Financial Performance - The company's operating revenue for Q3 2021 was ¥1,250,076,767.62, a decrease of 44.44% compared to the same period last year[6]. - The net profit attributable to shareholders was ¥61,693,636.64, down 5.63% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,424,064.23, a significant decline of 91.85% compared to the previous year[6]. - Total revenue for the first three quarters of 2021 was CNY 3,361,127,880.57, a decrease of 3.6% compared to CNY 3,487,917,245.79 in the same period of 2020[18]. - Net profit for the first three quarters of 2021 was CNY 184,617,996.49, an increase of 5.4% compared to CNY 174,681,849.24 in 2020[19]. - The total comprehensive income attributable to the parent company's owners for Q3 2021 was CNY 155,661,970.40, an increase from CNY 150,897,994.96 in Q3 2020, representing a growth of approximately 5.0%[20]. Assets and Liabilities - The total assets at the end of the reporting period reached ¥8,525,466,152.04, reflecting an increase of 20.04% from the end of the previous year[6]. - The company's total assets as of September 30, 2021, amounted to CNY 8,525,466,152.04, up from CNY 7,101,972,371.39 at the end of 2020, representing a growth of 20.0%[16]. - Total liabilities reached CNY 4,437,560,739.52, an increase of 42.2% from CNY 3,122,373,406.90 in 2020[17]. - Current assets totaled CNY 2,889,943,092.47 as of September 30, 2021, compared to CNY 2,372,069,318.05 at the end of 2020, reflecting an increase of 21.8%[16]. - Current liabilities totaled approximately $2.57 billion, down by $5.39 million compared to the prior period[27]. Cash Flow - The company reported a net cash flow from operating activities of ¥371,247,476.05, down 16.63% year-to-date[6]. - The net cash flow from operating activities for the first nine months of 2021 was CNY 371,247,476.05, down from CNY 445,276,619.52 in the same period of 2020, indicating a decrease of about 16.6%[23]. - The total cash inflow from investment activities in the first nine months of 2021 was CNY 799,858,481.21, significantly lower than CNY 1,878,025,595.14 in the previous year, reflecting a decline of approximately 57.5%[23]. - The net cash flow from financing activities for Q3 2021 was CNY 690,316,746.90, compared to a net outflow of CNY 2,447,732.54 in Q3 2020, showing a substantial improvement[24]. - The cash inflow from financing activities in the first nine months of 2021 was CNY 2,648,036,296.90, compared to CNY 2,284,613,825.09 in the same period of 2020, showing an increase of about 15.9%[24]. Shareholder Information - The top two shareholders, Ningbo Development Investment Group Co., Ltd. and Ningbo Kaitou Energy Group Co., Ltd., hold 25.6% and 25.2% of the shares, respectively[11]. - Shareholders' equity amounted to approximately $3.98 billion, remaining unchanged from the previous period[27]. Research and Development - The company experienced a significant increase in research and development expenses during the reporting period, contributing to the decline in net profit[10]. - Research and development expenses for the third quarter of 2021 were CNY 20,944,227.02, reflecting ongoing investment in innovation[19].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately CNY 2.11 billion, representing a 70.53% increase compared to CNY 1.24 billion in the same period last year[17]. - The net profit attributable to shareholders was CNY 93 million, a 10.76% increase from CNY 84 million in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 140 million, showing a significant increase of 98.32% compared to CNY 71 million in the same period last year[17]. - Basic earnings per share rose to CNY 0.0856, a 12.34% increase from CNY 0.0762 in the same period last year[19]. - The weighted average return on net assets increased by 0.22 percentage points to 2.62%[19]. - The company reported a total non-recurring loss of approximately CNY 47 million, primarily due to losses from financial assets and other operational expenses[20]. - The company achieved a revenue of 2.111 billion yuan, an increase of 70.53% year-on-year[28]. - Net profit attributable to shareholders reached 93.01 million yuan, up 10.76% year-on-year, while net profit excluding non-recurring gains and losses was 140.09 million yuan, an increase of 98.32% year-on-year[28]. Cash Flow and Assets - The net cash flow from operating activities decreased by 43.44% to CNY 244 million, down from CNY 432 million in the previous year[17]. - Total assets increased by 10.77% to CNY 7.87 billion, compared to CNY 7.10 billion at the end of the previous year[18]. - The net cash flow from operating activities decreased by 43.44% to ¥244,375,186.50, down from ¥432,059,355.08 in the previous year[36]. - The company reported a significant increase in long-term borrowings, which rose by 362.38% to ¥739,493,788.40 from ¥159,931,323.62[39]. - The total amount of guarantees provided by the company, including those to subsidiaries, was RMB 121.77 million, accounting for 30.69% of the company's net assets[85]. - The total liabilities increased to CNY 3,899,096,690.66, compared to CNY 3,122,373,406.90 at the end of 2020, marking a rise of 24.9%[104]. Investments and Subsidiaries - The company established a new subsidiary, Shangrao Yongneng Biomass Energy Technology Co., Ltd., with a registered capital of CNY 76 million, focusing on biomass power generation and energy utilization technology development[44]. - The company invested ¥1,249.15 million in Zhejiang Electric Power Trading Center Co., Ltd., which has a registered capital of ¥27,098.50 million, representing a 4% stake[42]. - The company completed the acquisition of 100% equity in Ning Neng Lin Gao Biomass Power Generation Co., Ltd. as of the reporting period end[73]. - The company has 25 subsidiaries included in the consolidated financial statements, reflecting a broad operational scope[136]. Market and Growth Strategy - The company plans to focus on biomass power generation, energy environmental protection, wind power generation, and comprehensive energy services as key growth areas[28]. - The company aims for a compound annual growth rate of 10% in combined heat and power (CHP) installed capacity over the next five years, expecting to exceed 800 million kilowatts by 2026[22]. - The company is actively expanding its energy service platform and enhancing operational efficiency through smart scheduling and refined management[29]. - The company is focusing on expanding its biomass power generation capabilities and enhancing energy efficiency through new technologies[44]. Environmental and Compliance - The total environmental protection investment for the first half of 2021 amounted to CNY 9.8959 million, covering various environmental expenses[63]. - The company has implemented pollution control measures, including low-nitrogen combustion technology and desulfurization systems, to reduce emissions of sulfur dioxide and nitrogen oxides[68][69]. - The company has achieved compliance with national pollution discharge standards, with all pollution control devices operating normally[63][68]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[67]. Risks and Challenges - The company faced risks including macroeconomic fluctuations, policy changes related to carbon emissions, and market risks affecting electricity supply and demand[49]. - The company anticipates challenges from rising coal prices and regulatory pressures on the energy sector, which may impact profitability[50]. Corporate Governance and Management - The company appointed Zheng Yi as the Chief Economist and Zou Xi as the Employee Director in January and June 2021, respectively, following the resignation of the previous Employee Director and Deputy General Manager, Zhong Xiaodong[55][56]. - The company is implementing a performance-based compensation system and exploring mixed ownership reforms to boost employee motivation and corporate vitality[33]. - The company has not proposed any profit distribution or capital reserve transfer plans for the first half of 2021, with no dividends or stock bonuses planned[57]. Financial Reporting and Compliance - The financial statements were approved by the board on August 24, 2021, ensuring compliance with accounting standards[137]. - The financial statements comply with the enterprise accounting standards, reflecting the company's financial position and operating results accurately[140]. - The company's accounting period runs from January 1 to December 31 each year[141].

Financial Performance - Operating revenue rose by 54.72% to CNY 956,087,664.73 year-on-year[7] - Net profit attributable to shareholders increased by 76.22% to CNY 44,243,241.08 compared to the same period last year[7] - The net profit after deducting non-recurring gains and losses surged by 660.06% to CNY 73,696,553.02[7] - Total revenue for Q1 2021 reached ¥956,087,664.73, a significant increase of 54.8% compared to ¥617,952,320.85 in Q1 2020[30] - The company reported a net profit of ¥66,151,074.28 for Q1 2021, compared to ¥39,914,620.62 in Q1 2020, showing a growth of 65.7%[30] - The net profit for Q1 2021 reached CNY 30,370,055.05, representing a growth of 30.5% from CNY 23,335,497.61 in the same period last year[35] - The total profit for Q1 2021 was CNY 29,334,202.79, compared to CNY 24,228,550.83 in Q1 2020, reflecting a year-over-year increase of 21.0%[34] Assets and Liabilities - Total assets increased by 11.33% to CNY 7,906,716,009.13 compared to the end of the previous year[7] - Total liabilities reached CNY 3,122,373,406.90, reflecting an increase of CNY 20,075,476.90[45] - Current liabilities totaled ¥2,829,395,138.24, an increase from ¥2,569,162,091.94 in the previous year[23] - Non-current assets increased to ¥3,431,721,675.74 from ¥3,355,408,853.20, reflecting a growth of 2.3%[27] - Total current assets were CNY 815,150,930.76, reflecting no change[48] - The company reported goodwill of CNY 9,555,999.43, remaining unchanged[44] Cash Flow - Cash flow from operating activities decreased by 31.00% to CNY 162,033,885.52 compared to the previous year[7] - The cash flow from operating activities for Q1 2021 was CNY 162,033,885.52, a decrease of 30.9% from CNY 234,829,241.67 in Q1 2020[37] - The company reported a net cash flow from financing activities of ¥645,634,343.15, a 16.98% increase from ¥551,916,960.91 year-on-year[17] - The cash inflow from operating activities totaled CNY 1,168,673,593.38 in Q1 2021, compared to CNY 800,148,646.55 in Q1 2020, reflecting a growth of 46.0%[37] - The company experienced a net cash outflow from investment activities of -42,052,874.00 RMB in Q1 2021, compared to -493,922,376.97 RMB in Q1 2020, showing improvement[40] Shareholder Information - The number of shareholders reached 45,866 at the end of the reporting period[10] - The total equity attributable to shareholders reached ¥3,572,268,718.42, compared to ¥3,525,331,542.83 in the previous year[23] - Shareholders' equity as of March 31, 2021, was ¥2,903,553,865.73, an increase from ¥2,870,410,109.09 at the end of 2020[28] Expenses - Financial expenses increased by 35.35% to ¥11,314,657.69, primarily due to higher interest expenses compared to ¥8,359,798.75 in the previous year[17] - The company's management expenses rose by 38.41% to ¥43,841,998.35, mainly due to increased employee compensation compared to ¥31,674,749.32 last year[17] - The company's financial expenses for Q1 2021 were CNY 6,828,639.66, up from CNY 4,713,258.27 in Q1 2020, indicating a rise of 44.8%[34] Research and Development - Research and development expenses amounted to ¥3,115,072.19, reflecting new investments in subsidiary R&D efforts[17] Other Information - The implementation of the new leasing standard did not apply to the company for the reporting period[50] - There were no adjustments made to prior comparative data due to the new leasing standard[50] - The audit report for the financial results is not applicable for this quarter[50] - The company did not provide any specific user data or metrics in this report[50] - Future outlook and performance guidance were not discussed in the conference call[50] - There were no mentions of new product or technology developments in this report[50] - Market expansion strategies were not highlighted in the financial results[50] - No mergers or acquisitions were reported during this quarter[50] - Other strategic initiatives were not detailed in the conference call[50]

Financial Performance - The net profit attributable to shareholders for 2020 was CNY 252,610,968.23, with the parent company achieving a net profit of CNY 163,213,024.62[4] - The company's operating revenue for 2020 was approximately RMB 4.41 billion, representing a year-on-year increase of 29.28% compared to RMB 3.41 billion in 2019[22] - The net profit attributable to shareholders for 2020 was approximately RMB 252.61 million, a 116.53% increase from RMB 116.66 million in 2019[22] - The basic earnings per share for 2020 was RMB 0.2361, up 113.28% from RMB 0.1107 in 2019[22] - The weighted average return on equity increased to 7.27% in 2020, up 3.74 percentage points from 3.53% in 2019[22] - The total profit for 2020 was 336.35 million yuan, representing a year-on-year increase of 74.08%[38] - The company reported a total of RMB 89.31 million in non-recurring gains and losses for 2020, compared to RMB 68.20 million in 2019[27] - The company’s net assets attributable to shareholders at the end of 2020 were approximately RMB 3.53 billion, an increase of 2.49% from RMB 3.44 billion at the end of 2019[22] Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.35 per 10 shares, amounting to a total of CNY 150,898,708.49, which represents 59.74% of the net profit attributable to shareholders for 2020[4] - The company reported a cash dividend of 1.35 RMB per 10 shares for 2020, with a payout ratio of 59.74% of net profit attributable to ordinary shareholders[95] Acquisitions and Investments - The company completed a cash acquisition of 100% equity in Ningneng Lingao Biomass Power Co., Ltd. from Kaitou Energy during the reporting period[23] - The company acquired 100% equity of Lingao Biomass, 35% equity of Wanhua Thermal Power, 35% equity of CNOOC Industrial Gas, and 10% equity of Guoneng Sanfa, enhancing investment returns and industry scale[40] - The company has completed the acquisition of 100% equity in Ningbo Thermal Power and other energy assets, enhancing its market position[99] Operational Highlights - The company produced 307.68 thousand tons of steam, a decrease of 12.52% year-on-year, while electricity production was 110,410.18 million kWh, an increase of 8.56%[38] - The company achieved a total electricity sales volume of 976 million kWh, representing a year-on-year increase of 10.90%[43] - The total power generation during the reporting period was 111,360.20 million kWh, with a year-on-year increase of 9.49%[69] - The efficiency of thermal power generation improved, with utilization hours increasing to 3185.67 hours from 2227.74 hours year-on-year[71] Financial Health and Risk Management - The company has maintained a standard unqualified audit opinion from Tianheng Accounting Firm[3] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[6] - The company faces macroeconomic fluctuations that could impact energy demand, particularly for steam and electricity[89] - The company has identified risks related to fluctuating raw material prices, which could impact profitability in the short term[90] - The company has maintained effective internal controls over credit management related to financing lease receivables[200] Environmental and Social Responsibility - The company emphasizes social responsibility and environmental protection, aiming for near-zero emissions in its operations[36] - Environmental compliance is being monitored, with emissions of sulfur dioxide and nitrogen oxides reported below regulatory limits, ensuring adherence to environmental standards[130] - The total environmental investment for the five production enterprises in 2020 amounted to 29.8521 million yuan[131] - The company has disclosed its social responsibility report, highlighting its commitment to community engagement and sustainable practices[129] Corporate Governance - The company has a strong governance structure with independent directors contributing to oversight and strategic direction[161] - The board of directors held a total of 15 meetings during the year, with 3 conducted in person and 12 via communication methods[178] - The company adheres to legal and regulatory requirements in its governance structure, ensuring clear responsibilities among shareholders, the board, and management[175] Employee and Management Structure - The total number of employees in the company and its main subsidiaries is 1,135, with 67 in the parent company and 968 in subsidiaries[169] - The company has implemented stock incentive plans for several executives, including a total of 522,500 CNY for Vice General Manager Zou Xi[160] - The company has established an annual target responsibility assessment mechanism for senior management, linking their annual salary to the company's asset status and profitability[181] Related Party Transactions - The total amount of related party transactions for the year is estimated at RMB 116,370,000, with actual transactions amounting to RMB 53,950,280, an increase from RMB 46,384,550 in the previous year, representing a growth of approximately 16.7%[108] - The company’s related party transactions accounted for a notable percentage of total transactions, with some transactions exceeding 10% of similar transaction amounts[109] Future Outlook - The company plans to complete and put into operation several projects in 2021, including the biomass project in Fengcheng and the thermal power project in Jingshi[40] - The company expects to add approximately 18 million kW of new power generation capacity in 2021, with non-fossil energy accounting for about 14 million kW[32] - The company aims to increase the share of non-fossil energy in total energy consumption to around 20% as part of the national energy strategy[85]

Financial Performance - Operating revenue for the first nine months rose by 35.37% to CNY 3,487,917,245.79 year-on-year[8] - Net profit attributable to shareholders increased by 38.97% to CNY 149,343,995.25 for the first nine months[8] - The company reported a significant increase of 169.07% in net profit after deducting non-recurring gains and losses, totaling CNY 124,911,008.19[8] - Basic earnings per share rose by 36.40% to CNY 0.1349[8] - Net profit from investment increased by 96.85% to CNY 124,362,878.08, up from CNY 63,174,906.56 year-on-year[15] - Net profit for the first three quarters of 2020 was ¥3,487,917,245.79, compared to ¥2,576,520,105.57 in the same period of 2019, showing strong growth[27] - Net profit attributable to shareholders for Q3 2020 was CNY 65,371,939.65, an increase from CNY 38,642,920.93 in Q3 2019, representing a growth of 69.1%[29] - Total profit for Q3 2020 was CNY 88,780,393.54, an increase from CNY 58,136,843.01 in Q3 2019, representing a growth of 52.8%[28] - Net profit for Q3 2020 reached CNY 64,796,646.77, up from CNY 9,920,771.27 in the same period last year, indicating a strong year-over-year growth[34] Asset and Equity Changes - Total assets increased by 5.44% to CNY 6,603,934,322.90 compared to the end of the previous year[8] - Total assets as of September 30, 2020, amounted to CNY 6,603,934,322.90, an increase from CNY 6,262,946,842.89 at the end of 2019[19] - Shareholders' equity totaled ¥3,903,730,727.66 as of September 30, 2020, up from ¥3,828,615,289.27 at the end of 2019, indicating a solid equity position[20] - The company’s retained earnings increased to ¥847,415,539.04 from ¥752,406,256.79 year-over-year, reflecting improved profitability[20] - The company holds long-term equity investments valued at CNY 1,711,927,873.26, indicating a significant investment strategy[48] Cash Flow and Financing Activities - Net cash flow from operating activities decreased by 18.04% to CNY 445,276,619.52 compared to the same period last year[8] - Cash flow from financing activities showed a net outflow of CNY -2,447,732.54, a significant improvement from CNY -530,381,105.98 in the previous year[15] - Cash inflow from investment activities for the first nine months of 2020 was CNY 1,878,025,595.14, compared to CNY 2,302,238,161.46 in 2019[38] - Cash outflow from investment activities totaled CNY 2,392,667,204.13 in the first nine months of 2020, compared to CNY 2,791,582,030.24 in 2019[38] - The ending cash and cash equivalents balance for Q3 2020 was CNY 605,859,134.49, down from CNY 917,703,999.63 at the end of Q3 2019[38] - The company reported a decrease in cash flow from operating activities due to increased payments for goods and services, totaling CNY 3,178,429,668.90 in 2020 compared to CNY 2,007,316,297.09 in 2019[37] Shareholder Information - The number of shareholders reached 36,070 by the end of the reporting period[11] - The top shareholder, Ningbo Development Investment Group Co., Ltd., holds 25.62% of the shares[11] Cost and Expense Management - Total operating costs for Q3 2020 were ¥2,220,843,294.73, up from ¥914,836,544.74 in Q3 2019, indicating rising expenses[27] - Interest expenses for Q3 2020 were CNY 9,787,274.76, down from CNY 11,802,784.76 in Q3 2019, a decrease of 17.0%[33] - The company’s employee compensation payable increased by 210.41% to CNY 36,255,565.68, reflecting a rise in employee numbers and accrued compensation[14] Inventory and Prepayments - Inventory decreased by 60.69% to CNY 88,918,763.59 from CNY 226,173,949.27, primarily due to reduced stock levels in the subsidiary's trading operations[14] - The company's prepayments surged by 505.73% to CNY 140,951,132.04, compared to CNY 23,269,518.38 in the previous year, mainly due to increased procurement payments by subsidiaries[14] Liabilities and Financial Obligations - Total liabilities as of September 30, 2020, were ¥2,700,203,595.24, compared to ¥2,434,331,553.62 at the end of 2019, reflecting an increase in financial obligations[20] - Total liabilities amounted to CNY 2,434,331,553.62, with non-current liabilities totaling CNY 898,275,377.30[45] - Short-term borrowings rose by 66.88% to CNY 1,402,507,227.49, compared to CNY 840,416,074.13 at the end of 2019[19]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,237,951,502.59, a decrease of 24.38% compared to CNY 1,637,087,917.74 in the same period last year[21]. - The net profit attributable to shareholders of the listed company increased by 22.02% to CNY 83,972,055.60, compared to CNY 68,820,713.88 in the previous year[21]. - The total profit amounted to CNY 116.05 million, an increase of 1.04% year-on-year[30]. - Net profit attributable to the parent company was CNY 83.97 million, reflecting a year-on-year increase of 22.02%[30]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was CNY 70.64 million, up 173.32% year-on-year[30]. - Basic earnings per share for the first half of 2020 was CNY 0.0762, representing a 20.38% increase from CNY 0.0633 in the same period last year[22]. - The company reported a significant decrease in financial expenses, totaling CNY 14,441,375.40, down 42.0% from CNY 24,948,742.20 in the first half of 2019[134]. - The company reported a total comprehensive income of 70,941,850 RMB for the current period, compared to 85,175,458 RMB in the previous year, indicating a decrease of about 16.7%[174]. Assets and Liabilities - The total assets of the company increased by 8.63% to CNY 6,803,671,784.12 from CNY 6,262,946,842.89 at the end of the previous year[21]. - The company’s net assets attributable to shareholders decreased by 1.12% to CNY 3,401,358,078.48 from CNY 3,439,837,240.13 at the end of the previous year[21]. - Total liabilities increased to CNY 2,980,759,074.66 from CNY 2,434,331,553.62, reflecting a growth of around 22.5%[128]. - The total liabilities at the end of the reporting period were CNY 3,772,864,400 RMB, which is an increase from 3,391,489,300 RMB in the previous year, indicating a rise in leverage[171]. Cash Flow - The company reported a net cash flow from operating activities of CNY 432,059,355.08, a slight increase of 0.60% from CNY 429,464,347.41 in the previous year[21]. - Cash flow from operating activities generated a net amount of CNY 432,059,355.08, slightly up from CNY 429,464,347.41 in the first half of 2019[142]. - Cash flow from investing activities showed a net outflow of CNY 461,323,287.29, compared to a net inflow of CNY 252,029,586.90 in the previous year[143]. - Cash inflow from financing activities reached CNY 896,682,768.00, up from CNY 200,000,000.00 in the same period last year[146]. Investments and Acquisitions - The company completed the cash acquisition of 100% equity in Ningbo Nenglin Biomass Power Generation Co., Ltd. from Ningbo Energy Group, which is under the same control as the company[21]. - The company completed the acquisition of 35% equity in Wanhua Thermal Power, 35% equity in CNOOC Industrial Gas, and 10% equity in Guodian Sanfa, significantly enhancing investment returns[31]. - The company confirmed an investment income of RMB 48,840,000 from its equity investments during the reporting period, with significant contributions from its stake in Guodian Zhejiang Beilun Third Power Generation Co., Ltd.[50]. Environmental Performance - Environmental protection investment for the first half of 2020 totaled 12.23 million, a decrease compared to the previous year due to extended production stoppages during the pandemic[80]. - The company operates various pollution control facilities, including dust removal and desulfurization systems, all of which are functioning normally[80]. - The company reported a total of 4.995 tons of sulfur dioxide emissions, which is below the standard limit of 35 mg/m³[78]. - Nitrogen oxide emissions were reported at 20.39 tons, also below the standard limit of 50 mg/m³[78]. Shareholder Information - The top two shareholders, Ningbo Development Investment Group Co., Ltd. and Ningbo Energy Group Co., Ltd., hold 25.62% and 25.27% of shares respectively, with significant portions being restricted[94]. - The company has not distributed any dividends or bonus shares for the reporting period[56]. - The company completed the election of its board of directors and management team during the reporting period[104]. Future Outlook - The company plans to expand its market presence by launching new products and enhancing its technology development initiatives in the upcoming quarters[158]. - The company has set a performance guidance for the next quarter, expecting a revenue growth of approximately 15%[158]. - The company is exploring potential mergers and acquisitions to enhance its market position and diversify its product offerings[158]. Accounting and Compliance - The financial statements were prepared based on the assumption of going concern, indicating management's confidence in the company's ability to continue operations for at least 12 months from the approval date[180]. - The company adheres to the relevant accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[182]. - The company has specific accounting policies for various transactions, including provisions for bad debts and depreciation of fixed assets[181].

Financial Performance - Net profit attributable to shareholders decreased by 42.46% to CNY 24,488,391.85 year-on-year[6] - Operating revenue fell by 33.45% to CNY 617,952,320.85 compared to the same period last year[6] - Basic earnings per share decreased by 46.04% to CNY 0.0225[6] - The weighted average return on equity decreased by 0.65 percentage points to 0.74%[6] - The company's operating revenue for Q1 2020 was CNY 617,952,320.85, a decrease of 33.45% compared to CNY 928,510,023.86 in the same period last year, primarily due to the impact of the pandemic on product trade and steam revenue[17] - The profit attributable to shareholders of the parent company for Q1 2020 was ¥24,488,391.85, down 42.5% from ¥42,557,788.99 in Q1 2019[32] - The total profit for Q1 2020 was ¥41,365,611.55, down 37.4% from ¥66,102,398.65 in Q1 2019[32] - The company incurred a financial expense of ¥9,589,137.82 in Q1 2020, a slight decrease from ¥10,620,362.11 in Q1 2019[31] - The company reported a comprehensive income total of ¥34,343,864.64 for Q1 2020, down 26.7% from ¥46,907,230.21 in Q1 2019[32] Cash Flow - Net cash flow from operating activities increased by 245.65% to CNY 235,424,039.90 year-to-date[6] - The net cash flow from operating activities increased significantly to CNY 235,424,039.90 in Q1 2020, compared to CNY 68,109,838.32 in Q1 2019, marking a growth of 245.5%[38] - The company reported a net cash outflow from investing activities of CNY -612,526,420.70 in Q1 2020, a decline from a net inflow of CNY 299,936,763.60 in Q1 2019[39] - Cash inflow from financing activities was CNY 1,023,663,768.00 in Q1 2020, compared to CNY 647,627,800.00 in Q1 2019, representing an increase of 58%[39] - The net cash flow from financing activities improved to CNY 551,916,960.91 in Q1 2020, reversing from a net outflow of CNY -385,559,164.60 in Q1 2019[39] - The parent company's net cash flow from operating activities decreased to CNY 76,774,495.59 in Q1 2020, down from CNY 520,840,412.02 in Q1 2019, a decline of 85.3%[41] - The parent company reported a net cash outflow from investing activities of CNY -493,922,376.97 in Q1 2020, compared to a net inflow of CNY 352,071,845.98 in Q1 2019[42] Assets and Liabilities - Total assets increased by 10.08% to CNY 6,760,007,094.79 compared to the end of the previous year[6] - The company's total current assets as of March 31, 2020, amounted to CNY 2,284,672,198.48, a decrease from CNY 2,601,397,622.44 at the end of 2019[21] - Total current assets decreased to ¥1,355,996,925.70 from ¥1,740,687,748.05, representing a decline of approximately 22.1%[27] - Total liabilities reached ¥2,960,525,905.18, compared to ¥2,433,708,363.15 in the previous quarter, marking an increase of 21.5%[24] - Current liabilities rose to ¥2,102,724,878.75, up from ¥1,535,432,985.85, indicating a 36.9% increase[23] - Total liabilities amount to 1,068,267,928.99, with current liabilities at 822,776,089.65[50] - Non-current liabilities total 245,491,839.34, including long-term borrowings of 240,000,000.00[50] Investments - Long-term equity investments rose significantly by 443.80% to CNY 1,055,323,714.31 from CNY 194,063,329.96, mainly due to the acquisition of minority stakes accounted for using the equity method[21] - The company recognized investment income of CNY 57,858,571.26, an increase of 123.67% compared to CNY 25,867,749.41 in the previous year, due to higher investment returns from long-term equity investments[17] - The company completed the acquisition of a 35% stake in WanHua Thermal Power and a 10% stake in Guodian Sanfa in March 2020, confirming an investment income of CNY 16,713,000 for the month[18] Shareholder Information - The total number of shareholders reached 38,546 by the end of the reporting period[10] - The largest shareholder, Ningbo Development Investment Group Co., Ltd., holds 26.35% of the shares[10] Other Financial Metrics - The company received government subsidies amounting to CNY 3,781,283.61 during the reporting period[7] - Other income for Q1 2020 was ¥5,159,137.52, an increase of 132.5% from ¥2,221,811.51 in Q1 2019[31] - The company has not disclosed any new product or technology developments in this report[6]

Financial Performance - The net profit attributable to shareholders for 2019 was CNY 119,154,611.02, with the parent company achieving a net profit of CNY 94,729,413.44[5] - The company reported an unallocated profit of CNY 120,173,207.46 at the beginning of the year[5] - The net profit attributable to shareholders decreased by 45.88% to CNY 119.15 million in 2019 from CNY 220.18 million in 2018[23] - The basic earnings per share (EPS) for 2019 was CNY 0.1131, down 47.59% from CNY 0.2158 in 2018[22] - The weighted average return on equity (ROE) decreased to 3.75% in 2019 from 7.39% in 2018, a decline of 3.64 percentage points[22] - The company’s net assets attributable to shareholders increased by 9.17% to CNY 3.32 billion at the end of 2019 from CNY 3.04 billion at the end of 2018[22] - The company’s operating revenue for 2019 was approximately CNY 3.41 billion, representing a year-on-year increase of 30.61% compared to CNY 2.61 billion in 2018[22] - The company achieved operating revenue of 3.41 billion yuan, a year-on-year increase of 30.61%[39] - The total profit reached 196 million yuan, with a net profit attributable to shareholders of 119 million yuan[34] Dividends and Profit Distribution - The company distributed a total of CNY 54,334,775.55 in dividends, which corresponds to a cash dividend of CNY 0.50 per 10 shares, accounting for 45.60% of the net profit attributable to the parent company[5] - The total distributable profit at the end of the year was CNY 156,132,299.56 after accounting for the legal reserve and dividends[5] - The company extracted 10% of the net profit as statutory reserve, amounting to CNY 9,472,941.34[5] - The company has implemented a cash dividend policy in accordance with regulatory requirements, ensuring the protection of minority shareholders' rights[76] Asset Restructuring and Acquisitions - The company completed a major asset restructuring, acquiring 100% stakes in several companies for a total transaction price of CNY 1.14 billion[31] - The company completed significant asset restructuring, acquiring 100% stakes in Mingzhou Thermal Power and Ningbo Thermal Power for a total transaction price of 113,957.35 million RMB[60] - The company completed the acquisition of 51.49% of Xikou Pumped Storage and 100% of other companies through the issuance of shares[135] - The company plans to acquire 35% equity in Wanhua Thermal Power, 35% equity in CNOOC Industrial Gas, and 10% equity in Guodian Sanfa, as approved by the board and shareholders[82] Cash Flow and Financial Management - The company reported a net cash flow from operating activities of CNY 382.98 million, an increase of 72.88% compared to CNY 221.53 million in 2018[22] - The net cash flow from operating activities increased by 161.45 million yuan, mainly due to higher sales receipts and reduced payments[46] - The net cash flow from investing activities increased by 52.80 million yuan, attributed to decreased cash payments for fixed assets and other long-term assets[46] - The net cash flow from financing activities decreased by 990.02 million yuan, primarily due to significant repayments of bank loans[46] - The company's cash and cash equivalents decreased by 45.74% to 714.35 million yuan, mainly due to bank loan repayments[49] - Long-term borrowings increased by 346.70% to 506.78 million yuan, reflecting an increase in long-term bank loans[50] Operational Efficiency and Projects - The company initiated a special action for efficiency improvement, resulting in a historical high of 180 million kWh of electricity generated from the Xikou energy storage project[34] - The company is expanding its heat and power projects outside the province, including biomass power generation in Fengcheng and combined heat and power projects in Anhui and Hunan[34] - The efficiency of thermal power generation improved, with utilization hours increasing to 2,227.74 hours compared to 2,163.93 hours in the previous year[58] - The company is focusing on renewable energy development, with ongoing investments in biomass and photovoltaic projects[52] Environmental and Social Responsibility - The total environmental investment for the five production enterprises in 2019 was CNY 30.8243 million, an increase of CNY 1.0741 million compared to the previous year, primarily for the addition and renovation of environmental protection equipment at power plants[121] - The company reported a total emission of 40.52 tons/year for dust, with a concentration of 0.67 mg/m³, which is below the standard of <5 mg/m³[120] - The sulfur dioxide emissions were recorded at 14.82 tons/year, with a concentration of 10.25 mg/m³, significantly below the limit of <35 mg/m³[120] - Nitrogen oxides emissions amounted to 51.86 tons/year, with a concentration of 35.96 mg/m³, also below the regulatory limit of <50 mg/m³[120] Corporate Governance and Compliance - The audit report for the financial statements was issued by Tianheng Accounting Firm with a standard unqualified opinion[4] - The company has no major litigation or arbitration matters during the reporting period[86] - The company has no issues with the integrity of its controlling shareholders or actual controllers, with no significant debts due that remain unpaid[86] - The company has not faced any risks of suspension or termination of listing during the reporting period[86] - The company has not made any changes to accounting policies or estimates that would significantly impact its financial statements[84] Employee and Management Structure - The total number of employees in the parent company is 57, while the main subsidiaries employ 925, resulting in a total of 982 employees[158] - The professional composition includes 509 production personnel, 41 sales personnel, 162 technical personnel, 53 financial personnel, and 217 administrative personnel[159] - The management team has undergone changes, with Gu Jianbo resigning as general manager and Ma Yifei appointed as the new general manager[157] - The company has a diverse management team with experience in various sectors, including energy and finance[151] Financial Instruments and Investments - The company is focusing on expanding its investment in money and bond markets, indicating a strategic shift towards more stable financial instruments[113] - The company plans to continue its fundraising efforts in the interbank market, targeting a diverse range of financial products[113] - The company has successfully managed to maintain a high level of investor confidence, as evidenced by the repeated successful fundraising rounds[113] - The company aims to leverage its strong market position to expand its operations and increase market share in the financial sector[113]

Financial Performance - Operating revenue for the first nine months reached CNY 2,576,520,105.57, representing a growth of 35.63% year-on-year[7]. - Net profit attributable to shareholders of the listed company decreased by 36.20% to CNY 110,261,462.32[7]. - The company’s basic earnings per share decreased by 36.16% to CNY 0.1015[7]. - Total operating revenue for Q3 2019 reached ¥939,432,187.83, an increase from ¥660,978,420.42 in Q3 2018, representing a growth of approximately 42.1%[27]. - Net profit for the first three quarters of 2019 was ¥165,972,057.01, compared to ¥120,173,207.46 in the same period of 2018, reflecting a growth of approximately 38.2%[24]. - The total comprehensive income for Q3 2019 was CNY 44,701,374.71, an increase from CNY 33,450,439.11 in Q3 2018, indicating a growth of about 33.5%[29]. - The total profit for Q3 2019 was CNY 57,526,679.98, compared to CNY 75,810,672.94 in Q3 2018, representing a decline of about 24%[28]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,314,611,121.80, a decrease of 1.89% compared to the end of the previous year[7]. - The company reported a total asset value of ¥6,435,954,565.45[46]. - Total liabilities amounted to ¥3,013,087,048.91, with non-current liabilities totaling ¥645,314,580.29[46]. - The total current liabilities were ¥973,978,266.98, with accounts payable at ¥2,811,375.62[49]. - The company’s total non-current assets were valued at ¥1,268,188,478.03[48]. - The company’s total equity attributable to shareholders was ¥3,039,914,854.29[46]. Cash Flow - Net cash flow from operating activities increased significantly by 243.46% to CNY 545,303,260.36[7]. - Cash flow from financing activities showed a net outflow of CNY -530,381,105.98, compared to a smaller outflow of CNY -37,026,146.44 in the same period last year[38]. - Cash received from operating activities totaled CNY 1.38 billion in 2019, slightly up from CNY 1.36 billion in 2018[41]. - Cash flow from financing activities showed a net outflow of CNY 706.63 million in 2019, compared to a net outflow of CNY 140.39 million in 2018[42]. Investments - The company reported a significant increase in long-term equity investments by 5853.58% to CNY 193,841,916.59 due to the acquisition of a 40% stake in Jiufeng Thermal Power[11]. - Investment income fell by 56.56% to CNY 63,174,906.56 from CNY 145,434,020.88, primarily due to the sale of available-for-sale financial assets last year[14]. - The company’s other non-current assets increased by 54.65% to CNY 192,671,291.86 from CNY 124,588,307.99, mainly due to the establishment of an industrial fund with other partners[19]. Shareholder Information - The number of shareholders at the end of the reporting period was 40,108[9]. - Net profit attributable to shareholders of the parent company for Q3 2019 was CNY 38,205,479.28, compared to CNY 49,211,808.88 in Q3 2018, a decline of approximately 22.5%[29]. Costs and Expenses - Operating costs rose by 42.00% to CNY 2,245,415,225.10, up from CNY 1,581,331,831.68, primarily due to higher merchandise trade costs[14]. - The company incurred total operating expenses of CNY 2,420,728,430.63 in the first nine months of 2019, compared to CNY 2,051,298,618.90 in the previous year, representing an increase of about 18%[37]. - The company reported a 155.71% increase in employee compensation payable, reaching CNY 29,259,019.40, compared to CNY 11,442,320.15 in the previous year[19].

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,637,087,917.74, representing a 32.16% increase compared to CNY 1,238,736,327.98 in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 41.71% to CNY 72,055,983.04 from CNY 123,610,760.02 in the previous year[19]. - The net cash flow from operating activities increased by 38.84% to CNY 430,805,482.48, compared to CNY 310,280,333.05 in the same period last year[19]. - The basic earnings per share for the first half of 2019 was CNY 0.0663, down 41.69% from CNY 0.1137 in the same period last year[20]. - The company reported a 38.96% increase in the basic earnings per share after deducting non-recurring gains and losses, reaching CNY 0.0346 compared to CNY 0.0249 in the previous year[20]. - The company achieved operating revenue of 1.637 billion yuan, an increase of 32.16% compared to the previous year[32]. - The net profit attributable to the parent company was 72.06 million yuan, reflecting a solid performance during the reporting period[29]. - The company reported a total investment income of -¥69,889.65 from stock investments and ¥6,040,557.69 from convertible bonds during the reporting period[47]. - The company reported a net investment income of ¥47,419,355.50 for the first half of 2019, down from ¥113,494,876.67 in the same period of 2018[131]. - The company reported a total of CNY 129,807.79 in other comprehensive income for the first half of 2019, contrasting with a loss of CNY 35,095,268.53 in the same period of 2018[132]. Asset Management - The net assets attributable to shareholders of the listed company increased by 7.60% to CNY 3,270,982,971.18 from CNY 3,039,914,854.29 at the end of the previous year[19]. - Total assets decreased by 0.95% to CNY 6,374,814,458.76 from CNY 6,435,954,565.45 at the end of the previous year[19]. - The company's total assets decreased by 63.47% in other current assets to ¥433,391,884.24, primarily due to the first-time implementation of new financial instrument standards[37]. - The total assets as of June 30, 2019, were CNY 6,374,814,458.76, a slight decrease from CNY 6,435,954,565.45 at the end of 2018[124]. - The total liabilities decreased to CNY 2,722,456,453.24 from CNY 3,013,087,048.91, reflecting a reduction of 9.6%[124]. - The company's total equity increased to CNY 3,652,358,005.52, up from CNY 3,422,867,516.54, indicating a growth of 6.7%[124]. - The total current assets amounted to CNY 2,995,863,428.70, a decrease of 10.5% from CNY 3,346,894,098.23 at the end of 2018[122]. - The company's total equity attributable to the parent company at the end of the previous year was approximately 2.84 billion[147]. - The total owner's equity at the end of the current period was CNY 3,299,304,481, representing an increase from the previous period[154]. Investment Activities - The company completed a significant asset restructuring by acquiring 100% of the equity of Mingzhou Thermal Power, 100% of Ningbo Thermal Power, 98.93% of Kofeng Thermal Power, 100% of Ningdian Shipping, and 51.49% of Xikou Hydropower[20]. - The company completed a major asset restructuring, acquiring 100% stakes in Mingzhou Thermal Power and Ningbo Thermal Power, with a total transaction price of 1.139 billion yuan[26]. - The company's long-term equity investments increased significantly by 5,698.72% to ¥188,799,902.82, primarily due to the acquisition of a 40% stake in Jiufeng Thermal Power[37]. - The company has a total credit line of RMB 4.284 billion, with RMB 1.753 billion utilized as of the reporting date[114]. - The company has issued bonds with a total balance of 186,778,000 RMB, with an interest rate of 5.60%[103]. - The company has fully utilized the net proceeds of 296,400,000 RMB from its bond issuance for repaying bank loans and supplementing working capital[104]. Operational Efficiency - The company is enhancing its internal control systems and information technology platforms to improve operational efficiency[30]. - The company's management expenses increased by 34.83% due to restructuring-related consulting and audit fees[33]. - The company has committed to notifying Ningbo Thermal of any new investment opportunities related to heat source points and pipeline construction, ensuring priority selection for Ningbo Thermal[59]. - The company has engaged in steam procurement transactions with related parties, with the largest transaction being 15,000,000 RMB for steam procurement from Guodian Zhejiang Beilun Third Power Plant[62]. - The company has established pollution prevention facilities, including flue gas desulfurization and denitrification systems, all of which are operating normally[78]. Risk Factors - The company has indicated potential risks that may adversely affect its future development strategy and operational goals, detailed in the "Discussion and Analysis of Operating Conditions" section[6]. - The company faces macroeconomic risks that could impact steam and electricity demand, potentially affecting production operations[54]. - Regulatory risks related to electricity pricing reforms and environmental compliance costs are anticipated to influence operational efficiency[54]. - Market risks from the supply-demand relationship in the East China power grid may affect the company's electricity sales[54]. - The company is actively monitoring energy price fluctuations, as they significantly impact production costs and profitability[54]. Environmental Compliance - The company reported a nitrogen oxide emission level of 34.86 mg/m³, which is below the regulatory limit of 50 mg/m³[76]. - The sulfur dioxide emission level was recorded at 9.453 mg/m³, significantly lower than the limit of 35 mg/m³[76]. - The company has implemented low nitrogen combustion technology, achieving nitrogen oxide emissions of 22.77 mg/m³, under the 50 mg/m³ threshold[76]. - The company has developed an emergency response plan for environmental incidents, which has been filed with the local environmental protection bureau[79]. - The company has obtained pollution discharge permits and is publicly disclosing environmental information as required[81]. Shareholder Information - The top shareholder, Ningbo Development Investment Group, holds 286,375,377 shares, representing 26.35% of total shares[92]. - Ningbo Energy Group holds 282,484,731 shares, accounting for 25.99% of total shares[92]. - The largest shareholder, Ningbo Development Investment Group, increased its holdings by 57,280,780 shares during the reporting period[92]. - The company has a total of 57,280,780 restricted shares that will become tradable on June 26, 2022, as per the asset purchase agreement[95]. - The company has not proposed any profit distribution or capital reserve transfer for the half-year period[57]. Financial Health - The company successfully repaid 100% of its loans during the reporting period, with no overdue debts or repayment issues[117]. - The company's credit rating remains stable, with a rating of AA for the issuer and AA+ for the bonds as of April 15, 2019[105]. - The company has maintained a good credit status, with no significant debts or court judgments pending against it[60]. - The company has a total guarantee amount of RMB 312.08 million, which accounts for 8.54% of the company's net assets[74]. - The company has a total of RMB 25.11 million in guarantees provided to subsidiaries during the reporting period[73].