Financial Performance - The company's operating revenue for 2018 was RMB 1,055,060,688.81, representing a 34.43% increase compared to RMB 784,838,548.26 in 2017[32]. - The net profit attributable to shareholders of the listed company for 2018 was RMB 272,773,322.67, which is a 32.11% increase from RMB 206,477,431.15 in 2017[32]. - The company achieved a net profit of RMB 263.22 million, representing a 34.78% increase compared to RMB 195.29 million in the previous year[35]. - The total assets increased by 54.80% to RMB 10.54 billion from RMB 6.81 billion year-over-year[35]. - The company processed 4.69 million tons of municipal waste, a year-on-year growth of 29.56%[43]. - The company generated 1.398 billion kWh of electricity, marking a 38.76% increase compared to the previous year[43]. - The basic earnings per share rose to RMB 0.25, a 25% increase from RMB 0.20 in 2017[36]. - The company reported a total investment of RMB 40.55 million for the Wuhan project, with a waste disposal fee standard of RMB 68 per ton[107]. - The total comprehensive income attributable to the parent company's shareholders for the reporting period was RMB 274,753,383.55, an increase from RMB 200,692,975.95 in the same period of 2017, primarily due to the increase in net profit[144]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1 per 10 shares, totaling RMB 116.12 million, based on a total share capital of 1,161,200,000 shares[7]. - The company has a cash dividend policy that mandates a minimum of 10% of the distributable profit to be distributed as cash dividends each year[171]. - In 2018, the company distributed cash dividends amounting to RMB 116.12 million, representing 42.57% of the net profit attributable to ordinary shareholders[172]. - The board of directors proposed a final dividend of RMB 0.1 per share, totaling RMB 11,612 million, subject to approval at the upcoming annual general meeting[149]. - The company reported a distributable reserve of RMB 768.30 million for the reporting period[161]. Audit and Compliance - The company has received a standard unqualified audit report from KPMG Huazhen[5]. - The financial report is guaranteed to be true, accurate, and complete by the company's responsible persons[6]. - The report complies with all disclosure requirements set by the Shanghai Stock Exchange and Hong Kong Stock Exchange[12]. - The company has appointed KPMG Huazhen LLP as the auditor for the 2018 fiscal year, with an audit fee of RMB 2.58 million[189]. - The audit committee reviewed the annual performance and the adopted accounting standards and policies[188]. Operational Strategy and Market Expansion - The company has expanded its project portfolio with multiple waste-to-energy projects across various regions, enhancing its market presence[30]. - The company is actively pursuing new strategies for market expansion, including the development of additional waste incineration power plants[30]. - The company plans to continue expanding its market presence in economically developed regions and central-western areas of China[46]. - The company has engaged in strategic partnerships to enhance its operational capabilities and expand its service offerings in the environmental sector[30]. - The company is focused on optimizing internal business departments and enhancing market expansion and investment acquisition efforts through a unified business development team[135]. Research and Development - The company plans to continue its investment in research and development to innovate new products and technologies in the environmental protection industry[30]. - The company’s R&D expenses increased by 28.40% to RMB 13,150,331.97, indicating a commitment to innovation and technology development[67]. - The company completed the design optimization and testing of a 600-ton large incinerator and submitted three technology patent applications, with a total of 53 patents granted[63]. Risks and Challenges - The company has detailed various risks in the report, which investors should review in the section on future development risks[9]. - The company faces risks from industry policies, including potential reductions in government support for waste-to-energy projects, which could adversely affect operations and cash flow[136]. - The company is committed to addressing public concerns regarding waste incineration and is subject to strict environmental regulations, which may increase operational costs[139]. - Environmental protection risks exist during project construction and operation, which could negatively impact the company's operations and brand reputation[143]. - The company emphasizes the importance of stable waste supply and calorific value for operational efficiency, as fluctuations could negatively impact profitability[140]. Financial Management - The company reported a net cash flow from operating activities of RMB -222.72 million, indicating a need for improved cash management strategies[35]. - The company’s financing activities generated a net cash flow of RMB 1,600,328,127.89, a 117.13% increase compared to the previous year[67]. - The company has utilized RMB 100 million of the raised funds to supplement working capital and has completed the planned use of the raised funds[148]. Acquisitions and Investments - The company completed its largest acquisition to date, enhancing its operational capacity significantly[43]. - The company successfully completed the acquisition of Bohai Xinneng, indicating a major breakthrough in project mergers and acquisitions[58]. - The company acquired new subsidiaries, resulting in cash inflows of ¥439,238,742.38, with additional cash from joint ventures amounting to ¥62,224,489.80[91]. - The company made a significant equity investment of RMB 129.44 million during the reporting period, representing a 382% increase year-on-year[120]. - The company acquired 80% of Huludao Green Benefit Environmental Service Co., Ltd. for RMB 130 million, focusing on hazardous waste treatment[121]. Regulatory and Legal Matters - The company received an administrative penalty of RMB 1 million from the Taizhou Environmental Protection Bureau for exceeding emission standards, and has completed the required rectifications[192]. - There were no significant litigation or arbitration matters during the reporting period[192]. - The company has not faced any risks of suspension or termination of its listing[190]. Shareholder Relations - The company has a commitment from its major shareholder to not transfer shares for 36 months post-IPO[175]. - The annual general meeting is scheduled for June 5, 2019, where shareholders will vote on the proposed dividend and other matters[153].

Financial Performance - Operating revenue for the first nine months reached CNY 779,459,675.19, a 34.23% increase year-on-year[5] - Net profit attributable to shareholders increased by 53.01% to CNY 241,215,449.40 compared to the same period last year[5] - Basic and diluted earnings per share rose by 46.67% to CNY 0.22[6] - The company reported a net cash flow from operating activities of CNY (276,904,176.74) for the first nine months, which is not applicable for comparison[5] - The net profit for the third quarter of 2018 was RMB 241,250,343.06, reflecting a 53.04% growth year-on-year, primarily driven by increased revenue[11] - Total operating revenue for the third quarter reached ¥278,128,507.26, a significant increase from ¥162,436,238.99 in the same period last year, representing a growth of 71.1%[21] - Net profit for the third quarter was ¥73,145,146.13, up from ¥11,787,960.10 in the same quarter last year, marking a substantial increase of 520.5%[22] - The company reported a total profit of ¥88,099,917.63 for the third quarter, compared to ¥19,211,205.13 in the previous year, indicating a growth of 359.5%[22] - The company’s total profit for Q3 2023 was ¥23,936,406.52, a decrease of 77.5% compared to ¥106,562,478.71 in Q3 2022[26] Assets and Liabilities - Total assets increased by 19.75% to CNY 8,154,998,926.40 compared to the end of the previous year[5] - Total liabilities increased to ¥5,262,197,416.70 from ¥4,575,496,105.79, reflecting a growth of about 15.0%[17] - Current liabilities decreased slightly to ¥1,237,962,140.42 from ¥1,294,447,934.81, a reduction of about 4.4%[17] - Long-term borrowings rose significantly to ¥3,640,018,056.42 from ¥2,914,085,622.20, marking an increase of approximately 24.9%[17] - Shareholders' equity rose to ¥2,892,801,509.70 from ¥2,234,640,176.45, an increase of approximately 29.5%[17] - Total current assets increased to ¥650,486,865.69 from ¥471,052,541.67, representing a growth of approximately 38.1%[18] Cash Flow - The company reported a net cash outflow from operating activities of ¥276,904,176.74 for the first nine months of 2023, compared to an outflow of ¥155,795,893.20 in the previous year[29] - Cash and cash equivalents at the end of Q3 2023 were ¥656,404,930.75, down from ¥842,203,632.05 at the end of Q3 2022[30] - The company raised ¥57,512,940.95 from minority shareholders during the financing activities in the first nine months of 2023[30] - The total investment cash outflow for the first nine months of 2023 was ¥627,327,195.76, compared to ¥297,648,554.41 in the previous year[29] - Cash paid for operating activities increased to $164.87 million, compared to $132.99 million in the same period last year[32] Shareholder Information - The total number of shareholders reached 61,273 by the end of the reporting period[7] - The largest shareholder, Beijing State-owned Assets Management Co., Ltd., holds 43.161% of the shares[8] Government Support and Investments - The company received government subsidies amounting to CNY 5,256,386.48 during the reporting period[7] - The company plans to acquire 100% equity of Guangdong Bohai Xinneng Environmental Co., Ltd. for RMB 610 million, pending approval from the relevant authorities[11] - A framework agreement was signed for the expansion of the Haining Waste Incineration Power Plant, with a total investment expected to be RMB 1.3 billion[12] Research and Development - Research and development expenses for the third quarter were ¥1,538,864.61, slightly down from ¥1,800,168.15 in the same period last year, a decrease of 14.5%[21] - Research and development expenses for the first nine months of 2023 amounted to ¥5,761,195.33, a decrease of 6.0% compared to ¥6,131,738.22 in the same period last year[26] Financial Ratios and Metrics - The weighted average return on equity increased by 2.4 percentage points to 9.77%[6] - The gross profit margin for the third quarter improved to 10.5%, compared to 2.5% in the same quarter last year[21] - Earnings per share for the third quarter were ¥0.06, compared to ¥0.01 in the same period last year, reflecting a 500% increase[23] - The company achieved a comprehensive income total of ¥74,459,776.51 for the third quarter, compared to ¥8,817,717.30 in the previous year, an increase of 743.5%[23]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2018, representing a year-on-year increase of 15%[16]. - The net profit attributable to shareholders was RMB 200 million, an increase of 10% compared to the same period last year[16]. - The company's operating revenue for the first half of 2018 was approximately CNY 501.33 million, representing a year-on-year increase of 19.86% compared to CNY 418.27 million in the same period last year[23]. - The net profit attributable to shareholders for the first half of 2018 was approximately CNY 168.09 million, an increase of 15.24% from CNY 145.85 million in the previous year[23]. - The basic earnings per share for the first half of 2018 was CNY 0.16, up 14.29% from CNY 0.14 in the same period last year[24]. - The company reported a net profit attributable to shareholders of RMB 168,086,711.59, a 15.24% increase year-on-year[35]. - The company reported a profit before tax of RMB 184,945,095, an increase of approximately RMB 4,361,400 compared to the previous year[54]. - The company reported a total of CNY 1.12 million in non-recurring gains and losses for the reporting period[25]. - The company achieved operating revenue of RMB 501,331,167.93, representing a 19.86% increase compared to the same period last year[41]. - The company reported a total comprehensive income of CNY 168,647,521.21 for the period[155]. Operational Capacity and Expansion - The company has expanded its operational capacity with the completion of three new waste-to-energy projects, increasing total processing capacity by 20%[16]. - User data indicates a 25% increase in the number of waste treatment contracts signed in the first half of 2018, totaling 150 contracts[16]. - The company operated 13 waste incineration power generation projects with a waste processing capacity of 10,760 tons per day as of June 30, 2018[27]. - The company has 6 projects under construction with a waste processing capacity of 6,850 tons per day, indicating ongoing expansion in its operational capacity[27]. - The total waste processed reached 2.21 million tons, including 77,000 tons of straw, marking a 26% year-on-year growth[35]. - The electricity generated was 634 million kWh, reflecting a 35% increase year-on-year[35]. - The company secured new waste treatment concession rights for 4,450 tons/day, including the Huizhou Phase II and Henan Dengfeng projects[36]. - The company plans to ensure the completion and stable operation of the Miyun and Ninghe biomass projects in the second half of the year[39]. - The company aims to expand its project construction and ensure the timely completion of the Shantou, Zhangqiao, and Bobai projects[39]. Financial Position and Assets - The company's total assets at the end of the reporting period were approximately CNY 7.85 billion, reflecting a year-on-year growth of 15.26% from CNY 6.81 billion[23]. - The company's net assets attributable to shareholders increased to approximately CNY 2.75 billion, a rise of 23.06% from CNY 2.23 billion at the end of the previous year[23]. - The company's total assets reached RMB 7,849,692,544.08, with total equity of RMB 2,771,541,732.14 as of June 30, 2018[35]. - The company's total liabilities were RMB 5,078,150,812, resulting in a debt-to-asset ratio of 65%[48]. - The company's cash and cash equivalents increased to RMB 841,734,115, up 21.20% from RMB 694,492,369 at the end of the previous year[57]. - The company's total equity reached RMB 2,771,541,732, up from RMB 2,234,640,176, reflecting a growth of approximately 24%[137]. Research and Development - The company plans to invest RMB 500 million in research and development for new waste treatment technologies over the next two years[16]. - The company holds a total of 44 patents, including 9 invention patents and 35 utility model patents[37]. - Research and development expenses for the first half of 2018 were ¥4,222,330.72, slightly down from ¥4,331,570.07 in the same period last year[141]. Risks and Compliance - The company has outlined potential risks including policy changes and market competition in its risk assessment section[16]. - The company faces risks related to the stability of waste supply and calorific value, which can impact operational efficiency and profitability[6]. - The financial report has been prepared in accordance with Chinese accounting standards and has been reviewed by KPMG[16]. - The company has complied with the corporate governance code throughout the reporting period[106]. - The company reported significant litigation and arbitration matters during the reporting period[86]. Environmental Compliance - The company operates multiple waste incineration power plants, which are classified as key pollutant discharge units by environmental protection authorities[94]. - Major pollutants emitted during production include sulfur dioxide, smoke, nitrogen oxides, and COD, all of which are treated to meet standards before discharge[94]. - The company has implemented a comprehensive air pollution control system, including SNCR denitrification and bag filter dust removal[101]. - The company’s pollution emissions were within the regulatory standards, with no exceedances reported[100]. - The company reported that the emission concentration of nitrogen oxides from furnace 1 was 116 mg/m³, which is 61.33% below the limit of 300 mg/m³[95]. Shareholder Information - The company issued 11,620 million A-shares, which were listed on the Shanghai Stock Exchange on June 11, 2018[112]. - As of June 30, 2018, the total number of A-share shareholders was 98,090, with no preferred shareholders[114]. - The largest shareholder, Beijing State-owned Assets Management Co., held 501,189,618 shares, representing 43.1614% of total shares[116]. - The total number of shares after the issuance increased to 116,120 million, with a total share count of 104,500 million before the issuance[116]. - The company has not reported any non-standard audit reports for the previous year's financial statements[85]. Financing Activities - The company raised approximately RMB 3.57 billion from its A-share listing, contributing to a net cash inflow from financing activities of about RMB 340 million[43]. - The company raised a total of HKD 1.19025 billion from its H-share global offering, with a net amount of HKD 1.126 billion after deducting issuance costs[63]. - The company raised RMB 382,298,000.00 from new investments during the period[151]. - The company has provided financial guarantees for bank credit facilities of its subsidiaries, with the maximum liability amounting to RMB 2,678,955,695 as of June 30, 2018[60]. Employee and Management - The number of employees as of June 30, 2018, was 1,513[130]. - The company has implemented a systematic training program for employees, focusing on various aspects of company operations and core technologies[131]. - The company is actively seeking to improve employee compensation and benefits as part of its ongoing development strategy[131].