Financial Performance - The company's operating revenue for 2021 was ¥615,887,444.57, representing a 45.25% increase compared to ¥424,027,744.33 in 2020[22]. - The net profit attributable to shareholders of the listed company was -¥80,973,886.95, an improvement from -¥122,294,973.54 in the previous year[22]. - The net cash flow from operating activities was -¥27,452,246.45, showing a significant reduction in cash outflow compared to -¥65,339,042.07 in 2020[22]. - The total assets increased by 8.67% to ¥1,378,059,705.10 from ¥1,268,095,856.16 in 2020[23]. - The net assets attributable to shareholders decreased by 19.41% to ¥331,911,953.18 from ¥411,865,977.19 in 2020[23]. - The basic earnings per share for 2021 was -¥0.40, an improvement from -¥0.61 in 2020[24]. - The weighted average return on net assets was -21.77%, an increase of 4.08 percentage points from -25.85% in 2020[24]. - The company reported a total asset of 1,378.06 million yuan and a net asset of 331.91 million yuan, a year-on-year decrease of 19.41%[42]. - The operating revenue for the reporting period was 615.89 million yuan, representing a year-on-year growth of 45.25%[42]. - The net profit attributable to shareholders was a loss of 80.97 million yuan, primarily due to the impact of the overseas pandemic and rising raw material costs[42]. Operational Developments - The company secured new orders worth RMB 788 million in the flue gas treatment segment, achieving revenue of RMB 603 million, a year-on-year increase of 42.49%[30]. - The first phase of the 25,000 tons/year waste salt resource utilization project commenced stable production in December 2021, with a signed contract volume of 50,000 tons[31]. - The company plans to establish a new 50,000 tons organic waste liquid resource utilization project and a 20,000 tons waste salt residue resource utilization project[32]. - The company has formed a partnership to establish a Green Low-Carbon Research Institute, focusing on key technologies such as carbon capture and special catalysts[32]. - The company is actively pursuing the replication of its waste salt project across various provinces to reduce land occupation and pollution[32]. - The company has developed a low-temperature anaerobic graded critical carbonization cracking furnace process for industrial waste salt disposal, recovering high-purity sodium chloride and sodium sulfate as by-products[37]. - The company aims to achieve a 100% harmless disposal rate for industrial hazardous waste and medical waste by the end of 2022, and to promote "zero emissions" of hazardous waste by 2025 in Zhejiang Province[36]. Market and Competitive Landscape - The company is actively expanding its market presence in Southeast Asia, where the demand for flue gas treatment is expected to grow significantly due to environmental pressures[37]. - The company has established long-term partnerships with well-known enterprises in Southeast Asia, enhancing its brand recognition in the flue gas treatment market[41]. - The company is focusing on solid waste and hazardous waste treatment, which is expected to become a key development direction under the "waste-free city" initiative[40]. - The company has faced challenges in project execution in Taiwan and India due to the pandemic, affecting its overseas business revenue[42]. - The competitive landscape in the hazardous waste management sector is intensifying, with new entrants expected to increase competition and pressure on profit margins[80]. Financial Management and Governance - The company maintains a robust corporate governance structure, ensuring compliance with relevant laws and regulations, and protecting shareholder rights[83]. - The board of directors and various committees are actively involved in decision-making processes, providing professional insights for strategic decisions[83]. - The company has established an independent financial department and accounting system to ensure financial autonomy and compliance[86]. - The company has a complete and independent asset structure, with clear ownership of land, property, trademarks, and patents[86]. - The management team operates independently, with no reliance on the controlling shareholder for business operations[86]. - The company is committed to transparent information disclosure, ensuring all shareholders have equal access to company information[85]. Employee and Social Responsibility - The company has a comprehensive welfare system, providing five insurances and one fund, holiday benefits, and communication subsidies to enhance employee satisfaction[119]. - The company conducts regular performance evaluations to adjust employee compensation and offers promotion pathways for outstanding employees[119]. - The company emphasizes training, providing professional and personalized training courses for all employees, including new employee orientation[120]. - The company organized a child care program for employees' children during the winter holiday, addressing safety concerns and demonstrating care for employees[144]. - The company actively participates in social welfare activities, including donating materials to support elderly party members in local villages[145]. Environmental Compliance - The company has implemented pollution prevention facilities, including a wastewater treatment system that meets discharge standards[135]. - The company has received environmental impact assessment approvals for multiple projects, including a project for producing 10,000 cubic meters of high-performance denitration catalyst[137]. - The company has prepared emergency response plans for environmental incidents, which have been filed with the local environmental authority[139]. - The company commissioned third-party monitoring agencies to assess wastewater, waste gas, and noise levels quarterly, with all results meeting national and local standards[140]. - The company has no administrative penalties related to environmental issues during the reporting period[141]. Risks and Challenges - The company faces risks from potential changes in national policies affecting the environmental sector, which could impact its hazardous waste business[79]. - The company has a significant accounts receivable balance, which poses a risk of bad debt losses, and is implementing measures to manage this risk effectively[80]. - Significant increases in raw material prices, including steel, titanium dioxide, and resin, along with rising international shipping costs, have negatively impacted profit margins[81]. - The company plans to enhance product and service quality to improve pricing power and mitigate the effects of currency appreciation[81]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 7,914[164]. - The largest shareholder, Zhejiang Deneng Industrial Holding Group Co., Ltd., holds 87,947,500 shares, accounting for 43.54% of total shares[166]. - The top ten shareholders include Hangzhou Zhanchuang Enterprise Management Partnership with 11,918,000 shares (5.90%) and Yongxin County Dechuang Enterprise Management Co., Ltd. with 7,012,500 shares (3.47%)[166]. - The company has not disclosed any significant changes in its share capital structure during the reporting period[162]. - The company has not engaged in any significant related party transactions during the reporting period[157].

Financial Performance - The company's operating revenue for Q3 2021 was ¥133,336,814, a decrease of 13.88% compared to the same period last year, while the year-to-date revenue increased by 46.29% to ¥478,017,448.31[4] - The net profit attributable to shareholders was -¥16,545,011.93 for the quarter, with a year-to-date net profit of -¥13,472,415.13, indicating a significant loss[4] - The basic and diluted earnings per share for the quarter were both -¥0.09, compared to -¥0.07 in the same period last year[5] - The net profit for the third quarter was reported at -¥14,734,465.56, compared to -¥43,084,464.44 in the previous year, showing an improvement in losses[20] - The company reported a basic earnings per share of -¥0.07, an improvement from -¥0.20 in the same quarter last year[21] - Other comprehensive income after tax showed a loss of -¥213,253.92, compared to -¥176,997.89 in the previous year, indicating ongoing challenges[21] Assets and Liabilities - Total assets increased by 14.75% year-on-year to ¥1,455,160,680.86, while equity attributable to shareholders decreased by 3.16% to ¥398,837,729.63[5] - Total assets increased to ¥1,455,160,680.86 from ¥1,268,095,856.16, representing a growth of approximately 14.74% year-over-year[15] - Total liabilities rose to ¥1,054,638,303.61, up from ¥855,294,009.22, indicating an increase of about 23.33%[15] - The total liabilities as of September 30, 2021, were ¥855,294,009.22, compared to ¥856,195,841.13 at the end of 2020, indicating a marginal decrease[27] - The company's total equity remained stable at ¥412,801,846.94 as of September 30, 2021, reflecting consistent financial health[27] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥34,609,637.77, reflecting improved cash generation[4] - The net cash flow from operating activities for the first three quarters of 2021 was ¥34,609,637.77, a significant improvement compared to a net outflow of ¥90,432,017.23 in the same period of 2020[22] - Total cash inflow from operating activities increased to ¥581,252,586.82 in 2021 from ¥541,275,937.10 in 2020, representing a growth of approximately 7.5%[22] - Cash outflow from operating activities decreased to ¥546,642,949.05 in 2021 from ¥631,707,954.33 in 2020, indicating a reduction of about 13.5%[22] - The net cash flow from investing activities was -¥110,693,887.54 for the first three quarters of 2021, compared to -¥38,725,905.78 in 2020, reflecting increased investment expenditures[23] - Cash inflow from financing activities rose to ¥420,800,000.00 in 2021, up from ¥173,023,629.50 in 2020, marking a growth of approximately 143%[23] - The net cash flow from financing activities was ¥55,337,867.31 in 2021, compared to ¥49,814,261.09 in 2020, showing a slight increase of about 11%[23] Shareholder Information - The total number of common shareholders at the end of the reporting period was 8,880[9] - The company has a significant shareholder structure, with Zhejiang Deneng Industrial Holding Group Co., Ltd. holding 87,947,500 shares, representing 43.54% of total shares[10] Investments and Projects - The company has ongoing investments in the "New 50,000 tons of waste salt residue resource utilization project," contributing to increased construction in progress[8] - The company reported a 180.28% increase in prepaid expenses, attributed to increased revenue and ongoing projects[8] - Contract liabilities surged by 362.71%, indicating a significant rise in advance payments received[8] - The company experienced a 50.82% increase in operating costs year-to-date, primarily due to the growth in operating revenue[8] Future Outlook and Strategy - Future outlook includes potential market expansion and new product development strategies, although specific figures were not disclosed in the call[12] - The company is focusing on enhancing its technological capabilities and exploring mergers and acquisitions to strengthen its market position[12]

Financial Performance - The company's operating revenue for the first half of 2021 reached RMB 344,680,634.31, representing a year-on-year increase of 100.47% compared to RMB 171,937,260.18 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was RMB 3,072,596.80, a significant turnaround from a loss of RMB 33,336,985.99 in the previous year[17]. - The net cash flow from operating activities increased by RMB 226,386,215.27, improving from a negative cash flow of RMB 84,935,532.52 in the same period last year[17]. - The company's total assets at the end of the reporting period were RMB 1,353,934,265.47, up 6.77% from RMB 1,268,095,856.16 at the end of the previous year[17]. - The weighted average return on net assets increased to 0.57%, up 7.00 percentage points from -6.43% in the same period last year[18]. - The company reported a basic earnings per share of RMB 0.02, compared to a loss of RMB 0.17 per share in the same period last year[18]. - The net profit after deducting non-recurring gains and losses was RMB 405,909.42, recovering from a loss of RMB 37,188,748.54 in the previous year[17]. - The total net assets attributable to shareholders increased to RMB 414,820,388.56, a 0.72% increase from RMB 411,865,977.19 at the end of the previous year[17]. - Non-recurring gains totaled RMB 2,666,687.38, contributing positively to the net profit for the period[21]. Operational Developments - The company attributed the revenue growth to reduced impact from the pandemic and proactive adjustments in operational strategies[19]. - The company has obtained a hazardous waste operation license for the first phase of its new project, which aims to process 25,000 tons of hazardous waste per year[23]. - The company is actively expanding its overseas market presence, particularly in Indonesia and Vietnam, where significant demand for flue gas treatment is expected due to new power generation projects[25]. - The company has introduced new production equipment, which has improved production capacity and reduced labor costs, contributing to a significant increase in total output value compared to the previous year[28]. - The company holds 184 authorized patents, including 11 invention patents, reflecting its commitment to continuous technological innovation[27]. - The company is focusing on developing new products such as low SO2 oxidation rate catalysts and high-temperature catalysts to enhance its competitive edge in the industry[28]. - The solid waste treatment industry is expected to grow significantly due to increasing government regulations and the need for comprehensive waste management solutions[25]. - The company is involved in a pilot project for centralized hazardous waste collection for small and micro enterprises, enhancing its service offerings in the solid waste sector[24]. - The company aims to cover the entire solid waste treatment industry chain, including soil pollution remediation and waste incineration, aligning with national waste-free city initiatives[24]. Financial Position - Operating costs increased to ¥274,724,309.48, reflecting a year-on-year growth of 101.87% due to the rise in operating revenue[32]. - The company's inventory decreased by 39.84% to ¥109,954,031.36, attributed to effective pandemic control and accelerated order delivery[34]. - Contract assets increased by 50.79% to ¥286,040,502.70, due to a rise in completed but unsettled assets[34]. - The net cash flow from financing activities increased by 131.56% to ¥77,547,933.32, primarily due to an increase in short-term borrowings[31]. - The company received an interest-free loan of ¥39,500,000 from its shareholder to support the new waste processing project[36]. - Total current assets as of June 30, 2021, amount to 956,876,520.49 RMB, an increase from 895,614,263.89 RMB at the end of 2020[86]. - Cash and cash equivalents decreased to 75,941,255.20 RMB from 92,027,075.55 RMB[86]. - Accounts receivable increased to 355,725,387.32 RMB from 335,406,551.81 RMB[86]. - Total liabilities reached CNY 937,298,126.31, up from CNY 855,294,009.22, which is an increase of approximately 9.59%[88]. Risks and Challenges - The company faces risks from national and industry policy changes, which could significantly impact its solid waste and hazardous waste management business[43]. - The company has a substantial accounts receivable balance, which poses a risk of bad debt losses due to long collection periods[43]. - Increased competition in the solid waste and hazardous waste management market is anticipated, potentially squeezing industry profits[44]. - Tensions in Sino-Indian relations may adversely affect the company's bidding and project execution in India, a key overseas market[44]. - The company is closely monitoring the COVID-19 situation in India, as it could impact overall performance and project execution[45]. Environmental Compliance - The company is classified as a key pollutant discharge unit and has established various pollution control measures, including continuous and phased emission controls[51]. - In the first half of 2021, the actual discharge of COD was 0.813 t/a, significantly below the permitted level of 2.0 t/a, indicating compliance with discharge standards[52]. - The company has implemented a comprehensive environmental monitoring program, with quarterly assessments conducted by qualified third-party agencies[57]. - No administrative penalties were imposed on the company for environmental issues during the reporting period[58]. - The company has received environmental impact assessment approvals for multiple projects, including a high-performance catalyst production project[54]. Shareholder Information - The company reported no profit distribution or capital reserve transfer plans for the first half of 2021, with no dividends or stock bonuses proposed[49]. - The company has not disclosed any employee stock ownership plans or other incentive measures during the reporting period[50]. - The total number of common shareholders as of the end of the reporting period is 9,740[75]. - The largest shareholder, Zhejiang Deneng Industrial Holdings Group Co., Ltd., holds 87,947,500 shares, accounting for 43.54% of total shares[77]. - Hong Kong Rongzhi Group Limited reduced its holdings by 4,040,000 shares, now holding 25,292,000 shares, representing 12.52%[77]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations for the next 12 months[135]. - The company adheres to the accounting standards, ensuring that financial reports reflect the true financial condition and operating results[136]. - The company’s financial reports are prepared in Renminbi, following the Chinese accounting standards[140]. - The company applies a perpetual inventory system for inventory management[163]. - The company recognizes revenue based on the progress of performance obligations, confirming income during the period when obligations are fulfilled[199].

Financial Performance - The company's operating revenue for 2020 was approximately RMB 424 million, a decrease of 45.44% compared to RMB 777 million in 2019[21]. - The net profit attributable to shareholders for 2020 was a loss of approximately RMB 122 million, compared to a profit of RMB 6.25 million in 2019[21]. - The net cash flow from operating activities for 2020 was a negative RMB 65.34 million, a decline of 552.15% from RMB 14.45 million in 2019[21]. - The total assets at the end of 2020 were approximately RMB 1.27 billion, down 7.00% from RMB 1.36 billion at the end of 2019[21]. - The company's net assets attributable to shareholders decreased by 22.91% to approximately RMB 411.87 million from RMB 534.25 million in 2019[21]. - Basic earnings per share for 2020 were -0.61 yuan, a decrease of 2,133.33% compared to 0.03 yuan in 2019[22]. - The weighted average return on equity for 2020 was -25.85%, a decrease of 27.03 percentage points from 1.18% in 2019[22]. - The decline in revenue was primarily due to the impact of the pandemic and the bilateral relations between China and India, affecting project execution in Taiwan and India[23]. - The company did not distribute cash dividends or bonus shares for 2020 due to negative net profits[5]. - The company reported a net loss of approximately 122.29 million RMB, resulting in no cash dividends being distributed[94]. Revenue Breakdown - In 2020, the company reported total revenue of RMB 126.33 million in Q2, RMB 154.83 million in Q3, and RMB 97.26 million in Q4, with a total annual revenue of RMB 45.60 million in Q1[25]. - The sales revenue from denitration catalysts was RMB 185.58 million, down 42.45% year-on-year, while flue gas treatment engineering revenue fell by 64.10% to RMB 118.33 million[45]. - Revenue from desulfurization equipment was approximately ¥71.71 million, down 10.16% year-over-year, with a gross profit margin of 15.89%[48]. - The total revenue for the environmental protection industry was approximately ¥424 million, with a year-over-year decrease of 45.44%[47]. - The gross profit margin for the environmental protection industry was 12.65%, reflecting a decline of 11.01 percentage points compared to the previous year[47]. Operational Challenges - The company is facing risks from the ongoing COVID-19 pandemic, which has affected order execution and overall performance[86]. - Tensions in China-India relations may impact the company's ability to expand in the Indian market, although no specific restrictions have been imposed yet[85]. - The company emphasizes maintaining good relationships with local clients in India to mitigate risks from geopolitical tensions[85]. - The company has reduced its EPC project team from over 200 to nearly 70 personnel, focusing resources on core business areas and improving operational efficiency[39]. - The company has reported an increase in inventory levels due to a larger decline in sales compared to production[50]. Strategic Focus - The company plans to focus on project construction and strategic planning despite the financial challenges faced in 2020[5]. - The company is actively expanding into solid waste management, with a new project aimed at processing 50,000 tons of industrial waste salt annually, which is nearing completion[30]. - The company is focusing on technological development in soil pollution remediation and waste incineration, expanding its capabilities in the solid waste treatment sector[31]. - The company plans to expand its overseas market presence, although growth has been hindered by the pandemic and geopolitical issues[48]. - The company is focusing on enhancing its core competitiveness in the environmental protection industry, particularly in flue gas governance and solid waste treatment[80]. Research and Development - Research and development expenses totaled 28.52 million yuan, which is 6.73% of total revenue, with a year-on-year increase of 3.58%[59]. - The company has filed 58 new patents during the reporting period, bringing the total number of authorized patents to 180, including 7 invention patents[35]. - The company will continue to invest in R&D to innovate and improve product technology, aligning with market demands[82]. Governance and Compliance - The company has a structured decision-making process for profit distribution, requiring approval from the board and independent directors[91]. - The company has committed to transparency regarding any unfulfilled commitments and their consequences[96]. - The company has maintained a stable governance structure with ongoing roles in various other organizations by its executives[150]. - The company emphasizes compliance with the Company Law and Securities Law, ensuring a robust governance structure[164]. - The company has not faced any regulatory actions or penalties since its listing, indicating a stable compliance record[157]. Environmental Impact - The company achieved compliance with environmental discharge standards, with actual COD emissions at 121 mg/l against a permitted concentration of 500 mg/l, and actual ammonia nitrogen emissions at 7.1 mg/l against a permitted concentration of 35 mg/l[118]. - The company has implemented effective pollution control measures, including the use of a wet electrostatic precipitator for dust and ammonia gas absorption, ensuring compliance with emission standards[119]. - The company has established a research center for air pollution prevention and control technologies, receiving environmental approval for its construction[120]. - The company has received environmental impact assessment approvals for multiple projects, including a high-performance flue gas denitration catalyst production project with an annual capacity of 10,000 cubic meters[120]. Shareholder Relations - The company has established a cash dividend policy, aiming to distribute at least 30% of the average distributable profit over the last three years in cash dividends[88]. - The cash dividend distribution ratio is set to be no less than 20% of the distributable profit for the year, with higher ratios for mature stages of development[90]. - The company plans to maintain a stable and continuous profit distribution policy, ensuring reasonable returns to shareholders[92]. - The company has committed to a 36-month lock-up period for shareholders, during which they will not transfer or manage their shares[95]. - The company has confirmed that all commitments related to the initial public offering (IPO) have been fulfilled as of the reporting date[96].

Financial Performance - Operating revenue for the current period was CNY 96,278,711.19, representing an increase of 111.13% year-on-year[5]. - The net profit attributable to shareholders of the listed company was CNY -16,185,635.58, a reduction of 21.55% compared to the previous year[5]. - The basic and diluted earnings per share improved to CNY -0.07, a 24.69% increase from CNY -0.09 in the previous year[5]. - Total operating revenue for Q1 2021 was ¥96,278,711.19, a 111.1% increase from ¥45,602,564.22 in Q1 2020[21]. - Net loss for Q1 2021 was ¥14,537,279.05, compared to a net loss of ¥19,425,721.02 in Q1 2020, representing a 25.0% improvement[22]. - Total comprehensive loss for Q1 2021 was -¥14,628,387.91, an improvement from -¥19,628,754.38 in Q1 2020[22]. Cash Flow - Net cash flow from operating activities improved significantly to CNY 11,302,162.94, a 115.65% increase compared to the same period last year[5]. - The company reported a significant improvement in cash flow, indicating a positive trend in operational efficiency[5]. - Cash received from sales and services rose by 53.68% to ¥163,180,483.26, reflecting increased operating income[12]. - Cash generated from operating activities in Q1 2021 was ¥163,180,483.26, an increase from ¥106,180,007.04 in Q1 2020[26]. - The company reported a net cash flow from operating activities of -¥18.65 million, an improvement from -¥78.81 million year-over-year[29]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,217,543,835.67, a decrease of 3.99% compared to the end of the previous year[5]. - Total liabilities decreased from CNY 855,294,009.22 to CNY 818,272,131.22, a reduction of about 4.3%[16]. - Current liabilities decreased from CNY 828,607,839.96 to CNY 791,676,654.30, a decrease of approximately 4.5%[15]. - Total equity decreased from CNY 412,801,846.94 to CNY 399,271,704.45, a decline of about 3.3%[16]. - Cash and cash equivalents at the end of the period decreased by 45.90% to ¥34,603,872.93, mainly due to investments in the environmental salt project[12]. Shareholder Information - The total number of shareholders at the end of the reporting period was 12,296[8]. - The largest shareholder, Zhejiang DeNeng Industrial Holdings Group Co., Ltd., held 43.54% of the shares[8]. Operating Costs and Expenses - Operating costs increased by 126.42% to ¥78,331,394.85, driven by the rise in operating revenue[11]. - Financial expenses for Q1 2021 were ¥4,792,984.96, compared to ¥3,302,638.32 in Q1 2020, indicating a 45.1% increase[21]. - The company reported a significant decrease in financial expenses by 45.13% to ¥4,792,984.96, attributed to increased short-term borrowings[11]. Other Financial Metrics - Non-recurring gains and losses totaled CNY 2,189,849.31 for the current period[6]. - Research and development expenses for Q1 2021 were ¥8,764,411.25, up from ¥7,457,245.86 in Q1 2020[21]. - Investment income for Q1 2021 was a loss of ¥1,511,878.88, compared to a loss of ¥295,202.80 in Q1 2020[21].

Financial Performance - Net profit attributable to shareholders decreased by 324.02% to a loss of CNY 40,915,113.57 for the year-to-date period[6] - Operating revenue fell by 36.52% to CNY 326,765,132.79 compared to the same period last year[6] - Basic earnings per share decreased by 305.10% to a loss of CNY 0.20 per share[6] - The company reported a net loss of CNY 44,944,444.32 after deducting non-recurring gains and losses[6] - Net profit decreased by 337.99% to -¥43,084,464.44, reflecting a significant decline in operating income[13] - The net profit for Q3 2020 was a loss of ¥8,211,961.98, compared to a profit of ¥5,068,773.45 in Q3 2019, indicating a significant decline[27] - The net profit for Q3 2020 was a loss of ¥5,362,886.59, compared to a profit of ¥7,663,638.48 in Q3 2019, marking a significant decline[30] - The total comprehensive income for Q3 2020 was -¥8,259,931.09, compared to ¥5,085,025.74 in Q3 2019[30] Cash Flow - Net cash flow from operating activities decreased by 64.01% to a negative CNY 90,432,017.23 for the year-to-date period[6] - Cash flow from operating activities showed a net outflow of -¥90,432,017.23, a 64.01% increase in outflow compared to the previous year[14] - The cash flow from operating activities for the first three quarters of 2020 was ¥541,275,937.10, compared to ¥591,787,804.84 in the same period of 2019[32] - The net cash flow from financing activities for the first nine months of 2020 was 49,814,261.09 RMB, a significant improvement from -502,436.77 RMB in the same period of 2019[35] - The company reported a total operating cash outflow of 631,707,954.33 RMB in Q3 2020, slightly decreased from 646,927,280.30 RMB in Q3 2019[33] Assets and Liabilities - Total assets decreased by 5.51% to CNY 1,288,479,801.71 compared to the end of the previous year[6] - Total current assets decreased to CNY 1,010,674,529.02 from CNY 1,123,228,709.93, reflecting a decline of approximately 10%[18] - The company’s total liabilities decreased to CNY 794,670,803.04 from CNY 826,532,367.67, a reduction of approximately 3.9%[20] - The total liabilities as of Q3 2020 amounted to ¥768,492,230.78, a decrease from ¥803,870,961.22 in the previous year[23] - The total assets as of Q3 2020 were ¥1,271,824,075.45, down from ¥1,341,834,329.07 in the previous year[23] Revenue and Costs - Total operating revenue for Q3 2020 was ¥154,827,872.61, a decrease of 32.7% compared to ¥230,386,628.41 in Q3 2019[25] - Total operating costs for Q3 2020 were ¥164,288,209.04, down from ¥219,411,244.92 in Q3 2019, reflecting a reduction of 25.1%[25] - The total operating costs for Q3 2020 were ¥123,788,647.05, down from ¥173,935,420.96 in Q3 2019[29] Shareholder Information - The total number of shareholders at the end of the reporting period is not specified, but the report includes details on the top ten shareholders[9] Government Support - The company received government subsidies amounting to ¥5,359,745.31, an increase of 585.81% compared to the previous year[13] - The company reported a significant increase in tax refunds received, amounting to ¥3,094,667, a 600.18% increase year-on-year[14] Investment and Equity - The company reported a net investment income of CNY 30,276.31, a decrease of 98.55% compared to the same period last year[15] - The company’s long-term equity investments increased to CNY 21,429,048.54 from CNY 18,561,314.13, an increase of approximately 15.5%[19] - Shareholders' equity totaled CNY 537,046,976.05, with CNY 534,254,495.95 attributed to the parent company's equity[39] Miscellaneous - The report indicates that the third-quarter results have not been audited[6] - The company executed a new revenue standard from January 1, 2020, adjusting previously classified "prepayments" to "contract liabilities"[43]

Financial Performance - The company's operating revenue for the first half of 2020 was RMB 171,937,260.18, a decrease of 39.54% compared to RMB 284,404,389.79 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was a loss of RMB 33,336,985.99, representing a decline of 123.65% compared to a loss of RMB 14,905,584.94 in the previous year[19]. - The basic and diluted earnings per share were both -0.17 yuan, down 142.86% from -0.07 yuan in the same period last year[19]. - The net cash flow from operating activities was -RMB 84,935,532.52, a decrease of 39.87% compared to -RMB 60,725,465.14 in the previous year[19]. - The company's total assets at the end of the reporting period were RMB 1,356,869,985.23, a slight decrease of 0.49% from RMB 1,363,579,343.72 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company decreased by 6.26% to RMB 500,818,048.44 from RMB 534,254,495.95 at the end of the previous year[19]. - The company reported a revenue of 172 million, a year-on-year decrease of 39.54%[32]. - The net profit attributable to shareholders was -33.34 million, a decline of 123.65% compared to the same period last year[32]. - The company faced a significant decrease in new orders for flue gas treatment projects, with a year-on-year decline of 210.56 million[32]. - The cash received from sales and services decreased by 116.77 million compared to the previous year, due to delays in customer resumption of work caused by the pandemic[32]. Impact of COVID-19 - The decline in revenue was primarily due to the impact of the COVID-19 pandemic on global economic operations, affecting the company's production and operations[20]. - The company faced increased credit impairment losses, contributing to the decline in net profit[20]. - The overseas business segment experienced project execution delays due to the pandemic and international circumstances, impacting overall revenue[20]. - The overall business environment remains challenging due to the COVID-19 pandemic and international trade tensions, impacting project execution and economic benefits[34]. - Cash and cash equivalents decreased by 20.33% year-on-year, primarily due to a decline in cash received from sales and services amid the COVID-19 pandemic and changes in the overseas situation[44]. Business Strategy and Development - The company is in a transformation and upgrading phase, with challenges in the domestic thermal power ultra-low emission market[20]. - The company is focusing on expanding its solid waste and hazardous waste business, which is still in the early stages of development[26]. - The company is actively transitioning to overseas markets, although the execution of projects has been delayed due to the pandemic[31]. - The company is shifting its focus from domestic to international markets for flue gas treatment, anticipating a decrease in domestic business proportion[34]. - The solid waste treatment sector is being actively developed, with plans for increased investment and technology development in hazardous waste management[36]. Research and Development - The company has established a strong technical innovation capability, with 138 authorized patents, including 3 invention patents[28]. - R&D expenses increased by 22.22%, rising from ¥12.22 million to ¥14.93 million, indicating a focus on innovation during the transition period[41]. - Research and development expenses increased to ¥14,933,259.14 in the first half of 2020, up from ¥12,218,364.27 in the same period of 2019, representing a growth of 22.2%[106]. Financial Stability and Liabilities - The company has not proposed any profit distribution or capital reserve increase for the first half of 2020, indicating a focus on financial stability[57]. - Total liabilities increased by 9.17% year-on-year, reaching RMB 854.80 million[44]. - The total assets increased by 4.47% year-on-year, totaling RMB 1,356.87 million[44]. - The company's equity attributable to shareholders decreased to RMB 500,818,048.44 from RMB 534,254,495.95, a decline of about 6.3%[99]. - Short-term borrowings increased by 14.88% year-on-year, as the company secured an additional RMB 40 million in bank loans for operational needs[45]. Shareholder Information - The total share capital of the company is 202,000,000 shares, with 140,250,000 shares (69.43%) held by three major shareholders under lock-up conditions[82]. - The largest shareholder, Shaoxing Deneng Fireproof Materials Co., Ltd., holds 89,650,000 shares, accounting for 44.38% of the total shares[88]. - The second largest shareholder, Hong Kong Rongzhi Group Co., Ltd., holds 41,250,000 shares, which is 20.42% of the total shares[88]. - The lock-up shares held by major shareholders are set to be released on February 7, 2020, allowing for potential market liquidity[82]. Environmental Compliance - The company has established various pollution control measures, including a wastewater treatment system that processes production and domestic wastewater before discharge[70]. - In 2020, the actual emissions of COD and ammonia nitrogen were 61.8 mg/l and 29.6 mg/l, respectively, which were within the permitted discharge limits[68]. - The company has implemented an emergency response plan for environmental incidents, which was filed with the local environmental protection bureau[72]. - The company conducts annual environmental monitoring through a qualified third-party agency, with results meeting national and local standards[73]. Accounting and Financial Reporting - The company adheres to the accounting standards and prepares financial reports based on the principle of going concern, with no significant doubts about its ability to continue operations[136]. - The financial statements are prepared in RMB, and the company follows the fiscal year from January 1 to December 31[138]. - The company recognizes revenue based on the progress of performance obligations, confirming revenue over time if certain criteria are met[198]. - The company assesses expected credit losses based on historical credit loss experience, current conditions, and forecasts of future economic conditions, calculating expected credit losses over the entire duration of financial instruments[156].

Financial Performance - Operating revenue fell by 54.95% to CNY 45,602,564.22 year-on-year[6] - Net profit attributable to shareholders decreased by 85.07% to CNY -18,582,701.61[6] - Cash flow from operating activities showed a decline of 31.00%, amounting to CNY -72,223,401.48[6] - Basic and diluted earnings per share both decreased by 80.00% to CNY -0.09[6] - The company reported a net loss of ¥19,425,721.02, a decrease of 93.47% compared to the previous year, primarily due to reduced operating income[15] - The company experienced a 54.31% reduction in operating costs, aligning with the decrease in operating revenue[15] - Total operating revenue for Q1 2020 was ¥45,602,564.22, a decrease of 55.1% compared to ¥101,235,609.33 in Q1 2019[29] - Net loss for Q1 2020 was ¥19,425,721.02, compared to a net loss of ¥10,040,824.62 in Q1 2019, representing a 93.7% increase in losses[31] - The total comprehensive loss for Q1 2020 was -¥19,628,754.38, compared to -¥10,053,191.71 in Q1 2019, indicating a 95.6% increase in comprehensive losses[31] Assets and Liabilities - Total assets decreased by 5.31% to CNY 1,291,224,417.03 compared to the end of the previous year[6] - Current assets totaled ¥1,036,677,683.47, down from ¥1,123,228,709.93, indicating a decrease of about 7.7%[21] - Total liabilities decreased to ¥773,806,195.36 from ¥826,532,367.67, a reduction of about 6.4%[23] - Total current liabilities were reported at CNY 798,920,199.58, reflecting a stable financial position[43] - Total liabilities reached $803,870,961.22, with current liabilities at $801,028,659.80[48] Shareholder Information - The total number of shareholders reached 17,679 at the end of the reporting period[11] - The largest shareholder, Shaoxing Deneng Fireproof Materials Co., Ltd., holds 44.38% of the shares[11] Cash and Cash Equivalents - Cash and cash equivalents decreased by 49.15% to ¥90,779,678.14 due to a significant decline in cash received from sales during the COVID-19 pandemic[13] - The company's cash and cash equivalents were reported at ¥90,779,678.14, down from ¥178,519,813.23, a significant decrease of about 49.3%[21] - The company ended Q1 2020 with cash and cash equivalents of 63,965,722.23 RMB, down from 97,325,795.35 RMB at the end of Q1 2019[38] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 2,328,517.42 during the reporting period[8] - Other income surged by 626.07% to ¥2,381,618.83, attributed to government subsidies during the pandemic[15] - Non-operating income and expenses resulted in a net gain of CNY 2,050,355.18[9] Changes in Financial Reporting - The company adopted new revenue recognition standards starting January 1, 2020, impacting the accounting treatment of contract liabilities[44] - The company is adapting to new revenue and leasing standards starting from 2020, which may impact future financial reporting[40] - The company adopted the new revenue recognition standard starting January 1, 2020, with no significant impact on financial reporting[50] Inventory and Investments - Inventory increased to ¥442,957,431.26 from ¥398,095,438.73, representing a growth of approximately 11.2%[21] - Long-term equity investments were valued at CNY 18,561,314.13, suggesting ongoing investment strategies[42] Research and Development - Research and development expenses increased to ¥7,457,245.86 in Q1 2020, up from ¥6,000,378.92 in Q1 2019, reflecting a 24.3% increase[29]

Financial Performance - The company's operating revenue for 2019 was RMB 777,139,767.15, representing a 4.12% increase compared to RMB 746,405,464.43 in 2018[20] - The net profit attributable to shareholders of the listed company decreased by 51.42% to RMB 6,246,064.50 from RMB 12,857,830.57 in the previous year[20] - The net profit after deducting non-recurring gains and losses was RMB 3,057,714.43, down 54.87% from RMB 6,775,106.73 in 2018[20] - The net cash flow from operating activities improved significantly to RMB 14,450,762.13, compared to a negative RMB 36,798,831.11 in 2018, marking a 139.27% increase[20] - Basic earnings per share decreased by 50.00% to RMB 0.03 from RMB 0.06 in 2018[22] - The weighted average return on net assets decreased by 1.23 percentage points to 1.18% from 2.41% in 2018[22] - The increase in operating revenue was primarily driven by the production of the "10,000 cubic meters per year high-performance flue gas denitration catalyst industrialization project" and the growth in demand for high-porosity catalysts and export business[22] - The net profit attributable to shareholders decreased year-on-year, primarily due to the company's strategic transformation phase, with a significant decline in gross profit margin from traditional flue gas treatment projects and desulfurization equipment[23] - The average balance of bank loans increased compared to the same period last year, leading to a year-on-year rise in financial expenses by CNY 2.7085 million[23] - The basic earnings per share, diluted earnings per share, and earnings per share after deducting non-recurring gains and losses all decreased year-on-year, reflecting the decline in net profit attributable to shareholders[24] - The company reported a net profit of CNY 15.895 million in Q4 2019, following a net loss in the first three quarters of the year[27] - The company achieved operating revenue of CNY 777.14 million, representing a year-on-year growth of 4.12%, while net profit attributable to shareholders decreased by 51.42% to CNY 6.25 million[47] Assets and Liabilities - The total assets at the end of 2019 were RMB 1,363,579,343.72, a 0.79% increase from RMB 1,352,860,017.76 in 2018[21] - The net assets attributable to shareholders of the listed company increased by 1.06% to RMB 534,254,495.95 from RMB 528,640,373.64 in the previous year[21] - As of December 31, 2019, the company's total assets amounted to CNY 1,363.58 million, with net assets attributable to shareholders increasing by 1.06% to CNY 534.25 million[47] - Total liabilities were reported at CNY 826,532,367.67, compared to CNY 824,219,644.12 in the previous year, indicating a marginal increase[197] - The company's current assets totaled CNY 1,123,228,709.93, down from CNY 1,145,034,883.08 in 2018, reflecting a decrease of approximately 1.6%[195] - Cash and cash equivalents decreased to CNY 178,519,813.23 from CNY 205,181,865.73, representing a decline of about 12.9%[195] - Accounts receivable decreased to CNY 401,641,221.38 from CNY 456,851,783.87, a reduction of approximately 12.1%[195] - Inventory increased to CNY 398,095,438.73 from CNY 333,891,966.09, marking an increase of about 19.2%[195] Strategic Initiatives - The company is engaged in environmental protection services, covering flue gas treatment, water treatment, and solid waste treatment, with a focus on expanding its business in these areas[32] - The company has developed a complete industrial chain for flue gas treatment in thermal power plants and is actively transitioning into non-electric sectors, water treatment, and solid waste management[35] - The company has established subsidiaries in overseas markets, including NANO TUNA ENGINEERING CO.,LTD in South Korea and TUNA ENVIROTECH PRIVATE LIMITED in India, which have not yet shown economic benefits due to their short establishment time[23] - The company is actively expanding its non-electric emission reduction business, with a focus on industries such as steel and chemical, and has signed a contract for a 1.2 million tons/year project[43] - The company plans to expand its market presence through strategic acquisitions and partnerships in the environmental protection sector[84] - The company is exploring opportunities for market expansion in the Asia-Pacific region, targeting a growth rate of 20% in the next fiscal year[84] - The company has set a performance guidance of achieving a revenue growth of 15% year-over-year for the upcoming fiscal year[84] Research and Development - The company has a strong technological innovation capability, with 127 authorized patents, including 3 invention patents[38] - The company has established a strategic partnership with the Chinese Academy of Sciences, enhancing its R&D capabilities[37] - Research and development expenses totaled 27.53 million yuan, representing 3.54% of total revenue, with 128 R&D personnel making up 13.22% of the total workforce[68] - The company is committed to research and development in environmental technologies, aiming to innovate and improve its product offerings[161] - The company aims to improve its flue gas treatment products and increase R&D investment in catalysts, particularly for low-temperature applications in non-electric industries[94] Market Challenges - The company has faced challenges in the domestic power generation market due to shrinking demand and increased competition, impacting overall performance[41] - The company is currently undergoing a strategic transformation, focusing on expanding into overseas markets and solid waste management, although new business segments have yet to yield significant economic benefits[47] - The company anticipates a market shift towards urea as a replacement for liquid ammonia in flue gas treatment, expected to gain traction in 2020[87] - The overseas flue gas governance market, particularly in India, is expected to expand due to stringent emission standards being enforced[88] - The solid waste treatment market is expected to grow as new regulations are introduced to enhance solid waste management capabilities[90] Corporate Governance and Compliance - The company has established a governance structure that ensures compliance with relevant laws and regulations, protecting shareholder rights[171] - The board of directors held a total of 9 meetings during the year, all conducted via communication methods[174] - The independent directors are responsible for providing opinions on the profit distribution plan and any adjustments to it[102] - The audit opinion confirmed that the financial statements fairly represent the company's financial status as of December 31, 2019, and its operational results for the year[180] - The management is responsible for ensuring the financial statements are prepared in accordance with accounting standards and reflect the company's true financial position[187] Shareholder Relations and Dividends - The company did not distribute cash dividends or bonus shares for the year 2019, as part of its strategy to support project construction and strategic planning[5] - The company is committed to a cash dividend policy, distributing at least 30% of the average annual distributable profit over the last three years[99] - The cash dividend distribution will be at least 20% of the distributable profit in profitable years, with higher percentages for mature companies without major capital expenditures[100] - The company will consider differentiated cash dividend policies based on its development stage and capital expenditure plans[101] - The company has not distributed dividends for the years 2017, 2018, and 2019, with a net profit margin of 52.80% in 2017[104]

证券代码：603177 证券简称：德创环保 公告编号：2019－054 浙江德创环保科技股份有限公司 关于参加浙江辖区上市公司 投资者网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为了进一步加强与投资者特别是中小投资者的沟通交流，浙江德创环保科技 股份有限公司（以下简称"公司"）将参加由浙江证监局、浙江上市公司协会与 深圳市全景网络有限公司（以下简称"全景网"）共同举办的"沟通促发展 理 性共成长"辖区上市公司投资者网上集体接待日主题活动"。现将有关事项公告 如下： 本次投资者网上集体接待日活动将通过全景网互动平台采取网络远程的方 式举行，投资者可以登录"全景·路演天下"网站（http://rs.p5w.net）参与 互动交流，活动时间为 2019 年 11 月 5 日（星期二）下午 15:30-17:00。 届时公司总经理赵博先生、董事会秘书刘飞先生、财务总监邬海华先生及相 关工作人员将通过网络在线形式与投资者就公司治理、发展战略、经营状况等问 题进行沟通交流（如遇特殊情况，参与人员会有调整 ...