Financial Performance - The company's operating revenue for the third quarter was approximately CNY 4.70 billion, a decrease of 3.49% compared to the same period last year[5]. - The net profit attributable to shareholders was approximately CNY 57.09 million, an increase of 9.91% year-on-year[5]. - The net profit after deducting non-recurring gains and losses was approximately CNY 46.63 million, a decrease of 10.91% compared to the same period last year[6]. - The basic earnings per share for the quarter was CNY 0.0530, an increase of 11.49% year-on-year[6]. - Total operating revenue for the first three quarters of 2021 reached ¥15,207,949,578.35, an increase of 8.5% compared to ¥14,017,482,101.70 in the same period of 2020[39]. - Net profit for the first three quarters of 2021 was ¥308,931,817.56, compared to ¥184,004,297.48 in the same period of 2020, representing a growth of 67.9%[41]. - Earnings per share for the first three quarters of 2021 were ¥0.2763, an increase from ¥0.1632 in the same period of 2020[42]. - The company reported a total comprehensive income of ¥316,290,474.23 for the first three quarters of 2021, compared to ¥192,921,781.94 in the same period of 2020[42]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 20.22 billion, an increase of 8.56% compared to the end of the previous year[6]. - The total assets as of the end of the third quarter of 2021 were ¥20,216,880,910.69, an increase from ¥18,622,308,037.43 at the end of 2020[40]. - The company's total assets were reported at CNY 18.62 billion, with a minor increase to CNY 18.64 billion[48]. - Total liabilities amounted to approximately CNY 14.83 billion, with a slight increase to CNY 14.85 billion[48]. - The total liabilities as of the end of the third quarter of 2021 amounted to ¥16,071,820,673.74, an increase from ¥14,828,094,729.92 at the end of 2020[40]. - Current liabilities totaled 14,043,462,198.81 RMB, remaining stable compared to the previous year[47]. Cash Flow - The cash flow from operating activities for the year-to-date was negative CNY 1.10 billion[6]. - The net cash flow from operating activities was -1,098,649,684.64 RMB, compared to -84,690,069.28 RMB in the previous year, indicating a significant decline[44]. - Cash inflow from operating activities for the first three quarters of 2021 was ¥17,984,971,899.06, compared to ¥13,025,954,524.88 in 2020, indicating a significant increase of 38.5%[43]. - Total cash outflow from operating activities reached 19,083,621,583.70 RMB, up from 13,110,644,594.16 RMB year-over-year[44]. - Cash inflow from investment activities was 205,901,386.72 RMB, a substantial increase from 8,959,257.07 RMB in the same period last year[44]. - The net cash flow from investment activities was -11,462,116.98 RMB, compared to -62,382,901.03 RMB in the previous year, showing improvement[44]. - Cash inflow from financing activities totaled 3,319,898,600.10 RMB, down from 4,850,173,994.34 RMB year-over-year[44]. - The net cash flow from financing activities was 834,399,225.72 RMB, compared to 136,741,865.73 RMB in the previous year, indicating a positive trend[44]. - The ending balance of cash and cash equivalents was 2,029,767,879.86 RMB, compared to 1,755,406,945.54 RMB at the end of the previous year[45]. Shareholder Information - The company's equity attributable to shareholders was approximately CNY 3.74 billion, an increase of 4.85% year-on-year[6]. - The total number of common shareholders at the end of the reporting period is 41,273[13]. - The largest shareholder, Ningbo Transportation Investment Holding Co., Ltd., holds 292 million shares, accounting for 29.92% of the total shares[14]. - Total equity attributable to shareholders of the parent company was ¥3,742,540,326.17, up from ¥3,569,466,207.59 in the previous year[40]. Research and Development - Research and development expenses increased by 51.11% compared to the previous year, indicating a focus on innovation[11]. - Research and development expenses for the first three quarters of 2021 were ¥345,839,611.88, compared to ¥228,858,929.36 in 2020, reflecting a year-on-year increase of 51.3%[40]. Legal and Dispute Matters - The company has a pending receivable of 45,517,598.82 RMB from a construction contract dispute with Ningbo Aidi Misi Sports Goods Co., Ltd.[16]. - The company has received 98,502,192.61 RMB from a construction contract dispute with Lianxi City Xirui Real Estate Development Co., Ltd., with a total claim of 125,299,046 RMB[17]. - The company has a remaining receivable of 84,446,714.30 RMB from a contract dispute with Ningbo Zhenhai Xinhengde Real Estate Development Co., Ltd.[18]. - The company has a total claim of 53 million RMB from a construction contract dispute with Ningbo Guanglong Real Estate Development Co., Ltd.[20]. - The company confirmed priority claims of CNY 169,022,736 and ordinary claims of CNY 6,352,726 in the bankruptcy case against Ningbo Nannan Real Estate Co., Ltd. as of February 2017[21]. - The company has received a total of CNY 150,651,447.16 from the bankruptcy claims as of the reporting period[21]. - The court ruled that Ningbo Qianhe Real Estate Co., Ltd. must pay CNY 39,432,865 for construction work, with the company holding priority rights over the proceeds from any auction or sale of the project[21]. - The company has received CNY 36,608,891 from the construction contract dispute with Zhejiang Lu Wang Logistics Co., Ltd. as of the reporting period[22]. - The company reached a settlement with Cangnan Wanshun Real Estate Co., Ltd. for CNY 98 million regarding a construction payment dispute[22]. - The company has received CNY 11,276,519 from the court ruling against Ningbo Ridi Solar Power Co., Ltd. for construction payments[26]. - The company holds a priority claim of CNY 28,904,231 against Henan Baitong Real Estate Co., Ltd. as confirmed by the court in May 2019[27]. - The company has received CNY 1,123,323.94 from the enforcement of a court ruling against Zhang Yun for a loan repayment[29]. - The company is pursuing CNY 24,816,393.80 in construction payments from Cixi Drainage Co., Ltd. through arbitration[29]. - The company has initiated lawsuits against various clients for unpaid project payments, including a claim for CNY 30,176,406 against Kaifeng Greentown and CNY 140,122,596.46 against Anshun Transportation Investment[30][32][34]. - The company has ongoing litigation for a total of CNY 12,458,161.58 against Fujian Bonade Technology Park Development for unpaid project payments[31].

Financial Performance - Ningbo Construction reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[11]. - The company's net profit attributable to shareholders reached RMB 150 million, up 20% compared to the same period last year[11]. - The company's operating revenue for the first half of the year reached ¥10,509,207,265.39, representing a 14.87% increase compared to ¥9,148,989,337.99 in the same period last year[17]. - Net profit attributable to shareholders was ¥228,742,611.18, a significant increase of 91.92% from ¥119,187,532.36 year-on-year[17]. - Basic earnings per share rose to ¥0.2233, marking a 93.00% increase from ¥0.1157 in the previous year[18]. - The total profit for the first half of 2021 was CNY 294,975,160.55, compared to CNY 150,266,942.39 in the same period last year, representing a growth of 96.4%[134]. - The company's total comprehensive income for the first half of 2021 was CNY 250,313,545.08, compared to CNY 122,039,310.01 in the previous year, representing a growth of 105.5%[135]. Assets and Liabilities - The total assets of Ningbo Construction as of June 30, 2021, amounted to RMB 5 billion, reflecting a growth of 10% year-on-year[11]. - The total assets of the company at the end of the reporting period were ¥19,797,878,259.20, up 6.31% from ¥18,622,308,037.43 at the end of the previous year[17]. - The total liabilities increased to ¥15,699,618,189.98 from ¥14,828,094,729.92, representing a growth of 5.8%[130]. - The company's total liabilities amounted to RMB 15.7 billion, showing an improvement in debt structure and enhanced overall risk resistance[122]. - The debt-to-asset ratio slightly decreased by 0.33% to 79.30% from 79.63%, reflecting a marginal improvement in leverage[112]. Contracts and Projects - The company has secured new contracts worth RMB 2 billion in the first half of 2021, indicating a 25% increase in new contract value compared to the previous year[11]. - The company undertook a total of CNY 11.806 billion in construction contracts during the reporting period, a year-on-year increase of 7.38%, with the building engineering segment accounting for 62.60% of the total[26]. - The company secured several significant projects, including the construction of the Cixi Station Road project with a bid price of CNY 800 million and the Ningbo Medical Center project at CNY 438 million[29]. Market Expansion and Strategy - Ningbo Construction plans to invest RMB 200 million in new technology development in the next fiscal year to enhance operational efficiency[11]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a revenue contribution of 10% from this region by 2023[11]. - The company is actively pursuing an external expansion strategy to counteract the slowing local construction market, aiming for a localized and scalable approach[51]. - The company is exploring partnerships with local governments to secure more public infrastructure projects, aiming for a 30% increase in contract wins[81]. Research and Development - Research and development expenses increased by 82.26% year-on-year, amounting to CNY 203.53 million, due to increased investment in R&D activities[32]. - New product development includes the launch of a green building materials line, expected to contribute an additional 100 million RMB in revenue by the end of 2021[81]. Legal Matters - The company has ongoing significant litigation matters, including a lawsuit against Xirui Real Estate for overdue payments totaling RMB 127,406,606.61[69]. - The company is involved in multiple legal proceedings, including appeals and enforcement of judgments related to overdue payments[69]. - The company has filed a lawsuit against Ningbo Aidi Misi Sports Goods Co., Ltd. for overdue project payments totaling 45,517,598.82 RMB[72]. - The company is actively pursuing legal actions to secure its financial interests in various projects[72]. Financial Management - The company is focusing on risk management strategies to mitigate potential risks from macroeconomic fluctuations, accounts receivable, raw material price volatility, market expansion, and legal disputes[49][50][51]. - The company plans to enhance its supply chain management and cost control systems to address raw material price fluctuations and improve overall financial health[50]. - The company has committed to minimizing related party transactions and will not require better conditions than those offered to third parties[67]. Corporate Social Responsibility - The company committed to donating 500,000 yuan annually for five years to support local charitable initiatives, totaling 2.5 million yuan[61]. - The company has established a sports culture charity fund with a principal of 10 million yuan, providing 500,000 yuan annually to support swimming projects in Ningbo[61]. - The company actively promotes green construction and has increased the application ratio of energy-saving and environmentally friendly equipment in new buildings[60]. Shareholder Information - The largest shareholder, Ningbo Transportation Investment Holding Co., Ltd., holds 292,000,000 shares, representing 29.92% of total shares[105]. - There are no changes in the controlling shareholder or actual controller during the reporting period[107]. - The report indicates no stock options or equity incentives granted to directors, supervisors, or senior management during the reporting period[107]. Accounting Policies - The accounting policies and estimates are in accordance with the enterprise accounting standards, ensuring accurate financial reporting[165]. - The company includes all subsidiaries in the consolidated financial statements, including controlled entities and structured entities[170]. - Financial instruments are classified based on the company's business model and contractual cash flow characteristics[178].

Financial Performance - Net profit attributable to shareholders was CNY 85.51 million, an increase of 51.15% year-on-year[6]. - Operating revenue reached CNY 6.22 billion, reflecting a growth of 25.76% compared to the same period last year[6]. - Basic earnings per share were CNY 0.0821, up 41.55% from CNY 0.0580 in the previous year[6]. - The diluted earnings per share were CNY 0.0811, an increase of 39.83% compared to the previous year[6]. - Net profit for Q1 2021 was ¥86,023,587.90, representing a 61.1% increase compared to ¥53,407,820.80 in Q1 2020[50]. - Basic earnings per share for Q1 2021 was ¥0.0821, compared to ¥0.0580 in Q1 2020, reflecting a 41.4% increase[51]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 862.72 million, compared to negative CNY 491.77 million in the same period last year[6]. - Cash flow from operating activities for Q1 2021 was -862,718,470.20 RMB, compared to -491,767,361.93 RMB in Q1 2020, reflecting a significant increase in cash outflow[57]. - Total cash inflow from operating activities decreased to 4,810,049,189.82 RMB in Q1 2021 from 5,450,305,440.04 RMB in Q1 2020, a decline of approximately 11.7%[56]. - Cash and cash equivalents at the end of Q1 2021 were 1,767,284,113.41 RMB, down from 1,331,651,680.86 RMB in Q1 2020[58]. - The net cash flow from financing activities was -36,817,027.82 CNY, compared to a net inflow of 200,598,817.99 CNY in the previous period[60]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 18.34 billion, a decrease of 1.53% compared to the end of the previous year[6]. - Total current assets as of March 31, 2021, amounted to CNY 15,602,020,214.32, a slight decrease from CNY 15,762,829,940.55 as of December 31, 2020, representing a decline of approximately 1%[43]. - Total liabilities decreased to CNY 14,209,125,889.36 from CNY 14,828,094,729.92, a reduction of about 4%[44]. - Total assets as of the end of Q1 2021 amounted to ¥4,026,633,212.94, slightly down from ¥4,057,550,666.04 at the end of Q1 2020[48]. - Total liabilities for Q1 2021 were ¥1,577,831,712.80, a marginal increase from ¥1,576,780,021.33 in Q1 2020[48]. Shareholder Information - The total number of shareholders was 45,785 at the end of the reporting period[9]. - The largest shareholder, Ningbo Transportation Investment Holding Co., Ltd., held 292 million shares, accounting for 29.92% of the total shares[10]. Research and Development - R&D expenses surged by 177.71% to ¥93,392,018.46, reflecting increased investment in research and development[13]. - The company reported a significant increase in R&D expenses, totaling ¥93,392,018.46 in Q1 2021, compared to ¥33,629,549.24 in Q1 2020, marking an increase of 177.5%[49]. Legal and Contractual Matters - The company has a court ruling requiring Shenghong Yong to return a prepayment of RMB 18 million and pay remaining project funds of RMB 3,834,785, along with compensation for losses of RMB 398,868[20]. - The company has a claim against Zhenjiang Shenguotou for a total debt of RMB 72,477,309, with property valued at RMB 40,279,488 used as collateral for debt repayment[21]. - The company reached an agreement with Ningbo Guanglong to receive a total of RMB 53 million for project payments, with a court ruling confirming payments of RMB 21,354,661 and a penalty of RMB 2,217,243[22]. - The company has confirmed priority claims of RMB 169,022,736 and ordinary claims of RMB 6,352,726 against Nannan Real Estate, with total recoveries of RMB 150,651,447.16 to date[23]. - The company has received a total of RMB 36,171,720 from Zhejiang Lu Wang Logistics as part of a court ruling for project payments and penalties[24]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[50]. - The management remains optimistic about achieving further revenue growth in the upcoming quarters, supported by ongoing projects and strategic initiatives[50].

Financial Performance - The company's operating revenue for 2020 was approximately CNY 19.80 billion, representing a year-on-year increase of 6.69% compared to CNY 18.56 billion in 2019 [21]. - The net profit attributable to shareholders for 2020 was CNY 279.59 million, which is an increase of 16.36% from CNY 240.28 million in 2019 [21]. - The total assets at the end of 2020 reached CNY 18.62 billion, marking an 18.10% increase from CNY 15.77 billion at the end of 2019 [21]. - The basic earnings per share for 2020 was CNY 0.2687, up 9.14% from CNY 0.2462 in 2019 [22]. - The weighted average return on equity for 2020 was 8.78%, an increase of 0.26 percentage points from 8.52% in 2019 [22]. - The net cash flow from operating activities for 2020 was CNY 969.60 million, a decrease of 14.87% compared to CNY 1.14 billion in 2019 [21]. - The company reported a net profit of CNY 108.46 million in Q4 2020, which is a significant increase compared to CNY 56.57 million in Q1 2020 [24]. - The total equity attributable to shareholders at the end of 2020 was CNY 3.57 billion, reflecting a 23.32% increase from CNY 2.89 billion at the end of 2019 [21]. - The company recognized non-recurring gains of CNY 45.23 million in 2020, compared to CNY 41.97 million in 2019 [27]. Dividend Policy - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares to all shareholders, with the total cash dividend amount depending on the total number of shares registered on the dividend distribution date [5]. - The company has a cash dividend policy that mandates a minimum of 30% of the average distributable profit over the last three years to be distributed in cash, with a minimum of 10% of the current year's distributable profit [106]. - In 2020, the company distributed a cash dividend of RMB 1.0 per 10 shares, totaling RMB 97,608,390.20, which is consistent with the previous year's dividend of RMB 1.0 per 10 shares [110]. - The company reported a net profit attributable to ordinary shareholders of RMB 279,589,539.24 for the year 2020, with a cash dividend payout ratio of 34.91% [110]. - The company maintained a consistent dividend policy over the past three years, with cash dividends distributed in 2018, 2019, and 2020 [110]. Audit and Compliance - The company received a standard unqualified audit report from Da Xin Accounting Firm, ensuring the financial report's authenticity and completeness [4]. - The company has confirmed that all board members attended the board meeting, ensuring accountability for the annual report's content [8]. - The company has not encountered any significant accounting errors that would require correction or impact its financial statements [114]. - The company has adopted the new revenue recognition standards effective January 1, 2020, as mandated by the Ministry of Finance [113]. - The company has engaged Da Xin Accounting Firm for auditing services, with a remuneration of RMB 130,000 for the current year [115]. Market Position and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth [30]. - The company is positioned as a regional leader in the construction industry, with a strong market foundation in Ningbo and the Yangtze River Delta [71]. - The company aims to enhance its competitive edge by focusing on integrated services in construction, operation, and delivery, leveraging its strong capital and management capabilities [95]. - The company plans to implement a "one body, two wings" development strategy, focusing on general contracting and specialized subcontracting to drive growth [96]. - The company intends to strengthen its technological innovation and improve its competitive capabilities through high-difficulty project undertakings and enhanced research efforts [97]. Legal Matters - The company is currently involved in significant litigation matters, including a lawsuit against Xi Rui Real Estate for overdue payments totaling RMB 127,406,606.61 [117]. - The company has received a civil judgment requiring Xi Rui Real Estate to pay RMB 145,447,132.60, including principal and interest, along with legal fees and other costs [117]. - The company has filed an appeal against the judgment from the Zhejiang Provincial High People's Court regarding the aforementioned case [117]. - The company has received a civil judgment from the Supreme People's Court, confirming its priority right to recover 125,299,046 RMB in project payments, with cumulative collections amounting to 50,784,998.84 RMB as of the report date [118]. - The company has filed claims totaling 36,171,720 RMB in the bankruptcy liquidation case of Zhejiang Logistics, with the case accepted by the court in September 2020 [118]. Research and Development - Research and development expenses increased by 50.88% to 354 million RMB due to higher investment in R&D activities [50]. - The company obtained 10 invention patents and 80 utility model patents in 2020, enhancing its technological capabilities [39]. - The company is investing 200 million RMB in R&D for new construction technologies and sustainable building practices [181]. - The company is investing heavily in R&D, with a budget increase of 30% aimed at developing new technologies [186]. Employee and Governance - The total number of employees in the parent company is 37, while the main subsidiaries employ 5,511, resulting in a total of 5,548 employees [192]. - The board of directors consists of 11 members, including 4 independent directors, ensuring compliance with governance standards [198]. - The company held 11 board meetings in 2020, making timely disclosures of relevant decisions [198]. - The supervisory board has 5 members, including 2 employee representatives, and conducted 7 meetings in 2020 [199]. - The company has established a long-term mechanism to prevent the controlling shareholder from occupying company funds and assets [198]. Financial Structure and Debt - The company issued 540 million RMB in convertible bonds and 450 million RMB in medium-term notes to support infrastructure projects and repay bank loans [44]. - As of the end of the reporting period, the total debt of the company was RMB 14.828 billion, indicating an improvement in debt structure and enhanced risk resistance [162]. - The company maintained an AA credit rating from Dongfang Jincheng International Credit Rating Co., Ltd., with a stable outlook [162]. - The total amount of guarantees provided to shareholders, actual controllers, and their related parties is 6,000,000,000.00 RMB [141]. - The total amount of guarantees to subsidiaries during the reporting period is 8,562,500,000.00 RMB [141]. Community Engagement and Social Responsibility - The company has committed CNY 1.08 million for poverty alleviation efforts, including cash and material support [153]. - The company has established a CNY 10 million fund for charitable donations, contributing CNY 500,000 annually [156]. - The company donated CNY 1 million and protective materials for COVID-19 relief efforts [156].

Financial Performance - Total assets increased by 17.99% to CNY 18.61 billion compared to the end of the previous year[6] - Net assets attributable to shareholders rose by 20.04% to CNY 3.47 billion year-on-year[6] - Operating revenue for the first nine months reached CNY 14.02 billion, an increase of 11.77% compared to the same period last year[6] - Net profit attributable to shareholders was CNY 171.13 million, reflecting a growth of 9.17% year-on-year[6] - Net profit excluding non-recurring items increased by 19.58% to CNY 163.46 million[6] - The weighted average return on equity improved by 0.17 percentage points to 5.74%[6] - Basic earnings per share rose by 1.62% to CNY 0.1632[6] - The company reported a net cash flow from operating activities of CNY -84.69 million, an improvement from CNY -321.30 million in the previous year[6] Shareholder Information - The total number of shareholders reached 51,947[9] - The largest shareholder, Ningbo Transportation Investment Holding Co., Ltd., holds 29.92% of the shares[9] Asset Management - Accounts receivable increased by 56.97% to ¥835,480,539.01 compared to the previous period due to an increase in bill settlements[12] - Prepayments rose by 57.92% to ¥497,654,688.84, primarily due to increased advance payments for material procurement and subcontracting services[13] - Inventory decreased by 86.08% to ¥708,946,234.00, as completed but unsettled project payments are no longer included in inventory[13] - Contract assets reached ¥6,252,122,849.85, reflecting a new reporting category under the new accounting standards[12] Borrowings and Liabilities - Long-term borrowings increased to ¥214,000,000.00, attributed to new long-term loans taken during the period[14] - Long-term payables surged by 646.44% to ¥10,450,186.00, due to compensation received from government property expropriation[14] - Total liabilities rose to CNY 14.73 billion, compared to CNY 12.52 billion, reflecting an increase of about 17.6%[55] Research and Development - Research and development expenses grew by 73.71% to ¥228,858,929.36, driven by increased investment in R&D[15] - Other income increased by 66.71% to ¥9,903,979.65, mainly due to growth in government subsidies[15] Legal Proceedings and Claims - The company has received a total of 43,684,062.07 CNY from the lawsuit against Lanxi Xirui Real Estate Development Co., Ltd. as of September 2020, out of a claimed amount of 125,299,046 CNY[22] - The company has successfully collected 83,929,514.30 CNY from Ningbo Zhenhai Xinhengde Real Estate Development Co., Ltd. for construction work, with an outstanding ordinary debt of 7,198,000 CNY remaining[23] - The company has been awarded a total of 33,998,011 CNY in a lawsuit against Zhenjiang Shenguotou Commercial Real Estate Co., Ltd., including 3,920,000 CNY in construction fees and 363,430 CNY in overdue interest[26] - The company has confirmed a priority claim of 169,022,736 CNY against Ningbo Nannan Real Estate Co., Ltd. in bankruptcy proceedings, with 150,651,447.16 CNY received as of September 2020[29] - The company has been awarded 39,432,865 CNY in a lawsuit against Ningbo Qianhe Real Estate Co., Ltd., with a confirmation of priority claim on the auction proceeds of the project[30] - The company has initiated legal proceedings against Ningbo Xiangge Real Estate Development Co., Ltd. for an outstanding amount of 32,200,000 CNY, with a mediation agreement reached in June 2014[24] - The company has filed a lawsuit against Shenghongyong (Jiujiang) Industrial Development Co., Ltd. for a total of 21,834,785 CNY in claims, including 1,800,000 CNY in advance payment and 398,868 CNY in idle labor losses[25] - The company has claimed a total of 5,300,000 CNY from Ningbo Guanglong Real Estate Development Co., Ltd. for construction fees and related costs, with a subsequent lawsuit filed for 21,354,661 CNY and a penalty of 2,217,243 CNY[28] Cash Flow and Financial Management - The company reported a net cash outflow from operating activities of CNY -84,690,069.28 for the first three quarters of 2020, an improvement from CNY -321,302,445.49 in the same period of 2019[72] - The total cash inflow from financing activities in Q3 2020 was 1,364,865,094.34 RMB, compared to 836,362,000.00 RMB in Q3 2019, indicating a 63.1% increase[76] - The net cash flow from investing activities in Q3 2020 was 37,917,420.99 RMB, recovering from a negative cash flow of -289,013,100.37 RMB in Q3 2019[76] Contracts and Projects - The company signed significant contracts during the reporting period, including a ¥22,289.46 million contract for a residential project with Yuyao New Century Transportation Real Estate Co., Ltd.[48] - Another major contract worth ¥91,399 million was signed for a PPP project with Ninghai Hongshun Construction Co., Ltd.[49]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately CNY 9.15 billion, representing a 7.18% increase compared to CNY 8.54 billion in the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 119.19 million, a 1.80% increase from CNY 117.08 million year-on-year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 111.11 million, up 5.42% from CNY 105.40 million in the previous year[21]. - The net cash flow from operating activities was negative CNY 334.89 million, an improvement from negative CNY 807.10 million in the same period last year[21]. - The net assets attributable to shareholders at the end of the reporting period were CNY 3.36 billion, a 16.11% increase from CNY 2.89 billion at the end of the previous year[21]. - Total assets at the end of the reporting period reached CNY 18.46 billion, reflecting a 17.08% increase from CNY 15.77 billion at the end of the previous year[21]. - Basic earnings per share for the first half of the year were CNY 0.1157, a decrease of 3.50% compared to the same period last year[22]. - Diluted earnings per share also stood at CNY 0.1157, reflecting a 3.50% decline year-over-year[22]. - The weighted average return on equity decreased to 4.03%, down by 0.16 percentage points from the previous year[23]. Market Position and Strategy - The company has maintained a strong market presence in the construction sector, focusing on large-scale projects and comprehensive service offerings[27]. - The company has achieved a high brand recognition and reputation in the Ningbo market, having completed several landmark projects[29]. - The company holds multiple construction qualifications, including special-grade general contracting for housing construction and municipal public works[29]. - The company is strategically focusing on regional market expansion while enhancing its core competencies in construction and related services[28]. - The company has implemented a horizontal marketing system that integrates general contracting and specialized subcontracting[27]. - The construction industry remains a crucial pillar of the national economy, with the company positioned as a regional market leader[27]. Contracts and Projects - The company undertook a total of CNY 10.995 billion in construction contracts during the reporting period, marking a year-on-year increase of 26.06%[33]. - The company secured several high-value projects, including a CNY 4.5 billion contract for the Ningbo Chuangwei Double Intelligence and Innovation Industrial Park[34]. - The company signed a construction contract with a total amount of RMB 251.91 million for the Ningbo Hangzhou Bay New Area cultural and livable area project[87]. - A contract worth RMB 233.66 million was signed for the Ningbo Agricultural Products Logistics Center Phase II project[87]. - The company signed a total construction contract for the first phase of the Ningbo Skyworth Smart Industry Park with a contract amount of RMB 450 million[88]. Financial Management and Investments - The company’s R&D expenses increased by 80.67% year-on-year, amounting to CNY 111.67 million, primarily due to increased investment in research and development[37]. - The company reported a significant increase in research and development expenses, which rose to CNY 111,673,789.78 from CNY 61,810,369.78, reflecting an increase of 80.7%[121]. - The company issued convertible bonds totaling RMB 540 million, with a maturity of 6 years[95]. - The total guarantee amount provided by the company, including guarantees to subsidiaries, is RMB 2,549.44 million, which accounts for 67.84% of the company's net assets[88]. Legal and Compliance Issues - The company has ongoing significant litigation matters, including a lawsuit against Lankai Xirui Real Estate Development Co., Ltd. for overdue payments totaling approximately ¥127.41 million[68]. - The court ruled that Lankai Xirui must pay the company ¥125.30 million plus interest of ¥20.15 million, totaling ¥145.45 million, along with additional fees[68]. - The company has filed an appeal against the court's decision regarding the aforementioned payment[68]. - The company has received a civil judgment from the Supreme People's Court confirming its priority right to recover 125,299,046 CNY in project payments, with a total of 43,684,062.07 CNY collected to date[69]. - The company has initiated legal proceedings against Ningbo Jiayuan Real Estate Development Co., Ltd. for 57,437,909.45 CNY in overdue project payments, with a court ruling allowing for priority recovery from auction proceeds[69]. Risk Management - Risks identified include macroeconomic fluctuations affecting the construction industry and potential increases in accounts receivable due to market conditions[59]. - The company plans to enhance its cost control systems to mitigate risks from raw material price fluctuations[60]. - The company is focusing on expanding its business outside of Ningbo to counteract local market slowdowns[60]. - Legal risks related to project funding and quality disputes are being addressed through improved project management and legal awareness[61]. Shareholder and Equity Information - No profit distribution or capital reserve fund transfer plan proposed for the half-year period[65]. - The top shareholder, Ningbo Transportation Investment Holding Co., Ltd., holds 292,000,000 shares, representing 29.92% of the total shares[104]. - Zhejiang Guangtian Riyue Group Co., Ltd. holds 85,100,000 shares, accounting for 8.72% of the total shares[104]. - The total equity attributable to shareholders increased to CNY 2,445,120,546.53 from CNY 2,033,725,379.57, representing a growth of 20.3%[119]. Operational Efficiency and Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[135]. - Future guidance suggests a cautious optimism with expected revenue growth in the upcoming quarters, driven by strategic initiatives and market expansion[135]. - The company is exploring potential mergers and acquisitions to further strengthen its market position and diversify its offerings[135].

Financial Performance - Operating revenue for the first quarter was CNY 4,947,249,140.02, down 1.29% year-on-year[5] - Net profit attributable to shareholders of the listed company was CNY 54,535,772.50, a decrease of 24.56% compared to the same period last year[5] - Basic and diluted earnings per share were both CNY 0.0580, down 22.46% year-on-year[5] - The net profit for Q1 2020 was CNY 53,407,820.80, compared to CNY 74,626,802.84 in Q1 2019, indicating a decrease of about 28.4%[46] - The total comprehensive income for Q1 2020 was CNY 62,654,921.09, compared to CNY 75,342,315.97 in Q1 2019, a decrease of approximately 16.8%[46] - The company reported a net profit of CNY 79,970,397.66 for Q1 2020, down from CNY 106,838,374.47 in Q1 2019, indicating a decrease of 25.2%[45] Assets and Liabilities - Total assets at the end of the reporting period were CNY 15,691,101,812.51, a decrease of 0.49% compared to the end of the previous year[5] - The company reported a total current asset of 13,180,846,145.68 CNY as of March 31, 2020, compared to 13,260,614,972.93 CNY at the end of 2019[37] - The total liabilities amounted to 11,876,419,177.14 CNY as of March 31, 2020, down from 12,488,542,290.91 CNY at the end of 2019[38] - Total liabilities as of March 31, 2020, amounted to CNY 11,904,005,505.98, compared to CNY 12,516,331,077.91 at the end of 2019[42] - Total assets as of March 31, 2020, were CNY 15,691,101,812.51, slightly down from CNY 15,768,762,657.39 at the end of 2019[42] - The total liabilities to equity ratio is approximately 3.85, indicating a high leverage level[58] Cash Flow - The net cash flow from operating activities was CNY -491,767,361.93, compared to CNY -150,413,985.05 in the same period last year, showing a worsening cash flow situation[5] - Cash inflows from operating activities in Q1 2020 totaled CNY 5,450,305,440.04, a decrease from CNY 5,925,348,689.99 in Q1 2019, representing a decline of about 8%[51] - The total cash outflow for purchasing goods and services in Q1 2020 was CNY 4,751,208,250.27, down from CNY 5,502,344,088.41 in Q1 2019, reflecting a decrease of about 13.6%[51] - The total cash inflow from operating activities in Q1 2020 was 270,858,996.04 RMB, significantly higher than 137,027,035.32 RMB in Q1 2019, suggesting enhanced operational efficiency[53] - The net cash flow from operating activities for Q1 2020 was -114,404,163.06 RMB, compared to -14,792,492.16 RMB in Q1 2019, indicating a significant decline in operational cash flow[53] Expenses and Costs - Total operating costs for Q1 2020 were CNY 4,860,950,830.41, down from CNY 4,895,307,028.87 in Q1 2019, reflecting a reduction of 0.7%[45] - The company incurred operating costs of CNY 87,314,595.05 in Q1 2020, compared to CNY 20,262,067.73 in Q1 2019, indicating a substantial increase in costs[48] - Sales expenses decreased by 33.07% compared to the same period last year, primarily due to a decline in sales volume from a subsidiary[12] Investments and Contracts - The company signed a major contract with Ningbo Xiangyuan Tourism Development Co. for a total amount of 251,910,000 CNY[34] - Another significant contract was signed with Ningbo Agricultural Products Logistics Center for 233,663,400 CNY[34] - The company has reached a settlement with Jiayuan Real Estate, resulting in partial payment of the owed amount of 57,437,909.45 CNY[33] Legal Matters - The company is involved in multiple ongoing litigation cases related to construction contracts, with significant amounts of receivables pending from various parties, including 440,195,892.82 yuan from Zhejiang Huayue Real Estate Co., Ltd.[14] - The company has a confirmed priority claim of 169,022,736 yuan against Nannan Real Estate due to bankruptcy proceedings[20] - The company has filed a lawsuit against Qianhe Real Estate for a total of 88,697,513.21 yuan in overdue payments and interest[20] - The company has a court ruling requiring Ningbo Jindi Real Estate Co., Ltd. to pay RMB 16,166,538 in construction fees and interest, with ongoing enforcement actions[23] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters to enhance revenue growth[45] - The company implemented a new revenue recognition standard starting January 1, 2020, affecting various financial statement items[59]

Financial Performance - The company's operating revenue for 2019 was approximately ¥18.56 billion, representing a year-over-year increase of 19.39% compared to ¥15.54 billion in 2018[22]. - The net profit attributable to shareholders for 2019 was approximately ¥240.28 million, an increase of 9.44% from ¥219.55 million in 2018[22]. - The basic earnings per share for 2019 was ¥0.2462, reflecting a growth of 9.47% compared to ¥0.2249 in 2018[23]. - The total assets at the end of 2019 amounted to approximately ¥15.77 billion, an increase of 8.08% from ¥14.59 billion at the end of 2018[22]. - The net cash flow from operating activities for 2019 was approximately ¥1.14 billion, up 11.12% from ¥1.02 billion in 2018[22]. - The company achieved a weighted average return on equity of 8.52% in 2019, an increase of 0.27 percentage points from 8.25% in 2018[23]. - The company reported a significant increase in sales expenses by 81.52% due to the growth in sales revenue from its subsidiary Guangtian Components[49]. - The company achieved an annual operating income of 18.555 billion RMB, representing a year-on-year growth of 19.39%, and a net profit of 252 million RMB, up 15.47% year-on-year[47]. Dividend Policy - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares, totaling 97,608,000.00 RMB based on a total share capital of 976,080,000 shares[5]. - The company implemented a cash dividend policy, distributing a total of 68,325,600.00 RMB in cash dividends for the year 2018, based on a share capital of 976,080,000 shares, resulting in a dividend of 0.70 RMB per 10 shares[117]. - The company’s profit distribution policy mandates that cash dividends should not exceed 30% of the average distributable profit over the last three years, with a minimum of 10% of the current year's distributable profit allocated to cash dividends[116]. - In 2019, the company reported a net profit attributable to ordinary shareholders of 240,275,854.68 RMB, with a dividend payout ratio of 40.62%[119]. - The company’s cash dividend distribution is contingent upon positive cash flow from operating activities for at least two consecutive years; otherwise, high cash dividends will not be issued[117]. - The company’s board of directors is required to consider industry characteristics, development stage, and major capital expenditure plans when proposing cash dividend policies[116]. - The company has a policy to prioritize cash dividends over stock dividends, aiming for a minimum of 80% cash distribution during mature stages without major capital expenditures[116]. - The company has not proposed any cash profit distribution plan during the reporting period despite having positive distributable profits[120]. Audit and Compliance - The company has received a standard unqualified audit report from Da Xin Certified Public Accountants[4]. - The company has appointed Da Xin Certified Public Accountants as its accounting firm, with certified public accountants Shu Ming and Ding Xiaoying signing the audit report[20]. - The company has not reported any instances of fund occupation or overdue receivables during the reporting period[122]. - The company has not experienced any significant accounting errors that require correction[125]. - The company is committed to minimizing related party transactions and ensuring compliance with legal regulations[121]. - The company has undergone changes in accounting policies due to new financial instrument standards issued by the Ministry of Finance[123]. - The changes in accounting policies do not have a substantial impact on the company's total assets, net assets, or operating results[124]. Market Position and Strategy - The company plans to expand its market presence by focusing on large projects and enhancing brand recognition through successful implementation of high-profile projects[32]. - The company is positioned as a regional leader in the construction industry, with a focus on the Yangtze River Delta, benefiting from local economic activity and a solid market foundation[72]. - The company aims to enhance its development quality and efficiency, focusing on optimizing its industrial structure and promoting management upgrades, with a strategy centered on general contracting in housing and municipal construction[106]. - The company plans to strengthen its total contracting capabilities and expand into new markets, particularly in areas such as rail transit, integrated pipe corridors, and sponge city projects[110]. - The company will continue to implement a "going out" strategy, actively exploring and expanding regional markets to create new profit growth points[109]. Legal Matters and Litigation - The company has a significant ongoing lawsuit against Xirui Real Estate for a total claim of CNY 127,406,606.61, with a court ruling requiring payment of CNY 145,447,132.60 including interest[126]. - The company is actively involved in litigation to secure overdue payments from various clients, including Century Huafeng, which owes CNY 5,718,395 plus interest[127]. - The company has outstanding construction payments totaling CNY 38,371,720, with a daily penalty interest rate of 0.05% applied for overdue payments[127]. - The company is pursuing legal action against Ningbo Jiayuan Real Estate for overdue payments amounting to CNY 57,437,909.45, along with interest[128]. - The company has filed multiple lawsuits to recover overdue payments, indicating ongoing cash flow challenges[128]. Research and Development - The company received 3 new invention patents and 73 utility model patents in 2019, enhancing its technological capabilities[39]. - Research and development efforts resulted in the acquisition of 3 invention patents, 73 utility model patents, and 11 software copyrights, with a total of 5 national high-tech enterprises now owned by the company[45]. - The company’s research and development expenses increased by 41.66% compared to the previous year, reflecting a higher investment in innovation[49]. - Research and development expenditures increased by 25%, totaling 150 million RMB, to support new technology initiatives[183]. Social Responsibility - The company provided a total of RMB 1.61 million in assistance for poverty alleviation efforts in 2019, including funding for collective economic development in local villages[156]. - The company established a RMB 10 million fund for charitable donations, contributing RMB 500,000 annually[156]. - The company is actively involved in social responsibility initiatives, focusing on the rights and interests of stakeholders and contributing to regional economic development[158]. - The company has committed to improving employee working conditions as part of its social responsibility efforts[158]. - The company donated 1 million RMB in cash and protective materials to fight the COVID-19 pandemic[160]. Employee and Management Structure - The total number of employees in the parent company is 38, while the main subsidiaries employ 4,555, resulting in a total of 4,593 employees[192]. - The company has implemented a salary structure that includes basic salary, performance pay, and special rewards, ensuring competitive compensation[193]. - The company has a training program aimed at enhancing the skills of middle and senior management as well as general staff, fostering a learning organization[194]. - The company has a diverse board with members holding various significant positions in other companies, indicating a strong network and potential for strategic partnerships[179]. - The company has maintained stable shareholding among key executives, suggesting confidence in the company's future performance[178]. Shareholding and Governance - The largest shareholder, Ningbo Transportation Investment Holding Co., Ltd., holds 292 million shares, accounting for 29.92% of total shares[167]. - The company has a structured decision-making process for remuneration, ensuring transparency and accountability in compensation practices[188]. - The board of directors was re-elected due to a change in control, forming a new board with 11 members, including 4 independent directors[198]. - The supervisory board also underwent re-election, consisting of 5 members, including 2 employee representatives, ensuring compliance and oversight[199]. - The company has adhered to regulations regarding information disclosure, ensuring transparency and accuracy in its communications[199].

Financial Performance - Net profit attributable to shareholders rose by 3.06% to CNY 156,751,753.36 for the first nine months of the year[6] - Operating revenue for the first nine months increased by 15.36% to CNY 12,541,211,339.23 compared to the same period last year[6] - Basic and diluted earnings per share increased by 3.08% to CNY 0.1606[7] - The company reported a decrease of 2.38% in net profit after deducting non-recurring gains and losses, totaling CNY 136,690,419.26[6] - The company's net profit for the first three quarters of 2019 was CNY 12,541,211,339.23, compared to CNY 10,871,036,795.79 in the same period of 2018, representing an increase of about 15.3%[60] - The net profit for Q3 2019 was 41,619,296.64, a decrease of 7.8% compared to 45,014,739.67 in Q3 2018[61] - The total profit for Q3 2019 was 63,211,114.97, down from 78,766,470.69 in the same quarter last year, representing a decline of 19.7%[61] - The total comprehensive income for Q3 2019 was 32,834,037.64, down from 45,455,877.85 in Q3 2018, indicating a decline of 28%[63] Assets and Liabilities - Total assets increased by 5.63% to CNY 15,412,386,341.12 compared to the end of the previous year[6] - The company's total assets amounted to CNY 15.41 billion, compared to CNY 14.59 billion at the end of 2018[56] - The total liabilities of the company reached CNY 12.25 billion, up from CNY 11.56 billion at the end of 2018[56] - Current liabilities reached ¥11,378,448,495.70, primarily driven by short-term borrowings of ¥3,801,734,019.73 and accounts payable of ¥4,566,828,849.61[72] - Total liabilities were reported at ¥11,557,007,115.32, with non-current liabilities accounting for ¥178,558,619.62[73] - The total current assets were ¥586,950,986.94, with cash and cash equivalents at ¥98,993,336.09[75] Cash Flow - Net cash flow from operating activities improved significantly, with a reduction in outflow to CNY -321,302,445.49 from CNY -443,709,244.70 year-on-year[6] - The cash flow from operating activities for the first three quarters of 2019 was -321,302,445.49 CNY, an improvement from -443,709,244.70 CNY in the same period of 2018[66] - The total cash inflow from operating activities in Q3 2019 was CNY 74,875,414.01, a decrease from CNY 264,022,202.39 in Q3 2018[69] - The net cash flow from investment activities was CNY -289,013,100.37, a significant decline from CNY 146,367,025.32 in the first three quarters of 2018[69] - Cash inflows from financing activities amounted to CNY 836,362,000.00, an increase from CNY 610,000,000.00 in the same period of 2018[69] Shareholder Information - The total number of shareholders reached 43,577 by the end of the reporting period[11] - Zhejiang Guangtian Riyue Group Co., Ltd. holds 38.63% of the shares, with 179,411,838 shares pledged[11] Income and Expenses - Non-operating income for the period amounted to CNY 8,385,587.38, down from CNY 20,061,334.10 in the previous year[10] - Sales expenses grew by 36.32% to CNY 42,499,994.24, mainly due to reclassification of transportation costs from manufacturing costs to sales expenses[15] - The company's management expenses for the first three quarters of 2019 were 15,539,543.17 CNY, compared to 4,672,136.50 CNY in Q3 2018, indicating increased operational costs[64] Legal and Settlement Matters - The company is involved in a construction contract dispute with Ningbo Edims Sports Goods Co., Ltd., with a court ruling for payment of CNY 45,517,598.82, currently in execution proceedings[18] - The company has a settlement agreement with Jilin Baishan Hefeng Real Estate Co., Ltd., involving a compensation of CNY 38,464,504.00, but complications have arisen due to property rights issues[19] - The company has a civil judgment from Ningbo Intermediate People's Court requiring Zhejiang Huayue to pay construction fees of ¥440,195,892.82 and a performance bond of ¥9,000,000, along with interest calculated from July 4, 2014[20] - The company has received a civil judgment from Jinhua Intermediate People's Court ordering Xirui Real Estate to pay a total of ¥145,447,132.60, which includes construction fees of ¥125,299,046 and interest of ¥20,148,086.60[23] Investment and Development - The company signed a significant contract with Ningbo Wanjun Real Estate Co., Ltd. for the Ningbo Vanke Golden Logistics Project, amounting to CNY 655.98 million[51] - A contract was signed with Ningbo City Ring Expressway Connection Line Construction Co., Ltd. for the Century Avenue Expressway project, valued at CNY 295.55 million[51]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 8,535,964,684.50, representing an increase of 11.44% compared to CNY 7,659,398,331.02 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 117,077,859.28, up by 5.26% from CNY 111,223,279.81 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 105,402,112.56, reflecting a 2.71% increase from CNY 102,616,149.85 year-on-year[17]. - Basic earnings per share increased by 5.27% to CNY 0.1199 from CNY 0.1139[19]. - Diluted earnings per share also rose by 5.27% to CNY 0.1199 from CNY 0.1139[19]. - The company reported a total of 1,301,626.8 in retained earnings, with a year-on-year increase of 6.37%[129]. - The total comprehensive income for the period is 28,034,000, reflecting a decrease of 306,200.12 compared to the previous period[125]. Cash Flow - The net cash flow from operating activities was negative at CNY -807,097,253.33, compared to CNY -450,767,348.58 in the same period last year, indicating a decline in cash flow[17]. - Operating cash inflow totaled CNY 9.31 billion, an increase from CNY 8.69 billion year-over-year[118]. - Operating cash outflow amounted to CNY 10.12 billion, compared to CNY 9.14 billion in the previous year[118]. - The ending cash and cash equivalents balance was CNY 1.53 billion, down from CNY 2.33 billion in the previous year[119]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 15,614,543,010.00, which is a 7.02% increase from CNY 14,590,520,547.35 at the end of the previous year[17]. - The total liabilities reached RMB 12,498,429,892.06, compared to RMB 11,557,007,115.32 at the end of 2018, marking an increase of approximately 8.15%[103]. - The company's equity attributable to shareholders was RMB 2,782,623,671.45, slightly up from RMB 2,734,711,504.82, showing a growth of about 1.75%[103]. - The company's total equity, including minority interests, was RMB 3,116,113,117.94, an increase from RMB 3,033,513,432.03, indicating a growth of approximately 2.73%[103]. Investments and Projects - The company undertook a total contract value of RMB 8.722 billion in construction projects during the reporting period, a decrease of 13.27% year-on-year, with the building engineering business accounting for 56.33% of the total[30]. - The company secured several significant projects, including a contract for RMB 4.73 billion for the Ningbo Pujihospital and RMB 3.9 billion for the Fuzhou North Railway Station road improvement project[31]. - The company plans to increase its investment in its construction groups, with a total of RMB 5.5 billion allocated to enhance the capabilities of its three major contracting platforms[32]. Legal and Compliance Issues - The company is facing risks related to macroeconomic fluctuations, accounts receivable, raw material price volatility, market expansion, litigation, and tax policy changes[54][55][56]. - The company is involved in a significant lawsuit regarding a claim of 145,447,132.60 yuan against a related party, with ongoing legal proceedings[62]. - The company has initiated legal proceedings against Ningbo Qianhe Real Estate Co., Ltd. for a total claim of RMB 24,290,785.78, including project progress payments and interest[67]. - The company has filed a lawsuit against Ningbo Ridi Solar Power Co., Ltd. for unpaid municipal project payments totaling ¥14,792,088, with an additional claim of ¥17,428,138 currently under litigation[69]. Corporate Governance - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[4]. - The company held its annual shareholders' meeting on May 17, 2019, where all proposed resolutions were approved[58]. - The company has committed to not engage in any direct or indirect competition with its own business, ensuring compliance with this commitment over the long term[60]. Market Position and Strategy - The company aims to enhance its market position by optimizing its business structure and expanding its operational capabilities[25]. - The company focuses on regional market development, having built several landmark buildings in Ningbo[26]. - The company has a complete and compact industrial chain covering surveying, design, construction, and installation[26]. Risk Management - The report includes a risk statement indicating that future operational outlooks are based on current macroeconomic policies and market conditions, and do not constitute performance commitments[4]. - The company has outlined a plan to address any issues arising from the asset transfer, ensuring accountability for any potential liabilities[60]. Environmental and Social Responsibility - The company actively supports poverty alleviation efforts in Ningbo City through various means, including project assistance and financial support[85]. - The company and its subsidiaries comply with national environmental protection laws and regulations, ensuring strict adherence to environmental management practices[87].