证券代码：600719 证券简称：大连热电 公告编号：临 2023-020 大连热电股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会的 公告 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： 会议召开时间：2023 年 06 月 05 日(星期一) 下午 14:00-15:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 05 月 29 日(星期一) 至 06 月 02 日(星期 五)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通 过公司邮箱(dlrd_zqb@sina.com）进行提问。公司将在说明会上对投 资者普遍关注的问题进行回答。 大连热电股份有限公司（以下简称"公司"）已于 2023 年 3 月 18 日发布公司 2022 年度报告，2023 年 4 月 21 日发布公司 2023 年 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 375,241,002.23, representing a decrease of 3.96% compared to the same period last year[6]. - The net profit attributable to shareholders was a loss of CNY 50,317,333.05, a decline of 230.39% year-on-year[6]. - The basic earnings per share for the period was -CNY 0.124, reflecting a decrease of 230.53% compared to the previous year[7]. - Total operating revenue for Q1 2023 was CNY 375,241,002.23, a decrease of 3.5% compared to CNY 390,706,744.44 in Q1 2022[16]. - Net profit for Q1 2023 was a loss of CNY 50,317,333.05, compared to a profit of CNY 38,590,001.91 in Q1 2022[17]. - Basic and diluted earnings per share for Q1 2023 were both CNY -0.124, down from CNY 0.095 in Q1 2022[18]. Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 2,525,591,292.70, down 5.52% from the end of the previous year[7]. - Total assets as of Q1 2023 amounted to CNY 2,525,591,292.70, a decrease from CNY 2,673,224,014.43 at the end of the previous period[16]. - Total liabilities for Q1 2023 were CNY 2,132,781,943.45, compared to CNY 2,232,068,015.91 in the previous year[15]. - Current assets totaled CNY 478,272,350.14, down from CNY 700,761,737.12 in the previous period[15]. - Non-current assets increased to CNY 2,047,318,942.56 from CNY 1,972,462,277.31 year-over-year[15]. - The equity attributable to shareholders decreased by 10.96% to CNY 392,809,349.25 compared to the end of the previous year[7]. Cash Flow - The net cash flow from operating activities was -CNY 31,163,285.90, an improvement of 68.36% compared to the same period last year[6]. - The company’s cash flow statement for Q1 2023 indicates ongoing liquidity challenges, with net cash flow from operating activities remaining a concern[18]. - In Q1 2023, the cash inflow from operating activities was $135,179,805.43, compared to $109,294,864.82 in Q1 2022, representing an increase of approximately 23.7%[19]. - The net cash outflow from operating activities was -$31,163,285.90, an improvement from -$98,496,984.52 in the same period last year[19]. - Cash outflow for purchasing goods and services decreased to $122,592,818.67 from $166,070,776.55, a reduction of about 26.2%[19]. - The company experienced a net decrease in cash and cash equivalents of -$49,324,529.76 in Q1 2023, compared to -$57,406,596.07 in Q1 2022, indicating an improvement in cash management[20]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 14,348[10]. - The largest shareholder, Dalian Clean Energy Group Co., Ltd., held 32.9% of the shares, totaling 133,133,784 shares[10]. Costs and Expenses - The company reported a significant increase in main business costs, impacting net profit negatively[8]. - Total operating costs increased to CNY 425,076,394.38, up 20.9% from CNY 351,688,205.23 in the same period last year[16]. - The company reported a significant increase in financial expenses, which rose to CNY 19,557,220.85 from CNY 6,756,409.42 in the previous year[16]. - Cash paid for debt repayment was $263,940,000.00, which increased from $259,750,000.00 in Q1 2022[20]. - The cash outflow for employee compensation was $30,779,200.22, down from $35,290,629.48, showing a reduction of approximately 12.5%[19]. Non-recurring Items - Non-recurring gains and losses amounted to CNY 318,884.92, primarily from government subsidies[8].

Financial Performance - In 2022, the company's operating revenue was approximately CNY 806.96 million, an increase of 22.33% compared to CNY 659.68 million in 2021[20]. - The net profit attributable to shareholders was a loss of CNY 156.55 million, worsening by 9.31% from a loss of CNY 143.22 million in the previous year[20]. - The basic earnings per share for 2022 was -CNY 0.387, a decline of 9.32% from -CNY 0.354 in 2021[21]. - The diluted earnings per share also stood at -CNY 0.387, reflecting the same percentage decline as the basic earnings per share[21]. - The company reported a net profit margin of -33.79% for the year, a decrease of 17.33 percentage points compared to the previous year[22]. - The company reported a net loss of CNY 240,485,880.60 in 2022 compared to a loss of CNY 83,939,033.84 in 2021, indicating a worsening financial position[175]. - The company incurred interest expenses of ¥47,540,784.66 in 2022, an increase from ¥33,231,622.63 in 2021[182]. Cash Flow and Liquidity - The cash flow from operating activities increased significantly to CNY 332.63 million, a 414.72% increase from CNY 64.62 million in 2021[20]. - The company achieved a net cash flow from operating activities of CNY 201.92 million in Q4, following a negative cash flow of CNY 98.50 million in Q1[22]. - The company's cash and cash equivalents decreased by 50.70% to 159.07 million RMB, impacting liquidity[47]. - Cash and cash equivalents dropped significantly from CNY 322,656,413.45 in 2021 to CNY 159,065,383.34 in 2022, a reduction of approximately 50.7%[173]. - The total cash inflow from financing activities was approximately ¥898.14 million, compared to ¥797.80 million in 2021[189]. - The ending balance of cash and cash equivalents decreased to ¥73,056,657.39 from ¥316,614,420.85 in the previous year[192]. Assets and Liabilities - The total assets at the end of 2022 were CNY 2.67 billion, a decrease of 4.88% from CNY 2.81 billion at the end of 2021[20]. - The total assets decreased from CNY 2,810,333,061.28 in 2021 to CNY 2,673,224,014.43 in 2022, a decline of approximately 4.9%[175]. - The company's equity attributable to shareholders decreased from CNY 597,158,063.30 in 2021 to CNY 441,155,998.52 in 2022, a decline of approximately 26.3%[175]. - Total liabilities increased slightly from CNY 2,213,174,997.98 in 2021 to CNY 2,232,068,015.91 in 2022, an increase of about 0.9%[175]. - Short-term borrowings rose from CNY 237,200,000.00 in 2021 to 499,966,406.59 in 2022, an increase of approximately 110.7%[174]. Operational Efficiency and Business Strategy - The company has made significant progress in structural adjustments, including the steady advancement of the Beihai expansion project, which enhances heat source security and economic efficiency[26]. - The company has implemented a production organization system that emphasizes timely data transmission and smooth production-sales coordination, resulting in a 20% reduction in main equipment failure rates[27]. - The company is actively promoting the conversion of steam to hot water and the construction of new heat sources, enhancing the safety and efficiency of the overall pipeline network[31]. - The company plans to enhance its market position by focusing on green transformation and improving production efficiency[63]. - The company aims to enhance resource allocation efficiency as a primary task for heat balance management[64]. Environmental and Social Responsibility - The company has made significant progress in green transformation, with its existing cogeneration system meeting ultra-low emission standards[31]. - The company invested 13.18 million yuan in environmental protection during the reporting period[111]. - The actual emissions for the year included 7.92 tons of particulate matter, 22.37 tons of SO₂, and 51.29 tons of NOx from the Beihai Thermal Power Plant[113]. - The company is committed to social responsibility, providing services such as free cleaning of heating systems for residents[121]. - The company is collaborating with local government on rural development and poverty alleviation initiatives[122]. Governance and Compliance - The company held two shareholder meetings during the reporting period, ensuring compliance with legal requirements and protecting minority shareholders' rights[70]. - The company has implemented a robust investor relations management system to maintain effective communication with investors[73]. - The company faced penalties from the China Securities Regulatory Commission for information disclosure violations, resulting in warnings and fines for five individuals, including the chairman and the financial officer[89]. - The company has established stricter governance measures to enhance internal control and improve information disclosure quality, aiming to protect the rights of minority shareholders[134]. - The company has not reported any significant legal or regulatory discrepancies in its governance practices[74]. Related Party Transactions - The company engaged in significant related party transactions with its controlling shareholder, Dalian Clean Energy Group Co., Ltd., which were deemed to potentially impact the financial statements[163]. - The company reported a total of 27,603,716.21 RMB in related party transactions, with the largest transaction being for engineering services amounting to 15,323,873.49 RMB, accounting for 5.98% of similar transactions[137]. - The company has not disclosed any significant changes in major related party transactions during the reporting period, indicating stability in its operational relationships[139]. Future Outlook - The company anticipates a recovery in the heating market due to policies aimed at stabilizing the real estate sector and increasing activity among commercial users[62]. - The company aims to strengthen its capital base and enhance its comprehensive competitiveness through reform and innovation[63]. - The company's total revenue target for 2023 is CNY 614 million, which is expected to remain stable compared to the previous year[64].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately RMB 413.98 million, a decrease of 2.57% compared to RMB 424.89 million in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2022 was approximately RMB 5.23 million, down 38.57% from RMB 8.52 million in the previous year[18]. - The basic earnings per share for the first half of 2022 were RMB 0.013, a decline of 38.10% from RMB 0.021 in the same period last year[19]. - The total revenue for the reporting period was 41,297 million RMB, a decrease of 871 million RMB compared to the previous year, while the total profit was 517 million RMB, down 629 million RMB year-on-year[25]. - Operating profit for the first half of 2022 was RMB 5,334,476.20, down 53.3% from RMB 11,426,990.74 in the same period of 2021[80]. - The total comprehensive income for the first half of 2022 was RMB 5,234,897.92, compared to RMB 8,521,199.83 in the first half of 2021, reflecting a decrease of 38.5%[81]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, reaching approximately RMB 326.71 million, compared to a negative cash flow of RMB 159.67 million in the same period last year, marking a 304.62% increase[18]. - The company reported a significant increase in cash flow from operating activities, reaching 326,708 million RMB, compared to a negative cash flow of 159,669 million RMB in the previous year, marking a 304.62% improvement[29]. - The company's cash and cash equivalents increased to RMB 469,361,939.73 from RMB 322,656,413.45 at the beginning of the period[71]. - The ending cash and cash equivalents balance increased to ¥465,832,199.73 from ¥381,630,302.56 year-on-year, reflecting a stronger liquidity position[87]. - Cash inflow from sales of goods and services was ¥286,031,161.11, up from ¥153,028,049.81 in the first half of 2021, marking an increase of approximately 87%[86]. Operational Highlights - The company operates in the urban heating sector, which is expected to grow significantly due to the government's focus on clean heating and the elimination of low-efficiency coal-fired heating enterprises[22]. - The company achieved a total electricity sales volume of 13,443 million kWh, a year-on-year decrease of 1,022 million kWh due to reduced heating demand and high coal prices[25]. - The company completed the heating area coverage of 1,783 million square meters, an increase of 5 million square meters year-on-year[25]. - The company has implemented effective safety and environmental management measures, maintaining a zero incidence rate for occupational diseases and environmental pollution events during the reporting period[27]. - The company has enhanced service quality through various initiatives, receiving positive feedback from users and local government[27]. Cost Management - The company reported a 9.26% increase in operating costs, totaling 341,532 million RMB, compared to 312,592 million RMB in the previous year[29]. - The company has seen a 36.87% reduction in management expenses, which decreased to 50,712 million RMB from 80,324 million RMB year-on-year[29]. - Total operating costs decreased to RMB 410,092,145.12 from RMB 415,942,872.97, reflecting a reduction of 1.9% year-over-year[79]. Asset Management - The company's total assets as of the end of the reporting period were approximately RMB 2.74 billion, a decrease of 2.67% from RMB 2.81 billion at the end of the previous year[18]. - Total assets at the end of the reporting period amounted to ¥2,737,000,000, with cash and cash equivalents constituting 17.16% of total assets, an increase of 45.47% compared to the previous year[31]. - Inventory decreased by 54.22% to ¥102,095,960.03, primarily due to the consumption of raw materials[31]. - The construction in progress increased by 59.08% to ¥759,366,162.28, reflecting investments in the Beihai expansion project[31]. Regulatory and Compliance Issues - The company has not proposed any profit distribution or capital reserve transfer plans during the reporting period[4]. - The company reported a non-operating fund occupation by its controlling shareholder, with an initial amount of CNY 193,757,107.11, which remained unchanged during the reporting period[52]. - The company and its controlling shareholder received administrative penalties from the China Securities Regulatory Commission, including a fine of CNY 1 million for the controlling shareholder and CNY 500,000 for the company[53]. - The company has implemented internal training and improved internal control systems to prevent similar incidents in the future[54]. Environmental Compliance - The North Sea Thermal Power Plant's emissions standards for 1-4 boilers are: particulate matter 10 mg/m³, SO₂ 35 mg/m³, NOx 50 mg/m³, with total allowable emissions in 2022 being 156.6 tons for particulate matter, 1,043.8 tons for SO₂, and 521.9 tons for NOx[42]. - In the first half of 2022, actual emissions from the North Sea Thermal Power Plant were: particulate matter 5.06 tons, SO₂ 10.93 tons, and NOx 27.21 tons, indicating compliance with the standards[42]. - The company has implemented measures to reduce carbon emissions, including seasonal shutdowns to decrease coal consumption[48]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders is 14,914[63]. - The largest shareholder, Dalian Thermal Power Group Co., Ltd., holds 133,133,784 shares, accounting for 32.91% of the total shares[65]. - The second-largest shareholder, Shanghai Xinghe Digital Investment Co., Ltd., holds 20,118,461 shares, representing 4.97% of the total shares[65]. Future Outlook and Challenges - The company faces ongoing challenges due to high coal prices, which continue to exert pressure on operational costs[28]. - The heating revenue is uncertain due to regional economic conditions and supply constraints, prompting the company to enhance market analysis and service quality[36]. - The company is increasing investments in clean heating technologies to meet stricter environmental standards, which may raise operational costs[36].

Financial Performance - In 2021, the company's operating revenue was approximately ¥659.68 million, a decrease of 2.16% compared to ¥674.24 million in 2020[20]. - The net profit attributable to shareholders was a loss of approximately ¥143.22 million, a significant decline from a profit of ¥9.66 million in 2020, representing a decrease of 1,582.86%[20]. - The net cash flow from operating activities was approximately ¥64.62 million, down 58.23% from ¥154.71 million in 2020[20]. - The basic earnings per share for 2021 was -¥0.354, a decrease of 1,575.00% compared to ¥0.024 in 2020[21]. - The weighted average return on equity was -21.35%, a decrease of 22.65 percentage points from 1.30% in 2020[21]. - The company reported a total non-operating loss of approximately 33.47 million in 2021, compared to a loss of 393,965 in 2020[28]. - The company achieved an operating revenue of RMB 660 million, a decline of 2.16% year-on-year, while the net profit was -RMB 143 million, a decrease of 1582.86% compared to the previous year[41]. - The company’s net profit decreased significantly, with undistributed profits showing a decline of 234.26% to -83.94 million RMB[56]. - The company reported a total of 2,803,196.88 RMB in profit distribution during the year[196]. Assets and Liabilities - The total assets at the end of 2021 were approximately ¥2.81 billion, an increase of 3.69% from ¥2.71 billion at the end of 2020[20]. - The net assets attributable to shareholders decreased by 19.70% to approximately ¥597.16 million from ¥743.61 million in 2020[20]. - The company's total assets reached RMB 2.81 billion, with a net asset total of RMB 597 million, reflecting a growth of 3.30% and a decrease of 19.70% respectively compared to the beginning of the year[41]. - Total liabilities reached RMB 2,213,174,997.98, up from RMB 1,966,771,605.51 in the previous year, indicating an increase of about 12.5%[168]. - The company's total equity attributable to shareholders decreased to RMB 597,158,063.30 from RMB 743,614,625.00, a decline of about 19.7%[169]. Operational Efficiency - The company reduced main equipment failure rates by 20% year-on-year, improving overall operational health[32]. - The company implemented a production model based on demand, achieving advanced heating consumption levels within the province[31]. - The company achieved a 100% completion rate for service requests and satisfaction rate in heating services, enhancing its brand influence in the region[33]. - The company is focusing on reducing losses and improving profitability by accelerating the construction of key projects in the heating business[70]. - The company optimized human resource allocation, reducing labor costs while maintaining operational efficiency[36]. Market and Industry Challenges - The company faced non-operating fund occupation by controlling shareholders and related parties[8]. - The company has outlined various industry and policy risks in its annual report, urging investors to pay attention to these risks[8]. - The company anticipates ongoing high commodity prices, particularly in coal, which will continue to challenge cost control[67]. - The company is facing risks related to rising raw material prices and market volatility in the heating sector, which may impact revenue stability[74]. Governance and Compliance - The company has improved its information disclosure quality, ensuring that reports are true, accurate, complete, timely, and fair, while actively disclosing industry information[78]. - The company signed a management entrustment agreement with its controlling shareholder, Dalian Thermal Power Group, to avoid competition, receiving a management fee of 3 million yuan per year[79]. - The company has established a comprehensive internal control system, which was approved by the board of directors, to ensure compliance with relevant laws and regulations[111]. - The internal control audit report indicated a significant deficiency in financial reporting controls, leading to a negative opinion from the auditing firm[112]. - The company has implemented measures to enhance governance and compliance, including training for directors and management on relevant laws and regulations[114]. Environmental Commitment - The actual emissions for particulate matter, SO₂, and NOx in 2021 were significantly below the allowed limits, demonstrating the company's commitment to environmental standards[116][117]. - The pollution control facilities at Beihai Thermal Power Plant 1-4 are operating stably, ensuring emissions meet ultra-low standards for particulate matter, sulfur dioxide, and nitrogen oxides[118]. - The company is committed to sustainability and is implementing initiatives to reduce its environmental impact[86]. - The company has increased coal procurement efforts to ensure sufficient reserves for winter heating, receiving commendation from local government for its contributions to energy security[125]. Human Resources - The company had a total of 749 employees, with 724 in the parent company and 25 in major subsidiaries[103]. - The workforce composition includes 598 production personnel, 18 sales personnel, 70 technical personnel, 11 financial personnel, and 52 administrative personnel[103]. - The company implemented a salary policy linking total wages to corporate performance, emphasizing fair and objective evaluations[104]. - In 2021, the company completed a professional question bank with 7,000 entries as part of its training program[105]. - The company achieved a 100% certification rate for special operations personnel in safety training[105]. Future Outlook - The company is focusing on the sustainable development of the heating industry, which is expected to grow steadily due to increasing urbanization and energy reforms[59]. - The company plans to enhance production efficiency and reserve development potential through the "steam to water" initiative, aiming for sustainable development[69]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[86]. - The company has set ambitious targets for revenue growth in the upcoming fiscal year, aiming for a significant increase compared to the previous year[86].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 390,706,744.44, representing a decrease of 2.69% compared to the same period last year[6]. - The net profit attributable to shareholders was CNY 38,590,001.91, down 11.30% year-on-year[6]. - The net profit after deducting non-recurring gains and losses was CNY 37,766,920.75, a decline of 28.76% compared to the previous year[6]. - Basic and diluted earnings per share were both CNY 0.095, down 12.04% year-on-year[7]. - The total comprehensive income for the first quarter of 2022 was CNY 38,590,001.91, compared to CNY 43,504,581.66 in the first quarter of 2021, representing a decrease of approximately 11.5%[20]. - Basic and diluted earnings per share for the first quarter of 2022 were both CNY 0.095, down from CNY 0.108 in the same period last year, indicating a decline of about 12.0%[20]. - Net profit for Q1 2022 was CNY 38,590,001.91, down 11.0% compared to CNY 43,504,581.66 in Q1 2021[19]. Cash Flow - The net cash flow from operating activities was negative CNY 98,496,984.52, a significant decrease of 267.67%[6]. - Cash inflows from operating activities totaled CNY 109,294,864.82 in Q1 2022, a decrease of approximately 16.8% from CNY 131,351,834.05 in Q1 2021[22]. - Cash outflows from operating activities increased to CNY 207,791,849.34 in Q1 2022, compared to CNY 158,141,587.48 in Q1 2021, reflecting a rise of about 31.3%[23]. - The net cash flow from operating activities was negative CNY 98,496,984.52 for Q1 2022, worsening from negative CNY 26,789,753.43 in Q1 2021[23]. - Cash and cash equivalents at the end of Q1 2022 were CNY 265,249,817.38, down from CNY 435,262,601.83 at the end of Q1 2021, a decrease of approximately 39.1%[24]. - Cash inflows from financing activities increased to CNY 367,140,000.00 in Q1 2022, compared to CNY 230,600,000.00 in Q1 2021, marking an increase of about 59.2%[23]. - The net cash flow from financing activities was CNY 87,550,514.66 in Q1 2022, significantly up from CNY 12,109,495.08 in Q1 2021, indicating a growth of approximately 622.5%[23]. - The company experienced a net decrease in cash and cash equivalents of CNY 57,406,596.07 in Q1 2022, an improvement compared to a net decrease of CNY 86,815,354.37 in Q1 2021[24]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,740,849,885.47, a decrease of 2.47% from the end of the previous year[7]. - The company's total assets decreased to CNY 2,740,849,885.47 from CNY 2,810,333,061.28, reflecting a decline of 2.5%[17]. - Current liabilities totaled CNY 1,272,765,355.03, a decrease of 7.7% from CNY 1,379,356,496.83 in the previous year[16]. - The company's total liabilities decreased to CNY 2,105,101,820.26 from CNY 2,213,174,997.98, a reduction of 4.9%[16]. - The company’s equity attributable to shareholders increased to CNY 635,748,065.21 from CNY 597,158,063.30, reflecting a growth of 6.5%[17]. - The company reported a significant increase in short-term borrowings to CNY 399,340,000.00, up from CNY 237,200,000.00, indicating a rise of 68.3%[16]. Production and Sales - The total electricity generated in Q1 2022 was 17,807,000 kWh, a decrease of 709,000 kWh compared to Q1 2021[12]. - The sales volume of steam was 187,026 tons, down 53,726 tons year-on-year due to reduced market demand[12]. - The company implemented measures to manage production based on demand, reducing coal consumption amid rising coal prices[12]. Operating Costs - Total operating revenue for Q1 2022 was CNY 390,706,744.44, a decrease of 2.0% from CNY 401,513,925.94 in Q1 2021[18]. - Total operating costs increased to CNY 351,688,205.23, up 4.2% from CNY 336,273,656.56 in the same period last year[18]. - The company incurred research and development expenses, although specific figures were not provided in the report[18].

Financial Performance - The company's operating revenue for the third quarter was CNY 1,099,920.40, a decrease of 20.99% compared to the same period last year[5] - The net profit attributable to shareholders was a loss of CNY 49,912,118.26, down 17.29% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 36.51% year-on-year, amounting to a loss of CNY 50,024,423.01[5] - Basic earnings per share were CNY -0.123, a decrease of 32.47% year-on-year[5] - The total net profit for Q3 2021 was -41,390,918.43 RMB, compared to -31,064,553.15 RMB in Q3 2020, representing a year-over-year increase in net loss of approximately 33.5%[20] - The basic and diluted earnings per share for Q3 2021 were both -0.102 RMB, compared to -0.077 RMB in Q3 2020, indicating a decline in earnings per share[21] - The company reported a total comprehensive income of -41,390,918.43 RMB for Q3 2021, compared to -31,064,553.15 RMB in Q3 2020, indicating a worsening financial performance[21] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY -292,314,069.98, a decline of 58.38% compared to the previous year[5] - Cash flow from operating activities for the first three quarters of 2021 was -292,314,069.98 RMB, compared to -184,567,668.49 RMB in the same period of 2020, reflecting a worsening cash flow situation[23] - The total cash inflow from financing activities in Q3 2021 was 775,600,000.00 RMB, down from 1,254,000,000.00 RMB in Q3 2020, showing a decrease of approximately 38%[23] - The net cash flow from financing activities for Q3 2021 was 181,722,114.59 RMB, compared to 562,832,959.18 RMB in Q3 2020, indicating a significant decline of about 67.7%[23] - The total cash and cash equivalents at the end of Q3 2021 were 252,846,681.40 RMB, down from 402,885,005.99 RMB at the end of Q3 2020, a decrease of approximately 37%[23] - The total operating cash inflow for the first three quarters of 2021 was 218,995,460.14 RMB, compared to 328,839,651.12 RMB in the same period of 2020, reflecting a decline of about 33.4%[22] - The total cash outflow from operating activities for the first three quarters of 2021 was 511,309,530.12 RMB, slightly down from 513,407,319.61 RMB in the same period of 2020[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,731,547,218.91, an increase of 0.78% from the end of the previous year[6] - The equity attributable to shareholders decreased by 6.00% to CNY 698,986,909.77 compared to the end of the previous year[6] - Total liabilities increased to CNY 2,032,560,309.14 from CNY 1,966,771,605.51, indicating a rise in financial obligations[16] - Current liabilities decreased to CNY 797,492,810.68 from CNY 1,078,687,575.04, suggesting improved short-term financial management[15] - Long-term borrowings rose significantly to CNY 1,198,600,000.00 from CNY 868,600,000.00, reflecting increased leverage[16] - Current assets totaled CNY 971,584,221.94 as of September 30, 2021, slightly up from CNY 971,341,332.76 at the end of 2020[14] - Non-current assets amounted to CNY 1,759,962,996.97, an increase from CNY 1,739,044,897.75 in the previous year[15] - Total assets reached CNY 2,731,547,218.91, compared to CNY 2,710,386,230.51 at the end of 2020, showing a growth in overall asset base[16] Operational Strategy and Maintenance - The company implemented a "production on demand" operational strategy to optimize economic performance during the reporting period[11] - Both the Beihai and Donghai power plants underwent full maintenance and inspection during the reporting period[12] Credit Quality - The company reported a net credit impairment loss of CNY 738,181.19, contrasting with a gain of CNY 89,936.34 in the previous year, indicating a deterioration in credit quality[19] Accounting Standards - The company has not applied the new leasing standards starting from 2021, indicating a potential area for future financial reporting adjustments[24]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately RMB 424.89 million, a decrease of 0.69% compared to RMB 427.86 million in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2021 was approximately RMB 8.52 million, down 25.85% from RMB 11.49 million in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 7.03 million, a decrease of 40.25% compared to RMB 11.76 million in the same period last year[19]. - The weighted average return on net assets decreased to 1.14%, down 0.41 percentage points from 1.55% in the previous year[18]. - The net cash flow from operating activities was negative RMB 159.67 million, compared to negative RMB 80.47 million in the same period last year, representing a decline of 98.41%[19]. - The company achieved a total electricity sales volume of 144.65 million kWh, a decrease of 5.688 million kWh year-on-year, primarily due to adjustments in the operation of the Donghai Power Plant[30]. - The company completed steam sales of 249,900 tons, a year-on-year decrease of 2,850 tons, attributed to a decline in external demand[30]. - The company's main revenue reached 421.68 million yuan, a year-on-year decrease of 5.73 million yuan, with a total profit of 11.46 million yuan, down 4.39 million yuan year-on-year[30]. - Operating revenue for the current period is RMB 424.89 million, a decrease of 0.69% compared to RMB 427.86 million in the same period last year[38]. - Operating costs decreased by 0.83% to RMB 312.59 million from RMB 315.22 million year-on-year[38]. - The company reported a net profit of CNY 63,018,455.54 for the first half of 2021, compared to CNY 54,693,561.19 in the same period of 2020[86]. - The total comprehensive income for the first half of 2021 was CNY 8,521,199.83, down from CNY 11,491,093.02 in the first half of 2020[90]. Assets and Liabilities - The total assets at the end of the reporting period were approximately RMB 2.70 billion, a slight decrease of 0.20% from RMB 2.71 billion at the end of the previous year[19]. - Total assets as of June 30, 2021, amounted to RMB 2,704,973,742.83, a slight decrease from RMB 2,710,386,230.51 at the end of 2020[80]. - Current assets totaled RMB 958,848,981.86, down from RMB 971,341,332.76 at the end of 2020[80]. - The company's inventory rose to RMB 232,336,867.85, up from RMB 117,475,627.70[80]. - The total liabilities as of June 30, 2021, were RMB 1,915,064,908.87, compared to RMB 1,078,687,575.04 at the end of 2020[81]. - Total liabilities as of June 30, 2021, were CNY 1,877,887,052.52, compared to CNY 1,865,557,600.64 at the end of 2020[86]. - The company's equity attributable to shareholders was CNY 744,115,552.68 as of June 30, 2021, up from CNY 735,790,658.33 at the end of 2020[86]. Operational Efficiency - The company is actively enhancing its cogeneration capacity and aims to improve the centralized heating ratio to meet future urban heating demands[23]. - The company has implemented a daily scheduling mechanism to optimize production management and improve operational efficiency[32]. - The company is facing high coal prices, with the market price for 5,000 kcal coal reaching approximately 950 yuan/ton, which is expected to impact future operations[35]. Environmental Compliance - The company reported a total pollutant emission limit for 2021 of 156.6 tons for particulate matter, 1,043.8 tons for SO₂, and 521.9 tons for NOx, with actual emissions in the first half of 2021 being 5.56 tons for particulate matter, 17.34 tons for SO₂, and 30.83 tons for NOx[54]. - The North Sea Thermal Power Plant has implemented ultra-low emission modifications, achieving compliance with ultra-low emission standards during the summer shutdown, resulting in a year-on-year reduction in pollutant emissions[60]. - The company is classified as a key pollutant discharge unit, with both the North Sea and East Sea Thermal Power Plants under strict monitoring for air pollutants[53]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[59]. Corporate Governance - The company did not have any profit distribution plan or capital reserve transfer plan approved by the board during the reporting period[4]. - The board of directors and management underwent significant changes, with new appointments made during the annual general meeting[49]. - The company has not disclosed any employee stock ownership plans or other incentive measures during the reporting period[52]. - The company has not reported any changes in the audit opinion from the previous annual report[65]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[69]. Employee and Community Engagement - The company is committed to enhancing employee skills through targeted training programs to support innovation and operational excellence[34]. - The company has collaborated with local government on poverty alleviation and rural revitalization efforts, aligning with the directives from the Dalian municipal government[61]. - The company paid CNY 58,779,086.74 in employee compensation, an increase from CNY 51,358,453.35 in the previous year[96]. Financial Reporting and Accounting Policies - The financial statements comply with the enterprise accounting standards, reflecting the company's financial position and operating results accurately[123]. - The company recognizes the share of profits and losses from joint operations according to relevant accounting standards[133]. - The company assesses expected credit losses for financial assets measured at amortized cost and recognizes loss provisions based on the entire lifetime expected credit losses[149]. - The company recognizes provisions for contingent liabilities when there is a present obligation, likely outflow of economic benefits, and the amount can be reliably measured[200].

Financial Performance - Net profit attributable to shareholders decreased by 17.60% to CNY 43,504,581.66 year-on-year[5] - Operating revenue slightly decreased by 1.02% to CNY 401,513,925.94 compared to the same period last year[5] - Total revenue for Q1 2021 was CNY 401,513,925.94, a decrease of 1.4% compared to CNY 405,651,765.73 in Q1 2020[24] - Net profit for Q1 2021 was CNY 43,504,581.66, down 17.5% from CNY 52,799,931.40 in Q1 2020[26] - Basic and diluted earnings per share for Q1 2021 were CNY 0.108, compared to CNY 0.130 in Q1 2020[26] - Operating profit for Q1 2021 was CNY 64,178,259.42, down from CNY 69,807,713.14 in the same period last year, reflecting a decline of 9.4%[28] - The net profit for Q1 2021 was CNY 43,163,936.73, a decrease of 17.4% compared to CNY 52,286,764.37 in Q1 2020[28] - Basic and diluted earnings per share for Q1 2021 were both CNY 0.107, down from CNY 0.129 in Q1 2020, representing a decline of 17%[29] Assets and Liabilities - Total assets decreased by 5.06% to CNY 2,573,317,384.35 compared to the end of the previous year[5] - Total assets as of Q1 2021 were CNY 2,486,314,537.23, a decrease from CNY 2,601,348,258.97 at the end of the previous period[23] - Current assets totaled 830.23 million RMB, a decrease of 14.54% from 971.34 million RMB in December 2020[19] - The total liabilities decreased to 1.79 billion RMB, compared to 1.97 billion RMB at the end of 2020[20] - Total liabilities as of Q1 2021 were CNY 1,707,359,942.17, down from CNY 1,865,557,600.64 in the previous period[23] - The company's equity attributable to shareholders increased to 787.12 million RMB, up from 743.61 million RMB[21] - Owner's equity increased to CNY 778,954,595.06 in Q1 2021, compared to CNY 735,790,658.33 in Q1 2020[24] Cash Flow - Cash flow from operating activities improved by 52.58%, reaching a net amount of CNY -26,789,753.43[5] - The net cash flow from operating activities improved to -26.79 million RMB, a 52.58% increase compared to -56.50 million RMB in the previous period[15] - Cash flow from operating activities showed a net outflow of CNY 26,789,753.43, improving from a net outflow of CNY 56,497,632.50 in Q1 2020[30] - The company reported a total cash outflow from operating activities of $161,484,468.48, compared to $244,190,058.80 in the previous year[33] - The net cash flow from investing activities decreased significantly to -72.14 million RMB, a decline of 73.58% from -41.56 million RMB due to increased project expenditures[15] - The company reported a cash outflow from investing activities of CNY 72,135,096.02, compared to CNY 42,352,481.15 in Q1 2020, indicating an increase in investment expenditures[30] - The net cash flow from investing activities was -$64,024,690.02, worsening from -$39,214,565.47 year-over-year[33] - The net cash flow from financing activities dropped to 12.11 million RMB, an 82.30% decrease from 68.40 million RMB, attributed to a reduction in borrowings[15] - The total cash inflow from financing activities was CNY 230,600,000.00, down from CNY 300,000,000.00 in Q1 2020, reflecting a decrease of 23%[31] - The net cash flow from financing activities was $12,109,495.08, down from $68,397,829.77 year-over-year[33] Operational Adjustments - The company adjusted the operation mode of the Donghai Power Plant, resulting in a 100% decrease in its electricity generation[11] - Total electricity generation decreased by 26.5% to 185,16,000 kWh compared to Q1 2020[11] - The total on-grid electricity decreased by 27.3% to 141,08,000 kWh year-on-year[11] Accounts and Inventory - The company reported a significant increase in accounts payable by 66.65% to CNY 10,427,000 due to increased bill settlements[13] - The company reported a significant reduction in accounts receivable, which fell to 48.11 million RMB from 55.66 million RMB[18] - Inventory decreased to 70.65 million RMB, down 40% from 117.48 million RMB[19] - The company incurred interest expenses of CNY 9,880,523.25 in Q1 2021, an increase of 15.9% from CNY 8,512,159.81 in Q1 2020[28]

Financial Performance - In 2020, the company achieved a net profit attributable to shareholders of RMB 9,658,368.69, a decrease of 14.31% compared to RMB 11,271,241.00 in 2019[5]. - The total operating revenue for 2020 was RMB 674,242,612.30, down 12.08% from RMB 766,922,471.87 in 2019[19]. - The basic earnings per share for 2020 was RMB 0.024, a decrease of 14.29% from RMB 0.028 in 2019[20]. - The net profit after deducting non-recurring gains and losses was RMB 10,052,333.76, a decrease of 53.36% from RMB 21,555,162.18 in 2019[19]. - The company reported a total non-operating income and expenses of -393,965.07 in 2020, a significant improvement from -10,283,921.18 in 2019[25]. - The company reported a revenue of 674.24 million RMB, a decrease of 12.08% year-on-year, and a net profit of 9.66 million RMB, down 14.31% from the previous year[43]. - The company reported a total related party transaction amount of RMB 5,275,842.86, with the largest transaction being the purchase of materials from Dalian Thermal Power Group amounting to RMB 1,799,383.52, accounting for 2.02% of similar transactions[83]. Assets and Liabilities - The company's total assets increased by 19.88% to RMB 2,710,386,230.51 at the end of 2020, compared to RMB 2,260,883,519.50 at the end of 2019[19]. - The company’s net assets attributable to shareholders increased slightly by 0.82% to RMB 743,614,625.00 at the end of 2020[19]. - Total current assets increased to ¥971,341,332.76 in 2020 from ¥663,551,671.25 in 2019, representing a growth of approximately 46.3%[147]. - Total liabilities increased to ¥1,966,771,605.51 in 2020 from ¥1,523,285,866.79 in 2019, representing a growth of about 29.2%[149]. - Long-term borrowings increased significantly to ¥868,600,000.00 in 2020 from ¥229,300,000.00 in 2019, reflecting a growth of about 278.5%[149]. Cash Flow - The net cash flow from operating activities was RMB 154,712,035.61, down 28.47% from RMB 216,300,426.72 in 2019[19]. - The company’s investment activities generated a net cash outflow of 220.04 million RMB, a decrease of 23.77% compared to the previous year[52]. - The financing activities resulted in a net cash inflow of 411.67 million RMB, an increase of 129.71% due to additional bank loans for project expansion[52]. - The cash and cash equivalents increased to ¥522,077,956.20, representing 19.26% of total assets, up from 9.22% in the previous period, a growth of 150.32%[54]. Operational Performance - The company completed electricity generation of 394.84 million kWh, a decrease of 21.8% year-on-year, achieving 99.3% of the annual plan[40]. - Steam sales volume reached 373,000 tons, down 45.6% year-on-year, completing 62.2% of the annual plan, primarily due to the impact of the pandemic[40]. - High-temperature water sales volume increased to 40.68 million GJ, up 4.9% year-on-year, completing 106.5% of the plan, driven by the growth in high-temperature water users[40]. - The company achieved a heating charge rate of 98.25% and a comprehensive charge rate of 99.22% in 2020, indicating a high level of revenue collection[38]. Market and Strategic Initiatives - The company actively expanded the heating market, adding 1.95 million square meters of heating market and 1.65 million square meters of new heating load[38]. - The company is positioned to benefit from the urban heating market's growth, with plans to consolidate scattered heating loads into its network, enhancing market dominance[64]. - The company aims to leverage new technologies and renewable energy applications to maximize capacity and ensure safe and economical operations[64]. - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming fiscal year[170]. Risk Management - The company faced significant industry and policy risks, which were detailed in the annual report[6]. - The company anticipates market fluctuations affecting its heating revenue due to the cyclical nature of the real estate market and increasing supply interruptions[69]. - The company will focus on enhancing safety management and equipment maintenance to mitigate operational risks[70]. Corporate Governance and Compliance - The company has integrated party leadership into its corporate governance structure, enhancing the depth of integration between party work and business operations[90]. - The company has maintained compliance with regulatory requirements regarding related party transactions[81]. - The company has not faced any risks of suspension or termination of its listing status[79]. - The company has not reported any major asset acquisitions or disposals during the reporting period[84]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 766, with 739 in the parent company and 27 in subsidiaries[118]. - The company has implemented a performance-based salary system linked to corporate efficiency, with a focus on fair and objective evaluations[119]. - The company has a total of 8 senior management personnel listed, with various roles in the organization[115]. - The current chairman and general manager, Shao Yang, has held his position since May 2016[114]. Environmental and Social Responsibility - The company achieved actual emissions of 9.25 tons of smoke, 23.24 tons of sulfur dioxide, and 60.69 tons of nitrogen oxides in 2020, well below the allowed limits[93]. - The company has maintained a stable operation of environmental protection facilities, ensuring compliance with ultra-low emission standards[95]. - The company has been involved in poverty alleviation efforts in collaboration with its controlling shareholder, focusing on specific projects in Guizhou Province and Dalian City[89].