Financial Performance - The company's operating revenue for the first half of 2022 was approximately CNY 3.45 billion, an increase of 8.61% compared to the same period last year[17]. - The net profit attributable to shareholders of the listed company was approximately CNY 935.68 million, a decrease of 11.27% year-on-year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately CNY 845.86 million, an increase of 9.35% compared to the previous year[17]. - The net cash flow from operating activities was approximately CNY 985.04 million, up 18.20% from the same period last year[17]. - The total assets at the end of the reporting period were approximately CNY 28.83 billion, a decrease of 1.41% compared to the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were approximately CNY 16.11 billion, down 1.99% from the previous year[17]. - Basic earnings per share for the first half of 2022 were CNY 0.19, a decrease of 13.64% year-on-year[18]. - The weighted average return on net assets was 5.68%, a decrease of 1.04 percentage points compared to the same period last year[18]. - The company achieved operating revenue of CNY 3.45 billion, an increase of 8.61% year-on-year[33]. - Net profit attributable to shareholders was CNY 936 million, a decrease of 11.27% year-on-year, primarily due to the absence of asset transfer impacts from the previous year[33]. Market Position and Operations - The company holds approximately 54% of the tap water market and about 83% of the sewage treatment market in Chongqing's main urban area as of the end of 2021[24]. - The company is positioned to benefit from the increasing emphasis on ecological civilization and environmental protection policies in the water industry[23]. - The company is expanding its market presence in urban and rural integrated water supply and wastewater resource utilization[23]. - The company plans to expand its market presence beyond Chongqing to provinces such as Sichuan, Yunnan, Hubei, and Henan, aiming to become a leading comprehensive water service provider in China[24]. - The company is focusing on the growth of the domestic recycled water operation market, which is expected to experience rapid development[24]. Revenue Streams - Water supply revenue reached 82,929.53 million RMB, a year-on-year increase of 2.73%, while sewage treatment revenue was 206,725.80 million RMB, up 12.62% year-on-year[24]. - The average water price for residential use is 2.5410 RMB/m³, while for non-residential use it is 3.2606 RMB/m³[26]. - The wastewater treatment service price in Chongqing is set at 2.98 CNY/m³, with adjustments made every three years by the Chongqing Municipal Finance Bureau[28]. Investments and Acquisitions - The company established a joint venture with Changjiang Environmental Group with a registered capital of ¥1 billion, holding a 60% stake[38]. - The company invested ¥89 million in its subsidiary Anning City Yuning Water Co., Ltd. during the reporting period[38]. - The company completed the asset transfer for the acquisition of water supply projects, with a total payment of 536 million yuan made as per the agreement[70]. - The company acquired assets from Chongqing Nancheng Water Co., Ltd. for CNY 85.0147 million, including a water plant with a designed capacity of 50,000 m³/day[77]. Environmental and Regulatory Compliance - The company is committed to complying with environmental laws and regulations, enhancing operational management, and improving emergency response capabilities to mitigate environmental risks[43]. - The company has established a comprehensive water quality monitoring system with over 300 detection capabilities, ensuring the safety and quality of water supply and sewage discharge[52]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[55]. - The company is actively participating in projects related to the Yangtze River protection and integrated urban-rural water supply, aiming to expand its business scope and enhance capacity[43]. Financial Stability and Risks - The company maintained a debt-to-asset ratio of 43.83%, an increase of 0.26 percentage points from the end of the previous year[33]. - The company faces risks related to raw material supply, water price adjustments, and compliance with water quality standards, which may impact operational costs and profitability[42]. - The company is required to cover reasonable costs including taxes and fees in its wastewater treatment pricing[30]. - The company has implemented measures to strengthen risk control and management to avoid potential tax risks related to VAT policies[43]. Corporate Governance and Shareholding - The largest shareholder, Chongqing Derun Environment Co., Ltd., holds 50.04% of the shares, totaling 2,401,800,000 shares[81]. - Chongqing Water Environment Holdings Group Co., Ltd. is the second-largest shareholder with 38.52%, holding 1,849,160,689 shares[81]. - The company has committed to avoiding competition with its controlling shareholder, ensuring no direct or indirect engagement in competing businesses[60]. - The company has pledged to maintain an independent procurement, production, and sales system to protect its operational integrity[61]. Research and Development - The company’s R&D expenses were CNY 808,458, a decrease of 11.40% year-on-year[34]. - The company is focusing on digital transformation and technology innovation, including the development of "smart water services" using big data and cloud computing[32]. - The integration of new technologies such as IoT, big data, and cloud computing is driving the development of smart water services[24]. Accounting and Financial Reporting - The company adheres to the Chinese accounting standards, ensuring accurate financial reporting[136]. - The company’s financial statements are prepared based on the going concern principle, ensuring operational continuity for at least 12 months[134]. - The company does not have any changes in significant accounting policies or estimates during the reporting period[196].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,617,545,850.64, representing a year-on-year increase of 10.85%[4] - The net profit attributable to shareholders for Q1 2022 was CNY 386,447,223.24, showing a decrease of 32.03% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 353,933,290.18, which increased by 5.91% year-on-year[4] - Basic earnings per share for Q1 2022 were CNY 0.08, down 33.33% year-on-year[5] - The diluted earnings per share were also CNY 0.08, representing a decrease of 33.33% compared to the same period last year[5] - Total operating revenue for Q1 2022 was ¥1,617,545,850.64, an increase of 10.87% compared to ¥1,459,166,739.08 in Q1 2021[19] - Net profit for Q1 2022 was ¥387,231,057.70, a decrease of 32.03% from ¥568,960,595.13 in Q1 2021[20] - Basic earnings per share for Q1 2022 was ¥0.08, down from ¥0.12 in Q1 2021[21] - Total comprehensive income for Q1 2022 was ¥399,826,684.03, down from ¥539,271,557.98 in Q1 2021[21] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 432,088,280.68, reflecting an increase of 8.56% compared to the previous year[4] - The net cash flow from operating activities was $432,088,280.68, an increase of 8.5% compared to $398,015,702.87 in the previous period[23] - Cash inflow from operating activities in Q1 2022 was ¥1,916,065,794.98, compared to ¥1,865,179,718.19 in Q1 2021, reflecting a growth of 2.74%[22] - The company reported cash and cash equivalents of RMB 3,063.698 million, up from RMB 2,664.260 million at the end of 2021, indicating improved liquidity[15] - The ending balance of cash and cash equivalents was $3,034,624,785.98, compared to $2,977,840,548.19 at the end of the previous period[24] - Cash inflow from investment activities was $507,583,805.32, a substantial increase from $204,306,880.62[23] - Cash outflow for the acquisition of fixed assets, intangible assets, and other long-term assets was $556,545,366.84, down from $1,357,711,143.02[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 29,353,334,651.60, an increase of 0.37% from the end of the previous year[5] - As of March 31, 2022, the company's total current assets amounted to RMB 6,002.585 million, a slight decrease from RMB 6,047.406 million at the end of 2021[16] - The company's total non-current assets increased to RMB 23,350.749 million from RMB 23,197.384 million at the end of 2021[16] - Total liabilities decreased to RMB 12,442.138 million from RMB 12,741.062 million at the end of 2021, indicating improved financial stability[17] - The company's total equity increased to RMB 16,911.196 million from RMB 16,503.728 million at the end of 2021, reflecting growth in shareholder value[17] Investments and Acquisitions - The company increased its investment in Zhongzhou Water Holdings by contributing RMB 125.6526 million to maintain a 20% equity stake after the registered capital was raised from RMB 1 billion to RMB 1.5 billion[13] - The company acquired assets from Chongqing Nancheng Water Co., Ltd. for RMB 85.0147 million, expanding its water supply services in several districts with a designed capacity of 50,000 cubic meters per day[14] - The company established a drainage network company with Yangtze Ecological Environmental Group, investing RMB 1 billion, holding a 60% stake, and has contributed RMB 6 million as of the reporting date[14] Operational Efficiency - Accounts receivable decreased significantly to RMB 326.048 million from RMB 1,197.158 million, suggesting improved collection efficiency[15] - The cash flow from operating activities showed a positive trend, indicating improved operational efficiency[23] - Research and development expenses for Q1 2022 were ¥393,977.31, an increase from ¥322,337.29 in Q1 2021[19] - Other income for Q1 2022 was ¥22,080,756.44, compared to ¥18,334,635.76 in Q1 2021, indicating a growth of 20.06%[19] - The company reported a decrease in investment income to ¥29,031,698.02 in Q1 2022 from ¥39,569,534.06 in Q1 2021[19] - The company’s tax expenses for Q1 2022 were ¥71,302,288.42, compared to ¥88,894,278.22 in Q1 2021, a decrease of 19.73%[20]

Financial Performance - The company's operating revenue for 2021 was CNY 7,252,254,088.48, representing a 14.22% increase compared to CNY 6,349,599,844.62 in 2020[17]. - Net profit attributable to shareholders was CNY 2,077,554,122.67, up 17.13% from CNY 1,773,730,161.83 in the previous year[17]. - The net cash flow from operating activities increased by 18.83% to CNY 2,734,704,901.94 from CNY 2,301,313,982.25 in 2020[17]. - Basic earnings per share rose to CNY 0.43, a 16.22% increase from CNY 0.37 in 2020[18]. - The weighted average return on equity increased to 13.15%, up 1.58 percentage points from 11.57% in 2020[18]. - The total assets at the end of 2021 were CNY 29,244,789,287.61, reflecting a 19.20% increase from CNY 24,534,292,342.35 in 2020[17]. - The company reported a quarterly revenue of CNY 2,134,490,026.21 in Q3 2021, the highest among the four quarters[20]. - The company achieved a total revenue of 7.252 billion yuan, an increase of 14.22% year-on-year, and a net profit of 2.078 billion yuan, up 17.13% year-on-year[26]. - The company's total assets reached 29.245 billion yuan, a 19.20% increase from the previous year, while net assets (excluding minority interests) rose by 5.87% to 16.434 billion yuan[26]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 123.36 million, which is RMB 2.57 per 10 shares based on a total share capital of 4.8 billion shares as of December 31, 2021[4]. - The company has not proposed any bonus shares or capital reserve transfers in the profit distribution plan[4]. - The company has a cash dividend policy that mandates distributing no less than 60% of the distributable profits to shareholders[110]. Audit and Compliance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm[3]. - The company emphasizes the importance of the accuracy and completeness of the financial report, with key personnel affirming its integrity[3]. - The company has maintained strict compliance with information disclosure regulations, ensuring no false records or significant omissions occurred during the reporting period[1]. - The internal control audit report issued by Tianzhi International Accounting Firm provided a standard unqualified opinion[114]. - The company has not reported any significant deficiencies in internal controls during the reporting period[113]. Environmental and Social Responsibility - The company reduced COD emissions by approximately 317,100 tons and ammonia nitrogen by about 30,800 tons, demonstrating its commitment to environmental responsibility[27]. - The company actively participated in social responsibility initiatives, including donating 28 tons of drinking water to flood-affected areas and supporting rural revitalization efforts with financial contributions[27]. - The company has established a comprehensive environmental self-monitoring plan, regularly monitoring wastewater, odor, and noise[121]. - The company has received no administrative penalties for environmental issues during the reporting period[123]. Market Position and Expansion - The company holds approximately 54% of the tap water market and about 83% of the sewage treatment market in the main urban area of Chongqing[29]. - The company aims to expand its water service operations to provinces such as Sichuan, Yunnan, Hubei, and Henan, targeting a comprehensive service provider status in the domestic water industry[29]. - The company is positioned to leverage the increasing market demand and regulatory support for environmental protection and sewage treatment services[30]. - The company is actively involved in multiple water investment projects across various cities, showcasing its market expansion strategy[90]. Research and Development - The company launched 39 new research and innovation projects and implemented 16 research topics, focusing on technological advancements and digital transformation[27]. - The company is focusing on digital transformation and technology innovation, implementing a "smart water" initiative using big data and cloud computing[32]. - The company reported a total R&D investment of ¥565.58 million, accounting for 0.08% of total revenue, with 43.97% of the R&D costs capitalized[47]. Governance and Management - The company’s board of directors consists of 7 members, including 3 independent directors, and all directors fulfilled their duties diligently without any absences[1]. - The supervisory board comprises 5 members, including 2 employee representatives, and has conducted regular meetings to oversee the company's operations and financial compliance[1]. - The company has established a performance evaluation mechanism for senior management, focusing on performance contributions and market benchmarks[112]. - The company has implemented a performance assessment system for determining annual remuneration based on operational performance and major shareholder opinions[93]. Financial Stability and Risk Management - The company’s asset-liability ratio was 43.57%, an increase of 7.12 percentage points from the previous year, primarily due to the issuance of 1 billion yuan in corporate bonds and increased bank loans[26]. - The company has maintained a focus on financial stability and risk management in its investment strategies[167]. - The company has provided guarantees totaling RMB 22,921.87 million, including those to subsidiaries, with RMB 14,139.78 million in guarantees to subsidiaries during the reporting period[162]. Legal and Regulatory Matters - The company has ongoing significant litigation related to a construction contract dispute, with a claim amounting to CNY 33,500,000[145]. - The arbitration process for the construction contract dispute has involved multiple hearings and evidence submissions, with the latest hearing occurring in October 2021[146]. - The company maintains a good integrity status, with no significant debts or court judgments outstanding during the reporting period[148]. Strategic Acquisitions and Investments - The company has established a joint venture, Chongqing Quality Water Supply Co., Ltd., with a total investment of 10,000,000 CNY, where the company holds a 49% stake[157]. - The company has invested RMB 10 billion to establish a drainage network company with Changjiang Ecological Environmental Group, holding 40% of the shares[169]. - The company has completed the acquisition of sewage treatment assets for RMB 10,376.06 million in Qianjiang District[168].

Financial Performance - The company's operating revenue for Q3 2021 reached ¥2,134,490,026.21, representing a 16.04% increase compared to ¥1,839,410,738.81 in the same period last year[4] - Net profit attributable to shareholders was ¥939,574,451.35, a 32.92% increase from ¥714,085,929.52 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥923,084,249.14, reflecting a 34.81% increase compared to ¥691,919,269.54 in the previous year[4] - The basic earnings per share for the current period was ¥0.20, up 32.71% from ¥0.15 in the same period last year[4] - Net profit for the third quarter reached ¥1,995,347,555.88, a significant rise from ¥1,487,019,327.77, reflecting an increase of approximately 34.1%[23] - Operating profit was reported at ¥2,329,356,145.03, compared to ¥1,709,867,100.34, marking an increase of around 36.3%[23] - Total comprehensive income attributable to the parent company reached CNY 1,840,318,188.52, an increase from CNY 1,324,864,893.48 in the same period last year, representing a growth of approximately 39%[24] - Basic and diluted earnings per share increased to CNY 0.42 from CNY 0.31, reflecting a growth of 35.5% year-over-year[24] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥28,555,056,084.97, a 16.39% increase from ¥24,534,292,342.35 at the end of the previous year[5] - The company's total liabilities amounted to ¥5,601,508,202.25, up from ¥4,158,881,253.61, which is an increase of about 34.7%[20] - Long-term borrowings increased to ¥1,889,116,525.80 from ¥1,184,955,206.30, representing a growth of approximately 59.5%[20] - Current liabilities reached approximately ¥4.16 billion, with accounts payable at about ¥1.54 billion[30] - Total liabilities were approximately ¥8.94 billion, with non-current liabilities accounting for around ¥4.78 billion[31] - Shareholders' equity totaled approximately ¥15.59 billion, with equity attributable to the parent company at about ¥15.52 billion[31] Cash Flow - The company reported a net cash flow from operating activities of ¥1,912,649,254.44 for the year-to-date, a 9.09% increase from ¥1,754,683,621.89 in the previous year[4] - Cash inflow from operating activities totaled CNY 6,172,089,889.60, compared to CNY 5,353,544,619.77 in the previous year, marking an increase of about 15.3%[27] - Net cash generated from operating activities was CNY 1,912,649,254.44, up from CNY 1,753,322,041.13, indicating a growth of approximately 9%[27] - Cash and cash equivalents at the end of the period amounted to CNY 3,358,822,346.69, an increase from CNY 3,147,944,949.02 at the end of the previous year[28] - The net increase in cash from operating activities was CNY 588,497,582.10, down from CNY 938,504,063.05 in the previous year, indicating a decrease of about 37.2%[28] Investments and Projects - The company has invested ¥3,900,000 in a PPP project in Henan Province, holding a 39% stake in the project company[16] - The company has established a joint venture with a registered capital of ¥10,000,000, where it holds a 90% stake, to develop water supply and wastewater treatment projects[16] - The long-term equity investment increased to ¥2,152,465,664.93 as of September 30, 2021, from ¥1,675,859,166.11 at the end of 2020, reflecting a growth of approximately 28.5%[19] - The company has optimized the equity structure of its subsidiaries engaged in sludge treatment, transferring 100% of shares in certain subsidiaries to enhance operational efficiency[16] Government Support and Subsidies - Government subsidies related to normal business operations amounted to ¥52,500,542.03, contributing positively to the financial results[7] - The increase in net profit was attributed to higher water supply volumes and increased government subsidies for wastewater treatment taxes[10] Shareholder Information - The total number of common shareholders at the end of the reporting period is 43,769[12] - The largest shareholder, Chongqing Derun Environment Co., Ltd., holds 2,401,800,000 shares, accounting for 50.04% of the total shares[12] Research and Development - Research and development expenses were reported at ¥1,455,020.59, slightly down from ¥1,473,514.57, indicating a decrease of about 1.2%[23] Other Income and Expenses - Other income increased significantly to ¥345,354,373.37 from ¥163,784,422.84, representing a growth of approximately 111.1%[23] - The company reported a decrease in tax expenses to ¥383,729,987.58 from ¥265,404,659.57, which is a reduction of about 44.5%[23]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 3,178,455,104.60, representing a 22.49% increase compared to the same period last year[15]. - Net profit attributable to shareholders of the listed company reached CNY 1,054,547,816.95, a 35.66% increase year-on-year[16]. - The net profit after deducting non-recurring gains and losses was CNY 773,546,132.90, reflecting a 7.98% increase compared to the previous year[16]. - Basic earnings per share increased by 37.50% to CNY 0.22 compared to the same period last year[17]. - Diluted earnings per share also rose by 37.50% to CNY 0.22 year-on-year[17]. - Revenue growth was primarily driven by increased water supply and adjustments in sewage treatment pricing[18]. - The weighted average return on equity increased by 1.70 percentage points to 6.72% compared to the previous year[17]. - Revenue from tap water supply was 80,727.14 million RMB, reflecting a year-on-year increase of 16.43%, with a gross margin of 29.36%, up by 4.66 percentage points[24]. - Revenue from sewage treatment was 183,556.66 million RMB, showing a year-on-year growth of 25.21%, with a gross margin of 48.86%, an increase of 1.86 percentage points[24]. Assets and Liabilities - Total assets increased by 11.50% to CNY 27,354,733,749.81 compared to the end of the previous year[16]. - The net assets attributable to shareholders of the listed company slightly decreased by 0.09% to CNY 15,509,179,695.20[16]. - The company's debt-to-asset ratio was 43.05%, up 6.60 percentage points from the end of the previous year, mainly due to the issuance of CNY 1 billion bonds and new bank loans of CNY 881 million[33]. - Total liabilities reached CNY 11,776,132,108.72, a rise from CNY 8,943,330,129.40, reflecting a growth of approximately 31.5%[115]. - Current liabilities amounted to CNY 5,501,333,298.14, compared to CNY 4,158,881,253.61, marking an increase of around 32.3%[115]. Cash Flow - The net cash flow from operating activities was CNY 833,391,769.05, showing a decrease of 14.54% from the previous year[16]. - Cash and cash equivalents increased by 15.49% to CNY 3,243,239,166.01 from CNY 2,808,188,993.10[36]. - The total cash inflow from operating activities was ¥3,651,449,170.42, compared to ¥3,453,464,079.64 in the same period of 2020, representing an increase of 5.7%[127]. - The net cash flow from operating activities for the first half of 2021 was ¥1,049,668,603.44, a decrease of 20.1% compared to ¥1,313,776,636.34 in the same period of 2020[129]. Operational Capacity - The company operates 29 water treatment plants with a production capacity of 2.7375 million cubic meters per day and 108 wastewater treatment plants with a daily processing capacity of 4.2408 million cubic meters[31]. - Water supply capacity increased by 29.30 thousand m³/day, reaching a total of 273.75 thousand m³/day, while sewage treatment capacity rose by 67.13 thousand m³/day to 424.08 thousand m³/day[23]. - The company has been granted water supply and sewage treatment concessions in Chongqing with a duration of 30 years[22]. Market Position - The company holds approximately 56% of the tap water market and 83% of the sewage treatment market in Chongqing, with a combined market share of about 88% for tap water and 93% for sewage treatment in the main urban area[23]. - The company plans to expand its market share in Chongqing and actively explore external markets for water supply, sludge disposal, and water environment governance[23]. Strategic Initiatives - The company is focusing on sustainable development and environmental protection as part of its strategic initiatives[22]. - The integration of new technologies such as IoT, big data, and cloud computing is driving the development of smart water services in the industry[23]. - The company aims to enhance operational management levels and ensure compliance with wastewater discharge standards amid increasing environmental regulations[23]. Risks and Challenges - The company faces risks related to the supply of raw materials, particularly due to uneven rainfall and extreme weather conditions affecting water purification costs[45]. - The company is at risk of not being able to adjust water prices in a timely manner, which could impact profitability amid rising supply costs[45]. - The company is exposed to tax risks due to changes in tax policies, which may increase its tax burden if it fails to meet the conditions for VAT refunds[46]. - The company is at risk of increased operational costs due to stricter environmental protection laws and regulations, which may lead to higher compliance costs[46]. Corporate Governance - The company has undergone changes in its board of directors and management, with several new appointments and elections taking place in 2021[50]. - The company reported no profit distribution or capital reserve fund increase plan for the half-year period[53]. - There are no significant lawsuits or arbitration matters reported during the reporting period[74]. Subsidiaries and Joint Ventures - The company has established several new subsidiaries, including a joint venture for environmental management with a capital contribution of CNY 49 million[39]. - The company has a total of 31 wholly-owned and controlling subsidiaries[147]. - The company has a total of 8 joint ventures, including Chongqing Dongyu Water Supply Co., Ltd.[147]. Environmental Compliance - The company maintains a 100% compliance rate for the water quality of its 14 centralized drinking water sources as reported by the Chongqing Ecological Environment Monitoring Center in 2021[30]. - The company has established a three-tier water quality monitoring system to ensure compliance with water quality standards[60]. - The company is committed to environmental responsibility and has developed emergency response plans for environmental incidents[59].

Financial Performance - Net profit attributable to shareholders rose by 117.70% to CNY 568,591,597.64 year-on-year[4] - Operating revenue grew by 28.49% to CNY 1,459,166,739.08 compared to the same period last year[4] - Basic earnings per share increased by 140.00% to CNY 0.12[5] - The company reported a significant increase in income tax expenses, rising by 447.73% to ¥88,894,278.22, due to profits from wastewater treatment services[12] - The company reported a net profit increase, with retained earnings rising to ¥4.38 billion from ¥3.81 billion, reflecting a growth of approximately 15.0%[19] - Net profit for Q1 2021 reached ¥568,960,595.13, compared to ¥261,553,258.00 in Q1 2020, representing a growth of 117.5%[25] - The total comprehensive income for Q1 2021 was approximately ¥285.30 million, significantly higher than ¥88.52 million in Q1 2020[29] Assets and Liabilities - Total assets increased by 10.83% to CNY 27,191,880,733.72 compared to the end of the previous year[4] - Total liabilities increased to ¥11.06 billion from ¥8.94 billion, showing a growth of about 23.7%[19] - Current liabilities totaled ¥6.05 billion, up from ¥4.16 billion, indicating an increase of approximately 45.4%[18] - The company's equity attributable to shareholders increased to ¥16.06 billion from ¥15.52 billion, a growth of approximately 3.5%[19] - Total assets reached ¥21,368,918,702.30 in Q1 2021 from ¥19,951,449,526.37 in Q1 2020, marking an increase of 7.1%[22] - Total liabilities rose to ¥8,256,733,169.50 in Q1 2021, compared to ¥7,124,560,844.41 in Q1 2020, indicating a growth of 15.9%[22] Cash Flow - Net cash flow from operating activities decreased by 5.11% to CNY 398,015,702.87 compared to the previous year[4] - Total cash inflow from operating activities amounted to CNY 1,865,179,718.19, up from CNY 1,632,881,475.59, reflecting a growth of 14.2%[31] - Cash outflow for purchasing goods and services increased to CNY 649,232,210.24 from CNY 469,940,954.56, representing a rise of 38.2%[31] - The net cash flow from investing activities was -CNY 1,170,774,785.85, compared to -CNY 49,489,062.28 in the previous year, indicating a significant increase in cash outflow[32] - Cash inflow from financing activities totaled CNY 1,076,535,566.31, down from CNY 2,067,300,000.00, a decline of 47.9%[32] Operational Highlights - The company signed a new service agreement for wastewater treatment in Chongqing, enhancing its operational scope[14] - The company is involved in a PPP project in Anning, with a total investment of approximately ¥709.55 million, expected to last 15 years[14] - The company has implemented new leasing standards, resulting in the recognition of lease liabilities of ¥2,026,130.73[10] Receivables and Payables - Accounts receivable decreased by 37.38% to CNY 689,109,422.22 compared to the end of the previous year[9] - Accounts payable increased to ¥2,421,665,959.07, up 57.34% from the previous year[10] - Prepayments decreased significantly by 81.80% to ¥1,008,148.95, primarily due to the recognition of rental income[10] - Employee compensation payable decreased by 32.21% to ¥185,671,408.92, reflecting payments made for the previous year's salaries[10] Investment and Expenses - Investment income increased by 44.73% to ¥39,569,534.06, driven by better performance from joint ventures[11] - Research and development expenses for Q1 2021 were ¥322,337.29, up from ¥64,853.27 in Q1 2020, reflecting a substantial increase in investment in innovation[25] - Financial expenses improved significantly, with interest expenses rising by 165.40% to ¥26,333,970.67[11]

Financial Performance - The company's operating revenue for 2020 was approximately RMB 6.35 billion, representing a year-on-year increase of 12.61% compared to RMB 5.64 billion in 2019[15]. - The net profit attributable to shareholders of the listed company for 2020 was approximately RMB 1.77 billion, an increase of 6.66% from RMB 1.66 billion in 2019[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 1.67 billion, reflecting an 8.59% increase from RMB 1.54 billion in 2019[15]. - Basic earnings per share for 2020 was CNY 0.37, an increase of 5.71% compared to CNY 0.35 in 2019[16]. - Diluted earnings per share for 2020 was also CNY 0.37, reflecting the same growth of 5.71% from 2019[16]. - The net profit attributable to shareholders for Q4 2020 was CNY 267,703,085.40, with a total annual net profit of CNY 1,769,000,000.00[20]. - The weighted average return on equity for 2020 was 11.57%, an increase of 0.39 percentage points from 2019[17]. - The total operating revenue for 2020 reached ¥6,349,599,844.62, an increase of 12.6% compared to ¥5,638,549,427.06 in 2019[191]. - Net profit for 2020 was ¥1,776,714,927.77, compared to ¥1,663,849,583.23 in 2019, representing an increase of 6.8%[192]. Cash Flow and Assets - The net cash flow from operating activities for 2020 was approximately RMB 2.30 billion, showing a slight increase of 2.74% compared to RMB 2.24 billion in 2019[15]. - The total assets of the company at the end of 2020 were approximately RMB 24.53 billion, which is an increase of 11.39% from RMB 22.03 billion at the end of 2019[15]. - Cash and cash equivalents increased to CNY 2,808.19 million in 2020 from CNY 2,242.48 million in 2019, indicating improved liquidity[185]. - The total cash and cash equivalents at the end of 2020 reached ¥2,770,324,764.59, compared to ¥2,209,440,885.97 at the end of 2019, indicating a growth of 25.4%[200]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 2.55 per 10 shares, totaling RMB 1.22 billion to shareholders, with no bonus shares or capital reserve conversion planned for this year[4]. - In 2020, the company distributed cash dividends of 2.55 RMB per 10 shares, totaling 1,224,000,000 RMB, which accounted for 69.01% of the net profit attributable to ordinary shareholders[73]. - The company has a cash dividend policy to distribute no less than 60% of the distributable profits, ensuring protection of minority shareholders' rights[72]. Market and Operational Expansion - The company aims to expand its market presence beyond Chongqing to provinces such as Sichuan, Yunnan, Hubei, and Henan[27]. - The company has expanded its sewage treatment projects in regions including Sichuan and Hubei, enhancing its market presence[25]. - The company successfully expanded its market by winning several PPP projects, including the Kunming Wuhua Water Environment Comprehensive Governance Project[30]. - The company aims to exceed 40 billion yuan in total assets and achieve a water supply and drainage capacity of over 8 million tons per day by the end of 2025[68]. Environmental and Social Responsibility - The company reduced COD emissions by nearly 260,000 tons and ammonia nitrogen emissions by 25,000 tons during the year[32]. - The company donated a total of 630,000 RMB to local charities as part of its social responsibility initiatives[32]. - The company provided a water price discount of 25.88 million RMB and waived late fees exceeding 1.25 million RMB to support small and medium-sized enterprises during the pandemic[110]. Risks and Compliance - The company has detailed potential risks in its report, which investors should consider[6]. - The company is committed to complying with environmental regulations to mitigate risks associated with increased operational costs due to stricter enforcement[70]. - The company has ongoing significant litigation involving a construction contract dispute with a claim amount of RMB 59.39 million[84]. Research and Development - The total R&D investment amounted to ¥4,760,972.62, representing 0.07% of total revenue, with 93 R&D personnel, accounting for 1.55% of the total workforce[44]. - Research and development expenses were 4.72 million RMB, a decrease of 3.56% compared to the previous year[34]. - The company is focusing on digital transformation and smart water management through big data and cloud computing technologies[29]. Corporate Governance - The company has a total of 10 board members, ensuring a broad range of expertise and perspectives[135]. - The board of directors consists of 7 members, including 3 independent directors, with 9 meetings held during the reporting period[155]. - The company has maintained a consistent shareholding structure with no changes in shareholdings during the reporting period[135].

Financial Performance - Net profit attributable to shareholders increased by 4.44% to CNY 1,506,027,076.43 for the year-to-date period[4] - Operating revenue for the year-to-date period rose by 8.34% to CNY 4,434,217,485.14 compared to the same period last year[4] - Basic earnings per share increased by 3.33% to CNY 0.31 compared to the same period last year[5] - Total operating revenue for Q3 2020 reached ¥1,839,410,738.81, an increase of 19.87% compared to ¥1,534,967,376.41 in Q3 2019[25] - Net profit for Q3 2020 was ¥716,068,939.47, up 19.59% from ¥599,313,466.55 in Q3 2019[26] - Operating profit for Q3 2020 was ¥920,018,673.70, representing a 46.19% increase from ¥629,048,914.88 in Q3 2019[26] - Total comprehensive income for Q3 2020 was ¥748,129,768.80, an increase from ¥636,377,898.79 in Q3 2019[28] - Net profit for Q3 2020 was ¥525,754,949.14, compared to ¥408,512,945.54 in Q3 2019, reflecting a 28.7% increase[30] Assets and Liabilities - Total assets increased by 9.86% to CNY 23,852,723,050.18 compared to the end of the previous year[4] - The company's total assets amounted to 23.85 billion yuan, an increase from 21.71 billion yuan at the end of 2019, representing a growth of approximately 9.85%[19] - Total liabilities increased to ¥8,553,991,363.40, up from ¥6,541,702,339.70, representing a growth of approximately 30.7% year-over-year[20] - Total current liabilities decreased to approximately 3.91 billion yuan from 4.03 billion yuan, a reduction of about 2.77%[19] - The company's total current liabilities amounted to CNY 6,541,702,339.70, with current liabilities at CNY 4,025,952,019.07[37] Cash Flow - Net cash flow from operating activities increased by 3.69% to CNY 1,754,683,621.89 for the year-to-date period[4] - Cash flow from operating activities for the first three quarters of 2020 was ¥1,754,683,621.89, up from ¥1,692,233,222.55 in the same period of 2019[31] - The net cash flow from operating activities for Q3 2020 was ¥2,532,370,069.31, compared to ¥1,300,271,335.50 in Q3 2019, representing a significant increase[34] - Total cash inflow from financing activities in Q3 2020 was ¥2,037,338,584.25, significantly higher than ¥479,183,855.06 in Q3 2019[34] Shareholder Information - The total number of shareholders reached 41,485 by the end of the reporting period[6] - The largest shareholder, Chongqing Derun Environment Co., Ltd., holds 50.04% of the shares[6] - Total equity attributable to shareholders increased to ¥15,260,152,960.61 from ¥15,147,071,938.64, reflecting a growth of approximately 0.7%[20] Expenses and Income - The company's financial expenses rose by 49.02% to ¥32,939,331.47, driven by increased interest expenses of 231.24% to ¥60,292,539.50[12] - Income tax expenses surged by 158.22% to ¥265,404,659.57, largely due to new sewage treatment revenue[12] - The company reported a total of CNY 22,166,659.98 in non-operating income for the current period[5] Investments and Acquisitions - The company completed the acquisition of a 20% stake in Zhongzhou Water Holdings, impacting non-current assets[10] - The company won a bid for the Kunming Wuhua District Water Environment Comprehensive Treatment PPP project, with a total construction cost estimated at 489.02 million yuan and a construction period of 2 years[14] Other Financial Metrics - The weighted average return on equity decreased by 0.02 percentage points to 9.86%[4] - The company reported a significant increase in minority shareholder profit by 887.08% to ¥2,808,379.83, reflecting improved performance of its subsidiaries[12] - The company reported a decrease in other comprehensive income to ¥492,477,727.35 from ¥651,823,781.81, a decline of about 24.4%[20]