality strategies with seven major pollution reduction and carbon reduction initiatives[34]. - Longjing Environmental announced seven major actions to support China's carbon peak and carbon neutrality goals, focusing on carbon capture and utilization (CCUS) technologies[60]. - The company aims to achieve a carbon capture efficiency of less than 1 kg/t CO2 and a comprehensive cost of less than 200/t CO2 through its CCUS demonstration project[60]. - Longjing's initiatives in the steel industry are expected to reduce carbon emissions by approximately 68,000 tons per sintering machine annually, contributing to a total reduction of 2 million tons of CO2 nationwide[60]. - The company is focusing on the resource utilization of organic waste, providing solutions that can reduce carbon emissions by approximately 22,300 tons annually[63]. - Longjing is establishing a carbon reduction research center to enhance its capabilities in air pollutant and greenhouse gas reduction[63]. - The company is actively promoting green and environmentally friendly production practices to minimize environmental impact[148]. Market Position and Strategy - The company holds a market share of approximately 30% in the environmental control equipment sector, with over 100 authorized patents[38]. - The company is actively expanding its market share in the solid waste and water service sectors, leveraging acquisitions and order acquisitions to enhance its competitive position[59]. - The new solid waste law implemented on September 1, 2020, is expected to benefit the entire solid waste industry chain, providing growth opportunities for the company[59]. - The company has built 11 large R&D and manufacturing bases across China, covering an area of over 1 million square meters, to support its production capabilities[47]. - The company aims to complete the digital management system transformation by 2022, enhancing operational efficiency through the ERP project[54]. - The company has a strong talent pool, including 18 international industry experts and 20 senior engineers, to drive its technological advancements[51]. Compliance and Governance - The company has not disclosed any plans for profit distribution or capital reserve transfer during this reporting period[6]. - There are no non-operating fund occupations by controlling shareholders or related parties reported[7]. - The company has not faced severe penalties that would harm investor rights or public interests[147]. - Longjing Environmental has committed to maintaining transparency and compliance in related party transactions, ensuring no harm to the interests of the company and its shareholders[156]. - The company has not engaged in any non-operating fund occupation by major shareholders or related parties during the reporting period[159]. Financial Management - The company has engaged in a financing lease transaction with a total amount of RMB 270.33 million (27,033.01 ten thousand) over a period of 3 years[163]. - The company has provided a guarantee of RMB 11 million (1,100.00 ten thousand) for Kavantah (Shijiazhuang) New Energy Technology Co., Ltd., with a guarantee period from December 4, 2020, to January 23, 2037[169]. - The company plans to raise up to RMB 2.8 billion (280,000.00 ten thousand) through a private placement, with specific projects allocated as follows: RMB 610 million (61,000.00 ten thousand) for the Chen Zhuang Industrial Park solid waste disposal center project[174]. - The total investment for the Shandong Zhongbin Environmental Protection solid waste comprehensive disposal center project is RMB 977.43 million (97,743.09 ten thousand), with RMB 700 million (70,000.00 ten thousand) planned to be funded through the private placement[174]. - The company has a total guarantee amount of RMB 1.287 billion (128,793.24 ten thousand), which accounts for 20.78% of the company's net assets[171]. Legal and Regulatory Matters - There were no significant lawsuits or arbitration matters reported during the reporting period, indicating a stable legal standing[162]. - The company has not faced any violations or penalties related to its operations or those of its major shareholders during the reporting period[162]. - The company has obtained environmental impact assessment approval for multiple phases of its incineration projects, with the latest approval for phase four issued in 2019[104]. - The company is classified as a key pollutant discharge unit, with a focus on managing major pollutants[107]. - The company has implemented corrective measures including timely payment of fines and investigation into high levels of arsenic and nickel in materials[145].