Financial Performance - The company's operating revenue for the first quarter reached RMB 107,155.2 million, representing a year-on-year increase of 22.42%[3] - Net profit attributable to shareholders was RMB 19,539.5 million, reflecting a growth of 17.85% compared to the same period last year[3] - The basic earnings per share (EPS) stood at RMB 0.14, which is a 20.69% increase from the previous year[3] - The operating profit for Q1 2022 was RMB 420,508 thousand, compared to RMB 334,554 thousand in Q1 2021, indicating a growth of 25.7%[18] - The company recorded a net profit of RMB 212,355 thousand in Q1 2022, a significant increase from RMB 41,446 thousand in Q1 2021[18] Cash Flow - The net cash flow from operating activities surged to RMB 21,235.5 million, marking a significant increase of 412.37% year-on-year[3][6] - The company reported a significant increase in cash flow from operating activities primarily due to higher receipts from sewage treatment services compared to the previous year[6] - The net cash flow from financing activities in Q1 2022 was negative RMB 62,420 thousand, a decrease from positive RMB 1,671,386 thousand in Q1 2021[19] - Cash and cash equivalents at the end of Q1 2022 amounted to RMB 2,026,062 thousand, down from RMB 2,393,239 thousand at the end of Q1 2021[19] Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 2,108,999.8 million, showing a slight increase of 0.12% from the end of the previous year[4] - The total liabilities decreased to RMB 12,782,126 thousand as of March 31, 2022, from RMB 12,961,222 thousand at the end of 2021, indicating a reduction in financial obligations[12] - The total current assets as of March 31, 2022, were RMB 4,861,414 thousand, slightly up from RMB 4,837,125 thousand at the end of 2021[11] Shareholder Information - The total number of shareholders at the end of the reporting period was 60,888, with the top ten shareholders holding a combined 73.82% of the shares[7] - The largest shareholder, Tianjin Municipal Investment Co., Ltd., held 50.14% of the shares, amounting to 715,565,186 shares[7][8] Research and Development - Research and development expenses for Q1 2022 were RMB 2,375 thousand, an increase from RMB 1,673 thousand in Q1 2021, reflecting a focus on innovation[15] Future Plans - The company plans to revise and resubmit its private placement plan for A-shares to the China Securities Regulatory Commission (CSRC) after terminating the previous plan[10] - The company is committed to timely information disclosure regarding its private placement and will adhere to relevant regulations to mitigate investment risks[10] - The company plans to continue expanding its market presence and investing in new technologies, although detailed strategies were not outlined in the call[18]

Financial Performance - The net profit attributable to the company for 2021 was RMB 693,187,998.85, with a distributable profit of RMB 4,577,680,726.37 after accounting for statutory surplus reserves and previous year dividends [3]. - The proposed cash dividend for 2021 is RMB 1.46 per 10 shares, totaling RMB 208,375,350.78, which represents 30.06% of the distributable profit for the year [3]. - The company's operating revenue for 2021 was RMB 453,557.90 million, representing a 34.83% increase compared to RMB 336,387.40 million in 2020 [18]. - Net profit attributable to shareholders for 2021 was RMB 69,318.90 million, a 21.60% increase from RMB 57,003.90 million in 2020 [18]. - The net profit after deducting non-recurring gains and losses was RMB 61,359.80 million, up 24.42% from RMB 49,316.00 million in 2020 [18]. - The total profit amounted to RMB 89,605.9 million, an increase of 24.77% year-on-year [39]. - The basic earnings per share for 2021 were RMB 0.49, reflecting a 22.50% increase from RMB 0.40 in 2020 [19]. - The weighted average return on equity for 2021 was 9.00%, an increase of 1.26% compared to 7.74% in 2020 [19]. Assets and Liabilities - The total assets of the company at the end of 2021 were RMB 2,106,529.20 million, a 12.03% increase from RMB 1,880,296.90 million at the end of 2020 [18]. - The company’s net assets attributable to shareholders at the end of 2021 were RMB 712,019.80 million, an 8.02% increase from RMB 659,135.10 million at the end of 2020 [18]. - The company's long-term borrowings increased by 70.23% to RMB 719.72 million, reflecting the need for project construction and operational funding [57]. - The company's short-term borrowings amounted to RMB 145.85 million, reflecting new short-term loans from its subsidiary [57]. - The company's long-term receivables increased by 131.39% to RMB 381.19 million, attributed to the recognition of PPP project receivables [56]. Operational Highlights - The company successfully secured multiple wastewater treatment projects, including the Tianjin Xiqing Dasi project and the PPP project in Jieshou City, expanding its wastewater treatment capacity [29]. - The company achieved a technology transformation with 55 technology projects completed, resulting in an economic benefit of RMB 15,171.36 million from technology achievements in 2021 [32]. - The company has expanded its wastewater treatment capacity by 80,000 cubic meters per day and added 65 kilometers of recycled water pipeline during the reporting period [34]. - The company has a hazardous waste disposal capacity of 128,000 tons per year across four projects, with a landfill project capacity of 314,600 tons [35]. - The company has a total sludge disposal capacity of 2,970 tons per day, with an increase of 1,700 tons per day in entrusted operation during the reporting period [35]. Research and Development - The company added 16 new authorized patents and 6 new software copyrights during the reporting period, enhancing its R&D capabilities [38]. - The company reported a total R&D investment of RMB 2,376.24 million, accounting for 0.52% of total revenue, with 22.80% of R&D costs capitalized [53]. - The company’s R&D expenses rose by 38.97% to RMB 1,834.50 million, reflecting increased investment in innovation [40]. - The company achieved a contract amount of RMB 135.58 million from 37 technology transformation projects during the reporting period, saving RMB 16.13 million in electricity and chemical costs [35]. Governance and Management - The board of directors consists of 9 members, including 3 executive directors and 6 non-executive directors, with a total of 24 board meetings held during the reporting period [82]. - The company has established a comprehensive corporate governance structure, with the audit committee reviewing internal control effectiveness annually [88]. - The company has complied with the Corporate Governance Code and has made necessary adjustments to its governance guidelines in response to regulatory changes [80]. - The company has a shareholding management system that limits directors and senior management from transferring more than 25% of their shares during their tenure [81]. - The company has established a training program for directors to enhance their skills and knowledge in line with ongoing business development and regulatory updates [83]. Environmental Compliance - The company’s wastewater treatment projects have passed environmental impact assessments and received approvals from environmental protection departments [180]. - The company has implemented emergency response plans for environmental incidents, which have been reviewed and filed with local environmental authorities [181]. - The company’s self-monitoring plans for environmental compliance are in place, with results publicly disclosed on local environmental monitoring platforms [182]. - The company’s new energy cooling and heating business, along with distributed photovoltaic projects, contribute to carbon emission reductions [185]. Future Outlook - The company anticipates significant growth in the urban environmental infrastructure market by 2025, with specific targets for wastewater treatment and solid waste management [65]. - The company expects to process no less than 155,385 million cubic meters of wastewater in 2022, with service fee revenue and cost fluctuations not exceeding 30% under current policies and operational conditions [69]. - A planned investment of no less than RMB 38.15 million will be allocated for R&D and technological upgrades in wastewater and sludge treatment in 2022 [70]. - The company plans to expand its market presence by entering three new provinces, aiming for a 10% market share in these regions within two years [104]. Shareholder Engagement - The company aims to distribute at least 20% of the annual distributable profit to shareholders in cash dividends, with a cumulative distribution over three years not less than 30% of the distributable profit [137]. - The company’s cash dividend policy prioritizes cash over stock dividends when conditions are met, ensuring a stable and transparent distribution mechanism [136]. - The company must communicate with shareholders, especially minority shareholders, through various channels before discussing the cash dividend proposal [142]. - The company is required to disclose the cash dividend policy and its execution status in the annual report, ensuring transparency and compliance with regulations [145]. Stock Options and Incentives - The stock option incentive plan granted a total of 12,170,000 stock options to 155 eligible participants, with the market price at RMB 6.28 per share at the time of the first grant [150]. - The total estimated value of the granted stock options is RMB 30.11 million, with each option valued at RMB 2.11 based on the Black-Scholes model [165]. - The company aims to align the interests of shareholders, the company, and individual managers through the stock option incentive plan [152]. - The total number of stock options granted to any individual incentive recipient will not exceed 1.0% of the total issued share capital as of the reporting period end [158].

Financial Performance - The net profit attributable to the parent company for 2021 was RMB 693,187,998.85, with a legal surplus reserve of RMB 58,281,246.28 deducted, resulting in a distributable profit of RMB 4,577,680,726.37[7] - The cash dividend proposed for 2021 is RMB 1.46 per share (including tax), totaling RMB 208,375,350.78, which accounts for 30.06% of the distributable profit[7] - The total undistributed profit at the beginning of the year was RMB 4,114,041,385.40[7] - The company's operating revenue for 2021 was CNY 453,557.90 million, representing a 34.83% increase compared to CNY 336,387.40 million in 2020[26] - The net profit attributable to shareholders for 2021 was CNY 69,318.90 million, a 21.60% increase from CNY 57,003.90 million in 2020[26] - The net cash flow from operating activities for 2021 was CNY 93,680.80 million, showing a significant increase of 75.95% from CNY 53,243.60 million in 2020[26] - The total assets at the end of 2021 were CNY 2,106,529.20 million, which is a 12.03% increase from CNY 1,880,296.90 million at the end of 2020[26] - The basic earnings per share for 2021 was CNY 0.49, up 22.50% from CNY 0.40 in 2020[27] - The company reported a weighted average return on equity of 10.11% for 2021, an increase of 1.16 percentage points from 8.95% in 2020[30] - The total profit amounted to 89,605.9 million RMB, an increase of 24.77% year-on-year[50] Operational Highlights - The company successfully secured multiple wastewater treatment projects, expanding its wastewater treatment rights scale, including the Tianjin Xiqing Dasi project and the PPP project in Jieshou City[37] - The company achieved a technology transformation with 55 completed technology projects, resulting in an economic benefit of approximately CNY 151.71 million from technology achievements[40] - The company established a smart operation management system, enhancing management efficiency through various modules such as water quality warning and energy consumption management[37] - The company acquired two hazardous waste projects, establishing a new pattern in hazardous waste treatment across northern and southern regions[37] - The company expanded its wastewater treatment capacity by 80,000 cubic meters per day, bringing the total to approximately 560.46 million cubic meters per day[45] - The company added 106.6 million square meters of heating service area in its new energy cooling and heating business, totaling 311 million square meters[45] - The hazardous waste disposal capacity increased to 12.8 million tons per year across four projects, with a landfill project capacity of 31.46 million tons[45] Research and Development - Research and development expenses increased by 38.97% to 1,834.50 million RMB due to heightened investment in R&D[50] - The company received 13 utility model patents and engaged in three national-level research projects, showcasing its commitment to technological advancement[40] - The number of R&D personnel reached 287, accounting for 12.48% of the total workforce[67] - The company invested 200 million in R&D for new technologies, focusing on AI and machine learning[117] - The company is investing 50 million in R&D for new technologies aimed at enhancing operational efficiency and sustainability[139] Governance and Compliance - All board members attended the board meeting, ensuring the report's authenticity and completeness[5][8] - The company received a standard unqualified audit report from PwC Zhong Tian[6] - The board of directors consists of 9 members, including independent directors, ensuring compliance with governance standards and effective oversight[104] - The company held 24 board meetings and 5 shareholder meetings during the reporting period, demonstrating active governance practices[104] - The company has established a comprehensive risk management system to identify, analyze, and respond to various policy risks, ensuring dynamic management of potential threats[99] Market Expansion and Strategy - The company aims to increase its market share in the renewable energy sector by winning the Tianjin Houtai Park energy station project[37] - The company plans to enhance its focus on resource and energy utilization in line with national policies promoting wastewater resource utilization and solid waste recycling[41] - The company will continue to expand its industrial and organic solid waste business, as well as its new energy supply services, to enhance its emerging environmental protection business segment[93] - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the industry[124] - Market expansion plans include entering two new international markets, which are expected to contribute an additional 5% to revenue in 2022[117] Financial Management and Dividend Policy - The company has a cash dividend policy that mandates a minimum of 20% of the distributable profit to be distributed as cash dividends each year, provided certain conditions are met[177] - The company aims for cumulative cash distributions over three years to be no less than 30% of the distributable profit during that period[177] - The board of directors is responsible for proposing the profit distribution plan based on the company's operational status and future funding needs[177] - The company has modified its articles of association to enhance transparency and clarity in its cash dividend policy[176] - The company confirmed that the cash dividend policy complies with the company's articles of association and shareholder resolutions, with clear standards and ratios established[181] Environmental Impact - The company achieved a cumulative reduction of pollutants, including approximately 455,700 tons of COD and 54,500 tons of total nitrogen, contributing significantly to water environment management[199] - The company adheres to national and local wastewater discharge standards, primarily the Class A standard of GB18918-2002[198] - During the reporting period, the company discharged approximately 25,500 tons of COD, 1,250 tons of total nitrogen, 781 tons of ammonia nitrogen, and 252 tons of total phosphorus[199] Human Resources - The total number of employees remained stable at 822, indicating no major changes in workforce size[125] - The professional composition includes 1,188 production personnel, 94 sales personnel, 520 technical personnel, 122 financial personnel, 203 administrative personnel, and 173 management personnel[168] - The education level of employees includes 4 with a doctorate, 123 with a master's degree, and 1,136 with a bachelor's degree[168]

Financial Performance - The company's operating revenue for Q3 2021 was RMB 136,061.1 million, representing a year-on-year increase of 41.91%[7] - The net profit attributable to shareholders for Q3 2021 was RMB 24,019.9 million, an increase of 33.65% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 22,460.1 million, up 40.52% year-on-year[7] - The basic earnings per share for Q3 2021 was RMB 0.17, reflecting a growth of 33.65% compared to the previous year[10] - Total operating revenue for the first three quarters of 2021 reached CNY 3,264,565, an increase from CNY 2,480,166 in the same period of 2020, representing a growth of approximately 31.6%[36] - Net profit for the first three quarters of 2021 was CNY 582,783, compared to CNY 479,791 in 2020, reflecting a growth of approximately 21.5%[40] - The total comprehensive income attributable to the parent company increased to CNY 544,688 thousand from CNY 436,674 thousand, representing a growth of approximately 24.8% year-over-year[42] - Basic and diluted earnings per share rose to CNY 0.38, up from CNY 0.31, reflecting a 22.6% increase[42] Assets and Liabilities - The total assets at the end of the reporting period were RMB 2,148,083.7 million, an increase of 14.24% from the end of the previous year[10] - As of September 30, 2021, the company's total current assets reached RMB 5,903,952,000, an increase from RMB 3,795,459,000 as of December 31, 2020, representing a growth of approximately 55.6%[28] - The company's total assets increased to CNY 21,480,837 in 2021 from CNY 18,802,969 in 2020, marking a growth of about 8.9%[33] - Non-current liabilities rose to CNY 9,598,449 in 2021, compared to CNY 7,704,446 in 2020, representing an increase of approximately 24.6%[33] - The total liabilities of the company reached CNY 13,469,155 in 2021, up from CNY 11,221,326 in 2020, indicating a growth of about 20.1%[33] Cash Flow - The company's cash flow from operating activities for the year-to-date was RMB 82,611.7 million, showing a significant increase of 70.82%[10] - Cash inflow from operating activities totaled CNY 2,666,100 thousand, compared to CNY 2,183,472 thousand in the previous year, marking an increase of 22.1%[44] - Net cash flow from operating activities improved to CNY 826,117 thousand, up from CNY 483,606 thousand, indicating a growth of 71.1%[44] - Cash outflow for investing activities was CNY 1,426,407 thousand, compared to CNY 1,138,777 thousand in the previous year, showing an increase of 25.3%[44] - Net cash flow from financing activities increased significantly to CNY 1,605,716 thousand from CNY 148,866 thousand, a rise of 979.5%[44] - The ending balance of cash and cash equivalents reached CNY 2,658,287 thousand, up from CNY 1,563,945 thousand, reflecting a growth of 70.0%[44] - The company reported a significant increase in cash and cash equivalents, with a net increase of RMB 300.18 million due to combined effects from operating, investing, and financing activities[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 64,441[18] - The total number of shares held by the top ten unrestricted shareholders accounted for 8.72% of the company's total share capital[21] - The company has not identified any strategic investors among the top ten shareholders[21] Research and Development - The company's research and development expenses for Q3 2021 were RMB 54.76 million, indicating an increase compared to the same period last year[17] - Research and development expenses for the first three quarters of 2021 were CNY 6,930, up from CNY 4,478 in 2020, showing an increase of approximately 54.7%[36] Government Subsidies and Accounting Policies - The company received government subsidies amounting to RMB 1,999.0 million during the reporting period[11] - The company adjusted its accounting policies in accordance with the new revenue recognition standards, impacting various financial statement items, including a decrease in intangible assets by RMB 1,753,383,335.85[25] Other Financial Metrics - The company reported a long-term receivables balance of RMB 3,483,568,000, significantly higher than RMB 1,647,402,000 at the end of 2020, marking an increase of about 111.7%[28] - Accounts receivable increased to RMB 2,417,379,000 from RMB 1,959,083,000, reflecting a growth of approximately 23.4%[28] - The company reported a contract asset of RMB 374,433,000 as of September 30, 2021, reflecting its ongoing project engagements[28] - The company did not report any net profit from the merged entity prior to the merger, consistent with the previous period[42] - Payments to employees increased to CNY 328,146 thousand from CNY 270,243 thousand, representing a rise of 21.4%[44]

Financial Performance - The company's operating revenue for the first half of 2021 reached RMB 190,395.4 million, representing a 25.15% increase compared to RMB 152,139.0 million in the same period last year[21]. - Net profit attributable to shareholders of the listed company was RMB 30,448.9 million, an increase of 18.50% from RMB 25,694.8 million year-on-year[21]. - The net cash flow from operating activities was RMB 68,947.5 million, showing a significant increase of 163.86% compared to RMB 26,129.9 million in the previous year[21]. - Basic earnings per share for the first half of 2021 were RMB 0.21, an increase of 18.33% compared to RMB 0.18 in the same period last year[24]. - The weighted average return on net assets was 4.57%, up 0.44 percentage points from 4.13% in the previous year[24]. - The net profit after deducting non-recurring gains and losses was CNY 26,435.2 million, a 16.69% increase year-on-year[114]. - The total comprehensive income for the period was 446,850 thousand RMB, up from 248,288 thousand RMB, indicating a growth of 80%[144]. Assets and Liabilities - The total assets of the company at the end of the reporting period were RMB 2,009,604.7 million, up 6.88% from RMB 1,880,296.9 million at the end of the previous year[21]. - The company's total liabilities increased to RMB 7,396,465 thousand in the first half of 2021, up from RMB 6,620,344 thousand in the same period of 2020, marking a 11.7% rise[134]. - Long-term borrowings increased to RMB 639,499.2 million, a rise of 51.26% from RMB 422,789.4 million, reflecting new debt financing[42]. - The total liabilities reached CNY 12,375,453, up from CNY 11,221,326, indicating a growth of 10.3%[124]. - The company's total current assets reached CNY 4,322,008 million, up from CNY 3,795,459 million at the end of the previous year[119]. Business Operations - The wastewater treatment business generated revenue of 1,381.49 million yuan, up 26.36% year-on-year, driven by increased treatment volume and service fee adjustments[36]. - The hazardous waste business revenue surged by 232.91% to 109.96 million yuan, attributed to the addition of two new projects[36]. - The company processed 74.016 million cubic meters of wastewater during the reporting period, a 5.01% increase from the previous year[36]. - The company expanded its wastewater treatment capacity by 84,500 cubic meters per day and added approximately 183 kilometers of pipeline[27]. - The company completed the acquisition of two hazardous waste companies for 780 million yuan, enhancing its capabilities in hazardous waste management[35]. Strategic Initiatives - The company plans to continue expanding its water service scale while accelerating the layout of strategic new businesses to enhance comprehensive environmental governance capabilities[30]. - The strategic new business includes a service area of 2 million square meters for new energy cooling and heating, primarily in Tianjin[29]. - The company has not disclosed any plans for new products, technologies, market expansion, or mergers and acquisitions in this report[21]. Financial Management - The company has not proposed any profit distribution or capital reserve transfer plans for the current period[62]. - The company emphasizes the importance of legal compliance and risk management to mitigate financial risks associated with government credit[56]. - The company plans to enhance operational management levels through standardized practices and staff training[56]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 65,406, including 63 H-share shareholders[94]. - The top shareholder, Tianjin Municipal Investment Co., Ltd., held 715,565,186 shares, representing 50.14% of the total shares[97]. - The company has not identified any related party relationships among the top ten shareholders[99]. Environmental Impact - The company achieved a cumulative reduction of pollutants, including approximately 234,000 tons of COD, 27,000 tons of total nitrogen, 25,000 tons of ammonia nitrogen, and 3,100 tons of total phosphorus, contributing significantly to water body environmental management[74]. - The company’s wastewater treatment projects strictly adhered to relevant discharge standards, with normal operational conditions reported[68]. - The company has implemented measures to reduce carbon emissions through its new energy cooling and heating business and distributed photovoltaic power generation projects[75]. Legal and Compliance - The company is involved in a significant lawsuit with a claim amount of ¥12,030,003 related to unpaid energy fees from 2012 to 2016, with the court ruling in favor of the company[80]. - The company has not reported any significant changes in its financial or operational status during the reporting period[83]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance and reflect the company's financial position and operating results accurately[197].

证券代码：600874 股票简称：创业环保 公告编号：临 2021-037 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：2021 年 5 月 19 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 2021 年 3 月 26 日在上海证券交易所网站（www.sse.com.cn）发布了《2020 年年 度报告》和《2020 年年度利润分配方案公告》。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 2021 年 5 月 19 日（周三）下午 15:00-16:30 以网 络方式在全景网举办 2020 年度天津辖区网上集体接待日活动（以下简称"本次 说明 ...

Financial Performance - Operating revenue for the first quarter reached RMB 87,528.3 million, representing a year-on-year increase of 22.20%[10] - Net profit attributable to shareholders was RMB 16,579.3 million, up 27.72% from the same period last year[10] - The company reported a net profit excluding non-recurring gains and losses of RMB 14,470.5 million, an increase of 24.31% year-on-year[10] - Net profit for Q1 2021 totaled RMB 208,245 thousand, compared to RMB 165,741 thousand in Q1 2020, marking a growth of 25.6%[43] - The company recorded investment income of 35,441 thousand RMB in the first quarter of 2021, a substantial rise from 6,163 thousand RMB in the same period of 2020[48] Cash Flow and Liquidity - Net cash flow from operating activities improved significantly to RMB 4,144.6 million, a remarkable increase of 889.15% compared to the previous year[10] - Cash and cash equivalents increased by RMB 74,058 million, a rise of 759.53% compared to the previous period[22] - The company reported a net cash inflow from operating activities of 41,446 thousand RMB, a significant improvement from a net outflow of 5,252 thousand RMB in the first quarter of 2020[54] - Cash flow from financing activities net amount was 1,444,783 thousand RMB, an increase of 786.5% from 163,703 thousand RMB in the same period last year[58] - The company reported a net increase in cash and cash equivalents of 816,950 thousand RMB, compared to 184,013 thousand RMB in the same period last year, reflecting strong liquidity[58] Assets and Liabilities - Total assets increased to RMB 2,066,092.6 million, a growth of 9.88% compared to the end of the previous year[10] - Total liabilities increased to RMB 1,290,430 million, marking a growth of 5% compared to the end of the previous year[17] - The company’s total assets reached RMB 20,660,926 million, up from RMB 18,802,969 million at the end of 2020[27] - Total liabilities reached RMB 8,046,975 thousand as of March 31, 2021, compared to RMB 6,620,344 thousand at the end of 2020, reflecting a growth of 21.5%[38] Shareholder Information - The total number of shareholders reached 67,051, with the largest shareholder holding 50.14% of the shares[16] - Basic earnings per share increased to RMB 0.116, reflecting a growth of 27.47% compared to the previous year[12] - Basic and diluted earnings per share for the first quarter of 2021 were both 0.116 RMB, compared to 0.091 RMB in the same period of 2020, reflecting a 27.5% increase[48] Government Support and Subsidies - The company received government subsidies amounting to RMB 2,815.7 million, which are closely related to its normal business operations[12] Operational Highlights - Revenue from wastewater treatment business significantly increased due to the new plant operation and higher service fees, contributing to overall revenue growth[19] - The company plans to adjust its non-public issuance of A-shares, pending approval from the China Securities Regulatory Commission[23] Cost Management - Research and development expenses for the first quarter of 2021 were minimal at 3 thousand RMB, indicating a focus on cost management[48] - The company’s financial expenses decreased to 48,509 thousand RMB in the first quarter of 2021 from 50,920 thousand RMB in the same period of 2020, primarily due to lower interest expenses[48]

Financial Performance - The net profit attributable to the parent company for 2020 was RMB 570,040,574.29, after deducting the statutory surplus reserve of RMB 60,804,977.56 and adding the beginning retained earnings of RMB 3,757,519,230.68, resulting in a distributable profit of RMB 4,114,041,385.40[7] - The company's operating revenue for 2020 was CNY 336,387.4 million, representing a year-on-year increase of 17.97% compared to CNY 285,145.3 million in 2019[25] - The net profit attributable to shareholders for 2020 was CNY 57,003.9 million, an increase of 12.41% from CNY 50,710.7 million in 2019[25] - The net cash flow from operating activities for 2020 was CNY 53,243.6 million, a decrease of 39.83% compared to CNY 88,493.3 million in 2019[25] - The total assets at the end of 2020 were CNY 1,880,296.9 million, reflecting a 4.51% increase from CNY 1,799,080.7 million at the end of 2019[25] - The basic earnings per share for 2020 was CNY 0.40, up 11.11% from CNY 0.36 in 2019[28] - The weighted average return on net assets for 2020 was 8.95%, an increase of 0.47 percentage points from 8.48% in 2019[28] - The company achieved operating revenue of RMB 336,387.4 million in 2020, representing a 17.97% increase compared to the previous year[47] - The operating cost increased by 12.65% to RMB 218,511.9 million, primarily due to increased business volume and higher effluent quality standards[50] - The net profit attributable to the parent company rose by 12.41% to RMB 57,003.9 million, driven by increased business volume and operating profit growth[47] Dividend Policy - The cash dividend proposed for 2020 is RMB 1.20 per 10 shares, totaling RMB 171,267,411.60, which accounts for 30.04% of the distributable profit for the year[7] - The total cash dividends for 2020 will be submitted for approval at the annual general meeting[7] - The company emphasizes the importance of cash dividends, stating that at least 20% of the distributable profits should be allocated as cash dividends each year, with a cumulative minimum of 30% over three years[110] - In the case of significant capital expenditures, the company will ensure that cash dividends constitute at least 40% of the profit distribution if in a mature phase[110] - The company has revised its profit distribution policy to prioritize cash dividends, ensuring transparency and sustainability in returns to shareholders[107] - The company aims to maintain a stable and continuous profit distribution policy while considering long-term interests and sustainable development[110] - The company will only distribute profits if it has positive distributable profits and sufficient cash flow, ensuring that it does not affect ongoing operations[110] Risk Management - The company has not reported any major risk warnings for the year[8] - The company has confirmed that there are no violations of decision-making procedures regarding external guarantees[8] - The company is focused on risk management, establishing a comprehensive risk management system to identify and respond to various business risks[109] - The company will continue to monitor external risks and implement risk prevention plans while focusing on production and operations amid the ongoing pandemic[99] - The company recognizes the potential risks associated with policy changes and operational management, particularly in the context of environmental regulations[109] Operational Developments - The company is still in a development phase and plans to allocate funds for external project development in 2021[7] - The company has established a big data operation management platform to promote high-quality development in operational management[41] - The company plans to raise up to RMB 1.8 billion through a private placement to repay interest-bearing debts and supplement working capital, pending regulatory approval[46] - The company plans to expand its operations in the central and western regions, driven by new project launches[59] - The company is positioned to benefit from increasing market opportunities in rural environmental governance and wastewater resource utilization, as outlined in national policy directives[37] Environmental Impact - The cumulative reduction of environmental pollutants included approximately 409,000 tons of COD and 209,000 tons of BOD, contributing significantly to water environment management[143] - The company’s wastewater treatment projects strictly adhered to relevant discharge standards, with normal operational conditions reported[144] - All operational wastewater treatment projects passed environmental impact assessments and received approvals from environmental protection departments[145] - The company has established emergency response plans for sudden environmental incidents, which have been reviewed and filed with local environmental authorities[146] - Environmental self-monitoring plans were implemented, with results publicly disclosed on local environmental monitoring platforms[147] Corporate Governance - The company has engaged PwC Zhongtian as its domestic auditor and RSM Hong Kong as its overseas auditor, both with a 26-year auditing history[119] - The supervisory board is responsible for overseeing the board's formulation and execution of profit distribution policies and shareholder return situations[113] - The company has confirmed compliance with the disclosure requirements of the Hong Kong Stock Exchange regarding related party transactions[131] - The company has consistently prioritized reasonable returns to investors since its restructuring in December 2000, with cash dividends issued in all years except 2018 due to the planning of a non-public offering in A-shares[113] Strategic Initiatives - The company is exploring opportunities for mergers and acquisitions to further its growth objectives[178] - The company is actively pursuing strategic investments to enhance its market position[178] - The company is considering strategic acquisitions to bolster its market position, targeting firms with complementary technologies[183] - The company has initiated a strategic partnership with a tech firm to enhance its digital capabilities[189] Employee and Management - The company has a workforce of 2,034 employees, with 21 holding senior titles, indicating a strong professional team in various fields[41] - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 13.2294 million yuan[195] - Changes in the board included the resignation of several directors and the appointment of new management personnel, indicating a restructuring within the company[198]