Financial Performance - Operating revenue for the period from January to September was RMB 248,016.6 million, representing a year-on-year increase of 27.80%[17] - Net profit attributable to shareholders of the listed company was RMB 43,667.4 million, up 12.64% from the same period last year[17] - Basic earnings per share for the period was RMB 0.31, reflecting a growth of 14.81% year-on-year[19] - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching RMB 38,638.3 million, a growth of 23.46%[17] - Total revenue for Q3 2020 reached 958,776 thousand RMB, a 33.9% increase from 715,974 thousand RMB in Q3 2019[49] - The net profit for Q3 2020 was 202,750 thousand RMB, up 11.0% from 181,757 thousand RMB in the same period last year[54] - The total profit for Q3 2020 was 255,069 thousand RMB, representing a 18% increase from 215,840 thousand RMB in Q3 2019[54] - The total comprehensive income for the first three quarters of 2020 was CNY 640,422,000, compared to CNY 343,999,000 in the same period of 2019, representing an increase of 86.2%[59] Assets and Liabilities - Total assets at the end of the reporting period reached RMB 1,843,561.3 million, an increase of 2.47% compared to the end of the previous year[17] - The total liabilities reached RMB 1,098,263 million, increasing by RMB 13,401 million, or 1.24% from the previous year-end[25] - Accounts receivable increased by RMB 81,744.9 million, or 32.79%, primarily due to an increase in receivables from sewage treatment services[25] - Short-term borrowings decreased by RMB 20,000 million, or 100%, as the company repaid maturing short-term loans[25] - Long-term borrowings increased by RMB 99,757.6 million, or 33.18%, primarily due to new long-term loans taken during the period[25] - Total assets decreased slightly to 11,789,750 thousand RMB from 11,894,179 thousand RMB year-over-year[49] - Total liabilities increased to 10,982,626 thousand RMB from 10,848,620 thousand RMB, indicating a rise of 1.2%[49] - The company's equity attributable to shareholders rose to 6,457,986 thousand RMB, up from 6,174,025 thousand RMB, marking a growth of 4.6%[43] Cash Flow - The net cash flow from operating activities for the first nine months decreased by 43.31% to RMB 48,360.6 million compared to the previous year[17] - The net cash flow from operating activities was RMB 48,360.6 million, a decrease of RMB 36,945.1 million, or 43.31% compared to the same period last year[27] - The net cash flow from investing activities improved by RMB 70,254.3 million, or 38.24%, due to lower investment expenditures in engineering projects compared to the previous year[27] - The net cash flow from operating activities for the first three quarters of 2020 was CNY 483,606,000, down from CNY 853,057,000 in 2019, a decrease of 43.3%[63] - The net cash flow from investing activities for the first three quarters of 2020 was -CNY 1,134,828,000, compared to -CNY 1,837,371,000 in 2019, indicating an improvement of 38.3%[65] - Cash inflow from financing activities in the first three quarters of 2020 was CNY 2,027,076,000, an increase from CNY 1,813,215,000 in 2019, representing a growth of 11.8%[65] Shareholder Information - The total number of shareholders at the end of the reporting period was 69,305, with the largest shareholder holding 50.14% of the shares[20] Government Support and Strategic Plans - The company received government subsidies amounting to RMB 6,145.4 million during the reporting period[20] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[20] - The company announced a non-public issuance of A-shares, which was approved by the board and shareholders, pending approval from the China Securities Regulatory Commission[28] Expenses and Costs - The company reported a significant decrease in sales expenses, which rose to RMB 1,181.3 million, an increase of 241.02% due to the operational costs of hazardous waste projects[27] - Research and development expenses for Q3 2020 were 1,961 thousand RMB, slightly up from 1,960 thousand RMB in Q3 2019[52] - Financial expenses in Q3 2020 amounted to 74,814 thousand RMB, a 74% increase compared to 42,846 thousand RMB in Q3 2019[52] - The company's management expenses for Q3 2020 were 38,723 thousand RMB, up from 36,422 thousand RMB in Q3 2019[52] Other Financial Metrics - The weighted average return on net assets increased by 0.38 percentage points to 6.91% compared to the previous year[17] - The company's basic earnings per share for Q3 2020 was 0.13 RMB, compared to 0.12 RMB in Q3 2019[54] - The ending cash and cash equivalents balance stood at $491,980 thousand, up from $304,435 thousand, reflecting improved liquidity position[67] - The company did not apply the new revenue and lease standards retroactively, which may impact future financial reporting[69]

Financial Performance - The company's operating revenue for the first half of 2020 was RMB 152,139.0 million, representing a 24.22% increase compared to RMB 122,471.6 million in the same period last year[18]. - The net profit attributable to shareholders of the listed company was RMB 25,694.8 million, up 17.59% from RMB 21,850.3 million year-on-year[18]. - The net profit after deducting non-recurring gains and losses was RMB 22,655.0 million, reflecting a 17.05% increase from RMB 19,355.3 million in the previous year[18]. - Basic earnings per share for the first half of 2020 were RMB 0.18, a 20.00% increase from RMB 0.15 in the same period last year[21]. - The weighted average return on net assets increased by 0.40 percentage points to 4.13% compared to 3.73% in the previous year[21]. - The company achieved a revenue of RMB 152,139.0 million in the first half of 2020, representing a 24.22% increase compared to the previous year[34]. - Operating costs increased by 27.80% to RMB 104,071.2 million, reflecting the rising costs associated with wastewater treatment operations[34]. - The net profit attributable to the parent company was RMB 25,694.8 million, an increase of 17.59% year-on-year, driven by higher wastewater treatment volumes and increased service fees in Tianjin[34]. - Wastewater treatment revenue reached RMB 109,327.5 million, a 25.48% increase, with a total of 70,485 million cubic meters of wastewater processed, up 8.2% from the previous year[34]. Cash Flow and Investments - The net cash flow from operating activities decreased by 64.19%, amounting to RMB 26,129.9 million compared to RMB 72,970.7 million in the same period last year[18]. - The net cash flow from investing activities was -76,402.1 million, showing an improvement of 40.29% year-on-year[37]. - The net cash flow from financing activities decreased by 70.19% to 22,824.5 million compared to the previous period[37]. - The company plans to raise up to RMB 1.8 billion through a private placement of A-shares to repay debts and supplement working capital[30]. - Total equity investment amounted to 21,615.79 million, a decrease of 26,158.54 million year-on-year due to fewer new projects acquired[44]. Government Support and Subsidies - The company received government subsidies amounting to RMB 3,802.9 million, contributing positively to the financial results[22]. - The company faces risks related to the COVID-19 pandemic, which may impact operational costs and market uncertainty[52]. - Government credit risk is critical due to the reliance on government payments for wastewater treatment services, affecting cash flow and financial stability[52]. Operational Developments - The company expanded its distributed photovoltaic power generation projects, planning an annual output of 292.16 million kWh[27]. - The company signed a supplementary agreement for the operation of four wastewater treatment plants in Tianjin, establishing a new service fee pricing structure[30]. - The company’s hazardous waste business generated revenue of RMB 3,302.9 million, marking its first revenue contribution since the second half of 2019[34]. - The company’s new energy cooling and heating services generated revenue of RMB 4,605.7 million, a 13.95% increase due to expanded service areas[34]. - The company continues to focus on enhancing project operation capabilities while exploring market opportunities to expand its water service business[27]. Environmental Impact - The company operates 41 wastewater treatment projects, with a design capacity exceeding 20,000 tons per day, classified as key pollutant discharge units by local environmental authorities[79]. - During the reporting period, the company discharged approximately 12,900 tons of COD, 3,000 tons of BOD, and 270 tons of SS, contributing significantly to environmental pollution reduction[82]. - The cumulative reduction of COD was approximately 211,800 tons, BOD 93,700 tons, SS 140,600 tons, total nitrogen 24,900 tons, ammonia nitrogen 22,500 tons, and total phosphorus 3,200 tons[82]. - The company adheres to national and local wastewater discharge standards, with effluent quality meeting the specified criteria[79]. - The company has established emergency response plans for environmental incidents, which have been approved by local environmental protection bureaus[82]. Shareholder Information - As of the end of the reporting period, the total number of common stock shareholders was 73,605, including 65 H-share shareholders[88]. - The company reported a total of 715,565,186 shares held by Tianjin Municipal Investment Co., accounting for 50.14% of the total shares[92]. - HKSCC Nominees Limited holds 337,952,810 shares, representing 23.68% of the total shares[92]. - The top ten shareholders do not include any strategic investors, indicating a diverse ownership structure[94]. - The total number of shares held by the top ten unrestricted shareholders amounts to 1,080,000,000 shares[94]. Financial Stability and Debt Management - The company's current ratio improved to 1.74, up 28.89% from 1.35 at the end of the previous year, due to a significant reduction in short-term borrowings and current liabilities[111]. - The EBITDA interest coverage ratio increased to 5.86, representing a 37.88% rise compared to 4.25 in the same period last year, attributed to higher profits[111]. - The company maintained a loan repayment rate of 100%, with all debts serviced on time without any extensions or reductions[111]. - The company's asset-liability ratio remained stable at 60.30%, indicating consistent financial health[111]. - The company has a total credit line of approximately RMB 130.92 billion, with RMB 33.01 billion utilized and RMB 97.91 billion remaining as of the end of the reporting period[113]. Corporate Governance and Compliance - The company has not experienced any changes in accounting policies or significant accounting errors during the reporting period[87]. - The company has not violated any commitments related to its bond issuance, ensuring investor interests are protected[116]. - The financial statements are prepared based on the principle of going concern, reflecting the company's financial status and operating results accurately[196]. - The accounting period for the financial statements is from January 1, 2020, to June 30, 2020[197]. - The company adheres to the accounting standards for enterprises, ensuring the financial reports are true and complete[196].

证券代码：600874 股票简称：创业环保 公告编号：临 2020-020 债券代码：136801 债券简称: 16 津创 01 债券代码：143609 债券简称：18 津创 01 天津创业环保集团股份有限公司 关于举行"投资者网上集体接待日"活动的预告公告 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：2020 年 6 月 10 日（周三）下午 15:00-16:30 会议召开地点："全景·路演天下"（http://rs.p5w.net） 会议召开方式：网络方式 天津创业环保集团股份有限公司（以下简称"本公司"或"公司"）已于 2020 年 3 月 27 日发布了 2019 年年度报告。为便于广大投资者更深入全面的了解公司 情况，本公司定于 2020 年 6 月 10 日（周三）下午 15:00-16:30 以网络方式在全 景网举办 2019 年度天津辖区网上集体接待日活动（以下简称"本次说明会"）。 一、说明会类型 本次说明会以网络方式召开，届时将就本公司 2019 年年度报告、利润分 ...

Financial Performance - Operating revenue for the first quarter reached CNY 71,627.6 million, a 20.86% increase year-on-year[11] - Net profit attributable to shareholders was CNY 12,980.7 million, representing a 39.00% increase compared to the same period last year[11] - Basic earnings per share rose by 40.00% to CNY 0.091 per share[11] - Total revenue for Q1 2020 reached 716,276, an increase of 20.9% compared to 592,634 in Q1 2019[42] - Operating profit for Q1 2020 was 167,983, up 29.4% from 129,846 in Q1 2019[42] - Net profit for Q1 2020 was 135,034, representing a 38.6% increase from 97,454 in Q1 2019[42] - Earnings per share for Q1 2020 was 0.091, compared to 0.065 in Q1 2019, reflecting a 39.7% growth[44] - The total comprehensive income for the first quarter of 2020 was 92,585 thousand RMB, compared to 40,046 thousand RMB in the same period of 2019, representing an increase of 131.3%[50] Cash Flow - Net cash flow from operating activities decreased significantly by 102.54% to -CNY 525.2 million[11] - The net cash flow from operating activities for the first quarter of 2020 was -5,252 thousand RMB, a decrease from 206,931 thousand RMB in the first quarter of 2019[53] - Cash inflows from operating activities totaled 612,724 thousand RMB in Q1 2020, down 12.1% from 697,103 thousand RMB in Q1 2019[53] - Cash outflows from operating activities increased to 617,976 thousand RMB in Q1 2020, compared to 490,172 thousand RMB in Q1 2019, marking a rise of 26.0%[53] - The net cash flow from investing activities was -469,117 thousand RMB in Q1 2020, an improvement from -693,252 thousand RMB in Q1 2019[53] - Cash inflows from financing activities amounted to 1,165,230 thousand RMB in Q1 2020, compared to 697,230 thousand RMB in Q1 2019, reflecting a growth of 67.0%[53] - The net cash flow from financing activities was 560,530 thousand RMB in Q1 2020, up from 413,732 thousand RMB in Q1 2019, indicating an increase of 35.5%[53] - The ending balance of cash and cash equivalents was 2,152,462 thousand RMB at the end of Q1 2020, compared to 1,735,954 thousand RMB at the end of Q1 2019, representing a growth of 24.0%[54] Assets and Liabilities - Total assets increased by 2.39% to CNY 1,842,046.2 million compared to the end of the previous year[11] - Total liabilities reached RMB 1,113,054 million, up by RMB 28,192 million or 2.60% from the end of the previous year[20] - Total assets amounted to CNY 12,203,723 thousand, up from CNY 11,894,179 thousand, indicating an increase of around 2.6%[35] - Non-current liabilities totaled CNY 8,276,814 thousand, compared to CNY 7,299,751 thousand, reflecting an increase of approximately 13.4%[31] - Total equity attributable to shareholders rose to CNY 6,303,832 thousand, compared to CNY 6,174,025 thousand, reflecting an increase of about 2.1%[31] - Cash and cash equivalents reached CNY 925,270 thousand, an increase from CNY 741,257 thousand, marking a growth of approximately 25%[31] - Accounts receivable increased to CNY 2,078,702 thousand from CNY 1,958,081 thousand, showing a rise of about 6.1%[31] Operational Highlights - The company processed approximately 350 million cubic meters of wastewater in Q1 2020, representing a year-on-year increase of about 7.6%[20] - The new wastewater treatment price in Tianjin was set at RMB 2.32 per cubic meter, compared to RMB 1.76 per cubic meter in the same period last year[20] - Sales expenses surged by RMB 280.40 million or 277.08% due to the operational launch of hazardous waste projects[20] - Other income rose by RMB 2,260.10 million or 130.87%, primarily due to increased VAT refunds and deferred income[20] Shareholder Information - The total number of shareholders at the end of the reporting period was 76,421[14] - The largest shareholder, Tianjin Municipal Investment Co., Ltd., holds 50.14% of the shares[14] Government Support - The company received government subsidies amounting to CNY 1,811.9 million during the reporting period[14] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and drive future growth[51]

Financial Performance - The net profit attributable to the parent company for 2019 was RMB 507.11 million, with a statutory surplus reserve of RMB 41.14 million deducted, resulting in a distributable profit of RMB 3.76 billion[7]. - The cash dividend proposed for 2019 is RMB 1.07 per 10 shares, totaling RMB 152.71 million, which accounts for 30.11% of the distributable profit[7]. - The total available profit for distribution to shareholders after deducting the cash dividends is RMB 3.76 billion[7]. - The company's operating revenue for 2019 was CNY 285,145.3 million, an increase of 16.50% compared to CNY 244,751.5 million in 2018[25]. - The net profit attributable to shareholders for 2019 was CNY 50,710.7 million, a slight increase of 1.19% from CNY 50,116.8 million in 2018[25]. - The net profit after deducting non-recurring gains and losses was CNY 38,445.2 million, a decrease of 13.72% compared to CNY 44,560.6 million in 2018[25]. - The company's total assets at the end of 2019 were CNY 1,799,080.7 million, reflecting a growth of 14.68% from CNY 1,568,744.8 million in 2018[25]. - The cash flow from operating activities for 2019 was CNY 88,493.3 million, an increase of 20.52% from CNY 73,425.1 million in 2018[25]. Operational Developments - The company expanded its wastewater treatment capacity to 5.3491 million cubic meters per day, with an increase of 367,000 cubic meters per day compared to the beginning of the reporting period[32]. - The company added 30,000 cubic meters per day to its domestic water supply capacity during the reporting period, bringing the total to 240,000 cubic meters per day for domestic supply[32]. - The sewage treatment business generated revenue of 2,025.026 million yuan, up 24.51% year-on-year, driven by increased sewage treatment volume and a price adjustment for services in Tianjin[46]. - The company processed 136,741.9 million cubic meters of sewage during the reporting period, a 12.4% increase from the previous year[46]. - The company has expanded its operations to 15 provinces and cities, including Tianjin, Beijing, Hebei, and others, enhancing its market presence[32]. Research and Development - The company has a total of 91 valid patents and 3 software copyrights, with 15 industry standards and regulations compiled or co-compiled[39]. - The company’s R&D expenses increased by 71.71% to 10.439 million yuan, reflecting a commitment to technological innovation[49]. - Total R&D investment reached 26.42 million yuan, which is 0.93% of the operating revenue[66]. - The number of R&D personnel is 212, making up 10.57% of the total workforce[66]. - The company is investing 50 million in R&D for new technologies in the upcoming year[187]. Environmental and Compliance - The company has established a new company for the investment and operation of the Jiuquan wastewater treatment project, with a registered capital of 17,823,790 RMB[91]. - The company has implemented strict management of poverty alleviation funds, ensuring dedicated use and accounting[144]. - The company’s wastewater treatment projects strictly adhere to discharge standards, achieving compliance with effluent quality and related environmental indicators[151]. - The company has developed emergency response plans for environmental incidents, which have been reviewed and filed with local environmental protection agencies[153]. - The company maintains ongoing communication with government departments to resolve any environmental compliance issues effectively[151]. Shareholder and Governance - The company has established a cash dividend policy that prioritizes cash dividends over stock dividends, aiming for a minimum of 20% of the distributable profit to be allocated as cash dividends each year[110]. - The company’s profit distribution policy requires approval from at least two-thirds of the voting rights at the shareholders' meeting[113]. - The company has consistently emphasized reasonable returns to investors, having conducted cash dividends in all years except 2018 due to a planned private placement[116]. - The supervisory board is responsible for monitoring the implementation of the profit distribution policy and ensuring compliance with established procedures[116]. - The total number of ordinary shareholders increased from 76,650 to 81,228 during the reporting period, indicating a growing investor interest[164]. Future Outlook and Strategy - The company plans to process no less than 1.3 billion cubic meters of wastewater in 2020, with expected revenue and cost fluctuations not exceeding 20%[104]. - The estimated capital expenditure for 2020 is 4.6 billion yuan, primarily for upgrading water projects and constructing new energy and hazardous waste projects[104]. - The company aims to enhance its core competitiveness by increasing technology research and investment driven by market demand[104]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 100 million allocated for potential deals[187]. - The management team emphasized the importance of sustainability initiatives, aiming for a 25% reduction in carbon emissions by 2025[190].

Financial Performance - Operating revenue for the first nine months rose by 12.15% to CNY 194,069.0 million year-on-year[17] - Net profit attributable to shareholders decreased by 7.07% to CNY 38,766.8 million compared to the same period last year[17] - The company reported a decrease of 20.21% in net profit after deducting non-recurring gains and losses, totaling CNY 31,297.0 million[17] - The diluted earnings per share decreased by 6.9% to CNY 0.27[19] - Total revenue for Q3 2019 reached 715,974 thousand RMB, an increase from 622,690 thousand RMB in Q3 2018, representing a growth of approximately 15%[53] - Net profit for the first three quarters of 2019 was 2,636,823 thousand RMB, compared to 2,444,111 thousand RMB in the same period of 2018, reflecting an increase of approximately 7.9%[52] - Net profit for Q3 2019 reached CNY 239,831 thousand, compared to CNY 178,582 thousand in Q3 2018, reflecting a year-over-year increase of about 34.3%[61] - The total profit for Q3 2019 was CNY 249,901 thousand, up from CNY 195,826 thousand in the same period last year, indicating a growth of approximately 27.6%[61] - Basic and diluted earnings per share for the first three quarters of 2019 were both CNY 0.17, an increase from CNY 0.13 in the same period of 2018, reflecting a growth of 30.8%[63] Cash Flow and Liquidity - Net cash flow from operating activities increased by 36.35% to CNY 85,305.7 million year-to-date[17] - Cash inflow from operating activities for the first three quarters of 2019 was CNY 2,404,821,000, up from CNY 2,051,759,000 in 2018, indicating an increase of 17.1%[67] - Net cash flow from operating activities for the first three quarters of 2019 was CNY 853,057,000, compared to CNY 625,617,000 in 2018, showing a growth of 36.3%[69] - Cash and cash equivalents at the end of the third quarter of 2019 were CNY 1,640,741,000, compared to CNY 1,930,915,000 at the end of the same period in 2018, representing a decrease of 15.0%[69] - The company received CNY 2,032,415,000 in cash from sales of goods and services in the third quarter of 2019, an increase from CNY 1,709,396,000 in the same quarter of 2018, reflecting a growth of 18.9%[67] - The company paid CNY 860,090,000 in cash for purchasing goods and services in the third quarter of 2019, compared to CNY 646,291,000 in the same quarter of 2018, indicating an increase of 33.0%[67] Assets and Liabilities - Total assets increased by 8.35% to CNY 1,699,722.0 million compared to the end of the previous year[17] - The total liabilities increased to RMB 999,186 million, up RMB 91,937 million, or 10.13% from the end of the previous year[26] - The company's prepayments increased significantly by RMB 2,770.80 million, or 117.75%, mainly due to the increase in prepaid material costs during the period[26] - Other receivables rose by RMB 1,374.40 million, or 38.01%, mainly due to the increase in project bid deposits and receivables for tax refunds[26] - The investment property decreased by RMB 6,366.80 million, or 75.75%, primarily due to a reduction in the leasing business of the parent company's office building[26] - The construction in progress increased by RMB 20,536.40 million, or 136.06%, mainly due to investments in non-franchised projects during the period[29] - The company reported a significant increase in non-current liabilities due within one year, which rose by RMB 48,665.70 million, or 199.97%[29] Shareholder Information - The number of shareholders reached 83,979, with the largest shareholder holding 50.14% of the shares[22] Government Subsidies - The company received government subsidies amounting to CNY 4,772.1 million year-to-date, which are closely related to its normal business operations[19] Research and Development - Research and development expenses for Q3 2019 were 1,960 thousand RMB, a marginal increase from 1,929 thousand RMB in Q3 2018, indicating a focus on innovation[53]

Financial Performance - The company's operating revenue for the first half of 2019 was RMB 122,471.6 million, representing a 10.55% increase compared to RMB 110,779.8 million in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 22.67% to RMB 21,850.3 million from RMB 28,256.5 million year-on-year[19]. - Basic earnings per share decreased by 25.00% to RMB 0.15 from RMB 0.20 in the same period last year[21]. - Operating costs increased by 26.49% to CNY 81,436.0 million, leading to a net profit attributable to the parent company of CNY 21,850.3 million, a decrease of 22.67% year-on-year[31]. - The company reported a total of RMB 2,495.0 million in non-recurring gains and losses, including government subsidies of RMB 3,107.2 million[22]. - The weighted average return on net assets decreased by 1.55 percentage points to 3.73% from 5.28% in the previous year[21]. Cash Flow and Investments - The net cash flow from operating activities increased significantly by 115.90% to RMB 72,970.7 million compared to RMB 33,799.0 million in the previous year[21]. - Net cash flow from investing activities was -127,960.6 million, an 18.35% increase in outflows year-over-year[35]. - Net cash flow from financing activities decreased by 32.06% to 76,564.9 million, attributed to lower new debt financing compared to the previous year[35]. - The company made significant equity investments totaling 47,774.33 million, a year-over-year increase of approximately 25,811.21 million, focusing on new water service projects[41]. - The company’s cash and cash equivalents increased by 21,575.0 million, a decrease of 43.76% compared to the previous year[35]. Assets and Liabilities - The total assets of the company reached RMB 1,645,616.8 million, marking a 4.90% increase from RMB 1,568,744.8 million at the end of the previous year[21]. - The total liabilities reached CNY 9,632,559 thousand, up from CNY 9,072,481 thousand, indicating a growth of around 6.2%[115]. - The company's debt-to-asset ratio increased to 58.53%, up by 1.21% from the previous year[102]. - The total equity attributable to the parent company at the end of the reporting period is 5,584,509 thousand RMB, an increase from 5,413,776 thousand RMB at the end of the previous period[158]. Business Operations - The company processed a total of 66,893 million cubic meters of wastewater, an increase of 16.4% compared to the same period last year[31]. - Revenue from wastewater treatment and plant construction reached CNY 87,129.9 million, up 16.48% year-on-year, driven by increased treatment volume[31]. - The company has expanded its water service capacity to a total of 542.5 million cubic meters per day, including 467 million cubic meters per day under the PPP model[25]. - The company has won four new water projects during the reporting period, further expanding its business scale and service capabilities[28]. Research and Development - The company’s R&D expenses decreased by 35.18% to CNY 327.0 million, reflecting a focus on cost control[32]. - Research and development expenses for the first half of 2019 were CNY 3,270 thousand, down 35.2% from CNY 5,045 thousand in the same period last year[127]. Legal and Compliance - The company emphasizes the importance of legal compliance and risk management to safeguard its interests and ensure stable operations[10]. - The company is involved in a lawsuit with a claim amount of RMB 12,030,003, which has been executed and resolved[56]. - The arbitration case with the Anguo government involves a claim amount of RMB 47,475,320.86, with ongoing execution proceedings[56]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 87,883, with 66 H-share shareholders included[82]. - The largest shareholder, Tianjin Municipal Investment, holds 715,565,186 shares, representing 50.14% of the total shares[85]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[87]. Environmental and Social Responsibility - Cumulative emissions of COD during the reporting period were approximately 14,300 tons, with a reduction of 250,900 tons[74]. - The company operates 35 wastewater treatment projects, all of which meet the local environmental discharge standards[71]. - The company has established emergency response plans for environmental incidents, which have been approved by local environmental authorities[77]. Future Outlook - The company plans to issue green short-term financing bonds and medium-term notes totaling no more than CNY 2 billion to support its "13th Five-Year" business development plan[31]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[161].

证券代码：600874 股票简称：创业环保 公告编号：临 2019-016 债券代码：136801 债券简称: 16 津创 01 债券代码：143609 债券简称：18 津创 01 | --- | --- | |----------------------------------------------------------------------|-------| | | | | 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：2019 年 5 月 9 日（周四）下午 15:00-16:30 会议召开地点："全景·路演天下"（http://rs.p5w.net） 会议召开方式：网络方式 天津创业环保集团股份有限公司（以下简称"本公司"或"公司"）已于 2019 年 3 月 28 日发布了 2018 年年度报告。为便于广大投资者更深入全面的了解公司 情况，本公司定于 2019 年 5 月 9 日（周四）下午 15:00-16:30 以网络方式在全 景网举办 ...

Financial Performance - Net profit attributable to shareholders decreased to RMB 9,338.6 million, down 14.7% year-on-year[11] - Operating revenue for the period reached RMB 59,263.4 million, representing a 20.22% increase compared to the same period last year[11] - The company reported a decrease in net profit attributable to shareholders after deducting non-recurring gains and losses, which was RMB 9,469.6 million, down 12.3% year-on-year[11] - Basic earnings per share decreased to RMB 0.065, down 15.58% from the same period last year[11] - Operating profit for Q1 2019 was 129,846 thousand RMB, down 12.3% from 148,047 thousand RMB in Q1 2018[35] - Net profit for Q1 2019 was 97,454 thousand RMB, a decrease of 13.8% compared to 113,090 thousand RMB in Q1 2018[35] - The net profit for the first quarter of 2019 was CNY 40,046,000, a decrease of 34.3% compared to CNY 60,872,000 in the same period of 2018[38] - Operating profit for the first quarter was CNY 55,774,000, down 31.9% from CNY 81,820,000 year-over-year[38] Assets and Liabilities - Total assets increased to RMB 1,603,324.8 million, up 2.20% from the end of the previous year[11] - Total liabilities increased to RMB 946,401 million, up 4.32% from the end of the previous year[16] - The company's total assets as of March 31, 2019, amounted to 16,033,248 million, up from 15,687,448 million at the end of 2018[24] - The total liabilities increased to 9,464,012 million in Q1 2019, compared to 9,072,481 million in the previous year[26] - The company’s total equity as of March 31, 2019, was 6,569,236 million, slightly down from 6,614,967 million at the end of 2018[26] Cash Flow - Net cash flow from operating activities improved significantly to RMB 20,693.1 million, a 366.39% increase from the previous year[11] - The cash flow from operating activities showed a net inflow of CNY 206,931,000, a significant improvement from a net outflow of CNY 77,680,000 in the previous year[42] - Cash inflow from operating activities reached 691,543, a significant increase from 310,370 in the same quarter last year, representing a growth of 122.3%[46] - Net cash flow from operating activities was 187,244, compared to a negative 37,457 in the first quarter of the previous year, indicating a strong turnaround[46] - Cash outflow from investment activities totaled 257,662, a decrease from 492,905 year-over-year, reflecting a reduction in investment expenditures[46] - Cash inflow from financing activities was 335,679, down from 700,000 in the previous year, indicating a decrease in borrowing[46] - The ending balance of cash and cash equivalents was 587,772, down from 941,062 at the end of the previous year, indicating a liquidity contraction[49] Expenses - Research and development expenses decreased by 47.58% to 155.1 million, primarily due to the payment of bonuses in the previous year[19] - The company reported a decrease in other income by 39.82% to 1,727.0 million, attributed to lower VAT refunds compared to the previous year[19] - The company incurred financial expenses of CNY 37,098,000, an increase of 21.1% from CNY 30,615,000 in the same quarter of 2018[38] - The company’s tax expenses for the quarter were CNY 13,349,000, a decrease of 34.3% compared to CNY 20,290,000 in the first quarter of 2018[38] - The company’s management expenses increased by 32.43% to 3,395.2 million, due to the formal operation of several subsidiaries[19] Shareholder Information - The number of shareholders reached 91,500, with the largest shareholder holding 50.14% of the shares[13] - Government subsidies recognized in the current period amounted to RMB 58.7 million[11]

Financial Performance - The net profit attributable to the parent company for 2018 was RMB 501.17 million, with a statutory surplus reserve of RMB 37.20 million deducted, resulting in a distributable profit of RMB 3.44 billion[7]. - The cash dividend proposed for 2018 is RMB 1.06 per share (including tax), totaling RMB 151.29 million, which accounts for 30.19% of the distributable profit[7]. - The company reported an opening undistributed profit of RMB 2.98 billion at the beginning of the year[7]. - The company's operating revenue for 2018 was CNY 2,447.5 million, an increase of 13.93% compared to CNY 2,148.3 million in 2017[26]. - The net profit attributable to shareholders for 2018 was CNY 501.2 million, a decrease of 1.39% from CNY 508.3 million in 2017[26]. - The cash flow from operating activities for 2018 was CNY 734.3 million, down 55.20% from CNY 1,638.9 million in 2017[26]. - The total assets at the end of 2018 were CNY 15,687.4 million, representing a 25.97% increase from CNY 12,452.9 million at the end of 2017[26]. - The basic earnings per share for 2018 were CNY 0.35, a decrease of 2.78% from CNY 0.36 in 2017[28]. - The weighted average return on equity for 2018 was 9.05%, down 1.28 percentage points from 10.33% in 2017[28]. Operational Highlights - The company expanded its wastewater treatment capacity by 304,650 cubic meters per day, entering rural wastewater treatment projects[39]. - The company successfully issued CNY 1.1 billion bonds to support daily operational funding[39]. - Research and development efforts resulted in 28 projects, with 8 patents granted, including 3 inventions[39]. - The company’s main business revenue reached CNY 2,260.132 million, an increase of 16.99% year-on-year[43]. - The company is focusing on expanding its capabilities in sludge treatment, recycled water utilization, and hazardous waste disposal[38]. - The company achieved a main business revenue of 34,501 million yuan and an operating profit of 12,957 million yuan in 2018[102]. Cash Flow and Investments - Operating cash flow net amount decreased due to a lower government subsidy received compared to the previous year[46]. - Investment cash flow net amount decreased as the company's various engineering project investments exceeded the previous year's expenditures[46]. - The company reported a decrease in investment income due to lower dividends received from Tianjin Northern Talent Port Co., Ltd. compared to the previous year[46]. - The company plans to achieve a capital expenditure of 3.3 billion yuan in 2019, primarily for water project upgrades and new energy projects[108]. Risk Management and Compliance - The company emphasizes the importance of risk prevention and technology research to ensure stable and healthy development[105]. - The company is facing operational management risks due to stricter environmental standards during the "13th Five-Year Plan" period, necessitating upgrades to wastewater treatment facilities[111]. - The company aims to enhance its comprehensive risk management framework to identify, analyze, and respond to various business risks effectively[111]. - The company has established a cash dividend policy, committing to distribute at least 20% of the annual distributable profit to shareholders, with a minimum of 30% over three years[115]. Shareholder Engagement and Governance - The company must disclose the cash dividend policy and its execution status in the annual report, ensuring clarity on the standards and ratios for dividends[121]. - The supervisory board is responsible for overseeing the board's compliance with the cash dividend policy and ensuring accurate disclosure of its execution[126]. - The company has engaged PwC as its domestic auditor and PwC Hong Kong for its Hong Kong audit, both having provided services for 24 years[126]. - The company has ongoing litigation with Jiyuan Xingchuang, involving a total amount of RMB 12,030,003, which was upheld by the court after appeals[129]. Environmental Compliance - The company aims to achieve Tianjin's A-level discharge standards by August 1, 2019, as part of its compliance with environmental regulations[160]. - The company has implemented targeted technical optimization measures for wastewater treatment facilities, enhancing effluent quality[160]. - The company has adhered to national and local wastewater discharge standards, ensuring compliance with environmental regulations[155]. - The company has established emergency response plans for environmental incidents, which have been approved by local environmental authorities[162]. Future Outlook - The company plans to process no less than 1.2 billion cubic meters of wastewater in 2019, with expected revenue and cost changes not exceeding 20%[108]. - The company intends to invest no less than 18 million yuan in technology research and development in 2019, focusing on new processes and application technologies in wastewater and sludge treatment[108]. - The company is exploring potential acquisitions to strengthen its market position, with a budget of $300 million allocated for this purpose[193]. - The company aims to achieve a 10% growth in net profit for the upcoming fiscal year, driven by strategic initiatives and market expansion[196].