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 ...

Financial Performance - Operating revenue for the first nine months was CNY 514,791,018.20, an increase of 0.41% year-on-year[6] - Net profit attributable to shareholders of the listed company for the first nine months was CNY -9,649,417.13, a decrease of 565.94% compared to the same period last year[6] - Basic earnings per share for the reporting period was CNY -0.05, a decrease of 600.00% compared to the previous year[6] - The weighted average return on equity decreased by 2.23 percentage points to -1.84%[6] - The company's net profit attributable to shareholders decreased by 565.94% year-over-year, resulting in a loss of ¥9,649,417.13[16] - The company's net profit after deducting non-recurring gains and losses was CNY -10,381,560.62, a decrease of 2,837.03% year-on-year[6] - The company's total assets decreased to ¥1,340,432,507.55 from ¥1,352,860,017.76 at the end of 2018[24] - The company's retained earnings decreased to ¥161,072,538.94 from ¥170,721,956.07 at the end of 2018, indicating a decline of approximately 5.83%[24] - The company's net profit for the first nine months of 2019 was ¥514,791,018.20, compared to ¥512,693,088.85 in the same period of 2018, showing a marginal increase[29] Cash Flow - The net cash flow from operating activities improved to CNY -55,139,475.46, a 54.90% increase compared to the previous year[6] - The net cash flow from operating activities improved by 54.90%, totaling -¥55,139,475.46, due to increased cash receipts from sales[17] - Cash inflow from operating activities for the first three quarters of 2019 was CNY 591,787,804.84, up from CNY 564,887,870.09 in the same period of 2018[37] - Cash outflow from investing activities for the first three quarters of 2019 was CNY 95,036,377.82, down from CNY 126,053,906.58 in the same period of 2018[38] - Net cash flow from financing activities for the first three quarters of 2019 was -CNY 502,436.77, compared to a positive net cash flow of CNY 101,056,524.37 in 2018[38] - The ending cash and cash equivalents balance as of September 30, 2019, was CNY 80,849,442.13, down from CNY 108,677,331.95 at the end of the previous year[38] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,340,432,507.55, a decrease of 0.92% compared to the end of the previous year[6] - The company's cash and cash equivalents decreased by 46.64% from the previous year, totaling ¥109,489,113.24[14] - Accounts receivable decreased by 34.23% year-over-year, amounting to ¥68,547,572.23[14] - The company’s total liabilities increased, with accounts payable rising by 33.37% to ¥84,718,034.15, reflecting more project executions[14] - Total liabilities as of September 30, 2019, were ¥819,544,653.67, slightly down from ¥824,219,644.12 at the end of 2018[24] - Total liabilities decreased to ¥801,523,677.04 from ¥805,498,018.01, a reduction of approximately 0.6%[28] Revenue and Expenses - Total revenue for Q3 2019 reached ¥230,386,628.41, an increase from ¥220,265,293.34 in Q3 2018, representing a growth of approximately 5.1%[29] - Total operating costs for Q3 2019 were ¥219,411,244.92, compared to ¥208,098,212.66 in Q3 2018, indicating an increase of about 5.6%[29] - The gross profit margin for Q3 2019 was approximately 0.42%, slightly down from the previous year's margin[29] - Research and development expenses for Q3 2019 were ¥8,032,147.40, compared to ¥7,457,475.61 in Q3 2018, indicating an increase of about 7.7%[29] - The company reported a decrease in sales expenses, which were CNY 6,738,654.88 in Q3 2019, down from CNY 8,242,885.67 in Q3 2018, a reduction of approximately 18.3%[34] Strategic Changes - The company is undergoing a strategic transformation, with increased personnel in new business areas leading to higher management costs[16] - The company predicts a significant decline in cumulative net profit for the year 2019 compared to the same period last year due to the shrinking market for traditional coal-fired power plant flue gas treatment projects and increased expenses from new business development[18] Government Support - The company received government subsidies amounting to CNY 57,177.50 during the reporting period[9] Shareholder Information - The total number of shareholders at the end of the reporting period was 20,765[11]

Financial Performance - The company's operating revenue for the first half of 2019 was approximately RMB 284.40 million, a decrease of 2.74% compared to RMB 292.43 million in the same period last year[18]. - The net profit attributable to shareholders was a loss of approximately RMB 14.91 million, a decline of 321.30% from a loss of RMB 3.54 million in the previous year[18]. - The basic and diluted earnings per share were both -0.07 yuan, representing a 250.00% decrease compared to -0.02 yuan in the same period last year[18]. - The comprehensive gross margin declined from 24.29% to 21.72%, a decrease of 2.57 percentage points, resulting in a gross profit decline of 9.24 million[32]. - The total operating expenses increased to CNY 302,313,151.73 in the first half of 2019, up from CNY 284,673,000.00 in the same period of 2018, reflecting a rise in costs[101]. - The total comprehensive income for the first half of 2019 was a loss of RMB 3,539.363 million[123]. Cash Flow and Assets - The net cash flow from operating activities improved by 44.63%, amounting to approximately RMB -60.73 million compared to RMB -109.68 million in the previous year[18]. - The company's total assets at the end of the reporting period were approximately RMB 1.30 billion, a decrease of 3.99% from RMB 1.35 billion at the end of the previous year[18]. - The company's cash and cash equivalents decreased by 38.49% to approximately RMB 126.22 million, primarily due to project execution investments in the first half of the year[43]. - Accounts receivable decreased to RMB 420,153,150.03 from RMB 456,851,783.87, reflecting a decline of about 8%[88]. - Inventory increased to RMB 389,540,817.88 from RMB 333,891,966.09, showing an increase of approximately 16.7%[88]. Strategic Transformation - The company is undergoing a strategic transformation, with a decline in traditional coal-fired unit emission reduction markets impacting revenue and gross margin[19]. - The company is in a strategic transformation phase, focusing on expanding into non-electric fields, water treatment, solid waste management, and overseas markets[24]. - The company is actively exploring non-electric and marine flue gas governance fields amid a shrinking traditional coal-fired power plant market[33]. - The company plans to expand into the non-electric sector, focusing on metallurgy, coal chemical, and municipal wastewater treatment projects[35]. Management and Expenses - Increased management expenses due to personnel growth in new business areas such as marine desulfurization and solid waste management contributed to the net profit decline[19]. - Management expenses increased by 3.33 million, leading to a corresponding profit decline, primarily due to the establishment of a professional talent team for new business segments[32]. - Financial expenses rose by 3.16 million due to an increase in short-term borrowings compared to the same period last year[33]. Environmental Compliance - The company is classified as a key pollutant discharge unit and has established various emission points for pollutants such as COD and ammonia nitrogen[68]. - The company achieved a COD emission of 110 mg/l, significantly below the permitted level of 500 mg/l, and actual emissions were 1.23 tons per annum compared to a permitted 2.0 tons[69]. - Ammonia nitrogen emissions were recorded at 15.3 mg/l, well under the permitted 35 mg/l, with actual emissions of 0.04 tons per annum against a permitted 0.1 tons[69]. - The company has implemented a comprehensive environmental monitoring program, with third-party assessments confirming compliance with national and local standards for wastewater, waste gas, and noise[73]. Risks and Challenges - The company acknowledges the risk of performance volatility due to significant policy impacts on the flue gas treatment industry, which can affect product pricing, gross margins, and sales volumes[54]. - The new business segments established by the company have not yet shown economic benefits, leading to potential revenue and profit decline risks[54]. - The company has a large accounts receivable balance, which poses a risk of bad debt losses due to long collection periods; measures are being taken to link collection performance to management incentives[54]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period was 22,089[79]. - The company has not reported any changes in its share capital structure during the reporting period[78]. - The company has a total of 89,650,000 restricted shares that will be tradable starting from February 7, 2020, under the initial public offering lock-up[83]. Accounting and Financial Reporting - The company adheres to the accounting standards and ensures that financial statements reflect the true financial condition, operating results, and cash flows[130]. - The accounting period for the company is from January 1 to December 31 each year[131]. - The company uses RMB as its functional currency for accounting purposes[133]. - The company includes all subsidiaries under its control in the consolidated financial statements[135].

Financial Performance - Net profit attributable to shareholders decreased by 38.16% to CNY -10,040,824.62 year-on-year[5] - Operating revenue decreased by 9.23% to CNY 101,235,609.33 compared to the same period last year[5] - The company reported a basic earnings per share of CNY -0.05, a decrease of 25% compared to the previous year[5] - Operating profit for Q1 2019 was CNY -11,966,007.66, compared to CNY -7,938,850.10 in Q1 2018, indicating a worsening of 50.7%[25] - Net profit for Q1 2019 was -¥9,288,785.26, compared to -¥7,255,238.84 in Q1 2018, reflecting a 28.0% increase in net loss year-over-year[28] - The company reported a total comprehensive loss of -¥9,288,785.26 for Q1 2019, compared to -¥7,255,238.84 in Q1 2018[29] Assets and Liabilities - Total assets decreased by 7.13% to CNY 1,256,382,568.55 compared to the end of the previous year[5] - Total liabilities as of March 31, 2019, were CNY 718,966,637.14, down from CNY 805,498,018.01 at the end of 2018[23] - Shareholders' equity as of March 31, 2019, was CNY 519,880,945.14, a decrease from CNY 529,169,730.40 at the end of 2018[23] - Cash and cash equivalents decreased to CNY 102,362,649.25 from CNY 158,327,024.42 at the end of 2018, a decline of 35.4%[21] - Accounts receivable decreased to CNY 464,929,220.74 from CNY 561,235,860.95, a reduction of 17.2%[22] - Inventory increased to CNY 359,079,227.77 from CNY 333,474,972.73, an increase of 7.7%[22] Cash Flow - Net cash flow from operating activities improved by 31.16%, reaching CNY -55,133,105.46[5] - Cash inflow from operating activities was ¥197,448,716.43 in Q1 2019, an increase from ¥163,652,782.01 in Q1 2018[31] - The net cash flow from operating activities for Q1 2019 was -57,574,365.97 RMB, compared to -80,072,915.70 RMB in Q1 2018, indicating an improvement of approximately 28.1%[33] - The company reported a net cash flow decrease of 82,074,379.35 RMB in Q1 2019, compared to a decrease of 113,285,464.75 RMB in Q1 2018, reflecting an improvement of approximately 27.5%[33] Shareholder Information - The number of shareholders reached 21,878 at the end of the reporting period[9] - The top shareholder, Shaoxing Deneng Fireproof Materials, holds 44.38% of shares, with 89,650,000 shares pledged[9] Expenses and Costs - Total operating costs for Q1 2019 were CNY 113,638,799.13, down from CNY 120,380,764.75 in Q1 2018, reflecting a reduction of 5.8%[25] - Financial expenses increased by 138.77% to ¥3,444,595.63 due to a rise in short-term borrowings compared to the previous year[13] - Research and development expenses for Q1 2019 were CNY 6,000,378.92, compared to CNY 5,406,099.56 in Q1 2018, reflecting an increase of 10.9%[25] - Financial expenses rose significantly to ¥3,456,840.79 in Q1 2019, compared to ¥1,442,782.16 in Q1 2018, indicating a substantial increase in interest costs[28] Other Financial Metrics - The report indicates no significant non-recurring gains or losses affecting the financial results[7] - Cash and cash equivalents decreased by 31.91% to ¥139,710,134.57 compared to the previous year-end due to project execution and concentrated cash inflows in the second half of the year[12] - Prepayments increased by 116.14% to ¥26,827,453.09 as the company prepaid for raw materials to lock in costs[12] - Other receivables rose by 35.21% to ¥43,794,843.41, primarily due to an increase in bid deposits[12] - Construction in progress increased by 57.78% to ¥36,680,866.59 due to the expansion of certain fundraising projects[12] - Long-term deferred expenses increased by 43.77% to ¥1,122,265.86, attributed to dormitory renovations[12] - Advance receipts decreased by 36.93% to ¥18,282,318.25 as some projects were completed during the reporting period[12] - Tax payable decreased by 34.44% to ¥9,336,218.85 due to tax payments made during the period[12]

Financial Performance - The company's total revenue for 2018 was CNY 746,405,464.43, a decrease of 6.59% compared to CNY 799,105,855.02 in 2017[21] - The net profit attributable to shareholders for 2018 was CNY 12,857,830.57, down 66.39% from CNY 38,254,692.73 in 2017[23] - The basic earnings per share for 2018 was CNY 0.06, a decline of 68.42% from CNY 0.19 in 2017[22] - The net cash flow from operating activities for 2018 was CNY -36,798,831.11, a decrease of 192.74% compared to CNY -12,570,604.59 in 2017[23] - The company's total revenue for Q4 2018 reached approximately ¥233.71 million, showing a significant increase compared to previous quarters[26] - The net profit attributable to shareholders for Q4 2018 was approximately ¥10.79 million, a notable recovery from a loss in Q1 2018[26] - The company reported a net cash flow from operating activities of approximately ¥85.46 million in Q4 2018, indicating a strong turnaround from negative cash flow in earlier quarters[26] Revenue and Market Trends - The decline in revenue is attributed to the shrinking market for traditional coal-fired unit emissions reduction, while new segments like water treatment and overseas business are still in early stages[23] - The company secured over CNY 50 million in non-electric orders during the reporting period, indicating initial success in expanding its business in non-electric sectors[40] - The company’s flue gas treatment engineering revenue increased by 24.66% year-on-year, driven by expanded total contracting business in non-electric fields[47] - The company reported a total revenue of 30,987 million in 2018, with a significant increase in user data and operational efficiency[83] - The company is focusing on the air pollution control industry, with new regulations requiring stricter emission limits for various sectors starting from March 1, 2018, indicating a growing market for flue gas treatment[90] Strategic Initiatives and Developments - The company has established a solid foundation in the environmental protection sector, focusing on flue gas treatment, water treatment, and solid waste management services[31] - The company has completed the formation of a water treatment team and obtained a Class B qualification for environmental engineering, enhancing its service capabilities[31] - The company has initiated a solid waste business team, targeting areas such as waste incineration and hazardous waste disposal, as part of its strategic transformation[31] - The company has signed multiple cooperation agreements with prestigious institutions, including Tsinghua University, to advance research in environmental technologies[34] - The company is exploring new business areas such as non-electric sectors, water treatment, solid waste, and ship desulfurization and denitrification[100] Research and Development - The company holds 97 authorized patents, including 3 invention patents, showcasing its strong focus on research and development[34] - The company’s R&D expenses decreased by 17.03% to CNY 26.51 million, reflecting a focus on optimizing catalyst formulations[46] - The company is actively working to strengthen its research and development capabilities to maintain a competitive edge in new business areas[100] Financial Position and Assets - The company's total assets increased by 16.39% to CNY 1,352,860,017.76 at the end of 2018, compared to CNY 1,162,396,067.10 at the end of 2017[23] - The company’s total assets as of December 31, 2018, were CNY 1.35 billion, with net assets of CNY 528.64 million, a decrease of 1.37% year-on-year[44] - Cash and cash equivalents grew by 9.97% to CNY 205,181,865.73, primarily due to an increase in short-term borrowings[71] - Accounts receivable decreased by 11.22% to CNY 456,851,783.87, attributed to a decline in sales revenue[72] - Inventory surged by 92.69% to CNY 333,891,966.09, driven by increased construction activities[72] Profit Distribution and Dividends - The company plans not to distribute cash dividends or issue bonus shares for 2018 to support project construction and strategic planning[5] - The company has a profit distribution policy that ensures at least 30% of the average distributable profit over the last three years is distributed in cash dividends[102] - The company plans to not distribute profits in 2019 due to a focus on transformation and expansion, with retained earnings allocated for operational liquidity needs[109] Risk Management - The company faces risks from market fluctuations, particularly in the thermal power sector, which may impact revenue and profitability[97] - The company is implementing measures to mitigate risks related to raw material price volatility and accounts receivable collection[98] - The company emphasizes the importance of risk awareness regarding future plans and development strategies[6] Corporate Governance and Compliance - The company has established a governance structure that includes a board of directors, supervisory board, and management team, ensuring checks and balances[178] - The company has ensured compliance with information disclosure obligations, providing accurate and timely information to shareholders[180] - The company has not reported any major accounting errors or corrections during the reporting period[116] Environmental Responsibility - The company has established a comprehensive environmental management system, including measures for wastewater treatment and air pollution control, ensuring compliance with environmental regulations[132] - The company reported actual emissions of COD at 81 mg/l, significantly below the permitted level of 500 mg/l, demonstrating effective pollution control measures[131] - The company has prepared emergency response plans for environmental incidents, which were filed with the local environmental protection bureau in November 2018[135]

Financial Performance - Net profit attributable to shareholders decreased by 90.97% to CNY 2,070,955.69 for the first nine months of the year[6]. - Operating revenue declined by 9.76% to CNY 512,693,088.85 year-on-year[6]. - Basic earnings per share dropped by 91.67% to CNY 0.01[6]. - The company reported a significant decrease in net profit excluding non-recurring gains and losses, down 98.24% to CNY 379,300.42[6]. - Operating profit fell by 94.30% to ¥1,387,483.16, primarily due to decreased revenue in the flue gas treatment segment[14]. - Net profit decreased by 90.97% to ¥2,070,955.69, reflecting a significant drop in total profit[14]. - Total profit for Q3 2018 was ¥7.11 million, compared to ¥12.92 million in Q3 2017, showing a decline of 44.8%[28]. - Net profit for Q3 2018 was ¥5.61 million, down from ¥11.46 million in Q3 2017, reflecting a decrease of 50.9%[28]. - The company reported a basic earnings per share of ¥0.03 for Q3 2018, down from ¥0.06 in Q3 2017[29]. - The total comprehensive income for Q3 2018 was ¥5.61 million, compared to ¥11.46 million in Q3 2017, indicating a decrease of 50.9%[29]. Cash Flow and Liquidity - Net cash flow from operating activities worsened by 133.52% to -CNY 122,258,270.42 compared to the same period last year[6]. - Cash flow from operating activities showed a net outflow of ¥122,258,270.42, a decline of 133.52% compared to the previous year[15]. - Operating cash flow for the first nine months of 2018 was -122,258,270.42, compared to -52,353,485.62 in the same period last year, reflecting a worsening cash flow situation[36]. - Total cash inflow from operating activities decreased to 583,864,833.38 RMB, down 14.8% from 685,262,679.54 RMB year-on-year[38]. - Cash outflow from operating activities was 707,527,559.38 RMB, a decrease of 4.5% compared to 740,694,470.63 RMB in the previous year[38]. - Cash and cash equivalents decreased to CNY 98,589,518.90 from CNY 186,497,409.64, a decline of about 47.3%[23]. - Cash and cash equivalents at the end of Q3 2018 totaled 108,677,331.95, a decrease from 166,683,879.20 at the beginning of the period[37]. - The ending cash and cash equivalents balance decreased to 71,905,709.52 RMB, down from 96,005,618.99 RMB year-on-year[39]. - The company received cash inflow from investment activities amounting to 89,259,068.49, significantly higher than 30,254,958.90 in the previous year[36]. - Cash received from investment recoveries increased significantly to 89,000,000.00 RMB, compared to 30,000,000.00 RMB in the previous year, indicating improved investment recovery efforts[38]. Assets and Liabilities - Total assets increased by 7.20% to CNY 1,246,133,567.36 compared to the end of the previous year[6]. - Total liabilities rose to CNY 747,413,462.82 compared to CNY 633,296,030.71, marking an increase of about 18.1%[25]. - Current liabilities totaled CNY 744,245,253.41, up from CNY 630,388,448.84, reflecting a growth of approximately 18.1%[25]. - Accounts receivable decreased by 30.14% to ¥50,209,230.83 due to a decline in sales revenue and lower collection rates[12]. - Inventory rose by 53.23% to ¥265,522,963.70 due to a higher number of ongoing projects[12]. - Short-term borrowings increased by 95.88% to ¥261,500,000.00, attributed to higher bank loans[12]. - Other non-current assets reached ¥28,238,800.00, marking a 100% increase due to land payments[12]. - Unappropriated profits decreased to CNY 161,247,086.56 from CNY 179,358,109.14, a decline of about 10.1%[25]. Shareholder Information - The total number of shareholders reached 22,118 at the end of the reporting period[10]. - The largest shareholder, Shaoxing Deneng Fireproof Materials Co., Ltd., holds 44.38% of the shares[11]. Market Outlook - The company anticipates a significant decline in cumulative net profit for 2018 compared to the previous year due to a shrinking market in traditional coal-fired power generation[17].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 292.43 million, a decrease of 17.20% compared to CNY 353.17 million in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 3.54 million, down 130.82% from a profit of CNY 11.48 million in the previous year[18]. - The net cash flow from operating activities was a negative CNY 109.68 million, a decline of 299.89% compared to a negative CNY 27.43 million in the same period last year[18]. - Basic and diluted earnings per share were both CNY -0.02, a decrease of 133.33% from CNY 0.06 in the same period last year[19]. - The weighted average return on net assets was -0.67%, a decrease of 3 percentage points from 2.33% in the previous year[19]. - The decline in net profit was primarily due to a decrease in the scale of new coal-fired power generation units and a shrinking market for traditional coal-fired flue gas treatment and emission reduction[20]. - The company reported a new order value of 603.07 million yuan in the first half of 2018, representing a year-on-year increase of 21.95 million yuan, or 57.25%[47]. - The company anticipates a significant decline in cumulative net profit compared to the same period last year due to a decrease in sales driven by a shrinking market for traditional coal-fired power plant flue gas treatment projects[47]. - The company is facing risks from the low profitability in the thermal power industry, with nearly half of thermal power enterprises experiencing losses due to rising coal prices and increased operational costs[49]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1.20 billion, an increase of 3.65% from CNY 1.16 billion at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 0.66% to CNY 532.43 million from CNY 535.96 million at the end of the previous year[18]. - Total liabilities increased by 7.34% to ¥672,405,216.69 from ¥626,432,740.71 at the end of the previous period[40]. - The company's total assets increased from CNY 1,162,396,067.10 to CNY 1,204,830,571.78, reflecting a growth of about 3.6%[91]. - The company's total liabilities increased, impacting the overall financial leverage and risk profile[106]. Cash Flow - The net cash flow from operating activities was -109,669,082.07 RMB, a significant decline compared to -27,427,830.56 RMB in the previous period, indicating a worsening operational cash flow situation[105]. - Cash and cash equivalents decreased by 28.40% to ¥133,580,094.59 from ¥186,575,776.81 at the end of the previous period[39]. - The company reported a decrease in cash flow from operating activities, impacting liquidity management[89]. - The ending cash and cash equivalents balance decreased to 110,743,304.72 RMB from 145,704,119.96 RMB, highlighting a decline in liquidity[105]. Research and Development - Research and development expenses increased by 20.36% to ¥11,418,285.71 from ¥9,486,516.87 year-on-year[35]. - The company holds 85 authorized patents, including 3 invention patents, and collaborates with prestigious institutions for technological advancements[29]. Market Expansion and Strategy - The company has set up a new branch in Xi'an to enhance market competitiveness in the western region[34]. - Plans are in place to establish subsidiaries or offices in Southeast Asia and Europe and the United States to expand overseas market presence[34]. - The company is conducting market research and project bidding in Southeast Asia and Europe and the US as part of its strategy to expand into overseas markets[50]. - The company plans to expand into non-electric sectors, water treatment, and overseas markets to mitigate the adverse effects of the current downturn in the traditional thermal power flue gas treatment industry[49]. Environmental Compliance - The company did not experience any environmental pollution incidents or disputes, and received no environmental protection administrative penalties[64]. - The actual discharge concentrations of pollutants were within the permitted limits, including COD at 223 mg/l against a limit of 500 mg/l[66]. - The company has established emergency management mechanisms for environmental incidents and conducts regular training and drills[69]. - The company conducted environmental impact assessments for all construction projects and obtained necessary approvals[68]. Shareholder Information - The company had a total of 202,000,000 shares, with 140,250,000 shares subject to lock-up conditions, representing 69.43% of total shares[74]. - The largest shareholder, Shaoxing Deneng Fireproof Materials Co., Ltd., holds 89,650,000 shares, which is 44.38% of total shares and has some shares frozen[81]. - The company has no preferred shareholders with restored voting rights as of the reporting date[79]. Accounting and Financial Reporting - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial statements reflect the true financial status and operating results[121]. - The company has confirmed that there are no significant doubts regarding its ability to continue as a going concern for the next 12 months[122]. - The company’s financial statements are prepared based on the principle of continuous operation, ensuring accurate representation of cash flows and financial position[121]. Risk Management - The company is actively managing risks related to raw material price fluctuations, which are influenced by macro environmental policies and futures markets, potentially impacting production costs[50]. - The company has a significant amount of accounts receivable, which poses a risk of bad debt losses, and is implementing measures to improve collection efficiency[50].

2018 年第一季度报告 公司代码：603177 公司简称：德创环保 浙江德创环保科技股份有限公司 2018 年第一季度报告 1 / 19 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 9 | 2018 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 | 1,136,020,918.51 | 1,162,396,067.10 | | -2.27 | | 归属于上市公司 | 528,695,790.48 | 535,963,326.39 | | -1.36 | | 股东的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动产生的 | -80,085,239.09 | -54,173,131.35 | | -47.8 ...

Financial Performance - The company's operating revenue for 2017 was ¥799,105,855.02, an increase of 3.41% compared to ¥772,765,780.71 in 2016[21] - The net profit attributable to shareholders decreased by 28.84% to ¥38,254,692.73 from ¥53,759,818.21 in the previous year[21] - The basic earnings per share dropped to ¥0.19 in 2017, down 45.71% from ¥0.35 in 2016[23] - The weighted average return on equity decreased to 7.50% from 15.85% in the previous year, a decline of 8.35 percentage points[23] - The gross profit margin decreased by 3.5 percentage points due to rising raw material costs and increased competition[45] - The total operating profit for 2017 was CNY 42,753,261.80, a decrease of 27.3% compared to CNY 58,794,888.46 in the previous year[191] - The net profit for 2017 was CNY 38,172,450.65, down 29.0% from CNY 53,765,318.27 in 2016[191] Cash Flow - The cash flow from operating activities showed a significant decline, with a net cash outflow of ¥12,570,604.59 compared to a positive cash flow of ¥61,541,053.91 in 2016, representing a decrease of 120.43%[21] - The company generated a net cash flow from operating activities of CNY -54.17 million in Q1, CNY 26.75 million in Q2, CNY -24.93 million in Q3, and CNY 39.78 million in Q4[26] - The net cash flow from operating activities was negative at CNY -12,570,604.59, compared to a positive CNY 61,541,053.91 in 2016[194] - Cash inflow from financing activities was CNY 317,724,854.23, up from CNY 192,500,000.00 in the previous year[195] - The net cash flow from financing activities was CNY 53,130,093.83, compared to a negative CNY -20,290,053.81 in 2016[195] Assets and Liabilities - The total assets at the end of 2017 were ¥1,162,396,067.10, reflecting a 6.09% increase from ¥1,095,620,019.81 in 2016[22] - The total liabilities decreased to ¥626,432,740.71 from ¥729,500,057.61, a reduction of about 14.1%[180] - Total equity increased to ¥535,963,326.39 from ¥366,119,962.20, showing a growth of approximately 46.4%[180] - The company reported a decrease in short-term borrowings from ¥188,500,000.00 to ¥133,500,000.00, a decline of about 29.2%[179] Revenue Breakdown - The revenue from denitration catalysts increased by 53.95% to CNY 171.07 million, driven by heightened demand for catalyst replacements[44] - The revenue from desulfurization equipment was ¥128,127,333.10, down 21.13% year-on-year, with a gross profit margin of 35.74%, a decrease of 6.45 percentage points[49] - The revenue from dust removal equipment was ¥238,260,480.12, down 21.85% year-on-year, with a gross profit margin of 28.28%, an increase of 0.04 percentage points[49] Research and Development - Research and development expenses for the year were CNY 31.95 million, reflecting a 19.04% increase from the previous year[43] - The company holds 80 authorized patents, including 3 invention patents, indicating a strong focus on research and development[34] - The company has participated in the drafting of multiple national standards related to flue gas denitration catalysts, showcasing its technical innovation advantage[34] Market Expansion and Strategy - The company has established a water treatment division and an overseas market division to expand its environmental service offerings[31] - The company is exploring overseas markets, with initial market research completed in Southeast Asia and Europe and the US[32] - The company aims to achieve operating revenue of 910 million CNY in 2018, with operating costs controlled at 690 million CNY and expenses within 150 million CNY[79] Shareholder and Dividend Policy - The company plans to distribute a cash dividend of ¥1.00 per 10 shares, totaling ¥20,200,000.00, to all shareholders[5] - The company’s cash dividend policy stipulates that at least 20% of the distributable profits will be distributed as cash dividends annually[85] - In 2017, the company distributed cash dividends amounting to 20,200,000 RMB, representing 52.80% of the net profit attributable to ordinary shareholders[89] Compliance and Governance - The company has a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[152] - The company has no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment[100] - The company has made commitments regarding business operation licenses as detailed in the prospectus[95] Employee and Management - The company has a total of 1,107 employees, with 690 in production, 51 in sales, 224 in technical roles, 18 in finance, and 124 in administration[146] - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 3.7158 million yuan[143] - The chairman, Jin Meng, received a pre-tax remuneration of 81.16 million yuan, while the general manager, Zhao Bo, received 79.87 million yuan[137]