Financial Performance - The company's operating revenue for Q3 2021 was ¥59,388,515.98, a decrease of 52.42% compared to the same period last year[2] - The net profit attributable to shareholders was -¥29,523,761.00, reflecting a decline of 852.51% year-over-year[2] - The net profit after deducting non-recurring gains and losses was -¥30,300,452.74, down 1,139.60% from the previous year[2] - The basic earnings per share for the period was -¥0.09, a decrease of 853.41% year-over-year[2] - The weighted average return on equity was -2.66%, a decrease of 3.01 percentage points compared to the previous year[2] - The net profit attributable to shareholders for the current period is -852.51 million, primarily due to a decline in operating income while fixed expenses such as salaries, depreciation, and financing interest could not decrease proportionally[8] - The net profit attributable to shareholders excluding non-recurring gains and losses for the current period is -1,139.60 million, reflecting a significant drop in operating income[8] - Basic earnings per share for the current period is -853.41, a decrease of 852.51 million compared to the same period last year[8] - Diluted earnings per share for the current period is -979.38, also reflecting a decline due to the drop in net profit[8] - The net profit attributable to shareholders from the beginning of the year to the end of the reporting period is -1,477.98 million, largely due to the same factors affecting the current period[8] - The net profit attributable to shareholders excluding non-recurring gains and losses from the beginning of the year to the end of the reporting period is -2,138.75 million, indicating a substantial decline[8] - Basic earnings per share from the beginning of the year to the end of the reporting period is -1,333.16, reflecting a significant decrease in net profit compared to the previous year[8] - Diluted earnings per share from the beginning of the year to the end of the reporting period is -1,333.18, consistent with the decline in net profit[8] - The company reported a net loss of CNY 87,189,927.36 for the first three quarters of 2021, compared to a profit of CNY 9,158,692.49 in the same period of 2020[19] - The net profit attributable to the parent company for Q3 2021 was -82,802,661.50 RMB, compared to a profit of 6,008,986.79 RMB in Q3 2020, indicating a significant decline[21] - The total comprehensive income for the parent company in Q3 2021 was -82,802,661.50 RMB, reflecting a decrease from the previous year's figure[21] - The basic and diluted earnings per share for Q3 2021 were both -0.25 RMB, compared to 0.02 RMB in Q3 2020[21] Cash Flow and Assets - The cash flow from operating activities for the year-to-date was ¥156,268,791.59, an increase of 177.51%[2] - Cash inflows from operating activities totaled 641,779,031.12 RMB in the first nine months of 2021, up from 613,885,748.26 RMB in the same period of 2020[22] - Cash outflows from operating activities decreased to 485,510,239.53 RMB in the first nine months of 2021, compared to 815,498,257.63 RMB in the same period of 2020[23] - The net cash flow from operating activities for the first nine months of 2021 was 156,268,791.59 RMB, a recovery from a negative cash flow of -201,612,509.37 RMB in the same period of 2020[23] - The net cash flow from investing activities for the first nine months of 2021 was -25,764,007.17 RMB, an improvement from -118,636,933.78 RMB in the same period of 2020[23] - The net cash flow from financing activities in the first nine months of 2021 was -278,075,406.37 RMB, compared to a positive cash flow of 252,821,616.20 RMB in the same period of 2020[23] - The ending cash and cash equivalents balance as of Q3 2021 was 19,828,213.85 RMB, down from 196,572,707.85 RMB at the end of Q3 2020[23] - Total assets at the end of the reporting period were ¥3,244,690,004.76, a decrease of 13.50% from the end of the previous year[3] - Total assets as of September 30, 2021, were CNY 3,244,690,004.76, a decrease from CNY 3,750,959,774.84 at the end of 2020[15] - Total liabilities as of September 30, 2021, were CNY 2,097,228,454.46, down from CNY 2,512,318,299.03 at the end of 2020[15] - Cash and cash equivalents as of September 30, 2021, were CNY 63,849,557.52, compared to CNY 172,459,341.55 at the end of 2020[14] - Accounts receivable as of September 30, 2021, were CNY 424,279,778.87, a decrease from CNY 488,488,948.69 at the end of 2020[14] - Inventory as of September 30, 2021, was CNY 116,923,084.00, down from CNY 124,040,841.45 at the end of 2020[14] Operating Performance - The significant decline in operating revenue was primarily due to the delay in the commencement of the Suiping County Kuaiwang River water environment comprehensive governance project[7] - Operating revenue from the beginning of the year to the end of the reporting period is -57.92%, significantly impacted by delays in project execution and reduced cash flow due to decreased bank loans[8] - Total operating revenue for the first three quarters of 2021 was CNY 166,004,945.19, a decrease of 57.92% compared to CNY 394,519,033.72 in the same period of 2020[18] - Total operating costs for the first three quarters of 2021 were CNY 296,132,166.62, down 27.73% from CNY 409,845,608.46 in 2020[19] - Operating profit for the first three quarters of 2021 was a loss of CNY 87,371,291.79, compared to a profit of CNY 10,269,024.40 in the same period of 2020[19] - The company did not report any net profit from subsidiaries prior to consolidation in Q3 2021, consistent with the previous year[21]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥106,616,429.21, a decrease of 60.47% compared to ¥269,707,341.88 in the same period last year[20]. - The net profit attributable to shareholders was -¥53,278,900.50, representing a decline of 2,654.62% from ¥2,085,590.99 in the previous year[20]. - Basic earnings per share were -¥0.16, a decrease of 1,700.00% compared to ¥0.01 in the same period last year[21]. - The company's gross profit margin for the first half of 2021 was approximately -79.5%, compared to a positive margin in the first half of 2020[123]. - The net profit for the first half of 2021 was a loss of CNY 57,076,968.13, compared to a loss of CNY 2,925,702.76 in the same half of 2020[124]. - The total comprehensive income for the first half of 2021 was a loss of CNY 57,076,968.13, compared to a loss of CNY 2,925,702.76 in the same period of 2020[127]. Cash Flow - The net cash flow from operating activities increased by 180.80% to ¥99,446,758.35, compared to -¥123,078,867.53 in the same period last year[20]. - The cash inflow from operating activities for the first half of 2021 was CNY 531,515,807.75, an increase from CNY 433,081,245.96 in the first half of 2020[129]. - The net cash flow from operating activities for the first half of 2021 was ¥110,991,747, compared to a negative cash flow of ¥103,545,108 in the same period of 2020, indicating a significant improvement[132]. - Cash and cash equivalents decreased to ¥86,654,865.37, primarily due to repayment of bank loans during the reporting period[44]. - The ending balance of cash and cash equivalents was ¥39,397,316, down from ¥117,549,695 at the end of the first half of 2020[132]. Assets and Liabilities - The total assets decreased by 11.89% to ¥3,305,004,967.60 from ¥3,750,959,774.84 at the end of the previous year[20]. - The company's total liabilities were RMB 2.13 billion as of June 30, 2021, down from RMB 2.51 billion at the end of 2020[117]. - The company's equity attributable to shareholders was RMB 1.12 billion, a decrease from RMB 1.18 billion at the end of 2020[117]. - The company's long-term receivables decreased by 54.38% to ¥237,854,357.71, mainly due to the collection of long-term receivables from various projects[44]. - The total amount of non-operating funds occupied by the controlling shareholder and other related parties at the end of the reporting period was RMB 92.043 million, with a repayment plan set for December 31, 2021[74]. Project Execution and Management - The decline in revenue was primarily due to delays in project execution, particularly the Wuhan Net Security project and the Suiping County project, which affected income recognition[20]. - The company has established a comprehensive management system to ensure effective project execution and quality control[30]. - The company aims to enhance project quality through management-driven approaches and hardware monitoring[24]. - The company has implemented a three-tier quality management process to ensure project quality and accountability[32]. - The company signed a total of 131 construction and design contracts with a total value of 443.60 million RMB during the reporting period[35]. Strategic Initiatives - The company focuses on a complete green ecological industry chain, providing comprehensive services from green investment to operation[24]. - The company plans to optimize its financing structure and explore diversified financing channels to support future growth[36]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $200 million allocated for potential deals[67]. - The company aims to strengthen project management and cost control through improved bidding processes and enhanced project management practices[35]. - The company has established partnerships with state-owned enterprises and leading industry players to enhance its service offerings in various projects[38]. Shareholder and Equity Information - The actual controller and shareholders committed to not transferring or entrusting their shares for 36 months post-IPO[65]. - The company will repurchase shares if the prospectus contains false statements or omissions, with a buyback price based on the issuance price plus interest[65]. - The company reported a total of 63,478,807.49 RMB in other comprehensive income at the end of the period[139]. - The total owner's equity at the end of the current period was 1,179,237,330.80, compared to 1,178,860,481.14 at the beginning of the year[134]. - The company has not provided any guarantees for shareholders, actual controllers, or their related parties during the reporting period[85]. Compliance and Governance - The company has established a multi-tier governance structure, including a shareholders' meeting, board of directors, and supervisory board[160]. - The company adheres to the relevant accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[165]. - The company is focused on managing goodwill impairment risks associated with its investments and has implemented measures to enhance subsidiary management[50]. - The management emphasized the importance of maintaining compliance with regulatory standards to avoid potential legal issues in the future[67]. - The company has not fully complied with the decision-making procedures for the non-operating fund occupation by the controlling shareholder and other related parties[74]. Market Outlook and Growth - The ecological construction industry is expected to grow significantly, driven by national policies and a focus on sustainable development[28]. - The sports industry is projected to reach a total scale of RMB 2 trillion by 2025, with the company actively participating in sports event planning and tourism development[29]. - The company provided an optimistic outlook for the next quarter, projecting revenue growth of 25% and aiming for $1.875 billion[67]. - New product launches are expected to contribute an additional $300 million in revenue over the next fiscal year[67]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[146].

Financial Performance - In 2020, the company's operating revenue was CNY 572,030,486.72, a decrease of 53.67% compared to CNY 1,234,675,416.45 in 2019[22] - The net profit attributable to shareholders was CNY 21,543,319.31, down 77.88% from CNY 97,392,981.19 in the previous year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 5,394,430.68, a decline of 85.73% compared to CNY 37,809,106.11 in 2019[22] - The net cash flow from operating activities was negative CNY 130,522,833.01, a significant drop from positive CNY 18,396,561.97 in 2019, representing a decrease of 809.50%[22] - Basic earnings per share decreased by 79.31% to CNY 0.06 compared to CNY 0.29 in the previous year[23] - Net profit attributable to shareholders decreased by 77.88%, primarily due to a decline in operating revenue[24] - Operating revenue decreased by 53.67% year-on-year, significantly impacted by the Wuhan cybersecurity project and the pandemic[23] - Net cash flow from operating activities decreased by 809.50%, attributed to reduced project payments due to the pandemic[24] Assets and Liabilities - As of the end of 2020, the net assets attributable to shareholders were CNY 1,178,860,481.14, an increase of 1.87% from CNY 1,157,244,563.81 at the end of 2019[22] - Total assets at the end of 2020 were CNY 3,750,959,774.84, a slight increase of 0.64% from CNY 3,727,181,795.25 in 2019[22] - The total liabilities increased from RMB 2,473,865,819.36 to RMB 2,512,318,299.03, resulting in a debt-to-asset ratio increase from 66.37% to 66.98%[175] Cash Flow Management - The company reported a significant decline in cash flow from operating activities, with a net cash flow of -CNY 130.52 million, a decrease of 809.50% year-on-year[53] - The company’s financing activities resulted in a net cash flow of CNY 197.25 million, a decrease of 18.62% year-on-year due to increased bank loan repayments[55] - Cash and cash equivalents decreased by 42.87% to CNY 172.46 million, down from CNY 301.88 million due to repayment of bank loans[71] - The company is committed to maintaining effective cash flow management and optimizing accounts receivable management for long-term stability[100] Project Management and Development - The company aims to expand its business in ecological construction, which is expected to grow despite pandemic impacts[33] - The company is focusing on integrating design, construction, and operational planning to enhance project quality and efficiency[34] - The company has strengthened its internal management system, enhancing professional talent reserves and exploring innovative cooperation models with government and financial institutions to increase market share[38] - The company has focused on project management and cost control, improving the scientific and rational nature of bid preparation and enhancing project precision management[45] Strategic Initiatives - The company aims to become the most respected builder and operator of ecological civilization in China, focusing on "big ecology, big health, and big environmental protection" as its strategic core[99] - The company plans to fill market gaps in the southwest and northwest regions of China, ensuring stable operational efficiency[100] - The company is exploring public-private partnership models to enhance operational stability and resource utilization[95] - The integration of information technology in project management is expected to improve efficiency and reduce costs in engineering construction[96] Shareholder and Governance Matters - The cash dividend distribution plan for 2020 includes a cash dividend of 1 RMB (including tax) for every 10 shares, which was approved and implemented on June 16, 2020[110] - The company has a cash dividend policy that mandates a minimum distribution of 10% of the distributable profit when profitable, with flexibility for stock dividends based on growth and capital needs[109] - The company’s commitment to maintaining shareholder value includes strict adherence to lock-up agreements and share transfer limitations[115] - The company’s board of directors is responsible for determining the remuneration policies based on performance and contribution[198] Environmental and Social Responsibility - The company emphasizes a commitment to green building practices, aiming to reduce energy consumption and environmental impact through sustainable construction methods[155] - The company donated 1 million RMB to the Red Cross for pandemic relief efforts, along with additional donations of 200,000 RMB and 20,000 medical masks to local governments[156] - The company provided employment opportunities for 11 impoverished individuals through its poverty alleviation project, contributing 132,000 RMB in vocational training[150][152] Risks and Challenges - The company anticipates potential risks regarding the continuation of the Wuhan Cyber Security project due to the pandemic's impact on the construction schedule[80] - The company faces strategic risks due to changes in market competition and is implementing measures to align its strategic goals across subsidiaries[103] Financial Instruments and Investments - The company issued convertible bonds with a total face value of CNY 330 million, with a term of 6 years[47] - The company has engaged in cash asset management through entrusted financial management, with details to be disclosed[142] - The company has invested a total of 170 million RMB in bank wealth management products, with no overdue amounts reported[143] Audit and Compliance - The company’s financial statements are subject to a non-standard audit opinion due to the inability to obtain sufficient evidence regarding the management's assessment of credit/asset impairment losses[124] - The company has committed to ensuring that the information disclosed in the fundraising prospectus is true, accurate, and complete[123]

Financial Performance - The company's operating revenue for 2020 was CNY 572,030,486.72, a decrease of 53.67% compared to CNY 1,234,675,416.45 in 2019[22] - The net profit attributable to shareholders for 2020 was CNY 21,543,319.31, down 77.88% from CNY 97,392,981.19 in the previous year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 5,394,430.68, a decline of 85.73% compared to CNY 37,809,106.11 in 2019[22] - The net cash flow from operating activities was negative CNY 130,522,833.01, a significant decrease from positive CNY 18,396,561.97 in 2019, representing a decline of 809.50%[22] - Basic earnings per share decreased by 79.31% to CNY 0.06 compared to CNY 0.29 in the previous year[23] - Net profit attributable to shareholders decreased by 77.88%, primarily due to a decline in operating revenue[24] - Operating revenue decreased by 53.67% year-on-year, significantly impacted by the Wuhan cybersecurity project and the pandemic[23] - Net cash flow from operating activities decreased by 809.50%, attributed to reduced project payments due to the pandemic[24] - The weighted average return on equity decreased by 6.85 percentage points to 1.89%[23] Assets and Liabilities - The net assets attributable to shareholders at the end of 2020 were CNY 1,178,860,481.14, an increase of 1.87% from CNY 1,157,244,563.81 at the end of 2019[22] - Total assets at the end of 2020 were CNY 3,750,959,774.84, a slight increase of 0.64% from CNY 3,727,181,795.25 in 2019[22] - The company reported a total of 10 completed projects with a total value of 487.74 million RMB during the reporting period[74] - The company’s total liabilities included 308.29 million RMB due within one year, reflecting a 35.89% increase from the previous period[69] - The company reported a total guarantee amount of RMB 0 for guarantees provided to shareholders and related parties[130] Cash Flow and Investments - The company’s investment activities generated a net cash outflow of CNY 158.43 million, an improvement of 45% compared to the previous year[54] - The company’s cash flow from investment activities showed a net outflow of -¥158,431,550.67, a 45% improvement compared to the previous year[66] - The company’s cash flow management and maintaining strong relationships with financial institutions to support long-term development[89] - The company plans to rely on cash flows from operating activities to meet future repayment obligations for the convertible bonds[153] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.1 per 10 shares to all shareholders, pending approval at the shareholders' meeting[6] - The cash dividend for 2020 was calculated based on the total share capital after deducting restricted shares, resulting in a total cash dividend of 34,703,806.12 RMB distributed to shareholders[99] - The company’s cash dividend distribution for 2020 represented 15.50% of the net profit attributable to shareholders, reflecting a commitment to returning value to investors[102] - The cash dividend policy mandates a minimum distribution of 10% of the distributable profits if the company is profitable, with provisions for stock dividends if profits grow rapidly[98] Strategic Initiatives and Future Plans - The company aims to expand its business in ecological construction, focusing on green investment and services[33] - The company is developing a new model for project quality improvement through integrated planning and operational strategies[35] - The company is committed to ecological construction and urbanization, aligning its strategies with national policies for sustainable development[37] - The company aims to become the most respected builder and operator of ecological civilization in China, focusing on "big ecology, big health, and big environmental protection" as its strategic core[88] - The company is exploring new product development and digital management techniques, including the use of BIM for project budgeting and management[91] Risks and Audit Opinions - The company has received a qualified audit opinion from Zhonghui Certified Public Accountants, which requires investor attention[5] - The company has acknowledged the existence of non-operating fund occupation by controlling shareholders and their related parties[8] - The company has outlined potential risks in its future development, which investors should consider[8] - The company’s financial statements were subject to a non-standard audit opinion due to the inability to obtain sufficient evidence regarding the impairment of receivables and contract assets[114] Corporate Governance and Compliance - The company has established a buyback mechanism for shares if the prospectus is found to be misleading, ensuring investor protection[104] - The company’s commitment to transparency includes ensuring that all prospectus documents are accurate and complete, with legal repercussions for any misleading information[104] - The company’s board and senior management have committed to not transferring benefits unfairly to other parties[110] - The supervisory board emphasized the importance of compliance with regulations to ensure the company's healthy and sustainable development[200] Employee and Management Information - The total number of employees in the parent company and major subsidiaries is 590, with 249 in the parent company and 341 in subsidiaries[189] - The professional composition includes 354 engineering and technical personnel, 61 designers, and 22 sales personnel[189] - The company implements a performance-based salary policy, linking basic salary to job level and performance evaluation[190] - Training programs are tailored to strategic needs and employee development, utilizing various training methods[191] Shareholder and Stock Information - The total number of ordinary shareholders decreased from 19,910 to 17,656 during the reporting period[166] - The largest shareholder, Huawang International Construction Group Co., Ltd., reduced its holdings by 5.37 million shares, holding 133.64 million shares, which represents 39.81% of the total shares[168] - The company has 5.5 million shares pledged and frozen by Huawang Group[170] - The company’s stock option exercise price was set at RMB 7.32, with no options exercised during the reporting period[185]

Financial Performance - Operating revenue increased by 13.37% to CNY 59,293,587.10 compared to the same period last year[7] - Net profit attributable to shareholders was CNY -16,817,679.63, a decrease of 17.61% year-on-year[7] - Basic earnings per share improved to CNY -0.05 from CNY -0.06, a change of 16.67%[7] - Total operating revenue for Q1 2021 was CNY 59,293,587.10, an increase of 13.1% compared to CNY 52,299,605.37 in Q1 2020[26] - Net loss for Q1 2021 was CNY 17,676,402.59, an improvement from a net loss of CNY 21,969,697.72 in Q1 2020[27] - Operating profit for Q1 2021 was CNY -16,131,906.70, compared to CNY -20,603,954.58 in Q1 2020, indicating a narrowing loss[27] - Basic earnings per share for Q1 2021 were CNY -0.05, compared to CNY -0.06 in Q1 2020[27] - The company’s total comprehensive income for Q1 2021 was reported at ¥-15,110,097.72, compared to ¥-16,517,298.64 in Q1 2020, indicating a slight improvement[30] Cash Flow - Net cash flow from operating activities improved significantly to CNY 68,617,540.23 from CNY -220,710,936.36 in the previous year, representing a 131.09% increase[7] - Net cash flow from operating activities increased by 131.09% year-on-year, driven by higher cash receipts from sales and reduced cash payments for goods[14] - In Q1 2021, the company reported a net cash flow from operating activities of ¥68,617,540.23, a significant improvement compared to a net outflow of ¥-220,710,936.36 in Q1 2020[32] - Total cash inflow from operating activities was ¥341,686,299.72, up from ¥240,658,361.62 in the same period last year, representing an increase of approximately 42%[32] - The company recorded a total cash outflow from operating activities of ¥273,068,759.49, down from ¥461,369,297.98 in Q1 2020, indicating a reduction of about 41%[32] - The net cash flow from investing activities was ¥-644,068.32, an improvement from ¥-23,717,086.93 in Q1 2020[32] - Cash flow from financing activities resulted in a net outflow of ¥-153,610,991.23, compared to a net inflow of ¥164,420,725.18 in the previous year[33] - The company's total cash and cash equivalents at the end of Q1 2021 stood at ¥86,281,822.23, down from ¥183,993,236.69 at the end of Q1 2020[33] Assets and Liabilities - Total assets decreased by 7.13% to CNY 3,483,670,593.65 compared to the end of the previous year[7] - Total assets decreased from CNY 3,750,959,774.84 to CNY 3,483,670,593.65, reflecting a decline in both current and non-current assets[19] - As of March 31, 2021, the total assets of the company amounted to RMB 3,065,792,668.39, a decrease from RMB 3,278,903,271.27 as of December 31, 2020, representing a decline of approximately 6.5%[22] - The company's current assets totaled RMB 1,788,460,675.15, down from RMB 1,805,374,267.58, indicating a decrease of about 0.5%[22] - The company's non-current assets totaled RMB 1,277,331,993.24, down from RMB 1,473,529,003.69, indicating a decrease of approximately 13.3%[22] - The total liabilities as of Q1 2021 were CNY 1,899,134,997.19, a decrease from CNY 2,096,618,524.10 in Q1 2020[26] - The total number of shareholders reached 19,910, with the largest shareholder holding 39.81% of the shares[10] - Major shareholders' shares are currently under pledge and freeze, indicating potential liquidity concerns[10] Expenses - Operating costs increased by 39.38% year-on-year, mainly due to increased maintenance costs for completed projects[14] - Research and development expenses grew by 62.25% year-on-year, attributed to a slowdown in R&D progress last year due to the pandemic[14] - Research and development expenses increased to CNY 6,087,204.97 in Q1 2021, up 62.3% from CNY 3,751,749.58 in Q1 2020[26] - The company received government subsidies totaling CNY 2,659,644.57, including CNY 2,470,000 for R&D[7] - Other income surged by 2209.99% year-on-year, primarily due to obtaining R&D expense subsidies from 2019[14] Receivables and Prepayments - Cash and cash equivalents decreased by 41.43% compared to the end of the previous year, primarily due to payments to suppliers and bank loan repayments[14] - Prepayments increased by 79.00% compared to the end of the previous year, mainly due to an increase in advance project payments[14] - Long-term receivables decreased by 48.54% compared to the end of the previous year, mainly due to the collection of certain long-term receivables[14] - The company reported an increase in other receivables to RMB 234,619,950.97 from RMB 177,450,881.71, representing an increase of approximately 32.3%[22]

Financial Performance - Operating revenue for the period was CNY 394,519,033.72, a decrease of 50.30% year-on-year, primarily due to project delays caused by the pandemic[9] - Net profit attributable to shareholders was CNY 6,008,986.79, down 92.19% from the previous year, largely due to the decline in operating revenue[9] - Basic and diluted earnings per share were both CNY 0.02, a decrease of 91.30% compared to the previous year[9] - The company reported a net profit margin decline, with net profit for the first three quarters of 2020 at ¥394,519,033.72, down from ¥793,811,209.57 in the same period of 2019[28] - The company reported a total profit of approximately ¥4.46 million for Q3 2020, down from ¥19.90 million in Q2 2020[29] - The net profit for the first three quarters of 2020 was approximately ¥24.64 million, down 66.4% from ¥73.29 million in the same period of 2019[35] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,823,776,121.96, an increase of 2.59% compared to the end of the previous year[9] - Total liabilities reached ¥2,257,124,115.58, up from ¥2,062,481,420.79 in the previous year[26] - The company's total equity was reported at ¥1,100,992,831.56, slightly down from ¥1,101,372,049.74 year-over-year[26] - Total current liabilities reached CNY 1,817,359,774.79, while non-current liabilities totaled CNY 245,121,646.00[49] - Total liabilities amounted to CNY 2,473,865,819.36, with total equity at CNY 1,253,315,975.89, resulting in total assets of CNY 3,727,181,795.25[44] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 201,612,509.37, compared to a net outflow of CNY 215,972,279.85 in the same period last year[9] - The net cash flow from operating activities for the first three quarters of 2020 was approximately -¥201.61 million, slightly improved from -¥215.97 million in the same period of 2019[38] - Cash inflow from operating activities for the first three quarters of 2020 was CNY 444.20 million, down 29.4% from CNY 629.03 million in the same period of 2019[40] - Cash inflow from investment activities decreased significantly to CNY 22.29 million in 2020 from CNY 170.91 million in 2019, a decline of 87.0%[40] - Cash inflow from financing activities increased to CNY 963.51 million in 2020, up 27.0% from CNY 759.00 million in 2019[40] Inventory and Receivables - Inventory decreased by 94.17% compared to the end of the previous year, mainly due to the adjustment of certain amounts to "contract assets" following the new revenue standards effective January 1, 2020[14] - Other receivables rose by 87.34% compared to the end of the previous year, primarily due to the payment of project guarantee deposits for municipal road construction in Liaocheng[14] - Accounts receivable increased to ¥287,258,195.09 from ¥212,334,819.78, indicating a rise of 35.2%[24] - The company reported a significant reduction in inventory, with a decrease of CNY 714.13 million, indicating improved inventory management[42] Government Support and Subsidies - Government subsidies recognized during the period totaled CNY 5,101,563.82, contributing positively to the financial results[12] Changes in Accounting Standards - The implementation of the new revenue recognition standard will impact how the company recognizes revenue, shifting from transferring risks and rewards to recognizing revenue upon customer control of goods[52] - The company will classify income from construction contracts based on the progress of contract performance, which may lead to changes in reported revenue figures[53] - The new accounting policies are expected to enhance the accuracy of financial reporting and align with international standards, potentially improving investor confidence[52] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,497, with the largest shareholder holding 40.47% of the shares[12]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥269,707,341.88, a decrease of 52.96% compared to ¥573,318,268.47 in the same period last year[20]. - The net profit attributable to shareholders was ¥2,085,590.99, down 96.85% from ¥66,251,584.48 year-on-year[20]. - Basic earnings per share dropped to ¥0.01, a decline of 95.00% from ¥0.20 in the same period last year[21]. - The total profit for the first half of 2020 was ¥21,104,869.84, a decrease of 73.5% from ¥79,438,970.02 in the previous year[110]. - The company's total comprehensive income for the first half of 2020 was ¥15,213,537.16, down 78.2% from ¥69,550,237.68 in the same period of 2019[111]. Cash Flow and Assets - The net cash flow from operating activities improved by 31.27%, reaching -¥123,078,867.53 compared to -¥179,088,869.69 in the previous year[20]. - The company's cash and cash equivalents were reported at ¥153,717,656.67, significantly lower than ¥301,880,359.80 at the end of 2019, indicating a decline of about 49.1%[99]. - The company's total current liabilities were ¥2,000,077,463.27, a decrease from ¥2,115,024,562.16, representing a reduction of about 5.4%[100]. - The ending cash and cash equivalents balance was CNY 137,276,181.67, a decrease from CNY 167,932,994.64 at the end of the first half of 2019[113]. Revenue and Cost Analysis - The company's operating costs decreased by 57.61% year-on-year to approximately 174.31 million RMB, attributed to the same project delays[45]. - Research and development expenses decreased by 43.36% year-on-year to approximately 12.37 million RMB, due to a halt in construction activities in the first quarter[45]. - The company's financial expenses increased to ¥22,931,988.49, compared to ¥21,520,053.89 in the first half of 2019[110]. Strategic Initiatives and Market Position - The decline in revenue was primarily due to project delays caused by the Spring Festival holiday and pandemic control measures, particularly affecting the Wuhan project[22]. - The company focuses on building a complete green ecological industry chain, providing comprehensive services from green investment to green operation[27]. - The company is adapting to market demands driven by policies promoting new urbanization and green building, ensuring sustainable growth[29]. - The company has formed strategic partnerships with several state-owned enterprises and leading industry players to enhance its competitive edge[40]. Risk Management and Governance - The company faces strategic risks related to market competition and is implementing measures to align subsidiary goals with overall corporate strategy[52]. - The company is monitoring project risks closely, particularly regarding accounts receivable collection, to mitigate potential cash flow issues[53]. - The company has established long-term strategic partnerships with financial institutions to optimize financing channels and ensure sufficient funding for large engineering projects and mergers and acquisitions[54]. Shareholder and Equity Information - The total number of common shareholders at the end of the reporting period was 16,574[82]. - The largest shareholder, Huawang International Construction Group, held 139,013,000 shares, representing 41.24% of total shares[85]. - The company has not reported any significant accounting errors or restatements during the reporting period[81]. Environmental and Social Responsibility - The company has provided 6.60 million RMB in funding for poverty alleviation efforts, helping 11 registered impoverished individuals find employment[75]. - The company is actively engaged in environmental management, having passed the ISO14001 certification and implemented various eco-friendly projects[77]. Accounting Policies and Compliance - The accounting policies comply with the requirements of enterprise accounting standards, reflecting the company's financial status accurately[143]. - The company has adopted new revenue recognition standards effective from January 1, 2020, aligning with the latest accounting regulations[80].

Financial Performance - Net profit attributable to shareholders decreased by 184.73% to a loss of CNY 20,413,294.46 compared to the same period last year[6]. - Operating revenue dropped by 79.33% to CNY 52,299,605.37 compared to the previous year[6]. - Basic earnings per share fell by 185.71% to -CNY 0.06 compared to the same period last year[6]. - Net loss for Q1 2020 was ¥21,969,697.72, compared to a net profit of ¥22,213,575.49 in Q1 2019, indicating a shift in financial performance[30]. - The net profit for Q1 2020 was a loss of ¥16,517,298.64, compared to a profit of ¥27,495,857.39 in Q1 2019, marking a decline of 160.0%[33]. - The company reported a total comprehensive loss of ¥16,517,298.64 for Q1 2020, compared to a comprehensive income of ¥27,495,857.39 in Q1 2019[34]. Assets and Liabilities - Total assets decreased by 5.04% to CNY 3,539,409,526.71 compared to the end of the previous year[6]. - Total liabilities decreased from CNY 2,473,865,819.36 to CNY 2,329,997,539.93[22]. - The company's total assets decreased to ¥2,918,319,087.16 in Q1 2020 from ¥3,163,853,470.53 in Q4 2019, a decline of approximately 7.8%[26]. - Total liabilities decreased to ¥1,841,930,975.94 in Q1 2020 from ¥2,062,481,420.79 in Q4 2019, representing a reduction of about 10.7%[26]. - Total current liabilities were CNY 2,115,024,562.16, with a minor decrease of CNY 4,759,168.67[43]. Cash Flow - Cash flow from operating activities showed a slight decrease of 0.03% to -CNY 220,710,936.36 compared to the previous year[6]. - The net cash flow from operating activities for Q1 2020 was a negative ¥220,710,936.36, compared to a negative ¥213,423,218.20 in Q1 2019[37]. - Cash inflow from operating activities decreased to ¥175.99 million in Q1 2020 from ¥254.66 million in Q1 2019, a decline of approximately 30.8%[39]. - Net cash outflow from operating activities was ¥227.67 million in Q1 2020, compared to ¥133.65 million in Q1 2019, representing an increase in losses of approximately 70.4%[39]. - The total cash outflow from investing activities in Q1 2020 was ¥25,236,965.82, significantly lower than ¥277,302,157.78 in Q1 2019[37]. Shareholder Information - The total number of shareholders reached 17,501 by the end of the reporting period[10]. - Shareholders' equity attributable to the parent company decreased from CNY 1,157,244,563.81 to CNY 1,120,137,001.67[22]. - Owner's equity totaled CNY 1,253,315,975.89, reflecting a decrease of CNY 23,188,163.13 from the prior period[43]. Revenue Recognition Changes - The company will implement new revenue recognition standards starting January 1, 2020, affecting accounting policies[51]. - Under the new revenue recognition standards, revenue will be recognized when the customer obtains control of the goods, rather than when the risks and rewards are transferred[52]. - Contract assets will be reclassified based on the revenue recognized exceeding the settled amounts, with expected credit losses measured over the entire duration[54]. - The company will assess contracts for performance obligations under the new standards, impacting revenue recognition for ongoing contracts[54]. - The company recognizes revenue from engineering design services contracts based on the progress of performance[55].

Financial Performance - The company's operating revenue for 2019 was approximately CNY 1.23 billion, a decrease of 2.35% compared to 2018[20]. - The net profit attributable to shareholders for 2019 was approximately CNY 97.39 million, down 2.54% from the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 50.41% to approximately CNY 37.81 million[20]. - The net cash flow from operating activities for 2019 was approximately CNY 18.40 million, a significant decline of 87.36% compared to 2018[20][22]. - The total assets at the end of 2019 were approximately CNY 3.73 billion, an increase of 8.45% from the end of 2018[20]. - The net assets attributable to shareholders at the end of 2019 were approximately CNY 1.16 billion, reflecting a growth of 7.91% year-on-year[20]. - The basic earnings per share for 2019 were CNY 0.29, a decrease of 3.33% compared to 2018[21]. - The weighted average return on net assets for 2019 was 8.74%, down 0.98 percentage points from the previous year[21]. Cash Flow Management - The company emphasizes the importance of cash flow management and return on equity (ROE) to ensure sustainable development[32]. - The company plans to enhance cash flow management by establishing a special task force for project receivables[50]. - Operating cash inflow for 2019 was CNY 1,205,552,625.86, an increase of 7.51% compared to 2018[70]. - Operating cash outflow increased by 21.66% to CNY 1,187,156,063.89, resulting in a net cash flow from operating activities of CNY 18,396,561.97, down 87.36% year-on-year[70]. - Financing cash inflow decreased by 11.01% to CNY 1,002,858,046.38, while financing cash outflow increased by 5.41% to CNY 760,480,163.95, resulting in a net cash flow from financing activities of CNY 242,377,882.43, down 40.23%[71]. Strategic Initiatives - The company aims to enhance its market position by expanding its ecological construction services, focusing on a complete green ecological industry chain from investment to operation[28]. - The operational strategy includes leveraging project construction as the core business while enhancing collaboration among subsidiaries to optimize service delivery[30]. - The company plans to explore new profit growth points through partnerships with influential industry players and by enhancing its project management capabilities[32]. - The company is focusing on integrating traditional ecological engineering with emerging cultural and sports tourism businesses[48]. - The company aims to develop the Qingfeng Extreme Sports Base as a key cultural and sports tourism complex in the Central Plains region[48]. Project Management and Development - The company has established a comprehensive management mechanism that emphasizes goal orientation, task-driven processes, and performance advancement, enhancing operational efficiency[37]. - The company has formed a service operation system that spans the entire project industry chain, optimizing business structure and service levels[38]. - The company has expanded its project footprint across multiple provinces, establishing a cross-regional development model that enhances resource integration[39]. - The company is involved in key projects such as the National Cybersecurity Base and the Qingfeng Extreme Sports Center, focusing on ecological and cultural tourism integration[45]. - The company has formed a strategic partnership with Jiangsu Zhenjiang Road and Bridge Engineering Co., Ltd. to enhance market development and resource integration[46]. Financial Management and Governance - The company emphasizes the importance of financial management and cash flow as key indicators of corporate quality, especially in the context of large project financing[94]. - The company has established a clear framework to prevent conflicts of interest with its controlling shareholder, ensuring transparency in operations[116]. - The company has implemented measures to stabilize stock prices if the closing price falls below the latest audited net asset value per share for 20 consecutive trading days[114]. - The company has committed to fulfilling its promises regarding immediate return measures and will compensate for any losses incurred by shareholders due to breaches of these commitments[116]. - The company has maintained independence from its controlling shareholder, ensuring no interference in decision-making or operations[190]. Employee and Talent Development - The company emphasizes talent development through performance-based incentives and a clear promotion mechanism, fostering a competitive workforce[40]. - The company has a performance-based salary policy that combines basic salary with performance bonuses based on overall company performance and departmental achievements[184]. - The company provides professional and personalized training courses to enhance employee skills and meet strategic needs[185]. - The company employs a total of 705 staff, including 270 in the parent company and 435 in major subsidiaries[183]. - The company has a diverse educational background among its employees, with 330 holding bachelor's degrees and 25 holding master's degrees or higher[183]. Compliance and Risk Management - The company has not reported any significant accounting errors or changes in accounting policies during the reporting period[120]. - The company has not faced any significant risks identified by the supervisory board during the reporting period[194]. - The company has disclosed its internal control self-assessment report, confirming no major deficiencies[196]. - The company has established mechanisms to prevent the controlling shareholder from misappropriating company funds[190]. - The company has not encountered any issues related to the suspension or termination of its listing status[123].

Financial Performance - Net profit attributable to shareholders decreased by 21.63% to CNY 76,935,860.82 for the period from January to September[9] - Operating revenue decreased by 14.30% to CNY 793,811,209.57 for the same period[9] - The weighted average return on net assets decreased by 2.49 percentage points to 6.95%[9] - Basic earnings per share decreased by 12.00% to CNY 0.22[9] - Operating profit decreased by 35.22% compared to the same period last year, mainly due to a decline in revenue from the subsidiary Zhengzhou Water and rising material prices[15] - Total operating revenue for Q3 2019 was ¥220,492,941.10, a decrease of 34.2% compared to ¥334,927,089.41 in Q3 2018[27] - Net profit for Q3 2019 was ¥13,151,644.05, a decline of 54.7% from ¥29,070,219.28 in Q3 2018[28] - Operating profit for Q3 2019 was ¥18,583,372.93, a decrease of 50.3% compared to ¥37,402,945.05 in Q3 2018[28] - The company reported a total profit of CNY 8,680,439.98 for the third quarter of 2019, down 11.4% from CNY 9,805,598.95 in the third quarter of 2018[31] Cash Flow and Liquidity - Cash flow from operating activities showed an improvement, with a net cash outflow of CNY -215,972,279.85 compared to CNY -309,872,447.84 in the previous year[9] - Net cash flow from operating activities increased by 30.30% compared to the same period last year, driven by the recovery of project payments and a decrease in VAT paid by subsidiaries[17] - The net cash flow from operating activities for the first three quarters of 2019 was -CNY 215,972,279.85, an improvement from -CNY 309,872,447.84 in the same period of 2018[33] - In Q3 2019, the company reported a net cash flow from operating activities of -151,803,292.01 RMB, compared to -284,901,540.04 RMB in Q3 2018, indicating an improvement of approximately 46.7% year-over-year[37] - The company’s total cash inflow from operating activities in Q3 2019 was 629,028,776.52 RMB, while total cash outflow was 780,832,068.53 RMB, leading to a net cash flow of -151,803,292.01 RMB[37] Assets and Liabilities - Total assets increased by 6.37% to CNY 3,655,424,514.99 compared to the end of the previous year[9] - Total liabilities increased to ¥2,411,979,883.61 from ¥2,263,199,582.75, representing a growth of approximately 6.5% year-over-year[21] - Current assets totaled ¥1,301,138,654.78, up from ¥1,228,190,225.07, indicating an increase of about 5.9%[23] - Total assets amounted to ¥3,106,514,185.63, compared to ¥2,889,026,418.36, indicating a growth of about 7.5%[24] - Total liabilities reached ¥2,263,199,582.75, with current liabilities at ¥1,850,681,934.35[41] - Total assets amounted to ¥3,436,678,032.65, with non-current assets at ¥1,699,848,769.05[40] Shareholder Information - The number of shareholders reached 18,999 by the end of the reporting period[11] - The largest shareholder, Huawang International Construction Group Co., Ltd., holds 41.23% of the shares, with 139,013,000 shares pledged[11] - Total equity attributable to shareholders reached ¥1,141,683,434.35, up from ¥1,072,426,193.41, which is an increase of approximately 6.5%[21] Inventory and Expenses - Inventory increased to approximately CNY 810.33 million, up from CNY 706.13 million at the end of the previous year[19] - Sales expenses decreased by 219.72% compared to the same period last year, attributed to strategic adjustments and enhanced cost control measures[15] - Total operating costs for Q3 2019 were ¥208,591,772.99, down 29.7% from ¥296,517,327.40 in Q3 2018[27] - Research and development expenses for Q3 2019 were ¥8,778,552.57, a reduction of 35.9% from ¥13,667,886.45 in Q3 2018[27] Investment and Capital Expenditures - Long-term equity investments grew by 167.01% compared to the end of the previous year, mainly due to increased investments in subsidiaries during the reporting period[13] - The company invested 304,728,720.00 RMB in capital expenditures during the first nine months of 2019, up from 148,000,000.00 RMB in the same period of 2018[37]